55 Free Test Bank for Retailing 7th Edition by Dunne

Available for your free practice, there are many friendly marketing textbook test bank questions and full answers vividly illustrate how fun, exciting, challenging, and rewarding a career in retailing can be, even while helping students hone their skills and creativity to stay ahead of the competition and navigate an ever-changing economic environment. Such that, Free Test Bank for Retailing 7th Edition by Dunneout of our test sample which is definitely right on point when it is easy to access and thoroughly covered following topics needed for your certification exam. If you join in 55 mutiple choice questions below to be smart users.

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____ occurs when the customer gets needed information in the store and then orders it online for a lower price and to avoid paying state sales tax.

•  a.Nonstore shopping
•  b.Same-store retailing
•  c.Bricks-and-mortar retailing
•  d.Social shopping
•  e.Outshopping

The best way to categorize retailers is:

•  a.by the U.S. Bureau of Census’ three-digit North American Industrial Classification Systems (NAICS).
•  b.by the retailers' locations.
•  c.by the number of outlets the store maintains.
•  d.by the retailers' margins and turnover.
•  e.there is no single accepted method of classifying retail competitors.

In the text, when the authors refer to chain stores they are normally referring to operations having _____ or more units.

•  a.2
•  b.7
•  c.10
•  d.20
•  e.25

Which of the following is an example of a retail transaction?

•  a.A firm pays a printer for printing business cards.
•  b.A supermarket purchases eggs from a local farmer for resale.
•  c.A student purchases a magazine subscription from a door-to-door salesperson.
•  d.A manager of a college bookstore purchases extra copies of your Retailing text from the publisher.
•  e.A department store purchases cosmetics from a manufacturer for sale in its stores.

Market share refers to:

•  a.the number of competitors a retailer must contend with.
•  b.a retailer's total sales divided by total market sales.
•  c.agreements whereby retailers attempt to "share" certain costs.
•  d.the total sales a retailer has generated from the target market.
•  e.the portion of a retailer's sales that represent profit.

A product sold at or below cost is known as:

•  a.freebie marketing.
•  b.a loss leader.
•  c.product bundling.
•  d.a bait and switch.
•  e.product churning.

A convenience store that sells low-margin gasoline but makes its money selling higher-margin bread, milk, beer, cigarettes, magazines, lottery tickets, and fast food is an example of:

•  a.automatic merchandising.
•  b.product diversification.
•  c.scrambled merchandising.
•  d.piggybacking.
•  e.cross-merchandising.

Which of the following demographic factors have been significant sources of change over the last decade?

•  a.Fluctuating birth rate, the increasing number of immigrants, the growing importance of Generation-Y consumers, the fact that Generation-Xers are starting to reach middle age and that baby boomers are nearing retirement age.
•  b.Aging of baby boomers, declining household incomes, decline in part-time workers, redistribution of income levels, and the rise in the number of college graduates.
•  c.Increasing number of women in the workplace, declining household incomes, rise in part-time workers, rise in teenage suicide, and redistribution of income levels.
•  d.Fluctuating birth rate, the growing importance of Generation-X consumers, the fact that Generation-Yers are starting to reach middle age, and the increasing number of women in the workforce.
•  e.Fluctuating birth rate, the growing importance of Generation-X consumers, the fact that Generation-Yers are starting to reach middle age, and the decline in household incomes.

When Benetton, Toys “R” Us, Pizza Hut, and an IMAX Theater opened for business in former communist countries, the companies became instant successes. The joy and excitement exhibited by these customers illustrates which valuable lesson?

•  a.The value people of all cultures place on retailing that is responsive to their needs and wants.
•  b.The weakened American dollar in these countries allowed consumers to take advantage of significant savings.
•  c.Consumers in these countries were faced with too many choices, allowing this narrow grouping of American companies to be successful.
•  d.Retailers that enter foreign markets and “under-price” local competitors will be higher profit performers than those that do not.
•  e.Retailers that enter foreign markets and operate their business based on the same procedures used in their home market will be higher profit performers.

A _____ is a combination of the more traditional general merchandise store with a supermarket and an automotive service center.

•  a.discount store
•  b.lifestyle center
•  c.bricks-and-mortar business
•  d.supercenter
•  e.specialty store

Which of the following would NOT be considered a "category killer?"

•  a.Office Depot
•  b.PetSmart
•  c.Toys "R" Us
•  d.Target
•  e.Best Buy

An operator of which of the following establishments is NOT a retailer?

•  a.A catering service specializing in weddings.
•  b.A computer firm selling software to households via the Internet.
•  c.A student going door-to-door selling magazine subscriptions.
•  d.A corporate property management firm.
•  e.An ice cream shop in the student union.

Since population growth is slowing, retailers must attempt to _____ in order to attain their long-term profit or profit growth objectives.

•  a.open new stores at faster rates
•  b.increase market share or reduce expenses
•  c.utilize more price promotions to attract more customers into the store
•  d.add more merchandise categories
•  e.wait until population growth increases

What are the five most popular methods of classifying retailers?

•  a.Census Bureau, inventory method, margin versus turnover, location, and size
•  b.Census Bureau, margin versus turnover, inventory method, channel system, and size
•  c.Census Bureau, number of outlets, margin versus turnover, location, and size
•  d.number of outlets, margin versus turnover, location, size, and inventory method
•  e.number of outlets, Census Bureau, inventory method, location, and size

Retailing is defined as:

•  a.any exchange of cash and/or credit for goods or services between channel members.
•  b.a fairly stable and unchanging industry that has a major impact on society.
•  c.the final activities and steps needed to place merchandise made elsewhere into the hands of the consumer or to provide services to the consumer.
•  d.the sale of any good or service by the producer to a channel member.
•  e.the activities and steps needed to transfer goods and/or services between channel members.

The dominance of Walmart can be attributed to Sam Walton's realization that:

•  a.most of any product's cost gets added after the item is produced.
•  b.consumers desire great selection and are willing to pay higher prices to obtain that selection.
•  c.most consumers prefer to complete all of their shopping in one store to minimize their overall shopping time.
•  d.most consumers would prefer to shop in large stores rather than small stores as they believe that larger stores offer higher customer service.
•  e.the company’s primary focus should be on its profits.

Which of the following statements is true about retailing today?

•  a.Retailing is the most staid and stable sector of American business.
•  b.Retailing includes every living individual as a customer.
•  c.Retailing accounts for just over 30 percent of the worldwide labor force.
•  d.While the computer has improved the efficiency of service retailers, it has had less effect on the performance of bricks-and-mortar retailers.
•  e.Retailing is the third largest industry in most nations.

Large chains which recognize that consumer tastes vary by region often use a(n) _____ to give each store the flexibility to adjust its merchandise mix.

•  a.standard stock list
•  b.flexible merchandise planning center
•  c.private label branding strategy
•  d.localized merchandise planning center
•  e.optional stock list

Scrambled merchandising is the:

•  a.name given to the current retailing trend of sharing costs in order to reduce operating expense.
•  b.case where a retailer carries many different and unrelated items.
•  c.recent trend whereby retailers discontinue having individual departments within a store and instead mix all the merchandise together.
•  d.handling of a rather large number of related items, i.e., increasing product depth.
•  e.expansion of the product selection, such as when McDonald's added breakfast items to its menu.

Walmart became the world’s largest retailer by:

•  a.offering better value in price and quality.
•  b.cutting unnecessary costs.
•  c.concentrating only on profits.
•  d.selling products at low prices.
•  e.becoming more service oriented.

_____ is the result of the pressure being placed on many retailers to increase profits by carrying additional merchandise or services that will also increase store traffic.

•  a.Cross-merchandising
•  b.Piggybacking
•  c.Automatic merchandising
•  d.Product diversification
•  e.Scrambled merchandising

Which of the following is NOT one of the ways by which retailers are categorized?

•  a.Location
•  b.Market share
•  c.Number of outlets
•  d.Size
•  e.Margin vs. turnover

_____ is a merchandising method in which all stores in a retail chain stock the same merchandise.

•  a.An optional stock list
•  b.Scrambled merchandising
•  c.A standard stock list
•  d.Automatic merchandising
•  e.Cross-merchandising

Which of the following is NOT a trend that is changing the face of retailing today?

•  a.Increased level of price competition
•  b.America's changing demographic composition
•  c.Changes in store sizes
•  d.The growth of e-tailing
•  e.The birth of the discount store in the early 1980s

Same-store sales compare:

•  a.an individual store’s sales to its sales for the same month in the previous year.
•  b.clearance efforts with holiday mark-downs.
•  c.two stores in the same district to one another.
•  d.advertising circulars with in-store promotions.
•  e.revenue with expenses.

One of the most dramatic changes created by e-tailing is a shift in power between retailers and consumers. This shift in power is derived from:

•  a.the ability of consumers to purchase from retailers in other countries as a result of the Internet.
•  b.the inability of Internet retailers to compete with more traditional bricks-and-mortar retailers.
•  c.the loss of control of pricing information by retailers due to the information dissemination capabilities of the Internet.
•  d.the lack of competition in e-tailing.
•  e.the decreased power of consumers when transacting and negotiating with retailers.

Which of the following statements about NAICS codes is false?

•  a.Three-digit NAICS codes are very useful to the retail analyst.
•  b.In almost all instances, the NAICS code reflects the type of merchandise the retailer sells.
•  c.Four-digit NAICS codes provide much more information on the structure of retail competition than three-digit NAICS codes.
•  d.The U.S. Bureau of Census classifies all retailers using three-digit NAICS codes.
•  e.The major portion of a retailer’s competition comes from other retailers in its NAICS category.

The North American Industrial Classification System (NAICS) code is used to reflect the:

•  a.location of the retailer.
•  b.industrial category of the retailer.
•  c.type of merchandise the retailer sells.
•  d.size of the retailer in terms of sales dollars.
•  e.margin the retailer maintains in its industrial category.

Identify the incorrect statement about e-tailing.

•  a.It enables consumers to shop when they like and from where they like.
•  b.It provides access to vast amounts of information, ranging from a product’s attributes to who has the lowest price.
•  c.Many e-tailers offer personalized help online.
•  d.With some Internet websites, individuals can band together for group buying.
•  e.Some e-tailers may have to discontinue some product categories as consumers engage in outshopping.