List and explain the four service levels offered by retailers
What will be an ideal response?
Retailers meet widely different consumer preferences for service levels and specific services. The four levels of service usually offered by retailers are:
1. Self-service: Self-service is the cornerstone of all discount operations. Many customers are willing to carry out their own "locate-compare-select" process to save money.
2. Self-selection: Customers find their own goods, although they can ask for assistance.
3. Limited service: These retailers carry more shopping goods and services such as credit and merchandise-return privileges. Customers need more information and assistance.
4. Full-service: Salespeople are ready to assist in every phase of the "locate-compare-select" process. Customers who like to be waited on prefer this type of store. The high staffing cost, along with the higher proportion of specialty goods and slower-moving items and the many services, result in high-cost retailing.
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Which statement is not true about simulated test markets?
A) While a firm's test marketing is in progress, competitors have an opportunity to beat it to the national market. B) Competitors often take actions such as increasing their promotional efforts to contaminate the test marketing program. C) Both A and B are not true about simulated test markets. D) They yield mathematical estimates of market share based on initial reaction of consumers to a new product.
Describe the journal entries required to record the issuance of bonds at par and the payment of bond interest.
What will be an ideal response?
Independents can compete with chain organizations (in terms of image, promotional effectiveness, and central organization assistance) through _____
a. franchising b. an off-price chain c. a vertical marketing system d. a leased department
Ran is starting a new job search. What is the best advice you can give her about preparing her résumé?
A) Save time by preparing an all-purpose résumé that can be used to apply for any position. B) Make sure that her résumé focuses on what she wants in a position. C) Prepare a customized résumé to fit each company and position. D) Limit the length of her résumé to one page.