Personal objectives relate to how a retail owner wishes to help individuals employed by the firm fulfill some of their needs.
Indicate whether the statement is true or false
Question 2The Equal Credit Opportunity Act:
a. regulates the reporting and use of credit information; limits consumer liability for stolen credit cards to 50.
b. prohibits discrimination in credit transactions because of gender, marital status, race, national origin, religion, age, or receipt of public assistance.
c. empowers the FTC to determine rules concerning consumer warranties and provides for consumer access to means of redress, such as the class action suit.
d. makes it a federal crime to defraud consumers through use of the mail.
e. requires lenders to state the true costs of a credit transaction; established a National Commission on Consumer Finance.
Question 3Direct access agreements, such as centralized booking agents for hotel operators, can improve channel coordination.
Indicate whether the statement is true or false
Question 4A cash discount with the terms 2/10, net 30, means that the bill is due in full within two weeks or 10 business days in order to claim a 30 percent discount.
Indicate whether the statement is true or false
Question 5The presentation of merchandise is a critical factor in the selling power of a store and its overall image. For bookstores, a face-out merchandise presentation of books as opposed to spine-out presentation:
a. is no longer used due to space constraints.
b. enhances store sales because face-out presentation allows the retailer to stock more titles.
c. creates a discount store atmosphere.
d. results in a consumer perception of cramming a huge selection of titles at low prices.
e. creates the image of a specialty book boutique that carries a limited selection of exclusive titles and is therefore a rather pricey place to shop.
Question 6When a retailer donates money to charity, this is considered a personal objective.
Indicate whether the statement is true or false
Question 7The _____ Act prevents the marketing and selling of harmful toys and dangerous products.
a. Sherman
b. Federal Trade Commission
c. Mail Fraud
d. Child Safety
e. Fair Packaging and Labeling
Question 8Companies moving to direct online sales generally see the greatest success when they make one swift, full-scale transition.
Indicate whether the statement is true or false
Question 9Seasonal discounts are now illegal in the United States.
Indicate whether the statement is true or false
Question 10The first decision the retailer must make in planning a store is:
a. deciding what graphics to use.
b. how to allocate the store's space.
c. deciding what type of fixtures to use.
d. deciding what type of lighting to use.
e. designing the logo.
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