E-Commerce and Retailing
Mock Exam
Course Introduction
This course explores the fundamentals and advanced concepts of e-commerce and retailing in the modern digital marketplace. Students will examine the strategies, technologies, and business models underlying successful online retail operations, as well as the integration of traditional retail with digital channels. Topics include website design and usability, electronic payment systems, supply chain management, digital marketing, customer relationship management, and legal and ethical issues in e-commerce. Through case studies and practical assignments, learners will develop skills to analyze trends, identify opportunities, and implement effective solutions within the rapidly evolving e-commerce and retail landscape.
Recommended Textbook Retailing Management 4th Canadian Edition by Michael Levy
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15 Chapters
1641 Verified Questions
1641 Flashcards
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Chapter 1: Introduction to the World of Retailing
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) When is the intensity of competition between retail stores the greatest?
Answer: When they are involved in intratype competition that is close to each other with similar retail offerings,such as in a shopping mall.
Q2) List the four functions performed by retailers.
Answer: The four functions performed by retailers are (1)providing an assortment of products and services,(2)breaking bulk,(3)holding inventory,and (4)providing service and services.
Q3) Why do retailers use point-of-sale (POS)terminals to read Universal Product Codes (UPCs)and electronic data interchange (EDI)to send sales and inventory information from computer to computer?
Answer: These technologies allow retailers to have a better idea of what is selling and a way to quickly communicate that information to vendors so that replenishment can quickly occur.Additionally it gives the retailer a competitive advantage over retailers that do not work with current supply chain management systems.
Q4) The philosophy,strategies,programs,and systems that focus on identifying and building loyalty with a retailer's most-valued customers are called ____________.
Answer: customer relationship management
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3
Chapter 2: Types of Retailers
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104 Flashcards
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Sample Questions
Q1) _________ refers to the number of different items in a merchandise category.
Answer: Assortment/Depth of merchandise
Q2) Isaac's Men's Store stocks 322 different styles and colours of ties.This assortment of ties can be referred to as Isaac's:
A) store's supply standard
B) complete retail offering
C) breadth of merchandise
D) retailer mix
E) depth of merchandise
Answer: E
Q3) Which of the following statements about warehouse clubs is true?
A) Warehouse clubs only sell to ultimate consumers.
B) Warehouse clubs have a category specialist format.
C) Warehouse clubs typically have high inventory holding costs.
D) Warehouse clubs have simple interiors and concrete floors.
E) Warehouse clubs have extensive merchandise depth.
Answer: D
Q4) What do Weight Watchers,Merrill Lynch,Federal Express,and U-Haul have in common?
Answer: They are all examples of services retailers.
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Chapter 4: Retail Market Strategy
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) How can a small town quilting supply store compete against Walmart and still thrive?
A) The shop can extend its hours
B) The store can lower prices
C) The store can hire part time employees
D) The shop can offer classes on quilting.
E) all of these
Q2) The objectives a retailer establishes after evaluating its strategic investment opportunities should:
A) identify the performance sought
B) include a time frame in which the goal is to be achieved
C) include the level of investment needed for the goal to be achieved
D) include a numerical index against which progress can be measured
E) have all of these
Q3) The _____________________ is the set of steps a retailer goes through to determine its target market,to locate the appropriate retail format for itself,and to build its sustainable competitive advantage.
Q4) What are McDonald's competitive advantages and how has it developed such a huge loyalty from its customers?
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Chapter 5: Retail Locations Strategytrade Area Decisions and
Site Assessment
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160 Verified Questions
160 Flashcards
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Sample Questions
Q1) Which of the following is an issue that affects the site decision?
A) Environmental issues
B) Zoning
C) Condition of building
D) Signs
E) All of these
Q2) Category specialists consumers will go to even if it is inconvenient are called
A) malls
B) dealers
C) unique merchandisers
D) destination stores
E) outlet centres
Q3) What are the two main configurations of shopping centres?
Q4) Which of the following factors was NOT identified by the text as defining a trade area?
A) Type of shopping area
B) Natural and physical barriers
C) Climate
D) Accessibility
E) Competition
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Chapter 6: Store Design, layout, and Visual Merchandising Strategy
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) What is the advantage of the free-form layout to the consumer?
A) The layout guides the customer through the store
B) Customers are encouraged to explore the store with this type of layout
C) Customers feel like they are in a relaxed environment and are more likely to buy
D) This type of layout is designed to get the customer's attention
E) Customers can purchase merchandise in this type of layout
Q2) What is an impulse product?
Q3) The store design that provides a major aisle to facilitate customer traffic with access to the store's multiple entrances is called the _____________ layout.
Q4) To determine the productivity of store space,retailers are most likely to use:
A) sales per square metre/foot
B) sales per department
C) inventory turnover
D) retained earnings
E) asset turnover
Q5) A fixture that is used extensively,but not exclusively,in grocery and discount stores to display anything from canned food to baseball gloves is called a(n)_____________.
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Chapter 7: International Retailing Strategy
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43 Verified Questions
43 Flashcards
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Sample Questions
Q1) _____________________ is the world's largest retailer.
Q2) What is a globally sustainable competitive advantage?
Q3) Which of the following is a valid example of costs associated with global sourcing decisions?
A) To reduce the effects of currency fluctuations retailers avoid the use of finan?cial instruments such as options and futures contracts.
B) For American retailers in the U.S.A., inventory turnover is likely to be higher when purchasing from suppliers outside the United States than from domestic suppliers.
C) The legal-political system in foreign countries should never impact the human resource management practices that retailers can use in those countries.
D) If, for example, the Indian rupee increases relative to the Canadian dollar, the cost of private-label merchan?dise produced in India and imported for sale into Canada will decrease.
E) If, for example, the Indian rupee decreases relative to the Canadian dollar, the cost of private-label merchan?dise produced in India and imported for sale into Canada will decrease.
Q4) Why do global retailers need "deep pockets"?
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Chapter 8: Financial Strategy
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) Which of the following refers to the total number of dollars received by a retailer after all refunds have been paid to customers for returned merchandise?
A) a balance sheet
B) gross margin
C) net profit
D) net sales
E) total assets
Q2) Which of the following would be listed as a liability on the balance sheet of a new office supply store?
A) The computers in the back offices
B) Copying equipment
C) Furniture displays
D) Money owed to vendors for merchandise
E) Registers at the front of the store
Q3) What are the most important current liabilities?
Q4) Name a type of retailer that would not be worried about inventory turnover ratios.
Q5) __________________ are debts that are expected to be paid in less than one year.
Q6) How do retailers ease the financial strain caused by accounts receivable?
Page 10
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Chapter 9: Information Systems and Supply Chain Management
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Which of the following describes the benefits of a pull strategy?
A) It does not require advanced systems to implement.
B) It decreases inventory turnover.
C) There is less likelihood of being overstocked or out of stock at each store.
D) It allows more efficient production and distribution scheduling to reduce costs.
E) It forecasts the competitor's demand.
Q2) Which of the following does NOT describe why retailers have been increasingly taking a leadership role in managing their respective supply chains?
A) consolidation of international retail chains
B) emergence of larger retailers
C) access to purchase information customer by customer
D) flexibility of changing retail price
E) large retailers are typically more knowledgeable than vendors
Q3) Purchase data collected at the point of sale goes into a huge database that is known as a(n)___________________.
Q4) What is the purpose of the data warehouse,and how do retailers use it?
Q5) Discuss the flow of information from the purchase of a tie at Harry Rosen's clothing store until it is replenished.
Page 11
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Chapter 10: Merchandise Management
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Sample Questions
Q1) The smallest unit available for keeping inventory control is called a(n)___________.
Q2) The producers of the Spiderman movies hoped that merchandise made with the superhero would have a period of great popularity.But they also realized that such merchandise would not be popular for long because they are:
A) styles
B) fashions
C) fads
D) staples
E) cycles
Q3) Pokemon cards were as popular as the Rubick's Cube,the Chia Pet,and the Cabbage Patch dolls,but also declined rapidly,with little following from its once loyal fans.Pokemon cards could best be described as what type of merchandise?
A) Staple
B) Fashion
C) Basic
D) Fad
E) Seasonal
Q4) How does top management set the merchandising direction for the retail company?
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Chapter 11: Buying Strategies
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111 Verified Questions
111 Flashcards
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Sample Questions
Q1) Premium branding:
A) is primarily a manufacturer product strategy
B) is an example of leveraging strategy used to bolster a retailer's private-brand sales
C) offers the consumer a private label at a comparable manufacturer-brand quality, usually with modest price savings
D) is often called house branding
E) is a risky private-branding strategy because the act may constitute trademark infringement
Q2) Which of the following statements about collaboration is true?
A) Collaboration with other retailers may be difficult to achieve
B) The lead time altered by collaboration is insignificant
C) Collaboration is not the most beneficial function of retail exchanges
D) Standard merchandise with predictable lead times will benefit most from collaboration
E) Buyers of fashion fads cannot benefit from this type of retail exchange function
Q3) What are the series of phases in a strategic partnership that are characterized by increasing levels of commitment?
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13
Chapter 12: Retail Pricing
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) The retail price of a set of four leather-bound J.K.Rowling novels is $75 and the initial markup is 51 percent.Calculate the merchandise cost.
A) $33.75
B) $25.71
C) $28.50
D) $36.75
E) $42.85
Q2) Which of the following best describes competition-oriented method of pricing?
A) Prices are double the cost of the merchandise
B) Prices are based upon adding a fixed percentage to the price of the product
C) Prices are based upon what the merchandise is worth
D) Prices are based on competitor's prices
E) Prices are based upon manufacturer's suggestions
Q3) ________________________ include markdowns,discounts to employees and customers,and inventory shrinkage (due to shoplifting,breakage,or loss).
Q4) What are the ways marked-down merchandise can be consolidated?
Q5) ___________ is the relationship of what you get to what you have to pay for it.
Q6) What are the limits of a rules-based approach of taking markdowns?
Q7) What is value?
Page 14
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Chapter 13: Human Resource Management and Staff Training Issues
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151 Verified Questions
151 Flashcards
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Sample Questions
Q1) What is the result of hiring part-time inexperienced employees?
A) sales increase
B) better customer loyalty
C) more extensive employee feedback
D) high turnover
E) higher labour expenses
Q2) Which of the following statements about the job interview is true?
A) The most commonly used job interview is the benefit interview
B) Interviews should be conducted in a busy area with lots of distractions
C) The interviewer should be prepared to be a good listener
D) The interviewer should ask leading questions to determine how well the applicant responds to trick questions
E) Interviewers should not plan interviews because they are only effective when they are spontaneous
Q3) What is the first step in developing an organizational structure?
A) Assigning jobs to individuals
B) Determining the reporting relationships
C) Determining the tasks that must be performed
D) Matching the organizational structure with that of competitors
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E) Determining the degree of employee specialization
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Chapter 14: Building Customer Loyalty: Customer
Relationship Management and Service Strategies
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185 Verified Questions
185 Flashcards
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Sample Questions
Q1) Which of the following schemes would the Mountain Equipment Co-op Catalogue most likely consider when segmenting customers?
A) CRM programs
B) Decile analysis
C) Customer pyramid
D) 80-20 rule
E) RFM analysis
Q2) ___________________ means allowing employees at the lowest level of the firm to make important decisions on how service is provided to customers.
Q3) Frequent shopper reward programs are either ______________ or they offer choices to motivate customers to increase the level of their purchases.
Q4) What is the difference between the customization approach and the standardization approach?
Q5) What are the four activities of CRM that turn customer data into customer loyalty?
Q6) _________________________ contains all of the data the firms have collected about its customers and is the foundation for subsequent CRM activities.
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Chapter 15: Appealing to the Customer: Retail Communication Mix
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96 Verified Questions
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Sample Questions
Q1) Why do retailers establish objectives for communication programs?
Q2) Publicity is often used to communicate with:
A) investors
B) employees
C) potential shoppers
D) loyal shoppers
E) all of these
Q3) When a customer is asked about retailers that sell vacuum cleaners and she responds with "Sears," it can be said that Sears has
Q4) What is the objective and task method?
Q5) Which of the following are brand names?
A) McDonald's
B) Shoppers Drug Mart
C) Winners
D) Peoples
E) All of these are brands
Q6) How can retailers build top-of-mind awareness?
Q7) What are the disadvantages associated with using the percentage-of-sales method for establishing a retail communication budget? Page 17
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