MAR3231 FSU Hopkins exam 4

Merchandising is most closely linked to the _______ aspect of the marketing mix.

a product

b place

c promotion

d price

A product

_________________ retail organizations are more likely to utilize multiple individuals as buyers instead of having one employee manage all of the merchandising functions.

a Larger

b Smaller

c Independently owned

d All of the above are correct

A larger

When creating the merchandising plan for an organization, management should consider the____.

a assortment of products

b variety of products

c promotion of products

d All of the answers are correct

D

The effective use of micromerchandising is based on accurate_____.

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a supply chain utilization

b organizational mission

c market segmentation

d vision statement

C market segmentation

When using_____, a retailer attempts to increase its average sale through placement of complementary goods and services.

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a impulse sales

b cross merchandising

c micromerchandising

d None of the above

b cross merchandising

The expected retail sales of a product or product category for given time periods is a ______.

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a sales perception

b sales analysis

c forecast

d none of the above

c forecast

A major advantage to a retailer's use of private (dealer) brands is _____.

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a the creation of store loyalty

b support by manufacturer advertising

c less retailer investment

d the extent to which they are pre-sold to customers

a

A retailer can most effectively track consumer purchases through _____.

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a want books

b want slips

c panel data

d consumer loyalty programs

d

Which of the following is not a merchandise source?

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a outside, new supplier

b resident buying office

c outside, regularly used supplier

d company-owned supplier

b

In the class lecture, I discussed how the Oliver Cabell brand recently announced a movement towards _____ in an attempt to differentiate their products from competitors.

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a transparency pricing

b using only sustainable materials

c increased quality control

d "name your price" pricing strategy

a

As discussed in class, the recent Fitbit stock price decrease (and subsequent price reduction) was most heavily influenced by which of the following factors?

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a manufacturers

b technology

c consumers

d competitors

d

A market skimming strategy should be used when consumer price elasticity of demand is _____.

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a inelastic

b elastic

c negative

d all of the above

a

Because millennials are not as concerned with owning homes (and thus less interested in buying nice furniture), the millennial customer's attitude towards furniture pricing would be described as _____.

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a more inelastic

b more elastic

c demand driven

d unchanged from previous generations

b

Medical marijuana retailers most often use a _____ strategy when first entering the market because in most cases, they are the only retailer of this type in the area, and the product they sell is medicinal in nature.

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a market penetration

b competition-oriented pricing

c discounted pricing

d market skimming

d

Which of the following statements explains why retail image is difficult to create and maintain?

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a Marketing budgets are different for different retailers

b Image is subjective and is influenced by personal taste or feelings

c Consumers are no longer brand loyal

d Image is objective and is based on factual information

b

In an online retail environment, atmosphere _____.

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a is not important because people only shop online to save money

b is easy to manage because of technology

c does not exist because there isn't a physical store

d none of the answers are correct

d

A straight traffic pattern is most often associated with _____.

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a Department Stores

b Off-Price Retailers

c Grocery Stores

d None of the answers are correct

c

A curving traffic pattern is at a disadvantage because of _____.

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a Possible customer confusion

b limited browsing opportunity

c it encourages rushed shopping behavior

d All of the answers are correct

a

A major difference between retailer and manufacturer advertising strategies is that small retailers _____.

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a have more geographically concentrated target markets than manufacturers

bcan't (in most cases) use national radio and television for advertising

c are more concerned with simply attracting customers to the store than developing an interest in a national brand

d All of the answers are correct

d

Manufacturers often partner with retailers to create joint promotional campaigns. This union is similar to the _____ strategies used by consumer packaged goods in which two known brands will partner to create one product.

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a Cobranding

b Partnership Branding

c Buzz Marketing

d Joint Marketing

a

An advertisement in a local newspaper that doesn't mention a brand name, but features a new innovation in ladies swimwear illustrates a(n) _____ ad.

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a Competitive

b Reminder

c Pioneer

d Institutional

c

The advantage of using _____ as a method of promotion is because the process used in the creation of a favorable image is flexible and not limited to traditional practices.

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a Publicity

b Advertising

c PR

d Discounts

c