Question 1

A Coach store located in The Bay is called a boutique.

Accepted Answer

A) True 
 B)False

Question 2

On average, Max's Floors has $50,000 worth of area rugs in stock at any given time. Last year, area rug sales were $550,000. What is the inventory turn for the area rug department at Max's Floors?

Accepted Answer

A)   annually
B)   $550,000
C)   $50,000
D)   11
E)   9%F) None of the above
G) A) and D) D

Question 3

Which of the following are the four key functions of retailers?

Accepted Answer

A)   personal selling, displaying, inventory management, delivery
B)   sorting, selling, financing, delivery
C)   service, selling, sorting, transacting
D)   marketing, e-commerce services, selling, servicing
E)   marketing, sorting, transacting, e-commerce servicesF) A) and E)
G) C) and D)

Question 4

Retailing refers to those activities involved in the sale of goods and services to final consumers for personal, family, or household use.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is a warehouse outlet?

Accepted Answer

A)   Sears
B)   Canadian Tire
C)   Walmart
D)   Costco
E)   The BayF) D) and E)
G) B) and D)

Question 6

Costco is a no-frills, cash-and-carry outlet also known as a warehouse outlet.

Accepted Answer

A) True 
 B)False  True

Question 7

Anchor stores such as The Bay and Walmart are typically located in suburban malls.

Accepted Answer

A) True 
 B)False

Question 8

Shopper marketing is an outdated concept that pertains to monitoring consumer behaviour only in physical retail locations.

Accepted Answer

A) True 
 B)False

Question 9

What is a lifestyle mall? In Canada, what potential is forecast for this type of mall?

Accepted Answer

A lifestyle mall is a smaller, open-air ...

Question 10

Once Jameson's Tires, an independent retailer, owns more than two stores it is considered a chain.

Accepted Answer

A) True 
 B)False

Question 11

Walmart is a warehouse outlet.

Accepted Answer

A) True 
 B)False

Question 12

Knowing the inventory turn rate allows the retailer to

Accepted Answer

A)   calculate the business return on investment.
B)   calculate the assortment consistency for a particular retail outlet.
C)   match inventory supply with demand.
D)   know when to rotate stock to ensure it sells before the expiration date.
E)   make sound investments on the stock market.F) C) and E)
G) A) and E)

Question 13

In a retail franchise agreement, the franchisee

Accepted Answer

A)   learns by trial and error the successful operation of the business.
B)   supplies managerial expertise to the owners.
C)   chooses the location and suppliers that are most beneficial to the franchisee.
D)   follows the management practices and accounting systems of the franchisor.
E)   takes no initial risk, but pays a very heavy percentage in royalties.F) A) and D)
G) B) and E)

Question 14

Retailing employs less than 10% of Canada's workforce.

Accepted Answer

A) True 
 B)False

Question 15

NuGrowth Landscaping Supplies is located 25 kilometres north of a city beside a busy highway. This type of retailer is known as a

Accepted Answer

A)   rural shop.
B)   solo shop.
C)   freestanding store.
D)   outskirts shop.
E)   mini-strip.F) None of the above
G) D) and E)

Question 16

What is the component of the retailing marketing mix that addresses the physical characteristics of a retail store to develop image and attract customers?

Accepted Answer

A)   the retail appearance
B)   the internal merchandising display
C)   the atmosphere
D)   the store frontage
E)   the store layoutF) B) and E)
G) A) and D)

Question 17

Warehouse outlets are no-frills, cash-and-carry outlets that offer consumers name brand merchandise at discount prices. They are commonly referred to as big-box stores.

Accepted Answer

A) True 
 B)False

Question 18

The practice of locating two or more different franchises under the same roof is called

Accepted Answer

A)   joint venturing.
B)   joint occupancy.
C)   co-branding.
D)   co-franchising.
E)   turf sharing.F) A) and E)
G) B) and E) C

Question 19

Approximately 70% of all retail purchase decisions are made right in the store.

Accepted Answer

A) True 
 B)False

Question 20

It is called multi-branding when Taco Bell and KFC are located under the same roof.

Accepted Answer

A) True 
 B)False

Exam 13: Retailing

A Coach store located in The Bay is called a boutique.

Correct AnswerverifiedShow Answer

On average, Max's Floors has $50,000 worth of area rugs in stock at any given time. Last year, area rug sales were $550,000. What is the inventory turn for the area rug department at Max's Floors?

Correct AnswerverifiedD

Which of the following are the four key functions of retailers?

Correct AnswerverifiedShow Answer

Retailing refers to those activities involved in the sale of goods and services to final consumers for personal, family, or household use.

Correct AnswerverifiedShow Answer

Which of the following is a warehouse outlet?

Correct AnswerverifiedShow Answer

Costco is a no-frills, cash-and-carry outlet also known as a warehouse outlet.

Correct AnswerverifiedTrue

Anchor stores such as The Bay and Walmart are typically located in suburban malls.

Correct AnswerverifiedShow Answer

Shopper marketing is an outdated concept that pertains to monitoring consumer behaviour only in physical retail locations.

Correct AnswerverifiedShow Answer

What is a lifestyle mall? In Canada, what potential is forecast for this type of mall?

Correct AnswerverifiedA lifestyle mall is a smaller, open-air ...View AnswerShow Answer

Once Jameson's Tires, an independent retailer, owns more than two stores it is considered a chain.

Correct AnswerverifiedShow Answer

Walmart is a warehouse outlet.

Correct AnswerverifiedShow Answer

Knowing the inventory turn rate allows the retailer to

Correct AnswerverifiedShow Answer

In a retail franchise agreement, the franchisee

Correct AnswerverifiedShow Answer

Retailing employs less than 10% of Canada's workforce.

Correct AnswerverifiedShow Answer

NuGrowth Landscaping Supplies is located 25 kilometres north of a city beside a busy highway. This type of retailer is known as a

Correct AnswerverifiedShow Answer

What is the component of the retailing marketing mix that addresses the physical characteristics of a retail store to develop image and attract customers?

Correct AnswerverifiedShow Answer

Warehouse outlets are no-frills, cash-and-carry outlets that offer consumers name brand merchandise at discount prices. They are commonly referred to as big-box stores.

Correct AnswerverifiedShow Answer

The practice of locating two or more different franchises under the same roof is called

Correct AnswerverifiedC

Approximately 70% of all retail purchase decisions are made right in the store.

Correct AnswerverifiedShow Answer

It is called multi-branding when Taco Bell and KFC are located under the same roof.

Correct AnswerverifiedShow Answer

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D

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True

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A lifestyle mall is a smaller, open-air ...
View Answer

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C

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