Retail Management
Final Test Solutions
Course Introduction
Retail Management explores the principles, strategies, and operations involved in running successful retail businesses. The course covers fundamental topics such as retail formats, consumer behavior, store layout, merchandising, supply chain logistics, pricing strategies, and the impact of technology in the retail sector. Students learn to evaluate retail locations, manage inventory, implement effective marketing techniques, and analyze contemporary trends affecting the global retail landscape. By the end of the course, learners develop essential skills for managing retail operations, improving customer experiences, and adapting to changes in the competitive retail environment.
Recommended Textbook
CB 6 6th Edition by Barry J. Babin
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16 Chapters
2052 Verified Questions
2052 Flashcards
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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) One-to-one marketing treats each customer as a segment of one.
A)True
B)False
Answer: True
Q2) In which research approach to understanding consumer behavior,do researchers derive meaning from talking to people and observing behavior rather than analyzing data?
A) Interpretive research
B) Quantitative research
C) Archival research
D) Metanalytic research
E) Grounded theory research
Answer: A
Q3) A product is defined as _____.
A) a potentially valuable bundle of benefits
B) the physical effort required in the purchase
C) the attributes of an item a customer buys
D) the resource allocated toward satisfying a felt need
E) the cost associated with buying the physical parts of a product
Answer: A
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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) Customer lifetime value is equal to sales attributed to a particular customer minus the costs associated with satisfying that customer over the lifetime of that customer.
A)True
B)False Answer: False
Q2) Both consumers and marketers enter exchange-seeking value.
A)True
B)False Answer: True
Q3) The marketing mix represents the way a marketing strategy is implemented within a given market or exchange environment.
A)True
B)False Answer: True
Q4) Value equals the difference between what you get and what you have to give to get the product.
A)True
B)False Answer: True
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Chapter 3: Consumer Learning Starts Here: Perception
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134 Verified Questions
134 Flashcards
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Sample Questions
Q1) Refer to Warning Labels Scenario.Research reveals that the best way to quit is the reduce the intake of tobacco in small increments over time rather than an attempt at quitting it altogether.This is an example of achieving the desired behavior through
A) selective exposure
B) shaping
C) selective attention
D) delayed conditioning
E) accommodation
Answer: B
Q2) Which of the following approaches to learning focuses on changes in one's conduct that occur as conditioned responses to stimuli,without concern for the cognitive mechanics of the process?
A) Connectivist approach
B) Transformative approach
C) Constructivist approach
D) Behaviorist approach
E) Cognitve approach
Answer: D
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Chapter 4: Comprehension, Memory, and Cognitive Learning
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130 Verified Questions
130 Flashcards
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Sample Questions
Q1) Refer to Prom Night Scenario.Sara was so happy when she was dancing the waltz that-the crowd,the noise,the music-everything drowned out.This indicates that the noise of the crowd and the music were most likely to be stored in Sara's _____ memory.
A) sensory
B) short-term
C) workbench
D) long-term
E) procedural
Q2) Research suggests that traditional cigarette warning labels have a significant impact on consumer behavior.
A)True
B)False
Q3) Consumers derive expectations for service encounters from scripts.
A)True
B)False
Q4) A social schema is the cognitive representation that gives a specific type of person meaning.
A)True
B)False
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Chapter 5: Motivation and Emotion: Driving Consumer Behavior
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) Sara is waiting for the results of a job interview she appeared for.She is anxious to know about the outcome and hopes that she will be selected for the job.This is an example of _____ appraisal.
A) anticipation
B) situational
C) agency
D) equity
E) retrospective
Q2) _____ refers to the fact that consumers feel uneasy about buying things that others have previously touched.
A) Product contagion
B) Product dissociation
C) Buyer's remorse
D) Buyer's dissonance
E) Product contamination
Q3) Describe Maslow's hierarchy of needs and give an example of each type of need.
Q4) According to Maslow's theory,consumers first seek value by satisfying the most basic needs.
A)True
B)False
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Chapter 6: Personality, Lifestyles, and the Self-Concept
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137 Verified Questions
137 Flashcards
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Sample Questions
Q1) According to the idiographic perspective,consumers agree on the shared meaning of products and symbols.
A)True
B)False
Q2) Carla Miller,a wealthy socialite and interior designer,belongs to an elite community comprising of the rich and the famous of New York City.She is seen wearing only high-end designer clothing and accessories that speak of her high social status,as she cares about what others think of her.She likes to present herself perfectly in social situations and is seen only in the company of the elite.Which of the following traits can be associated with Carla's behavior?
A) Low self-monitoring
B) Low need for cognition
C) High frugality
D) High self-monitoring
E) Low self-esteem
Q3) Personality helps explain why a particular behavior provides great value to one consumer but none to another.
A)True
B)False
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Page 8
Chapter 7: Attitudes and Attitude Change
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139 Verified Questions
139 Flashcards
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Sample Questions
Q1) Which of the following types of effect is said to occur when material presented later in the message has the most impact?
A) Primacy effect
B) Contrast effect
C) Recency effect
D) Negative effect
E) Peripheral effect
Q2) The elaboration likelihood model (ELM)illustrates how consumers compare incoming information to their existing attitudes about a particular object or issue.
A)True
B)False
Q3) _____ refers to the extent to which a company actively monitors its customers' attitudes over time.
A) Marketing audit
B) Affect monitoring
C) Attitude tracking
D) Planned monitoring
E) Proactive assessment
Q4) Name and describe the four functions of attitudes.
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Chapter 8: Group and Interpersonal Influence
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128 Verified Questions
128 Flashcards
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Sample
Questions
Q1) Patrick graduated from college this year,however,he decided to stay with his parents in order to save money and pay off his college debts.Patrick is most likely to be described as being a part of _____.
A) the sandwich generation
B) Generation X
C) the boomerang kids generation
D) the baby boomers generation
E) Generation Jones
Q2) Discuss some social networking websites of which you are a member.Give an example of how membership to these social networking websites influences your consumption behavior.
Q3) Barbara is an active member of her church.She is the choir director and the head of youth activities.Barbara can best be associated with the _____ self-schema.
A) connected
B) idealized
C) dissociated
D) actualized
E) separated
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Chapter 9: Consumer Culture
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127 Verified Questions
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Sample Questions
Q1) Jonah lives in a place where summers are unheard of and temperatures hardly rise above sub-zero.As a result,people living in that region rarely take daily showers,unlike people living in tropical regions.This difference in the frequency of showers between cultures can be attributed to the difference in _____ factors.
A) accommodative
B) ecological
C) evolutionary
D) demographic
E) physiological
Q2) The idea that when someone does a good deed for you,you are expected to return that good deed is known as _____.
A) renquing
B) kaizen
C) guanxi
D) nemawashi
E) mottainai
Q3) Define consumer culture.How does it influence consumers' perception of value? Explain the functions it performs for consumers.
Q4) Define core societal values (CSV).Discuss any three described in the text.
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Chapter 10: Microcultures
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126 Verified Questions
126 Flashcards
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Sample Questions
Q1) Wen,a consumer researcher,is conducting a research on the buying behavior of the Hispanics.As part of her study,she calculates a consumer's buying power by relating it to the consumer's income.The consumer attributes that Wen employs in her research can best be described as _____.
A) geographics
B) demographics
C) ethnographics
D) psychographics
E) orthographics
Q2) Refer to Immigrant Scenario.Anita joined Delta,a sorority for geometry lovers.She has always been passionate about geometry and her membership to Delta,not only defines her on-campus personality,it makes her 'cool' in front of her other peers.Which of the following terms best describes Anita's decision to join Delta?
A) Isolation
B) Acculturation
C) Emergence
D) Divergence
E) Resurgence
Q3) Describe the six generational microcultures in the United States.
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Page 12
Chapter 11: Consumers in Situations
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) Which of the following terms refers to humans' physical and psychological processing of smells?
A) Auditory
B) Gustatory
C) Ocular
D) Olfactory
E) Kinesthetic
Q2) The way a retail store is defined in the mind of a shopper based on the combination of functional and affective qualities is known as retail _____.
A) synchronicity
B) utility
C) functionality
D) personality
E) edge
Q3) An environment with a favorable functional quality tends to be associated with some degree of positive affect.
A)True
B)False
Q4) Compare and contrast impulsive,unplanned,and compulsive shopping behaviors.
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Chapter 12: Decision Making I: Need Recognition and Search
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127 Verified Questions
127 Flashcards
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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 is true about behavioral influence decision-making perspective?
A) Consumers are rational and they diligently gather information about purchases.
B) Consumers compare various brands of products on salient attributes.
C) Consumers' behaviors are influenced by environmental forces.
D) Consumers make informed decisions regarding what brand to buy.
E) Consumers' behaviors are influenced by cognitive 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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126 Verified Questions
126 Flashcards
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Sample Questions
Q1) New alternatives of a product will be compared to exemplars first and then to other brands that are found in the brand category.
A)True
B)False
Q2) The practice of offering essentially identical products with different model numbers or names is known as _____.
A) branded valuation
B) branded variants
C) brand equity
D) brand extension
E) brand diversification
Q3) Refer to Energy Bar Scenario.Using the lexicographic rule,the consumer is most likely to select _____.
A) Crayton Bar as it has the highest protein content
B) Goodie-meal Bar as it has the lowest fat content
C) Snacky-Bar as it has the lowest sugar content
D) Goodie-meal Bar as it has the highest sugar content
E) Snacky-Bar as it has the lowest calorie count
Q4) Name and describe the four types of noncompensatory decision rules.
Page 15
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Chapter 14: Consumption to Satisfaction
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127 Verified Questions
127 Flashcards
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Sample Questions
Q1) Jane is eagerly looking forward to attend the summer festival that will take place over the next few weeks as she believes that it will be a fun event.Jane's belief is a reflection of her _____ from the event.
A) substantiations
B) expectations
C) premeditations
D) confirmations
E) temptations
Q2) With low involvement,high expectations will be associated directly with increased dissatisfaction,and low expectations will be associated directly with increased satisfaction.
A)True
B)False
Q3) Analysis of typical consumer responses to a direct,global measure scale indicates that the data are right skewed.
A)True
B)False
Q4) Define expectations.Describe the four types of consumer expectations with an example for each.
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Chapter 15: Consumer Relationships
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) A 3rd Party Endorsement represents one form of publicity in which an ostensibly objective outsider (neither the customer nor business)provides publicly available purchase recommendations.
A)True
B)False
Q2) Perceptions of justice are included within the _____ cognitions.
A) spatial
B) numerical
C) equity
D) comparative
E) qualitative
Q3) Customers who have switched service providers are less likely to become loyal customers when they experience increased hedonic value compared to the previous service provider.
A)True
B)False
Q4) For functional types of services,hedonic value is more strongly related to customer share than is utilitarian value.
A)True
B)False
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Chapter 16: Consumer and Marketing Misbehavior
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123 Verified Questions
123 Flashcards
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Sample Questions
Q1) Define consumer misbehavior.Discuss retail borrowing as an instance of consumer misbehavior.
Q2) Morals are personal standards and beliefs that are used to guide individual action.
A)True
B)False
Q3) College students who have higher self-actualization values generally have lower attitudes toward binge drinking,whereas students who value social affiliation tend to have more positive attitudes toward the behavior.
A)True
B)False
Q4) Which of the following represents beliefs regarding the fairness or justness of an act?
A) Utilitarianism
B) Moral equity
C) Relativism
D) Contractualism
E) Social determinism
Q5) What role does value play in consumer misbehavior?
Q6) Discuss the motivations behind consumer misbehavior.
Page 18
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