Retailing in Canada Exam Review
Course Introduction
Retailing in Canada offers an in-depth exploration of the Canadian retail landscape, analyzing the structure, dynamics, and challenges unique to this sector. The course covers key topics such as retail formats, store operations, merchandising strategies, consumer behaviour, and the impact of technology and e-commerce on traditional and digital retail channels. Emphasis is placed on understanding Canadian consumer trends, legal and regulatory considerations, supply chain logistics, and the influence of geography and cultural diversity on retail practices. Through real-world case studies and current market examples, students gain practical insights into successful strategies used by Canadian retailers to compete and innovate in a rapidly evolving marketplace.
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) When developing the _________________ for his new salon,George decided to obtain a long-term competitive advantage over other salons by offering longer hours,better prices,a well trained staff and half-price perm day every Thursday to attract customers.
A) selling concept
B) business cycle
C) retail strategy
D) focal point orientation
E) marketing concept
Answer: C
Q2) Prior Snowboards located in Whistler,B.C.manufactures many of the snowboards it sells in its retail outlet at its own factory in Canada.Prior Snowboards is practicing:
A)demographic marketing
B)globalization
C)product-related marketing
D)vertical integration
E)wholesaling
Answer: D
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Page 3
Chapter 2: Types of Retailers
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) What are some of the primary reasons why a traditional retailer would evolve into a multichannel retailer?
Answer: Several reasons include: The Internet gives them an opportunity to reach new markets; they can leverage their skills and assets to grow revenues and profits; an e-tail site overcomes some limitations of their traditional formats; an e-tailing site enables retailers to gain valuable insights into their customers' shopping behaviour; they have an opportunity for increasing their "share of wallet."
Q2) Depth of merchandise is often referred to as the:
A) variety
B) complete retail offering
C) number of items within each product line
D) object of the buy
E) retail mix
Answer: C
Q3) What are three issues retailers face when they want to integrate across multiple channels?
Answer: Centralized customer database,consistent brand image,merchandise assortment and pricing.
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4
Chapter 3: Customer Buying Behaviour
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60 Verified Questions
60 Flashcards
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Sample Questions
Q1) The Sleep Store sells mattresses,pillows,sound machines,and any other item that could enhance a customer's sleep.The store is popular because many people are unable to enjoy a full night's sleep,and Sleep Store offers products that promise comfortable sleep.The Sleep Store therefore uses _____ segmentation.
A) benefit sought
B) demographic
C) geographic
D) lifestyle
E) usage
Answer: A
Q2) Which of the following is not a criterion for evaluating retail market segments?
A) accessibility
B) actionability
C) religion
D) size
E) identifiability
Answer: C
Q3) Culture is the meaning and values shared by most members of a(n)__________.
Answer: society
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Page 5
Chapter 4: Retail Market Strategy
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) Which of the following can be considered a barrier to entry in a market?
A) A maturing market
B) Bad customer service
C) Few competitors
D) Good economic conditions
E) No available good locations
Q2) The intensity of competitive rivalry in a retail market can be determined by:
A) counting the number of competitors
B) noting the relative size of the competitors
C) examining the market growth rate
D) learning if competitors have high fixed costs
E) doing any or all of these
Q3) A management orientation that focuses a retailer on determining its target market's needs and satisfying those needs more effectively than its competitors is called:
A) the retail mix
B) the retailing concept
C) a merchandise assortment plan
D) a management style
E) the communication management
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Page 6
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) A geographic area encompassing most of the customers who would patronize a specific retail site and that accounts for the majority of a store's sales and customers is called a:
A) CMA
B) region
C) site
D) target market
E) trade area
Q2) A high level of employment usually means higher:
A) competition
B) managerial control
C) purchasing power
D) taxes
E) retail saturation
Q3) Which of the approaches to determining the retail potential of a trade area uses a statistical model that predicts sales at existing store locations?
Q4) Why have airports become popular with national retail chains?
Q5) ___________________ is probably the most important decision made by a retailer.
Q6) What are three methods of estimating demand for a new store? Page 7
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Page 8
Chapter 6: Store Design, layout, and Visual Merchandising Strategy
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) When Herman entered the department store,the first thing he noticed was a marbleized path that led him to the various departments.Each of the departments had specials placed so as to draw him into the department.He recognized a ________ store layout.
A) free-form
B) random
C) grid
D) racetrack
E) boutique
Q2) Imagine you are the manager of a Walmart store.Which of the following types of merchandise would be most likely to produce the highest sales per square metre/foot?
A) Pet supplies
B) Modular furniture
C) Gardening supplies
D) Electronic equipment
E) Over-the-counter drugs
Q3) What are the four issues store planners must consider when presenting merchandise to the customer?
Q4) What is an impulse product?
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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) North America's largest shopping mall is ___________________________.
Q2) A characteristic of retailers which have successfully exploited international growth opportunities is:
A) adaptability
B) large staff
C) government connections
D) risk-taking
E) diversification
Q3) Which of the following countries offers the poorest local growth opportunity (based on an aging population)for Canadian retailers wishing to expand?
A) Taiwan
B) Mexico
C) Chile
D) India
E) China
Q4) _____________________ is the world's largest retailer.
Q5) What is an advantage of foreign market direct investment to Canadian retailers? What is a disadvantage of this method?
Q6) What makes global site location decisions more difficult for market entrants?
Page 10
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Chapter 8: Financial Strategy
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) Name one example of an accrued liability.
Q2) Which of the following is an example of a fixed asset for a music store?
A) An assortment of music stands
B) Sheet music
C) A central computer that is used to manage the store's inventory
D) Classical and electric guitars
E) A selection of jazz CDs
Q3) How do you calculate net sales?
A) Add operating expense and interest expense; then subtract from gross sales
B) Combine the total customer returns, customer sales, and customer allowances
C) Subtract customer returns from gross sales and add promotional allowances from vendors
D) Subtract cost of goods sold from gross sales
E) Subtract gross profits from promotional allowances
Q4) A disadvantage of too high an inventory turnover would be:
A) increased cost of goods sold
B) increased sales volume
C) less risk of markdowns
D) increased asset turnover
E) decreased operating expenses
11
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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 the ways to reduce the level of inventory in the supply chain and the number of stockouts in the stores?
A) using EDI
B) sharing information
C) using reverse logistics
D) using vendor-managed inventory (VMI)
E) employing collaborative planning, forecasting, and replenishment (CPFR)
Q2) What happens when retailers and vendors do not coordinate their supply chain management activities?
A) prices drop at the negotiation level
B) communication improves
C) the DC shuts down
D) inventory builds up in the supply chain
E) lower inventory leads to sell-outs
Q3) What is logistics?
Q4) In what two ways do efficient supply chains benefit customers and how do these customer benefits translate into benefits for the retailer?
Q5) What are some of the costs associated with a Quick Response inventory system?
Q6) What is the purpose of the data warehouse,and how do retailers use it?
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Chapter 10: Merchandise Management
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79 Verified Questions
79 Flashcards
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Sample Questions
Q1) In a shoe store retail establishment,Nine West,sling-back,black,two inch heel,size 7 is an example of a(n)____________.
Q2) The highest classification level in the buying organization is called the ___________.
Q3) A retailer that sells 10-pound bags of senior dog food has found that some weeks he sells thirty 10-pound bags and other weeks he sells none.A reorder can take up to three weeks.The probability of running out of that size bag of dog food and alienating his customers can be alleviated by maintaining:
A) cycle stock
B) base stock
C) seasonal stock
D) safety stock
E) staple stock
Q4) Where are you most likely to find staple merchandise?
A) Computer software
B) Department store
C) Manufacturer's outlet
D) Superstore fashion boutiques
E) Grocery Stores
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Chapter 11: Buying Strategies
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111 Verified Questions
111 Flashcards
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Sample Questions
Q1) Which of the following is a type of retail exchange?
A) Concurrent
B) Consortium
C) Concrete
D) Interdependent
E) Reliant
Q2) Sears sells men's casual wear under the private brand name Nevada.It also carries sportswear by Arrow,Adidas,Dockers,Point Zero,and other manufacturer brands,but Nevada is priced slightly below the manufacturer brands.Sears makes no attempt to trade off the manufacturer brand equity,however,consumers perceive the Nevada to be the equivalent of the manufacturer brand.With the Nevada brand,Sears is using __________ branding.
A) copycat
B) bargain
C) complementary
D) premium
E) parallel
Q3) A special type of manufacturer brand is called a(n)____________,in which the owner of a well-known brand name enters a contract to develop,produce,and sell the branded merchandise.
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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) The problem with discounters using demand-oriented pricing is:
A) the lack of time available for the pricing process
B) the number of buyers who are involved in the pricing process
C) the number of sales expected by the customers
D) the number of SKUs that require pricing
E) none of these
Q2) The retail price of a set of four leather-bound J.K.Rowling novels is $75 and the initial markup is 51 percent.Calculate the merchandise cost.
A) $33.75
B) $25.71
C) $28.50
D) $36.75
E) $42.85
Q3) What is zone pricing,and why do retailers use it?
Q4) _________________ are funds that a vendor gives the retailer to cover lost gross margin dollars that result from markdowns and other merchandising issues.
Q5) How can a retailer determine the markdown strategy if it decides not to use the rules-based approach?
Q6) What are the limits of a rules-based approach of taking markdowns?
Page 15
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Chapter 13: Human Resource Management and Staff Training Issues
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151 Verified Questions
151 Flashcards
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Sample Questions
Q1) Lisa has three school-aged children,so her job allows her to schedule her work so that she is home in the afternoon when they get home from school.Madison hates to get up early in the morning,so her job allows her to come to work at noon and stay until closing.Both of these women are beneficiaries of a policy known as:
A) time sharing
B) task empowerment
C) balanced tasking
D) job sharing
E) flextime
Q2) ________________ is a set of steps taken to transform new employees into effective,committed members of the firm.
A) Job application
B) Socialization
C) Employee retention
D) Training
E) Job previewing
Q3) Explain how an important challenge in retail is to reduce turnover.
Q4) Under what conditions can a supervisor effectively manage people?
Q5) What is a glass ceiling?
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Chapter 14: Building Customer Loyalty: Customer
Relationship Management and Service Strategies
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185 Verified Questions
185 Flashcards
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Sample Questions
Q1) Why are concerns about privacy acute for customers who use the electronic channel while they shop?
A) Electronic retailers ask for more information than necessary for a simple transaction
B) Consumers are concerned about their credit card security
C) A large amount of information can be collected without the consumer's knowledge
D) Consumers are concerned as to how the information is shared
E) All of these
Q2) What information is generally included in the privacy policies of most online retailers?
Q3) What are the steps in effective service recovery?
Q4) _________________________ is the perceived fairness of the process used to resolve complaints.
Q5) Which of the following would be considered part of the customer database?
A) A customer's income
B) A customer's size
C) Whether the customer shopped on the retailer's website
D) Whether the customer responded to a recent promotion
E) All of these
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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) A measure used to compare the value of advertising media is ________________.
Q2) Clara owns a popular women's boutique in a gentrified urban area.She carries women's career wear and an extensive selection of quality leather handbags.Recently,Clara noticed that her shoppers have high awareness of her apparel,but are surprised when they see the handbags.Since the handbags have high margins,she is concerned about the shoppers' surprised response.What should Clara do?
A) Clara should do nothing since the handbags are selling
B) Clara should place the handbags in the back of the store
C) Clara should allocate more of the communication budget to advertise the handbags in special ads
D) She should realize the passing fad of leather and provide less of an assortment
E) Clara should spend the same on each merchandise category her store carries in order to maximize the profits
Q3) What are the disadvantages associated with using the percentage-of-sales method for establishing a retail communication budget?
Q4) What are the four steps in the retail communication process?
Q5) How can retailers build top-of-mind awareness?
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