Retail Marketing Exam Materials
Course Introduction
Retail Marketing explores the fundamental concepts and strategies involved in effectively promoting and selling products to consumers through retail channels. The course examines various aspects of the retail environment, including consumer behavior, store layout and design, merchandise management, pricing strategies, promotional tactics, and the integration of digital technology in retail operations. Students will gain insight into the unique challenges faced by retailers in a competitive marketplace and will develop skills to create successful marketing plans aimed at enhancing customer satisfaction and loyalty. Through case studies and practical applications, participants will learn how to adapt traditional and contemporary marketing techniques to the evolving landscape of retail.
Recommended Textbook
Marketing 4th Canadian Edition by Dhruv Grewal
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Page 2
Chapter 1: Overview of Marketing
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Sample Questions
Q1) Drakes Inc.manufactures dirt bikes.The company mass-produces bikes based on the resources available.It does not focus on the needs of the customer.This is an example of:
A)sales orientation.
B)value orientation.
C)market orientation.
D)customer orientation.
E)brand orientation.
Answer: A
Q2) Sports Inc., a global sports brand, wants to present an effective campaign across many markets.The company wants to engage the youth across key markets in Europe, and the campaign's main objective is to generate awareness about the company.These efforts are made by Sports Inc.to attract the youth as they constitute the company's:
A)primary commodity market.
B)primary target market.
C)primary currency market.
D)secondary target market.
E)niche market.
Answer: B
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Page 3
Chapter 2: Developing Marketing Strategies and a Marketing Plan
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Sample Questions
Q1) What is the next step that a business organization has to perform after completing situation analysis?
A)Identifying the organization's objectives
B)Evaluating the effectiveness of the marketing plan
C)Evaluating market performance
D)Conducting segmentation, targeting, and positioning
E)Setting marketing objectives for the organization
Answer: D
Q2) Promotion, the fourth P of a marketing mix, is essentially used by marketers to:
A)communicate the value of their offering.
B)create value for their offering.
C)make their product or service readily accessible when and where the customer wants it.
D)create value for customers' money.
E)deliver the services associated with their offering.
Answer: A
Q3) Lack of financial resources is an example of a threat that a company is facing.
A)True
B)False
Answer: False
Page 4
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Chapter 3: Analyzing the Marketing Environment
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Sample Questions
Q1) Generation Xers are also called millennials or the "echo boom" generation.
A)True
B)False
Answer: False
Q2) A period of economic downturn when the economic growth of a country is negative for at least a couple of consecutive quarters is called:
A)deflation.
B)foreign currency fluctuation.
C)inflation.
D)recession.
E)shoe leather cost.
Answer: D
Q3) If the interest rate goes down, consumers have an incentive to save more because they earn more for loaning the bank their money.
A)True
B)False
Answer: False
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Chapter 4: Consumer Behaviour
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Sample Questions
Q1) Which type of risk is less likely to be an influential risk factor when a consumer buy an expensive suits?
A)Performance risk
B)Financial risk
C)Social risk
D)Physiological risk
E)Physiological risk is also called safety risk.Compared to performance, financial, and social risk, physiological risk is less likely to be an issue with apparel.
Q2) With an external locus of control, consumers believe that fate or other external factors control all outcomes.
A)True
B)False
Q3) Explain three examples of decision heuristics.
Q4) Imagine you want to join a university.Explain in detail the evaluative criteria that would lead you to choose a particular school over others.What shortcuts would you use to arrive at a decision?
Q5) Explain Maslow's hierarchy of needs.
Q6) Explain the concept of consumer decision rules.
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Chapter 5: Business-To-Business Marketing
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Sample Questions
Q1) A car sales showroom specifies a particular brand of mag wheels to be used for the car it sells.The company considers the request made by the showroom and decides to use the wheels in its cars.The role played by the showroom is similar to that of a(n):
A)decider.
B)gatekeeper.
C)moderator.
D)buyer.
E)initiator.
Q2) What are the typical characteristics of products available in business-to-business (B2B)markets?
Q3) In the context of building business-to-business (B2B)relationships, a good white paper is one that provides information about the industry solely for promotional purposes.
A)True
B)False
Q4) What is organizational culture? How does it influence purchasing decisions in business-to-business (B2B)markets?
Q5) What is derived demand? Provide one example.
Q6) What is a buying centre?
Page 7
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Chapter 6: Segmentation, Targeting, and Positioning
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Sample Questions
Q1) Which of the following is true of a perceptual map?
A)It refers to the display, in two or more dimensions, of the position of products or brands in the consumer's mind.
B)It refers to the segmentation that tailors a product or service to suit an individual customer's wants or needs.
C)It refers to the mental picture that people have about a company and its products or services relative to competitors.
D)It refers to a strategy in which marketers change a brand's focus to target new markets or realign the brand's core emphasis with changing market preferences.
E)It refers to the practice of interacting on a one-to-one basis with many people to create custom-made products or services.
Q2) Entrepreneurial startup ventures often benefit from using a differentiated strategy, which allows them to employ their limited resources more efficiently.
A)True
B)False
Q3) Explain the concept of positioning.
Q4) Explain brand repositioning.
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Chapter 7: Marketing Research
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Sample Questions
Q1) Natalie is the marketing director of One Dollar stores, a retail chain in Canada.From the recent sales reports, Natalie notices that sales had increased in some stores and decreased in others.She is unable to predict the reason for this variation in sales.The method of research that Natalie is likely to employ to gain a better understanding of the variation and to clearly define its cause will be:
A)qualitative research.
B)panel research.
C)quantitative research.
D)conclusive research.
E)scanner research.
Q2) Romney, a manufacturer of children's clothing, wants to launch an exclusive line of shoes and accessories for children.Romney hires TrendSmart to conduct market research on its behalf.TrendSmart is ready to move beyond preliminary insights and needs to confirm these insights.Briefly describe any three methods TrendSmart can use to conduct this research.
Q3) What is biased data? Many fast food restaurants measure customer satisfaction after customer make a purchase.Explain how biased data could be an issue for fast food restaurants.
Q4) What are the advantages of primary research?
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Chapter 8: Developing New Products
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Sample Questions
Q1) Professor Edward has authored a wide range of textbooks on statistics.Professor Edward still prefers to use a typewriter while typing material for his new books as he is not comfortable using a computer.According to the diffusion of innovation model, to which of the following group of buyers does Professor Edward belong?
A)Innovators
B)Laggards
C)Late majority
D)Early majority
E)Fad users
Q2) Firms that invest in the latest technology, either to use in their new products or services or to make the firm more efficient, are considered:
A)first movers.
B)innovators.
C)lead users.
D)laggards.
E)early adopters.
Q3) Disruptive products require a higher level of learning from consumers.
A)True
B)False
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Page 10
Chapter 9: Product, Branding, and Packaging Decisions
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Sample Questions
Q1) Miller International's agreement with the small manufacturers that will manufacture sports apparel under the Miller International brand is an example of:
A)brand loyalty.
B)brand equity.
C)brand licensing.
D)brand extension.
E)brand dilution.
Q2) Milk and eggs are inexpensive items that are frequently purchased.They are examples of:
A)shopping products.
B)unsought products.
C)extended products.
D)specialty products.
E)convenience products.
Q3) Explain how brand-loyal customers are an important source of value for firms.
Q4) Cobranding occurs when a brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold.
A)True
B)False
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Chapter 10: Services: The Intangible Product
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Sample Questions
Q1) Explain the four characteristics of services that differentiate them from products.How do marketers deal with the challenges resulting from these characteristics? Provide one example for each characteristics.
Q2) Harris Inc., a multinational retailer, introduced a new initiative to improve its customer service across its stores.In its recent initiative, Harris has authorized its store representatives to make their own decisions to help their customers.In the context of service delivery, which of the following best describes Harris's initiative?
A)Providing durable services
B)Reducing the zone of tolerance
C)Encouraging distributive fairness
D)Empowering service providers
E)Promoting procedural fairness
Q3) The Clare Group of hotels is known for its impeccable service.How can the company ensure that there is no variability in the quality of service across its hotels in different locations?
Q4) What is a voice-of-customer program?
Q5) Why is the perishability of services a challenge for marketers? Provide one example to support your answer.
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Chapter 11: Pricing Concepts and Strategies: Establishing Value
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Sample Questions
Q1) Explain the limitations associated with a break-even analysis.
Q2) When determining its pricing strategy, if a firm is willing to let profits suffer in order to increase its customer base, the company objective is most likely to be:
A)sales oriented.
B)customer oriented.
C)profit oriented.
D)cost oriented.
E)quality oriented.
Q3) Briefly explain reference price and external reference price.
Q4) The price excluding the variable costs per unit is referred to as the:
A)total cost per unit.
B)fluctuating cost per unit.
C)contribution per unit.
D)average cost per unit.
E)rebatable cost per unit.
Q5) For price skimming to work, the product or service must offer consumers new benefits currently unavailable in alternative products.
A)True
B)False
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Chapter 12: Distribution Channels
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Sample Questions
Q1) Lead time is the amount of time between:
A)the recognition that an order needs to be placed and the arrival of the needed merchandise.
B)manufacturing a product and taking the product to the warehouse.
C)the conception of a product idea and the manufacture of a product.
D)the conception of a product idea and the procurement of raw materials.
E)procuring the necessary raw materials and assembling the raw materials to a finished product.
Q2) Distribution channels add value for customers because they:
A)are the most important component of product promotions
B)conduct multiple quality reviews for a product
C)do not include external entities or vendors
D)get products to buyers quickly and at low cost
E)are crucial only for technical offerings of products
Q3) Describe a contractual vertical marketing system.
Q4) Explain the three functions performed by intermediaries in a distribution channel.Provide examples to support your answer.
Q5) Explain how supply chain management affects marketing.
Q6) Explain the three types of distribution centres.
Q7) Explain a distribution channel.
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Chapter 13: Retailing and Omni-Channel Marketing
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Sample Questions
Q1) Today, most successful retailers try to treat all their customers the same.
A)True
B)False
Q2) Retail stores that offer a broad variety and deep assortment of merchandise, provide some customer services, and are organized into separate departments to display their merchandise are referred to as:
A)discount stores.
B)department stores.
C)specialty stores.
D)category specialists.
E)convenience stores.
Q3) Which of the following is NOT a benefit offered to customers by the store channel?
A)Touching and feeling products
B)cash and credit payment
C)Instant gratification
D)risk reduction
E)Access to gift registries
Q4) Define the term "retailing."
Q5) Explain the Wheel of Retailing with an example.
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Chapter 14: Integrated Marketing Communications
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Sample
Questions
Q1) Jeff started a pet care centre.First, he compiled a list of people in his neighbourhood who had pets, and then he used the Internet to send messages to all these people to let them know of the services he was offering.This is an example of:
A)cause-related marketing.
B)direct mail.
C)DRTV.
D)a kiosk.
E)media buy.
Q2) You are the marketing manager of a company that deals in hockey equipment.The company has launched a new series of hockey sticks in the market.It has also asked a few national-level hockey players to endorse the product.The endorsement would be aired on national television in the form of an ad.How would you assess the effectiveness of the advertising campaign?
Q3) Explain the concept of gross rating points.
Q4) Moral appeals are considered a separate category that stands apart from the rational and emotional categories of advertising appeals.
A)True
B)False
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Page 16
Chapter 15: Advertising, Sales Promotions, and Personal Selling
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Sample Questions
Q1) A new brand attempts to create awareness among its target customers.In which of the following stages of the AIDA model is the brand most likely to be found?
A)Interest
B)Feel
C)Action
D)Desire
E)Attention
Q2) Distinguish between informative advertising and persuasive advertising.Provide one example for each.
Q3) Marketing communication must work to increase a customer's interest level once he or she is aware that a company or product exists.
A)True
B)False
Q4) The famous Tim Hortons "roll up the rim" event is an example of:
A)A loyalty program
B)A deal
C)A premium
D)A contest
E)A sweepstake
Page 17
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Chapter 16: Social and Mobile Marketing
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Sample Questions
Q1) Which of the following is true of owned media?
A)They are more expensive than paid media.
B)They are less expensive than earned media.
C)They include TV, print, radio, or display ads used to reach mass markets.
D)They are controlled by the advertiser.
E)They result from word-of-mouth, buzz, or publicity.
Q2) Differentiate between paid, owned, and earned media.Provide at least one example for each.
Q3) Style.com offers a mobile application for people to access the same content available on the Style magazine website, including blogs, reviews, couture shows, and video feeds.This mobile application is an example of a:
A)personal app.
B)corporate app.
C)fashion app.
D)location app.
E)price checking app.
Q4) Describe sentiment analysis.
Q5) What are the appropriate steps that a firm should take as part of its social media marketing strategy to make it successful? Explain with the help of an example.
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Chapter 17: Global Marketing
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Sample Questions
Q1) A form of trade sanction that prohibits trading with a certain country or trading in specific goods by the signatory countries is called a(n):
A)tariff.
B)quota.
C)embargo.
D)trade agreement.
E)duty.
Q2) A manufacturing firm is trying to determine the market potential for its product in a country by measuring the relative level of imports and exports.This analysis is employed to evaluate the:
A)market size and population growth rate.
B)general economic environment of the country.
C)sociocultural factors that can affect the marketing of the firm's product.
D)technology and infrastructure capabilities of the country.
E)consumers' buying power in the country.
Q3) Dumping refers to a group's refusal to deal commercially with some organization to protest against its policies.
A)True
B)False
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Page 19
Chapter 18: Ethics and Socially Responsible Marketing
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Sample Questions
Q1) Charles's company, which is facing an ethical issue, has identified the stakeholders, listened to their concerns, and gathered available data to deal with the issue.Which of the following is the next step to be undertaken by the company?
A)Pursuing legal discourse
B)Hiring new employees to speed up the decision-making process
C)Identifying the issues
D)Choosing a course of action
E)Brainstorming and evaluating alternatives
Q2) How can ethics be integrated at each stage of the strategic marketing planning process?
Q3) Trends, a marketing research firm, conducts a survey without telling the respondents about the real purpose of the survey.Trends has failed in:
A)identifying the ethical concerns in its action.
B)locating the appropriate target segment.
C)gathering information and identifying stakeholders.
D)brainstorming and evaluating alternatives.
E)choosing a course of action.
Q4) How is an ethical climate created in a workplace? Provide an example.
Q5) What is required of a firm before it can align personal and corporate goals?
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