A market offers rows of exotic produce, fresh prime meats, seafood flown in fresh, a bakery filled with artisan breads and over 220 cheeses. This market is competing for customers on which major front?
a. The price for the value offered
b. Service level
c. Product selection
d. Location or access
e. Employee compensation
Question 2_____ is the extent to which potential demand for the retailer's goods and services is concentrated in certain census tracts, ZIP code areas, or parts of the community.
a. Demand gravity
b. Demand growth
c. Demand concentration
d. Demand density
e. Demand elasticity
Question 3When a retailer chooses to use all the money it can afford to spend on advertising, the retailer is using which method to determine its advertising budget?
a. Percentage-of-sales
b. Task-and-objective
c. Affordable
d. Competitive parity
e. Concentrated target market
Question 4Which learning style asks the question: What is our right business model?
a. Double-loop learning.
b. Pre-learning.
c. Triple-loop learning.
d. Single-loop learning.
e. Beginning learning.
Question 5Retailers compete for customers on five major fronts or factors. Which of the following is NOT one of the major fronts retailers compete for target customers?
a. The price for the value offered
b. Service level
c. Product selection
d. Customer experience
e. Employee compensation
Question 6Which of the following does NOT result in a larger trade area for a retail store?
a. Sale of specialty products
b. Higher consumer mobility
c. Larger store size in terms of square feet of space
d. A larger distance between competing stores
e. Sale of convenience goods
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