Question 1

What is a department store? What problems do department stores face today?

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Question 2

Define retailing. Name two ways that retailing affects people.

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Question 3

Compare and contrast supermarkets and convenience stores. Name several characteristics of each store in your answer.

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Question 4

Shopper analytics focuses on understanding how a brand's target market behaves.

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Question 5

Providing great customer service is one of the most challenging elements in the retail mix because customer expectations for service are so varied.

Accepted Answer

Customer expectations for service can vary greatly, making it a challenge for retailers to consistently provide great customer service.

Question 6

Colour can be used by retailers to create a mood or focus customer attention on a particular product.

Accepted Answer

Colour psychology is a well-established concept in retail marketing, where different colours are used to evoke certain emotions and influence consumer behaviour. Retailers often use colour to create a desired mood or to draw attention to specific products or promotions.

Question 7

The first element in the retailing mix is the product offering. Why is the product offering so important to the success of the enterprise? What information should you use in selecting the product offering? Should you consider product depth and width when selecting the product offering?

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Question 8

A specialty store is not only a type of store, but also a method of retail operations. Describe the specialty store strategy. Then name two examples of specialty stores.

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Question 9

What is a franchise? What are the two basic forms of franchising? Describe each form and give an example.

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Question 10

The six Ps of the retailing mix are product, place, price, promotion, personnel, and planning.

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The six Ps of the retailing mix are product, place, price, promotion, personnel, and presentation.

Question 11

Retailing opportunities can take place without customers shopping at a store. Name and briefly discuss four forms of nonstore retailing.

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Question 12

To ensure a firm has the desired atmosphere, retailers must select the appropriate density when it comes to the number of employees.

Accepted Answer

The density of employees can affect the atmosphere of a retail store, so it is important for retailers to select the appropriate number of employees to create the desired atmosphere.

Question 13

Discount stores are retail chains that compete on the basis of low prices, high turnover, and high volume. Name and briefly describe four types of discounters, and give an example of each type.

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Question 14

There are several types of retail stores, each offering a different product assortment, service level, and price level, according to the shopping preferences of its customers. Name eight types of retailers. For each type, indicate the level of service, price level, and width of product assortment.

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Question 15

After defining and selecting a target market, retailers must develop the six Ps of the retailing mix to successfully meet the needs of the chosen target market. What are the six Ps of the retailing mix?

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The answer of After defining and selecting a target market,...

Question 16

Shop-at-home defines the 24-hour television shopping networks and online retailing.

Accepted Answer

Shop-at-home refers to both 24-hour television shopping networks and online retailing, allowing customers to shop from the comfort of their own homes.

Question 17

Petco has just purchased a sizable plot of land on which it will build a store building with a large parking lot. Across the street is a collection of specialty shops and a furniture store. Petco will be part of a strip shopping centre.

Accepted Answer

Petco building a store with a large parking lot across from specialty shops and a furniture store does not necessarily mean it will be part of a strip shopping center, as it could be a standalone store or part of a different type of retail development.

Question 18

You are the promotion manager for a clothing store targeted to pregnant career women. What should be the objective of your promotion strategy? What components could your retail promotional strategy contain? Use specific examples.

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Question 19

What is the first task of developing a retail strategy? What is involved in this task?

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Question 20

The two types of franchising are target market franchising and geographic franchising.

Accepted Answer

The two types of franchising are product distribution franchising and business format franchising. Geographic franchising and target market franchising are not commonly recognized types of franchising.

Quiz 15: Retailing