MKT 310 WK 6 QUIZ 4 CHAPTER 9 & 10

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MKT 310 WK 6 QUIZ 4 CHAPTER 9 & 10

MKT 310 WK 6 Quiz 4 Chapter 9,10

1) The least flexible element of a retailer's strategy mix is ________.

A) merchandise assortment

B) human resources

C) pricing

D) location

2) The first step in choosing a store location is to ________.

A) determine whether to locate as an isolated store, in an unplanned business district, or in a planned shopping center

B) evaluate alternate geographic (trading areas) in terms of the characteristics of residents and existing retailers

C) select the general isolated business district or planned shopping-center location

D) analyze alternate sites contained in the specified retail location type

3) A trading area can best be defined as ________.

A) those competitive stores that interchange customers

B) stores that are located in the same shopping center or district

C) a geographic area containing customers of a particular firm or group of firms for specific goods and services

D) a designation of a retail area by the U.S. Census Bureau

4) A major benefit of a trading-area analysis is that it allows a retailer to determine ________.

A) the demographic and socioeconomic characteristics of consumers

B) a store's image

C) the psychographics of shoppers versus nonshoppers

D) the response of shoppers to promotional pricing

5) A major benefit of a thorough trading-area analysis is that it allows a retailer to ________.

A) increase sales at branch stores with high trading-area overlap

B) better match its target market profile with a medium's circulation

C) increase the degree of trading overlap among branch units

D) better understanding of an area's lifestyles

6) The determination of trading-area overlap is most important for ________.

A) regional shopping centers

B) shopping districts

C) chain retailers

D) independent retailers

7) A proposed location for a supermarket chain is within three miles of a current store. What is the major factor that management should study relative to both locations?

A) the trading area of the current location

B) the trading area of the proposed location

C) the trading-area overlap of both locations

D) the demographics of the trading area of each location

8) Which technique graphically depicts a trading area's characteristics?

A) geographic mapping

B) geographic information analysis

C) trading-area overlap analysis

D) semantic differential

9) Digitized mapping with key locational data are combined with

A) trading area analysis.

B) trading area overlap analysis.

C) geographic information systems.

D) TIGER maps.

10) Which statement concerning the U.S. Census Bureau's national digital map, TIGER, is not correct?

A) TIGER incorporates all streets and highways in the United States.

B) TIGER files are available free-of-charge.

C) TIGER maps include retail facilities and population characteristics.

D) Enhancements to TIGER are available from independent software firms.

11) Between 50 and 80 percent of a store's customers come from its ________ trading area.

A) secondary

B) primary

C) fringe

D) tertiary

12) The area that has the highest density of store customers to population is the ________ trading area.

A) secondary

B) primary

C) fringe

D) tertiary

13) The trading area with the highest average purchase by a customer is the ________.

A) primary trading area

B) parasite trading area

C) fringe trading area

D) secondary trading area

14) A retailer should concentrate the bulk of its promotional activity in its ________.

A) fringe trading area

B) secondary trading area

C) primary trading area

D) satellite trading area

15) A retailer's outshoppers come from its ________.

A) fringe trading area

B) secondary trading area

C) primary trading area

D) satellite trading area

16) Which trading area covers the greatest distance?

A) fringe trading area

B) secondary trading area

C) primary trading area

D) satellite trading area

17) The most widely dispersed group of customers can be found in which trading area segment?

A) trading area overlap

B) primary trading area

C) secondary trading area

D) fringe trading area

18) Primary, secondary, and fringe trading areas can be described on the basis of ________.

A) outshopping by consumers

B) the frequency with which people from various geographic localities shop at a particular store

C) customer store loyalty

D) the probability of large orders based upon customer residence

19) A store with a wide assortment of merchandise and a strong image in a particular merchandise category is a ________ store.

A) variety

B) department

C) destination

D) parasite

20) A store which does not have a real trading area of its own is a ________ store.

A) fringe

B) parasite

C) destination

D) convenience

21) A newspaper stand in a hotel lobby can best be described as a ________ store.

A) fringe

B) parasite

C) destination

D) convenience

22) In a regional shopping center, the store with the largest trading area is the ________ store.

A) department

B) variety

C) supermarket

D) gift

23) Which computer-based system classifies and describes communities by ZIP code, as well as census tracts?

A) American Community Survey

B) Editor & Publisher Market Guide

C) Nielsen Researcher

D) Claritas Corporation's PRIZM NE

24) The simplest and most popular form of computerized site selection model is ________.

A) corner influence

B) gravity

C) regression

D) analog

25) The regression computer site selection model ________.

A) utilizes a series of mathematical equations

B) evaluates store distance and image

C) analyzes competition, market share, and market size

D) studies population and driving distance

26) In Reilly's law of retail gravitation, the point of indifference is the ________.

A) customer's perceived similarity between two competing retailers

B) geographic breaking point area at which shoppers are indifferent to shopping at either of two cities

C) limit of a city's trading area in estimated driving time

D) limit of a city's primary trading area in driving distance

27) The major assumptions of Reilly's law are that two competing areas are equally accessible from a major road and that ________.

A) each city has an equal population

B) each city is equally distant from shoppers at the point of indifference

C) merchants in the two cities are equally effective

D) consumers are willing to travel for lower prices

28) Huff improved Reilly's law by adding which variable to the estimation of trading areas?

A) economic barriers

B) the effect of travel time on different kinds of shopping trips

C) median disposable income in each city

D) the existence of primary, secondary, and fringe trading areas

29) A major advantage of the Census of Population for use by retailers in trading-area analysis is ________.

A) its currency

B) its five-year projections of key economic data

C) the availability of retail sales data by merchandise classification

D) the availability of information on small geographic units

30) An important advantage to the use of American Community Survey data in trading-area analysis is its ________.

A) availability on the Web

B) annually updated data

C) computation of economic base characteristics

D) small size of census blocks and tracks

31) An area's commercial and industrial structure is referred to as its ________.

A) lambda coefficient

B) economic base

C) trading area

D) industrial diversification base

32) What type of economic base is preferred by most retailers?

A) upper-income economic base

B) service-oriented economic base

C) single-industry economic base

D) diversified economic base

33) Data on an area's economic base are available from ________.

A) American Community Survey

B) Editor & Publisher Market Guide

C) Census of Population

D) Census of Retail Trade

34) A retailer with a higher than average profitability is most likely to have which level of saturation?

A) overstored

B) understored

C) oversaturated

D) saturated

35) An area which has the proper amount of stores to satisfy the needs of its population for a specific good or service is a(n) ________ trading area.

A) saturated

B) supersaturated

C) overstored

D) understored

36) A retailer's location strategy can be made more flexible through ________.

A) sale and leaseback arrangements with financial institutions

B) ownership versus long-term leasing

C) the use of short-term leases with multiple renewal options versus a long-term lease

D) the use of a maintenance-increase-recoupment provision

37) Which type of customers are generally not studied in a trading-area analysis?

A) direct-selling customers

B) fringe trading area customers

C) branch customers of retail chains

D) outshoppers

38) A retailer with three retail stores located within a 10-mile radius wishes to advertise in a county-based daily newspaper which covers a very large geographic area. The retailer should ________.

A) use small ads to minimize waste

B) use horizontal cooperative advertising to reduce waste

C) use a regional edition to minimize waste

D) seek to reduce the trading-area overlap to minimize waste with this medium

39) High trading-area overlap is preferable for a retailer that seeks to ________.

A) receive high incremental sales from new store units

B) saturate a geographic area and keep out potential new retailers

C) appeal to niche markets

D) become a destination store

40) Under what condition would it be rational for the trading areas of two branch locations to completely overlap?

A) when each store has the same target market

B) when the retailer desires cost economics in promotion

C) when a retailer pursues a mass marketing strategy

D) when the retailer decides to switch store locations due to loss of a lease on the first store location

41) Which software products enable retailers to graphically evaluate the characteristics of alternate locations?

A) data warehousing

B) data mining

C) geographic information systems

D) geographic mapping

42) The most important trading area to a retailer is the ________.

A) primary trading area

B) secondary trading area

C) fringe trading area

D) parasite area overlap

43) A retailer's core shoppers come from which trading area?

A) secondary trading area

B) primary trading area

C) parasite trading area

D) fringe trading area

44) Loyal customers who shop at a store despite very long travel requirements constitute the store's ________.

A) trading-area overlap

B) primary trading area

C) secondary trading area

D) fringe trading area

45) A store has a disproportionately large primary, secondary, and fringe trading area. This situation can be caused by ________.

A) a high level of prices

B) its being a destination store

C) physical barriers

D) high competition in each trading area

46) What type of retailer has a very large primary trading area?

A) impulse retailer

B) convenience retailer

C) destination retailer

D) parasite store

47) Which of the following retailers is most likely to be a parasite in a major shopping center?

A) coffee shop

B) electronic repair facility

C) department store

D) clothing specialty retailer

48) Which statement about the trading area of a parasite store in a regional shopping center is correct?

A) A parasite store has its own unique trading area.

B) The trading area of the parasite store approximates that of the shopping center.

C) The parasite store has a larger trading area than the center's department store.

D) The parasite store is a destination store.

49) "A grouping of stores may actually increase the trading area for each store." This statement especially applies to ________.

A) convenience products

B) emergency products

C) impulse products

D) shopping products

Course Home Work

Wednesday, 29 July 2015