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Exam 14: Retailing

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Question 31

Multiple Choice

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Which of the following is true of freestanding store locations?

A) They may have the advantages of low site cost or rent.
B) They may have many nearby competitors to contend with.
C) They may have the advantages of easy access to customers.
D) They may have the option to share costs with nearby retailers.

E) B) and C)
F) A) and D)

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Question 32

Multiple Choice

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How would brand cannibalization resulting from a product promotion likely affect the retailer?

A) The promotion works out cheaper for the retailer.
B) The promotion causes the brand to suffer stockouts.
C) The promotion creates accurate sales forecasts for the cannibalized product.
D) The retailer gains from discounting surplus inventory of the cannibalized brand.

E) A) and B)
F) A) and C)

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Question 33

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Delta Graphics Inc.specializes in publishing educational books.It recruits and trains college students to sell its products door-to-door.Which of the following forms of nonstore retailing is illustrated in this scenario?

Berkley's Nooks are a self-service chain of service stations with stores that are located near residential areas.They are open long hours and offer fast service in exchange for charging premium prices.Their customers are beginning to demand more from them,such as higher quality food and lower prices on staple items such as gasoline and milk.Which type of retailers are Berkley's Nooks?

Full-line discounters typically carry ______.

Which of the following statements is true of service failures?

A(n) _____ is a retail business where the operator is granted a license to operate and sell a product under the brand name of a larger supporting organizational structure.

The ways in which connected consumers exchange goods and services with each other through a digital marketplace,such as Craigslist,is called ______.

_____ is a form of nonstore retailing that uses machines to sell its goods.

How can firms that provide services,such as hair salons and financial services,improve delivery of their services?

Establishing channel-wide network coherence is a key factor in maintaining service quality.

The Hunt,a liquor store,is famous for its unique and extensive collection of alcoholic beverages.Its employees possess up-to-date knowledge of the liquor available in the store,which allows them to assist customers in their purchasing decisions.The Hunt is an example of a _____.

The first element in the retailing mix is the _____.

Shopper marketing has significant implications for retailers' supply chains,which must react more quickly to customer demand changes as instore initiatives become ______.

Retailing's ultimate goal is to sell products to consumers,and the right price is critical to ensure sales.Because retail prices are usually based on the cost of the merchandise,an essential part of pricing is efficient and timely buying.

The retailing mix consists of six Ps: the four Ps of the marketing mix (product,promotion,place,and price) plus ______.

A restaurant has a narrow product assortment and its level of service,price,and gross margin all range between low and high.

Which of the following is a similarity between specialty stores and restaurants?

Which of the following statements is true of big data analytics?

Around the world,most retailers are independent,with each owner operating a singular store within a local community.