Consumer Behavior Exam Bank
Course Introduction
Consumer Behavior explores the psychological, social, and cultural factors that influence individuals purchasing decisions and consumption patterns. The course examines theories and models of consumer decision-making, the roles of perception, motivation, attitudes, and learning in shaping consumer preferences, and the impact of group dynamics and social influence. Students will analyze how marketing strategies such as branding, advertising, and product positioning affect consumer choices and loyalty. Practical applications will include evaluating real-world consumer trends, segmenting target markets, and developing strategies to effectively meet customer needs in a competitive marketplace.
Recommended Textbook
Retail Management A Strategic Approach 13th Edition by Barry
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Page 2
R. Berman
Chapter 1: An Introduction to Retailing
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Sample Questions
Q1) The largest company in the world based on sales is ________.
A) ExxonMobil
B) Sears Roebuck
C) Marks & Spencer
D) Walmart
Answer: C
Q2) The channel of distribution consists of ________.
A) the movement of goods and services from manufacturer to consumer-user
B) all of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer
C) all independent intermediaries involved with the transfer of title of goods and services
D) all middlemen involved with the physical movement of goods and services
Answer: B
Q3) The strategic approach to the study of retailing stresses ________.
A) retail institutions
B) retail profits
C) legal issues
D) retail planning
Answer: D
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Chapter 2: Building and Sustaining Relationships in Retailing
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Sample Questions
Q1) Tutoring is an example of a(n)________ service.
A) repair
B) owned-goods
C) nongoods
D) rented-goods
Answer: C
Q2) An advantage to a retailer's use of its individual retailer credit card over a bank-sponsored card is ________.
A) greater flexibility in extending credit
B) lower capital requirements
C) lower interest costs
D) lower bad debt costs
Answer: A
Q3) A "smart card" is a form of a(n)________.
A) open credit plan
B) layaway plan
C) electronic payment plan
D) revolving credit plan
Answer: C
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Chapter 3: Strategic Planning in Retailing
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Sample Questions
Q1) A retailer seeking to purchase an existing retail business needs to verify the seller's statement of income.The prospective buyer should ________.
A) ask the seller for audited income tax statements on the business
B) accept the seller's "word"
C) sample sales during a representative two-week time period
D) judge sales on the basis of average industry benchmarks for usage, price, and additional services purchased
Answer: A
Q2) Which objective is the most difficult to quantify?
A) sales
B) profit
C) satisfaction of publics
D) market share
Answer: C
Q3) Situation analysis seeks to answer two general questions: What is the retailer's current status? In which direction should it be heading?
A)True
B)False
Answer: True
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Page 5
Chapter 4: Retail Institutions by Ownership
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Sample Questions
Q1) In most situations,leased departments have been used by existing retailers to
A) improve the store's overall image by emphasizing fashion
B) deepen the merchandise assortment in selected merchandise categories
C) broaden their offerings into product categories that are on the fringe of the store's major product lines
D) generate rental income from "dead" space
Q2) A unique disadvantage for independent retailers is ________.
A) a lack of competitive advantages
B) a lack of independence
C) a lack of control over strategy
D) overdependence on the owner
Q3) Product/trademark franchisees operate in a relatively autonomous manner from their suppliers.
A)True
B)False
Q4) How can an independent retailer compete against chains? Specifically address the following advantages of chains: high bargaining power,efficiency in multiple store operations,the use of computers,and access to media.
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Chapter 5: Retail Institutions by Store-Based Strategy Mix
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Sample Questions
Q1) Develop a strategy for a small independent leather goods retailer to become a destination retailer.
Q2) A departmentalized self-service food store with minimum annual sales of $2 million is a ________.
A) convenience store
B) specialty store
C) supermarket
D) food-based superstore
Q3) A small retailer can become a destination retailer offering consumers superior selection,exclusive goods and services,and superior customer service.
A)True
B)False
Q4) Categorize five major food-oriented retailers using a width and depth of assortment classification system.Explain your category choice for each retailer.
Q5) A destination retailer has a relatively small trading area.
A)True
B)False
Q6) Discuss the retail strategy mix of a membership club and a flea market.
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Chapter
Nontraditional Retailing
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Sample Questions
Q1) A typical response rate for a direct marketer is ________.
A) very low
B) moderate
C) high
D) very high
Q2) In planning an infomercial,a retailer should assume that the average viewer watches at least half of the advertisement.
A)True
B)False
Q3) Infomercials are generally broadcast ________.
A) at peak hours on broadcast television
B) continuously on broadcast television
C) continuously on cable television
D) at fringe times
Q4) Vending machine operators can expand their range of goods sold by ________.
A) increasing the number of machines in offices and factories
B) using microprocessors to record consumer preferences
C) adding dollar bill changers and debit card readers to current and new machines
D) adding voice synthesizers to existing and new machines
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Chapter 7: Identifying and Understanding Consumers
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Sample Questions
Q1) Consumers who engage in extensive cross-shopping to "get the best price" have what form of perceived risk?
A) time perceived risk
B) physical perceived risk
C) financial perceived risk
D) social perceived risk
Q2) Explain the relationship between perceived risk,information search,and type of consumer decision process (extended,limited,and routine).
Q3) Which group is not reflected in the traditional family life cycle?
A) solitary retired
B) divorced adults
C) single-person households
D) bachelors
Q4) Consumers with high levels of satisfactory experience with a given brand or store may change their behavior from extended decision making in early purchases to routine decision making in subsequent purchases.
A)True
B)False
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Chapter 8: Information Gathering and Processing in Retailing
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Sample Questions
Q1) Apply the marketing research process in retailing to the question of how an antiques shop specializing in costly Tiffany lamps can increase its sales.Utilize each stage of the process in terms of information sought,evaluation of information,and interpretation of information.
Q2) The major disadvantage of observation is that ________.
A) the sampling is not probability-based
B) attitudes cannot be studied
C) the experiment is contrived
D) the respondent knows that he or she is being measured
Q3) The potential for interviewer bias is greatest in which survey technique?
A) mail survey
B) observation
C) telephone survey
D) personal survey
Q4) Retail information systems have evolved from improving inventory control to be more involved with merchandise ordering,transferring merchandise among stores,and in surveys.
A)True
B)False
10
Q5) Develop a semantic differential scale to determine Starbuck's retail image.
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Chapter 9: Trading-Area Analysis
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Sample Questions
Q1) A store with a large fringe trading area has a small percent of outshoppers.
A)True
B)False
Q2) A department store uses a(n)________ computer site selection model.This model contains a series of equations linking variables such as traffic patterns,population size,average income,and transportation adequacy to estimated sales.
A) regression
B) analog
C) gravity
D) historical analogy
Q3) The point of indifference is a critical statistic in a gravity model.
A)True
B)False
Q4) In general,retailers prefer an area to have a diversified (as opposed to a specialized)economic base.
A)True
B)False
Q5) a.How can a retailer make its location strategy more flexible?
b.Identify the risks associated with these strategies.
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Chapter 10: Site Selection
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Sample
Questions
Q1) Prepare a checklist of lease clauses that should be considered by a retailer prior to purchasing a business.Discuss the importance of each clause.
Q2) In evaluating a location in a regional shopping center,pedestrian traffic counts should be taken on the same time of day,day of week,and location.
A)True
B)False
Q3) A retail area with balanced tenancy is a(n)________.
A) understored area for all merchandise classifications
B) overstored area for all merchandise classifications
C) saturated area for all merchandise classifications
D) saturated area for selected merchandise classifications
Q4) Which planned shopping center has a moderate assortment of both shopping and convenience-oriented goods and services?
A) community shopping center
B) regional shopping center
C) neighborhood shopping center
D) megamall
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Chapter 11: Retail Organization and Human Resource Management
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Sample Questions
Q1) The main store control form of organization is the preferred form of retail organization when the buying preferences of branch customers closely resemble those at the main store.
A)True
B)False
Q2) In comparison to chain retailers,the organization structure of an independent is most likely to be ________.
A) flat
B) tall
C) functional
D) decentralized
Q3) Which recruitment source involves the least degree of screening of potential job candidates?
A) advertisements
B) employment agencies
C) former employees
D) other channel members
Q4) Under what conditions should a retailer classify jobs using a functional classification? a product classification? a geographic classification? Explain your answers.
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Chapter 12: Operations Management: Financial Dimensions
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112 Flashcards
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Sample Questions
Q1) An example of a hidden asset to a retailer is ________.
A) a long-term relationship with a supplier
B) goodwill paid by the retailer in a recent acquisition
C) valuable depreciated real-estate
D) a valuable warehouse recently purchased at its appraised value
Q2) A participative relationship is the keystone of ________ budgeting.
A) hierarchical
B) centralized
C) bottom-up
D) top-down
Q3) The undertaking of a new retail venture precluded a retailer from other ventures due to the scarcity of resources (capital,management talent,and labor).This refers to
A) zero-based budgeting
B) top-down budgeting
C) opportunity costs
D) bottom-up budgeting
Q4) a.Differentiate between zero-based and incremental budgeting.
b.Under what conditions would you use each technique?
Q5) Discuss three important financial trends that relate to retailing.
Page 14
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Chapter 13: Operations Management: Operational Dimensions
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Sample Questions
Q1) All of the activities involved in managing the retailer's physical facilities comprise
A) merchandising
B) operations management
C) energy management
D) store maintenance
Q2) A retailer can encourage long-term employment through a policy of promoting from within the firm.
A)True
B)False
Q3) Based upon an analysis of selected retail tasks that need to be performed in a given time period,a retailer decided to rely on self-service.This illustrates the effective use of a(n)________.
A) workload forecast
B) operations blueprint
C) job standardization analysis
D) cross-training analysis
Q4) Develop an operations blueprint for a car wash specializing in a one-hour "while-you-wait" inexpensive detailing of vehicles.
Page 15
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Chapter 14: Developing Merchandise Plans
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Sample Questions
Q1) Most goods and services are at what stage of the traditional product life cycle?
A) introduction
B) growth
C) decline
D) maturity
Q2) A major characteristic of micromerchandising is the ________.
A) lower costs through quantity discounts
B) use of rationalized retailing
C) appeal to local tastes
D) use of the top-down approach to space management
Q3) A retailer should require that an inventory of goods on hand be updated daily for goods that are on its ________.
A) never-out list
B) model stock plan
C) basic stock list
D) extended merchandise assortment plan
Q4) Distinguish among scrambled merchandising,complementary goods and services,and substitute goods and services.
Q5) Develop a merchandising plan for fad merchandise.
Q6) What are the advantages and disadvantages of micromerchandising programs?
Page 16
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Chapter 15: Implementing Merchandise Plans
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Sample Questions
Q1) Logistics is a narrower concept than inventory management.
A)True
B)False
Q2) In order for quick response (QR)inventory planning to be effective,________.
A) inventory ordering costs need to be low
B) inventory holding costs need to be low
C) electronic data interchange must not be functioning
D) shipping costs must be reduced
Q3) A comprehensive store security program needs to concentrate on losses due to employee,customer,and vendor theft.
A)True
B)False
Q4) Develop a 10-item store security checklist aimed at reducing customer theft.
Q5) Ideally,quick response (QR)inventory planning should be used in conjunction with electronic data interchange (EDI)and floor-ready merchandise.
A)True
B)False
Q6) Develop a 10-item store security checklist aimed at reducing employee theft.
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Chapter 16: Financial Merchandise Management
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Sample Questions
Q1) Open-to-buy is the difference between planned purchases and purchase commitments already made by a buyer for that month.
A)True
B)False
Q2) The time span from the date an order is placed by a retailer to the date merchandise is ready for sale is known as the ________.
A) reorder point
B) order lead time
C) usage rate
D) safety stock
Q3) The economic order quantity formula seeks to balance inventory ordering and inventory-holding costs.
A)True
B)False
Q4) The cost of goods sold equals ________.
A) sales less merchandise available for sale
B) beginning inventory plus purchases plus transportation charges
C) the cost of merchandise available for sale minus ending inventory
D) beginning inventory less ending inventory
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Chapter 17: Pricing in Retailing
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Sample Questions
Q1) According to traditional economic pricing theory,price elasticity tends to be a negative number.
A)True
B)False
Q2) Which strategy does not enable a retailer to control retail prices?
A) stocking private brands
B) selling gray market goods
C) selling pre-sold manufacturer brands
D) centralizing purchases with few manufacturers
Q3) Horizontal price fixing involves an agreement ________.
A) to charge retail firms lower prices in areas with an undesirable competitor
B) by any channel member not to sell merchandise below cost
C) among manufacturers, among wholesalers, or among retailers to set prices
D) by retailers to charge the price level suggested by manufacturers or wholesalers
Q4) In flexible pricing,a retailer allows buyers to negotiate.
A)True
B)False
Q5) What is the role of demand-,cost-,and competition-oriented pricing in developing and implementing a price strategy?
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Chapter 18: Establishing and Maintaining a Retail Image
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Sample Questions
Q1) a.Distinguish between retail image and atmosphere.
b.Explain how retail image is generated for a direct marketer.
Q2) Cross-selling opportunities are increased through the use of which product grouping?
A) storability
B) market segment
C) purchase motivation
D) functional
Q3) A kitchen renovation retailer assembles packages of plumbing fixtures,tiles,and window types that go together to create a given look.The packages are priced on a combined level that includes labor and materials.This illustrates ________.
A) solutions selling
B) co-branding
C) an enhanced shopping experience
D) impulse buying
Q4) Sales productivity is generally computed on the basis of sales per square foot of merchandise space.
A)True
B)False
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Chapter 19: Promotional Strategy
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Sample Questions
Q1) A difficulty associated with the use of national magazines by an independent retailer with a narrow trading area is ________.
A) high waste in geographic coverage
B) low control over timing and placement of advertisements
C) long lead time
D) absence of discounts based on the number of insertions
Q2) A(n)________ ad should be used to communicate a new retailer opening in a market area.
A) pioneer
B) reminder
C) competitive
D) institutional
Q3) Advertising,public relations,personal selling,and sales promotion are the four elements of retail promotion.
A)True
B)False
Q4) What are the benefits to each channel member in using a vertical cooperative advertising agreement? ...a horizontal cooperative advertising agreement?
Q5) How can a retailer determine the effectiveness of its public relations program?
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Chapter 20: Integrating and Controlling the Retail Strategy
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Sample Questions
Q1) A traditional department store with a small catalog division has decided to set performance standards for its telephone-based order takers based on intensively studying the operations of L.L.Bean and Lands' End.This strategy is an example of
A) scenario analysis
B) gap analysis
C) benchmarking
D) variance analysis
Q2) A retail audit should be implemented at least once in three years.
A)True
B)False
Q3) An investigation of a retailer's total retailing effort or some aspect of it is a
A) retail audit
B) situation analysis
C) retail strategic plan
D) retail information system
Q4) A horizontal audit is often referred to as a "retail strategy" audit.
A)True
B)False
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