Intertype competition is increasingly seen as many retailers compete using a scrambled merchandising strategy.
Indicate whether the statement is true or false
Question 2The two key dimensions of mass customization are product representation and product _____________.
a. pricing
b. attributes
c. organization
d. preference
Question 3Which of the following is an advantage of using the retail method of inventory valuation versus the cost method?
a. Physical inventories using retail prices are subject to more error
b. Inventories need to be taken in order to prepare the accounting statements
c. Physical inventories take long periods of time to complete
d. It provides an automatic, conservative valuation of ending inventory
e. Heavy reliance on bookkeeping activities
Question 4Increased patronage is probably one of the most common promotion objectives found in retailing.
Indicate whether the statement is true or false
Question 5If a retailer had an average inventory of 80,000 (retail) and annual sales of 480,000, how many times has that retailer turned over its inventory?
a. Four times a month
b. Six times a month
c. Four times a year
d. Six times a year
e. Eight times a year
Question 6Family Dollar competing with Dollar General is an example of intratype competition.
Indicate whether the statement is true or false
Question 7A car manufacturer that allows customers to select the vehicle's stereo system is engaged in which of the following personalization approaches?
a. mass customization
b. choice assistance
c. personalized messaging
d. event triggering
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