INTRO TO RETAIL FINAL EXAM
QUESTIONS AND ANSWERS WITH
VERIFIED SOLUTIONS ALREADY
PASSED!!!
Students must complete assignments, quizzes and activities by the due date to
receive points. There are no date extensions or make-up points. - ANSWER✔✔
True
How did the original owners of Macy's pass away? - ANSWER✔✔ They were
passengers on the Titanic when it sank
How many hours are recommended to plan to dedicate to this course each week?
Just input a # - ANSWER✔✔ 6
In what era did enclosed malls get introduced in the USA? - ANSWER✔✔ 1940-
1970
Prior to acadamia, Professor Murray (or Dr. Murray or just "Murray) worked for
retailers such as: - ANSWER✔✔ Galyan's (now Dicks Sporting Goods), Sportmart
and BonTon
Due to the COVID-19 pandemic, it was discussed at the end of Murray's lecture
that the two driving forces or attributes for successful retailers are:
C____________ & S_________ (2 words) - ANSWER✔✔ Convenience Safety
Over the past century, retail has evolved and has been driven by changes in three
core retail building blocks.
These three core retail building blocks are: Merchandise and pricing, store
experience and ________ _________ (2 words; type the full words in your
answers, first word starts with an "m" and ends with "ing"; the second word starts
with an "a") . - ANSWER✔✔ Marketing approach
Professor Murray (or Dr. Murray, or just "Murray") has retail industry experience
in - ANSWER✔✔ Buying, Planning and Product Development
,In referencing the Fall 2021 schedule for this course. What is the date that the Why
We Buy paper is due? - ANSWER✔✔ 12/3
Industry trade shows (where retail buyers meet with brands and vendors) like
Agenda, Liberty, MAGIC, and others take place in Las Vegas twice a year in the
months of __________ . RCB students have the opportunity to attend these
industry trade shows through the Center for Retailing Excellence in the latter
month. - ANSWER✔✔ Feb and Aug
Trends in Europe is a 3-Credit study abroad led by Murray and the former Target
Corporation Vice President of Trend, Product Development, and Design, Robyn
Waters.
What are the places you would travel to if you attended this study abroad to learn
about trend forecasting? - ANSWER✔✔ London and Paris
The ideal time for a Consumer Science student to complete an internship for credit
is: - ANSWER✔✔ the summer prior to graduation
What is the name of UW's primary recruiting and career event management tool
that all students should create an account in prior to searching for an internship? -
ANSWER✔✔ Handshake
What is the name of the weekly email on Wedneday's sent out to all SoHE students
that details by major various jobs, career and professional event info? -
ANSWER✔✔ Career and Leadership Digest
What is the name of the student professional group for students majoring or
interested in Retail? - ANSWER✔✔ Student Retail Association
In the Why Retail video, the Kohl's recruiter, spoke about the different brands that
Kohl's carries. Which job area primarily focuses on National brands? -
ANSWER✔✔ Merchants
Consumer Science students have an internship as part of their graduation
requirements. - ANSWER✔✔ True
,In the Why Retail video, the Kohl's recruiter, spoke about the different brands that
Kohl's carries. Which job area primarily focuses on Private and Exclusive brands?
- ANSWER✔✔ Product Development
Kohl's offers an opportunity for students for professional development, career
exploration and after participating, students will be guaranteed a first round
interview. What is this opportunity referred to as? - ANSWER✔✔ Sophomore
Expo
Why is it imperative that manufacturers like HP and Procter and Gamble
understand the operations of retailers? - ANSWER✔✔ To encourage retailers to
offer and promote their products
_____ means that a firm performs more than one set of activities in the channel, as
occurs when a retailer engages in wholesaling activities by operating its own
distribution centers to supply its stores. - ANSWER✔✔ Vertical integration
Dailies is a large retail chain in New Jersey. Apart from selling to customers,
Dailies supplies bread and vegetables to a large number of restaurants in and
around New Jersey. Therefore, Dailies is engaged in _____ when selling to
restaurants. - ANSWER✔✔ wholesaling
Which of the following statements about retailers holding inventory is FALSE? -
ANSWER✔✔ It allows customers to get the lowest price possible
A retailer's role in a supply chain is to: - ANSWER✔✔ add value to products and
services sold to customers.
A _____ is a business that sells products and/or services to consumers for their
personal or family use. - ANSWER✔✔ retailer
A(n) _____ is a set of firms that make and deliver a given set of goods and services
to the ultimate consumer. - ANSWER✔✔ supply chain
A company in the first stage of incorporating corporate social responsibility (CSR)
into its strategies: - ANSWER✔✔ only engages in CSR activities that are required
of it by law.
, A company in the final stage of integrating corporate social responsibility into its
strategies: - ANSWER✔✔ engages in responsible activities for the well-being of
everyone.
The development of information systems is one the forces facilitating the growth
of large retail firms. - ANSWER✔✔ True
More retail transactions take place online now than in stores. - ANSWER✔✔
FALSE
Retailing offers entrepreneurial opportunities. - ANSWER✔✔ True
Retailers do not perform traditional business activities. - ANSWER✔✔ False
Which of the following is the first step in the retail management decision process?
- ANSWER✔✔ Understanding the world of retailing
Which of the following statements is true of ethical principles? - ANSWER✔✔
Ethical principles can change over time.
A retail mix is developed to: - ANSWER✔✔ implement a retail strategy.
Increasing intertype competition has made it harder for retailers to identify their: -
ANSWER✔✔ competition
Karen's is a popular clothing store in Boston. The store recently started selling
designer watches. Thus, Karen's is practicing _____. - ANSWER✔✔ scrambled
merchandising
The competition between the same type of retailers is called _____. -
ANSWER✔✔ intratype competition
When Austin saw pastries and coffee being sold at his local bookstore, he knew it
was an example of _____. - ANSWER✔✔ scrambled merchandising
Managers in retail make many different decisions regarding their business. A
decision that would NOT be a part of retail management is: - ANSWER✔✔
Deciding which customers can buy what products
QUESTIONS AND ANSWERS WITH
VERIFIED SOLUTIONS ALREADY
PASSED!!!
Students must complete assignments, quizzes and activities by the due date to
receive points. There are no date extensions or make-up points. - ANSWER✔✔
True
How did the original owners of Macy's pass away? - ANSWER✔✔ They were
passengers on the Titanic when it sank
How many hours are recommended to plan to dedicate to this course each week?
Just input a # - ANSWER✔✔ 6
In what era did enclosed malls get introduced in the USA? - ANSWER✔✔ 1940-
1970
Prior to acadamia, Professor Murray (or Dr. Murray or just "Murray) worked for
retailers such as: - ANSWER✔✔ Galyan's (now Dicks Sporting Goods), Sportmart
and BonTon
Due to the COVID-19 pandemic, it was discussed at the end of Murray's lecture
that the two driving forces or attributes for successful retailers are:
C____________ & S_________ (2 words) - ANSWER✔✔ Convenience Safety
Over the past century, retail has evolved and has been driven by changes in three
core retail building blocks.
These three core retail building blocks are: Merchandise and pricing, store
experience and ________ _________ (2 words; type the full words in your
answers, first word starts with an "m" and ends with "ing"; the second word starts
with an "a") . - ANSWER✔✔ Marketing approach
Professor Murray (or Dr. Murray, or just "Murray") has retail industry experience
in - ANSWER✔✔ Buying, Planning and Product Development
,In referencing the Fall 2021 schedule for this course. What is the date that the Why
We Buy paper is due? - ANSWER✔✔ 12/3
Industry trade shows (where retail buyers meet with brands and vendors) like
Agenda, Liberty, MAGIC, and others take place in Las Vegas twice a year in the
months of __________ . RCB students have the opportunity to attend these
industry trade shows through the Center for Retailing Excellence in the latter
month. - ANSWER✔✔ Feb and Aug
Trends in Europe is a 3-Credit study abroad led by Murray and the former Target
Corporation Vice President of Trend, Product Development, and Design, Robyn
Waters.
What are the places you would travel to if you attended this study abroad to learn
about trend forecasting? - ANSWER✔✔ London and Paris
The ideal time for a Consumer Science student to complete an internship for credit
is: - ANSWER✔✔ the summer prior to graduation
What is the name of UW's primary recruiting and career event management tool
that all students should create an account in prior to searching for an internship? -
ANSWER✔✔ Handshake
What is the name of the weekly email on Wedneday's sent out to all SoHE students
that details by major various jobs, career and professional event info? -
ANSWER✔✔ Career and Leadership Digest
What is the name of the student professional group for students majoring or
interested in Retail? - ANSWER✔✔ Student Retail Association
In the Why Retail video, the Kohl's recruiter, spoke about the different brands that
Kohl's carries. Which job area primarily focuses on National brands? -
ANSWER✔✔ Merchants
Consumer Science students have an internship as part of their graduation
requirements. - ANSWER✔✔ True
,In the Why Retail video, the Kohl's recruiter, spoke about the different brands that
Kohl's carries. Which job area primarily focuses on Private and Exclusive brands?
- ANSWER✔✔ Product Development
Kohl's offers an opportunity for students for professional development, career
exploration and after participating, students will be guaranteed a first round
interview. What is this opportunity referred to as? - ANSWER✔✔ Sophomore
Expo
Why is it imperative that manufacturers like HP and Procter and Gamble
understand the operations of retailers? - ANSWER✔✔ To encourage retailers to
offer and promote their products
_____ means that a firm performs more than one set of activities in the channel, as
occurs when a retailer engages in wholesaling activities by operating its own
distribution centers to supply its stores. - ANSWER✔✔ Vertical integration
Dailies is a large retail chain in New Jersey. Apart from selling to customers,
Dailies supplies bread and vegetables to a large number of restaurants in and
around New Jersey. Therefore, Dailies is engaged in _____ when selling to
restaurants. - ANSWER✔✔ wholesaling
Which of the following statements about retailers holding inventory is FALSE? -
ANSWER✔✔ It allows customers to get the lowest price possible
A retailer's role in a supply chain is to: - ANSWER✔✔ add value to products and
services sold to customers.
A _____ is a business that sells products and/or services to consumers for their
personal or family use. - ANSWER✔✔ retailer
A(n) _____ is a set of firms that make and deliver a given set of goods and services
to the ultimate consumer. - ANSWER✔✔ supply chain
A company in the first stage of incorporating corporate social responsibility (CSR)
into its strategies: - ANSWER✔✔ only engages in CSR activities that are required
of it by law.
, A company in the final stage of integrating corporate social responsibility into its
strategies: - ANSWER✔✔ engages in responsible activities for the well-being of
everyone.
The development of information systems is one the forces facilitating the growth
of large retail firms. - ANSWER✔✔ True
More retail transactions take place online now than in stores. - ANSWER✔✔
FALSE
Retailing offers entrepreneurial opportunities. - ANSWER✔✔ True
Retailers do not perform traditional business activities. - ANSWER✔✔ False
Which of the following is the first step in the retail management decision process?
- ANSWER✔✔ Understanding the world of retailing
Which of the following statements is true of ethical principles? - ANSWER✔✔
Ethical principles can change over time.
A retail mix is developed to: - ANSWER✔✔ implement a retail strategy.
Increasing intertype competition has made it harder for retailers to identify their: -
ANSWER✔✔ competition
Karen's is a popular clothing store in Boston. The store recently started selling
designer watches. Thus, Karen's is practicing _____. - ANSWER✔✔ scrambled
merchandising
The competition between the same type of retailers is called _____. -
ANSWER✔✔ intratype competition
When Austin saw pastries and coffee being sold at his local bookstore, he knew it
was an example of _____. - ANSWER✔✔ scrambled merchandising
Managers in retail make many different decisions regarding their business. A
decision that would NOT be a part of retail management is: - ANSWER✔✔
Deciding which customers can buy what products
