Retail Marketing Exam Solutions
Course Introduction
Retail Marketing explores the principles, strategies, and tactics used by retailers to attract and retain customers in a highly competitive environment. The course covers topics such as retail market segmentation, consumer behavior, store layout and design, merchandise planning, pricing strategies, supply chain management, digital retailing, and the integration of omnichannel approaches. Through case studies and real-world examples, students will learn how retail businesses develop brand positioning, create effective promotional campaigns, and leverage technology to enhance the customer experience and drive sales.
Recommended Textbook
Marketing 4th Canadian Edition by Dhruv Grewal
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18 Chapters
2312 Verified Questions
2312 Flashcards
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Page 2
Chapter 1: Overview of Marketing
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130 Verified Questions
130 Flashcards
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Sample Questions
Q1) Which one of the followings is NOT true about marketing?
A)Marketing help create value
B)Marketing always entails an exchange
C)Marketing is always performed by an organization
D)Marketing is about satisfying customer needs and wants
E)Marketing requires product, price, place and promotion decisions
Answer: C
Q2) A marketing plan is broken down into various components and specifies the marketing activities for a specific period of time.
A)True
B)False
Answer: True
Q3) The four different marketing orientations are:
A)competition, service, resource, and team based.
B)promotion, operations, technology, and profit based.
C)production, sales, market, and value based.
D)price, customer, location, and segment based.
E)innovation, strategy, cost, and customer based.
Answer: C
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Page 3
Chapter 2: Developing Marketing Strategies and a Marketing Plan
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117 Verified Questions
117 Flashcards
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Sample Questions
Q1) Which of the following refers to a division of a company that can be managed somewhat independently from other divisions of the company since it markets a specific set of products to a clearly defined group of customers?
A)Business branch
B)Executive department
C)Executive business segment
D)Subsidiary firm
E)Strategic business unit
Answer: E
Q2) Market development strategy employs the existing marketing mix and focuses the firm's efforts on existing customers.
A)True
B)False
Answer: False
Q3) A company has access to many proprietary technologies.This is an example of the company's strength.
A)True
B)False
Answer: True
Page 4
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Chapter 3: Analyzing the Marketing Environment
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129 Verified Questions
129 Flashcards
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Sample Questions
Q1) A company sells a mattress, which is claimed to promote good health.It also convinces customers to become part of a club where they receive commissions if they get other people to join the club or buy mattresses.This is an example of:
A)bid rigging.
B)bait-and-switch.
C)predatory pricing.
D)referral selling.
E)pyramid selling.
Answer: D
Q2) Canadian national food includes poutine and butter tarts.Canada is the world's largest producer of maple syrup.The music of Canada reflects the many influences that have shaped the country.The official symbols of Canada include the maple leaf and the beaver.Which of the following best exemplifies the given information?
A)Competitive intelligence
B)Country culture
C)Generational cohort
D)Demographics
E)Regional subculture
Answer: B
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5
Chapter 4: Consumer Behaviour
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127 Verified Questions
127 Flashcards
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Sample Questions
Q1) Anna bought a laptop from Cosmo-Z Electronics, Inc.While working one day, the laptop suddenly crashed.Despite Anna's best efforts, she could not reboot it.She made a visit to the service centre, but they refused to check her laptop, saying that they did not have the requisite expertise.The centre also refused to make any alternative arrangements.Anna then decided to post her problems on Facebook to advise people not to buy computers from that company.This postpurchase review is an example of:
A)affective components of attitude.
B)nano-campaigning.
C)limited problem solving.
D)social risk.
E)negative word-of-mouth.
Q2) Explain "attitude" and its three components.Select one brand and explain how each attitude component can influence your decisions and actions.
Q3) To reduce perceived wait times, retailers might install digital displays to entertain customers waiting in line.This is a situational factor that can facilitate purchases.
A)True
B)False
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Chapter 5: Business-To-Business Marketing
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126 Verified Questions
126 Flashcards
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Sample Questions
Q1) The buying centre participant who first suggests buying the particular product or service is called a(n):
A)influencer.
B)decider.
C)initiator.
D)gatekeeper.
E)buyer.
Q2) In the first stage of the business-to-business (B2B)buying process, organizations come up with potential specifications that suppliers might use to develop their proposals.
A)True
B)False
Q3) What are the typical characteristics of products available in business-to-business (B2B)markets?
Q4) John is an initiator, Harry is an influencer, Mary is the buyer, Cecilia is the decider, Sara is a user, and Smith is the gatekeeper.Describe their buying roles in a typical buying centre.
Q5) What is the significance of white papers in B2B markets?
Q6) What is business-to-business (B2B)marketing?
Page 7
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Chapter 6: Segmentation, Targeting, and Positioning
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129 Verified Questions
129 Flashcards
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Sample Questions
Q1) Entrepreneurial startup ventures often benefit from using a differentiated strategy, which allows them to employ their limited resources more efficiently.
A)True
B)False
Q2) From a marketing point of view, self-values help determine the benefits the target market may be looking for from a product.
A)True
B)False
Q3) Makers Shoes often has interesting offers for regular customers.These customers are the first to be informed about a new collection.Also, when shoes are on sale, they receive a newsletter in which they are given the opportunity to be the first to avail themselves of the special discounts available.In this case, the segmentation approach used by the company is:
A)geographic segmentation.
B)benefit segmentation.
C)demographic segmentation.
D)loyalty segmentation.
E)psychographic segmentation.
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8
Chapter 7: Marketing Research
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130 Verified Questions
130 Flashcards
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Sample Questions
Q1) Which of the following involves gathering qualitative data about initial reactions to a new or existing product or service, opinions about different competitive offerings, or reactions to marketing stimuli?
A)Panel research
B)Experimental research
C)Survey groups
D)Scanner research
E)Focus groups
Q2) Reliability is the extent to which a study measures what it is supposed to measure.
A)True
B)False
Q3) Which of the following research methods is informal and exploratory?
A)Experimental research
B)Qualitative research
C)Scanner research
D)Panel research
E)Survey research
Q4) What are the advantages of primary research?
Q5) What is syndicated data?
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Chapter 8: Developing New Products
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) In reality, the product life cycle curve of most products is bell-shaped.
A)True
B)False
Q2) The method of testing that requires potential consumers to examine a product prototype in a real-use setting is known as:
A)conclusive research.
B)beta testing.
C)concept testing.
D)alpha testing.
E)reverse engineering.
Q3) Eric is enthusiastic about online video games.He has extensive knowledge of technical aspects of developing games and usually purchases licensed versions of most games as soon as they are launched.According to the diffusion of innovation model, to which of the following groups of buyers does Eric belong?
A)Early adopters
B)Early majority
C)Lead users
D)Innovators
E)Late majority
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Page 10
Chapter 9: Product, Branding, and Packaging Decisions
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) Explain how firms can change product line depth with one example.
Q2) Which of the following refers to the use of the same brand name for new products being introduced to the same or new markets?
A)Brand positioning
B)Brand equity
C)Brand licensing
D)Brand extension
E)Brand dilution
Q3) Plognas Inc.and Naslog Inc.are manufacturers of diapers.Gita, a likely consumer, relates to Plognas as an adult diaper brand, whereas she relates to Naslog as a kids diaper brand.These associations made by Gita with the manufacturers indicate:
A)brand dilution.
B)brand extension.
C)brand loyalty.
D)brand personality.
E)brand licensing.
Q4) Explain why packaging is important for retailers.Provide examples to support your answer.
Q5) Explain the concept of generic brands.
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Chapter 10: Services: The Intangible Product
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129 Verified Questions
129 Flashcards
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Sample Questions
Q1) Jennifer, who works as a dietician at a gym, checks with customers regarding their food habits and preferences before planning a specific diet chart for them.This specific understanding of the customers' expectations will help her in reducing primarily the: A)delivery gap.
B)zone of tolerance.
C)standards gap.
D)consistency gap.
E)knowledge gap.
Q2) By being more realistic about the services they can provide and by managing customer expectations effectively, firms can reduce the: A)zone of tolerance.
B)knowledge gap.
C)standards gap.
D)delivery gap.
E)communication gap.
Q3) Employee empowerment is an ineffective way to reduce the delivery gap. A)True
B)False
Q4) What is the knowledge gap? How can it be reduced? Provide one example.
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Chapter 11: Pricing Concepts and Strategies: Establishing Value
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128 Verified Questions
128 Flashcards
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Sample Questions
Q1) A company specializing in bathroom fittings offers state-of-the-art products.The products are highly priced, and the company is aware that sales will be limited.The main objective is to enhance its reputation and image and thereby increase the company's value in the minds of consumers.This is an example of:
A)sales orientation.
B)customer orientation.
C)profit orientation.
D)cost orientation.
E)competitor orientation.
Q2) A strategy companies use to emphasize the continuity of their retail prices at a level somewhere between the regular, nonsale price and the deep-discount sale prices their competitors may offer is called:
A)everyday low pricing.
B)external reference price.
C)high/low pricing.
D)market penetration pricing.
E)price skimming.
Q3) Explain the drawbacks associated with the market penetration strategy.
Q4) Briefly explain reference price and external reference price.
Page 13
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Chapter 12: Distribution Channels
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) Which of the following strategies is designed to get products into as many outlets as possible?
A)Territorial distribution
B)Exclusive distribution
C)Intensive distribution
D)Expansive distribution
E)Selective distribution
Q2) Jacob visits Dell's website and places an online order for a personal computer.Jacob belongs to:
A)business segment 1.
B)business segment 2.
C)the sales force.
D)consumer segment 1.
E)consumer segment 2.
Q3) Which of the following tools is commonly used in a pull strategy?
A)Product bundling
B)Green marketing
C)Vertical marketing
D)Print advertising
E)Personal selling
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Chapter 13: Retailing and Omni-Channel Marketing
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) Maplewoods sets up interactive kiosks in malls.Which of the following statements is most indicative of this strategy?
A)It aims to offer a narrow selection of inventories.
B)It aims to convince customers desiring out-of-stock products to switch to other products.
C)It wants customers to have a tactile experience of the merchandise.
D)It prefers to offer an immediate satisfaction of making a purchase.
E)It wishes to encourage brand preference through prizes.
Q2) Which of the following retail channels both helps retailers save a sale if an item is out of stock and allows retailers to overcome resource constraints by freeing up sales associates?
A)Stores
B)The Internet
C)Kiosks
D)Catalogues
E)Mail order
Q3) Explain the Wheel of Retailing with an example.
Q4) How can multichannel retailers use the electronic channel to increase their share of wallet? Provide one example.
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Chapter 14: Integrated Marketing Communications
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133 Verified Questions
133 Flashcards
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Sample Questions
Q1) Heads International, a manufacturer of helmets, made an advertisement featuring its products.After the ad has run its course, the company tries to understand how the ad influenced customer perceptions and whether it generated awareness.It also tests whether any purchasing actions have been stimulated by the advertisement.This is an example of:
A)tracking.
B)impressions.
C)pretesting.
D)pulsing.
E)post-testing.
Q2) Explain the different types of advertising schedules used by companies for the advertisement of their products.
Q3) If Bell Canada run 12 TV ads during the CFL Final which has a rating of 8.8, what would be the gross rating points?
Q4) The firm from which an IMC message originates is called the transmitter of the message.
A)True
B)False
Q5) Explain the concept of gross rating points.
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Chapter 15: Advertising, Sales Promotions, and Personal Selling
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128 Verified Questions
128 Flashcards
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Sample Questions
Q1) Shopper Corporation gives membership cards to customers that can be used to earn value points every time they shop at a Shopper outlet.This membership card allows its customers to make multiple purchases over time.The membership card is an example of a:
A)loyalty program.
B)sweepstake.
C)markup.
D)contest.
E)rebate offer.
Q2) Explain the use of coupons in promotion with an example.
Q3) Encouraging repurchase is the major objective of loyalty programs.
A)True
B)False
Q4) To evaluate a trade promotion, retailers consider all the following EXCEPT:
A)Margin from the promotion
B)Short-term impact on sales of the promotion
C)Additional sales made to customers attracted to the store by the promotion
D)The potential increase in sales from the promoted merchandise
E)The potential sales made to customers attracted to the store by the promotion
Q5) What is product placement? Provide one example.
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Chapter 16: Social and Mobile Marketing
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) Which of the following is primarily a professional networking site?
A)YouTube
B)Facebook
C)Instagram
D)Pinterest
E)LinkedIn
Q2) Discuss the role of LinkedIn as a marketing platform.
Q3) Which of the following media options should Liz make use of to advertise the launch of her bookstore to a large number of people irrespective of the expense?
A)Picasa
B)Corporate blog
C)LinkedIn
D)TV commercials
E)Local newspaper
Q4) The total number of requests for a web page is called:
A)hits.
B)page views.
C)social reach.
D)bounce rate.
E)relevancy factor.
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Chapter 17: Global Marketing
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) The major challenge in developing a global communication strategy is identifying the elements that need to be adapted to be effective in the global marketplace.
A)True
B)False
Q2) Which of the following market entry strategies requires the least financial risk but also allows for only a limited return to the firm?
A)Strategic alliance
B)Direct investment
C)Joint venture
D)Exporting
E)Franchising
Q3) Argentina, Brazil, Paraguay, Uruguay, and Venezuela are members of which trading bloc?
A)The NAFTA
B)The CAFTA
C)The EU
D)The ASEAN
E)Mercosur
Q4) What is purchasing power parity? Provide one example.
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Chapter 18: Ethics and Socially Responsible Marketing
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125 Verified Questions
125 Flashcards
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Sample Questions
Q1) An audit conducted at Jason University revealed wasteful spending of $8,590 on hotel rents, banquets, and dining at luxury hotels.Following this, the university president was fired and fewer government contributions were made to many of the school's funds.Staff members who were disturbed by this crisis chose to leave the university.This example illustrates:
A)how universities are as corrupt as corporate companies.
B)the lack of cooperation among the board of trustees.
C)the interdependence of responsibilities for ethical decision making.
D)how the parties involved failed to identify issues.
E)the lack of information needed to make ethical decisions.
Q2) During ethical decision making, the objective of choosing a course of action is to weigh the various alternatives in order to generate the best solution for the stakeholders.
A)True
B)False
Q3) When companies embrace corporate social responsibility, their appeal is limited to their shareholders.
A)True
B)False
Q4) How can a company improve its reputation for corporate social responsibility?
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