Question 1

Within a particular product category, the variety and assortment of products carried by retailers tends to be very similar.

Accepted Answer

While some retailers may carry similar products in a product category, there can be significant variation in the variety and assortment of products offered. Factors such as target market, pricing strategy, and brand partnerships can all impact a retailer's product selection within a particular category.

Question 2

In-store retailing offers consumers the most payment options and is the only retailing format that easily accommodates cash payment.

Accepted Answer

In-store retailing allows consumers to pay with cash, credit cards, debit cards, mobile payments, and sometimes even checks. Other retailing formats, such as online shopping, may not accept all of these payment methods.

Question 3

Customers are longer satisfied interacting with a company or product based primarily on visiting a retail store.

Accepted Answer

False

Question 4

While popular in Latin America, Asia, and Europe, the real success of direct selling is in United States.

Accepted Answer

Direct selling is indeed popular in the United States, but it has seen significant success and growth in regions like Latin America, Asia, and Europe as well, often surpassing the U.S. in terms of market size and growth rates.

Question 5

Event marketing, including the Thanksgiving and Christmas Day parades, is not considered a service offered by Macy's.

Accepted Answer

Macy's is well-known for organizing and sponsoring events like the Thanksgiving Day Parade, which is a significant part of their marketing and public relations efforts.

Question 6

One of the oldest forms of retailing, catalog retailing has started to lose in popularity as two-income households often do not like shopping from home.

Accepted Answer

This statement is not necessarily true. While catalog retailing may have lost some popularity with the rise of online shopping, there are still consumers who enjoy the convenience and tactile experience of shopping from a physical catalog. Additionally, some households with two incomes may actually prefer catalog shopping as a way to save time and avoid crowded malls or stores.

Question 7

General merchandise retailers have become food retailers while conventional supermarkets still carry only food products.

Accepted Answer

Conventional supermarkets often carry a variety of non-food items, while general merchandise retailers have expanded to include food products.

Question 8

Consumers around the world want to purchase when they are ready and expect the product to be available on demand.

Accepted Answer

This statement is true. With the convenience of online shopping and the availability of fast shipping options, consumers have come to expect that products will be available when they are ready to purchase, rather than having to wait for a specific time or place to make their purchase.

Question 9

The primary advantage of the television home shopping retail format is the ability to show and demonstrate the product.

Accepted Answer

The television home shopping retail format allows for products to be shown and demonstrated, which is a primary advantage of this method of retailing.

Question 10

Companies create call centers around the world to handle regional customer traffic over the course of a 24-hour business cycle.

Accepted Answer

Companies often create call centers in different countries or time zones in order to provide round-the-clock customer service and support to customers in different regions.

Question 11

Test-driving a car, trying on a sweater or dress, and watching a TV in the showroom are all examples of the single greatest benefit of store retailing, the ability to see, touch, and test the product.

Accepted Answer

This statement is true. The ability to physically interact with a product before making a purchase decision is a major advantage of traditional retail stores over online shopping.

Question 12

Despite profound changes, retail remains a small non-significant part of the supply chain and consumer marketing.

Accepted Answer

Retail is a significant part of the supply chain and consumer marketing as it involves the final stage of selling products or services to the end customer. Despite changes in the industry, retail plays a crucial role in driving sales and shaping consumer behavior.

Question 13

National brands tend to be supported with excellent product design, support, and marketing communications by their manufacturers.

Accepted Answer

National brands are typically backed by a strong marketing and product development team, which ensures that their products have excellent design and support backed by effective marketing communications to increase brand awareness and drive sales.

Question 14

While popular with consumers, vending machines are not particularly profitable.

Accepted Answer

Although popular with consumers, vending machines are not necessarily the most popular form of non-store retailing. Rising costs in labor, gasoline, and maintenance, coupled with a very competitive environment that limits price increases, keeps margins low.

Question 15

In evaluating a Web site, one of the key measures is its "stickiness," which refers to the length of time visitors remain at the site.

Accepted Answer

"Stickiness" is indeed a key measure in evaluating a website, and it refers to the length of time visitors stay on the site.

Question 16

A general rule in retailing is that broader, deeper product assortments and expanded service options require a higher price to cover increased costs.

Accepted Answer

This statement is true in retailing as broader assortments and expanded service options lead to increased costs such as inventory, staffing, and overhead, which require a higher price to cover.

Question 17

It is not common for multiple retailers to target the same group.

Accepted Answer

It is common for multiple retailers to target the same group, especially in competitive industries such as fashion or electronics.

Question 18

The growth of low-cost alternatives to conventional supermarkets has created a dramatic shift in the food retail market space.

Accepted Answer

The statement is true. The growth of low-cost alternatives such as discount stores and online grocery retailers has disrupted the traditional supermarket model and changed the landscape of the food retail market.

Question 19

From information search to purchase, the Internet gives consumers greater access to more choices and different product options.

Accepted Answer

The statement is true. The internet provides consumers with a vast amount of information and options to choose from when looking to purchase a product. This allows for greater access to different product options than traditional shopping methods would offer.

Question 20

The Internet has decreased the efficiency of B2B relationships through B2B sites that facilitate the exchange of products and services.

Accepted Answer

The statement is false. The Internet has actually improved the efficiency of B2B relationships through B2B sites that facilitate the exchange of products and services. These sites allow for faster communication, easier payments, and easier access to a larger pool of potential partners.

Quiz 16: Point of Customer Interface: Bricks and Clicks