Retail Management Practice Exam
Course Introduction
Retail Management provides a comprehensive overview of the principles, strategies, and practices used in the modern retail sector. The course covers topics such as store layout and design, merchandise planning, supply chain logistics, customer service, retail marketing, e-commerce integration, and the use of technology in retail operations. Students will explore the challenges faced by retailers in a competitive environment and gain practical knowledge in managing retail personnel, understanding consumer behavior, and implementing effective sales techniques. Through case studies and real-world examples, learners will develop skills necessary for analyzing retail business models and making informed management decisions in both physical and digital retail environments.
Recommended Textbook
CB 5 5th Edition by Barry J. Babin
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Page 2
Chapter 1: What Is Cb and Why Should I Care
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Q1) Which of the following statements is true of consumer behavior as a field of study?
A)Consumer behavior traces its roots back to the 1700s when the first book in this field was published.
B)Consumer behavior shares strong interdisciplianry connections with economics,psychology,and marketing.
C)Consumer behavior excludes from its purview the influence of human sciences like psychology and sociology to maintain its scientific nature.
D)Consumer behavior allows little scope for conducting original research.
E)Consumer behavior uses quantitative research methods like experimentation and correlation exclusively.
Answer: B
Q2) Researchers agree that the interpretive approach is the best approach to study consumer behavior.
A)True
B)False
Answer: False
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Chapter 2: Value and the Consumer Behavior Value Framework
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Q1) Define consumer value,and compare and contrast utilitarian value and hedonic value.Describe two situations - one in which you received utilitarian value and the other in which you experienced hedonic value.Which made you more satisfied? Explain why.
Answer: Value is a personal assessment of the net worth obtained from an activity.Value is what consumers ultimately pursue because valuable actions address motivations that manifest themselves in needs and desires.In this sense,value captures how much gratification a consumer receives from consumption. Two key types of value are utilitarian value and hedonic value.Utilitarian value is derived from a product that helps the consumer solve problems and accomplish tasks that are a part of being a consumer.A rational explanation can usually be given when somebody explains why something was purchased when utilitarian value is involved.Hedonic value is the immediate gratification that comes from experiencing some activity.Conceptually,hedonic value differs from utilitarian value in several ways: (1)hedonic value is an end in and of itself,rather than a means to an end,(2)hedonic value is very emotional and subjective in nature,and (3)when a consumer does something to obtain hedonic value,the action can sometimes be very difficult to explain objectively.
Students' examples will vary.
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Page 4
Chapter 3: Consumer Learning Starts Here: Perception
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Sample Questions
Q1) Which of the following refers to the removal of bad stimuli as a way of encouraging behavior?
A)Continuous reinforcement
B)Negative punishment
C)Negative reinforcement
D)Positive reinforcement
E)Positive punishment
Answer: C
Q2) _____ learning occurs when behavior is modified through a consumer-stimulus interaction without a cognitive effort to understand a stimulus.
A)Tangential
B)Unintentional
C)Formal
D)Observational
E)Avoidance
Answer: B
Q3) The term cognitive refers to a mental or thinking process.
A)True
B)False
Answer: True
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Chapter 4: Comprehension,memory,and Cognitive Learning
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Q1) Consumers who reach the elaboration stage are least likely to meaningfully encode information so that intentional retrieval becomes impossible at a later stage.
A)True
B)False
Q2) Some categories are not well represented by an exemplar.For instance,a "pharmaceutical sales rep" category likely does not evoke a specific person who best represents that category.However,an image is associated in one's mind with the category.This type of schema is known as a(n)_____.
A)specimen
B)prototype
C)epitome
D)stereotype
E)archetype
Q3) Workbench memory has limited capacity.
A)True
B)False
Q4) Consumers derive expectations for service encounters from scripts.
A)True
B)False
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Chapter 5: Motivation and Emotion: Driving Consumer Behavior
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Sample Questions
Q1) Define aesthetic labor and explain why it is important.Apply it in the following types of businesses:
(a)Clothing store catering to teenagers
(b)Cosmetic counter in a department store
(c)Expensive imported car dealership
(d)Amusement park
Q2) Situational involvement is associated with hedonic value because consuming a product for which a consumer has high enduring involvement is personally gratifying.
A)True
B)False
Q3) Situational involvement often comes about when consumers are shopping for something that they have little interest in but that comes with a relatively high price.
A)True
B)False
Q4) Product involvement represents the temporary involvement associated with some imminent purchase situation.
A)True
B)False
Page 7
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Chapter 6: Personality,lifestyles,and the Self-Concept
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Q1) _____ refers to the tendency of consumers to take excessive pride in themselves,including their appearance and accomplishments.
A)Trait vanity
B)Trait anxiety
C)Innovativeness
D)Frugality
E)Competitiveness
Q2) Define trait.Differentiate between the nomothetic and idiographic approaches.
Q3) Which of the following classifies consumers into eight distinct segments based on resources available to the consumer,as well as three primary motivations?
A)PERT
B)AIDA
C)VALS 2
D)SIPOC
E)PRIZM
Q4) "Baby Boomers" are those consumers who were born between 1981 and 1995.
A)True
B)False
Q5) Explain self-congruency theory and its relevance to consumer behavior.
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Chapter 7: Attitudes and Attitude Change
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Q1) In balance theory,unit relations are the relations between the observer (consumer)and the other elements in the system.
A)True
B)False
Q2) Mike has a passion for sports cars.He owns an envious array of sports sedans and supercars,and keeps himself updated about the latest models,their features,and so on.According to the elaboration likelihood model,which of the following is most likely to be activated when Mike comes across an advertisement for a new sports vehicle introduced in the market?
A)Peripheral route to persuasion
B)Contrast effect route to persuasion
C)Central route to persuasion
D)Latitude of rejection route to persuasion
E)Low-involvement hierarchy route to persuasion
Q3) Impulse purchases are never motivated by feelings.
A)True
B)False
Q4) The balance theory is based on the consistency principle.
A)True
B)False
9
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Chapter 8: Group and Interpersonal Influence
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Q1) The traditional household life cycle segments families into groups based on the number of dependent children and their consumption capacities.
A)True
B)False
Q2) Brandfests are extravagant events that bring together a variety of brands under one roof to discuss marketing strategies.
A)True
B)False
Q3) Richard,a tennis player,has dreams of winning all four Grand Slam titles so that he can be a member of the exclusive club of players with a Career Grand Slam.This is an example of a(n)_____ group.
A)primary
B)aspirational
C)associative
D)dissociative
E)informal
Q4) All consumers tend to adopt new products at similar rates.
A)True
B)False
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Chapter 9: Consumer Culture
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Sample Questions
Q1) Which of the following is used to compare average scores for consumer attitudes from one culture to the next?
A)Numerical equivalence
B)Attitudinal equivalence
C)Translational equivalence
D)Conceptual equivalence
E)Scalar equivalence
Q2) Jane lives in a place where an individual is primarily identified as belonging to a "particular family." Jane lives in a highly individualistic society.
A)True
B)False
Q3) An individual's consumption activity helps determine how accepted he or she is by the other consumers in the society.
A)True
B)False
Q4) Ethnocentrism is highly related to the concept of uncertainty avoidance.
A)True
B)False
Q5) Define core societal values (CSV).Discuss any three described in the text.
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Chapter 10: Microcultures
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Q1) Explain the role of microcultures in influencing consumer behavior.Describe two microcultures that influence your consumption behavior.
Q2) When Charles married Candace,everyone agreed that it was a match made in heaven.They were both doctors who grew up in the countryside with strong traditional values.Such marriages between people belonging to identical social classes are known as _____.
A)homogamy
B)monogamy
C)endogamy
D)exogamy
E)polygamy
Q3) Generation Z represents young consumers born between 1995 and 2010.
A)True
B)False
Q4) Demographics refer to observable,statistical aspects of populations such as age,gender,or income.
A)True
B)False
Q5) Describe the six generational microcultures in the United States.
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Chapter 11: Consumers in Situations
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Sample Questions
Q1) Personal shopping value (PSV)is the overall subjective worth of a shopping activity considering all associated costs and benefits.
A)True
B)False
Q2) Refer to Weekend Shopping Scenario.Mrs.Smith never forgets to replenish their stock of Caribbean coffee as her husband,a writer,generally feels groggy and sleepy after lunch in the afternoon.The coffee keeps him awake at such times.Which of the following temporal factors most likely accounts for Mrs.Smith's coffee purchase?
A)Time pressure
B)Time constant
C)Time reciprocity
D)Time of the day
E)Time of the year
Q3) Seasonality refers to regularly occurring conditions that vary with the time of year.
A)True
B)False
Q4) Discuss the temporal factors that affect consumer behavior.
Q5) 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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Q1) When Anna goes shopping for groceries every week,she buys the same brand of orange juice that her family has been consuming for years.She picks up the juice without looking at the product information prior to buying it.Which of the following types of decision-making approaches is Anna is most likely adopting while buying orange juice?
A)Extended decision making
B)Rational decision making
C)Habitual decision making
D)Involved decision making
E)Timed decision making
Q2) The rate at which a promotion is transitioned into a sale is known as promotional _____ rate.
A)consolidation
B)evolution
C)transition
D)optimization
E)conversion
Q3) Describe the three major decision-making perspectives.Describe a purchase decision you or your family made that illustrates a combination of these perspectives.
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Chapter 13: Decision Making Ii: Alternative Evaluation and Choice
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Q1) Refer to Lawn Sprinkler Scenario.Mathew bought the new sprinkler because it came with an automated sensor that controlled the amount of water as well as pressure depending on the humidity and temperature on a given day.Which of the following criteria is most likely responsible for Mathew's purchasing decision?
A)Relative criteria
B)Rational criteria
C)Hedonic criteria
D)Egalitarian criteria
E)Utilitarian criteria
Q2) Conjoint analysis is used to understand the attributes that guide preferences by having consumers compare products across levels of evaluative criteria and the expected utility associated with the alternatives.
A)True
B)False
Q3) Compensatory rules allow consumers to select products that may perform poorly on one attribute by compensating for the poor performance by good performance on another attribute.
A)True
B)False
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Chapter 14: Consumption to Satisfaction
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Q1) The process through which cultural meaning is transferred to a product and onto the consumer is called meaning transference.
A)True
B)False
Q2) Expectations that a consumer forms regarding what he or she thinks should happen given the level of work that he or she has put into the experience are known as predictive expectations.
A)True
B)False
Q3) Goods that are consumed quickly are known as _____ goods.
A)durable
B)nondurable
C)recyclable
D)nondegradable
E)nonperishable
Q4) Service quality is often discussed as the difference between consumer expectations of different service aspects and the actual service that is delivered.
A)True
B)False
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Chapter 15: Consumer Relationships
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Q1) _____ costs are the costs associated with changing from one choice,such as a brand,retailer,or service provider,to another.
A)Switching
B)Transfer
C)Conversion
D)Shilling
E)Infiltrating
Q2) Negative word-of-mouth (negative WOM)takes place when consumers pass on negative information about a company from one to another.
A)True
B)False
Q3) Which of the following types of switching costs involves lost time and effort?
A)Rational switching cost
B)Financial switching cost
C)Relational switching cost
D)Temporal switching cost
E)Procedural switching cost
Q4) What is a third party endorsement? What are its two types?
Q5) Explain how relationship quality impacts value for both customers and the firm.
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Chapter 16: Consumer and Marketing Misbehavior
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Q1) A man of few words,Tom is a typically soft spoken and mild-mannered guy.However,recently,when in line to book tickets for the first show of a new movie starring his favorite actors,he yelled and created a scene as the tickets got sold out before his turn at the counter.Which of the following motivations of consumer misbehavior best explains Tom's behavior?
A)Thrill-seeking
B)Differential association
C)Pathological socialization
D)Provocative situational factors
E)Opportunism
Q2) Procter & Gamble,makers of Tide laundry detergent,set up mobile stations called Loads of Hope where people affected by natural disasters such as Hurricane Katrina can do their laundry for free.Which of the following is being employed by Procter & Gamble to fulfill its corporate social responsibility?
A)Ethical duties
B)Altruistic duties
C)Rational duties
D)Obligatory initiatives
E)Partnership initiatives
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