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
