Difficulty: Medium
Learning Objective: 01-05 Discuss different types of decisions retail managers make.
Topic: 01-12 Understanding the world of retailing
31. Which of the following would NOT be an example of intertype competition?
A. A supermarket and a fresh flower stand
B. A specialty store and a department store
C. A department store and a pharmacy
D. A convenience store and a fast food restaurant
E. A large grocery store in a rural area and a grocery store in a strip mall
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: Easy
Learning Objective: 01-05 Discuss different types of decisions retail managers make.
Topic: 01-12 Understanding the world of retailing
32. Walmart, Loblaws, and Future Shop are in what kind of competition?
A. channel
B. horizontal
C. indirect
D. intertype
E. intratype
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: Easy
Learning Objective: 01-05 Discuss different types of decisions retail managers make.
Topic: 01-12 Understanding the world of retailing
33. Increasing intertype competition has made it harder for retailers to identify their:
A. competition.
B. target market
C. merchandise mix
D. retail mix
E. market
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Medium
Learning Objective: 01-05 Discuss different types of decisions retail managers make.
Topic: 01-12 Understanding the world of retailing
34. The intensity of competition is greatest among retailers when:
A. price dominates the retail mix
B. they are located near each other and offer similar retail offerings
C. they are located near each other and target the same customer
D. they are located far from each other and offer similar retail offerings
E. they are located far from each other and target the same customer
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Hard
Learning Objective: 01-05 Discuss different types of decisions retail managers make.
Topic: 01-11 The Retail Management Decision Process
35. As part of a retailing strategy, a retailer looks to changes in demographics and responds to these changes with their retail mix. The following are examples of demographic trends except:
A. the growth of the elderly population.
B. the increased emphasis on customer service.
C. the growth of minority segments.
D. the rising number of two-income families.
E. the retirement of the Baby Boomers.
All choices other than the increased emphasis on customer service refer to demographics. The increased emphasis on customer service is part of a strategy a retailer may pursue to satisfy the needs of these particular customers.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Medium
Learning Objective: 01-05 Discuss different types of decisions retail managers make.
Topic: 01-13 Developing a retail strategy
36. Once a retailer understands its environment, it needs to develop and implement a(n):
A. retail strategy
B. advertising plan
C. customer base
D. competitive strategy
E. functional strategy
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 01-05 Discuss different types of decisions retail managers make.
Topic: 01-13 Developing a retail strategy
37. Lydia owns the Shake Shack, a small ice cream shop on a busy beach boardwalk that specializes in a variety of milkshakes, malts and cones. She has identified her customer as a person walking on the boardwalk-mostly vacationers who want something cool and quick with no frills. She located herself close to parking for easy access, unlike some of her competitors. Lydia seems to have developed a strong:
A. business concept
B. business plan
C. location strategy
D. retail strategy
E. selling strategy
A retail strategy identifies the target market, the merchandise or service the retailer offers to satisfy the needs of the market and how the retailer will build a long-term competitive advantage over its competitors.