Question 1

Which of the following is a case of brand cannibalization?

Accepted Answer

A)   A tea manufacturer introduces a new brand of tea that eats into the sales of an existing brand of another manufacturer.
B)   A tea manufacturer introduces a new but inferior brand of tea to promote the sales of an existing tea brand in its product mix.
C)   A tea manufacturer introduces a new brand of tea that eats into the sales of an existing tea brand in its product mix.
D)   A tea manufacturer introduces a new brand of tea that has the unintended result of promoting the sales of an existing brand of another manufacturer.E) A) and D)
F) B) and C)

Question 2

Which of the following is true of the current retail industry?

Accepted Answer

A)   About one in every ten American jobs is in the retail industry.
B)   Most current retail employees are dissatisfied with their jobs.
C)   Most retail businesses employ less than 50 people.
D)   The industry is dominated by many large companies.E) A) and B)
F) A) and C)

Question 3

Which of the following is true of freestanding retail store units?

Accepted Answer

A)   Retailers decide to relocate their businesses in pedestrian malls.
B)   Retailers feel outlets generally stand out better in huge shopping centers and malls.
C)   These account for more than half of all retail store construction in the United States.
D)   These are a bad idea for an aggressive expansion plan in an area without shopping centers.E) None of the above
F) A) and B) C

Question 4

Retailers can better acquire and use assets when they customize store layouts and merchandise mixes to the tastes of local consumer bases.

Accepted Answer

A) True 
 B)False

Question 5

Higher prices often indicate a level of exploitation that weakens the prestigious image of retailers.

Accepted Answer

A) True 
 B)False

Question 6

Lily's Apparel,a renowned apparel store,focuses on Generation Y customers and provides them with a customized clothing experience.Lily's Apparel has defined its target market by _____.

Accepted Answer

A)   religious convictions
B)   educational qualifications
C)   geographic boundaries
D)   psychographic characteristicsE) A) and B)
F) B) and D)

Question 7

Which of the following is widely believed to be true of the audio and visual factors creating a store's atmosphere?

Accepted Answer

A)   Red is used to open up closed-in places and create an air of elegance and cleanliness.
B)   Natural lighting,either from windows or skylights,can lead to increased sales.
C)   Music played in a store cannot influence store traffic or the shopper's focus of attention.
D)   The type of music played cannot influence a customer's choice of product.E) B) and D)
F) B) and C)

Question 8

Why is it important to maintain service quality in service industries? Explain the four areas that service distribution should focus on to maintain the quality of service.

Accepted Answer

Answers will vary.Since service industri...

Question 9

Briefly explain the process of defining a target market.

Accepted Answer

Answers will vary.The first and foremost...

Question 10

Salespeople should practice trading-up techniques,whether customers need those products or not,to increase overall product sales.

Accepted Answer

A) True 
 B)False

Question 11

Dillard's,Target,and Walmart use big data analytics to determine ______.

Accepted Answer

A)   which products to stock and at what prices and how to manage markdowns,but the data cannot be used to plan how to advertise to draw target customers.
B)   which products to stock and at what prices and how to advertise to draw target customers,but the data cannot be used to manage markdowns.
C)   how to manage markdowns and how to advertise to draw target customers,but the data cannot be used to evaluate which products to stock and at what prices.
D)   which products to stock and at what prices,how to manage markdowns,and how to advertise to draw target customers.E) B) and C)
F) None of the above

Question 12

Service quality is a priority in service industries because that industry is especially customer oriented.

Accepted Answer

A) True 
 B)False

Question 13

_____ is the technique used to sift through the data collected by point-of-purchase scanning equipment.

Accepted Answer

A)   Big data analysis
B)   Shopper marketing
C)   Market-basket analysis
D)   Shopper analyticsE) None of the above
F) C) and D)

Question 14

Shopper marketing brings brand managers and account managers together to connect with consumers along the entire path-to-purchase,whether it be at home,on the go via mobile marketing,or in the store.

Accepted Answer

A) True 
 B)False

Question 15

Microtargeting is an effective tool for online retailing.

Accepted Answer

A) True 
 B)False

Question 16

Unlike supermarkets,convenience stores:

Accepted Answer

A)   charge lower prices.
B)   carry a much more limited line of high-turnover convenience goods.
C)   enable customers to shop without visiting a physical store location.
D)   offer no service to customers.E) All of the above
F) A) and B) B

Question 17

Asif,a member of a local baseball team,broke his bat during a practice match.With the final match scheduled for the next day,Asif urgently required a new bat.Therefore,he placed an order on Duke.com,an online portal for sporting goods,and he dropped in at its nearest physical store to pick up his order.This is an example of the use of _____.

Accepted Answer

A)   microtargeting
B)   click-and-collect
C)   telemarketing
D)   e-tailingE) A) and D)
F) A) and C)

Question 18

Briefly explain the actions a retailer should take to address retail product/service failures.

Accepted Answer

Answers will vary.The best retailers have plans in place not only to recover from inevitable lapses in service but perhaps even to benefit from them.For these top-performing stores,service recovery is handled proactively as part of an overarching plan to maximize the customer experience.Actions that might be taken include:
 •Notifying customers in advance of stockouts and explaining the reasons why certain products are not available
•Implementing liberal return policies designed to ensure that the customer can bring back any item for any reason (if the product fails to work as planned, or even if the customer simply doesn’t like it)
•Issuing product recalls in conjunction with promotional offers that provide future incentives to repurchase

In short, the best retailers treat customer disappointments as opportunities to interact with and improve relations with their customers. Evidence indicates that successful handling of such failures can sometimes yield even higher levels of customer loyalty than if the failure had never occurred at all.

Question 19

In a franchise,a franchisor pays a franchisee for the right to use its name,product,and methods of operation.

Accepted Answer

A) True 
 B)False

Question 20

Target markets in retailing are often defined by demographics,geographic boundaries,and psychographics.

Accepted Answer

A) True 
 B)False

Exam 14: Retailing

Which of the following is a case of brand cannibalization?

Correct Answer
verified

Which of the following is true of the current retail industry?

Correct Answer
verified

Which of the following is true of freestanding retail store units?

Correct Answer
verified
C

Retailers can better acquire and use assets when they customize store layouts and merchandise mixes to the tastes of local consumer bases.

Correct Answer
verified

Higher prices often indicate a level of exploitation that weakens the prestigious image of retailers.

Correct Answer
verified

Lily's Apparel,a renowned apparel store,focuses on Generation Y customers and provides them with a customized clothing experience.Lily's Apparel has defined its target market by _____.

Correct Answer
verified

Which of the following is widely believed to be true of the audio and visual factors creating a store's atmosphere?

Correct Answer
verified

Why is it important to maintain service quality in service industries? Explain the four areas that service distribution should focus on to maintain the quality of service.

Correct Answer
verified
Answers will vary.Since service industri...
View Answer

Briefly explain the process of defining a target market.

Correct Answer
verified
Answers will vary.The first and foremost...
View Answer

Salespeople should practice trading-up techniques,whether customers need those products or not,to increase overall product sales.

Correct Answer
verified

Dillard's,Target,and Walmart use big data analytics to determine ______.

Correct Answer
verified

Service quality is a priority in service industries because that industry is especially customer oriented.

Correct Answer
verified

_____ is the technique used to sift through the data collected by point-of-purchase scanning equipment.

Correct Answer
verified

Shopper marketing brings brand managers and account managers together to connect with consumers along the entire path-to-purchase,whether it be at home,on the go via mobile marketing,or in the store.

Correct Answer
verified

Microtargeting is an effective tool for online retailing.

Correct Answer
verified

Unlike supermarkets,convenience stores:

Correct Answer
verified
B

Correct Answer
verified

Briefly explain the actions a retailer should take to address retail product/service failures.

In a franchise,a franchisor pays a franchisee for the right to use its name,product,and methods of operation.

Correct Answer
verified

Target markets in retailing are often defined by demographics,geographic boundaries,and psychographics.

Correct Answer
verified

Exam 14: Retailing

Which of the following is a case of brand cannibalization?

Correct AnswerverifiedShow Answer

Which of the following is true of the current retail industry?

Correct AnswerverifiedShow Answer

Which of the following is true of freestanding retail store units?

Correct AnswerverifiedC

Retailers can better acquire and use assets when they customize store layouts and merchandise mixes to the tastes of local consumer bases.

Correct AnswerverifiedShow Answer

Higher prices often indicate a level of exploitation that weakens the prestigious image of retailers.

Correct AnswerverifiedShow Answer

Lily's Apparel,a renowned apparel store,focuses on Generation Y customers and provides them with a customized clothing experience.Lily's Apparel has defined its target market by _____.

Correct AnswerverifiedShow Answer

Which of the following is widely believed to be true of the audio and visual factors creating a store's atmosphere?

Correct AnswerverifiedShow Answer

Why is it important to maintain service quality in service industries? Explain the four areas that service distribution should focus on to maintain the quality of service.

Correct AnswerverifiedAnswers will vary.Since service industri...View AnswerShow Answer

Briefly explain the process of defining a target market.

Correct AnswerverifiedAnswers will vary.The first and foremost...View AnswerShow Answer

Salespeople should practice trading-up techniques,whether customers need those products or not,to increase overall product sales.

Correct AnswerverifiedShow Answer

Dillard's,Target,and Walmart use big data analytics to determine ______.

Correct AnswerverifiedShow Answer

Service quality is a priority in service industries because that industry is especially customer oriented.

Correct AnswerverifiedShow Answer

_____ is the technique used to sift through the data collected by point-of-purchase scanning equipment.

Correct AnswerverifiedShow Answer

Shopper marketing brings brand managers and account managers together to connect with consumers along the entire path-to-purchase,whether it be at home,on the go via mobile marketing,or in the store.

Correct AnswerverifiedShow Answer

Microtargeting is an effective tool for online retailing.

Correct AnswerverifiedShow Answer

Unlike supermarkets,convenience stores:

Correct AnswerverifiedB

Correct AnswerverifiedShow Answer

Briefly explain the actions a retailer should take to address retail product/service failures.

In a franchise,a franchisor pays a franchisee for the right to use its name,product,and methods of operation.

Correct AnswerverifiedShow Answer

Target markets in retailing are often defined by demographics,geographic boundaries,and psychographics.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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C

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answers will vary.Since service industri...
View Answer

Correct Answer
verified
Answers will vary.The first and foremost...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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B

Correct Answer
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Correct Answer
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Correct Answer
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