Proctor & Gamble has reported saving tens of millions of dollars from increased supply chain efficiencies.
Question 2Which of the following conditions does NOT allow a retailer to price above the market?
a. Offering an exclusive merchandise line
b. Maintaining extended hours of operation
c. Having a competitor with similar merchandise lines located next door
d. Having outlets in accessible and convenient locations
e. Providing extra services
Question 3The primary problem with the pegging method of merchandise presentation is that it:
a. can be labor intensive to display and maintain.
b. makes small merchandise appear disorderly and haphazard.
c. cannot be incorporated into a wall system.
d. gives a low-cost, low-quality image to a store.
e. cannot work with gondolas.
Question 4When setting goals and objectives, a retailer has a variety of objectives from which to choose. Please list and explain these objectives. How will each of these objectives influence the way in which the retailer conducts its operations?
Question 5When the customer relies on the retailer to make a selection of goods to serve a particular purpose, it is termed a(n):
a. implied warranty of fitness.
b. implied warranty of service.
c. implied warranty of quality.
d. implied warranty of merchantability.
e. implied warranty of sale.
Question 6Information sharing systems that integrate the supply chain create demand visibility.
Indicate whether the statement is true or false
Question 7A _____ is least apt to use an above-market pricing policy.
a. small neighborhood drugstore
b. top-of-line apparel retailer, such as Neiman Marcus
c. mom-and-pop grocery store
d. warehouse club
e. fast-food restaurant located on a turnpike
Question 8The _____ is considered a softline feature fixture, because it presents merchandise in a manner that features certain characteristics of the merchandise (such as color, shape or style).
a. four-way rack
b. gondola
c. round rack
d. straight rack
e. flat-base deck
Question 9As a general rule, a retailer should strive to have its financial leverage between 3.0 and 4.0 times.
Indicate whether the statement is true or false
Question 10Identify the incorrect statement about an implied warranty of merchantability.
a. The notion of implied warranty applies only to new merchandise.
b. Every retailer selling goods makes an implied warranty of merchantability.
c. By offering the goods for sale, the retailer implies that they are fit for the ordinary purpose for which such goods are typically used.
d. Because of the potential legal liability that accompanies an implied warranty, many retailers will expressly disclaim at the time of sale any or all implied warranties and seek to mark a product as is..
e. Some retailers will not be able to avoid implied warranties of merchantability.
Quick Reply
