Retail Management Test Questions
Course Introduction
Retail Management explores the dynamic processes involved in operating and sustaining successful retail businesses in the contemporary marketplace. This course covers key topics such as retail strategy formulation, customer relationship management, merchandise planning, store layout and design, supply chain logistics, and emerging trends including omni-channel retailing and e-commerce. Students will examine real-world case studies, analyze consumer behaviors, and develop practical skills for managing retail operations efficiently. By the end of the course, participants will have gained a comprehensive understanding of how to adapt to the rapidly evolving retail landscape and implement best practices to achieve business objectives.
Recommended Textbook
Marketing Management A Strategic Decision Making Approach 8th Edition by John Mullins
Available Study Resources on Quizplus
18 Chapters
1450 Verified Questions
1450 Flashcards
Source URL: https://quizplus.com/study-set/1711 Page 2
Chapter 1: The Marketing Management Process
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/33989
Sample Questions
Q1) Albus Technologies is a firm that functions in drastically changing technology trends.The economic situations in the industry are also changing drastically.Which of the 4 Cs is associated with these external factors?
A)Company
B)Context
C)Customers
D)Competitor
Answer: B
Q2) Which of the following sections in a marketing plan discusses how the plan's progress will be monitored and present special plans?
A)Contingency plans
B)Key issues
C)Action plans
D)Marketing objectives
Answer: C
Q3) Advertising and salesforce decisions are part of a company's promotion.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above.
Page 3
Chapter 2: The Marketing Implications of Corporate and Business Strategies
Available Study Resources on Quizplus for this Chatper
85 Verified Questions
85 Flashcards
Source URL: https://quizplus.com/quiz/33990
Sample Questions
Q1) A strategy is a fundamental pattern of present and planned objectives,resource deployments,and interactions of an organization with markets,competitors,and other environmental factors.
A)True
B)False
Answer: True
Q2) Hi-Purr is a pet-grooming business operating over 20 branches in and around the San Francisco area.The firm's stated mission is to become the "preferred destination for pet-owners who desire the very best for their pets." The firm routinely holds pet shows and organizes many other interactive activities centered on studying customer needs and working to realize them.On this evidence,Hi-Purr is a _____ firm.
A)market-oriented
B)monopolistic
C)profit-oriented
D)transaction-oriented
Answer: A
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Understanding Market Opportunities
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/33991
Sample Questions
Q1) A reduction in the administrative and legal barriers to competition is called:
A)segmentation.
B)protectionism.
C)nationalization.
D)deregulation.
Answer: D
Q2) In the context of rivalry among present competitors,which of the following is true?
A)Firms are mostly independent of one another.
B)Profitability increases as rivalry increases.
C)Rivalry is greater when the rate of investment intensity is low.
D)Rivalry occurs among firms producing goods that are substitutes for each other.
Answer: D
Q3) All of the following fall under the category of sociocultural trends,EXCEPT:
A)the increase in the world's older population.
B)the popularity of natural foods.
C)increase in the number of fitness clubs.
D)the lowering of fat and cholesterol in packaged fooD.
Answer: A
To view all questions and flashcards with answers, click on the resource link above.
Chapter 4: Understanding Consumer Buying Behavior
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/33992
Sample Questions
Q1) The process of _____ allows us to select,organize and interpret information.
A)perception
B)exposure
C)attention
D)comprehension
Q2) Mention the factors that are influenced by demographics.
Q3) Most consumers think a product or service is insufficiently important to identify with it.
A)True
B)False
Q4) Products are more difficult to evaluate than services.
A)True
B)False
Q5) _____ include professional organizations and individuals who provide advice for consumers,such as doctors,lawyers,government agencies,and consumer-interest groups.
A)Commercial sources
B)Personal sources
C)Public sources
D)Nominal sources
Page 6
To view all questions and flashcards with answers, click on the resource link above.
Chapter 5: Understanding Organizational Markets and Buying Behavior
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/33993
Sample Questions
Q1) Reciprocity occurs when an organization favors a supplier that is also a customer or potential customer for the organization's own products or services.
A)True
B)False
Q2) Business services provide special expertise to facilitate ongoing operations.
A)True
B)False
Q3) Component parts and materials are regarded as:
A)finished goods that facilitate production of a final product.
B)processed goods that become a portion of a final product.
C)finished goods that facilitate repair,maintenance,and ongoing operations.
D)major capital goods that are used to produce the final product,but not being part of the final product.
Q4) Compare the buyer-seller relationships between organizational markets and consumer markets?
Q5) Component parts and materials are major capital goods used to produce final product,but are not part of the final product.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Measuring Market Opportunities: Forecasting and Market Knowledge
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/33994
Sample Questions
Q1) Calculating customer lifetime value does not require historical data.
A)True
B)False
Q2) Secondary data refers to data:
A)collected from individuals.
B)that already exists.
C)collected from experts.
D)obtained through experimentation.
Q3) Greater confidence can be placed in quantitative studies because of:
A)their larger sample size.
B)the type of the people sampled.
C)the involvement of focus groups.
D)their independence of statistical methods.
Q4) Name each step of the marketing process and explain what could go wrong at each step.
Q5) The principal benefit of qualitative research lies in its measurement of a population's attitudes toward or likely response to products or marketing programs.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Targeting Attractive Market Segments
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/33995
Sample Questions
Q1) Behavioral attributes can take many forms,including those based on consumer needs;on product usage patterns;on more general behavioral patterns,including lifestyle.
A)True
B)False
Q2) Geographic segmentation is important in retailing and many services businesses,where customers are unwilling to travel very far to obtain the goods or services they require.
A)True
B)False
Q3) Product usage is important because in many markets a small proportion of potential customers makes a high percentage of all purchases.
A)True
B)False
Q4) Distinguish between market segmentation,target marketing,and brand positioning.
Q5) Most entrepreneurial ventures that target narrowly defined market segments at the outset are not successful.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Differentiation and Brand Positioning
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/33996
Sample Questions
Q1) Barney feels that the cars made by Blue Wheels Ltd.are fast,swift,easy to maintain,and user-friendly compared to other car brands.The marketing team of Blue Wheels Ltd.has been modeling its communication to leave such an impression in customers' minds.These perceptions are referred to as:
A)market penetration.
B)market development.
C)brand positioning.
D)extensive perceptions.
Q2) Readily available data is used typically for perceptual positioning.
A)True
B)False
Q3) Perceptual positioning:
A)requires marketing research.
B)has a technical orientation.
C)use readily available data.
D)has large number of dimensions.
Q4) List the steps in the positioning process.
Q5) Describe the categorization of attributes that should be endowed by marketing decision makers in their brands.
Q6) Distinguish between a positioning statement and a value proposition.
Page 10
To view all questions and flashcards with answers, click on the resource link above.
Chapter 9: Business Strategies: a Foundation for Marketing Program Decisions
Available Study Resources on Quizplus for this Chatper
82 Verified Questions
82 Flashcards
Source URL: https://quizplus.com/quiz/33997
Sample Questions
Q1) Most SBUs simultaneously pursue different competitive strategies across all product-markets in which they compete.
A)True
B)False
Q2) According to the Miles and Snow typology,the prospector strategic type:
A)is likely to be the "first mover" in new-product market areas.
B)attempts to locate and maintain a secure niche in relatively stable product areas.
C)attempts to maintain a stable,limited line of products.
D)lacks a well-defined strategy.
Q3) The sharing of operating facilities and programs may be an inappropriate approach to gaining synergy for businesses following a prospector strategy.
A)True
B)False
Q4) A low-cost defender strategy is usually not so effective in fragmented markets desiring customized offerings as it is in commodity industries.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Product Decisions
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/33998
Sample Questions
Q1) In laboratory test markets,the procedure by which a consumer adopts a new product includes the steps of awareness,trial and:
A)special testing.
B)repeat buying.
C)field test marketing.
D)termination.
Q2) Which of the following statements is true of the strategic importance of product life cycle?
A)The need for substantial investments reduces as a product moves into the growth stage.
B)The most important strategic objective of the growth stage is to accelerate overall market growth through awareness,trial,and product availability.
C)The firm with the largest share during the introductory and growth stages should have the lowest per-unit costs due to scale and learning effects.
D)The product life cycle model's major strength lies in its normative approach to prescribing strategies based on assumptions about the features or characteristics of each stage.
Q3) Briefly explain the customer-driven approaches applied to spur innovation.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 11: Pricing Decisions
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/33999
Sample Questions
Q1) Cloud 9,a US-based producer of chips and snacks,sells its products to a French supermarket chain.30% of the revenues it receives from the sales must be spent on products from France.This is an example of a(n)_____ countertrade agreement.
A)barter
B)buyback
C)offset
D)compensation
Q2) Aries,a small-appliance manufacturer,produces a line of mixer-grinders and expects to sell 60,000 units in the coming period.A fixed cost of $600,000 is associated with producing the mixer-grinders,and variable cost is $20 per unit.The unit cost for each mixer-grinder would be _____.
A)20
B)30
C)10
D)40
Q3) Differentiate between target return pricing and market pricing.
Q4) How is unit cost calculated?
Q5) What is price lining? Explain with the help of an example.
Q6) When is differential pricing most likely to occur?
Page 13
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Distribution Channel Decisions
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/34000
Sample Questions
Q1) _____ specialize in the selling function and represent client manufacturers on a commission basis.
A)Merchant wholesalers
B)Agent middlemen
C)Retailers
D)Jobbers
Q2) When the brand holds a small relative share of the total market,the firm may have to offer extra incentives and inducements to wholesalers or retailers to achieve an adequate product availability.
A)True
B)False
Q3) A sole ownership investment entry strategy involves setting up a production facility in a foreign country.
A)True
B)False
Q4) List and explain the basic sources of power within a channel relationship.
Q5) What are the types of agent middlemen? Briefly explain each.
Q6) Describe the service requirements that might be targeted for consumers,industrial end users,or other members of the distribution channel.
Page 14
To view all questions and flashcards with answers, click on the resource link above.
Chapter 13: Integrated Promotion Decisions
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/34001
Sample Questions
Q1) Discuss out-of-home,exhibition,and supplementary media.
Q2) _____ is a technology that provides a way for consumers to receive audio via the Internet.
A)Portal management
B)Podcasting
C)Blogging
D)Banner advertising
Q3) The first step in designing the promotion mix is choosing the specific activities within each promotion component.
A)True
B)False
Q4) All of the following are examples of outdoor media EXCEPT:
A)transit shelters.
B)electronic signs.
C)streetcars.
D)yellow pages.
Q5) Publicity can be used to accomplish different objectives among different groups. A)True
B)False
Q6) Briefly explain the four elements of the promotion mix.
Page 15
To view all questions and flashcards with answers, click on the resource link above.
Chapter 14: Marketing Strategies for a Digitally Networked World
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/34002
Sample Questions
Q1) The sale of the same information to many customers,who then combine the information with information from other sources,and distribute it,is referred to as:
A)customization.
B)disintermediation.
C)syndication.
D)information dissemination.
Q2) Collaborative filtering is a way of personalizing a market offering to each customer.
A)True
B)False
Q3) Explain the time-critical factor of information that would help a firm decide if it should digitize information.
Q4) Which of the following stages in the customer experience process ensues if a customer likes what is offered?
A)Product promotion and brand building
B)Customer insight
C)Product disposal
D)Transaction
Q5) What is a positive network effect?
To view all questions and flashcards with answers, click on the resource link above. Page 16
Chapter 15: Strategies for New and Growing Markets
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/34003
Sample Questions
Q1) A follower typically has more options to design a distribution channel to bring the new product to market than pioneers.
A)True
B)False
Q2) Which type of marketing strategy has as its primary objective to maximize the number of triers and adopters only in a particular targeted market segment?
A)Mass-market penetration strategy
B)Niche penetration strategy
C)Skimming and early withdrawal strategy
D)Harvesting strategy
Q3) An encirclement strategy makes sense when the market is not fragmented and consists of consumers with homogenous needs.
A)True
B)False
Q4) Success of a pioneering strategy depends on the nature of the demand and competitive situation the pioneer encounters in the market.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: Strategies for Mature and Declining Markets
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/34004
Sample Questions
Q1) Which of the following is the critical determinant of success in mature markets?
A)Correct choice between a differentiation and a low-cost strategy
B)Continuous functioning of a business to improve the value of its offerings
C)Increases in volume of a business
D)New product successes of a business
Q2) Which of the following is true of the maturity phase of an industry?
A)It is depicted as one of instability characterized by fluctuating prices.
B)As the maturity stage progresses,a variety of threats and opportunities can disrupt an industry's stability.
C)As a market matures,first-time buyers account for the vast majority of total volume rather than replacement purchases.
D)During the maturity phase of an industry,profitability and public awareness begin to rise.
Q3) Conditions of demand help determine the strategic attractiveness of declining product markets.
A)True
B)False
Q4) Describe the major gaps in service quality.
Q5) Explain the aspects of a harvesting strategy and a maintenance strategy.
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Organizing and Planning for Effective Implementation
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/34005
Sample Questions
Q1) Adaptiveness and innovativeness are enhanced when:
A)specialization is limited in the structure.
B)informal coordination is promoted.
C)there are rigid rules and policies.
D)decision-making authority is centralizeD.
Q2) Adaptiveness and innovativeness are enhanced when decision-making authority is centralized.
A)True
B)False
Q3) A product-management organizational design would most likely be appropriate when the firm sells:
A)a single product to a large number of different customers.
B)only a few products in a relatively stable competitive environment.
C)a large number of products in a relatively simple and stable environment.
D)a large number of products in an unstable environment.
Q4) A company following a differentiated defender strategy is most likely to have:
A)moderate SBU autonomy.
B)very few incentive programs.
C)high SBU autonomy.
D)high synergy in areas central to differentiation.
To view all questions and flashcards with answers, click on the resource link above. Page 19
Chapter 18: Measuring and Delivering Marketing Performance
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/34006
Sample Questions
Q1) Which of the following is true of search engine optimization and search engine marketing?
A)Search engine optimization involves buying keywords known as AdWords for which consumers are likely to search.
B)Search engine marketing refers to a set of techniques that helps ensure that a company's web pages are ranked highly when consumers search for information using a search engine.
C)Organic search is driven by proprietary algorithms which are similar to every search engine.
D)The results of a company's effective use of search engine optimization are that a company's web pages rank higher in the results returned from consumers' searches.
Q2) The performance measurement system monitors the extent to which employees achieve their performance targets.
A)True
B)False
Q3) Explain any three types of audits conducted by large marketing organizations.
Q4) What are the steps in the contingency planning process?
Q5) Explain the importance of a line-item margin and expense analysis.
Page 20
To view all questions and flashcards with answers, click on the resource link above.