Closure strategy is:
a. often referred to as a "retailer's cost management" strategy.
b. just getting shoppers into the store.
c. getting shoppers in the store and converting them into customers at the lowest operating cost possible.
d. often referred to as a retailer's traffic strategy.
e. having the right merchandise, using the right layout and display, and having the right sales force.
Answer: E
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Retailing Chapter 2
- As a general rule, retailers should strive for a net profit margin of:
- As a general rule, retailers should strive for an asset turnover of:
- As a general rule, retailers should strive for a financial leverage of:
- Which of the following is an incorrect statement regarding strategic planning?
- Most smaller retailers have more control over this important factor for successes than larger retailers:
- The aim of operations management is to:
- It is necessary for retail firms to strive for high-profit performance results:
- A fully-developed retail marketing strategy specifies the:
- A retailer's retail mix consists of all of the following EXCEPT:
- The retailer's _____ is a clear statement of the tangible and intangible results a customer receives from using the retailer's products or services.
- If a retail firm is attempting to determine the potential negative effects of a new competitor entering the market, it is assessing its:
- ____ signify what the retailer wants to accomplish, while _____ indicate how the retailer will attempt to achieve them.
- When a retailer is attempting to determine its major advantage(s) over competitors, it is analyzing its:
- If a retailer is assessing the remodeling needs of its stores, as well as evaluating the effect that the lack of a formal training program is having on the management of its establishments, the retailer is reviewing the firm's:
- If a retailer is attempting to determine which of the closely related areas of business are underdeveloped in its market, it is assessing its:
- A "retailer's cost management" strategy refers to:
- The analysis that provides management with a critical view of the organization's position relative to its internal and external environment is known as:
- Chandler Markus is the store manager for a large discount drugstore. Chandler allows his department managers to arrange the fixtures and schedule their employees as they see fit. According to Chandler's actions, the drugstore has set what kind of objective?
- Which of the following refers to a retailer's "traffic strategy"?
- The manager of a department store chose to use a percentage of the year's profits to help fund the Salvation Army's Thanksgiving Dinner for the Homeless. In reference to this sponsorship, the manager appears to have set what kind of objective?
- You have recently been hired by a small retailer in your area. During a discussion with the owner, you notice that the owner's primary objective for being in business is to provide the customer with a real alternative. The owner is primarily using a _____ objective to focus the business.
- A retail firm that is setting goals based on its desire to help society fulfill some of its needs is developing _____ objectives.
- Merchandise productivity:
- When a retailer uses productivity objectives, it is referring to the productivity of which resources?