Retail Management Exam Review
Course Introduction
Retail Management explores the essential principles and practices of operating retail businesses in todays dynamic marketplace. The course covers topics such as retail strategy, store layout and design, merchandise planning, inventory control, pricing strategies, customer service, and the integration of technology in retail operations. Students will analyze consumer behavior, evaluate various retail formats, and develop skills to manage both brick-and-mortar and online retail environments. Emphasis is placed on problem-solving, decision-making, and the development of effective marketing and management strategies to address current trends and challenges in the retail industry.
Recommended Textbook
CB 2nd Canadian Edition by Murray Babin
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16 Chapters
2117 Verified Questions
2117 Flashcards
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Page 2
Chapter 1: What Is CB, and Why Should I Care?
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119 Verified Questions
119 Flashcards
Source URL: https://quizplus.com/quiz/4730
Sample Questions
Q1) Kayla is engaged in research that seeks to explain the inner meanings and motivations associated with purchasing clothing. She records and analyzes the words that consumers use to describe events and observes shoppers in stores. From that, she develops an understanding of what motivates shoppers. What type of research is Kayla performing?
A) quantitative
B) interpretive
C) sociological
D) independent
Answer: B
Q2) While consumer behaviour refers to human thought and action, it is not considered a field of study.
A)True
B)False
Answer: False
Q3) An exchange is the acting out of a decision to give something up in return for something of equal value.
A)True
B)False
Answer: False
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Chapter 2: Value and the Consumer Behaviour Value Framework
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) Describe the Consumer Value Framework (CVF), including its basic components. Answer: The Consumer Value Framework (CVF) (see Exhibit 2.1) represents consumer behaviour theory illustrating factors that shape consumption-related behaviours and ultimately determine the value associated with consumption. Value is at the heart of experiencing and understanding consumer behaviour. Value then influences relationship quality, which reflects the connectedness between a consumer and a retailer, brand, or service provider. The consumption process can involve a great deal of decision making and thus represents a consumer decision making process. Many internal and external factors influence this process. Internal influences include consumer psychology (i.e., learning, perception, implicit memory, information processing, memory, categorization, and attitude) and the personality of the consumer (i.e., motivation, personal values, personality, lifestyles, emotional expressiveness). External influences include elements in the social environment (i.e., acculturation/enculturation, culture and cultural values, reference groups, social class, and family influence) and situational influences (i.e., atmospherics, time/timing, and conditions).
Q2) Value equals what you get minus what you give.
A)True
B)False
Answer: True
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Chapter 3: Consumer Learning Starts Here: Perception
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135 Verified Questions
135 Flashcards
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Sample Questions
Q1) Compare and contrast implicit and explicit memory and discuss an example of each.
Answer: Implicit memory is memory for things that a person did not try to remember, as with things learned passively and unintentionally. An example of implicit memory is product placement, in which branded products are placed conspicuously in movies or television shows. Explicit memory occurs when the person is indeed trying to remember the stimuli, such as when learning is intentional. An example of explicit memory is students studying for an exam.
Q2) Involuntary attention occurs when a person is startled by a loud noise and turns his head toward the source of the noise.
A)True
B)False
Answer: True
Q3) The mere exposure effect works best when the consumer is distracted from processing the focal stimulus.
A)True
B)False
Answer: True
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Chapter 4: Comprehension, Memory, and Cognitive Learning
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140 Verified Questions
140 Flashcards
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Sample Questions
Q1) Which type of knowledge refers to cognitive components that represent facts in an associative network?
A) declarative
B) subjective
C) objective
D) nodal
Q2) Comprehension is made up of both cognitive and affective elements. What are the two things that are examined in the process of comprehension?
A) thoughts and feelings
B) explicit messages and signals
C) likeability and expertise
D) happiness and sadness
Q3) A print advertisement for Nivea skin lotion uses tangible attributes like pastel colours and script-type fonts to make the product appear feminine. Which characteristic of the message does this exemplify?
A) figure-ground
B) discriminators
C) message source
D) physical characteristics
6
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Chapter 5: Motivation and Emotion: Driving Consumer Behaviour
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) Which type of response means that certain feeling states are tied to behaviour in a very direct way?
A) emotional
B) visceral
C) affective
D) direct
Q2) Refer to Visiting the Dentist Scenario. Dentists are trying to enhance patients' moods by creating a pleasant environment and experience during visits. The hope is that patients' evaluation and memories of the experience can be influenced in a positive way. Which term refers to the idea that controlling a consumer's mood can enhance recall of that experience?
A) aesthetic recall
B) mood-based appraisal
C) mood-congruent recall
D) visceral responsiveness
Q3) Equity theory represents a school of thought describing how specific types of thoughts can serve as a basis for specific emotions.
A)True
B)False
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Chapter 6: Personality, Lifestyles, and the Self-Concept
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145 Verified Questions
145 Flashcards
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Sample Questions
Q1) Explain why lifestyles are important to the study of consumer behaviour and describe how consumer lifestyles are measured.
Q2) Consumer lifestyles refer to the ways consumers live and spend their time and money.
A)True
B)False
Q3) Which perspective focuses on the total person and the uniqueness of his or her psychological makeup rather than focusing on one trait across many individuals?
A) holistic
B) nomothetic
C) universal
D) idiographic
Q4) Which term refers to the totality of thoughts, emotions, intentions, and behaviours that a person exhibits consistently as he or she adapts to his or her environment?
A) self-concept
B) introversion
C) personality
D) individuality
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Chapter 7: Attitudes and Attitude Change
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140 Verified Questions
140 Flashcards
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Sample Questions
Q1) The utilitarian function of attitudes works as a defence mechanism for consumers.
A)True
B)False
Q2) Which of the following is based on the premise that behaviour change can precede belief and attitude change?
A) attitude-toward-the-object approach
B) balance theory
C) schema-based approach
D) behavioural influence approach
Q3) Which approach states that a source feature is most effective when it is paired with relevant products?
A) source credibility
B) matchup hypothesis
C) congruency theory
D) consistency theory
Q4) Describe balance theory and how it can be used to explain the effectiveness of celebrity endorsers in changing consumers' attitudes.
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Chapter 8: Consumer Culture
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118 Verified Questions
118 Flashcards
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Sample Questions
Q1) Theo is looking at how different one nation can be from another in terms of their CSVs. He has learned that Canada is very similar to Australia and the United Kingdom. What concept provides the basis for the approach Theo is using?
A) cultural distance
B) social distance
C) geographic distance
D) cultural differentiation
Q2) Which of the following exists when two phrases share the same precise meaning in two different cultures?
A) equivocating
B) dialectic equivalence
C) meaning transfer
D) translational equivalence
Q3) Which term refers to the process by which consumers come to learn a culture other than their natural, native culture?
A) patriotation
B) enculturation
C) climatation
D) acculturation
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Page 10
Chapter 9: Microcultures
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127 Verified Questions
127 Flashcards
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Sample Questions
Q1) Which term refers to a culturally defined group to which a consumer belongs based on resources like prestige, income, occupation, and education?
A) cohort
B) generation
C) homogamous group
D) social class
Q2) Charlie is a teenager who belongs to a youth group at his church. He does activities with this group that he wouldn't do otherwise, such as help elderly church members with their yard work and grocery shopping. He also participates in bible studies and athletic activities with this group. What is this youth group an example of?
A) a terminal group
B) an assimilation mechanism
C) a microculture
D) a subversive group
Q3) Baby Boomers are important to marketers because many have saved significant sums of money for retirement and plan to enjoy good times well into their elderly years.
A)True
B)False
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11
Chapter 10: Group and Interpersonal Influence
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154 Verified Questions
154 Flashcards
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Sample Questions
Q1) Which term refers to consumers who have great influence on the behaviour of others relating to product adoption and purchase because of their knowledge about specific products or services?
A) primary influencers
B) product innovators
C) informational leaders
D) opinion leaders
Q2) Which type of family consists of a mother, a father, and a set of siblings?
A) primary
B) traditional
C) nuclear
D) original
Q3) Which term refers to a group that a consumer desires to become a member of?
A) formal
B) informal
C) aspirational
D) associative
Q4) Explain the three types of reference group influence. For each type, explain how a reference group is able to influence your behaviour using that type of influence.
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Chapter 11: Consumers in Situations
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126 Verified Questions
126 Flashcards
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Sample Questions
Q1) Define atmospherics and describe the elements of a specific retail store's or restaurant's atmospherics that you like.
Q2) Retailers specializing in things like a wide selection of goods, low prices, guarantees, and knowledgeable employees are positioning based on the functional quality of a retail store.
A)True
B)False
Q3) Advertisers love to feature their advertisements during the 8pm to 10 pm prime time viewing hours. This is the time when most people watch television and will be most receptive to their ads. Which term refers to the practice of running advertisements primarily at times when customers will be most receptive to the messages?
A) advertiming
B) flighting
C) recency
D) circadian cycle
Q4) Compulsive consumer behaviour is harmful.
A)True
B)False
Q5) Explain how value varies with situations.
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Chapter 12: Decision Making I: Need Recognition and Search
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127 Verified Questions
127 Flashcards
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Sample Questions
Q1) A consumer has had a car for 10 years and he thinks it's getting old. Which state does this describe in regard to this consumer's automobile?
A) ideal
B) personal
C) current
D) actual
Q2) Which of the following is the total collection of all possible solutions to a consumer problem?
A) infinite set
B) universal set
C) consideration set
D) total set
Q3) Which index is used by retailers to measure the incremental sales that occur when a product is on display?
A) incremental sales
B) brand-consumption
C) brand-equity
D) brand-lift
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Chapter 13: Decision Making II: Alternative Evaluation and Choice
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) Two major types of rules that consumers use when selecting products are objective rules and subjective rules.
A)True
B)False
Q2) Judgments are mental assessments of the presence of attributes and the benefits associated with those attributes.
A)True
B)False
Q3) Using which rule does the consumer set minimum mental cutoff points for various features and rejects any product that fails to meet or exceed this cutoff point across all features?
A) compensatory
B) conjunctive
C) conjoint
D) lexicographic
Q4) With benefit-based evaluation, alternatives are evaluated across a set of attributes that are considered relevant to the purchase situation.
A)True
B)False
Page 15
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Chapter 14: Consumption to Satisfaction
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) Which term refers to lingering doubts about a decision that has already been made?
A) cognitive dissonance
B) disconfirmation
C) dissatisfaction
D) cognitive unease
Q2) Denise thinks she should get a bigger bonus than her co-workers because she sold more of the company's products than the others. Which type of expectation does this represent?
A) realistic
B) predictive
C) ideal
D) equitable
Q3) Which of the following is a possible postconsumption emotion?
A) need
B) want
C) value
D) anger
Q4) Define consumer refuse and list the disposal alternatives available to consumers. Which alternatives do you use most often?
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Chapter 15: Consumer Relationships
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) Switching costs are the costs associated with changing from one choice, such as a brand, retailer, or service provider, to another.
A)True
B)False
Q2) McDonalds Canada's share of the brewed coffee business at restaurants grew another 2.5% for the year to August and now holds a market share of 13%, double what it was in 2009. What has McDonalds Canada steadily increased in the past few years?
A) market share of the coffee business
B) customer share of the coffee business
C) competitive intensity of the coffee business
D) share price of the coffee business
Q3) Refer to Dissatisfied Customer Scenario. What was Meg engaging in when she told her friends of her infection after getting a pedicure at the nail shop?
A) negative public publicity
B) customer inertia
C) rancorous revenge
D) negative word-of-mouth
Q4) Explain how relationship quality impacts value for both customers and the firm.
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Chapter 16: Marketing Ethics and Consumer Misbehaviour
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175 Verified Questions
175 Flashcards
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Sample Questions
Q1) Anomie is a state that occurs when there is a disconnect between cultural goals and norms and the capacities of members of society to act within societal norms in an effort to achieve those goals.
A)True
B)False
Q2) Which term refers to beliefs regarding an act's fairness or justness?
A) moral equity
B) contractualism
C) teleology
D) relativism
Q3) A toy company has found out that its new stuffed animal the "Sophie Monkey" is going to be the hit of the holiday season. To further increase its profit the company has decided to limit the quantity in certain areas so it can raise the price. Which part of the marketing mix is being used unethically?
A) product
B) place
C) price
D) promotion
Q4) What role does value play in consumer misbehaviour?
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