MKTG 350 TEST QUESTIONS AND
ANSWERS ALL CORRECT
Which retail channel has the least perceived risk when purchasing products? - Answer-
stores
Which statement is true of the operations of multichannel retailers? - Answer- they need
to maintain a consistent image across channels
________ is a post consumption evaluation of how well a store or product meets or
exceeds customer expectations. - Answer- satisfaction
Changing importance weights is difficult because: - Answer- importance weights reflect
customers' personal values.
Every morning, Raul goes to one of the nearby convenience stores and buys a carton of
Green Farm's chocolate milk for breakfast. When the store is out of Green Farm Raul
goes without milk rather than buying other popular brands of chocolate milk. Therefore,
Raul has a high: - Answer- brand loyalty
Hot Topic is a specialty retailer with an assortment that interests young teens.
Merchandise ranges from T-Shirts to music to Jewelry to makeup, all geared to the
interests of young teenagers. Therefore, Hot Topics is catering to a particular: - Answer-
Retail market segment
Resorts that specialize in massage and aromatherapy look to target health-conscious
people. Hence, they place advertisements in health and fitness magazines. Which
criterion for evaluating a market segment is seen in the example? - Answer- reachable
Ted's Tire Shop is a store that specializes in auto maintenance and tires. After making
sure that it is the consumers' consideration set, Ted can _________ to increase the
chances that the consumer will select its store for a visit. - Answer- Offer free fluid
checks with each oil change as a new benefit
_____ describes the voluntary actions taken by a company to address the ethical,
social, and environmental impacts of its business operations and the concerns of its
stakeholders. - Answer- Corporate social responsibility
A retailer that is vertically integrated: - Answer- performs more than one activity in the
distribution channel.
, A _____ refers to the market toward which a retailer will direct its efforts. - Answer-
target market
an example of a decision that involves business ethics is when a retailer decides to -
Answer- have its salespeople adopt a high-pressure sales approach when dealing with
all costumers
In terms of evolving retail, what affect did the COVID-19 pandemic have on retail in
general? - Answer- it drove the need to improve difital reaileing channels
Marvin's is a large clothing retailer. The store offers over 1,000 brands and 50,000
different products. Which value-creating activity can best be seen in the given example?
- Answer- offering assortments
Rolfs and Martins are two large retailers in Canada. They compete with each other
using similar marketing strategies. Which form of competition is seen between these
two retailers - Answer- intratype competition
What factor has fueled the growth of small local retailers giving way to large
multinational chains? - Answer- the use of sophisticated analytical systems
When Manuelo saw pastries and coffee being sold at his local bookstore, he knew it
was an example of - Answer- scrambled merchandising
which statement is true of retailing activities in the bottom of the pyramid (bop) market?
- Answer- most people in BoP markets live in rural areas with limited access to mass
media
Bianca uses Twitter to market her handmade jewelry. She sets up a Twitter account
with the name @uniquedesignsbybianca and posts this on her Facebook page, making
sure to tweet every few days. Soon Bianca is selling a lot of necklaces. Bianca's Twitter
account is an example of - Answer- microblog
Carmela enjoys viewing the website for her favorite clothing store because part of the
space lets customers post pictures wearing their latest outfit from the fore. These
pictures give Carmela ideas of new ways to style her own clothing. Which of the 7Cs of
digital retailing framework does this demonstrate? - Answer- community
Companies can find out a lot about customers by listening to (and monitoring) what they
say on their social networks, blogs, reviews sites, and so on. One technique that firms
use to monitor such activity is called: - Answer- sentiment analysis
For retailers, engaging visitors, encouraging them to spend time viewing and interacting
with their website, and facilitating commerce all represent which element of the 7C
digital retailing framework? - Answer- core goals
ANSWERS ALL CORRECT
Which retail channel has the least perceived risk when purchasing products? - Answer-
stores
Which statement is true of the operations of multichannel retailers? - Answer- they need
to maintain a consistent image across channels
________ is a post consumption evaluation of how well a store or product meets or
exceeds customer expectations. - Answer- satisfaction
Changing importance weights is difficult because: - Answer- importance weights reflect
customers' personal values.
Every morning, Raul goes to one of the nearby convenience stores and buys a carton of
Green Farm's chocolate milk for breakfast. When the store is out of Green Farm Raul
goes without milk rather than buying other popular brands of chocolate milk. Therefore,
Raul has a high: - Answer- brand loyalty
Hot Topic is a specialty retailer with an assortment that interests young teens.
Merchandise ranges from T-Shirts to music to Jewelry to makeup, all geared to the
interests of young teenagers. Therefore, Hot Topics is catering to a particular: - Answer-
Retail market segment
Resorts that specialize in massage and aromatherapy look to target health-conscious
people. Hence, they place advertisements in health and fitness magazines. Which
criterion for evaluating a market segment is seen in the example? - Answer- reachable
Ted's Tire Shop is a store that specializes in auto maintenance and tires. After making
sure that it is the consumers' consideration set, Ted can _________ to increase the
chances that the consumer will select its store for a visit. - Answer- Offer free fluid
checks with each oil change as a new benefit
_____ describes the voluntary actions taken by a company to address the ethical,
social, and environmental impacts of its business operations and the concerns of its
stakeholders. - Answer- Corporate social responsibility
A retailer that is vertically integrated: - Answer- performs more than one activity in the
distribution channel.
, A _____ refers to the market toward which a retailer will direct its efforts. - Answer-
target market
an example of a decision that involves business ethics is when a retailer decides to -
Answer- have its salespeople adopt a high-pressure sales approach when dealing with
all costumers
In terms of evolving retail, what affect did the COVID-19 pandemic have on retail in
general? - Answer- it drove the need to improve difital reaileing channels
Marvin's is a large clothing retailer. The store offers over 1,000 brands and 50,000
different products. Which value-creating activity can best be seen in the given example?
- Answer- offering assortments
Rolfs and Martins are two large retailers in Canada. They compete with each other
using similar marketing strategies. Which form of competition is seen between these
two retailers - Answer- intratype competition
What factor has fueled the growth of small local retailers giving way to large
multinational chains? - Answer- the use of sophisticated analytical systems
When Manuelo saw pastries and coffee being sold at his local bookstore, he knew it
was an example of - Answer- scrambled merchandising
which statement is true of retailing activities in the bottom of the pyramid (bop) market?
- Answer- most people in BoP markets live in rural areas with limited access to mass
media
Bianca uses Twitter to market her handmade jewelry. She sets up a Twitter account
with the name @uniquedesignsbybianca and posts this on her Facebook page, making
sure to tweet every few days. Soon Bianca is selling a lot of necklaces. Bianca's Twitter
account is an example of - Answer- microblog
Carmela enjoys viewing the website for her favorite clothing store because part of the
space lets customers post pictures wearing their latest outfit from the fore. These
pictures give Carmela ideas of new ways to style her own clothing. Which of the 7Cs of
digital retailing framework does this demonstrate? - Answer- community
Companies can find out a lot about customers by listening to (and monitoring) what they
say on their social networks, blogs, reviews sites, and so on. One technique that firms
use to monitor such activity is called: - Answer- sentiment analysis
For retailers, engaging visitors, encouraging them to spend time viewing and interacting
with their website, and facilitating commerce all represent which element of the 7C
digital retailing framework? - Answer- core goals
