Question 1

Costco's surprise offerings of seconds,overstocks,and closeouts-occasionally including diamonds-is an example of how a retailer can differentiate itself through its ________.

Accepted Answer

A)  merchandise mix
B)  services mix
C)  destination retailing
D)  store atmosphere
E)  level of serviceF) A) and B)
G) A) and C)

Question 2

Give an example of how global retailers have adjusted their offerings to meet the needs of different populations around the world.

Accepted Answer

Answers will vary but may incl...

Question 3

Compare and contrast specialty stores and convenience stores.

Accepted Answer

Specialty stores carry narrow product li...

Question 4

Which of the following is NOT an element involved in the creation of store atmospherics?

Accepted Answer

A)  color
B)  furnishings
C)  smells
D)  sounds
E)  knowledgeable personnelF) B) and C)
G) B) and E)

Question 5

Which of the following stores is most likely to have a narrow assortment of merchandise?

Accepted Answer

A)  a supermarket
B)  a factory outlet store
C)  a department store
D)  a warehouse club
E)  a hypermarketF) C) and E)
G) A) and C)

Question 6

Which of the following statements about the use of color in retail stores is true?

Accepted Answer

A)  Blue and green are warm colors.
B)  Bright colors make shoppers feel more relaxed.
C)  Reds and yellows convey an atmosphere of elegance and cleanliness.
D)  Orange is used to stimulate hunger.
E)  Light colors convey excitement.F) All of the above
G) A) and E)

Question 7

A large retail store that wants to offer a broader variety of products or services on site than it would otherwise carry would most likely make an arrangement with a(n) ________.

Accepted Answer

A)  leased department
B)  convenience store
C)  variety store
D)  factory outlet
E)  off-price retailerF) B) and E)
G) B) and C)

Question 8

Explain the limitations for marketers offering e-commerce shopping.

Accepted Answer

Limitations for marketers engaging in e-...

Question 9

According to the ________ hypothesis,new retailing forms often begin as low-margin,low-price,low-status operations to challenge established retailers,then become successful,and eventually take the place of the established retailers they had challenged.

Accepted Answer

A)  agent
B)  broker
C)  wheel-of-retailing
D)  warehousing
E)  retail life cycleF) C) and D)
G) A) and C)

Question 10

Laclede's Landing in downtown St.Louis,Missouri,has been turned into a vibrant development with small shops and restaurants.It has done a lot to reverse the fortunes of the aging area near the river,including helping to increase foot traffic enough to support entertainment areas and the opening of additional stores.This is an example of which of the following?

Accepted Answer

A)  a lifestyle center
B)  a festival marketplace
C)  a central trade area
D)  an overstored trade area
E)  an understored trade areaF) C) and E)
G) D) and E)

Question 11

In terms of the basic types of retail locations,the traditional downtown business area found in most towns and cities is referred to as a ________.

Accepted Answer

A)  saturated trade area
B)  understored trade area
C)  lifestyle center
D)  shopping center
E)  central business districtF) B) and D)
G) All of the above

Question 12

Which of the following types of retailers obtain surplus merchandise from manufacturers and offer brand-name,fashion-oriented goods at low prices?

Accepted Answer

A)  specialty stores
B)  warehouse clubs
C)  off-price retailers
D)  department stores
E)  hypermarketsF) B) and D)
G) A) and C)

Question 13

Describe the benefits of e-commerce for a consumer.

Accepted Answer

Consumers who purchase items utilizing e...

Question 14

A(n) ________ trade area is a site where a sufficient number of stores already exist and the retailer believes it can compete successfully by going head-to-head with the competition.

Accepted Answer

A)  overstored
B)  secondary
C)  primary
D)  saturated
E)  understoredF) C) and D)
G) A) and E)

Question 15

Compare and contrast the four types of discount stores.

Accepted Answer

General merchandise discount stores offe...

Question 16

A store using an everyday low-pricing (EDLP) strategy does which of the following?

Accepted Answer

A)  relies on its pricing strategy to create its competitive advantage and engages in a price war if necessary to maintain the advantage
B)  has weekly sales
C)  sets prices between the list price the manufacturer suggests and the deeply discounted price stores that compete on price alone offer
D)  positions itself as an anchor store in a shopping center
E)  eliminates customer service in order to maintain low pricesF) A) and D)
G) D) and E)

Question 17

Explain the concept of nonstore retailing,giving one example of a well-known product that has been marketed this way.

Accepted Answer

Nonstore retailing is any meth...

Question 18

Stop-N-Go and Circle K,small stores that traditionally have had a market of consumers who are willing to pay a higher price for the ease of buying staples close to home,are ________.

Accepted Answer

A)  specialty stores
B)  convenience stores
C)  supermarkets
D)  hypermarkets
E)  off-price retailersF) A) and E)
G) D) and E)

Question 19

Why do stores locate in saturated trade areas?

Accepted Answer

A)  to decrease competition
B)  to access high customer traffic
C)  to take advantage of tax breaks
D)  to create retailer cooperatives
E)  to standardize the service mixF) C) and D)
G) B) and E)

Question 20

A master distributor is most likely to work in which of the following?

Accepted Answer

A)  a box store
B)  a B2B e-commerce site
C)  a party plan system
D)  network marketing
E)  an experiential storeF) All of the above
G) A) and B)

Exam 16: Retailing: Bricks and Clicks

Correct Answer
verified

Give an example of how global retailers have adjusted their offerings to meet the needs of different populations around the world.

Correct Answer
verified
Answers will vary but may incl...
View Answer

According to the ________ hypothesis,new retailing forms often begin as low-margin,low-price,low-status operations to challenge established retailers,then become successful,and eventually take the place of the established retailers they had challenged.

Correct Answer
verified

A large retail store that wants to offer a broader variety of products or services on site than it would otherwise carry would most likely make an arrangement with a(n) ________.

Correct Answer
verified

Why do stores locate in saturated trade areas?

Correct Answer
verified

Which of the following types of retailers obtain surplus merchandise from manufacturers and offer brand-name,fashion-oriented goods at low prices?

Correct Answer
verified

Explain the concept of nonstore retailing,giving one example of a well-known product that has been marketed this way.

Correct Answer
verified
Nonstore retailing is any meth...
View Answer

Describe the benefits of e-commerce for a consumer.

Correct Answer
verified
Consumers who purchase items utilizing e...
View Answer

A(n) ________ trade area is a site where a sufficient number of stores already exist and the retailer believes it can compete successfully by going head-to-head with the competition.

Correct Answer
verified

Costco's surprise offerings of seconds,overstocks,and closeouts-occasionally including diamonds-is an example of how a retailer can differentiate itself through its ________.

Correct Answer
verified

A master distributor is most likely to work in which of the following?

Correct Answer
verified

Compare and contrast the four types of discount stores.

Correct Answer
verified
General merchandise discount stores offe...
View Answer

A store using an everyday low-pricing (EDLP) strategy does which of the following?

Correct Answer
verified

Which of the following statements about the use of color in retail stores is true?

Correct Answer
verified

Compare and contrast specialty stores and convenience stores.

Correct Answer
verified
Specialty stores carry narrow product li...
View Answer

Explain the limitations for marketers offering e-commerce shopping.

Correct Answer
verified
Limitations for marketers engaging in e-...
View Answer

In terms of the basic types of retail locations,the traditional downtown business area found in most towns and cities is referred to as a ________.

Correct Answer
verified

Which of the following is NOT an element involved in the creation of store atmospherics?

Correct Answer
verified

Stop-N-Go and Circle K,small stores that traditionally have had a market of consumers who are willing to pay a higher price for the ease of buying staples close to home,are ________.

Correct Answer
verified

Which of the following stores is most likely to have a narrow assortment of merchandise?

Correct Answer
verified

Exam 16: Retailing: Bricks and Clicks

Correct AnswerverifiedShow Answer

Give an example of how global retailers have adjusted their offerings to meet the needs of different populations around the world.

Correct AnswerverifiedAnswers will vary but may incl...View AnswerShow Answer

According to the ________ hypothesis,new retailing forms often begin as low-margin,low-price,low-status operations to challenge established retailers,then become successful,and eventually take the place of the established retailers they had challenged.

Correct AnswerverifiedShow Answer

A large retail store that wants to offer a broader variety of products or services on site than it would otherwise carry would most likely make an arrangement with a(n) ________.

Correct AnswerverifiedShow Answer

Why do stores locate in saturated trade areas?

Correct AnswerverifiedShow Answer

Which of the following types of retailers obtain surplus merchandise from manufacturers and offer brand-name,fashion-oriented goods at low prices?

Correct AnswerverifiedShow Answer

Explain the concept of nonstore retailing,giving one example of a well-known product that has been marketed this way.

Correct AnswerverifiedNonstore retailing is any meth...View AnswerShow Answer

Describe the benefits of e-commerce for a consumer.

Correct AnswerverifiedConsumers who purchase items utilizing e...View AnswerShow Answer

A(n) ________ trade area is a site where a sufficient number of stores already exist and the retailer believes it can compete successfully by going head-to-head with the competition.

Correct AnswerverifiedShow Answer

Costco's surprise offerings of seconds,overstocks,and closeouts-occasionally including diamonds-is an example of how a retailer can differentiate itself through its ________.

Correct AnswerverifiedShow Answer

A master distributor is most likely to work in which of the following?

Correct AnswerverifiedShow Answer

Compare and contrast the four types of discount stores.

Correct AnswerverifiedGeneral merchandise discount stores offe...View AnswerShow Answer

A store using an everyday low-pricing (EDLP) strategy does which of the following?

Correct AnswerverifiedShow Answer

Which of the following statements about the use of color in retail stores is true?

Correct AnswerverifiedShow Answer

Compare and contrast specialty stores and convenience stores.

Correct AnswerverifiedSpecialty stores carry narrow product li...View AnswerShow Answer

Explain the limitations for marketers offering e-commerce shopping.

Correct AnswerverifiedLimitations for marketers engaging in e-...View AnswerShow Answer

In terms of the basic types of retail locations,the traditional downtown business area found in most towns and cities is referred to as a ________.

Correct AnswerverifiedShow Answer

Which of the following is NOT an element involved in the creation of store atmospherics?

Correct AnswerverifiedShow Answer

Stop-N-Go and Circle K,small stores that traditionally have had a market of consumers who are willing to pay a higher price for the ease of buying staples close to home,are ________.

Correct AnswerverifiedShow Answer

Which of the following stores is most likely to have a narrow assortment of merchandise?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
Answers will vary but may incl...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Nonstore retailing is any meth...
View Answer

Correct Answer
verified
Consumers who purchase items utilizing e...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
General merchandise discount stores offe...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Specialty stores carry narrow product li...
View Answer

Correct Answer
verified
Limitations for marketers engaging in e-...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified