Test 4 - Question 1 1 1 point To be successful in retailing...

Info icon This preview shows pages 1–5. Sign up to view the full content.

Question 1 1 / 1 point To be successful in retailing today, given the slower population growth rate, retailers will grow by: Question options: A) taking away sales from competitors. B) reducing the number of stores they have. C) having their industry legislated as a monopoly. D) accusing their competitors of unfair competition. E) reducing customer services. Question 2 1 / 1 point High-profit performance retailers must always be on the offensive in their study of the changing competitive environment, especially its _____ competition. Question options: A) loca l B) statew ide C) nation wide D) world wide E) indus try Question 3 1 / 1 point A retailer who has already done a great job of developing a strategy: Question options:
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

A) should also be aware of changes on th national retailing scene, but need not concern itself with local changes. B) need not worry what competitors are doing. C) should never be seen visiting a competitor's store. D) must make sure that its fixed costs exceed its variable costs. E) must always remember that no retaile ever design a strategy that will totally insulate it from the actions of compet Question 4 1 / 1 point A market offers rows of exotic produce, fresh prime meats, seafood flown in fresh, a bakery filled with artisan breads and over 220 cheeses. This market is competing for customers on which major front? Question options: A) The price for the value offered B) Service level C) Product selection D) Location or access E) Employee compensation Question 5 1 / 1 point Retailers compete for customers on five major fronts or factors. Which of the following is NOT one of the major fronts retailers compete for target customers? Question options:
Image of page 2
A) The price for the value offered B) Service level C) Product selection D) Customer experience E) Employee compensation Question 6 1 / 1 point What type of competitive environment is characterized by a horizontal demand curve, where the retailer must sell all of its merchandise at the going "market" or equilibrium price? Question options: A) Perfect competitio n B) Oligopolistic competition C) Pure competiti on D) Pure monopol y E) Monopolistic competition Question 7 1 / 1 point _____ is marked by many retailers, all selling very similar products with ease of entry for both buyers and sellers. Question options: A) Pure competiti
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

on B) Oligopolistic competition C) Fair competiti on D) Level competitio n E) Pure profit competition Question 8 1 / 1 point _____ describes a situation where consumers already have one unit of an item and as a result place a lower value on an additional unit. Question options: A) Decreasing marginal revenue B) Leveling product usage C) Monopolisti c decline D) Declining marginal utility E) The law of diminishing markets Question 9 1 / 1 point Which of the following factors is NOT characteristic of a market experiencing pure competition?
Image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.
  • Spring '14
  • Monopoly, Question options, dawn, supercenter, Samantha Toller

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern