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Question;Exam: 080620RR - RETAILING STRATEGY;1. Which of the following does not indicate conditions that;lead to intense rivalry that adversely affect a;retailer who wants to enter the market?;A. High fixed costs;B. A large number of retailers with different sizes;C. A lack of perceived differences between competing;retailers;D. Slow growth;2. What type of product will a consumer look for without;regard to time, money, or effort?;A. Impulse product;B. Comparison product;C. Time-crunch product;D. Specialty product;3. Ian's job at the Nordstrom distribution center is to;place some of the incoming apparel on hangers in size;order before rolling them down to be ticketed. Ian is;preparing the merchandise to be;A. sorted and repacked for the conveyor.;B. cross-docked.;C. floor-ready.;D. ready for logistics.;4. The primary strategic objective of human resource;management is to;A. introduce new services in order to obtain customer;loyalty.;B. make sure the retailer abides by all state and federal;laws.;C. align the capabilities and behaviors of employees with;the goals of the retail firm.;D. decrease turnover.;5. Which benefits does efficient supply chain management;provide retailers concerning product availability?;A. Reduced stockouts and employee productivity;B. Increased backup stock level and reduced stockouts;C. Increased stock level and tailored assortments;D. Reduced stockouts and tailored assortments;6. A retailer can;work to retain employees and build a mutual commitment best by;A. treating employees all the same.;B. reducing its fixed costs.;C. empowering employees.;D. promoting the company.;7. Although retailers gain economies of scale from opening;multiple locations in an area, they also suffer;diminishing returns associated with locating too many;additional stores in an area. This is called;A. economies of scope.;B. channel integration.;C. channel competition.;D. sales cannibalization.;8. Which of the following describes the market expansion;growth strategy?;A. Opening stores of the same retail format in new market;segments.;B. Realizing growth by directing efforts toward existing;customers using the retailer's present retailing format.;C. Keeping existing stores open for longer hours.;D. Displaying merchandise to increase impulse purchases and;training salespeople to cross-sell.;9. Demarkus finally received financial backing from his;wealthy aunt in order to open a pawn shop. He;contacted the landlord of a nearby shopping center since he;had his eye on a vacant storefront. To his;surprise, his request for a lease was denied. What most;likely prevented the landlord from leasing to;Demarkus?;A. A licensing clause;B. A fixed-rate clause;C. A prohibited use clause;D. An escape clause;10. For fashion merchandise where there is only one shipment;of the product or collection, the best supply;chain method to use is the _______ strategy.;A. pull supply chain;B. push supply chain;C. cross check logistic;D. cost efficient logistic;11. What type of retailer would most likely benefit from the;use of direct store delivery?;A. A big box electronics retailer;B. A big box discount store;C. A large department store;D. A supermarket;12. Which of the following ratios is included as an integral;part of the strategic profit model?;A. Net profit marginB. Current liabilities;C. Inventory turnover;D. Retained earnings;13. The information used to analyze a retailer's asset;management path primarily comes from the;A. financial leverage statement;B. income statement;C. strategic profit model;D. balance sheet;14. Which of the following statements regarding the customer;pyramid is true?;A. Customers in the Iron segment in the customer pyramid;need special attention from the retailer to grow their potential to be;better customers.;B. Customers in the Gold segment are the most profitable and;loyal customers.;C. Customers in the Lead segment may actually cost the;retailer money to serve them.;D. All customers regardless of their segment must receive;equitable promotional benefits.;15. How do retailers and vendors ensure that information;that passes back and forth between retailers and;vendors is secure?;A. With a high level of planning, implementation and control;of the flow of information, then the information will be secure.;B. The system ensures that the information received has not;been tampered with by ensuring that the communication is both;authentic and authorized.;C. Paper hard copies are sent to one another for comparison;to be certain that the information is accurate.;D. Suppliers, customers and new clients all have a form of;access to information.;16. If Mohammed wanted to examine the assets and liabilities;of the Silver Exchange Coin Shop for the;end of the year, he should look at its;A. profitability statement.;B. balance sheet.;C. financial leverage statements.;D. income statement.;17. Craig works for a retailer planning what merchandise;will be in the assortments, setting prices;negotiating with vendors and planning advertising and;marketing for intimate apparel. He attends fashion;trade shows and travels to market in New York City nearly;every month. What position in the;organizational structure of a retailing firm does Craig;have?;A. Buyer;B. Merchandise planner;C. Store manager;D. Divisional merchandise manager;18. Why have some vendors and retailers chosen not to adopt;RFID tagging?;A. They believe the additional costs do not benefit the;return on investment.;B. They're concerned about the potential health risk of;radio frequency.End of exam;C. They're concerned about the data storage falling into the;wrong hands.;D. They don't want to replace people with the devices.;19. Goodwill Industries frequently hires disabled people as;part of the community thrift store personnel.;Which objective does Goodwill Industries value by this;practice?;A. Personal;B. Societal;C. Financial;D. Administrative;20. Val is concerned that the commissioned salespeople in;her fur shop aren't keeping the store clean and;merchandise properly displayed. What should she do?;A. Increase the sales commissions for her salespeople.;B. Stock less merchandise.;C. Fire the salespeople and hire new ones.;D. Change the incentives from commissions to bonuses


Paper#47064 | Written in 18-Jul-2015

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