Retail Marketing Exam Questions
Course Introduction
Retail Marketing explores the strategies and tactics used by retailers to attract and retain customers in a competitive marketplace. The course examines key concepts such as consumer behavior, store layout, merchandising, pricing strategies, and the role of technology in modern retailing. Students will analyze the effectiveness of various promotional techniques, location selection, and the integration of traditional and digital channels. By studying current trends and best practices, learners develop the skills needed to create compelling retail marketing plans that align with organizational goals and evolving consumer demands.
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) Effectively managing supply chain relationships has a minimal effect on profitability.
A)True
B)False
Answer: False
Q2) As use of the Internet took off,car manufacturers were tempted to sell directly to consumers,but decided instead to continue to sell through their existing dealer networks.The car manufacturers considered switching from __________ to __________ marketing.
A) B2C; B2B
B) B2C; C2C
C) B2B; B2C
D) B2B; C2C
E) C2C; B2C
Answer: C
Q3) What are the four Ps of marketing? Give an example of each. Answer: Product,price,place,and promotion.Examples will vary.
Q4) If you were hired as a supply chain manager,whom would you interact with?
Answer: You would likely interact with suppliers,production staff,warehousing and logistics people,transportation companies,and retailers.
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Chapter 2: Developing Marketing Strategies and a Marketing Plan
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Sample Questions
Q1) For many years,Southwest Airlines distinguished itself as the low-cost airline.Now,many other low-cost competitors have entered the market.Similarly,Southwest was one of the first airlines to offer online ticketing.Now,all airlines have online ticketing.These examples suggest that
A) no single strategy is likely to be sufficient to build a sustainable competitive advantage.
B) a situation analysis does not accurately predict a firm's strengths.
C) customer excellence cannot be achieved.
D) product excellence is the only true source of a sustainable competitive advantage.
E) innovation is pointless because competitors will develop copycat offerings.
Answer: A
Q2) The "implement marketing mix" step of the strategic marketing planning process is part of the control phase.
A)True
B)False
Answer: False
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Page 4
Chapter 4: Conscious Marketing,corporate Social Responsibility,and Ethics
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209 Flashcards
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Sample Questions
Q1) In a process called _______,a customer visits a store to touch,feel,and even discuss a product's features with a sales associate,and then instantly compares the prices online to see whether a better deal is available.
A) deal-finding
B) window-shopping
C) highlighting
D) matching
E) showrooming
Q2) Your text notes that the networking benefits of LinkedIn are particularly beneficial for which group?
A) entertainment marketers
B) photo enthusiasts
C) small-business owners
D) athletes
E) journalists and bloggers
Q3) BlendMate,a firm that manufactures high-end blenders,donates $10 per blender sold to a local food bank.This is a form of corporate social responsibility.
A)True
B)False
Page 5
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Chapter 5: Analyzing the Marketing Environment
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Sample Questions
Q1) As the euro becomes more expensive relative to the dollar,Americans are likely to purchase more European wines.
A)True
B)False
Q2) Demographics are transmitted by words,literature,and institutions from generation to generation.
A)True
B)False
Q3) Inflation refers to the cost of borrowing money.
A)True
B)False
Q4) A generational cohort is a group of people
A) who purchase only one brand of a product throughout their lifetime.
B) who grew up and went to school together.
C) with the same beliefs and values.
D) who are of the same generation.
E) who are not open to new things.
Q5) Baby Boomers represent a tremendous opportunity for today's marketers.Who are the Baby Boomers? Based on their age,what might be some products that they would be interested in?
6
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Chapter 6: Consumer Behavior
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Sample Questions
Q1) Larry operates a fishing resort in the Galapagos Islands.Few guests visit his remote island more than once,but Larry has his assistant e-mail recent customers each month to see how satisfied they were with their stay at his resort.Why would Larry spend effort on past customers if few guests come more than once?
Q2) Budweiser is well known for the use of humor in its ad campaigns for Bud Light beer.Based on the use of humor in advertising for beer,does Budweiser believe that beer is a high-involvement or low-involvement purchase for most consumers? Explain your answer using the elaboration likelihood model.
Q3) Limited problem solving usually relies on
A) past experience more than on external information.
B) situational stimuli and attitudes.
C) external searches for information.
D) financial analysis of performance risk.
E) evaluation of the universal set.
Q4) Setting high customer expectations is a good strategy that will help avoid customer dissatisfaction in the long run.
A)True
B)False
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Page 7
Chapter 7: Business-To-Business Marketing
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Sample Questions
Q1) Most B2B buying situations can be categorized as new buys,modified rebuys,and A) generic buys.
B) straight rebuys.
C) ordinary rebuys.
D) adapted buys.
E) minor buys.
Q2) The buying center for USF Corporation is in the process of discussing price,quality,and delivery schedules with potential suppliers.They are in the __________ stage of the business-to-business buying process.
A) vendor negotiation
B) product specification
C) need recognition
D) vendor performance assessment
E) RFP
Q3) Briefly describe the four types of buying centers and give an example of each.
Q4) As a business-to-business marketer,would you prefer to market to a firm with an autocratic or a consensus buying center culture,and why?
Q5) Explain the advantages and disadvantages of using the RFP process,both for the buying organization and the vendor.
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Chapter 8: Global Marketing
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Sample Questions
Q1) Exporting refers to a situation where a company maintains ownership of its plants,operational facilities,and offices in a foreign country in which it sells its products.
A)True
B)False
Q2) When a company decides to minimize risk and enter a global market by shipping its products to buyers in other countries,this is known as
A) exporting.
B) franchising.
C) a strategic alliance.
D) a joint venture.
E) direct investment.
Q3) To maximize potential,segments and target markets can and should be defined by more than just geography.
A)True
B)False
Q4) What would it mean if Oreo adopted a glocalization strategy for global sales of its cookies?
Q5) How is the retail landscape in India changing?
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Chapter 9: Segmentation,targeting,and Positioning
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Sample Questions
Q1) Kim's Kayak Tours identified active retirees living in the retirement community nearby as one of her potential target markets.She knows she can tailor her service and marketing message to the schedules and interests of this audience.How will Kim evaluate the attractiveness of this segment?
Q2) As the marketing manager of your firm,you are responsible for evaluating segments based on their attractiveness.Identify the five criteria and explain how your firm would use this information to determine if a segment is worth pursuing.
Q3) When Penguin Catering Services first opened,the owner decided to target only events at resorts in its geographic region.Penguin Catering was using a(n)__________ targeting strategy.
A) concentrated
B) micromarketing
C) benefit-driven
D) differentiated
E) undifferentiated
Q4) The STP process is made up of strategy,targeting,and promotion.
A)True
B)False
Q5) List the steps in the segmentation,targeting,and positioning process.
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Chapter 10: Marketing Research
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Sample Questions
Q1) During the research design step of the marketing research process,researchers identify the type of data needed and
A) the statistical software to be used.
B) the dates when data will be collected.
C) the forum in which the data will be presented.
D) the identities of research participants in the project.
E) the type of research necessary to collect the data.
Q2) All of the following data sources would be considered external secondary data except
A) U.S. Census data.
B) syndicated data.
C) newspaper articles.
D) scanner data.
E) a survey.
Q3) In-depth interviews are expensive and time-consuming.Why do marketing researchers sometimes use in-depth interviews in spite of these disadvantages?
Q4) The terms external secondary data and syndicated data mean the same thing.
A)True
B)False
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Chapter 11: Product,branding,and Packaging Decisions
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Sample Questions
Q1) A decrease in a company's product depth will always hurt its marketing efforts.
A)True
B)False
Q2) How do marketers measure the value of a brand?
Q3) Adidas,Pepsi,Kitchen-Aid,and Sony are considered famous ________ brands because they are owned and managed by the manufacturer.
A) national
B) retailer
C) international
D) premium
E) family
Q4) A company's product line consists of its various product mixes.
A)True
B)False
Q5) Colgate,like any major consumer products company,is always looking for opportunities to expand its product lines.What two industry factors often influence product line expansion decisions?
Q6) A product label is just a required sticker on a package.
A)True
B)False
Page 12
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Chapter 12: Developing New Products
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Sample Questions
Q1) Inkjet printers were a big improvement over the dot-matrix printers they replaced.Inkjet printers gained rapid acceptance in the marketplace primarily because of their
A) relative advantage.
B) compatibility.
C) observability.
D) complexity.
E) trialability.
Q2) Bob and George live in the United States.Bob recently asked for George's cell phone number,but George said he didn't own a cell phone.George would probably be considered a(n)__________ in the diffusion of innovation process.
A) innovator
B) laggard
C) late majority adopter
D) early majority adopter
E) early adopter
Q3) New product development adds value to a firm's products and services through innovation.
A)True
B)False
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Chapter 13: Services: the Intangible Product
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Sample Questions
Q1) Online reviews of the Paradise Motel by its customers indicate that the motel offered stale food,it advertised babysitting services that were not readily available,and had an assistant manager with a poor attitude.If you were the new manager of the Paradise Motel,how would you use the five dimensions of service quality to identify and correct the problems?
Q2) The new hotel manager asked the chef,"Are you sure you know how to cook Beef Wellington?" Which of the service dimensions was the hotel manager expressing concern about?
A) reliability
B) responsiveness
C) assurance
D) empathy
E) tangibles
Q3) Jackson manages a men's styling salon in the Buckhead area of Atlanta.He has trained his sales staff to report comments and requests for services the store currently does not offer.Which services gap might this information help reduce?
Q4) What is the difference between a service standard of "be nice to customers" as compared to a service standard of "greet every customer,and if possible by name"?
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Page 14
Chapter 14: Pricing Concepts for Establishing Value
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Sample Questions
Q1) Explain the difference between fixed and variable costs and provide examples of each.
Q2) American Airlines just reduced its fares for summer flights by $100.00.00.Delta Airlines changes its pricing structure and reduces its flights by $100 as well.Delta is employing status quo pricing.
A)True
B)False
Q3) Pure competition occurs when there are many firms competing for customers in a given market but their products are differentiated.
A)True
B)False
Q4) The Coffee Express company is located in a business district with few customers on the weekend.To attract customers on Saturday and Sundays,it reduces its prices on these two days.This is an example of A) dynamic pricing.
B) the substitution effect.
C) the income effect.
D) the target return effect.
E) cross-price elasticity.
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Chapter 15: Supply Chain and Channel Management
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Sample Questions
Q1) A reference price might be considered deceptive if
A) the internal reference point is different from the external reference point.
B) the reference price is more than two times the cost of the item.
C) the reference price has been inflated or is fictitious.
D) the reference price has changed more than once in the past 12 months.
E) it reflects actual manufacturing costs plus 50 percent.
Q2) Retailers use _______ to get rid of slow-moving or obsolete merchandise.
A) markdowns
B) slotting allowances
C) price lining
D) rebates
E) seasonal allowances
Q3) What is one of the drawbacks of using a price skimming strategy?
A) It is difficult to lower prices on an introductory product.
B) Price skimming allows competitors to easily enter the market.
C) Firms must consider the high costs associated with producing a small volume of product.
D) Price skimming does not work well with new-to-the-market, innovative products.
E) Price skimming is often challenged as being illegal.
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Page 16
Chapter 16: Supply Chain and Channel Management
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Sample Questions
Q1) As a very small manufacturer of nutritional products for race horses,Horse Health Products Company maintained information using bookkeeping and inventory management software and communicated with customers through e-mail and fax.As its business expanded,Horse Health Products's owner began to consider creating an electronic data interchange.What could an EDI system do for his company?
Q2) At the BMW plant in Spartanburg,South Carolina,rather than use a typical order-to-delivery process,it has suppliers deliver parts every four hours when the plant is in operation.BMW uses a ______ inventory control system.
A) cross-docking
B) lead time
C) just-in-time (JIT)
D) pick ticket
E) UPC
Q3) The vertical marketing system that exhibits the most formalization and control is the corporate vertical marketing system.
A)True
B)False
Q4) Name three benefits of a strategic relationship between channel members.
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Page 17
Chapter 17: Retailing and Omnichannel Marketing
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Sample Questions
Q1) Retailers who advertise that they sell at wholesale prices are wholesalers.
A)True
B)False
Q2) Aaron has designed innovative accessories for hard-core bicycling enthusiasts.He knows where and how he will make them,and he needs to turn his attention to getting the products to the customers.As he chooses retail partners,which of the following is least important in this process?
A) looking at the channel structure
B) determining where target customers will expect to find this product
C) considering characteristics of channel members
D) encouraging new bicycling enthusiasts
E) considering distribution intensity
Q3) In omnichannel retailing,what visible element must often be adjusted because of competition faced in different channels?
A) supply chain
B) return policies
C) pricing
D) distribution
E) place
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Page 18
Chapter 18: Integrated Marketing Communications
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Sample
Questions
Q1) In the IMC communication process,the __________ encodes the marketing communication message.
A) instructor
B) sender
C) transmitter
D) communication channel
E) receiver
Q2) Provide an example of how the lagged effect might impact the sales of a newly manufactured vehicle that is advertised in January,but not available until July of the same year.
Q3) What is another name for the AIDA model? Correlate this term to the AIDA steps.
Q4) National manufacturers and retailers often pay a service provider to monitor television ads around the country,to ensure that their ads are shown in their entirety during the time frames that were purchased.This service provider is monitoring for IMC noise problems associated with
A) competing messages.
B) lack of clarity in the message.
C) a poor choice of medium.
D) a flaw in the medium.
E) an extended feedback loop.
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Chapter 19: Advertising,public Relations,and Sales
Promotions
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Sample Questions
Q1) Generally,less money is spent on advertising in B2B markets than in B2C markets because
A) B2B marketing usually involves more personal selling.
B) B2B marketing is too expensive to use advertising.
C) business customers prefer coupons.
D) B2B markets are too homogeneous to use advertising.
E) publicity is the most effective advertising in B2B markets.
Q2) Anne's Pita Bread Chips offers free POP (point-of-purchase)displays to retailers ordering its product.Anne's is using a __________ strategy.
A) pull
B) puffery
C) publicity
D) push
E) posttesting
Q3) Priscilla opened a new financial services office about two years ago.Now she is established and known in her local market.How will her advertising message change?
Q4) Which type of advertising scheduling would you recommend for your university,and why?
Q5) Why is tracking the impact of an advertising campaign challenging?
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Chapter 20: Personal Selling and Sales Management
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Sample Questions
Q1) Good salespeople know the types of reservations buyers are likely to raise.
A)True
B)False
Q2) The four main types of financial rewards for sales representatives are salaries,commissions,bonuses,and sales contests.
A)True
B)False
Q3) Manufacturer's representatives are a firm's senior sales employees.
A)True
B)False
Q4) Why are nonfinancial rewards important?
Q5) Trade shows are a particularly good source of B2B sales leads because A) they are open to the general public.
B) they are almost always sanctioned by the government.
C) people who attend are interested in the products and services being offered.
D) consumers tell retailers which shows to attend.
E) they are an inexpensive way to generate leads.
Q6) Explain the ethical and legal issues that may arise between a salesperson and the customer.
Q7) What is relationship selling?
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