Marketing Final Exam

Friendly products because it will be a specialty

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Unformatted text preview: ce, product assortment, and price. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Comprehension REF: 232 OBJ: 15-2 KEY: CB&E Model Distribution 3. Emily has just opened a health food store that sells organic foods, herbal supplements, and environmentally friendly products. Because it will be a specialty store, she should have a broad product assortment with moderately low prices. ANS: F Specialty stores have narrow product assortments and moderate to high prices. See Exhibit 15.1. PTS: 1 REF: 232 Thinking KEY: CB&E Model Distribution OBJ: 15-2 TOP: AACSB Reflective MSC: BLOOMS Application 4. A retailing establishment that sells a wide variety of shopping and specialty goods, including apparel, cosmetics, housewares, and electronics, would be classified as a department store. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Knowledge REF: 233 OBJ: 15-3 KEY: CB&E Model Distribution 5. Supermarkets are self-service retailers that specialize in food and food products, although many now carry nonfood items as well. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Knowledge REF: 234 OBJ: 15-3 KEY: CB&E Model Distribution 6. Jennifer owns a greeting card store where she also sells women’s purses, Crocs shoes for the whole family, Jibbitz charms, cell phone skins, Sandy Lion stickers, Yankee candles, Godiva chocolates, Precious Memories figurines, beaded jewelry, and stuffed animals. Jennifer uses multibrand merchandising. ANS: F This would be an example of scrambled merchandising because it involves offering nontraditional goods. There is no such thing as a multibrand. PTS: 1 REF: 234 Thinking KEY: CB&E Model Distribution OBJ: 15-3 TOP: AACSB Reflective MSC: BLOOMS Application 7. A typical discount store competes by carrying a limited line of high-turnover goods. ANS: F Discount stores compete on the basis of low prices, high turnover, and high volume. The strategy in the example describes a convenience store. PTS: 1 REF: 235 Thinking KEY: CB&E Model Distribution OBJ: 15-3 TOP: AACSB Reflective MSC: BLOOMS Comprehension 8. Flash Foods is the name of a chain of small stores that carry high-turnover products such as lip balm, milk, soda, beer, bread, and aspirin. Flash Foods stores are open all day every day and would best be classified as convenience stores. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Application REF: 235 OBJ: 15-3 KEY: CB&E Model Distribution 9. Supercenters are more than just larger versions of traditional “markets.” In addition to foodstuffs, supercenters have pharmacies, dry cleaners, portrait studies, photo finishing, hair salons, and restaurants. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Knowledge REF: 235 OBJ: 15-3 KEY: CB&E Model Distribution 10. Specialty discount stores are often called category killers because they dominate the competition in their narrow merchandise segment. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Knowledge...
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