Podcast
Questions and Answers
Which type of consumer decision-making process is most likely associated with a high risk of cognitive dissonance?
Which type of consumer decision-making process is most likely associated with a high risk of cognitive dissonance?
- Impulse Shopping
- Limited Decision Making
- Extended Decision Making (correct)
- Routine Decision Making
A consumer decides to purchase a new brand of coffee that they saw advertised. They had intended to buy their usual brand. What type of impulse shopping is this?
A consumer decides to purchase a new brand of coffee that they saw advertised. They had intended to buy their usual brand. What type of impulse shopping is this?
- Routine repurchase
- Completely unplanned
- Partially unplanned
- Unplanned substitution (correct)
For which type of decision-making process is the consumer most likely to skip steps, relying instead on habit?
For which type of decision-making process is the consumer most likely to skip steps, relying instead on habit?
- Extended Decision Making
- Impulse Shopping
- Limited Decision Making
- Routine Decision Making (correct)
When buying which of the following would a consumer most likely engage in 'limited decision making'?
When buying which of the following would a consumer most likely engage in 'limited decision making'?
A consumer goes to the store with no intention of buying anything, but leaves having purchased a candy bar. This is an example of what?
A consumer goes to the store with no intention of buying anything, but leaves having purchased a candy bar. This is an example of what?
Which of the following is the key step to trigger a purchase in Routine Decision Making?
Which of the following is the key step to trigger a purchase in Routine Decision Making?
A consumer decides they need new shoes. They haven't yet decided on what brand or style. This is an example of which type of impulse purchase?
A consumer decides they need new shoes. They haven't yet decided on what brand or style. This is an example of which type of impulse purchase?
Which of the following influences has the LEAST impact on Extended Decision Making?
Which of the following influences has the LEAST impact on Extended Decision Making?
Which shopper segment is most likely to engage in online pre-purchase information search, while also believing they are smart shoppers?
Which shopper segment is most likely to engage in online pre-purchase information search, while also believing they are smart shoppers?
A retailer wants to attract 'Involved' shoppers. Which strategy would be MOST effective based on their preferences?
A retailer wants to attract 'Involved' shoppers. Which strategy would be MOST effective based on their preferences?
What is the primary reason 'Spontaneous' shoppers differ from 'Apathetic' shoppers?
What is the primary reason 'Spontaneous' shoppers differ from 'Apathetic' shoppers?
A customer leaves an apparel store without making a purchase. According to the information, which of the following is the LEAST likely reason for this?
A customer leaves an apparel store without making a purchase. According to the information, which of the following is the LEAST likely reason for this?
A clothing retailer aims to improve customer satisfaction. Based on the provided information, which adjustment would likely have the MOST significant positive impact?
A clothing retailer aims to improve customer satisfaction. Based on the provided information, which adjustment would likely have the MOST significant positive impact?
In an 'equal store' organization, which of the following responsibilities is typically assigned to the branch stores?
In an 'equal store' organization, which of the following responsibilities is typically assigned to the branch stores?
Which characteristic is most indicative of a chain retailer utilizing an equal store organizational format?
Which characteristic is most indicative of a chain retailer utilizing an equal store organizational format?
A retail chain is experiencing difficulties adapting to local market conditions due to rigid, centralized control. Which organizational adaptation would best address this issue?
A retail chain is experiencing difficulties adapting to local market conditions due to rigid, centralized control. Which organizational adaptation would best address this issue?
A regional retail chain wants to implement strategies to improve employee retention. Considering the direct and indirect costs of employee turnover, which initiative would be most effective?
A regional retail chain wants to implement strategies to improve employee retention. Considering the direct and indirect costs of employee turnover, which initiative would be most effective?
What is an example of an indirect cost associated with high employee turnover in a retail setting?
What is an example of an indirect cost associated with high employee turnover in a retail setting?
Which of the following strategies would least likely address the specific needs and concerns of female workers in a retail environment?
Which of the following strategies would least likely address the specific needs and concerns of female workers in a retail environment?
Which of the following is an example of a direct cost of employee turnover?
Which of the following is an example of a direct cost of employee turnover?
A retail company aims to reduce employee turnover, particularly among its female workforce. Which combination of initiatives would likely have the greatest impact?
A retail company aims to reduce employee turnover, particularly among its female workforce. Which combination of initiatives would likely have the greatest impact?
What is the primary purpose of a well-structured compensation plan in a retail organization?
What is the primary purpose of a well-structured compensation plan in a retail organization?
A retail company is aiming to cultivate a more inclusive workplace. Which of the following initiatives would be MOST effective in achieving this goal?
A retail company is aiming to cultivate a more inclusive workplace. Which of the following initiatives would be MOST effective in achieving this goal?
How can retailers effectively demonstrate a commitment to diversity beyond simply meeting legal requirements?
How can retailers effectively demonstrate a commitment to diversity beyond simply meeting legal requirements?
A retail manager discovers that a supplier is employing underage workers. What is the retailer's ethical and legal obligation?
A retail manager discovers that a supplier is employing underage workers. What is the retailer's ethical and legal obligation?
Which of the following is an example of violating labor laws in the retail setting?
Which of the following is an example of violating labor laws in the retail setting?
A newly hired employee is struggling with using the store's inventory management system. According to the training decisions checklist, what is the MOST relevant question to address?
A newly hired employee is struggling with using the store's inventory management system. According to the training decisions checklist, what is the MOST relevant question to address?
A retail chain is expanding and needs to train a large number of new employees quickly. Which training approach would be MOST efficient and cost-effective for conveying basic company policies and procedures?
A retail chain is expanding and needs to train a large number of new employees quickly. Which training approach would be MOST efficient and cost-effective for conveying basic company policies and procedures?
A retail company wants to improve its employee retention rate. Which of the following strategies would likely have the GREATEST impact?
A retail company wants to improve its employee retention rate. Which of the following strategies would likely have the GREATEST impact?
A retailer aims to balance inventory levels to avoid stockouts while minimizing excess merchandise. Which strategy BEST addresses the challenges posed by 'fad' merchandise with no historical sales data?
A retailer aims to balance inventory levels to avoid stockouts while minimizing excess merchandise. Which strategy BEST addresses the challenges posed by 'fad' merchandise with no historical sales data?
To improve the retail supply chain, which action would MOST effectively address delays caused by the increasing number of foreign suppliers?
To improve the retail supply chain, which action would MOST effectively address delays caused by the increasing number of foreign suppliers?
A retail store experiences consistent inventory shrinkage due to employee theft. Apart from firing offenders when caught, which proactive measure would be MOST effective in deterring future incidents?
A retail store experiences consistent inventory shrinkage due to employee theft. Apart from firing offenders when caught, which proactive measure would be MOST effective in deterring future incidents?
A store identifies that a significant amount of theft occurs near store exits. Which of the following strategies would be MOST effective in reducing this type of theft?
A store identifies that a significant amount of theft occurs near store exits. Which of the following strategies would be MOST effective in reducing this type of theft?
Which of the following actions would BEST balance the need to minimize shoplifting while maintaining a positive shopping environment?
Which of the following actions would BEST balance the need to minimize shoplifting while maintaining a positive shopping environment?
A regional supermarket chain is considering carrying a new line of artisanal ice cream. What would be the most likely scenario where they would require a slotting allowance?
A regional supermarket chain is considering carrying a new line of artisanal ice cream. What would be the most likely scenario where they would require a slotting allowance?
Considering the challenges of predicting customer demand and managing inventory, which approach allows a retailer to MOST effectively adapt shelf space allocation to maximize revenues?
Considering the challenges of predicting customer demand and managing inventory, which approach allows a retailer to MOST effectively adapt shelf space allocation to maximize revenues?
A small boutique orders a shipment of dresses from a designer. According to the outlined ownership transfer options, under which circumstance does the boutique NOT own the dresses upon receipt?
A small boutique orders a shipment of dresses from a designer. According to the outlined ownership transfer options, under which circumstance does the boutique NOT own the dresses upon receipt?
Which of the following activities is NOT typically involved in the receiving and stocking of merchandise?
Which of the following activities is NOT typically involved in the receiving and stocking of merchandise?
How can retailers BEST utilize technology to deter both employee and shopper theft?
How can retailers BEST utilize technology to deter both employee and shopper theft?
A retailer wants to improve its loss prevention strategy without negatively impacting employee morale. Which approach strikes the BEST balance?
A retailer wants to improve its loss prevention strategy without negatively impacting employee morale. Which approach strikes the BEST balance?
A retailer notices a significant discrepancy between their computerized inventory data and a recent physical count. Which aspect of merchandise control should they MOST immediately focus on to determine the cause?
A retailer notices a significant discrepancy between their computerized inventory data and a recent physical count. Which aspect of merchandise control should they MOST immediately focus on to determine the cause?
What role does RFID technology play in receiving and stocking merchandise?
What role does RFID technology play in receiving and stocking merchandise?
A clothing retailer is determining whether to accept a customer return for a damaged sweater. What is the retailer primarily determining?
A clothing retailer is determining whether to accept a customer return for a damaged sweater. What is the retailer primarily determining?
A store aims to minimize losses from merchandise theft. What's the MOST effective initial step?
A store aims to minimize losses from merchandise theft. What's the MOST effective initial step?
A retailer is calculating how much of a specific item to reorder. If the retailer has high inventory turnover, what does this MOST directly suggest about order frequency?
A retailer is calculating how much of a specific item to reorder. If the retailer has high inventory turnover, what does this MOST directly suggest about order frequency?
Flashcards
Involved Shoppers
Involved Shoppers
Shoppers who value saving time and effort, attracted to good product assortment and price-saving opportunities.
Spontaneous Shoppers
Spontaneous Shoppers
Shoppers who don't plan much, but care about saving time and effort.
Apathetic Shoppers
Apathetic Shoppers
Shoppers who are less time-conscious, believe they are smart shoppers, price-conscious, but don't respond to in-store promotions.
Merchandise Deficiencies
Merchandise Deficiencies
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Unsatisfactory In-Store Experience
Unsatisfactory In-Store Experience
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Separate Store Organization
Separate Store Organization
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Equal Store Organization
Equal Store Organization
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Attributes of Equal Store Organization
Attributes of Equal Store Organization
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Human Resource Management
Human Resource Management
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Employee Turnover
Employee Turnover
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Direct Costs of Employee Turnover
Direct Costs of Employee Turnover
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Indirect Costs of Employee Turnover
Indirect Costs of Employee Turnover
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Flex Time
Flex Time
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Extended Decision Making
Extended Decision Making
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Limited Decision Making
Limited Decision Making
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Routine Decision Making
Routine Decision Making
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Cognitive Dissonance
Cognitive Dissonance
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Completely Unplanned Shopping
Completely Unplanned Shopping
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Partially Unplanned Shopping
Partially Unplanned Shopping
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Unplanned Substitution
Unplanned Substitution
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Perceived Risk
Perceived Risk
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Diversity policy statement
Diversity policy statement
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Active minority recruitment
Active minority recruitment
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Meaningful training programs
Meaningful training programs
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Advancement opportunities
Advancement opportunities
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Zero tolerance policy
Zero tolerance policy
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Fair & open hiring
Fair & open hiring
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Workplace Diversity
Workplace Diversity
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Salary plus commission
Salary plus commission
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Multi-Modal Transportation
Multi-Modal Transportation
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Fad Merchandise
Fad Merchandise
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Honesty Tests
Honesty Tests
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Security Cameras
Security Cameras
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Door Control
Door Control
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Separation of Duties
Separation of Duties
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Uniformed Guards
Uniformed Guards
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Electronic Article Surveillance
Electronic Article Surveillance
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Slotting Allowances
Slotting Allowances
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Title Transfer
Title Transfer
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RFID (radio frequency identification)
RFID (radio frequency identification)
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Retailer's Tasks
Retailer's Tasks
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Controlling Merchandise
Controlling Merchandise
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Consignment
Consignment
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Factors for Reordering
Factors for Reordering
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Inventory Losses
Inventory Losses
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