(Test Bank) Retailing Management, Canadian Edition

Levy, 6

Business

Test Bank

6th Edition

• $15.00 $50.00

---

Description

Test Bank for Retailing Management, Canadian Edition, The downloadable file consists of 600 pages, and the total size of the file is 3.96 MB. Purchase now only for highly discounted price.

Author(s): Levy

---

---

Study Note Preview

Chapter 01 - Introduction to the World of Retailing 1-1 Chapter 01 Introduction to the World of Retailing Multiple Choice Questions 1. The largest sectors in terms of retail sales are: A. General merchandise and Clothing B. Pharmacies and Building supplies C. Food, Beverage, and Automotive D. Furniture and Pharmacies E. Automotive and Building supplies Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 01-03 Know the economic significance of retailing in Canada. Topic: 01-06 Retail sales in Canada 2. Retail managers must make complex decisions including all of the following EXCEPT: A. Target markets B. Retail locations C. Merchandise and services offerings D. Mission statement E. Training and motivating sales associates Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Medium Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-13 Developing a retail strategy Chapter 01 - Introduction to the World of Retailing 1-2 3. What is retailing? A. It is the set of business activities that adds value to the products and services sold to consumers for their personal or family use B. It is the merchandising component of the retail mix C. It is the strategy retailers and vendors use to get products into the stores D. It is the process of offering products in smaller quantities for consumer consumption patterns E. It is the ability to offer enough variety in a store to encourage one-stop shopping Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Define retailing. Topic: 01-01 What is Retailing 4. Which of the following businesses would be considered a retailer? A. Your local hair salon B. Air Canada C. Tim Hortons D. Canadian Tire E. Your local hair salon, Air Canada, Tim Hortons, and Canadian Tire Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Medium Learning Objective: 01-01 Define retailing. Topic: 01-01 What is Retailing 5. Which of the following is most likely to be considered a retailer? A. A cyber-security firm B. A university C. A marketing agency D. A long-haul freight transportation logistics provider E. A commercial realtor Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Medium Learning Objective: 01-01 Define retailing. Topic: 01-01 What is Retailing Chapter 01 - Introduction to the World of Retailing 1-3 6. A retailer's role in the distribution channel is to: A. act as the liaison between manufacturers and wholesalers B. buy merchandise exclusively from the manufacturers C. negotiate with consumers through a series of focus groups D. satisfy the needs of the consumers E. sell to wholesalers Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-02 Understand the role retailers play in the distribution channel and the functions they perform. Topic: 01-02 A retailer's role in a distribution channel 7. What best describes firms that perform more than one set of activities in the distribution channel? A. Channel diversification B. Distribution channel C. Horizontal integration D. Vertical development E. Vertical integration Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-02 Understand the role retailers play in the distribution channel and the functions they perform. Topic: 01-02 A retailer's role in a distribution channel Chapter 01 - Introduction to the World of Retailing 1-4 8. Prior Snowboards located in Whistler, B.C. manufactures many of the snowboards it sells in its retail outlet at its own factory in Canada. Prior Snowboards is practising: A. demographic marketing. B. globalization. C. product-related marketing. D. vertical integration. E. wholesaling. Because the retail chain owns its own manufacturing facility, it is an example of vertical integration. Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Medium Learning Objective: 01-02 Understand the role retailers play in the distribution channel and the functions they perform. Topic: 01-02 A retailer's role in a distribution channel 9. If a chain of flower shops opened a plant nursery to provide gift plants and cut flowers to all of its outlets within a 300-mile radius, the chain would be practicing: A. vertical integration B. channel expansion C. horizontal expansion D. vertical retailing E. service marketing The florist is performing more than one channel function. Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Medium Learning Objective: 01-02 Understand the role retailers play in the distribution channel and the functions they perform. Topic: 01-02 A retailer's role in a distribution channel Chapter 01 - Introduction to the World of Retailing 1-5 10. What is the primary competitive advantage for retailers to be vertically integrated? A. Retailers can develop unique merchandise sold only in their stores. B. Retailers can expand their services easily to the Internet. C. Retailers have realized that to stay competitive, they must become vertically integrated. D. Customers prefer retailers who are vertically integrated. E. Retailers can develop unique pricing strategies. Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Hard Learning Objective: 01-02 Understand the role retailers play in the distribution channel and the functions they perform. Topic: 01-02 A retailer's role in a distribution channel 11. A retailer that is vertically integrated: A. concentrates on selling to businesses only B. does not have frequent communication between buyers and managers C. has an excellent vertical relationship between corporate headquarters and stores D. performs more than one function in the chain from manufacturing to sales to end user E. performs only the function to end user Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 01-02 Understand the role retailers play in the distribution channel and the functions they perform. Topic: 01-02 A retailer's role in a distribution channel 12. Which of the following statements about retailers holding inventory is false? A. By having inventory held in the store, consumers can hold less merchandise at home B. By holding inventory, retailers can decrease the visual merchandising expenditure C. Holding inventory in a store helps serve the customer's needs D. Retailers keep inventory so that products are available when consumers want them E. Holding inventory reduces consumer's cost of storing products Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Medium Learning Objective: 01-02 Understand the role retailers play in the distribution channel and the functions they perform. Topic: 01-03 Functions performed by retailers Chapter 01 - Introduction to the World of Retailing 1-6 13. Grocers purchase bananas from several different tropical countries. When bananas arrive in the distribution centres across Canada, containers are reduced to amounts that are appropriate for store delivery. Once delivered to the stores, associates open the cartons and arrange the bananas for the consumer to select. Grocers are performing what function? A. Holding inventory B. Vertical integration C. Breaking bulk D. Distribution E. Providing services Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Medium Learning Objective: 01-02 Understand the role retailers play in the distribution channel and the functions they perform. Topic: 01-03 Functions performed by retailers 14. Providing assortments is an advantageous business activity because it: A. enables the company to create a more informational and entertaining environment which would promote more sales B. enables the company to reinvest savings C. enables the customer to choose from a wide selection of brands, designs, sizes, and prices all in one store D. enables the customer to save money by being able to shop in one store E. enables the customer to stock up on the assortments because of their availability Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 01-02 Understand the role retailers play in the distribution channel and the functions they perform. Topic: 01-03 Functions performed by retailers Chapter 01 - Introduction to the World of Retailing 1-7 15. Which of the following is NOT an example of how retailers provide services aimed to enhance the customer's perception of value? A. Clean washrooms B. Payment by debit cards C. Trained salespeople to answer questions D. Well-lit parking lots E. Deep assortment of products Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-02 Understand the role retailers play in the distribution channel and the functions they perform. Topic: 01-03 Functions performed by retailers 16. One of the functions retailers undertake to increase the customer's perception of value is providing services. Which of the following would be an example of that activity? A. Ignoring the competition B. Increasing employee theft C. Performing a situation analysis D. Selling on the Internet as an additional channel E. Creating a new media advertisement Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 01-02 Understand the role retailers play in the distribution channel and the functions they perform. Topic: 01-03 Functions performed by retailers Chapter 01 - Introduction to the World of Retailing 1-8 17. A credit union holds and maintains detailed records of the banking activities of its members. Each quarter, the credit union provides its members a printout of banking activities, information about low rate loans and pre-owned automobiles. By contacting its members on a regular basis, the credit union is engaging in the business function of: A. breaking bulk. B. holding inventory. C. providing assortments. D. providing services. E. vertical integration. Maintaining records and informing members are services. Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Easy Learning Objective: 01-02 Understand the role retailers play in the distribution channel and the functions they perform. Topic: 01-03 Functions performed by retailers 18. Retailing is the nation's largest industry in terms of: A. community involvement B. competition C. employment D. promotions E. variety Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-03 Know the economic significance of retailing in Canada. Topic: 01-06 Retail sales in Canada Chapter 01 - Introduction to the World of Retailing 1-9 19. Provinces with the highest retail sales in order are: A. Ontario, British Columbia, Quebec, and Alberta. B. Ontario, Alberta, Quebec, and British Columbia. C. Alberta, Atlantic Canada, Ontario, British Columbia, and Quebec. D. Ontario, Quebec, British Columbia and Alberta. E. Quebec, British Columbia, Prairies, Ontario, and Atlantic Canada. Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 01-03 Know the economic significance of retailing in Canada. Topic: 01-06 Retail sales in Canada 20. Large retail chains dominate many segments in the Canadian marketplace. The top 100 retail organizations still control _______percent of the non-automotive retail sales. A. 100 B. 75 C. 50 D. 10 E. 5 Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 01-03 Know the economic significance of retailing in Canada. Topic: 01-06 Retail sales in Canada 21. The competition between the same types of retailers is called: A. indirect competition B. intertype competition C. intratype competition D. scrambled merchandising E. vertical integration Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-12 Understanding the world of retailing Chapter 01 - Introduction to the World of Retailing 1-10 22. Which of the following would be an example of intratype competitors? A. Walmart and Target B. Sears and La Senza C. IGA and Shoppers Drug Mart D. Future Shop and eBay E. Loblaws and Amazon.ca Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-12 Understanding the world of retailing 23. Best Buy (electronics) and Future Shop (electronics) are what type of competitors? A. indirect B. intratype C. intertype D. vertical E. horizontal Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-12 Understanding the world of retailing 24. Which of the following would be an intratype competitor for an IGA supermarket? A. Walmart B. Subway C. Loblaws D. Shoppers Drug Mart E. Old Navy Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-12 Understanding the world of retailing Chapter 01 - Introduction to the World of Retailing 1-11 25. What is variety? A. Variety is the number of different merchandise categories within a store B. Variety is the number of different SKU's within a merchandise category C. Variety is the number of different items in a category D. Variety is another term for scrambled merchandising E. Variety is the number of different facets of the business plan Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-13 Developing a retail strategy 26. When McDonald's opened its first restaurant, a hungry patron could order a hamburger, French fries and a shake. In those early years, McDonald's did not offer much: A. assortment B. product depth C. quantity D. value E. variety Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Medium Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-13 Developing a retail strategy 27. Indigo stores sell Godiva chocolates. By selling such products, Indigo is: A. offering a good merchandise mix B. offering what the market demands C. offering deep product assortments D. practicing intratype competition E. practicing scrambled merchandising Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-13 Developing a retail strategy Chapter 01 - Introduction to the World of Retailing 1-12 28. The offering of merchandise not typically associated with the store type is called: A. channel conflict B. intratype competition C. product diversification D. scrambled merchandising E. vertical differentiation Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-13 Developing a retail strategy 29. Delia was delighted to see that the local Shoppers Drug Mart carried milk, bread, and snacking crackers. Her delight indicates the retailer is practising: A. a deep product assortment. B. an acceptable merchandising mix. C. a retail mix. D. scrambled merchandising. E. this type of intratype competition. Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Medium Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-13 Developing a retail strategy 30. Scrambled merchandising increases: A. vertical integration B. intertype competition C. concentric diversification D. horizontal integration E. intratype competition Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-12 Understanding the world of retailing Chapter 01 - Introduction to the World of Retailing 1-13 31. Which of the following would NOT be an example of intertype competition? A. A supermarket and a fresh flower stand B. A specialty store and a department store C. A department store and a pharmacy D. A convenience store and a fast food restaurant E. A large grocery store in a rural area and a grocery store in a strip mall Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Easy Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-12 Understanding the world of retailing 32. Walmart, Loblaws, and Future Shop are in what kind of competition? A. channel B. horizontal C. indirect D. intertype E. intratype Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Easy Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-12 Understanding the world of retailing 33. Increasing intertype competition has made it harder for retailers to identify their: A. competition. B. target market C. merchandise mix D. retail mix E. market Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-12 Understanding the world of retailing Chapter 01 - Introduction to the World of Retailing 1-14 34. The intensity of competition is greatest among retailers when: A. price dominates the retail mix B. they are located near each other and offer similar retail offerings C. they are located near each other and target the same customer D. they are located far from each other and offer similar retail offerings E. they are located far from each other and target the same customer Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Hard Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-11 The Retail Management Decision Process 35. As part of a retailing strategy, a retailer looks to changes in demographics and responds to these changes with their retail mix. The following are examples of demographic trends except: A. the growth of the elderly population. B. the increased emphasis on customer service. C. the growth of minority segments. D. the rising number of two-income families. E. the retirement of the Baby Boomers. All choices other than the increased emphasis on customer service refer to demographics. The increased emphasis on customer service is part of a strategy a retailer may pursue to satisfy the needs of these particular customers. Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-13 Developing a retail strategy Chapter 01 - Introduction to the World of Retailing 1-15 36. Once a retailer understands its environment, it needs to develop and implement a(n): A. retail strategy B. advertising plan C. customer base D. competitive strategy E. functional strategy Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-13 Developing a retail strategy 37. Lydia owns the Shake Shack, a small ice cream shop on a busy beach boardwalk that specializes in a variety of milkshakes, malts and cones. She has identified her customer as a person walking on the boardwalk-mostly vacationers who want something cool and quick with no frills. She located herself close to parking for easy access, unlike some of her competitors. Lydia seems to have developed a strong: A. business concept B. business plan C. location strategy D. retail strategy E. selling strategy A retail strategy identifies the target market, the merchandise or service the retailer offers to satisfy the needs of the market and how the retailer will build a long-term competitive advantage over its competitors. Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Medium Learning Objective: 01-05 Discuss different types of decisions retail managers make. Topic: 01-13 Developing a retail strategy