Bonus 2 points for providing a one sentence explanation for each question

1. During the covid-19 pandemic, BestBuy specifically changed their selling model to buying online and eventually picking up their products via curb-side pick up. This is an example of:

a) Selective distribution

b) Intensive distribution

c) Omni-channel retailing

d) Multi-channel retailing

2. Sarah decided to open a Burger King in her neighborhood. In order to do so she contacted the corporate office of Burger King to get initial support from them. This however, gave her the opportunity to independently own her own Burger King Restaurant. This is an example of:

a) Partnership

b) Franchising

c) Corporation

d) Sole proprietorship

3. When checking out at the register Hannahford, Bob decides to purchase gum in the last minute (although this was never part of his shopping list or his plan). This is an example of:

a) Markdown sales

b) Quick sale

c) Impulse sales

d) Inventory management

4. Adirondack Brewery sells their beers extensively in the North Country. The main aim behind this strategy to maximize profits by generating increased sales in this region, while giving competition to other leading brands. This is an example of:

a) Selective distribution

b) Exclusive distribution

c) Intensive distribution

d) Dual distribution

5. Target ensures all of its stores are clean, offer convenient hours and that they have easy pick-up and return policies in addition to plenty of parking space for their customers. This is an example of:

a) Augmented retail strategy

b) Expected retail strategy

c) Proposed retail strategy

d) Potential retail strategy

6. Jackson & Callie is a boutique gift shop in Plattsburgh that exclusively sells unique gifts for special occasions. This is an example of:

a) Exclusive distribution

b) Bifurcated retailing

c) Niche retailing

d) Selective distribution

7. It is very common to find a regular Target in mid-sized towns, while Super Target is found in big cities. As evident, depending on geographic location, target has different retailing approaches. What strategy is target following here?

a) Market penetration

b) Market merging

c) Market segmentation

d) Market differentiation

8. Before Paul purchased a new TV from Best Buy, he made sure he read all information about it, including it’s technical specs , warranties being offered and the possibility of servicing it for cheap if needed in the future. Paul is actively trying to reduce:

a) Information search

b) Cognitive dissonance

c) Evaluate alternatives

d) Post-purchase behavior

9. Minnie buys Crest brand toothpaste, despite a bunch of alternatives made available to her. This is because she has most experience with using this brand and requires less time and effort to make this decision. This is an example of:

a) Routine decision making

b) Extended decision making

c) Limited decision making

d) Complex decision making

10. The retailing concept is comprised of ________.

a) short- and long-term objectives, organization mission, and the development of a competitive defensible strategy

b) objectives, implementable actions, feedback, and strategy adjustment

c) niche strategy, cost leadership, and focus

d) customer orientation, coordinated effort, value-driven, and goal orientation

11. Buying a car requires a lot of thought, time and money into making a decision. This is an example of:

a) Routine decision making

b) Extended decision making

c) Limited decision making

d) Complex decision making

12. The process in which people determine whether, what, when, where, how, from whom, and how often to purchase goods and services is ________.

a) consumer motivation

b) outshopping

c) consumer behavior

d) segment behavior

13. Major retailers collect customer data from point of sales purchases and store customer information in a large database. This process of collecting, integrating and storing customer data is called:

a) Data mining

b) Database management

c) Data warehousing

d) Data merging

14. Micromarketing is an application of:

a) Data warehousing

b) Data mining

c) Pilferage control

d) Sales forecasting

15. The information needs of retail managers are continuously collected, organized and stored in a:

a) Repository

b) Black box

c) Retail information system

d) Computer

16. Primary trading area in a given location comprises of :

a) 10-30% of a store’s customers from that location

b) 25-50% of a store’s customers from that location

c) 50-80% of a store’s customers from that location

d) Less than 10% of the store’s customers from that location

17. Determining the demographic and socioeconomic characteristics of customers is an important function of:

a) Regression analysis

b) Customer analysis

c) Trading-area analysis

d) Data analysis

18. Having a one-stop family shopping destination is a major advantage of:

a) Neighborhood business district

b) Planned shopping center

c) Central business district

d) Unplanned shopping center

19. Primary, secondary and fringe trading areas are described on the basis of:

a) Customer store loyalty

b) Outshopping by customers

c) Probability of large orders based upon customer residence

d) The frequency with which people from various geographic localities shop at a particular store

20. Sean is part of a hiring team at Walmart. As a new positioned opened up, John is being tasked with writing a description and studying the requirements of what the potential new job might require. What is John doing here?

a) Hierarchy of authority

b) Job analysis

c) Goal-oriented job description

d) Traditional job description

21. When retailers are planning to forecast their spending based on expected performance, essentially, they are setting aside a:

a) Forecast

b) Blueprint

c) Budget

d) Savings account

22. This activity requires the recruitment, selection, training, compensation, and supervision of retail personnel:

a) Training

b) Store management

c) Human resource management

d) Demand management

23. Lori bought a pair of headphones in Target. However, those were not the ones she expected so she returned them to the store. Target eventually had to send it back to the manufacturer. This flow of merchandise from retailer back to the manufacturer is an example of:

a) Forward logistics

b) Reverse logistics

c) Inventory management

d) Third-party logistics

24. Victoria Secrets uses it’s Angel Cards program to track purchases made by customers. This is an example of:

a) Panel data

b) Primary data

c) Customer loyalty program

d) Store management

25. Short-term sales increases is usually achieved by offering:

a) Retail promotion

b) Sales promotion

c) Public relations

d) Advertising

26. Positioning can best be described as:

a) How a retailer is perceived by consumers and others

b) the mix of atmosphere, storefronts, store layouts, displays, and customer services as they relate to communicating with customers

c) a retailer’s projecting an image relative to its retail category and its competitors that elicits a positive consumer response

d) the way in which a retailer is defined in a shopper’s mind

27. A retailer that seeks to alter prices to reflect fluctuations in costs or consumer demand should practice ________.

a) Price lining

b) One-price policy

c) Variable pricing

d) Customary pricing

28. The way in which a retailer is perceived by consumers and others is its ________.

a) Atmosphere

b) Aesthetics

c) Store perception

d) Image

29. Which pricing strategy seeks to stabilize demand throughout the year?

a) One-price policy

b) Variable pricing

c) Everday low pricing

d) Flexible pricing

30. What is an example of yield management pricing? Why is this the case?

Attachments:

Retailing-Tak….docx