Retail Management Practice Questions
Course Introduction
Retail Management provides a comprehensive overview of the key concepts, strategies, and practices essential to the effective operation of retail businesses. The course explores the dynamic retail environment, including store layout, merchandising, supply chain management, customer experience, and the impact of technological advancements. Students will gain an understanding of consumer behavior, retail marketing, visual merchandising, inventory control, and the use of data analytics in decision-making. Emphasis is placed on real-world applications through case studies and industry trends, preparing students for careers in a rapidly evolving retail sector.
Recommended Textbook
Marketing The Core 5th Edition Canadian by Roger A. Kerin
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15 Chapters
1617 Verified Questions
1617 Flashcards
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Page 2
Chapter 1: Marketing Fundamentals
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122 Verified Questions
122 Flashcards
Source URL: https://quizplus.com/quiz/61321
Sample Questions
Q1) The owners of Old School Brand Authentic Antique Foods researched cookbooks to come up with recipes for the old-fashioned products they market.Concern about the _____ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.
A)product
B)price
C)promotion
D)place
Answer: C
Q2) Sound and Cinema is a 10-year-old company that turns an ordinary basement into a home theatre.It advertises in publications that are mailed to homeowners in subdivisions in which the least expensive home costs $475,000.These homeowners are the _____ market for Sound and Cinema.
A)mass
B)tangent
C)experiential
D)target
Answer: D
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Page 3
Chapter 2: The Marketing Environment
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136 Verified Questions
136 Flashcards
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Sample Questions
Q1) Brad has $50,000 left after paying taxes and for necessities such as food, shelter, and clothing.This amount refers to his _____.
A)disposable income
B)gross income
C)variable income
D)discretionary income
Answer: D
Q2) Increased interest in healthy living has been driven by growth in the young adult population.
A)True
B)False
Answer: False
Q3) Showrooming refers to when consumers use mobile devices to check product pricing and reviews online while in a retail store.
A)True
B)False
Answer: True
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Chapter 3: Consumer Behaviour
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111 Verified Questions
111 Flashcards
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Sample Questions
Q1) How is the family life cycle related to marketing? Describe with examples. Answer: Students' examples may vary.
Consumers act and purchase differently as they go through life.From this observation comes the family life cycle concept, which holds that each family progresses through a number of distinct phases from point of formation to retirement, each phase bringing with it identifiable purchasing behaviours.For example, young singles' buying preferences are for nondurable items, while young married couples without children typically purchase home furnishings and gifts for each other.
Q2) Hank is watching television and sees an advertisement for a new snack food that he decides to purchase.This is an example of recognizing a need.
A)True
B)False
Answer: True
Q3) _____ needs are concerned with love and friendship.
A)Physiological
B)Safety
C)Social
D)Esteem
Answer: C
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Page 5
Chapter 4: Market Research Metrics and Analytics
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) Canadian Tire is introducing a new range of barbecues.It may throw in some freebies with the new barbecue models.The retail chain wants to know about changes in consumer behaviour to determine reactions to its new barbecue range and freebies over time.Which of the following techniques should Canadian Tire use to measure such changes over time?
A)test market
B)survey
C)experiment
D)observational research
Q2) Research designed to identify cause-and-effect relationships among variables is termed _____.
A)descriptive research
B)preliminary research
C)ethnographic research
D)causal research
Q3) Big data refers to data used exclusively by large companies.
A)True
B)False
Q4) What is exploratory research?
Q5) Explain descriptive research.
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Chapter 5: B2B Marketing
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) The demand for the cows at Rockeller's dairy farm is based on the consumer demand for milk, cheese, ice cream, cream, and butter.This is an example of inelastic demand.
A)True
B)False
Q2) Marker Jimmy's Co., a large cocoa-bean processor, buys cocoa beans and converts the beans into cocoa powder and cocoa butter, which is sold to companies that manufacture consumer products containing chocolate.Marker Jimmy's Co.is operating in a(n) _____ market.
A)reseller
B)vertical
C)industrial
D)business-to-consumer
Q3) Wholesalers and retailers that buy physical products and sell them again without any reprocessing are known as industrial firms.
A)True
B)False
Q4) What is the North American Industry Classification System (NAICS)?
Q5) What are the bases on which business markets are segmented?
Q6) Identify and describe the five roles in a buying centre.
Page 7
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Chapter 6: Segmentation Targeting and Positioning
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97 Verified Questions
97 Flashcards
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Sample Questions
Q1) Which of the following purposes do positioning maps serve?
A)They help revamp the product and the various elements of the marketing mix.
B)They are used to crystallize the image for marketers so that they can design a marketing mix that aligns with the product's positioning.
C)They help researchers analyse why consumers buy a product, the product benefit, how the product is used, and weather consumers are brand loyal.
D)They help marketers reveal gaps in the market where consumers may be underserved, while also highlighting the competitive nature of the category.
Q2) Calvin the Clubber is described as a male college student who loves hip-hop music and spends weekends out late at dance clubs.This is an example of
A)Demographic segmentation
B)persona
C)Niche marketing
D)stereotyping
Q3) Briefly explain the concept of market segmentation.
Q4) What is product differentiation?
Q5) What is product positioning? What is a positioning statement?
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Page 8
Chapter 7: Products and Brands
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Items used to assist in the production of other goods and services are called _____ goods.
A)production
B)convenience
C)specialty
D)support
Q2) Which of the following is true about a manufacturer's brand?
A)It refers to a statement indicating the liability of the manufacturer for product deficiencies.
B)It refers to a brand owned and produced by the manufacturer.
C)It refers to a brand in which a company uses one name for all of its products.It is often referred to as a blanket or family branding strategy.
D)It refers to a brand in which manufacturers produce products but sell them under the brand name of a wholesaler or retailer, also called a private label.
Q3) Marketers are free from the responsibility of considering the future of the brand since it falls under the brand planner's duties.
A)True
B)False
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9
Chapter 8: New Product Development
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) Which of the following is a marketer adopting if he is targeting new markets with current products?
A)market penetration
B)product development
C)diversification
D)market development
Q2) Describe the maturity stage of a product life cycle.
Q3) Which of the following is true of a high-learning product?
A)It refers to a product with a very short product life cycle.
B)It refers to a product that experiences immediate rapid growth, followed by a rapid decline.
C)It refers to a product with an extended introductory period due to efforts required to educate customers.
D)It refers to a product that has a short introductory stage, where the benefits of purchasing are self-evident.
Q4) List the seven steps involved in the new product development process.
Q5) In the product life cycle, harvesting occurs when a product is discontinued.
A)True
B)False
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Chapter 9: Pricing
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) Uniform delivered pricing means the:
A)title of goods remains with the manufacturer until sold to the ultimate consumer.
B)pricing and title of goods passes to the buyer upon arrival at final destination.
C)title of the goods passes to the buyer at the point of shipment.
D)price the seller sets includes all transportation costs.
Q2) A new car dealer offered a substantial reduction in the list price of a new Ford pickup truck by offering the buyer a _____ of $3,000 for his 1988 Camaro.
A)cash discount
B)functional discount
C)seasonal discount
D)trade-in allowance
Q3) The older the product and the later it is in its life cycle, the higher the price that can usually be charged.
A)True
B)False
Q4) Describe a typical use of break-even analysis for marketers.
Q5) Explain why price elasticity is important to marketing managers.
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11
Chapter 10: Marketing Channels and Supply Chain
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) _____ is the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in the traditional marketplace and in the online marketspace.
A)Cross-channel shopping
B)Multichannel marketing
C)Dual-level distribution
D)Strategic channel alliance
Q2) Amazon.ca is an example of an electronic marketing channel.
A)True
B)False
Q3) Tabi's and Radio Shack provide appealing displays of their products and an environment that caters to their customers.This is an example of _____ utility.
A)possession
B)time
C)form
D)place
Q4) Explain the three major types of vertical marketing systems.
Q5) What functions do intermediaries perform?
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Chapter 11: Retailing and Wholesaling
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110 Verified Questions
110 Flashcards
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Sample Questions
Q1) Retailing includes all activities involved with providing goods to consumers and business buyers.
A)True
B)False
Q2) Truck jobbers are wholesalers who:
A)furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.
B)take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for merchandise.
C)own the merchandise they sell but do not physically handle, stock, or deliver it.
D)have a small warehouse from which they stock their trucks for distribution to retailers.
Q3) Offering several unrelated product lines in a single store is referred to as intertype competition.
A)True
B)False
Q4) How are QR codes used by in-store shoppers?
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Page 13
Chapter 12: Marketing Communications
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93 Verified Questions
93 Flashcards
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Sample Questions
Q1) Personal selling is a form of one-way communication.
A)True
B)False
Q2) Which of the following communication strategies is Latte, Inc.adopting for its new Arabica coffee?
A)push strategy
B)affiliate marketing
C)personal selling
D)pull strategy
Q3) Drobo Biscuits usually have biscuit packets with 10, 20, and 50 biscuits.In order to boost the company's sales, the company introduces biscuit packs that have 20 percent extra content.The company also mentions this in its package with great prominence.Identify the promotional tool that the company is using in this case.
A)sweepstake
B)bonus pack
C)contest
D)coupon
Q4) Explain outbound and inbound marketing.
Q5) Explain the concept of public relations.
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Chapter 13: Digital Marketing Communications
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Marketing on the various types of social media networks is inexpensive.
A)True
B)False
Q2) Promotional websites focus on converting online searchers into online buyers.
A)True
B)False
Q3) Niagara Speedway, a new go kart track wants to advertise with videos to tourists planning to visit Niagara Falls.This type of ads are called
A)Banner ads
B)Display ads
C)advergaming
D)In-stream advertising
Q4) In 2006 YouTube was purchased by Netflix.
A)True
B)False
Q5) Of the following, the most popular app in Canada is ______.
A)news
B)gaming
C)weather
D)messaging
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Chapter 14: Customer Relationship Management
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) The oldest and best known loyalty program in Canada is HBC Rewards.
A)True
B)False
Q2) When the Four Seasons Hotels and resorts improves its long-term profitability by managing customer interactions, it is indulging in customer _____.
A)experience management
B)branding
C)reward program
D)relationship management
Q3) Kretny Inc.collects information from phone centres, Internet sites, and contacts that salespeople have with their customers.These contacts are called touch points.
A)True
B)False
Q4) Buyers palace.ca, an online platform for purchasing books, frequently suggests for members a personalized list of books based on their previous purchases.This is an example of customer relationship management.
A)True
B)False
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Page 16
Chapter 15: Marketing and Strategic Planning
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104 Verified Questions
104 Flashcards
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Sample
Questions
Q1) Weredeth University voted to have one Internet connection for each student by the end of academic year 2009-2010.In 2002, there was one connection for every 35 students.In 2005, there was one connection for every 8 students.Putting a more realistic target date of an Internet connection for each student meant the goal would not be achieved until the end of 2013.The difference between the new projections and the original projections is called _____.
A)the contribution margin
B)a marginal analysis
C)the product differentiator
D)the planning gap
Q2) Obtaining resources is a key activity in the _____ phase of the strategic marketing process.
A)planning
B)controlling
C)implementation
D)strategic development
Q3) How does a company conduct a SWOT analysis?
Q4) Describe market share, customer satisfaction, employee welfare, and social responsibility as goals pursued by a business.
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