Question $1(1$ point$)$

A SWOT analysis is often conducted during which stage of the strategic retail planning process?

Question $1$ options:

a$)$

Definition of business mission

b$)$

Situational audit

c$)$

Evaluating strategic alternatives

d$)$

Establishing objectives

e$)$

Retail segmentation process

Question $2(1$ point$)$

Which of the following provides the direction that the retailer plans to take to deal effectively with environmental factors?

Question $2$ options:

a$)$

marketing objective

b$)$

merchandise budget plan

c$)$

mission statement

d$)$

organizational structure

e$)$

retail strategy

Question $3(1$ point$)$

A retailer's format uses the $\_\_\_\_\_\_\_\_\_\_\_$ to satisfy the needs of the target market.

Question $3$ options:

a$)$

buying plan

b$)$

demographic information

c$)$

positioning statement

d$)$

retail mix

e$)$

sustainable competitive advantage

Question $4(1$ point$)$

Which of the following is a group of consumers with similar needs and a group of retailers using a similar format to satisfy those consumers' needs?

Question $4$ options:

a$)$

marketing format

b$)$

retail market

c$)$

retail mix

d$)$

target audience

e$)$

target market

Question $5(1$ point$)$

Why should a retailer be concerned with building a sustainable competitive advantage?

Question $5$ options:

a$)$

It could affect merchandise planning

b$)$

They should not as other retailers would just duplicate the efforts

c$)$

It could result in long$-$term profitability

d$)$

It is the final step in developing the retail strategy

e$)$

The competition's advantage will stimulate the retailer's market

Question $6(1$ point$)$

Having efficient distribution and information systems is vital for retailers to sustain a competitive advantage due to the following EXCEPT:

Question $6$ options:

a$)$

they are able to get the merchandise to the customer quickly and efficiently

b$)$

they are able to get the assortments to the customer they want

c$)$

they are able to deliver merchandise at lower costs and apply the margin to lower prices or better services

d$)$

the information flow between vendors and stores is seamless enabling rapid replenishment

e$)$

the manufacturing quality of the product is enhanced

Question $7(1$ point$)$

A doughnut shop that decides to open up an hour earlier every morning is taking advantage of a $\_\_\_\_\_\_$ opportunity.

Question $7$ options:

a$)$

market penetration

b$)$

diversification

c$)$

retail format development

d$)$

market depletion

e$)$

market divestment

Question $8(1$ point$)$

The $\_\_\_\_\_\_\_\_\_\_\_\_\_$ is the set of steps that a retailer should go through to develop a strategic retail plan.

Question $8$ options:

a$)$

strategic retail planning process

b$)$

situation audit

c$)$

strategic retail implementation

d$)$

strategic retail control process

e$)$

tactical retail implementation

Question $9(1$ point$)$

A geographic area encompassing most of the customers who would patronize a specific retail site and that accounts for the majority of a store's sales and customers is called a:

Question $9$ options:

a$)$

CMA

b$)$

region

c$)$

site

d$)$

target market

e$)$

trade area

Question $10(1$ point$)$

Retail promotion and distribution economies of scale can be achieved with:

Question $10$ options:

a$)$

a saturated trade area

b$)$

little competition

c$)$

multiple locations

d$)$

a sound business climate

e$)$

supportive lifestyle demographics

Question $11(1$ point$)$

The two major configurations of shopping centers are:

Question $11$ options:

a$)$

Downtown and suburban

b$)$

Freestanding and enclosed

c$)$

Outlet centers and theme centers

d$)$

Staple and fashion

e$)$

Strip centers and enclosed malls

Question $12(1$ point$)$

Shopping centers that focus on posh neighbourhoods, high$-$income areas with an outdoor, traditional streetscape can be considered as:

Question $12$ options:

a$)$

convenience centers

b$)$

lifestyle centers

c$)$

off$-$price centers

d$)$

outlet centers

e$)$

regional malls

Question $13(1$ point$)$

Which of the following statements about outlet centers is true?

Question $13$ options:

a$)$

It is predicted that the number of outlet centers will double over the next decade

b$)$

Outlet centers are not found outside of the United States

c$)$

Outlet centers have the no$-$frills look of warehouse stores

d$)$

Outlet centers are often located some distance from regional shopping centers

e$)$

Outlet centers sell only irregulars and overruns

Question $14(1$ point$)$

Why would a retailer choose to expand to a central business district?

Question $14$ options:

a$)$

High security may be necessary

b$)$

Limited parking

c$)$

Business is slow in the evening

d$)$

Shoppers are subjected to weather conditions

e$)$

High volume of consumers during averag