Deck 7: Retail and Marketing

Question 1

The oldest and most heavily trafficked city area is called

A)regional shopping center
B)prime location
C)urban district
D)Central business district

Answer 1

Central business district

Question 2

Giant retailers called _____ concentrate on one product category such as toys or home improvement

A)Category killers
B)Variety stores
C)supercentres
D)box stores

Answer 2

Category killers

Question 3

Retailers such as Benetton, The Body Shop, and Marks and Spencer carry mostly own- brand merchandise. These are called _____ brands

A)creative label
B)private label
C)house
D)retail label

Answer 3

private label

Question 4

A_____ fee is the charge many supermarkets impose for accepting a new brand to cover the cost of listing and stocking it.

A)inventory
B)slotting
C)initiation
D)stocking

Question 5

Which statement is not a benefit of formulating a retail strategy?

A)A retailer is forced to study the legal, economic, and competitive market
B)A retailer is shown how it can differentiate itself from competitors.
C)Sales maximization is stress

Question 6

When retailers identify customer segments and develop unique strategies to meet the desires of these segments, they are using:

A)mass merchandising
B)niche retailing
C)bifurcated retailing
D)middle market retailing

Question 7

Which is not considered one of the elements of "managing a business" in a retail strategy?

A)the retail organization
B)human resource management
C)operations management
D)merchandise management and pricing

Question 8

During each stage in the development of a retail strategy, retail managers should:

A)consider only controllable variables
B)refrain from "fine tuning" the strategy
C)look for both positive and negative feedback
D)consider no problems with the government to be a form of negative feedback

Question 9

Which of the following is a recommended strategy for retailers when consumers select the outlet first and the brand second?

A)Appropriate pricing
B)Brand availability advertising
C)Brand image management
D)Price special on brands

Question 10

Which of the following types of retail businesses have unlimited liability?

A)Partnership and sole trader
B)Partnership and private company
C)Private company and sole trader
D)Private company and public company

Question 11

The retailer is usually in an excellent position to

A)Make the most profits in the channel
B)Be the channel leader
C)Gain feedback from consumers
D)Co-ordinate the production strategy

Question 12

Which one of the following is NOT a form of direct marketing?

A)catalogue retailing
B)telemarketing
C)personal selling
D)direct mail

Question 13

The major reason people give for not shopping on the Internet is _____.

A)Lack of "touch"
B)Security concerns
C)Too difficult
D)Unfamiliar merchants

Question 14

The difference between retail and cost is called:

A)profit
B)markdown
C)income
D)markup

Question 15

Expenses that benefit the entire store are called:

A)controllable
B)direct
C)indirect
D)Margin results