Strategies indicate how the retailer will attempt to accomplish its goals with the resources available.
Indicate whether the statement is true or false
Question 2_____occurs when a retail chain charges different prices in different geographic areas in order to eliminate competition in those areas.
a. vertical price fixing
b. bait-and-switch pricing
c. palm-off pricing
d. horizontal price fixing
e. predatory pricing
Question 3Trade associations seek to create ____________ as grammatical rules to ease communication and tracking efforts on the web.
a. HTML definitions
b. XML definitions
c. WWW definitions
d. HTTP definitions
Question 4Explain how variety, breadth, and depth influence a retailer's merchandise mix. What factors constrain a retailer's optimal merchandise mix, and how can a retailer overcome these constraints?
Question 5According to the late retail consultant Robert Kahn, many retailers mistakenly believed that simply placing more products in a store increased sales per square foot. Kahn indicated that higher sales per square foot could be explained by understanding basic consumer behavior. Kahn's rationale can best be understood through the formula: sales per square foot equals:
a. the number of retail customers multiplied by the length of time they spend in the store.
b. the number of retail customers divided by the square foot of retail space.
c. the number of products carried multiplied by the number of retail customers.
d. the number of products carried multiplied by the shelf space available divided by the number of retail customers.
e. retail sales divided by square footage.
Question 6Are new firms entering or are existing firms leaving? What is the impact on us? is an example of a opportunity.
Indicate whether the statement is true or false
Question 7Deceptive pricing occurs when retailers:
a. state that their lower prices were made in good faith in order to meet an equally low price of a competitor.
b. ban fair trade items from their store.
c. advertise merchandise at an artificially low price and then try to add hidden, or extra, charges.
d. tell lies about a competitor's price in an attempt to make a sale.
e. sell merchandise above the manufacturer's cap.
Question 8When prices for commodity items are set by auctions, purchase behavior is considered to be what?
a. dynamic
b. relational
c. transactional
d. vertical
Question 9What are some common buying errors a retailer should avoid when buying merchandise?
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