Question 1

Which of the following is NOT true about West Edmonton Mall?

Accepted Answer

A)  It has a sky ceiling
B)  It is no longer going to expand
C)  It has a miniature golf
D)  It has a skating rinkE) None of the above
F) C) and D)

Question 2

Briefly describe the three ways retail outlets can be classified.

Accepted Answer

The answer of Briefly describe the three ways retail outlets...

Question 3

Major retail categories in Canada include:

Accepted Answer

A)  automotive, coffee, furniture, and clothing.
B)  automotive, food, furniture, and clothing.
C)  SUVs, beverage, homes, and services.
D)  SUVs, food, homes, and clothing.E) C) and D)
F) A) and B)

Question 4

Figure: 15-6 
-According to Figure 15-6,cell "1" represents the stage in the wheel of retailing when there are:

Accepted Answer

A)  low prices, low margins, and low status.
B)  low prices, high margins, and high status.
C)  mixed prices, mixed margins, and mixed status.
D)  moderate prices, high margins, and high status.E) A) and D)
F) A) and C)

Question 5

Enterprise car rental agency differentiates itself from other similar agencies by providing a delivery service.This delivery service is particularly valuable to someone who has been left stranded without transportation.What level of service does Enterprise appear to be offering?

Accepted Answer

A)  self-service
B)  low-service
C)  limited service
D)  full-serviceE) B) and D)
F) B) and C)

Question 6

Dillard's and Parisian's are two department store chains that have high value added and broad product lines.They pay close attention to store design and product lines.Merchandise in these stores often has a high margin of profit and is of high quality.Such stores typically provide:

Accepted Answer

A)  direct ordering from television infomercials.
B)  prompt mail-order delivery.
C)  low levels of service.
D)  high levels of service.E) A) and D)
F) A) and B)

Question 7

The Mercedes,Jaguar and BMW websites offer an option to _____.

Accepted Answer

A)  take a virtual trip through their manufacturing facilities
B)  design hypothetical new car models
C)  "build" a vehicle by selecting interior and exterior colours, packages, and options and then view the customized virtual car
D)  create avatars that help you make a purchase decisionE) None of the above
F) A) and B)

Question 8

A form of ownership that involves multiple outlets under common ownership is known as a(n) :

Accepted Answer

A)  corporate chain
B)  consumer cooperative
C)  contractual system
D)  independent retailerE) A) and B)
F) B) and D)

Question 9

Winners is known for carrying many high-end brands,but offering them at lower prices.This is called the:

Accepted Answer

A)  below-cost retailing
B)  off-price retailing
C)  branded-retailing
D)  high-brand low-price retailingE) A) and B)
F) A) and D)

Question 10

In Europe,stores are based on the concept of one-stop shopping for consumers.These can best be described as:

Accepted Answer

A)  megamarkets
B)  hypermarkets
C)  one-stop markets
D)  euromarketsE) A) and C)
F) A) and D)

Question 11

Global Pigeon Supplies is one of the biggest retailers of racing pigeon supplies in the country.The storeowner describes the store as "the Sam's [Club] of pigeon supplies." Which product breadth/depth assortment would best fit this store?

Accepted Answer

A)  narrow/narrow
B)  narrow/broad
C)  narrow/deep
D)  broad/deepE) C) and D)
F) A) and C)

Question 12

As a Marketing Analyst for Rona,your manager asked you to complete a competitive overview where you looked at other retail outlets,their breadth of product lines,and any value-added services offered.Essentially,your manager is asking you to complete a:

Accepted Answer

A)  BCG growth share matrix
B)  payoff table
C)  market-product grid
D)  retail positioning matrixE) B) and D)
F) None of the above

Question 13

The vision of the developers for West Edmonton Mall was:

Accepted Answer

A)  "The Biggest Mall in the World"
B)  "The Greatest Indoor Show on Earth"
C)  "The Greatest Experience on Earth"
D)  "The Greatest Variety on Earth"E) A) and B)
F) All of the above

Question 14

Explain the relationship between a franchisee and a franchisor.

Accepted Answer

The answer of Explain the relationship between a franchisee and...

Question 15

Which of the following stores are most likely to be anchor stores at a regional shopping centre?

Accepted Answer

A)  Old Navy, Abercrombie & Fitch, and Kay-Bee Toy store
B)  Hickory Farms, a locally-owned jewelry store, and Radio Shack
C)  an antique store, Dollar General store, and a bakery
D)  Sears and Hudson's BayE) B) and D)
F) All of the above

Question 16

Throughout the course of a day,a coffee shop replaces,on average,twenty cups of coffee because consumers or employees knocked them over or dropped them by accident.The coffee shop considers these spills as:

Accepted Answer

A)  Shrinkage.
B)  Sponging.
C)  Spoilage.
D)  Spunking.E) A) and B)
F) B) and D)

Question 17

The pricing manager for Loblaws tries to ensure that the difference between their selling price and the price the manufacturer charges them is at least ten percent of the manufacturer's price.This is referred to as the:

Accepted Answer

A)  markup
B)  ten-percent strategy
C)  original markup
D)  manufacturer markupE) A) and D)
F) All of the above

Question 18

A store selling over the Internet 24/7 is characterized with relatively _____ active customer involvement and relatively _______ active retailer involvement.

Accepted Answer

A)  low, low
B)  low, high
C)  high, low
D)  high, highE) A) and C)
F) C) and D)

Question 19

Fresh-cut flowers that used to only be available from florists can now be purchased at neighbourhood supermarkets.This is an example of:

Accepted Answer

A)  dysfunctional competition.
B)  mixed-line merchandising.
C)  multi-product marketing.
D)  intertype competition.E) All of the above
F) None of the above

Question 20

At which level of service would the retail customer perform the greatest number of functions?

Accepted Answer

A)  exclusive service
B)  selective service
C)  self-service
D)  limited serviceE) All of the above
F) A) and B)

Exam 15: Retailing

Figure: 15-6 -According to Figure 15-6,cell "1" represents the stage in the wheel of retailing when there are:

Correct AnswerverifiedShow Answer

The pricing manager for Loblaws tries to ensure that the difference between their selling price and the price the manufacturer charges them is at least ten percent of the manufacturer's price.This is referred to as the:

Correct AnswerverifiedShow Answer

In Europe,stores are based on the concept of one-stop shopping for consumers.These can best be described as:

Correct AnswerverifiedShow Answer

Major retail categories in Canada include:

Correct AnswerverifiedShow Answer

Which of the following stores are most likely to be anchor stores at a regional shopping centre?

Correct AnswerverifiedShow Answer

Winners is known for carrying many high-end brands,but offering them at lower prices.This is called the:

Correct AnswerverifiedShow Answer

Briefly describe the three ways retail outlets can be classified.

Correct AnswerverifiedShow Answer

Explain the relationship between a franchisee and a franchisor.

Correct AnswerverifiedShow Answer

A store selling over the Internet 24/7 is characterized with relatively _____ active customer involvement and relatively _______ active retailer involvement.

Correct AnswerverifiedShow Answer

The Mercedes,Jaguar and BMW websites offer an option to _____.

Correct AnswerverifiedShow Answer

At which level of service would the retail customer perform the greatest number of functions?

Correct AnswerverifiedShow Answer

Which of the following is NOT true about West Edmonton Mall?

Correct AnswerverifiedShow Answer

Fresh-cut flowers that used to only be available from florists can now be purchased at neighbourhood supermarkets.This is an example of:

Correct AnswerverifiedShow Answer

The vision of the developers for West Edmonton Mall was:

Correct AnswerverifiedShow Answer

As a Marketing Analyst for Rona,your manager asked you to complete a competitive overview where you looked at other retail outlets,their breadth of product lines,and any value-added services offered.Essentially,your manager is asking you to complete a:

Correct AnswerverifiedShow Answer

Dillard's and Parisian's are two department store chains that have high value added and broad product lines.They pay close attention to store design and product lines.Merchandise in these stores often has a high margin of profit and is of high quality.Such stores typically provide:

Correct AnswerverifiedShow Answer

Global Pigeon Supplies is one of the biggest retailers of racing pigeon supplies in the country.The storeowner describes the store as "the Sam's [Club] of pigeon supplies." Which product breadth/depth assortment would best fit this store?

Correct AnswerverifiedShow Answer

Enterprise car rental agency differentiates itself from other similar agencies by providing a delivery service.This delivery service is particularly valuable to someone who has been left stranded without transportation.What level of service does Enterprise appear to be offering?

Correct AnswerverifiedShow Answer

A form of ownership that involves multiple outlets under common ownership is known as a(n) :

Correct AnswerverifiedShow Answer

Throughout the course of a day,a coffee shop replaces,on average,twenty cups of coffee because consumers or employees knocked them over or dropped them by accident.The coffee shop considers these spills as:

Correct AnswerverifiedShow Answer

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A store selling over the Internet 24/7 is characterized with relatively _ active customer involvement and relatively ___ active retailer involvement.

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