Retail final
Which of the following is NOT a disadvantage of locating in a shopping mall?
Many different assortments are available to consumers.
Dunkin' Donuts has been opening new stores outside its traditional target market in the northeastern United States. Opening new stores in new markets is an example of which growth opportunity?
Market Expansion
In some markets, Starbucks is known for having "a store on every corner." Opening more stores in a target market as a means of attracting more customers from that existing market is an example of which growth opportunity?
Market Penetration
Clark was late to work one morning and decided to use the McDonald's drive-through for his morning cup of coffee. Normally, a coffee drinker loyal only to Starbuck's, Clark was more interested in speed due to his tardiness. Which of the following best describes Clark's shopping situation?
Convenience shopping.
The source of a message has an impact on whether the message will be accepted or not. Two particularly important source characteristics are ________.
Credibility and attractiveness.
People have many roles or identities. What does this mean for marketers as they develop product pitches and promotional placements?
Marketers need to place advertising messages in contexts in which people are likely to be well aware of the related role identity.
Which of the following is NOT a benefit of a freestanding site?
Heavy foot traffic
Which of the following statements is true about the spending potential index?
It compares the local average expenditure by product to the national average amount spent.
What is true about sustainable competitive advantage?
It is not easily copied by the competitors.
What is inventory turnover used to evaluate?
It is used to see how quickly retailers sell their investment in inventory.
Which of the following is an advantage of the use of sophisticated distribution and information systems?
It offers an opportunity for the retailer to reduce operating costs.
Which of the following is NOT an advantage of locating in a central business district (CBD)?
Little security is required
According to the Huff Gravity Model, the two factors which attract consumers to a store location are:
The attractiveness of the store's location and the time it takes to travel to the store.
Consumers who have ___________ are particularly good targets for marketing communications that use fantasy appeals
a large gap between their real and ideal selves
Which of the following product purchases is consistent with Tonya's ideal self?
a tradmill
The ______ threshold refers to the minimum amount of stimulation that can be detected on a sensory channel
absolute
What is the unconditioned response to the stimulus? (A. positive/warm feelings. B. a concern for protection. C all of the above.)
all of the above
Which of the following statements concerning return on assets (ROA) is true:
all of the above
When using the ______, the retailer simply describes the site and trade area characteristics for its most successful stores and attempts to find a site with similar characteristics.
analog model.
The retailers that attract a significant number of consumers and consequently make the center more appealing for other retailers are ________ stores.
anchor
A(n) _______ is a lasting, general evaluation of people (including oneself), objects, advertisements, or issues
attitude
What is not a responsibility of the shopping center property management firm?
provide temporary holiday sales staff for retailers.
If you had $50,000 and you wanted to invest in stocks of high-performing companies, which of the following ratios would best help you to decide on your investment.
return on assets
Although retailers gain economies of scale from opening multiple locations in an area, they also suffer diminishing returns associated with locating too many additional stores in an area. This is called:
sales cannibalization
The __________ summarizes the beliefs a person holds about his own attributes and how he evaluates the self on these qualities.
self-concept
___________ refers to the positivity of a person's self-concept
self-esteem
According to __________ models, we choose products with attributes that match some aspect of ourselves.
self-image congruence
When a gas station blows "fresh coffee smells" around the gas pumps to tempt customers to come inside for a cup, the gas station is using a form of _________ marketing to influence
sensory
Which theory of attitudes assumes that people assimilate new information about attitude objects in light of what they already know and feel, using an initial attitude as a frame of reference to categorize new information?
social judgement theory
The grouped location approach is based on the principle of _______ which states that a cluster of similar and complementary retailing activities will generally have greater drawing power than isolated stores that engage in the same retailing activities
cumulative attraction
According to a major study of more than 1,000 commercials, the single most important factor in whether a commercial will be persuasive is whether the communication __________.
stresses a unique attribute or benefit of the product.
Most messages merely present one or more positive attributes about a product or reasons to buy it. Which of the following best describes this approach to communicating a message?
supportive arguments
Schnuck's Grocery store is located in St. Louis, Missouri. the owner has taken a map and has drawn three different sized shapes around the store's location. Those people that are located in only the largest shape being beyond a 15 minute drive radius of the store are in what's referred to as the store's _______.
tertiary trading area
A billboard is positioned beside a busy highway. however, the merchant that has purchased the billboard complains that no response is being generated by his advertising message. Upon closer inspection, the billboard company determines that the typeface used is too small to be effectively read by a motorist going 60+ mph on the highway. Which of the following sensory thresholds would be most appropriate to explain the failure of this advertisement to connect with motorists?
the absolute threshold
Which of the following theoretical models attitude toward the act of buying (Aact), rather than the attitude toward only the product itself?
the theory of reasoned action
Which theory of attitudes states that people are motivated to take action to resolve inconsistencies between attitudes and behaviors?
theory of cognitive dissonance
A contiguous geographic area that accounts for the majority of a store's sales and customers is called a _________.
trade area
__________ is the increased expansion of residential and shopping center development in suburban and rural areas outside of their respective urban centers.
urban sprawl
A retailer decides to reduce the price of a sport coat that normally costs $98. The reduction in price is $3. The storeowner believes that the reduction will catch the eye of the value shopper. If the sport coat does not sell, the retailer might wish to consider which of the following before making another price change?
weber's law
Which of the following retailers would be the most dependent on traffic counts?
7-eleven
The emerging international markets that receive the most attention from global retailers are collectively referred to as the ______ countries.
BRIC
Why are airports such a profitable place to have a retail business?
Changes in security have encouraged travelers to arrive earlier and make more purchases after they go through security.
My favorite quilt shop LLC offers members of their Fabric Lovers Club merchandise worth $20 for every $200 they purchase plus additional discounts on classes and new fabric lines. The fabric Lovers Club LLC is a good way to develop:
Customer loyalty
Home Depot built a wholesale supply business called HD supply. This introduction of a new retail format directed toward a market segment that's not currently served by the retailer is an example of which growth.
Diversification
Which of the following characteristics is most likely to be the least sustainable competitive advantage?
More sales promotions
In instrumental conditioning, what is the distinction between negative reinforcement and punishment?
Negative reinforcement occurs when a negative outcome is avoided, while punishment occurs when an action causes a negative outcome
As Leah drove down Fairfax Road, she noticed a group of adjacent stores. In the group, she saw a hair salon, a pizzeria, a supermarket, an optometrist, and a grocery store. All the stores had entrances into a parking lot, which was landscaped with trees and flowers. What type of shopping center is this?
Neighborhood and community shopping center.
Here in Clarksville, Rafferty's is a standalone building located on the premises of the Governors Square Mall shopping center, but is not physically connected to the shopping center. Rafferty's is best described as located on/in a
Outparcel
If a woman get compliments after wearing Obsession perfume, she is more likely to keep buying the product and wearing it. What type of instrumental conditioning has occurred in the situation?
Positive reinforcement
The objective of Huff gravity model is to:
Predict the probability that a customer will patronize a store.
As we have discussed in class, Wal-mart operates super centers, discount stores, and neighborhood markets in the same market. Developing a new retail mix for the same target market is an example of which growth opportunity?
Retail Format Development.
In a related diversification growth opportunity, ___________.
The retailer's present target market and retail format shares something in common with the new opportunity.
What are reasons some consumers oppose big-box retailers entering their communities?
Their lower prices drive local retailers out of business. They hire part-time workers to avoid paying health benefits. They achieve lower prices by manufacturing merchandise outside the U.S., reducing the number of jobs for U.S. citizens.
Do fear appeal ads work? Which of the following best answers this question?
They work if the threat is moderate and when a solution to the problem is presented.
In this ad, what is the unconditioned stimulus? (The ad about tires with the baby in the tire and the quote "Michelin. Because so much is riding on your tires."
baby
_______________ refers to a strategy in which a message compares two or more specifically names or recognizably presented brands and evaluates them in terms of one or more specific attributes
comparative advertising
Classical conditioning takes place when a(n) _______ is continuously matched with a (n) ________
conditioned stimulus; unconditioned stimulus
Size, color, position, and novelty are all strategies for creating which of the following?
contrast
The mediterranean cafe features light cuisine and folk entertainment. It is located in the middle of an upper-class neighborhood. The owners are curious about where the customer base lives so that it can focus direct mail to those areas. For the last several weeks, employees scoped the parking lot noting license plate numbers so they could have a private research company trace them to the owners. Which of the following is the mediterranean cafe engaging in?
customer spotting
A(n) ______ is one in which the merchandise, selection, presentation, pricing, or other unique factors attract customers even if it is in an inconvenience location
destination store
The extended self is comprised of _______
external objects we consider a part of us.
If a conditioned stimulus is only occasionally matched with an unconditioned stimulus, the association between the two will become weakened. This is called ________.
extinction
Tonya is full-time collage student who has a part-time job. She thinks she is 15lbs overweight and wishes she could find time in her hectic schedule to work out so she could reach her ideal weight. Which of the following product purchases is consistent with Tonya's actual self?
fast food
Much learning takes effort and time, but some learning is so casual as to be unintentional. This type of learning is referred to as ______________ learning.
incidental
Sam Bolton hums the Purina Cat Chow jingle as he drives down the expressway. A thought suddenly occurs to Sam: "why am I humming this stupid jingle? I don't buy this stuff. In fact, I don't even have a cat." Sam knows this jingle through __________.
incidental learning
Researchers agree that there are various levels of commitment to an attitude. The highest level of involvement is ________.
internalization
Classical conditioning focuses on conditioning responses to _________ behaviors, while instrumental conditioning focuses on conditioning _______ behaviors
involuntary, voluntary
What is true about debt-to-equity ration?
it measures how much money a company can safely borrow over long periods of time.
Simi Ghandi is never quite sure which brand of gum to buy. She tries some, likes some, and rejects some. However, though a process of behavioral learning she does remember those brands that taste good and make her mouth feel fresh. The problem is that she cannot often remember the brands that are not so good and often repeats purchasing mistakes. "oh well," says Simi, "gum buying is not that big of a deal anyway." Which of the following hierarchies would best describe Simi's situation?
low-involvement hierarchy
After an hour-long cycling class, Betty felt good about her level of physical fitness. As she is leaving her fitness center, she sees three large banners advertising AdvoCare. The banners include close-ups of perfectly sculpted abs, "cut" shoulders, and long, lean legs. Within moments, Betty feels dissatisfied with her level of physical fitness. This is an example of how.......
marketers can influence self-esteem by triggering the process of social comparison.
In the ad, what is the conditioned stimulus?
michelin tires
With a goal of making it into the consumer's consideration set, a firm targeting customers engaged in comparison shopping should locate
near competing retailers
Because the brain's capacity to process information is limited, consumers are very selective about what they pay attention to and tend to select stimuli that relate to their current needs. This type of perceptual is called __________.
perceptual vigilance
What form of marketing is based on the premise that a marketer will be much more successful when he communicates with consumers who have already agreed to listen to him?
permission marketing
An active attempt to change attitudes is called __________
persuasion
Breanne was walking across campus to her chemistry lab when she noticed an area that had lingerie merchandise that was not there earlier in the week. This retail format would be an example of a _________
pop-up shop