MMP 107:

Retail Management

Module Test II

Multiple Choice.

_____ 1. This includes advertising, public relations, publicity and sales promotion. The goal is to position the store in consumers' minds.

1. Product Assortment & Services

2. Retail Location

3. Retail Pricing

4. Retail Promotion

_____ 2. It has a great influence on sales performance of such products. A retailer has to decide whether it will be a standalone store in a city, or open stores to cover a designated area like a city, state or country.

1. Product Assortment & Services
2. Retail Location
3. Retail Pricing
4. Retail Promotion

_____ 3. This is a statement identifying the retailer's target market, the format the retailer plans to use to satisfy the target market's needs, and the bases on which the retailer plans to build a sustainable competitive advantage.

1. Retail Advertising
2. Retail Market Mix
3. Retail Market Strategy
4. Retail Policy Pricing

_____ 4. It pertains to the market segment(s) toward which the retailer plans to focus its resources and retail mix.

1. Retail Advertising
2. Retail Format
3. Sustainable Competitive Advantage
4. Target Market

_____ 5. It describes the nature of the retailer's operations---its retail mix (type of merchandise and services offered, pricing policy, advertising and promotion programs, store design and visual merchandising, typical locations, and customer services) which will be used to satisfy the needs of its target market.

1. Retail Format
2. Retail Merchandise Management
3. Retail Strategy
4. Sustainable Competitive Advantage

_____ 6. This refers to an advantage the retailer has over its competition that is not easily copied by competitors and thus can be maintained over a long period of time.

1. Retail Format
2. Retail Merchandise
3. Sustainable Competitive Advantage
4. Target Market

_____ 7. It involves realizing growth by directing effortstowardexisting customers using the retailer's present retailing format.

1. Market Expansion Growth Opportunity
2. Market Penetration Growth Opportunity
3. Market Segmentation
4. Marketing Mix

_____ 8. It involves using the retailer's existing retail format in new market segments.

1. Market Concept
2. Market Expansion Growth Opportunity
3. Market Opportunity Analysis
4. Market Penetration Growth Opportunity

_____ 9. It is one in which a retailer introduces a new retail format directed toward market segment that is not currently served by the retailer.

1. Diversification
2. Market Expansion
3. Market Penetration
4. Retail Format Development

_____ 10. This can be traced from its income statement, which summarizes the firm's financial performance over a period of time.

1. Cash Flow
2. Profit Path
3. Ratio
4. Turnover Path

_____ 11. This is a method of summarizing the factors that affect a firm's financial performance, as measured by return on assets.

1. Cash Flow

2. Growth Opportunities Model

3. Retail Marketing Strategies

4. Strategic Profit Model

_____ 12. It is a small version of a market where housewives and low-income shoppers can buy vegetables and fruits, meat, fish and other agricultural products sold in push carts, makeshift stands, and in sidewalks in one place altogether.

1. Department Store
2. Fast Food Chain
3. Tiangge
4. Ukay-ukay

_____ 13. This type of retail location is basically any stand-alone building. It can be put away in a neighborhood location or right off a busy highway.

1. Free Standing Locations
2. Home-based
3. Office Building
4. Shopping Center

_____ 14. This may be another option for a retailer, especially when they cater to other businesses. Tenants share maintenance costs and the image of this type of location is usually upscale and professional.

1. Free Standing Locations
2. Home-based
3. Office Building
4. Shopping Center

_____ 15. This determines how a particular site can be used; these are similar legal restrictions that specify the type of building, signs, size and type of parking lot, and so forth, that can be used at a particular location.

1. Environmental and Sustainability Issues
2. Licensing Requirements
3. Signs
4. Zoning and Building Codes

_____ 16. Restrictions on the use of this legal consideration in choosing a retail site location can affect a particular site's desirability. These may be restricted by building codes, zoning ordinances, or even the shopping center management.

1. Environmental and Sustainability Issues
2. Licensing Requirements
3. Signs
4. Zoning and Building Codes

_____ 17. In this model, the force of the attraction is based on two factors: the size of the store (larger stores have more pulling power) and the time it takes to travel to the store (stores that take more time to get to have less pulling power).

1. Analog Approach
2. Huff Gravity Model
3. Regression Analysis Approach
4. T-test

_____ 18. This is based on the assumption that factors which affect sales of existing stores in a chain will have the same impact on stores located at new sites being considered. This technique can consider the effects of the wide range of factors such as site characteristics - its visibility and accessibility, and characteristics of the trade area - its demographics and lifestyle segments represented.

1. Analog Approach
2. Huff Gravity Model
3. Regression Analysis Approach
4. T-test

_____ 19. The retailer simply describes the site and trade area characteristics for its most successful stores and attempts to find a site with similar characteristics. Using this approach, Edward Beiner undertakes the following steps: Do a competitive analysis; Define present trade area; Analyze trade area characteristics; and Match characteristics of present area with potential sites.

1. Analog Approach
2. Huff Gravity Model
3. Regression Analysis Approach
4. T-test

_____ 20. It is essential for retail managers to empower their employees by making them part of day-to-day decision making processes and giving them a level of choice and control over their own work schedules, although within set parameters.

1. Choice and Control
2. Gamification
3. Rewarding
4. Training

_____ 21. It addresses the role of an employee in the store's relationship with its customers. The trend of empowering associates to handle issues on the sales floor, rather than seek manager approval, requires a change in employee mindset. Skills such as promptly greeting, acknowledging and thanking customers must be revisited.

1. Recruitment
2. Retention
3. Rewarding
4. Training

_____ 22. These are basically responsible for the needs and challenges of society. These include legal and ethical compliance, satisfying society's needs and wants, and harmony among union-management relations.

1. Functional Objectives
2. Organizational Objectives
3. Personal Objectives
4. Societal Objectives

_____ 23. When an employee joins an organization, he does not come alone. He brings with himself experience, attitude, skill, knowledge, personality and he tries his level best to take the organization to top. He seeks the organization for realization of, demanding and expressively draining. These include training and development, performance management, and compensation and benefits.

1. Functional Objectives
2. Organizational Objectives
3. Personal Objectives
4. Societal Objectives

_____ 24. These help an organization to support and enhance the role of its employees within the organization through provision of information, advice, facilities and training. These include performance management, compensation and benefits, labor relations, and managerial relations.

1. Functional Objectives
2. Organizational Objectives
3. Personal Objectives
4. Societal Objectives

_____ 25. These identify the job of HRM in bringing about organizational overall effectiveness. It involves HR planning, maintaining good relations with employees, selection, training and development, appraisal and assessment.

1. Functional Objectives
2. Organizational Objectives
3. Personal Objectives
4. Societal Objectives