MRKT 495 Quiz Questions

Quiz 1: Primary forces during Wave II include

All of the above (Demand Creation, Lifestyle Branding, Mass Markets)

Quiz 7-2: VF Corporation

All of the above (Is a leader in consumer responsiveness, Is the largest and most diversified apparel and footwear company in the US, Has a highly collaborative value chain)

Quiz 4: The books sees retail evolving to the following sectors:

All of the above (commoditization, omni-brand to consumer, liquidation)

Quiz 5-1: A brand that is successfully managing neurological connectivity is

Converse

Quiz 7-2: TJX Companies

Create neurological connectivity by the thrill of the hunt shopping experience

Quiz 4: According to the book, the Demand Side of Wave IV sees a customer shift from Conformity to _________________________

Customization

Quiz 5-2: To manage preemptive distribution retailers need to execute a strategy of

Developing an omnichannel strategy

Quiz 3: According to the book Big Data is more of a help to consumers than retailers

FALSE, Big data is more helpful to retailers than consumers

Quiz 5-1: To manage neurological connectivity retailers

Focus on delivering one of the six value shifts

Quiz 8: Sears was a successful early mover in

House branded merchandise

Quiz 5-2: According to the book preemptive distribution

Is a requirement for retailers, brands, and services to compete

Quiz 7-2: Which of the following companies is NOT "one of the great ones"

Macy's

Quiz 2: During Wave III

Markets were Consumer driven

Quiz 2: Retail square footage per capita in the US during Wave III was

More than twice the space of Western Europe

Quiz 9: The 3 Imperative Strategic Operating Principles are:

Neurological Connectivity, Preemptive Distribution, Value Chain Control

Quiz 1: During Wave I

Production was chasing demand, brands were single product focused, the population was largely rural and the Sears Catalog was a major channel

Quiz 1: Ron Johnson was hired from Apple to turn around JCPenney's

Ron Johnson only lasted about one year at JCPenney's before being fired after retails sales fell by $5B

Quiz 5-2: One way to manage preemptive distribution is to

Share distribution with the enemy

Quiz 7-1: A New Rules brand store

Smaller than department stores, creates a captive environment, and customers are in and out quickly

Quiz 3: According to the book the introduction of the ________________________ made the consumer omnipotent

Smartphones

Quiz 3: Chapter 4 identified these individuals as major influencers in Wave IV

Steve Jobs and Jeff Bezos

Quiz 4: The Supply Side of Wave IV will see a shift from Store as Place to

Store as Brand

Quiz 2: An example of the drivers responsible for the rapid expansion of retail space in Wave III was the emergence and rapid expansion of retailers like ________________________

Walmart (category killers)

Quiz 5-3: The book distinguishes value chain from supply chain by

Who and where value is created from production to point-of-sale

Quiz 8: Sears was:

able to see transition but unsuccessful at transitioning from wave II to wave III

Quiz 6: Moving forward, the New Rules of Retail

expects to see an INCREASE in private brands. (More money goes to bottom line)

Quiz 5-1: According to the book neurological connectivity

is a requirement for Retail brands and services to compete

Quiz 6: According to the book the traditional business model

is collapsing under new rules of retail

Quiz 7-1: In the New Rules Paradigm a new universally acknowledged truth is

one brand covers all product categories and consumer segments is dead

Quiz 5-3: According to the book retailers need to

retailers need to control the value chain

Quiz 7-1: In the New Rules of Retail

sales associates play a critical role

Quiz 6: Traditional Department Stores

show significant loss in sales from 1990-1013

Quiz 8: In the Shift from Wave I to Wave II Sears

successfully transitioned from catalogs to stores

Quiz 5-3: The book believes retailers need to increase collaboration with

vendors, consumers, internal partners