1
BUSML 3250 Final Exam Questions
with 100% Correct Answers
Which type of retailer usually carries more specialty goods at high prices and is
more likely to provide customers with assistance in every phase of the shopping
process? Correct Answer: Full- Service Retailer
Today, ________ are flourishing due to the increased use of market segmentation
and market targeting. Correct Answer: Specialty Stores
________ retailers in the United States are growing faster than product retailers
Correct Answer: Service
A retailer that carries narrow product lines with deep assortments within those
lines is classified as what type of retailer? In response to increasing the use of
market segmentation, market targeting, and product specialization, there is a
greater need for stores in this classification that focus on specific products and
segments. Correct Answer: Specialty Stores
________ are two or more outlets that are commonly owned and controlled
Correct Answer: Corporate Chains
Daizy's is a shop that carries only plus-size clothing. According to this information,
Daizy's differentiates itself from its competitors based on ________. Correct
Answer: Product Assortment
In-store demonstrations, displays, sales, and loyalty programs are examples of
________. Correct Answer: Sales Promotion
:
vPretest - Stuvia US
, 2
A recent retail trend is to create limited-time retail facilities that let firms promote
their brands to seasonal shoppers and create buzz in busy areas. What are
these short-term establishments called? Correct Answer: Pop-Up Stores
The lighting in Jake's Steak Restaurant is dim. The chairs are covered in leather
and each table is covered with a white linen cloth. The colors are limited to
earth tones with an occasional splash of red. Patrons cannot hear any kitchen
noises, only a pleasant melody that seems familiar but unrecognizable. The
smells are extraordinarily varied. This is a description of the restaurant's ________.
Correct Answer: Atmosphere
________ buy mostly from producers and sell to retailers and industrial consumers.
Correct Answer: Wholesalers
When a phone company releases its greatly anticipated new phone models at
a premium price, only to discount them slowly over time, this is an example of a
________ pricing strategy. Correct Answer: Market-Skimming
Companies that set a low initial price in order to attract a large number of
buyers quickly and win a large market share are employing a ________ pricing
strategy. Correct Answer: Market-Penetration
Combo meals at fast-food restaurants are an example of ________ pricing.
Correct Answer: Product-Bundle
________ pricing is an appropriate strategy for companies that offer multiple
products within a given category with varying levels of quality or functionality.
Correct Answer: Product-Line
:
vPretest - Stuvia US
BUSML 3250 Final Exam Questions
with 100% Correct Answers
Which type of retailer usually carries more specialty goods at high prices and is
more likely to provide customers with assistance in every phase of the shopping
process? Correct Answer: Full- Service Retailer
Today, ________ are flourishing due to the increased use of market segmentation
and market targeting. Correct Answer: Specialty Stores
________ retailers in the United States are growing faster than product retailers
Correct Answer: Service
A retailer that carries narrow product lines with deep assortments within those
lines is classified as what type of retailer? In response to increasing the use of
market segmentation, market targeting, and product specialization, there is a
greater need for stores in this classification that focus on specific products and
segments. Correct Answer: Specialty Stores
________ are two or more outlets that are commonly owned and controlled
Correct Answer: Corporate Chains
Daizy's is a shop that carries only plus-size clothing. According to this information,
Daizy's differentiates itself from its competitors based on ________. Correct
Answer: Product Assortment
In-store demonstrations, displays, sales, and loyalty programs are examples of
________. Correct Answer: Sales Promotion
:
vPretest - Stuvia US
, 2
A recent retail trend is to create limited-time retail facilities that let firms promote
their brands to seasonal shoppers and create buzz in busy areas. What are
these short-term establishments called? Correct Answer: Pop-Up Stores
The lighting in Jake's Steak Restaurant is dim. The chairs are covered in leather
and each table is covered with a white linen cloth. The colors are limited to
earth tones with an occasional splash of red. Patrons cannot hear any kitchen
noises, only a pleasant melody that seems familiar but unrecognizable. The
smells are extraordinarily varied. This is a description of the restaurant's ________.
Correct Answer: Atmosphere
________ buy mostly from producers and sell to retailers and industrial consumers.
Correct Answer: Wholesalers
When a phone company releases its greatly anticipated new phone models at
a premium price, only to discount them slowly over time, this is an example of a
________ pricing strategy. Correct Answer: Market-Skimming
Companies that set a low initial price in order to attract a large number of
buyers quickly and win a large market share are employing a ________ pricing
strategy. Correct Answer: Market-Penetration
Combo meals at fast-food restaurants are an example of ________ pricing.
Correct Answer: Product-Bundle
________ pricing is an appropriate strategy for companies that offer multiple
products within a given category with varying levels of quality or functionality.
Correct Answer: Product-Line
:
vPretest - Stuvia US
