Final exam pool items (Chs. 9, 11, 12, 13, 14, 15 & 17 not 18)
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ANS: E
See Exhibit 13.1. PTS: 1 REF: 191 OBJ: 13-2 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy 10. _____ shows how much the retailer makes as a percentage of sales after the cost of goods sold is subtracted.
ANS: E
See Exhibit 13.1. PTS: 1 REF: 190 | 191 OBJ: 13-2 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Pricing 11. As a general rule of thumb, a retailer that has a high gross margin will have:
ANS: E
The level of gross margin and the price level generally match. See Exhibit 13.1. PTS: 1 REF: 192 OBJ: 13-2 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Pricing 12. Housing several departments under one roof, a _____ carries a wide variety of shopping and specialty goods and provides a high level of service.
ANS: E PTS: 1 REF: 191 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 13. Applying what you have learned about retailing, which type of retail store would typically have the highest labor costs?
ANS: B
A department store carries a wide variety of shopping and specialty goods in several departments and provides a high level of service, all of which is labor intensive and adds to the cost of doing business. PTS: 1 REF: 191 OBJ: 13-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Pricing 14. Each department in a department store is usually headed by a _____ who selects the merchandise mix for the department and may also choose the promotional devices and personnel for that department.
ANS: E PTS: 1 REF: 191 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution | TB&E Model Promotion 15. The buyer who heads a department in a department store is responsible for the:
ANS: D
Each department in a department store is usually headed by a buyer who selects the merchandise mix for the department and may also choose the promotional devices and personnel for that department. PTS: 1 REF: 191 OBJ: 13-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Product 16. The _____ at John Lewis, Britain’s largest department store chain, selects the merchandise for his or her department and is often responsible for its promotion and for managing the personnel in that department.
ANS: A
Each department in a department store is usually headed by a buyer who selects the merchandise mix for the department and may also choose the promotional devices and personnel for that department. PTS: 1 REF: 191 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Customer | TB&E Model Promotion 17. A _____ is not only a type of store, but also a method of retail operations. This type of retailer specializes in a given type of merchandise with a deep but narrow assortment.
ANS: D PTS: 1 REF: 191 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy 18. Which of the following statements about specialty stores is true?
ANS: C
Customers usually consider price to be of secondary importance in their selection of a specialty store. Customers at specialty stores are very concerned with the distinctiveness of the merchandise or the store's physical appearance. Specialty stores provide a low-risk testing ground for new products. A typical specialty store carries a narrower assortment of specialty merchandise than department stores. PTS: 1 REF: 191 OBJ: 13-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy 19. Texas-based Grape Vine Market is an 18,000-square-foot store offering highly collectible food and wine—along with some other culinary perks, including a cooking school—all in a setting crafted to make shoppers feel comfortable. It stocks more than 5,500 different kinds of wine. This description alone is enough to tell you that Grape Vine Market is best described as a:
ANS: C A specialty store is not only a type of store, but also a method of retail operations, specializing in a given type of merchandise with a deep but narrow assortment. PTS: 1 REF: 191 OBJ: 13-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product 20. Texas-based Fresh Plus carries 40 brands of olive oil ranging from low to high end, including Laudemio Olive Oil at $38.99 for 16.9 ounces. Fresh Plus also boasts a large “Taste of Texas” section. TexaFrance Salsas and Pestos, Rose’s Salsa, Tom’s Tabouli, Kinky Friedman’s Salsa, Blue Bell Ice Cream, and Goodflow Juices and Honey are among the local showcased products. Fresh Plus differentiates itself from other stores through the use of:
ANS: B A specialty store is not only a type of store, but also a method of retail operations, specializing in a given type of merchandise with a deep but narrow assortment. Customers are drawn by the assortment, which is highly specialized and more complete than in other types of retail stores. PTS: 1 REF: 191 OBJ: 13-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Product 21. A manufacturer wants to introduce a line of hand-smocked children's clothing to the growing number of professional women who are now having babies. The least expensive of these outfits will be $75. Which of the following types of stores would most likely support an effective product launch?
ANS: B
Small specialty stores provide a low-risk testing ground for many new product concepts. PTS: 1 REF: 191 OBJ: 13-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Pricing 22. _____ are large, departmentalized, self-service retailers that specialize in wide assortments of foodstuffs and a few nonfood items.
ANS: A PTS: 1 REF: 191-192 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy 23. Which of the following environmental trends is most directly influencing supermarket operations?
ANS: C PTS: 1 REF: 193 | 195 OBJ: 13-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy
ANS: E The key factors are the emphasis on food and the size of the stores. PTS: 1 REF: 191-192 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 25. Spar is Ireland's largest supermarket chain. Which of the following is the most likely reason why Spar supermarkets sell all types of foodstuffs as well as nonfood products including a wide range of firearms and gun accessories?
ANS: A In many cases, supermarkets offer a wide variety of nontraditional goods and services under one roof (a strategy called scrambled merchandising) to respond to consumers who want convenience. PTS: 1 REF: 193 OBJ: 13-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Product 26. According to the text, one way supermarkets establish long-term relationships with their customers is to:
ANS: D
One of the trends in supermarkets is taking advantage of growing ethnicity. Also supermarkets, commonly use scrambled merchandising. PTS: 1 REF: 192 OBJ: 13-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Customer 27. When supermarkets offer a wide variety of nontraditional goods and services under one roof, they are engaged in:
ANS: C PTS: 1 REF: 192 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product 28. Safeway, Avanza (for the Hispanic market), Publix, and other supermarket chains offer a variety of nontraditional goods and services such as video rental, flower shops, dry cleaning, and banking. This practice is called:
ANS: E
In many cases supermarkets offer a wide variety of nontraditional goods and services under one roof, a strategy called scrambled merchandising. PTS: 1 REF: 192 OBJ: 13-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product 29. The initial attraction of drugstores for consumers was the pharmaceuticals they carried, but now consumers can have their prescriptions filled at mass merchandisers, and supermarkets and through the mail. What have drugstores done to remain competitive?
ANS: C
They have added such services as being open 24 hours a day, seven days a week, and installing drive-through windows. PTS: 1 REF: 192 OBJ: 13-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Customer 30. _____ carry a limited line of high-turnover, high-priced goods and resemble miniature supermarkets. These self-service stores are typically located near residential areas and are open long hours, seven days a week.
ANS: C PTS: 1 REF: 192 OBJ: 13-3 TYPE: Def Directory: ~ecarter2 ~ecarter2 -> SP14 mktg 490 case analysis – product/brand strategy – samsung electronics ~ecarter2 -> The menu of mktg 490 cases [Dr. Carter] ~ecarter2 -> Real-world Download 3.11 Mb. Share with your friends:
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