Question 1

Middle managers in retailing are usually charged with which of these choices?

Group of answer choices

Determining the company's overall financial goals for the next fiscal year.

Working alongside hourly employees in a distribution center.

Developing a company's future real estate strategy.

Executing plans and objectives determined by the company's senior management.

Question 2

Which of the following technical skills would be most useful to a front-line manager at a grocery store?

Group of answer choices

The ability to interpret data for strategic planning purposes for next season's fashion merchandise.

The physical skills and experience to fix an car engine and other broken items around the store.

The competency to negotiate and determine favorable health care rates with unions.

The knowledge of how to use a point of sale system so they can teach new employees how to use it.

Question3

Describe a key reason why you might pay higher prices at a full service retailer.

Group of answer choices

Because of location strategy is high-end.

In order to generate goods sold at lower costs.

Because the extra service has associated higher labor costs.

Question4

Once a retailer has initially entered the market, what does it do next?

Group of answer choices

It focuses on building and supporting loyalty by maintaining customer satisfaction.

It prioritizes low prices and streamlining operations.

It focuses on new services, locations, and product categories.

Question5

The type of retailer most likely to use "scrambled merchandising" is which of the following?

Group of answer choices

A big-box provider of pet supplies.

A service retailer like a day spa.

A full-line grocery store.

Question6

Which best describes how multichannel and omnichannel retailers differ in their approach?

Group of answer choices

An omnichannel retailer may have thousands of convenient physical locations.

The two strategies are essentially the same methods.

A multichannel retailer uses online and physical locations to sell its goods or services.

Question7

Apps have the following disadvantages:

Group of answer choices

There is a high expense to create them.

Websites are much more effective at drawing in customers.

They have design constraints and run on mobile devices with limited battery capacity.

Question8

Which of the following systems is used by many stores to manage pricing information on their e-commerce and m-commerce sites?

Group of answer choices

CRM (Customer Relationship Management)

VMI (Vendor Managed Inventory)

PIM (Product Information Management)

Questi9on

Some channels are more effective than others to encourage impulse buying. Which of the following is most useful for shoppers "on the go"?

Group of answer choices

Catalogs

Desktop e-commerce sites

Mobile commerce

Question10

Why do stores' websites incur higher expenses than they might have expected?

Group of answer choices

The pricing strategies depend on effective customer relationship management.

Retailers' use of social media affects operating margins.

Due to the costs of shipping, website maintenance, data science and so forth.

Question11

The Belief component of the Multi-attribute model represents:

Group of answer choices

how strongly the marketer believes the product will sell.

how strongly the consumer feels about making the purchase decision.

how much the consumer believes the attribute will be delivered.

Question12

The Multi-attribute model is used by marketers to:

Group of answer choices

better utilize marketing research to determine their product price-points.

better understand consumer behavior to determine what products to develop.

better position their offering by accentuating the attributes that are most meaningful to a certain market.

Question13

In a limited problem-solving situation, a good retail strategy to prompt the consumer to buy would be:

Group of answer choices

customer testimonials and reviews.

detailed data sheets and videos.

promotion, presentation and pricing.

Question14

Behavioral factors are similar to Lifestyle factors but differ in:

Group of answer choices

Behavioral factors concern consumer perception of the brand or product.

Lifestyle factors concern what the consumer does with their research.

Lifestyle factors concern understanding consumer's motivation.

Question15

The same underlying factors are shared by differentiated, mass and niche marketing strategies:

Group of answer choices

Product, Price, Packaging and Promotion.

Product, Place, Perception and Price.

Product, Place, Price and Promotion.

Question

Retailers differentiate themselves using target market techniques using:

Group of answer choices

physical or concrete differences.

perceptual or metaphysical differences.

physical or perceptual differences.

Question17

Walmart's competitive advantage is built on:

Group of answer choices

Their low price strategy.

Their customer service.

Their supply chain of value.

Question18

A new hair salon specifically for children has asked you to evaluate sites for them. What would you consider to be the most important data to start with?

Group of answer choices

What is the income level of the geographic area?

What is the literacy and education level of the geographic area?

How many children reside in the geographic trading area and are there other similar salons in the area?

Question19

A retirement community, where the average age of the population is 70 years old, may not be a good place to open:

Group of answer choices

A low impact fitness center offering a variety of classes suited to all ages.

A restaurant that serves homemade meals.

A child day care center.

Question20

A visual map of overlapping data can be provided by:

Group of answer choices

The U.S. Census by printing out various demographic information and combining it into a map format.

Combining the GIS data with the census data.

Combining different data sources compiled from GIS information.