Chapter 14 Questions

Chapter 14 Questions - Chapter 14 Questions 1.

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Chapter 14 Questions 1. The fundamental difference between buying and merchandising is that  Your Answer: (blank) 2. A major advantage of a merchandising philosophy is that  Your Answer: it fosters the development of specialists.  Correct Answer: responsibility and authority are clear.    Review section on merchandising philosophy.  3. Which of the following is a type of scrambled merchandising?  Your Answer: Category management 
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Correct Answer: Cross-merchandising    Review section on merchandising philosophy.  4. The same personnel handle both merchandising and other retail tasks in which buying organization? Your Answer: Decentralized   Correct Answer: Informal    Review section on buying organization formats and processes.  5. Which of the following is not  an advantage of a formal buying organization?  Your Answer: The use of full-time, specialized merchandisers  Correct Answer: Low costs    Review section on level of formality.  6.
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Which type of buying organization is characterized by adaptability to local market conditions, little staff  support, and some loss of volume discounts? Your Answer: Informal  Correct Answer: Decentralized    Review section on buying organization formats and processes.  7. Which type of buying organization is most commonly used by small or medium-sized retailers or by  retailers that are located far from their supply sources? Your Answer: A resident buying office  Correct Answer: An outside organization    Review section on personnel resources.  8. Items such as milk, bread, and canned soup are examples of  Your Answer: seasonal merchandise. 
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Correct Answer: staple merchandise.    Review section on forecasts.  9. Products that have cyclical sales due to changing tastes and life-styles are  Your Answer: nostalgic merchandise.  Correct Answer: fashion merchandise.    Review section on forecasts.  10. A high level of sales is generated for a relatively short time with  Your Answer: fad merchandise.    Correct   11. A fashion which is first accepted by upscale consumers and undergoes changes in its basic form before it  is sold to the general public reflects a 
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Your Answer: horizontal life cycle.  Correct Answer: vertical trend.    Review section on innovativeness.  12. The number of distinct goods/service categories (product line) a retailer carries is referred to as the  Your Answer: depth of assortment.  Correct Answer: width of assortment.    Review section on assortment.  13. A retailer seeking to offer one-stop shopping and to generate customer loyalty would follow which retail 
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Chapter 14 Questions - Chapter 14 Questions 1.

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