In the retail trade customer thresholds refer to the number of customers: A)required to make a profit. B)a store can hold comfortably at any one time C)a store can take for health and safety reasons.

In the retail trade customer thresholds refer to the number of customers:
A)required to make a profit.
B)a store can hold comfortably at any one time
C)a store can take for health and safety reasons.
by

1 Answer

Answer :

A)required to make a profit.
by

Related questions

The wheel of retailing hypothesis suggests that: A)retailers tend to provide more limited services to customers as the business ages. B)new retailers enter the market with low prices, low profit margins and low status but eventually trade up. C)as retail firms' profits increase, the service they provide to customers increases but the cost of doing business decreases. D)a retail firm must grow to compete with other retail firms on an equal basis.

Description : The wheel of retailing hypothesis suggests that: A)retailers tend to provide more limited services to customers as the business ages. B)new retailers enter the market with low prices, low profit margins ... decreases. D)a retail firm must grow to compete with other retail firms on an equal basis.

Last Answer : B)new retailers enter the market with low prices, low profit margins and low status but eventually trade up.

Tracy, a waitress at the Riverfront Grill, is angry that a customer complained that his soup was cold due to slow service. Riverfront owner Max Griffin informs her that she must simply focus on service quality as defined by: A)health and safety guidelines. B)restaurant guidelines. C)the customer's perceptions. D)temperature guidelines.

Description : Tracy, a waitress at the Riverfront Grill, is angry that a customer complained that his soup was cold due to slow service. Riverfront owner Max Griffin informs her that she must simply ... health and safety guidelines. B)restaurant guidelines. C)the customer's perceptions. D)temperature guidelines.

Last Answer : C)the customer's perceptions.

Location is extremely important to a retailer because: A)suppliers charge more to service stores in certain trading areas. B)a desirable location appeals to consumers' emotions and encourages them to buy. C)location is the major determinant of store image. D)location determines the trading area from which the store must draw its customers. E)convenient location is an essential customer service.

Description : Location is extremely important to a retailer because: A)suppliers charge more to service stores in certain trading areas. B)a desirable location appeals to consumers' emotions and encourages them ... which the store must draw its customers. E)convenient location is an essential customer service.

Last Answer : D)location determines the trading area from which the store must draw its customers.

An appliance manufacturer that sells to large retail stores, wholesalers, and institutions would probably organise its marketing unit on the basis of A)subregions. B)national divisions. C)types of customers. D)functions.

Description : An appliance manufacturer that sells to large retail stores, wholesalers, and institutions would probably organise its marketing unit on the basis of A)subregions. B)national divisions. C)types of customers. D)functions.

Last Answer : C)types of customers.

When a business has a relatively small number of customers, a useful method of forecasting is: A)time series analysis B)the delphi technique C)trend analysis D)a customer forecasting survey

Description : When a business has a relatively small number of customers, a useful method of forecasting is: A)time series analysis B)the delphi technique C)trend analysis D)a customer forecasting survey

Last Answer : D)a customer forecasting survey

A __________ is a retail establishment that combines supermarket and discount store shopping in one location. A)superstore B)department store C)category killer D)hypermarket E)megamarket

Description : A __________ is a retail establishment that combines supermarket and discount store shopping in one location. A)superstore B)department store C)category killer D)hypermarket E)megamarket

Last Answer : D)hypermarket

13) Which of the following is the least flexible of the strategic retailing issues? A)Atmosphere B)Scrambled merchandising C)Retail positioning D)Store image E)Location

Description : 13) Which of the following is the least flexible of the strategic retailing issues? A)Atmosphere B)Scrambled merchandising C)Retail positioning D)Store image E)Location

Last Answer : E)Location

The step or stage of the personal selling process in which the salesperson attempts to make a favorable impression, gather information about the customer's needs and objectives, and build rapport with the prospective customer is called A)prospecting. B)preapproach. C)approach. D)making the presentation. E)overcoming objections.

Description : The step or stage of the personal selling process in which the salesperson attempts to make a favorable impression, gather information about the customer's needs and objectives, and build rapport ... called A)prospecting. B)preapproach. C)approach. D)making the presentation. E)overcoming objections.

Last Answer : C)approach.

A firm that wants to put more senior management personnel into the field to get closer to customers and to enable the company to respond more quickly and efficiently to competitors would probably organise its marketing unit on the basis of A)functions. B)regions. C)customer types. D)markets. E)products.

Description : A firm that wants to put more senior management personnel into the field to get closer to customers and to enable the company to respond more quickly and efficiently to competitors would probably organise its ... on the basis of A)functions. B)regions. C)customer types. D)markets. E)products.

Last Answer : B)regions.

A major problem with complex pricing structures is that they A)fail to generate the level of revenues needed by an organisation. B)confuse customers and lead to customer dissatisfaction. C)sometimes lead to regulation by governmental agencies. D)are almost always viewed as being deceptive by customers.

Description : A major problem with complex pricing structures is that they A)fail to generate the level of revenues needed by an organisation. B)confuse customers and lead to customer dissatisfaction. C) ... to regulation by governmental agencies. D)are almost always viewed as being deceptive by customers.

Last Answer : B)confuse customers and lead to customer dissatisfaction.

10) First National Bank launches an innovative in-home banking system tied to personal computers. The product is not widely accepted because bank customers don't see the need for such a service. This situation represents a failure in which A)Establishment of a customer information system B)Organisation structure C)Top management commitment D)Technological advance E)Scanning corporate capabilities

Description : 10) First National Bank launches an innovative in-home banking system tied to personal computers. The product is not widely accepted because bank customers don't see the need ... B)Organisation structure C)Top management commitment D)Technological advance E)Scanning corporate capabilities

Last Answer : A)Establishment of a customer information system

The result of a stockout is usually an: A)increase in inventory costs. B)increase in lost sales. C)increase in net profit. D)increase in customers.

Description : The result of a stockout is usually an: A)increase in inventory costs. B)increase in lost sales. C)increase in net profit. D)increase in customers.

Last Answer : B)increase in lost sales.

Assisting the producer's customers in selling to their own customers is the major purpose of which type of salesperson? A)Trade salesperson B)Technical salesperson C)Missionary salesperson D)Order getter E)Order taker

Description : Assisting the producer's customers in selling to their own customers is the major purpose of which type of salesperson? A)Trade salesperson B)Technical salesperson C)Missionary salesperson D)Order getter E)Order taker

Last Answer : C)Missionary salesperson

Marsha Hemlock, a trained engineer, is a salesperson for a chemical manufacturer. She provides current customers with advice about a product's characteristics and applications. She is a A)missionary salesperson. B)trade salesperson. C)field order taker. D)inside order taker. E)technical salesperson.

Description : Marsha Hemlock, a trained engineer, is a salesperson for a chemical manufacturer. She provides current customers with advice about a product's characteristics and applications. She is a A)missionary salesperson. B)trade salesperson. C)field order taker. D)inside order taker. E)technical salesperson.

Last Answer : E)technical salesperson.

A sales representative for Coca -Cola travels to various shops and restaurants to determine how much syrup the customer needs for the coming period. The sales representative would be classified as which one of the following types of sales A)Order getter B)Inside order taker C)Field order taker D)Missionary salesperson E)Trade salesperson

Description : A sales representative for Coca -Cola travels to various shops and restaurants to determine how much syrup the customer needs for the coming period. The sales representative would be classified ... )Order getter B)Inside order taker C)Field order taker D)Missionary salesperson E)Trade salesperson

Last Answer : C)Field order taker

The two groups of order takers are A)current customer salespersons and new -business salespersons. B)missionary salespersons and trade salespersons. C)inside order takers and field order takers. D)trade salespersons and technical salespersons. E)advisory order takers and support order takers.

Description : The two groups of order takers are A)current customer salespersons and new -business salespersons. B)missionary salespersons and trade salespersons. C)inside order takers and field order takers. D)trade salespersons and technical salespersons. E)advisory order takers and support order takers.

Last Answer : E)advisory order takers and support order takers.

Cultural differences have implications for the development of a marketing mix. Culture includes A)a country's political system and national laws. B)the concepts, values, and tangible items that make up a particular society. C)a measure of a nation's economic standing. D)quotas on imports and stringent health and safety requirements. E)the stability of the government.

Description : Cultural differences have implications for the development of a marketing mix. Culture includes A)a country's political system and national laws. B)the concepts, values, and tangible items ... )quotas on imports and stringent health and safety requirements. E)the stability of the government.

Last Answer : B)the concepts, values, and tangible items that make up a particular society.

. At the Melting Moments, an ice cream parlour, customers place their orders, watch their ice- cream sundaes being prepared, and then quickly eat the sundaes in the store before the ice cream melts. This is an example of a characteristic of services known as A. Inseparability B. Intangibility C. Heterogeneity D. Perishability E. Dependency

Description : . At the Melting Moments, an ice cream parlour, customers place their orders, watch their ice- cream sundaes being prepared, and then quickly eat the sundaes in the store before the ice cream ... known as A. Inseparability B. Intangibility C. Heterogeneity D. Perishability E. Dependency

Last Answer : D. Perishability

All of the following are social responsibility issues related to the environment, or green marketing, EXCEPT; A)water pollution. B)air pollution. C)conservation. D)land pollution. E)safety and health.

Description : All of the following are social responsibility issues related to the environment, or green marketing, EXCEPT; A)water pollution. B)air pollution. C)conservation. D)land pollution. E)safety and health.

Last Answer : E)safety and health.

All of the following are social responsibility issues related to community relations EXCEPT: A)equality. B)pollution. C)disadvantaged members of society. D)safety and health.

Description : All of the following are social responsibility issues related to community relations EXCEPT: A)equality. B)pollution. C)disadvantaged members of society. D)safety and health.

Last Answer : B)pollution.

Switching costs refer to the: A. Cost to a producer to exchange equipment in a facility when new technologies emerge. B. Cost of changing the firm’s strategic group. C. Costs suppliers incur when selling to a different customer. D. Costs customers incur when buying from a different supplier.

Description : Switching costs refer to the: A. Cost to a producer to exchange equipment in a facility when new technologies emerge. B. Cost of changing the firm’s strategic group. C. Costs suppliers incur when selling to a different customer. D. Costs customers incur when buying from a different supplier.

Last Answer : Costs customers incur when buying from a different supplier.

Switching costs refer to the: A. Cost to a producer to exchange equipment in a facility when new technologies emerge. B. Cost of changing the firm’s strategic group. C. Costs suppliers incur when selling to a different customer. D. Costs customers incur when buying from a different supplier.

Description : Switching costs refer to the: A. Cost to a producer to exchange equipment in a facility when new technologies emerge. B. Cost of changing the firm’s strategic group. C. Costs suppliers incur when selling to a different customer. D. Costs customers incur when buying from a different supplier.

Last Answer : Costs customers incur when buying from a different supplier.

Price -Rite Carpets is located out -of- town, in a large, low -cost single storey building with no window displays and takes a minimilist approach to store ambiance and customer service. The Price -Rite store is an example of a: A)discount shed. B)warehouse club. C)speciality store. D)convenience store.

Description : Price -Rite Carpets is located out -of- town, in a large, low -cost single storey building with no window displays and takes a minimilist approach to store ambiance and customer service. The Price - ... an example of a: A)discount shed. B)warehouse club. C)speciality store. D)convenience store.

Last Answer : A)discount shed

A shopper approaches the store's manager and says that he has seen a blender on display he wishes to buy. The manager asks him to fill out an order form and someone from customer service would be happy to bring him a blender. The customer is shopping in a A)hypermarket. B)superstore. C)catalogue showroom. D)warehouse club. E)discount store.

Description : A shopper approaches the store's manager and says that he has seen a blender on display he wishes to buy. The manager asks him to fill out an order form and someone from customer service would ... shopping in a A)hypermarket. B)superstore. C)catalogue showroom. D)warehouse club. E)discount store.

Last Answer : C)catalogue showroom.

To expand the number of its retail outlets in Ireland, the Dress Barn merged with a small chain of women's apparel stores in the West of Ireland. This type of integration is called: A)vertical. B)retail. C)horizontal. D)backward. E)forward.

Description : To expand the number of its retail outlets in Ireland, the Dress Barn merged with a small chain of women's apparel stores in the West of Ireland. This type of integration is called: A)vertical. B)retail. C)horizontal. D)backward. E)forward.

Last Answer : C)horizontal

13) A high -contact service is one in which A)the customer and service provider must meet frequently. B)the customer must be physically present to receive the service. C)the service provider must be present when the service is provided. D)a great deal of physical touching is required.

Description : 13) A high-contact service is one in which A)the customer and service provider must meet frequently. B)the customer must be physically present to receive the service. C)the service provider must be present when the service is provided. D)a great deal of physical touching is required.

Last Answer : B)the customer must be physically present to receive the service.

The buyer at Exeter Furniture Store is informed that if she will increase her recent order of fifteen mattress sets to twenty, she will receive a 14 percent price reduction. This offer is due to a recent overstock condition at the factory and will not be available in the future. The discount offered here is A)cash. B)noncumulative. C)seasonal. D)trade. E)cumulative.

Description : The buyer at Exeter Furniture Store is informed that if she will increase her recent order of fifteen mattress sets to twenty, she will receive a 14 percent price reduction. This offer is due to a ... future. The discount offered here is A)cash. B)noncumulative. C)seasonal. D)trade. E)cumulative.

Last Answer : B)noncumulative.

Jane Downe is planning to open an upmarket dress boutique. She is evaluating ease of movement to and from sites, vehicular traffic, types of stores in the area, and transportation networks. Which strategic retailing issue is she concerned with at this time? A)Location B)Product depth C)Product mix D)Scrambled merchandising E)Retail positioning

Description : Jane Downe is planning to open an upmarket dress boutique. She is evaluating ease of movement to and from sites, vehicular traffic, types of stores in the area, and transportation networks. ... at this time? A)Location B)Product depth C)Product mix D)Scrambled merchandising E)Retail positioning

Last Answer : A)Location

A retail establishment that is open twenty -four hours a day A)will have higher sales than other retailers. B)provides time utility. C)is adhering to the marketing concept. D)provides form utility. E)is production -oriented.

Description : A retail establishment that is open twenty-four hours a day A)will have higher sales than other retailers. B)provides time utility. C)is adhering to the marketing concept. D)provides form utility. E)is production-oriented.

Last Answer : B)provides time utility.

At one time, generic brands represented about 10 percent of all retail grocery sales. Today they account for A)considerably less. B)considerably more C)about the same.

Description : At one time, generic brands represented about 10 percent of all retail grocery sales. Today they account for A)considerably less. B)considerably more C)about the same.

Last Answer : A)considerably less.

usan has left her parents home and moved into a new flat. She is spending considerable time and effort comparing the ranges of furniture in different retail stores. Which type of decision-making process is she using? A)Selective B)Intensive C)Extensive D)Shopping E)Routine

Description : usan has left her parents home and moved into a new flat. She is spending considerable time and effort comparing the ranges of furniture in different retail stores. Which type of decision-making process is she using? A)Selective B)Intensive C)Extensive D)Shopping E)Routine

Last Answer : C)Extensive

When Nike first opened its company -owned retail stores to sell its shoes and sportswear, this move exemplified which type of business -unit strategy? A)Concentric diversification B)Market development C)Product development D)Conglomerate diversification E)Forward integration

Description : When Nike first opened its company -owned retail stores to sell its shoes and sportswear, this move exemplified which type of business -unit strategy? A)Concentric diversification B)Market development C)Product development D)Conglomerate diversification E)Forward integration

Last Answer : E)Forward integration

If a pull policy is to be used in promoting a product, the firm A)promotes directly to consumers. B)promotes only to the next marketing institution down the marketing channel. C)promotes the product to retail stores only. D)promotes the product to wholesalers only.

Description : If a pull policy is to be used in promoting a product, the firm A)promotes directly to consumers. B)promotes only to the next marketing institution down the marketing channel. C)promotes the product to retail stores only. D)promotes the product to wholesalers only.

Last Answer : A)promotes directly to consumers.

Ken Adams tells the loan officer at Allied Irish Bank that Cork really needs a shop that offers high -quality fishing gear to sports enthusiasts and provides the service and advice that so many people need. No other shop in the area seems to provide this combination. Ken is trying to use ------ to support his request for a loan to start such a retail operation. A)product assortment B)location analysis C)product mix depth D)retail positioning

Description : Ken Adams tells the loan officer at Allied Irish Bank that Cork really needs a shop that offers high -quality fishing gear to sports enthusiasts and provides the service and advice that so ... such a retail operation. A)product assortment B)location analysis C)product mix depth D)retail positioning

Last Answer : D)retail positioning

Tupperware, Amway, and Avon sell products outside the confines of retail facilities. They are A)discount retailers. B)traditional retailers. C)speciality retailers. D)nonstore retailers. E)home delivery retailers.

Description : Tupperware, Amway, and Avon sell products outside the confines of retail facilities. They are A)discount retailers. B)traditional retailers. C)speciality retailers. D)nonstore retailers. E)home delivery retailers.

Last Answer : D)nonstore retailers.

A retailer is an organisation that purchases products for the purpose of reselling them to A)other retail organisations . B)the government. C)ultimate consumers. D)wholesalers.

Description : A retailer is an organisation that purchases products for the purpose of reselling them to A)other retail organisations . B)the government. C)ultimate consumers. D)wholesalers.

Last Answer : C)ultimate consumer

The strategy of identifying an attractive market segment and serving it in a way that differentiates the retailer from others in consumers' minds is termed: A)product positioning B)niche retailing C)retail positioning D)merchandise policy

Description : The strategy of identifying an attractive market segment and serving it in a way that differentiates the retailer from others in consumers' minds is termed: A)product positioning B)niche retailing C)retail positioning D)merchandise policy

Last Answer : C)retail positioning

A firm mails brochures and coupons to potential consumers who can then purchase products by mail or by phone. This illustrates which of the following methods of selling retail products? A)Direct -response marketing B)Party plan C)Catalogue marketing D)Speciality retailing E)Direct selling

Description : A firm mails brochures and coupons to potential consumers who can then purchase products by mail or by phone. This illustrates which of the following methods of selling retail products? A)Direct-response marketing B)Party plan C)Catalogue marketing D)Speciality retailing E)Direct selling

Last Answer : A)Direct-response marketing

You have returned from a trip where you enjoyed free parking all day, shopped at IKEA and Toys 'r' Us, lunched in a burger bar, and went to a cinema in the afternoon before joining the motorway for the journey home. It is likely your trip was to: A)a central business district. B)a suburban centre. C)an edge -of-town shopping area. D)a retail park.

Description : You have returned from a trip where you enjoyed free parking all day, shopped at IKEA and Toys 'r' Us, lunched in a burger bar, and went to a cinema in the afternoon before joining the motorway for the ... business district. B)a suburban centre. C)an edge -of-town shopping area. D)a retail park.

Last Answer : D)a retail park.

3) You would expect to find Marks and Spencer, Debenhams and Boots in an area known as the ----------- in a town or city. A)central business district B)prime pitch C)retail zone D)central trading area.

Description : 3) You would expect to find Marks and Spencer, Debenhams and Boots in an area known as the ----------- in a town or city. A)central business district B)prime pitch C)retail zone D)central trading area.

Last Answer : B)prime pitch

Wholesaling is best defined as A)all transactions in which products are bought for resale, for making other products, or for general business operations. B)all transactions made at retail outlets only. C)all transactions in which purchases are for production of other goods only. D)all marketing activities necessary to expedite exchanges to ultimate consumers.

Description : Wholesaling is best defined as A)all transactions in which products are bought for resale, for making other products, or for general business operations. B)all transactions made at retail ... of other goods only. D)all marketing activities necessary to expedite exchanges to ultimate consumers.

Last Answer : A)all transactions in which products are bought for resale, for making other products, or for general business operations

Warner Bros. sells cookie jars, puzzles, photo albums, and other items featuring its popular cartoon characters directly through its retail outlets. This is an example of A)channel leadership. B)channel co -operation. C)channel conflict D)horizontal channel integration. E)vertical channel integration..

Description : Warner Bros. sells cookie jars, puzzles, photo albums, and other items featuring its popular cartoon characters directly through its retail outlets. This is an example of A)channel leadership. ... co -operation. C)channel conflict D)horizontal channel integration. E)vertical channel integration..

Last Answer : E)vertical channel integration..

Louis Vuitton makes luggage available through both department stores and its own retail outlets. This is an example of A)dual distribution. B)vertical integration. C)horizontal integration. D)tying agreements. E)exclusive dealing.

Description : Louis Vuitton makes luggage available through both department stores and its own retail outlets. This is an example of A)dual distribution. B)vertical integration. C)horizontal integration. D)tying agreements. E)exclusive dealing.

Last Answer : A)dual distribution.

Benetton, a leading manufacturer of knitwear, expanded its operations to include retail outlets in the United States and Europe. This type of integration is called A)horizontal. B)vertical. C)multilevel. D)retail. E)merchandising.

Description : Benetton, a leading manufacturer of knitwear, expanded its operations to include retail outlets in the United States and Europe. This type of integration is called A)horizontal. B)vertical. C)multilevel. D)retail. E)merchandising.

Last Answer : B)vertical

16) If L'Oreal management feels that the firm's new cosmetic line is in too few retail outlets and begins to seek additional speciality and department stores to carry the line, it is probably is in which stage of the product's life cycle? A)Introduction B)Growth C)Maturity D)Decline

Description : 16) If L'Oreal management feels that the firm's new cosmetic line is in too few retail outlets and begins to seek additional speciality and department stores to carry the line, it is probably is in which stage of the product's life cycle? A)Introduction B)Growth C)Maturity D)Decline

Last Answer : B)Growth

Jenkins is a small retail chain in South Wales. When considering changes in its marketing strategy, the firm's management looks only at changes in shopper attitudes and spending patterns. With regard to responding to environemntal forces Smith's approach can best be described as? A)passive and proactive B)aggressive and proactive C)dominant and proactive D)passive and reactive

Description : Jenkins is a small retail chain in South Wales. When considering changes in its marketing strategy, the firm's management looks only at changes in shopper attitudes and spending patterns. With ... )passive and proactive B)aggressive and proactive C)dominant and proactive D)passive and reactive

Last Answer : D)passive and reactive

Soft drink companies advertise that their products beat the competition in national "taste tests," and they refer to the rival brands by name. This type of advertising is best described as A)pioneer. B)competitive. C)comparative. D)defensive. E)selective.

Description : Soft drink companies advertise that their products beat the competition in national "taste tests," and they refer to the rival brands by name. This type of advertising is best described as A)pioneer. B)competitive. C)comparative. D)defensive. E)selective.

Last Answer : C)comparative.

Each of the following statements is true regarding the risk management plan except for which one? A. The risk management plan is an output of the Risk Management Planning process. B. The risk management plan includes a description of the responses to risks and triggers. C. The risk management plan includes thresholds, scoring and interpretation methods, responsible parties, and budgets. D. The risk management plan is an input to all the remaining risk-planning processes.

Description : Each of the following statements is true regarding the risk management plan except  for which one?  A. The risk management plan is an output of the Risk Management Planning process. B. The risk ... and budgets. D. The risk management plan is an input to all the remaining risk-planning processes.

Last Answer : B. The risk management plan includes a description of the responses to risks and  triggers.

Which of the following statements is true with regard to the relationship among audit risk, audit evidence, and materiality? a. The lower the inherent risk and control risk, the lower the aggregate materiality threshold. b. Under conditions of high inherent and control risk, the auditor should place more emphasis on obtaining external evidence and should reduce reliance on internal evidence. c. Where inherent risk is high and control risk is low, the auditor may safely ignore inherent risk. d. Aggregate materiality thresholds should not change under conditions of changing risk levels

Description : Which of the following statements is true with regard to the relationship among audit risk, audit evidence, and materiality? a. The lower the inherent risk and control risk, the lower ... inherent risk. d. Aggregate materiality thresholds should not change under conditions of changing risk levels

Last Answer : Under conditions of high inherent and control risk, the auditor should place more emphasis on obtaining external evidence and should reduce reliance on internal evidence

"The Customer Is Always Right"- Did you grow up hearing this and assuming it was some sort of law of trade beween businesses and customers? Do you personally believe in this enough to act up in public and blurt it out when you feel you should get your way?

Description : "The Customer Is Always Right"- Did you grow up hearing this and assuming it was some sort of law of trade beween businesses and customers? Do you personally believe in this enough to act up in public and blurt it out when you feel you should get your way?

Last Answer : Having worked in retail for several years, I can assure you that the Customer is almost always wrong. ;) That said, it is often in the business' best interest to act as though the customer is right ... , though, the actually right customers didn't tend to be the ones to bring up that dreaded phrase.