Retail Management
Final Exam
Course Introduction
Retail Management introduces students to the principles and practices essential for operating successful retail businesses in dynamic environments. The course covers key aspects such as retail strategy, store layout and location, merchandising, supply chain management, pricing, and customer service. Students will also explore the impact of technology on retailing, consumer behavior, and evolving trends such as omnichannel retailing and sustainability. Through case studies and practical assignments, learners gain insights into decision-making processes and effective management strategies needed to thrive in the competitive retail sector.
Recommended Textbook
CB 6 6th Edition by Barry J. Babin
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2052 Verified Questions
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Page 2
Chapter 1: What is CB and Why Should I Care?
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127 Verified Questions
127 Flashcards
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Sample Questions
Q1) Interaction points refer to direct contacts between the firm and a customer.
A)True
B)False
Answer: False
Q2) Interpretive research better enables researchers to test hypotheses as compared to quantitative research.
A)True
B)False
Answer: False
Q3) A product is a potentially valuable bundle of benefits.
A)True
B)False
Answer: True
Q4) Qualitative research tools gather data in a highly structured way.
A)True
B)False
Answer: False
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Chapter 2: Value and the Consumer Behavior Value Framework
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) Refer to Fast Food Scenario.Daniel is looking at establishing a long-term relationship based on trust with his customers.In doing so,Daniel is adopting a(n)_____ orientation.
A) Association Behavior Management
B) Customer Relationship Management
C) Investor Margin Management
D) Relationship Quality Management
E) Marketing Profitability Management
Answer: B
Q2) The approximate worth of a customer to a company in economic terms is known as the _____.
A) net present value (NPV)
B) customer lifetime value (CLV)
C) customer present value (CPV)
D) customer future value (CFV)
E) total customer value (TCV)
Answer: B
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Chapter 3: Consumer Learning Starts Here: Perception
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134 Flashcards
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Sample Questions
Q1) Refer to Landscaping Scenario.When a client and Petals and Palettes have different interpretations about whether the service is "worth" the client's money,it is an example of a difference in _____.
A) perception
B) motivation
C) determination
D) alienation
E) distortion
Answer: A
Q2) _____ refers to the personal relevance a consumer feels towards a particular product.
A) Involvement
B) Commitment
C) Reliability
D) Relativity
E) Compatibility
Answer: A
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Page 5
Chapter 4: Comprehension, Memory, and Cognitive Learning
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Sample Questions
Q1) Beverage marketers have realized for decades that packaging plays a major role in how beverages are perceived.In fact,studies indicate that consumers cannot even identify their "favorite" brand of beer without the package/label.This sort of association is created because of consumers' _____.
A) low level of involvement
B) congruity
C) expectations
D) low level of knowledge
E) sensitization
Q2) Name and describe four mental processes that help consumers remember things.Discuss an example of how you can use each to perform better in an exam.
Q3) The amount of information available for a consumer to process within a given environment is known as information _____.
A) assurance
B) bias
C) retrieval
D) intensity
E) hoarding
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Chapter 5: Motivation and Emotion: Driving Consumer Behavior
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Sample Questions
Q1) Enduring involvement is not temporary but rather represents a continuing interest in some product or activity.
A)True
B)False
Q2) Drinking soft drinks because one really likes the taste is driven by hedonic motivations.
A)True
B)False
Q3) Which of the following types of cognitive appraisals considers how fair some event is and can evoke emotions like warmth or anger?
A) Anticipation appraisal
B) Agency appraisal
C) Equity appraisal
D) Outcomes appraisal
E) Introspective appraisal
Q4) Emotional involvement increases when the consumer receives something extra with products purchased.
A)True
B)False
Page 7
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Chapter 6: Personality, Lifestyles, and the Self-Concept
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Sample Questions
Q1) Hierarchical approaches begin with the assumption that all personality traits are specific.
A)True
B)False
Q2) Sally is a research student who has chosen to conduct a consumer behavior research for her doctoral thesis.Believing that consumers often use products to convey their self-concepts to others,she studies luxury brands,logos,and products to find out what they mean to consumers.Which of the following best describes this field of study?
A) Teleology
B) Semiotics
C) Linguistics
D) Personology
E) Archeology
Q3) The five-factor model approach is universally accepted by all researchers.
A)True
B)False
Q4) "Baby Boomers" are those consumers who were born between 1981 and 1995.
A)True
B)False
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Chapter 7: Attitudes and Attitude Change
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139 Flashcards
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Sample Questions
Q1) Source effects is a term used to describe how the appeal of a message and its construction affect persuasion.
A)True
B)False
Q2) Which of the following is true about message construction?
A) Directly comparing one brand against specific competitors can be effective, especially when the brand being promoted is not already the market leader.
B) Overly complex messages always lead to favorable reactions.
C) Advertisements that allow consumers to arrive at their own conclusions tend to be more persuasive when the audience has a low level of involvement with the product.
D) If marketers are attempting to reach a highly involved audience, important information should ideally be placed later in the message.
E) Consumers with low involvement are more motivated to attend to a larger number of arguments than are highly motivated consumers.
Q3) Using the elaboration likelihood model (ELM),illustrate how attitudes are changed based on differing levels of consumer involvement.
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Chapter 8: Group and Interpersonal Influence
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Sample Questions
Q1) Stacy had signed up her daughters for Brownie Girl Scouts few months back.Since then,she had noticed a positive attitudinal change in them.They are now much more disciplined and responsible.According to Stacy,this change has been brought about by the Girl Scouts group.The change in Stacy's daughters can be attributed to _____.
A) group influence
B) social couponing
C) group polarization
D) social stratification
E) social loafing
Q2) Early adopter consumers are generally young and well-educated.
A)True
B)False
Q3) John dreams of gaining permanent membership in the Society for Scientists so that he will never be dissociated from any of the Society's activities.This is an example of a dissociative group.
A)True
B)False
Q4) Define the concept of word-of-mouth (WOM).Differentiate between organic WOM and amplified WOM.
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Chapter 9: Consumer Culture
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Sample Questions
Q1) The French believe that their wine is superior to wine produced elsewhere in the world.This is an example of consumer _____.
A) sinocentrism
B) ethnocentrism
C) imperialism
D) feudalism
E) xenocentrism
Q2) An influx of nonnative media can influence the rate of acculturation.
A)True
B)False
Q3) A belief among consumers that their ethnic group is superior to others and that the products that come from their native land are superior to other products is called consumer _____.
A) imperialism
B) polycentrism
C) pseudoskepticism
D) ethnocentrism
E) xenocentrism
Q4) Define core societal values (CSV).Discuss any three described in the text.
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Chapter 10: Microcultures
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Sample Questions
Q1) The term unicultural is used to describe immigrants as they face decisions and form preferences based on their old or new cultures.
A)True
B)False
Q2) Explain the role of microcultures in influencing consumer behavior.Describe two microcultures that influence your consumption behavior.
Q3) Which of the following statements is true about Generation Z?
A) Their lives and values are shaped very much by World War II and their post-war experiences.
B) They are referred to as "latchkey" kids.
C) They tend to embody the "kids growing older, younger" concept.
D) They were born between 1981 and 1995.
E) They tend to be frugal and follow, largely, utilitarian motivations with their purchases.
Q4) The differences between societal expectations of men and women vary more in Western cultures than they do in Eastern cultures.
A)True
B)False
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12
Chapter 11: Consumers in Situations
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Sample Questions
Q1) Retailers specializing in things like a wide selection of goods,low prices,guarantees,and knowledgeable employees facilitate the task of shopping.This type of positioning emphasizes the functional quality of a retail store.
A)True
B)False
Q2) Situational influences change the desirability of consuming things and therefore change the value of these things.
A)True
B)False
Q3) Compared to blue background,consumers who perceive a product in a predominantly red background tend to think the product is of higher quality.
A)True
B)False
Q4) Consumer self-regulation refers to the tendency for consumers to inhibit outside,or situational,influences from interfering with shopping intentions.
A)True
B)False
Q5) Discuss the temporal factors that affect consumer behavior.
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Chapter 12: Decision Making I: Need Recognition and Search
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Sample Questions
Q1) Which of the following statements is true about habitual decision making?
A) It occurs when a consumer believes the consumption of a specific product that they have in mind will solve the problem and deliver value.
B) It involves extensive evaluation of alternatives based on the potential to satisfy a particular need.
C) It occurs when a consumer's involvement with the particular product category is high.
D) It occurs when the perceived risk for the particular product is high.
E) It involves a time-consuming process of collecting information and comparing brands.
Q2) Which of the following types of decision-making approaches occurs when there are relatively low amounts of purchase risk and product involvement?
A) Limited decision making
B) Extended decision making
C) Experiential decision making
D) Involved decision making
E) Timed decision making
Q3) Discuss five factors that influence the amount of search performed by consumers.
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Page 14
Chapter 13: Decision Making II: Alternative Evaluation and Choice
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Sample Questions
Q1) When considering a new product,consumers rely on the knowledge that they have regarding the relevant product category.
A)True
B)False
Q2) Underlying attributes are sometimes referred to as experience qualities because they are often perceived only during consumption.
A)True
B)False
Q3) Utilitarian criteria include emotional,symbolic,and subjective attributes or benefits that are associated with an alternative.
A)True
B)False
Q4) Superordinate categories tend to be more detailed than subordinate categories. A)True
B)False
Q5) Attribute correlation of different features of a product or a service is always positive. A)True
B)False
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Chapter 14: Consumption to Satisfaction
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Sample Questions
Q1) Differentiate durable and nondurable goods with examples.
Q2) Prior to the 1930s,diamond engagement rings did not enjoy much significance in the United States.However,persistent promotions by diamond companies such as associating diamond as symbolic of the "forever" element in marriage,diamond engagement rings have now become the norm,so much so that now,it has become a cultural requirement.Which of the following accounts for the cultural significance gained by diamond engagement rings?
A) Distributive fairness
B) Meaning transference
C) Consumption frequency
D) Positive disconfirmation
E) Cognitive dissonance
Q3) When a consumer has no previous experience or expectation regarding a product,then perception directly influences satisfaction.
A)True
B)False
Q4) Services and experiences are usually classified as durable by default.
A)True
B)False
Q5) List out some possible postconsumption reactions.
Page 16
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Chapter 15: Consumer Relationships
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Sample Questions
Q1) Refer to Gourmet Restaurant Scenario.When Stella's colleagues heard her predicament,they suggested a place she might like.One of the reasons why Stella decided against it was that she found the staff at Olive's friendly and believed that they could understand her preferences in food and wine.Which of the following types of switching costs does this represent?
A) Transactional switching cost
B) Temporal switching cost
C) Financial switching cost
D) Procedural switching cost
E) Relational switching cost
Q2) In the social media world,the key is to respond quickly before negative news goes viral.
A)True
B)False
Q3) Consumers with a weak economic orientation display lower customer share with all competitors instead choosing to shop in the place with the current best offer.
A)True
B)False
Q4) Explain critical incident in the context of consumer behavior.
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Chapter 16: Consumer and Marketing Misbehavior
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Sample Questions
Q1) Compared to a magistrate,a jury tends to be less sympathetic and is much less likely to award substantive punitive as well as compensatory damages.
A)True
B)False
Q2) Which of the following refers to beliefs about the violation of written (or unwritten)laws?
A) Relativism
B) Determinism
C) Contractualism
D) Rationalism
E) Objectivism
Q3) Purchasing and using a product for a day before returning it for a refund is a practice known as retail borrowing.
A)True
B)False
Q4) Consumers who engage in retail borrowing decrease product costs.
A)True
B)False
Q5) Discuss the motivations behind consumer misbehavior.
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