Retail Management Study Guide Questions - 1284 Verified Questions

Retail Management Study Guide Questions

Course Introduction

Retail Management explores the principles, strategies, and operations involved in the successful management of retail businesses. The course covers topics such as store layout and design, merchandise planning, inventory control, pricing strategies, customer relationship management, and retail marketing. Students will gain insights into consumer behavior, the impact of technology on retail, and current trends shaping the industry. Emphasis is placed on developing effective leadership skills, understanding the supply chain, and adapting to the challenges of both brick-and-mortar and online retail environments. Through case studies and practical assignments, students will learn how to make informed decisions and drive the performance of retail organizations.

Recommended Textbook

Consumer Behavior Buying Having and Being Global 12th Edition by Michael R. Solomon

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14 Chapters

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Chapter 1: Buying,Having,and Being: An Introduction to Consumer Behavior

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Sample Questions

Q1) A product that helps to establish the user's identity is called ________.

A) self-concept attachment

B) interdependence

C) love

D) nostalgic attachment

Answer: A

Q2) A ________ creates a state of tension that drives consumers to attempt to reduce or eliminate.

A) want

B) demand

C) need

D) response

Answer: C

Q3) Which of the following is NOT a stage of the consumption process?

A) Desire

B) Pre-purchase

C) Purchase

D) Post-purchase

Answer: A

Page 3

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Chapter 2: Consumer and Social Well-Being

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Sample Questions

Q1) Materialistic values tend to focus on the individual rather than a group or family.

A)True

B)False Answer: True

Q2) There is an increasing demand for green products.

A)True

B)False Answer: False

Q3) Which of the following people is an example of a consumed consumer?

A) Cyberbully

B) Prostitute

C) Single mother

D) Shopaholic Answer: B

Q4) Cause marketing is the same as social marketing.

A)True

B)False Answer: False

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Page 4

Chapter 3: ++Perception

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Sample Questions

Q1) The ________ for a brand guides how a company uses elements of the marketing mix to influence the consumer's interpretation of the brand's meaning in the marketplace relative to its competitors.

A) positioning strategy

B) gestalt psychology

C) sensory signature

D) priming strategy

Answer: A

Q2) As a personal selection factor,adaptation is seen as the degree to which consumers continue to notice a stimulus over time.Five factors can lead to adaptation.List and briefly describe the connection with adaptation.

Answer: The five factors are intensity (less-intense stimuli habituate because they have less impact),duration (stimuli that are long in duration tend to habituate),discrimination (simple stimuli habituate because they do not require attention to detail),exposure (frequently encountered stimuli habituate as the rate of exposure increases),and relevance (stimuli that are irrelevant or unimportant habituate because they fail to attract attention).

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Chapter 4: Learning Memory

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Sample Questions

Q1) Within a knowledge structure,which of the following is the LEAST complex knowledge unit?

A) Meaning

B) Proposition

C) Schema

D) Script

Q2) When Sophie hums a McDonald's jingle,it is an example of ________.

A) brain worm

B) incidental learning

C) behavior

D) consumer attention

Q3) Conditioning effects are more likely to occur after the conditioned and unconditioned stimuli have been paired a number of times.

A)True

B)False

Q4) The salience of a brand refers to its degree of pricing flexibility.

A)True

B)False

Q5) Explain how frequency marketing works.

Q6) What does salience of a brand refer to?

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Chapter 5: Motivation

and

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Sample Questions

Q1) There are a variety of need states or need forms described in the text.Characterize and discuss psychogenic needs,utilitarian needs,and hedonic needs.

Q2) If a consumer were to pursue products and services that seemed to alleviate loneliness,such as playing team sports,going to a bar,and/or shopping in busy malls,the consumer would be expressing a need for ________.

A) achievement

B) affiliation

C) power

D) uniqueness

Q3) Explain the term "affect."

Q4) What theory of motivation is related to the idea that customers desire a state of balance called homeostasis?

A) Instinct theory

B) Drive theory

C) Expectancy theory

D) Need theory

Q5) A degree of arousal is called a drive.

A)True

B)False

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Chapter 6: The Self: Mind, Gender, and Body

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Sample Questions

Q1) Personal objects,places,and things allow people to feel that they are rooted on their larger social environments.The home can be symbolic for the extended self.Which of the following categories or levels of the extended self would be the home most likely be associated with ________.

A) family level

B) individual level

C) community level

D) group level

Q2) Fred Johnson lives,eats,and breathes pro football.His favorite team is the Dallas Cowboys.His home looks like a Dallas Cowboy's museum.Which level of the extended self would most likely apply to Fred's situation?

A) family level

B) individual level

C) community level

D) group level

Q3) Explain and give a brief example of symbolic self-completion theory.

Q4) One of the most important levels of the extended self is the family level.

A)True

B)False

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Chapter 7: Personality, Lifestyles, and Values

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Sample Questions

Q1) Explain the Freudian system of personality as it might apply to the behavior of a consumer.

Q2) Esso (now Exxon in the United States)used the work of Ernest Dichter to influence its "Put a Tiger in Your Tank" ad campaign.Which of the following conclusions formed the rationale for the famous campaign?

A) Orange and black are two of the most powerful colors in the color spectrum.

B) The tiger supplies powerful animal symbolism and it contains vaguely sexual undertones.

C) The size of the tiger enhances a male's ego.

D) The playful nature of the tiger is appealing to female consumers.

Q3) Psychographics use lifestyle profiles to target markets.

A)True

B)False

Q4) Marketers use results from AIO surveys to ________.

A) define target markets

B) create a new view of the market

C) position a product

D) all of the above

Q5) List the various ways that psychographic segmentation can be used.

Q6) List and explain the four forms of psychographic studies.

Page 9

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Chapter 8: Attitudes and Persuasive Communication

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Sample Questions

Q1) Both the Fishbein model and the extended Fishbein model attempt to measure the influence of attitudes.What was the flaw in the original model and what was added in the extended model to correct this flaw?

Q2) ________ occurs when people appear to "forget" about the negative source and change their attitude.

A) Halo effect

B) The sleeper effect

C) Native advertising

D) Sock puppeting

Q3) Most messages merely present one or more positive attributes about a product or reasons to buy it.Which of the following best describes this approach to communicating a message?

A) Supportive arguments

B) Two-sided message

C) Refutational arguments

D) Reporting bias

Q4) Describe each component of the ABC model.

Q5) Compare and contrast the uses of the emotional appeals of sex,humor,and fear in advertising.What are the strengths and weaknesses of each?

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Chapter 9: Decision Making

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Sample Questions

Q1) Needs are created when the actual state of a customer declines.

A)True

B)False

Q2) A shortcut to making a decision is called inertia.

A)True

B)False

Q3) Cedric runs out of gas on the way to work.He thinks to himself-"How stupid I am!" Cedric has experienced a form of a problem recognition that is being dominated by a downward movement in his actual state.

A)True

B)False

Q4) Tomorrow,Janice will be attending a party with a buffet.In anticipation of splurging on delicious food,she is eating very little today.Janice is using a ________ to help her estimate consumption over time and regulate her behavior.

A) constructive process

B) mental budget

C) diet

D) cognitive process

Q5) What are determinant attributes?

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Chapter 10: Buying, Using, and Disposing

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Sample Questions

Q1) Others who are present in a consumer's physical and social environment when purchases are made are called ________.

A) co-consumers

B) by-standers

C) purchase competitors

D) challengers

Q2) Reference groups influence us in three ways.These influences include informational,utilitarian,and ________ dimensions.

A) reputational

B) descriptive

C) knowledge

D) value-expressive

Q3) The steps that consumers practice to gradually distance themselves from things they treasure so that they can sell or recycle them are called ________.

A) recycling instincts

B) tangential cycling

C) divestment rituals

D) underground reinvestments

Q4) Why are modern industrialized societies dependent upon perceptions of time?

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Chapter 11: Groups and Social Media

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Sample Questions

Q1) According to the principle of least interest,a person will gain power in a group as she decreases her commitment to the group.

A)True

B)False

Q2) Power that is granted by virtue or a social agreement,such as the authority we give to police officers,is called ________.

A) referent power

B) information power

C) legitimate power

D) expert power

Q3) The influence of others' opinions is at times more powerful than one's own perceptions.

A)True

B)False

Q4) The ________ a group is,the more likely members are to engage in social loafing.

A) more homogeneous

B) smaller

C) bigger

D) less homogenous

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Chapter 12: Income and Social Class

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Sample Questions

Q1) ________ describes consumers in terms of their aesthetic and intellectual preferences.

A) A restricted code

B) Taste culture

C) An elaborated code

D) Social culture

Q2) ________ are consumers who refuse to sacrifice style,but they achieve on a budget.

A) Fashionistas

B) Frugalistas

C) Nouveau rich

D) Cosmopolitanism

Q3) Mothers with preschool children are the fastest-growing segment of working people.

A)True

B)False

Q4) The American rich often indulge in luxury goods while pinching pennies on everyday items.

A)True

B)False

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Chapter 13: Subcultures

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Sample Questions

Q1) Green bagels and green beer on St.Patrick's Day are both examples of de-ethnicization.

A)True

B)False

Q2) Bill jokes that a nuclear family is one that is about ready to explode because having your grandmother living with you can cause a lot of disruptions.Although Bill's humor is questionable,his labeling of a family living with a grandparent as a nuclear family is correct.

A)True

B)False

Q3) Gen Y individuals are also included as ________.

A) Echo boomers

B) Millennials

C) Both A and B

D) Generation X

Q4) The actual number of years a person has been alive is their ________ age.

A) perceived

B) chronological

C) confirmed

D) cohort

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Chapter 14: Culture

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Sample Questions

Q1) Through the process of ________,objects associated with sacred events or people become sacred in their own right.

A) congregation

B) reciprocity

C) desacralization

D) contamination

Q2) Anna's best friend,Aubrey ,was getting married.Anna spent a lot of time thinking of the perfect gift and was so excited about the gift that she gave it to Aubrey before the wedding.Aubrey cried and told Anna she could never have a better friend.Reformulation best describes the gift-giving stage in this situation.

A)True

B)False

Q3) In the modern holiday ritual of Christmas,the figures of Christ and Santa can be seen as binary opposites; one promotes selflessness while the other promotes materialism.

A)True

B)False

Q4) Define the term "fashion system."

Q5) Explain the meaning of objectification and how it occurs.Provide an example.

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