_____ data is the most commonly available objective data that a retailer can obtain about a target market(s).
a. Demographic
b. Psychographic
c. Biological
d. Geographic
e. Personality
Question 2Clerical error probably accounts for more stock shortages than theft.
Indicate whether the statement is true or false
Question 3One of the main reasons for the increased retail competition during the marketing to era was:
a. improved transport and communication.
b. growth of chain stores.
c. movement of customers from rural areas to larger cities.
d. the emergence of collaboration with vendors.
e. identifying specific consumer needs.
Question 4In addition to altering the types of products offered to these aging segments of the population, retailers will also need to shift the types of services provided if they are to gain the consumers' dollar.
Indicate whether the statement is true or false
Question 5For a retailer to successfully reach its target market using market segmentation, three criteria must be met: the target market should be:
a. measurable, precise, and be motivated to buy
b. measurable, accessible, and substantial enough to be profitable
c. measurable, have money, and be motivated to buy
d. neglected, motivated to buy, and substantial
e. financially attractive, quantifiable, and be motivated to buy
Question 6Reductions cause the difference between a retailer's maintained markup and initial markup.
Indicate whether the statement is true or false
Question 7During the to market era the major challenge was:
a. identifying a target market.
b. bringing merchandise to the market.
c. selling the merchandise.
d. determining the cost of merchandise.
e. locating a supplier of the merchandise.
Question 8The graying of America phenomenon refers to the fact that consumers' ethnicities are becoming blurred as immigration to the United States continues to increase.
Indicate whether the statement is true or false
Question 9The retailer's first step in developing a cost-effective way for a retailer to reach its customer with either a traditional store or virtual store is:
a. establish its budget.
b. identify its strengths and weaknesses.
c. identify its target market.
d. develop a list of constraining factors.
e. hire a real-estate consultant.
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