Retail Marketing Question Bank
Course Introduction
Retail Marketing examines the strategies and practices used by retailers to attract and retain customers in a dynamic and competitive marketplace. The course explores key concepts such as store location, merchandise management, pricing strategies, retail communication, and customer service. Students learn how retailers analyze consumer behavior, use technology to enhance the shopping experience, and develop integrated marketing campaigns. The curriculum also covers emerging trends such as omnichannel retailing, e-commerce, and the impact of digital transformation on the retail landscape, preparing students for the challenges and opportunities in modern retail marketing.
Recommended Textbook
Retailing Management 9th Edition by Michael Levy
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18 Chapters
1647 Verified Questions
1647 Flashcards
Source URL: https://quizplus.com/study-set/2772
Page 2
Chapter 1: Introduction to the World of Retailing
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87 Verified Questions
87 Flashcards
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Sample Questions
Q1) The retail sector plays a key role in developed economies.
A)True
B)False
Answer: True
Q2) Retailers use customer transaction data to:
A) identify their best customers.
B) match the needs of a store's local market.
C) create customized promotions.
D) tailor product assortments.
E) all of these.
Answer: E
Q3) Why is it imperative that manufacturers like HP and Procter and Gamble understand the operations of retailers?
A) To sell directly on-line
B) To encourage retailers to offer and promote their products
C) To develop strategies for selling without retailers
D) Retailers can expect fewer buyouts to occur
E) To have a wide assortment of products for customers to choose from
Answer: B
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Page 3
Chapter 2: Types of Retailers
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83 Flashcards
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Sample Questions
Q1) Which of the following statements about full-line discount stores is true?
A) They carry only private-label merchandise.
B) They have a narrow breadth of merchandise.
C) They typically carry more brands and sizes in each category than department stores.
D) They have inconsistent assortments.
E) They confront intense competition from category specialists.
Answer: E
Q2) Services are difficult to be evaluated before customers buy or even after they buy and consume them.Which of the following characteristics of service causes this challenge for service retailers?
A) Intangibility
B) Perishability
C) Inconsistency
D) Consumability
E) Compatibility
Answer: A
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Chapter 3: Multichannel Retailing
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64 Verified Questions
64 Flashcards
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Sample Questions
Q1) _____ involves selling the same products at the same prices through the same distribution system for all channels.
A) Channel migration
B) Showrooming
C) Automated retailing
D) Complete integration
E) Personalization
Answer: D
Q2) Catherine wanted to purchase a digital camera.Hence,she visited an online retailer's website to learn more about the different features and capabilities of the device.Catherine went to a supermarket to make other purchases.She sees the camera there and purchases it.Which of the following terms describes Catherine's actions?
A) Channel migration
B) Channel expansion
C) E-tailing
D) Phishing
E) Automated retailing
Answer: A
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Chapter 4: Customer Buying Behavior
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123 Verified Questions
123 Flashcards
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Sample Questions
Q1) What are the three types of consumer decision-making processes?
Q2) Diego began his first job out of college with a consulting firm.He wanted to make a good impression on his superiors.He noticed the attire of the associates when he attended the interview and decided to dress in a similar manner.Which social factor has influenced Diego's dressing style?
A) Culture
B) Reference group
C) Consideration set
D) Peer group
E) Subculture
Q3) In order to get into a customer's consideration set,a retailer should:
A) develop programs to ensure that customers remember them.
B) limit the options for return and money-back guarantees.
C) encourage cross-shopping.
D) limit the information provided to customers on its website.
E) target their offerings toward satisfying hedonic needs.
Q4) Retailers need to provide adequate information and an effortless shopping experience for hedonic shoppers.
A)True
B)False
Page 6
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Chapter 5: Retail Market Strategy
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124 Verified Questions
124 Flashcards
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Sample Questions
Q1) An unrelated diversification growth opportunity:
A) has a lot in common between the retailer's present business and the new growth opportunity.
B) is less risky compared to a related growth opportunity.
C) is less effective compared to a related growth opportunity.
D) is less expensive compared to related growth opportunity.
E) has little commonality between the retailer's present business and the new growth opportunity.
Q2) The emerging international markets that receive the most attention from global retailers are collectively referred to as the _____ countries.
A) Asian Tigers
B) Next Eleven
C) MIKT
D) CIVETS
E) BRIC
Q3) Market expansion approaches include opening more stores in the target market and/or keeping existing stores open for longer hours.
A)True
B)False
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Page 7
Chapter 6: Financial Strategy
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96 Verified Questions
96 Flashcards
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Sample Questions
Q1) The strategic profit model decomposes ROA into two components:
A) operating profit margin percentage and asset turnover.
B) net sales and average organizational turnover.
C) gross sales and average employee productivity.
D) total number of employees and total sales volume.
E) average number of employees and average productivity.
Q2) The formula for calculating inventory turnover is: Inventory turnover = Cost of goods/Total inventory.
A)True
B)False
Q3) The debt-to-equity ratio is the retailer's short- and long-term debt divided by the value of the owners' or stockholders' equity in the firm.
A)True
B)False
Q4) Inventory turnover:
A) is calculated by dividing accounts receivable by net sales
B) equals total assets minus current assets divided by average inventory
C) is calculated by dividing cost of goods by average inventory
D) equals net sales minus cost of goods sold divided by average turnover
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Chapter 7: Retail Locations
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85 Verified Questions
85 Flashcards
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Sample
Questions
Q1) What type of shopping center is composed of upscale apparel shops,boutiques,and gift shops carrying selected fashions or unique merchandise of high quality and price?
A) Downtown business areas
B) Power centers
C) Shopping strips
D) Marketing complexes
E) Shopping malls
Q2) Urban sprawl is the increased expansion of residential and shopping center development in suburban and rural areas outside of their respective urban centers.
A)True
B)False
Q3) Which of the following is an advantage of freestanding locations?
A) Unlimited trade area
B) High pedestrian traffic
C) Light pedestrian traffic
D) Less expensive compared to shopping centers
E) High vehicular traffic
Q4) Mention three advantages that shopping malls have over alternative locations.
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Chapter 8: Retail Site Location
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Which of the following statements is not true of geographic information systems?
A) It is used by retailers to find locations that maximize their sales and profits.
B) Its use develops a deeper understanding of the trade areas.
C) It combines demographic data,consumer spending patterns,and lifestyles in a geographic area.
D) It is based only on demographic census data.
E) Examples of GIS suppliers include ESRI,Claritas,and Pitney Bowes.
Q2) What is the advantage of having your adjacent tenant as a complementary retailer?
A) Shared parking expense
B) Better lease negotiations
C) Visibility
D) Less tenant restrictions
E) Builds customer traffic
Q3) A metropolitan statistical area (MSA)is a core urban area containing a population of more than 50,000 inhabitants.
A)True
B)False
Q4) Mention the factors affecting the size of the trade area.
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Chapter 9: Human Resource Management
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Sample Questions
Q1) What does centralization mean for retailers?
A) All buying decisions are made regionally to best satisfy the customer.
B) The authority for decisions is delegated to corporate managers.
C) The location of corporate headquarters is located in the central part of the country.
D) The authority for decisions is made at the nearest central office.
E) Centralization decreases efficiency.
Q2) Which of the following operations can provide an opportunity to have the best people make decisions for an entire corporation?
A) CES - Central Efficiency Standards
B) Management information systems
C) Centralization
D) Decentralization
E) Central systems operations
Q3) The merchandise management task of a retail firm includes buying merchandise,controlling inventory,and pricing merchandise.
A)True
B)False
Q4) List the five HR management activities that build employee engagement.
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Chapter 10: Information Systems and Supply Chain Management
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87 Verified Questions
87 Flashcards
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Sample Questions
Q1) _____ is a strategy used by fashion apparel retailers that offers customers inexpensive fashionable merchandise early in the fashion life cycle.
A) Fast fashion
B) Consumer direct fulfillment
C) Quick response
D) Just-in-time delivery
E) Lightening logistics
Q2) Explain how managing an efficient supply chain and information system can improve the company's return on assets.
Q3) Which of the following does not cause the bullwhip effect in an uncoordinated supply chain?
A) Delays in transmitting orders
B) Overreacting to shortages
C) Ordering in batches
D) Delays in receiving merchandise
E) Information sharing
Q4) Identify what is "floor-ready" merchandise and describe the tasks that are completed at the distribution center to prepare merchandise to be "floor ready".
Page 12
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Chapter 11: Customer Relationship Management
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85 Verified Questions
85 Flashcards
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Sample Questions
Q1) The Bird of Paradise is one of the world's most attractive tropical flowers.When Josiah,who owns Joe's Flower Shop,knows he's receiving flowers from Hawaii,he emails all his customers whom he knows will like the flower and informs them of the expected shipment.Josiah's program is an example of:
A) a frequent shopper program.
B) a loyalty program.
C) gaining competitive advantage.
D) add-on selling.
E) 1-to-1 retailing.
Q2) Although,having information about individual customers helps retailers provide better services to consumers,consumers are concerned about _____.
A) price promotions
B) loyalty
C) descriptive information
D) privacy
E) data mining
Q3) What is a customer lifetime value (CLV),and how is it estimated?
Q4) How can retailers enhance customer loyalty?
Q5) Describe approaches that retailers use in dealing with unprofitable customers.
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Chapter 12: Managing the Merchandise Planning Process
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92 Flashcards
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Sample Questions
Q1) Retailers often find the 80-20 principle evident within the ABC analysis.What does the 80-20 principle imply?
A) About 20 percent of a retailer's sales promotion sells 80 percent of its inventory.
B) Approximately 20 percent of a retailer's sales come from 80 percent of its products.
C) Approximately 80 percent of a retailer's inventory was sold,and 20 percent was wasted.
D) 80 percent of the retailer's customers are repeat customers and only 20 percent are new.
E) Approximately 80 percent of a retailer's sales come from 20 percent of its products.
Q2) Buyers,divisional merchandise managers,and general merchandise managers are some of those who undertake the responsibilities of merchandise management.
A)True
B)False
Q3) What are the factors that determine the level of required backup stock?
Q4) Explain briefly the ABC analysis method for analyzing merchandise management performance.
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14
Chapter 13: Buying Merchandise
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84 Flashcards
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Sample Questions
Q1) Yves,an English speaking Frenchman,meets with buyers from the United States when they visit Paris.Once in Paris,the buyers rely on Yves to make appointments with French vendors to save time and penetrate the market.Yves works to help interpret and negotiate during the buyer-vendor meetings.Therefore,Yves works for a(n)_____.
A) black market
B) resident buying office
C) reverse auction office
D) cohort exchange office
E) stock market
Q2) Which of the following is true of store brands?
A) Store brands are limited in variety when compared to national brands.
B) These products are sold to competing retailers.
C) They are labeled only with the commodity name and have no distinguishing brand names.
D) Retailers develop the design for these products in most cases.
E) National brand vendors are not involved in the development of these products.
Q3) What is counterfeit merchandise? How can it negatively impact the market,and what are the ethical aspects?
Q4) What are some of the costs associated with sourcing merchandise globally?
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Chapter 14: Retail Pricing
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98 Verified Questions
98 Flashcards
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Sample Questions
Q1) Describe the difference between initial markup and maintained markup.
Q2) Which of the following factors influences reductions?
A) The cost of alterations
B) The amount subtracted from the gross margin
C) Theft and accounting errors
D) Tax write-off for corporate volunteer hours
E) Format of saving for low profit quarters
Q3) _____ is the concept of offering customers localized promotions of retailers in close proximity of their mobile phones.
A) Geofencing
B) Geotagging
C) Geocaching
D) Price lining
E) Leader pricing
Q4) What are the ways markdown merchandise can be consolidated?
Q5) Second-degree price discrimination occurs when retailers charge customers as much as they are willing to pay.
A)True
B)False
Q6) What are the limits of the rule-based approach of taking markdowns?
Page 16
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Chapter 15: Retail Communication Mix
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86 Verified Questions
86 Flashcards
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Sample Questions
Q1) The famous designer,Isaac Mizrahi,made a scheduled appearance at Borders bookstore in Mall of America to sign copies of his book "How to Have Style".This is an example of what type of communication method?
A) Special event
B) Samples
C) Rebates
D) Coupons
E) Premiums
Q2) Which of the following is the formula to determine the return on investment for an advertisement?
A) (Net sales + Advertising cost)/Advertising cost
B) (Net sales - Advertising cost)/Advertising cost
C) Advertising cost/(Net sales + Advertising cost)
D) Advertising cost/(Net sales - Advertising cost)
E) (Advertising cost - Net sales)/Advertising cost
Q3) What can a retailer do to build the brand equity of its firm or private-label merchandise?
Q4) What are the disadvantages associated with using the percentage-of-sales method for establishing a retail communication budget?
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Chapter 16: Managing the Store
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Sample Questions
Q1) What are the approaches a retailer can consider when working to reduce employee theft?
Q2) _____ is the process by which a person attempts to influence others to accomplish a common goal or task.
A) Idiosyncrasy credit
B) Multipolarity
C) Leadership
D) Post hegemony
E) Tripolarity
Q3) The _____ allows employees to sue employers that violate employment laws.
A) Equal Employment Opportunity Commission
B) United States Chamber of Commerce
C) Center for Capital Markets Competitiveness
D) Institute for a Competitive Workforce
E) National Chamber Foundation
Q4) Describe EEOC's guidelines on sexual harassment.
Q5) The most effective approach for reducing employee theft and shoplifting is to create a trusting,supportive work environment.
A)True
B)False
Page 18
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Chapter 17: Store Layout, Design, and Visual Merchandising
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) Why are demand and promotional merchandise placed in the back left-hand corner of the store?
Q2) When Raisa walked into the local convenience store,she saw it had parallel aisles with shelves on either side.Immediately,she knew the retailer had used a _____ as a design for its store.
A) racetrack layout
B) grid layout
C) loop
D) free-form layout
E) boutique layout
Q3) Which of the following is NOT an element considered in the design of a store?
A) Layout
B) Signage
C) Graphics
D) Attention getting feature areas
E) Recruitment
Q4) What are the objectives that must be met when managers are designing or redesigning a store?
Q5) Explain the concept of vertical merchandising.
Q6) What are the advantages and disadvantages of a grid layout?
Page 19
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Chapter 18: Customer Service
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Sample Questions
Q1) Kevin is a salesperson selling electronic goods.A customer complains about problems in the music player purchased by him the previous week.He requests for a replacement.Kevin explains the store's exchange policies and asks the customer to fill out a complaint form.Therefore,Kevin is dealing with the customer's problems with
A) service equity
B) consistent fairness
C) perceptual equity
D) distributive fairness
E) procedural fairness
Q2) An electronic retailer surveys its customers to understand the factors that they consider before making a purchase decision.The retailer is trying to bridge the _____ by using customer research.
A) delivery gap
B) standards gap
C) performance gap
D) knowledge gap
E) communication gap
Q3) Why is it important to empower employees for quick resolution of customer problems?
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