Retail Marketing Practice Questions
Course Introduction
Retail Marketing explores the dynamic environment of retailing and the strategies businesses use to attract and retain customers in todays competitive marketplace. The course covers essential topics such as consumer behavior, retail market segmentation, site selection, merchandise management, pricing, promotion, and the integration of traditional and digital retailing channels. Students will analyze real-world case studies, develop marketing plans, and examine the impact of technology and omnichannel strategies on the retail landscape, preparing them for careers in retail management, merchandising, and marketing.
Recommended Textbook
Retailing Management 4th Canadian Edition by Michael Levy
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15 Chapters
1641 Verified Questions
1641 Flashcards
Source URL: https://quizplus.com/study-set/3118
Page 2
Chapter 1: Introduction to the World of Retailing
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80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/61817
Sample Questions
Q1) A retailer's role in the distribution channel is to:
A) act as the liaison between manufacturers and wholesalers
B) buy merchandise exclusively from the manufacturers
C) negotiate with consumers through a series of focus groups
D) satisfy the needs of the consumers
E) sell to wholesalers
Answer: D
Q2) What is the retailer's role in the distribution channel?
Answer: The retailer's role in the distribution channel is to link manufacturers to consumers by directing their efforts to satisfying the needs of the ultimate consumers.
Q3) Best Buy purchases many of the CDs,PlayStation 2 games,DVDs and DVD players by the truckload,then sells them in smaller quantities to its stores where consumers are allowed to buy them one at a time.What business function is Best Buy performing?
Answer: Breaking bulk
Q4) Scrambled merchandising increases _______ which occurs between retailers that sell similar merchandise using different formats,such as discount and department stores.
Answer: intertype competition
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Chapter 2: Types of Retailers
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104 Verified Questions
104 Flashcards
Source URL: https://quizplus.com/quiz/61810
Sample Questions
Q1) Mark's Work Wearhouse (clothing retailer)carries sizes for small,average,and big men,but all sizes are not available in all their stores.What should Mark's do to communicate this message to their customers?
A) They should advertise big men's merchandise on all of their newspaper supplements and commercials
B) They should train their sales associates to mention this when closing sales with each customer
C) A database should be developed of those who purchase merchandise for big men and then Mark's should market specifically to those shoppers
D) Mark's should actively advertise these assortments to competitors
E) Mark's should advertise this by featuring big men on their Holiday Catalogue
Answer: C
Q2) What do Weight Watchers,Merrill Lynch,Federal Express,and U-Haul have in common?
Answer: They are all examples of services retailers.
Q3) Why do category specialists call themselves "category killers"?
Answer: By offering a complete assortment in a category at low prices,category specialists can "kill" a category of merchandise for other retailers.
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Chapter 3: Customer Buying Behaviour
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60 Verified Questions
60 Flashcards
Source URL: https://quizplus.com/quiz/61809
Sample Questions
Q1) Which of the following is an example of a subculture in Canada?
A) Asians
B) Westerners
C) Acadians
D) Chinese
E) All of these
Answer: E
Q2) Why do retailers use composite segmentation?
A) Benefit segmentation does not identify the customers' needs.
B) Geographic segmentation creates an unmanageable retail market.
C) Demographic segmentation identifies customers but not their needs.
D) Demographic segmentation makes it impossible to attract people who do not fit into the demographic categories used.
E) Benefit segmentation requires the application of complex statistical forecasting.
Answer: C
Q3) A(n)________________ is one or more persons who use feelings or behaviours as a basis of comparison for beliefs.
Answer: reference group
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Chapter 4: Retail Market Strategy
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120 Verified Questions
120 Flashcards
Source URL: https://quizplus.com/quiz/61808
Sample Questions
Q1) Which type of retail growth strategy is most closely associated to cross-selling?
A) market penetration
B) diversification
C) retail format development
D) market depletion
E) market divestment
Q2) Which of the following provides the direction that the retailer plans to take to deal effectively with environmental factors?
A) marketing objective
B) merchandise budget plan
C) mission statement
D) organizational structure
E) retail strategy
Q3) Why are retailers more likely to be successful with the market penetration opportunities than with any other growth opportunity?
Q4) What can retailers gain by developing strong relationships with vendors?
Q5) A/an ____________ is the retailer's mix including product,merchandise and services,pricing,advertising,people and processes.
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Chapter 5: Retail Locations Strategytrade Area Decisions and
Site Assessment
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160 Verified Questions
160 Flashcards
Source URL: https://quizplus.com/quiz/61807
Sample Questions
Q1) Sherry is an armchair tourist inhibited from the real thing by a lousy job,but she makes up for it by indulging in foreign films.This Friday,she plans to drive into the city,about 20 kilometres away,to check out a shop specializing in foreign films.To Sherry,this shop is a:
A) symbiotic store
B) magnet store
C) primary zone store
D) shopping goods store
E) destination store
Q2) What are some of the factors that define a trade area?
Q3) What type of shopping centre is composed of upscale apparel shops,boutiques,and gift shops carrying selected fashions or unique merchandise of high quality and price?
Q4) A high level of employment usually means higher:
A) competition
B) managerial control
C) purchasing power
D) taxes
E) retail saturation
Q5) ______________ is an extreme approach to revitalizing a mall.
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Chapter 6: Store Design, layout, and Visual Merchandising Strategy
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107 Verified Questions
107 Flashcards
Source URL: https://quizplus.com/quiz/61806
Sample Questions
Q1) _____________ is used when retailers offer a limited number of predetermined price points within a classification.
A) Flexible pricing
B) Price lining
C) Price presentation
D) Competitive pricing
E) Price limiting
Q2) To design a good store layout,store managers must:
A) create a store layout that entices customers to purchase more than they had originally planned
B) create an even division between storage space and selling space
C) consider how the store layout will photograph for ads
D) never exceed his or her budget
E) model the store design on its competitors so customers can recognize the layout
Q3) ____________,more than any other sense,is a straight line to feelings of happiness,hunger,disgust,and nostalgia.
Q4) What is the primary purpose of fixtures?
Q5) Name six examples of feature areas in a store.
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Chapter 7: International Retailing Strategy
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43 Verified Questions
43 Flashcards
Source URL: https://quizplus.com/quiz/61805
Sample Questions
Q1) Which of the following would discourage retailers from entering foreign markets?
A) Trade agreements (e.g. NAFTA)
B) Aggressive competition
C) Younger populations
D) Growing numbers of middle-class consumers
E) Favourable operating costs
Q2) The market entry strategy which offers the lowest risk as per the text is
Q3) What is a globally sustainable competitive advantage?
Q4) The greatest retail density and concentration of large retail firms is in:
A) The USA
B) Canada
C) The UK
D) France
E) Japan
Q5) What is an advantage of foreign market direct investment to Canadian retailers? What is a disadvantage of this method?
Q6) What foreign market entry methods are available to retailers when expanding?
Q7) What are some factors which would encourage retailers to enter the international marketplace?
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Chapter 8: Financial Strategy
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109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/61804
Sample Questions
Q1) Name one example of an accrued liability.
Q2) Inventory turnover:
A) is calculated by dividing accounts receivable by net sales
B) equals total assets minus current assets divided by average inventory
C) is calculated by dividing net profit by average retail inventory
D) equals net sales minus cost of goods sold divided by average turnover
E) is none of these
Q3) When Charlotte is calculating the current assets for her t-shirt shop in Charlottetown,she needs to remember to include her:
A) accounts receivable
B) accrued liabilities
C) fixed assets
D) notes receivable
E) retained earnings
Q4) Differentiate between gross margin and net profit margin in terms of their usefulness to an organization owner/investor.
Q5) In 2008,Claudia's Gems had net sales of $220,000,a cost of goods sold of $69,000,expenses of $82,000,and net profit after taxes of $29,000.Calculate the store's net profit margin.
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Chapter 9: Information Systems and Supply Chain Management
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105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/61803
Sample Questions
Q1) Which of the following DOES NOT describe why an efficient supply chain is so important to retailers?
A) improved product availability
B) higher return on investment
C) a strategic advantage
D) trendier merchandise
E) improved in-stock position
Q2) Which of the following is the integration of business processes from end user through original suppliers that provides products,services,and information that add value for customers?
A) Logistics
B) Supply chain management
C) Total quality management
D) Electronic data interchange (EDI)
E) Materials handling
Q3) What is a computer-to-computer exchange of business documents from retailer to vendor and back?
Q4) What are the benefits of a QR system?
Q6) What is logistics? Page 11
Q5) What are two benefits of having an efficient supply chain?
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Chapter 10: Merchandise Management
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79 Verified Questions
79 Flashcards
Source URL: https://quizplus.com/quiz/61816
Sample Questions
Q1) The producers of the Spiderman movies hoped that merchandise made with the superhero would have a period of great popularity.But they also realized that such merchandise would not be popular for long because they are:
A) styles
B) fashions
C) fads
D) staples
E) cycles
Q2) Which of the following is defined as the percentage of demand for a particular SKU that is satisfied?
A) Assortment
B) Economic order quantity
C) Merchandise mix
D) Product availability
E) Variety
Q3) What is a category life cycle?
Q4) _______________ is the number of different merchandising categories within a store or department.
Q5) How does top management set the merchandising direction for the retail company?
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Chapter 11: Buying Strategies
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111 Verified Questions
111 Flashcards
Source URL: https://quizplus.com/quiz/61815
Sample Questions
Q1) What is an exchange that is operated for the exclusive use of a single firm called? Why is it used?
Q2) Mark's Work Wearhouse features Denver Hayes jeans which are high quality denim that washes and wears as well as or better than many of the leading national brands of jeans,yet are lower-priced.Which of the following best describes this type of private-labelling?
A) Promotional branding
B) Premium branding
C) Exclusive branding
D) Bargain branding
E) Comparison branding
Q3) What benefits does a retailer receive from buying from vendors of manufacturer brands?
Q4) What are the four foundations of a successful strategic relationship?
Q5) With many retailers successfully selling their brands,why have some manufacturers chosen to become retailers?
Q6) How can the retail exchange function of collaboration be useful in the fashion industry?
Q7) Describe resident buying offices and their activities.
Page 14
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Chapter 12: Retail Pricing
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131 Verified Questions
131 Flashcards
Source URL: https://quizplus.com/quiz/181989
Sample Questions
Q1) Anne Marie made an effort to stop into the Irving convenience store on her way home each Friday to pick up a gallon of milk,because it was priced lower than the local Walmart.In this case,the milk is an example of Irving's use of:
A) stimulus pricing
B) leader pricing
C) follow-up pricing
D) price lining
E) none of these
Q2) __________________ are given to customers when merchandise is out of stock; they are written promises to sell customers merchandise at the sale price when the merchandise arrives.
Q3) What is value?
Q4) ___________________ is the amount of profit a retailer plans to maintain on a particular category of merchandise.
Q5) What are the strengths of operating with a high/low pricing strategy?
Q6) Search engines or ________________________ are computer programs that search for and provide a list of all Internet sites selling a product category or price of specific brands offered.
Q7) What are the ways marked-down merchandise can be consolidated?
Page 15
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Chapter 13: Human Resource Management and Staff Training Issues
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151 Verified Questions
151 Flashcards
Source URL: https://quizplus.com/quiz/61813
Sample Questions
Q1) What are the three human resource management activities that build commitment through developing partnering relationships with employees?
Q2) The turnover for a security position at the local department store was high,and the department managers were beginning to complain to Gina,the store manager.There was no lack of applications,and the pay was comparable to other stores,yet those who took the position stayed no longer than a week.Exit interviews revealed that employees felt the job's responsibilities were not what they expected.Which of the following would you suggest Gina do to reduce the turnover?
A) Accept more applications by reducing the standards
B) Insist that each applicant takes a drug test within 48 hours of applying
C) Show a video about the responsibilities of the job
D) Check references
E) Ask if they have plans to stay at the job during the interview
Q3) The most effective tool against shoplifting can be:
A) well-trained employees
B) low-priced merchandise
C) better relationships with local law enforcement agencies
D) embedded dye capsules
E) convex mirrors at key locations
Page 16
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Chapter 14: Building Customer Loyalty: Customer
Relationship Management and Service Strategies
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185 Verified Questions
185 Flashcards
Source URL: https://quizplus.com/quiz/61812
Sample Questions
Q1) When retailers provide unexpected services,they build a high level of customer satisfaction called ______________.
Q2) What is wrong with the 80-20 scheme?
A) It is too broad to segment customers in this way
B) Customers who are labelled could change and future advertising misses them
C) It does not consider the differences among the 80 percent in the "rest" segment
D) It does not consider the differences between 80 percent and the 20 percent
E) It does not break down the variables within the remaining 20 percent
Q3) In the past,retailers used mass media advertising and price promotions to all customers.Now,they are beginning to provide more value to their best customers using targeted promotions and services to increase their:
A) community share
B) customer share
C) customer base
D) share of mind
E) share of wallet
Q4) What is customer loyalty to a retailer?
Q5) What is the most critical step in providing good customer service?
Page 17
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Chapter 15: Appealing to the Customer: Retail Communication Mix
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96 Verified Questions
96 Flashcards
Source URL: https://quizplus.com/quiz/61811
Sample Questions
Q1) How can brands benefit the consumer?
Q2) Which of the following is not true about co-op advertising?
A) A conflict in goals between a retailer and vendor can reduce the effectiveness of co-op ads.
B) Co-op ads is a promotional program that sees a vendor and retailer working together.
C) Co-op rates paid to retailers are established by strict government regulations.
D) The vendor pays for part of the retailer's ad - but dictates some conditions.
E) Co-op ads tend to blur the distinction between retailers.
Q3) A measure used to compare the value of advertising media is ________________.
Q4) QR codes are:
A) Quality restrictions placed on exporters of goods originating in third world countries
B) Imbedded in smart phones and works in tandem with RFID and CSIS technologies
C) Intended to be scanned by in store security to reduce employee theft
D) Quantity revisions sent by head office to reduce inventory gaps occurring on "fad" type merchandise
E) Intended to be scanned by the camera on a mobile phone, providing for fast transfer of information
Page 18
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