The mass merchandising formula is very much driven by low gross margins which means the retailer must keep its cost low resulting in:
a. higher customer service.
b. higher customer satisfaction.
c. lower customer service.
d. lower customer satisfaction.
e. higher customer traffic.
Question 2The term minority (minority population) is likely to have a very different meaning in the next few decades.
Indicate whether the statement is true or false
Question 3A _____ business district usually consists of an unplanned shopping area around the geographic point at which all public transportation systems converge; it is usually in the center of the city and often where the city originated historically.
a. central
b. convenient
c. secondary
d. suburban
e. neighborhood
Question 4An item that a buyer sees as being a risky purchase would be likely to have a higher-than-normal markup percentage.
Indicate whether the statement is true or false
Question 5The retail model that shows how shows how inventory, space, and labor resources interrelate to yield high resource productivity is known as the:
a. Retail Resource Trinity Model.
b. Gross Margin Return on Space.
c. Retail Margin Model.
d. Gross Margin Return on Inventory.
e. Gross Margin Return on Labor.
Question 6With annual spending of 40 billion and influence on another 450 billion, tweeners (consumers aged 8 to 14) should not be overlooked by retailers.
Indicate whether the statement is true or false
Question 7Which of the following is a store-based retail format?
a. Street peddling
b. Automated merchandising systems
c. Interactive television
d. A shopping mall
e. The Internet