MMP 107:

Retail Management

Module Test I

I. Multiple Choice.

_____ 1. It is the set of business activities that adds value to the products and services sold to consumers for their personal or family use.

1. Manufacturing

2. Marketing

3. Retailing

4. Wholesaling

_____ 2. It is defined as the process of overseeing and planning new product development, advertising, promotions and sales.

1. Marketing Management
2. Production Management
3. Retailing Management
4. Supply Chain Management

_____ 3. These have helped businesses and organizations save time and cost of production.

1. Customer Service to Prosumers
2. Global Retailing
3. Non store Retailing
4. Technological Advancements

_____ 4. This refers to sales happening outside a physical structure like store. It includes catalog shopping, which offers consumers the convenience of selecting and purchasing merchandise according to their own schedules.

1. Customer Service to Prosumers
2. Global Retailing
3. Non store Retailing
4. Technological Advancements

_____ 5. This type of retailer enables customers to shop on-line via the internet and buy products which are then delivered.

1. Convenience Retailer
2. Department Store
3. Discount Retailer
4. E-tailer

_____ 6. These are the various ways of in which goods and services find their way from the provider to the consumer, and the payments generated find their way back to the provider.

1. Marketing Channels
2. Marketing Plans
3. Marketing Strategies
4. Product Plans

_____ 7. This is the most traditional marketing channel, where a retailer acquires the goods, either direct from the manufacturer or via an agent or wholesaler, and sells them to consumers, often with a considerable time lag.

1. Manufacturer to retailer
2. Retailer to customer
3. Wholesaler to customer
4. Manufacturer to wholesaler

_____ 8. This is the most straightforward marketing channel. This is where the manufacturer of the goods sells them directly to the consumer.

1. Manufacturer to customer
2. Retailer to customer
3. Wholesaler to customer
4. Manufacturer to wholesaler

_____ 9. This is the first and most important step in the buying process. If there is no need, there is no purchase. This recognition happens when there is a lag between the consumer's actual situation and the ideal and desired one.

1. Alternative Evaluation
2. Information Search
3. Need Recognition
4. Post-purchase Evaluation

_____ 10. This need is related to a feature or specific functions of the product or happens to be the answer to a functional problem.

1. Functional need
2. Need for change
3. Social need
4. The Maslow's hierarchy of needs

_____ 11. This is the need for self-recognition or group satisfaction.

1. Ego or self-esteem need
2. Physiological or biological need-
3. Safety need

4.Self-fulfillment or self-actualization need

_____ 12. This refers to the desire for security, stability, or protection against danger

1. Ego or self-esteem need
2. Physiological or biological need-
3. Safety need
4. Social need

_____ 13. Once the information collected, the consumer will be able to evaluate the different alternatives that offer to him, evaluate the most suitable to his needs and choose the one he thinks it is best for him.

1. Alternative Evaluation
2. Information Search
3. Need Recognition
4. Post-purchase Evaluation

_____ 14. The buying process does not end when a consumer purchases a product. After making a purchase, the consumer uses the product and then evaluates the experience to determine whether it was satisfactory or unsatisfactory.

1. Alternative Evaluation
2. Information Search
3. Purchase Decision
4. Post-purchase Evaluation

_____ 15. This is a purchase decision process involving a moderate amount of time and effort. Customers engage in this type of buying process when they have had some prior experience with the product or service and their risk is moderate.

1. Extended Problem Solving
2. Habitual Decision Making
3. Limited Problem Solving
4. Unlimited Problem Solving

_____ 16. This is a purchase decision process in which customers devote considerable time and effort to analyzing their alternatives.

1. Extended Problem Solving
2. Habitual Decision Making
3. Limited Problem Solving
4. Unlimited Problem Solving

_____ 17. This means that customers like and consistently buy a specific brand in a product category.

1. Brand Loyalty

2. Consumer Loyalty

3. Retailer Loyalty

4. Wholesaler Loyalty

_____ 18. Customers like and habitually visit the same retailer to purchase a type of merchandise.

1. Brand Loyalty
2. Consumer Loyalty
3. Retailer Loyalty
4. Wholesaler Loyalty

_____ 19. This includes one or more people whom a person uses as a basis of comparison for beliefs, feelings, and behaviors.

1. Culture
2. Family
3. Reference Group
4. Sub-culture

_____ 20. It refers to the meaning, beliefs, morals, and values shared by most members of a society.

1. Culture
2. Family
3. Reference Group
4. Sub-culture

II. Matching Type.

a. Automated Retailing

b. better data collection

c. Consumer buying behavior

d. Convenience

e. Direct Selling

f.External sources

g. Internal sources

h. Internet channel

i. Personalization

j. Retail channel

k. Safety

l. Television Home shopping

_____ 1. It is the way a retailer sells and delivers merchandise and services to its customers.

_____ 2. It is also called online retailing, electronic retailing, and e-tailing. It is a retail channel in which the offering of products and services for sale is communicated to customers over the internet.

_____ 3. It refers to the sum total of a consumer's attitudes, preferences, intentions, and decisions regarding the consumer's behavior in the marketplace when purchasing a product or service.

_____ 4. This is a retail channel in which salespeople interact with customers face- to-face in a convenient location, either at the customer's home or at work.

_____ 5. This is a retail channel in which customers watch a television program that demonstrates merchandise and then orders for that merchandise, usually by telephone, via the Internet, or via the T.V. remote.

_____ 6. This is a retail channel in which merchandise or services are stored in a machine and dispensed to customers when they deposit cash or use a credit card.

_____ 7. The most significant potential benefit of the Internet channel is its ability to personalize merchandise offerings and information for each customer economically.

_____ 8. These are information already present in the consumer's memory, such as names, images, and previous experiences with different stores. The

_____ 9. These consist of information provided by ads and other people. When customers feel that their internal information is inadequate, they turn to external information.

_____ 10. Knowing the customer is a key tenant for successful retailing, and multi- channel engagement points provide more opportunities to gather information about customers.