Retailers generally promote the price of a product in their ads, while the manufacturers promote the features of the product.
Indicate whether the statement is true or false
Question 2Gross margin can be defined as:
a. net sales minus the cost of the goods sold.
b. the selling price charged for a piece of merchandise or a service plus variable operating expenses.
c. the difference between total profits and total expenses.
d. the cost of merchandise in a retailer's inventory.
e. the cost of goods sold at less operating expenses.
Question 3A market is considered understored when the number of stores is less than the current demand of the market.
Indicate whether the statement is true or false
Question 4Which of the following personalization systems has been shown to be most effective for consumer information programs?
a. Offering consumers new information
b. Reminding consumers of existing information
c. Reducing the cost of using existing information
d. Scaling the costs of the information against the benefits
Question 5Holly's Arts and Crafts had a retail inventory available for sale of 700,000, while sales were 210,000, markdowns were 5,000 and discounts were 2,000 . What is the ending inventory at retail?
a. 490,000
b. 483,000
c. 485,000
d. 693,000
e. 695,000
Question 6Retailers want customers to make purchases in their stores; thus, retailers should mention the product's features, not its price, in their ads.
Indicate whether the statement is true or false
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