Retail Marketing Exam Materials
Course Introduction
Retail Marketing explores the strategies and practices involved in marketing goods and services directly to consumers through various retail channels. The course covers key concepts such as retail market segmentation, consumer behavior, store layout and design, merchandise planning, pricing strategies, and promotional tactics. Students will learn how retailers use both traditional storefronts and digital platforms to enhance customer experiences, build brand loyalty, and drive sales. Case studies, industry trends, and hands-on projects help students develop effective marketing plans for different types of retail organizations in a dynamic and competitive environment.
Recommended Textbook
Marketing 6th Edition by Dhruv Grewal
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19 Chapters
2792 Verified Questions
2792 Flashcards
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Page 2
Chapter 1: Overview of Marketing
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Sample Questions
Q1) Henriette offers financial counseling and management on a fee-only basis.She has found that different customers are willing to pay different rates for her services.This shows that her pricing decisions should depend primarily on A) choosing an average price that she will charge all her clients.
B) changes in technology allowing consumers to manage their own affairs.
C) how different customers perceive the value of her services.
D) changes in the economy.
E) how much her competitors charge for similar services.
Answer: C
Q2) People who organize,operate,and assume the risk of a business venture are called A) entrepreneurs.
B) leaders.
C) managers.
D) professionals.
E) consultants.
Answer: A
Q3) Value is what you get for what you give.
A)True
B)False
Answer: True
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Chapter 2: Developing Marketing Strategies and a Marketing Plan
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Sample Questions
Q1) A mission statement describes the specific actions a firm will take to achieve its goals.
A)True
B)False
Answer: False
Q2) In July 2010,Microsoft discontinued the Kin,its social networking phone,after just six weeks of disappointing sales.During what step of the strategic marketing planning process would Microsoft have made the decision to stop offering the product? Answer: Step 5-Evaluate performance using marketing metrics. Some students might also answer "Control phase." Strictly speaking,this is a phase and not a step; however,Step 5 is the only step of the process that fits into the Control phase,so you may want to accept both as correct answers. If you want to make this question more difficult,you can add to the question the following: What should Microsoft have done before deciding to discontinue the product? The answer: Microsoft should have determined the causes for the disappointing sales to determine whether or not another action (perhaps a different target market,a price adjustment,or a revised promotion plan)could put sales back on track.
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Page 4
Chapter 4: Conscious Marketing,corporate Social Responsibility,and Ethics
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209 Verified Questions
209 Flashcards
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Sample Questions
Q1) Individuals achieve the _____________ effect when they check in,post a picture to Instagram,upload a video to YouTube,or share a link to an article they have liked on Facebook.
A) media
B) information
C) connected
D) social
E) interconnected
Q2) Provide an example of how a company,such as Coca-Cola,might engage a customer through the use of beacon technology.
Q3) The dynamic effect of social media engagement expands the impact of the network effect by examining how people flow in and out of networked communities as their interests change.
A)True
B)False
Q4) Distinguish between business ethics and marketing ethics.
Q5) What is the difference between government regulation of business and corporate social responsibility?
Q6) List and describe the seven primary motivations for mobile app usage.
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Chapter 5: Analyzing the Marketing Environment
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132 Flashcards
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Sample Questions
Q1) The results of the 2010 census suggest what about the 42 million African American U.S.households?
A) They are more affluent and suburban.
B) They are younger and less affluent.
C) They are less affluent, but more suburban.
D) They are older and less affluent.
E) They are older and more urban.
Q2) What retailer,in 2013,suffered a massive security breach that allowed hackers to steal credit and debit card information for millions of customers?
A) Macy's
B) Target
C) Kmart
D) Sears
E) JCPenney
Q3) Discuss how privacy concerns have become a current social issue.What technological invention has prompted the rise in concern over privacy?
Q4) Describe Digital Natives,and explain the impact of technological advances on this group.
Q5) Describe the buying power and characteristics of the Hispanic consumer.
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Chapter 6: Consumer Behavior
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Sample Questions
Q1) Jordana is a travel agent.Whenever she sells an expensive vacation package,she encourages the customer to buy travel insurance,which provides reimbursement in case of trip cancellation due to illness or another emergency.Jordana is trying to reduce her customers' __________ risk.
A) psychological
B) financial
C) performance
D) social
E) physiological
Q2) Why is it dangerous for marketers to set unrealistically high consumer expectations?
Q3) Whenever major golf professionals use a new piece of golf equipment,sales of that equipment jump rapidly.What type of social influence do PGA and LPGA professionals represent for average golfers?
Q4) Frazier is out of milk and bread and needs to decide what is for dinner.He will be stopping at the grocery store on the way home.Frazier will likely engage in limited problem solving.
A)True
B)False
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Chapter 7: Business-To-Business Marketing
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152 Flashcards
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Sample Questions
Q1) The World Trade Organization creates proposals that are then discussed by more than 150 member countries and not approved until the proposal is agreeable to all.Describe the type of organizational culture that exists in the WTO.
Q2) When you go to the hospital for an operation,you are the decider in the buying process.
A)True
B)False
Q3) The final step of the business-to-business buying process is a formal vendor performance analysis.
A)True
B)False
Q4) An Internet site whose purpose is to be a major starting point for users when they connect to the web and is often used by smaller companies in the RFP process is referred to as a(n)
A) podcast.
B) Internet channel.
C) web portal.
D) buying center.
E) search engine.
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Chapter 8: Global Marketing
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148 Flashcards
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Sample Questions
Q1) In most cases,countries use tariffs to reduce foreign competition,but tariffs are also used
A) to shorten supply chains.
B) as a response to perceived unfair trade practices.
C) to offer domestic discounts.
D) to stimulate consumer demand.
E) as a way to equalize quotas.
Q2) A consumer products company produces inexpensive goods in underdeveloped markets,then repackages them as cost-effective innovations for Western buyers.This is an example of glocalization.
A)True
B)False
Q3) Marketers considering operations and trade with a specific country must consider whether or not the country belongs to a trading bloc.A trading bloc is a group of countries
A) that have established a formal agreement to manage trade activities.
B) using the same currency.
C) with similar cultural shopping patterns.
D) located next to each other.
E) with similar political views.
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Chapter 9: Segmentation,targeting,and Positioning
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148 Verified Questions
148 Flashcards
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Sample Questions
Q1) The first step in the STP process is to
A) identify the segmentation methods to be used.
B) produce a list of strengths and weaknesses of the firm's past marketing strategies.
C) establish the overall strategy or objectives.
D) select target markets.
E) develop a marketing mix, so that an appropriate segment can later be identified.
Q2) Television advertising has recently expanded to include "mini-ads," which are short ads lasting five to ten seconds.These ads are most useful in advertising to men,since men are more likely than women to channel surf during commercial breaks.Given this fact,this type of advertising will be more useful to marketers engaged in __________ segmentation.
A) demographic
B) psychographic
C) behavioral
D) benefits
E) geographic
Q3) Create an example of geodemographic segmentation.
Q4) Write a value proposition for your favorite restaurant.
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Page 10
Chapter 10: Marketing Research
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Sample Questions
Q1) Victor's custom auctioneering service provides online auction selling assistance.Victor plans to conduct marketing research to determine which auction site is best for his customers.His next step is to
A) identify the type of data he needs.
B) determine the statistical software he will use.
C) outline the presentation format he will use.
D) collect data.
E) define his privacy policy.
Q2) Marketing researchers have access to a great deal of information about consumers.What kinds of pressure might be brought to bear on a marketing researcher that might cause ethical dilemmas?
Q3) Fingerprints are an example of biometric data.
A)True B)False
Q4) Briena is looking at the results of a syndicated study conducted two years ago.Briena is looking at primary data.
A)True
B)False
Q5) Why are more and more marketing researchers using online surveys?
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Chapter 11: Product,branding,and Packaging Decisions
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149 Flashcards
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Sample Questions
Q1) Effective marketers recognize that a label is much more than just a sticker on a package.What can a label do for a marketer?
Q2) All of the following are considered part of the "actual product" level of the product offer except A) product warranty. B) features.
C) design.
D) quality.
E) brand name.
Q3) Effective packaging and labels send consumers the signal "Buy me!" A)True
B)False
Q4) A university that has separate graduate and undergraduate admission offices recognizes that these are distinct A) brand associations. B) product lines. C) product mixes. D) brands.
E) augmented services.
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Chapter 12: Developing New Products
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Sample Questions
Q1) What is the difference between alpha testing and beta testing?
Q2) Beverly is assessing the results of a new product launch of a series of e-books for her bookstore.When evaluating the results,Beverly will likely consider all of the following except
A) why it took her so long to consider the new product line.
B) if the e-books are generating the expected level of profit.
C) if the e-books are generating the expected level of sales.
D) if her customers are interested in the new books.
E) if the e-books function as expected.
Q3) Define and describe the product life cycle stage in which laggards begin to purchase products.
Q4) The product life cycle is theoretically __________ with regard to sales and profits.
A) U shaped
B) Y shaped
C) bell shaped
D) circular
E) flat lined
Q5) Why is the failure rate for new products so high?
Q6) Why do you think that many biotechnology firms license their new products?
Page 13
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Chapter 13: Services: the Intangible Product
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Sample Questions
Q1) One approach marketers are using to reduce service __________ is to replace people with machines whenever appropriate.
A) intangibility
B) inseparability
C) spendability
D) perishability
E) heterogeneity
Q2) Gerald's Tire Service provides each employee with a clean,sharp-looking uniform.It also instructs employees to put all tools back where they belong and keep the work area clean and uncluttered.Gerald's Tire Service emphasizes __________ in the five service quality dimensions.
A) assurance
B) reliability
C) tangibles
D) responsiveness
E) empathy
Q3) What should a service provider do when a customer gets emotional about the service failure?
Q4) What are some of the outcomes that result from a communication gap?
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Chapter 14: Pricing Concepts for Establishing Value
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Sample Questions
Q1) _______ products are products whose demands are positively related and as such,they rise or fall together.
A) Substitute
B) Premium
C) Elastic
D) Inelastic
E) Complementary
Q2) The observation that consumers are generally more sensitive to price increases than to price decreases suggests that
A) most consumers cannot remember what price they paid the last time they bought a particular product.
B) it is easier to lose customers with a price increase than to gain customers with a price decrease.
C) most consumers would rather skip buying a product than pay a higher price.
D) most consumers are emotionally attached to their favorite products and are unlikely to change, even if the price changes.
E) firms gain more customers with price decreases than they lose with price increases.
Q3) How is consumer behavior affected by the "income effect"?
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15
Chapter 15: Supply Chain and Channel Management
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Sample Questions
Q1) Charging a relatively high price for new and innovative products to those consumers most willing and able to pay the high price is called price
A) penetration.
B) bundling.
C) fixing.
D) referencing.
E) skimming.
Q2) When Walmart communicates to consumers that,for any given group of often-purchased items,its prices will tend to be lower than that of any other competitor,Walmart is exhibiting what type of pricing strategy?
A) high/low
B) EDLP
C) price skimming
D) uniform delivered pricing
E) bait and switch
Q3) It is best if firms choose one pricing strategy to use for all its products rather than use different methods for pricing.
A)True
B)False
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Page 16
Chapter 16: Supply Chain and Channel Management
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Sample Questions
Q1) In a(n)__________ marketing channel,several independent members each attempt to satisfy their own objectives and maximize their profits,often at the expense of the other members.
A) cooperative
B) independent
C) contractual
D) administered
E) corporate
Q2) All of the following statements about distribution centers are true except
A) they enable retailers to carry less merchandise in individual stores.
B) distribution center space is typically more expensive than retail space.
C) they are appropriate for all retailers, from the largest to the smallest.
D) they are the quickest way to get all products to retailers.
E) they complicate the process of predicting accurate sales forecasts.
Q3) When manufacturers such as Pampered Chef sell directly to consumers,they perform both production and retailing activities.
A)True
B)False
Q4) Where does the value for the consumer lie in the supply chain?
Q5) Compare an independent supply chain with a vertical marketing system.
Page 17
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Chapter 17: Retailing and Omnichannel Marketing
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139 Verified Questions
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Sample Questions
Q1) Retailers' coupons,rebates,and online discounts are types of
A) in-store promotions.
B) specialty product displays.
C) pricing promotions.
D) off-price wholesaling.
E) mass media advertising.
Q2) Convenience for the customer is seldom a factor for manufacturers when choosing a retail partner.
A)True
B)False
Q3) The knowledge retailers can gain from their store personnel and customer relationship management databases is valuable for developing
A) supply chain relationships.
B) extreme value retailing efforts.
C) increased customer loyalty.
D) global private-label brands.
E) omnichannel retailing.
Q4) Name three kinds of food retailers and five kind of general merchandise retailers.
Q5) How has the relationship between manufacturers and retailers changed?
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Chapter 18: Integrated Marketing Communications
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Sample Questions
Q1) When using the objective-and-task method of IMC budgeting for multiple products and services,how often must the process be repeated?
A) never, after the first product/service
B) once, for each individual product and service
C) once, by each management team member
D) only when a product is removed from the line
E) when the prior year's budget is exceeded
Q2) Several years ago,changes in advertising restrictions allowed pharmaceutical companies to begin promoting their products through traditional media.Today,it is common to see ads on television ending with,"Ask your doctor about [our medicine]." In addition to creating awareness about their drugs,the companies are most likely hoping to
A) reduce deceptive advertising.
B) signal encoding symbols to simplify the feedback loop.
C) offer objective-and-task marketing communications.
D) stimulate interest, persuading consumers to investigate further.
E) promote public interest social responsibility communications.
Q3) What types of sales promotions would a marketer consider if the goal is to build short-term sales?
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Page 19
Chapter 19: Advertising,public Relations,and Sales
Promotions
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Sample Questions
Q1) The __________ is the primary enforcement agency for mass media advertising.
A) FDA
B) FCC
C) FTC
D) BATF
E) USPS
Q2) Reminder advertising is primarily used to
A) prompt repurchase of a product.
B) create and build brand awareness.
C) accelerate market acceptance.
D) gather information about consumers.
E) persuade consumers to change existing perceptions.
Q3) Create two appeals for a nonprofit organization whose cause you support-one informational appeal,and one emotional appeal.
Q4) Briefly define public relations.Why is public relations an important part of a marketing campaign?
Q5) What are PSAs? Why do television and radio stations run them?
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Q6) What type of advertising appeal is most appropriate for a marketer introducing hydrogen-powered automobiles to consumers?
Chapter 20: Personal Selling and Sales Management
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Sample Questions
Q1) Fred sells health insurance packages for small businesses.He has been given the names of ten new businesses in his town.During the qualifying leads stage of the selling process,Fred will likely try to assess which of the ten businesses
A) would respond best to a sales contest.
B) are closest to his office.
C) need health insurance packages and can afford them.
D) have order getters and order takers.
E) are willing to meet with him.
Q2) ________ training is excellent for communicating selling and negotiation skills,because managers can observe the sales trainees in real selling situations and provide instant feedback.
A) Role-play
B) Internet-based
C) Simulation
D) On-the-job
E) Distance learning
Q3) One of the benefits of careers in sales is flexibility in scheduling.
A)True
B)False
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Page 21