The affordable method, percentage-of-sales method, and task-and-objective method are all methods used to determine the amount to be spent on:
a. inventory levels.
b. promotion.
c. market research.
d. store site selection.
e. customer satisfaction.
Question 2The most sophisticated type of learning is:
a. single-loop learning.
b. post learning.
c. final learning
d. triple-loop learning.
e. double-loop learning.
Question 3A retailer who has already done a great job of developing a strategy:
a. should also be aware of changes on the national retailing scene, but need not concern itself with local changes.
b. need not worry what competitors are doing.
c. should never be seen visiting a competitor's store.
d. must make sure that its fixed costs exceed its variable costs.
e. must always remember that no retailer can ever design a strategy that will totally insulate it from the actions of competitors.
Question 4Site analysis begins by evaluating the:
a. traffic flow, land cost per square foot, and type of neighbor within the chosen market.
b. density of demand and supply of various areas within the chosen market.
c. demand density, site availability, and type of neighbors within a trading area.
d. type of neighbor, traffic flow, and demand density within a trading area.
e. demand density, supply density, and average sales per square feet.
Question 5Which of the following is NOT a common objective for a retailer's advertising campaign?
a. Make customers in your trading area aware that you offer the lowest prices
b. Make customers aware of your large stock selection
c. Cultivate new customers
d. Increase sales
e. Make customers think of you first when a need for your products occurs
Question 6In double-loop learning, the retailer asks itself if the _____ and_____ on which it is focused are the appropriate or right ____ and _____.
a. co-creations, co- productions.
b. gross margins, net margins.
c. profits, losses.
d. goals, measures.
e. investments, assets.
Question 7High-profit performance retailers must always be on the offensive in their study of the changing competitive environment, especially its _____ competition.
a. local
b. statewide
c. nationwide
d. worldwide
e. industry
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