E-Commerce and Retailing Exam Review
Course Introduction
This course explores the fundamental concepts, strategies, and technologies that drive electronic commerce and modern retailing in a digital marketplace. Students will examine the evolution of online business models, digital payment systems, supply chain integration, customer relationship management, and the use of data analytics in e-commerce. Emphasis is placed on understanding the strategies used by successful online retailers, the challenges and opportunities associated with omnichannel retail, and the ethical, legal, and global implications of conducting business on the internet. Through case studies and practical assignments, students will gain insights into launching, managing, and scaling e-commerce operations in the contemporary retail environment.
Recommended Textbook
Retail Management 8th Edition by Michael
Levy Barton A. Weitz
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18 Chapters
1656 Verified Questions
1656 Flashcards
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Page 2
Chapter 1: Introduction to the World of Retailing
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Sample Questions
Q1) Initially,Anita Roddick,the founder of The Body Shop,recycled bottles to save money when the company was in its infancy.What stage would this be considered in terms of Corporate Social Responsibility in their strategy?
A)Initial stage
B)Second stage
C)Tertiary stage
D)Fourth stage
E)Acquisition stage
Answer: B
Q2) Macy's,JCPenney and Nordstrom engage in ___________ competition.
A)indirect
B)intratype
C)intertype
D)vertical
E)horizontal
Answer: B
Q3) Ethical principles can change over time.
A)True
B)False
Answer: True
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Chapter 2: Types of Retailers
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Sample Questions
Q1) The North American Industry Classification System (NAICS):
A)was developed by the Federal Trade Commission (FTC)
B)uses an 8-digit classification system
C)was created to collect data on North America's business activity
D)is limited in its use to only retail institutions
E)is used only by the United States
Answer: C
Q2) Explain strategies which limited assortment supermarkets (extreme value food retailers)have used in order to provide customers with high quality merchandise at low prices to compete against other food retailing formats?
Answer: Rather than carrying deep merchandise, (e.g. ,carrying many brands),limited assortment stores offer one or two brands and sizes,one of which is a store brand and one of which is a popular national brand.Stores are designed to maximize efficiency and reduce costs.They have fewer employees for service and are located in second- or third-tier shopping centers with low rents.By trimming costs,they can offer high quality merchandise at 40 percent lower prices than conventional supermarkets.Save-a-Lot and ALDI are examples of limited assortment supermarkets (extreme value food retailers).
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Page 4
Chapter 3: Multi-Channel Retailing
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Sample Questions
Q1) Describe how multichannel retailers have the opportunity to have a strategic advantage over single-channel competitors.
Answer: There are two strategic resources that multichannel retailers have that are not easily detected or duplicated by store based,single channel competitors.Those are (1)propriety information about customer purchase history and shopping behavior and (2)unique "how-to" knowledge about coordinating the activities across channels. Multichannel retailers have a greater opportunity to develop extensive information about their customers and can use this information to more effectively target their offerings and marketing activities.
Q2) The major advantage of TV home shopping compared to catalog retailing is:
A)its ability to create time and place utility
B)the lack of federal regulation of the media
C)the easy return policy for unsatisfactory products
D)its ability to schedule when certain types of merchandise will be shown
E)that customers can see the merchandise demonstrated on TV
Answer: E
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Chapter 4: Customer Buying Behavior
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Sample
Questions
Q1) Even though Miller loves bacon,he is worried about his cholesterol.He is also concerned how eating bacon may affect it.Before deciding to buy lower-fat Oscar-Meyer Bacon,he read the label information on all the various brands of bacon in the meat counter.Miller engaged in:
A)Complex decision making
B)Extended problem solving
C)Habitual decision making
D)Limited problem solving
E)Unlimited problem solving
Q2) Which of the following is NOT a stage in the buying process?
A)Evaluation
B)Making a selection
C)Need recognition
D)Searching for information
E)Desire
Q3) When a customer is loyal to a store,they are involved in habitual decision making.
A)True
B)False
Q4) What are the three types of consumer decision-making processes?
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Chapter 5: Retail Market Strategy
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Sample Questions
Q1) Which of the following is the most critical aspect of a retailer's situation assessment?
A)an emphasis on short-term profit
B)an understanding of demographic trends
C)an analysis of the entire external environment
D)a close examination of the competition
E)a determination of the retailer's unique capabilities
Q2) Jose runs a gallery which specializes in neon art with an emphasis on vacation icons like flamingos,dolphins,and palm trees.Since demand was high,and supplies were low,he decided to buy an old warehouse,and then hire craftspeople to work there in order to produce the art.He would provide them with all of the supplies they needed,and he would be their only customer.Jose engaged in:
A)Horizontal integration
B)Market expansion
C)Co-operative buying
D)Market penetration
E)Vertical integration
Q3) Why would a retailer desire to have private label or store brands?
Q4) Name five approaches for retailers to develop a sustainable competitive advantage.
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Page 7
Chapter 6: Financial Strategy
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Sample Questions
Q1) Second Chance is a paperback book exchange.For each book trade,the buyer pays a $1 trade fee.Books that are sold and not traded cost half of their original purchase price.The store has total assets of $126,000 and current assets of $40,200.Its net sales equaled $35,000 and its net profit after taxes was $9,000.Calculate the store's net profit percentage.
A)7.1%
B)21.7%
C)22.4%
D)25.7%
E)27.7%
Q2) What are net sales?
A)What is remaining after operating and interest expenses.
B)The combination of total customer returns and customer allowances.
C)The revenues received from selling merchandise.
D)The difference between gross profit and gross sales.
E)The difference between cost of goods sold and gross sales.
Q3) Why can two retailers who pursue very different strategies have the same return on investment?
Q4) Identify and describe the three types of objectives retailers might have in the strategic planning process.
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Chapter 7: Retail Locations
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Sample Questions
Q1) Which of the following types of retailers does NOT cater to shoppers who are engaged in convenient shopping situations?
A)convenience stores
B)drugstores
C)fast-food restaurants
D)supermarkets
E)auto dealerships
Q2) Retail developers need to take into consideration legal aspects when they are evaluating different locations.Describe the four different main legal considerations.
Q3) An old factory was converted into condominiums on the top six floors,a health club on the fourth floor,offices on floors two and three and specialty shops and restaurants on the ground floor.This would be an example of a(n)_________.
A)omnicenter
B)mixed use development
C)multiformat development
D)theme/festival center
E)super regional mall
Q4) What are three advantages that shopping malls have over alternative locations?
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9
Chapter 8: Retail Site Location
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Sample Questions
Q1) Although retailers gain economies of scale from opening multiple locations in an area,they also suffer diminishing returns associated with locating too many additional stores in an area.This is called:
A)channel competition
B)economies of scope
C)sales cannibalization
D)channel integration
E)operating costs
Q2) Schnuck's Grocery Store is located in St.Louis,Missouri.The owner has taken a map and has drawn three different sized shapes around the store's location.Those people that are located in only the largest shape being beyond a 15 minute drive radius of the store are in what's referred to as the store's _________.
A)geographic market
B)market trading area
C)delineated market
D)tertiary trading area
E)inclusive trading area
Q3) Why are grocery stores opening locations in urban neighborhoods that were once viewed as undesirable locations?
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Page 10
Chapter 9: Human Resource Management
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Sample Questions
Q1) What is empowerment,how can retailers implement this in practice and what are the results of empowering employees?
Q2) What are some of the major legal issues in human resource management in the retail industry?
Q3) Compare and contrast the advantages of a centralized organizations and a decentralized organization.
Q4) Managing diversity means:
A)simply obeying all equal employment opportunity laws
B)trying to get everyone to think and act alike to avoid problems
C)using the same approach to deal with each employee
D)treating each employee as a unique individual as long as it does not affect the treatment they get
E)accepting and valuing how employees differ from each other
Q5) What is the major DISADVANTAGE of centralization?
A)increased overhead expenses
B)different merchandise in each store
C)the need to have standardized operating policies
D)the inability to use national advertising media
E)the inability to quickly respond to changes in local environments
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Chapter 10: Information Systems and Supply Chain Management
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Sample Questions
Q1) The retailer's order is transmitted to the distribution system via computers.Then the computer at the distribution center creates a(n)____,a document or display on the screen in a forklift truck that tells the order filler how much of each item to get from the storage area and to take to the staging area.
A)order for selection
B)pick ticket
C)requisition order
D)sorting order
E)selection list
Q2) Ali supervises the conveyor belts in a distribution center.Her job is to make sure the merchandise moves quickly from the receiving docks to the staging area in order for the trucks to load and deliver.No merchandise is stored as the vendors already prepared it specifically for the stores.Ali works in ______________________ at the distribution center.
A)cross examination
B)cross-docking
C)cataloging
D)cross-checking
E)reverse logistics
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Chapter 11: Customer Relationship Management
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Sample Questions
Q1) What is customer loyalty to a retailer?
A)Customers that are committed to purchasing from the retailer and will seldom shop at the competition
B)Customers that have a high frequency of purchasing merchandise from the retailer
C)Customers that have most recently shopped and purchased from the retailer
D)Customers that have the highest amount of their purchases at one retailer would be loyal to that retailer
E)Customers that have positive emotions about a retailer would be loyal to that retailer
Q2) When consumers agree to share personal information,it is referred to as _______.
A)participatory knowledge
B)opting in
C)public information
D)getting out
E)opting out
Q3) Describe approaches that retailers use in dealing with unprofitable customers.
Q4) What are the benefits of frequent shopper programs?
Q5) What information does a customer database contain?
Q6) What is market basket analysis,and when do retailers utilize it?
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Chapter 12: Managing the Merchandise Planning Process
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Sample Questions
Q1) Which of the following does NOT describe the department in the merchandise classification scheme?
A)It is the second level in the merchandise classification scheme
B)It is a lower level than the merchandise group in the merchandise classification scheme
C)It is a level higher than classification
D)The DMM,who manages the department,is responsible for several merchandise classifications
E)It is managed by a general merchandise manager (GMM)
Q2) ____________ is a group of items targeting the same customer type,such as girls' size 4 to 6.
A)The SKU
B)The department
C)The merchandise group
D)The classification
Q3) What can a retailer do to increase inventory turnover and what are the drawbacks to these approaches?
Q4) What are the factors that determine the level of required backup stock?
Q5) What are decisions based upon for allocating merchandise to stores?
Q6) Describe both the staple merchandise and fashion merchandise categories.
Page 14
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Chapter 13: Buying Merchandise
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Sample Questions
Q1) What is the advantage to a national retailer to sell private labels?
A)The retailer spends less on advertising private label brands and therefore saves money.
B)Since the retailer carries the cost of advertising of a private label,the costs are covered by the consumer.
C)Since nationwide stores carry the private brands,it gives little choice to the consumer about assortments.
D)Since it is a national retailer,customers will naturally know the private label.
E)By selling private labels,the national retailer can differentiate their assortments.
Q2) All of the following are terms for products developed by retailers EXCEPT ________.
A)store brands
B)private-label brands
C)house brands
D)own brands
E)manufacturer brands
Q3) What are some of the benefits of offering private labels?
Q4) What are some of the drawbacks of using a private label brands?
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15
Chapter 14: Retail Pricing
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Sample Questions
Q1) What can a retailer do to ensure consistency between their market strategy and their price position?
A)They can collect and analyze price data to determine if the store is maintaining their desired market position compared to their competition.
B)They can consistently offer lower prices and allow the consumer to determine market share.
C)They can purchase more of the merchandise to relay the lower prices onto the consumer.
D)They can price for margins and create a better shopping experience.
Q2) What is a limitation of the rule-based approach to taking markdowns?
A)The rule-based approach is based upon gross margin.
B)The approach prohibits input from the vendor.
C)The approach does not follow a fixed schedule.
D)It does not consider the demand for merchandise at different prices and thus produces less-than-optimal profits.
E)The approach assumes that items in a category do not exhibit the same behavior.
Q3) Although many may initially disagree,why is Walmart legally not guilty of predatory pricing?
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Page 16
Chapter 15: Retail Communication Mix
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Sample Questions
Q1) In the late 90's,Sears spent much of its communication budget advertising the "Softer Side of Sears" campaign since it felt the customer knew very little of Sears' apparel assortments and thus there would be a substantial return from advertising apparel versus advertising the more known appliances.What principle for budget allocation was Sears potentially using?
A)percentage of sales method
B)rule of thumb method
C)asset principle
D)high-assay principle
E)affordable method
Q2) In a national print advertisement,Levi's was showcasing their new denim jean products.At the bottom of the ad,Macy's logo was found as a place where the new denim jeans could be purchased by customers.This is an example of ______.
A)co-op advertising
B)partnering promotions
C)a double truck
D)a double pocket promotion
E)a spot promotion
Q3) How can having strong brands benefit a retailer?
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Page 17
Chapter 16: Managing the Store
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Q1) Which of the following statements about the use of testing in the screening process is true?
A)Affirmative action laws require that everyone be given an honesty test.
B)Most companies use lie detector tests to assess applicants' honesty.
C)Testing can only be used as a part of the screening process when it can be proved the test scores are directly related to job performance.
D)Testing programs are good ways to encourage socialization.
E)Testing programs are typically part of new employee orientation.
Q2) The process whereby one person attempts to influence another to accomplish some company goal or goals is called ________.
A)authority
B)leadership
C)responsibility
D)power
E)chain of command
Q3) Explain the differences between an autocratic leader and a democratic leader.
Q4) How are a job analysis and a job description different?
Q5) Describe the difference between employee intrinsic and extrinsic rewards.
Q6) What are the benefits of a job analysis?
Page 18
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Chapter 17: Store Layout, Design, and Visual Merchandising
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Sample Questions
Q1) _____ is used to present products when retailers offer a limited number of predetermined price points within a product classification category.
A)Flexible pricing
B)Competitive pricing
C)Price presentation
D)Price lining
E)Price limiting
Q2) A diagram that shows how and where specific products should be placed on retail shelves or displays to increase customer purchases is called a(n)_______.
A)merchandise plan
B)allocation plan
C)placement plan
D)planogram
E)assortment plan
Q3) Newman is opening a produce market in his neighborhood.What suggestions would you make for him in regards to effectively using signage?
Q4) What are the advantages and disadvantages of a grid layout?
Q5) When would an end cap be used and how is an end-cap an effective display?
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Chapter 18: Customer Service
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Sample Questions
Q1) The Hometown Dog Groomer offered a free flea dip to all of its regular customers.The owner had extra employees to deal with a crowd,but provided only one dip tank,which really slowed down the process.What could the owner do to better deliver the desired service?
A)plan for a better resource-to-yield output
B)provide instrumental support
C)provide better output support
D)have intangible resources readily available
E)have marginal resources readily available
Q2) Customers are satisfied when their expectations exceed their experiences. A)True
B)False
Q3) Customer dissatisfaction is inevitable.What are the three steps a retailer should do for service recovery?
Q4) Customers evaluate retailer's customer service and compare their expectations with the services they actually receive.What are the five customer service characteristics that affect customer's opinions of service quality and what constitutes customer satisfaction?
Q5) What is the difference between personalized services and standardization services?
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