Ch 14 Quiz (UT)

How does services retailing differ from goods retailing?

• Services retailing involves tangible products.

• Goods retailing requires more customer interaction.

• Services retailing often involves direct customer interaction.

• Goods retailing is more focused on customer service.

What is a key factor in executing retail marketing strategies?

• Ignoring market trends

• Focusing solely on product features

• Understanding customer behavior

• Reducing advertising efforts

In a franchise arrangement, who is responsible for day-to-day operations?

• Franchisor

• Franchisee

• Independent retailer

• Chain store manager

What defines a chain store?

• A retailer owned by a single person or partnership

• A store that is part of a group of the same stores owned by a single organization

• The originator of a trade name, product, and methods of operation

• An individual or business granted the right to sell another party’s product

In a franchise relationship, who grants the rights to operate and sell a product?

• Franchisee

• Independent retailer

• Franchisor

• Chain store

Which type of store has a narrow product assortment?

• Department store

• Specialty store

• Supermarket

• Drugstore

Which service level includes gift wrapping?

• Full service

• Low service

• Self-service

• No service

What is a feature of full service retail?

• Vending machine

• Customer handles acquisition

• Delivery

• Self-checkout

One of the functions of universal product codes (UPCs) is to:

• Allow products to be modified for improved sales.

• Help customers resell products that have no market value.

• Increase customer loyalty and brand value of a product.

• Help retailers track and record customer purchases.

Promotions that educate customers are especially important for __________ products.

• new
• old
• competitive
• noncompetitive