Retailing Management 9th Edition by Michael Levy – Test Bank

1.

A retail format describes the nature of the retailer’s operations that it will use to satisfy the needs of its target market. 
 
True    False

2.

After selecting a target market and a retail mix, the final element in a retail strategy is the identification of prospective wholesalers. 
 
True    False

3.

Building strong relationships with wholesalers is one of the three approaches for developing a sustainable competitive advantage. 
 
True    False

4.

Customer relationship management programs collect data about customer shopping behavior to enable retailers to build and maintain customer loyalty. 
 
True    False

5.

Market expansion approaches include opening more stores in the target market and/or keeping existing stores open for longer hours. 
 
True    False

6.

A retail format development growth opportunity is an opportunity in which a retailer develops a new retail format for the same target market. 
 
True    False

7.

Horizontal integration describes diversification by retailers into wholesaling or manufacturing. 
 
True    False

8.

Direct investment occurs when a retail firm invests in and owns a retail operation in its home country. 
 
True    False

9.

The first step in the strategic retail planning process is to define the business mission. 
 
True    False