Retail Marketing
Midterm Exam
Course Introduction
Retail Marketing explores the principles and strategies used to attract and retain customers in the dynamic retail sector. This course covers topics such as consumer behavior, retail market segmentation, store layout and design, merchandising, pricing strategies, omnichannel retailing, and the impact of digital technologies on retail practices. Students will analyze emerging trends, study successful retail brands, and develop marketing plans that cater to todays informed and digitally connected shoppers. By the end of the course, participants will be equipped to create effective marketing strategies that drive sales and enhance the overall customer experience in a competitive retail environment.
Recommended Textbook Essentials of Services Marketing 3rd Edition by Jochen Wirtz
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15 Chapters
639 Verified Questions
639 Flashcards
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Chapter 1: Introduction to Services Marketing
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Sample Questions
Q1) The service framework for developing effective service strategies excludes _________________.
A)understanding service products, consumers and markets
B)managing the competitive landscape
C)applying the 4 Ps of marketing to services
D)designing and managing the customer interface
E)developing customer relationships
Answer: B
Q2) The service-profit chain includes collaboration between marketing, operations, IT and HR
A)True
B)False
Answer: True
Q3) Give an example of an industry where production and consumption are separable. Answer: Dry cleaning, lawn mowing, weather forecasting, etc.
Q4) Airbnb is an example of peer-to-peer service.
A)True
B)False
Answer: True
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Chapter 2: Customer Behavior in a Services Context
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Sample Questions
Q1) Describe how the three-stage model of service consumption could explain consumer behavior in a low-contact service like investing.
Answer: The three-stage model of service consumption begins with the pre-purchase stage where consumers become aware of a need. Also in this stage is information search, where needs are clarified, possibly through surfing the Web and making phone calls. In the case of an investing service this might involve reading the Web site information for various Web sites like eTrades or Schwab. Evaluating alternatives is also in this stage. In the investment scenario, this might involve more Web site analysis, phone calls and e-mail with account representatives. The second stage is the service encounter stage. Here, service is requested from the supplier, in this case via e-mail or Web site transaction. The final stage is the post-encounter stage. Here the investor determines how well the firm performed over a period of time and makes a determination about future transactions with the firm.
Q2) How does SERVQUAL measure service quality?
Answer: SERVQUAL measures service quality along the five dimensions of tangibles, reliability, responsiveness, assurance, and empathy.
Q3) Give an example of a restaurant's credence attribute.
Answer: Kitchen hygiene.
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4
Chapter 3: Positioning Services in Competitive Markets
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Sample Questions
Q1) A target segment should only be selected on the basis of their sales and profit potential.
A)True
B)False
Answer: False
Q2) An example of a determinant attribute for an airline service is ____________.
A)The quality of in-flight service
B)plane size
C)oxygen masks
D)floatation devices
Answer: A
Q3) Rentokil started off as a firm that manufactured rat poison and a pesticide for killing leeches.
A)True
B)False
Answer: False
Q4) What are the three Cs to analyze when developing a market positioning strategy?
Answer: Customer, competitor, company.
Q5) What are the characteristics of an unfocused service category?
Answer: Serving broad markets and providing a wide range of services.
Page 5
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Chapter 4: Developing Service Products Core and Supplementary Elements
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Sample Questions
Q1) Explain where Sun Microsystems falls on the spectrum of branding alternatives and discuss what their strategy involves.
Q2) New service categories include ____________.
A)style changes
B)line extensions
C)process innovations
D)service branding
E)service innovations
Q3) Which of the following is an example of a special request in advance of service delivery?
A)Dietary requirements
B)Complaints
C)Warranties
D)Refunds
E)Suggestions
Q4) Core products are surrounded by supplementary elements from each of the eight clusters of supplementary services.
A)True
B)False
Page 6
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Chapter 5: Distributing Service through Physical and Electronic Channels
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Sample Questions
Q1) Starwood Hotels & Resorts has global sales offices around the world to manage relationships with key global accounts.
A)True
B)False
Q2) ______________ is an example of a service that has become global within a few years .
A)FedEx
B)Starbucks
C)DHL
D)Airbnb
E)Dunkin' Donuts
Q3) Which of the following is an example of a franchised service firm?
A)Subway
B)Royal Sporting House
C)Barnes & Noble
D)Tiffany
E)Pier One Imports
Q4) How does Emirates Airline use different channels for varying customer groups?
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Q5) Describe the three ways information-based services can be distributed internationally and give an example of each.
Chapter 6: Setting Prices and Implementing Revenue Management
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Sample Questions
Q1) Revenue management practices that help build customers' fairness perceptions include ____________.
A)designing clear and logical prices
B)using high publishes prices
C)frame fences as discounts
D)"hiding" discounts through bundling
E)All of the above
Q2) Describe how rate fences should be used in a hair salon service.
Q3) What different forms of payment methods are can customer use other than cash?
A) Credit or debit card
B) App-based payment
C) Touch ID
D) All of the above
Q4) Price elasticity is computed as ____________.
A)percentage change in demand / percentage change in price
B)percentage change in price / percentage change in demand
C)percentage change in supply / percentage change in price
D)percentage change in demand / percentage change in supply
E)percentage change in price / percentage change in supply
8
Q5) Under what situations can price competitions be reduced?
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Chapter 7: Promoting Services and Educating Customers
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Sample Questions
Q1) An effective communication strategy does NOT consider which of the following?
A)Prospective buyer
B)Consumer's media habits
C)Employee preference
D)Content, structure and style of message
Q2) Non-personal mass media tend to be effective in creating awareness and positioning the service.
A)True
B)False
Q3) The timing of communication is typically managed with the help of a media plan.
A)True
B)False
Q4) List an advertising strategy used to overcome non-searchability aspects of a service.
Q5) In order to manage service encounter, services communication tries to ____________.
A)build awareness
B)manage customer satisfaction
C)develop liking
D)familiarize customers with the service process in advance
Page 9
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Chapter 8: Designing and Managing Service Processes
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Sample Questions
Q1) A drawback of service blueprints is that they cannot give managers the opportunity to identify potential fail points in the process where there is a significant risk of things going wrong and diminishing service quality
A)True
B)False
Q2) How can firms prevent customer failures?
Q3) Which of the following is NOT a key component of a service blueprint?
A)Line of transference
B)Line of interaction
C)Line of visibility
D)Backstage actions by customer contact personnel
E)Front-stage actions by customer contact personnel
Q4) When a rental car customer is not interested in filling out paperwork or processing payment and check of the rental car, this is an example of which service process redesign?
Q5) Blueprints can pinpoint the stages in the process where customers commonly have to wait.
A)True
B)False
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Chapter 9: Balancing Demand against Productive Capacity
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Q1) Which of the following is NOT one of the five basic approaches to managing demand?
A)Taking no action and leaving demand to find its own levels.
B)Reduce demand in peak periods.
C)Increase demand when there is excess capacity.
D)Inventory capacity until demand increases.
E)Inventory demand by creating a formalized queuing system.
Q2) Which of the following is NOT one of the conditions that fixed-capacity firms may face?
A)Excess capacity.
B)Demand exceeds desired capacity.
C)Demand and supply are well-balanced.
D)Ideal demand exceeds capacity.
E)Excess demand.
Q3) When a firm wants to inventory demand via a reservation system and has insufficient capacity it should lower prices selectively.
A)True
B)False
Q4) Describe four of the ten propositions on the psychology of waiting lines.
Q5) List the six actions managers can take to adjust capacity as needed.
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Chapter 10: Crafting the Service Environment
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Sample Questions
Q1) Staff acting as Cinderella or the seven dwarfs at Disney theme parks are part of the service environment.
A)True
B)False
Q2) Describe the design flaws of the Jordan Sheraton Hotel.
Q3) In environmental psychology the typical outcome variable is ____________ or ____________ of an environment.
A)service; repurchase
B)control; reproach
C)control; avoidance
D)control; sensibility
E)approach; avoidance
Q4) Ambient conditions refer to those characteristics of the environment pertaining to our five senses.
A)True B)False
Q5) Describe how Spain's Guggenheim Museum in Bilbao designs its servicescape to attract visitors.
Q6) What are the three stages of the Mehrabian-Russell Stimulus-Response Model?
Page 12
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Chapter 11: Managing People for Service Advantage
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Sample Questions
Q1) What qualities should effective leaders have in service organizations?
Q2) Employees should be trained in all these areas EXCEPT ____________.
A)organizational culture
B)organizational revenue
C)service knowledge
D)interpersonal skills
E)product knowledge
Q3) Companies that engage in a "Cycle of Success" are more likely to have which of the following?
A)Happier employees
B)More loyal customers
C)Higher profit margins
D)Better wages
E)All of the above
Q4) The Service-Profit Chain needs ____________ to achieve service excellence and customer loyalty.
A)An excellent service process
B)Customer focus
C)High-performing, satisfied employees
D)Profit focus at the leadership
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Chapter 12: Managing Relationships and Building Loyalty
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Sample Questions
Q1) Give an example of a firm discussed in the chapter that successfully built a strategy on serving customer segments that were neglected by established players that didn't perceive them as sufficiently "valuable."
Q2) Vanguard's success is measured by which of the following?
A)Low redemption rates
B)High redemption rates
C)Low customer turnover
D)High customer turnover
E)Portfolio stability
Q3) Capital One 360 could be called the fast-food model of consumer banking because it is about as no-frills as it gets.
A)True
B)False
Q4) Describe how Vanguard Group keeps its costs down to attract the right type of customers.
Q5) Zero defection refers to when a company can retain all customers it can serve, profitably or not profitably.
A)True
B)False
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Chapter 13: Complaint Handling and Service Recovery
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Sample Questions
Q1) Effective service recovery procedures should be ____________, ____________, ____________, and ____________.
A)proactive, engaged, universal, empowered
B)planned, engaged, universal, trained
C)proactive, planned, trained, empowered
D)trained, engaged, flexible, spontaneous
E)trained, engaged, universal, empowered
Q2) Complaining behavior can be influenced by role perceptions and social norms.
A)True
B)False
Q3) People in lower socioeconomic levels are more likely to complain than those in higher levels.
A)True
B)False
Q4) Explain what is meant by a "combined guarantee."
Q5) Give an example of a full-satisfaction guarantee.
Q6) Explain what is meant by "the service recovery paradox."
Q7) How function does a service guarantee serve for firms?
Page 15
Q8) Discuss the perceived advantages of Hampton Inn's 100 percent satisfaction guarantee.
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Chapter 14: Improving Service Quality and Productivity
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Sample Questions
Q1) Give an example of biometric test usage in a service environment.
Q2) List the four ways to improve service productivity.
Q3) Which of the following is the best example of the source of a delayed flight caused by front-stage personnel?
A)Air traffic
B)Late food service
C)Late fuel
D)Gate agents cannot process passengers quickly enough
E)Poor announcement of departures
Q4) Some marketing strategies for customer satisfaction can prove to be costly and disruptive.
A)True
B)False
Q5) Discuss the advantages of using a customer's physical characteristics to increase productivity in the delivery of service quality.
Q6) Discuss what could be involved in the prescription for "The Delivery Gap."
Q7) What is the collection of customer feedback tools that a firm can use?
Q8) Explain what SERVQUAL is and how it is used in services.
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Q9) Describe one of the primary components of the prescription for the policy gap.
Chapter 15: Building a World-Class Service Organization
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Sample Questions
Q1) Market losers meet some quality expectations.
A)True
B)False
Q2) Does customer satisfaction have any long-term level impact on service organizations?
Q3) Service excellence is often underpinned by effective use of teams.
A)True
B)False
Q4) For service leaders, the function of human resources is to coach and facilitate the workers.
A)True
B)False
Q5) Senior executives see the quality of their employees as a strategic advantage.
A)True
B)False
Q6) Which of the following is NOT a service performance level?
A)Service losers
B)Service non-entities
C)Service professionals
D)Service providers
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