Question 1

What is the difference between multiple regression analysis and the analog approach?

Accepted Answer

A)   The analog approach gathers its information through nationwide customer surveys.
B)   Multiple regression analysis uses geo-demographic segmentation systems to determine potential sales in a new market.
C)   The analog approach uses statistics rather than judgment to predict sales.
D)   Multiple regression analysis uses statistics rather than judgment to predict sales at existing store locations.
E)   Multiple regression analysis cannot be used to determine potential sales like the analog approach.F) A) and B)
G) B) and C)

Question 2

In terms of trade areas,the owner of Bubba's Bar and Grille defines his _____ as the geographic area in which 70% of his customers live.

Accepted Answer

A)   primary trading area
B)   fundamental market
C)   geographic market
D)   secondary trading area
E)   tertiary trading areaF) A) and B)
G) A) and C)

Question 3

The Huff gravity model is used to predict the probability that a consumer will patronize a store.

Accepted Answer

A) True 
 B)False

Question 4

Why would Save-A-Lot grocery store choose to be located in the same strip mall as Dollar General and Walmart?

Accepted Answer

Save-A-Lot targets price-sensitive consu...

Question 5

What are two main issues to consider when negotiating a store's lease?

Accepted Answer

The two main issues to consider when neg...

Question 6

According to the Huff Gravity Model,the two factors which attract consumers to a store location are:

Accepted Answer

A)   travel time for customer to get to location and the number of customers in a trade area.
B)   the attractiveness of the store's location and the time it takes to travel to the store.
C)   the size of the store and the number of customers in a trade area.
D)   travel time for customer to get to location and the distance between a customer's location and store location.
E)   the distance between customer location and store location and the number of customers in a trade area.F) C) and D)
G) A) and B)

Question 7

Which of the following is not true about U.S.census data?

Accepted Answer

A)   The census track is the smallest geographic entity for which census data is available.
B)   There are eight million census blocks in the United States,each containing the residences of about 40 people.
C)   The block group is a collection of adjacent blocks that contain between 300 and 4,000 people.
D)   Census data are collected every ten years.E) None of the above
F) A) and D)

Question 8

The Village Green,a woman's clothing store,took a map of the city and the checks written by its customers during the last quarter.The store's owner then marked the address of each customer on the map with a map pin.By looking at where the pins clustered on the map,she could determine her trade area.She was engaged in _____.

Accepted Answer

A)   geographic research
B)   customer spotting
C)   financial demographics
D)   customer clustering
E)   residential researchF) C) and D)
G) None of the above

Question 9

Although retailers gain economies of scale from opening multiple locations in an area,they also suffer diminishing returns associated with locating too many additional stores in an area.This is called:

Accepted Answer

A)   channel competition.
B)   economies of scope.
C)   sales cannibalization.
D)   channel integration.
E)   operating turnover.F) A) and B)
G) C) and D)

Question 10

What is the advantage of having your adjacent tenant as a complementary retailer?

Accepted Answer

A)   Shared parking expense
B)   Better lease negotiations
C)   Visibility
D)   Less tenant restrictions
E)   Builds customer trafficF) A) and E)
G) B) and C)

Question 11

The _____ of a site is the ease with which customers can get into and out of the site.

Accepted Answer

A)   traffic flow
B)   traffic restriction
C)   accessibility
D)   vehicular traffic bypass
E)   macro analysisF) B) and D)
G) A) and E)

Question 12

Which of the following refers to a town removed from larger U.S.cities,often by up to 100 miles?

Accepted Answer

A)   Micropolitan Statistical Area
B)   Competitive Statistical Area
C)   Statistical Demographic Area
D)   Metropolitan Statistical Area
E)   Trade areaF) A) and E)
G) A) and D)

Question 13

What is the drawback of using the Decennial Census of the United States?

Accepted Answer

A)   The information in the Census is only for metropolitan areas.
B)   The information included is gathered only once every ten years.
C)   It is expensive to purchase and retailers usually find other means for the information.
D)   The Census provides only numbers of people in an area,not specifics like household income,level of education,etc.
E)   The information provided requires interpretation by analysts.F) A) and E)
G) A) and C)

Question 14

A(n) _____ prohibits the landlord from leasing to retailers that sell competing products.

Accepted Answer

A)   prohibited-use clause
B)   exclusive-use clause
C)   escape clause
D)   fixed-rate leases
E)   inclusive-use clauseF) C) and D)
G) A) and C)

Question 15

Which of the following is typically the step after conducting a competitive analysis during site selection?

Accepted Answer

A)   Define present trade area.
B)   Analyze trade area characteristics.
C)   Conduct a situational analysis.
D)   Match characteristics of present trade area with potential sites.E) B) and C)
F) A) and B)

Question 16

When stores such as Bath & Body Works,Victoria's Secret,Express,Abercrombie & Fitch all have store sites near each other in a shopping center,what is this an example of?

Accepted Answer

A)   Multiple risks
B)   Analog approach
C)   Cumulative attraction
D)   Consumer spotting
E)   Diminishing adjacentF) A) and B)
G) B) and E)

Question 17

Lee Ann was overwhelmed by the heavy traffic outside of her local discount retailer.Her experience in the store was no better.The aisles were packed,and the lines were long.To Lee Ann,this discounter didn't consider the problem of _____ when choosing the site for the store.

Accepted Answer

A)   congestion
B)   non-shopper access
C)   flow of traffic
D)   visibility
E)   vulnerabilityF) C) and D)
G) B) and E)

Question 18

ESRI and other GIS suppliers have developed schemes for classifying geographic areas.The ESRI Tapestry Segmentation scheme classifies neighborhoods into 65 categories.How would you classify the following person? Thomas is a recent college graduate who accepted an assistant buying position with Macy's in New York City.After six months,his commitment to the company led him to a promotion,and a raise.Thomas rents an apartment with his girlfriend Grace,who works as a stockbroker.Together they spend weekends shopping and meeting friends,and sometimes they travel to Boston for a change in scenery.Which of the following most accurately describes Thomas?

Accepted Answer

A)   Generation X
B)   Metro renter
C)   Metro spender
D)   Metron
E)   Tapestry schemeF) A) and B)
G) A) and E)

Question 19

Schnuck's Grocery Store is located in St.Louis,Missouri.The owner has taken a map and has drawn three different sized shapes around the store's location.Those people that are located in only the largest shape being beyond a 15 minute drive radius of the store are in what's referred to as the store's _____.

Accepted Answer

A)   geographic market
B)   market trading area
C)   delineated market
D)   tertiary trading area
E)   inclusive trading areaF) None of the above
G) A) and B)

Question 20

With regression analysis used in location analysis,predictor variables are selected.Which of the following predictor variables would be more useful for a retailer who is contemplating opening a day care center than for a retailer of used books?

Accepted Answer

A)   Number of households with children not attending school
B)   Educational level of households
C)   Average age of homes in trade area
D)   Average age of head of household
E)   Average number of cars in each householdF) B) and D)
G) All of the above

Exam 8: Retail Site Location

Correct Answer
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Correct Answer
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According to the Huff Gravity Model,the two factors which attract consumers to a store location are:

Correct Answer
verified

Lee Ann was overwhelmed by the heavy traffic outside of her local discount retailer.Her experience in the store was no better.The aisles were packed,and the lines were long.To Lee Ann,this discounter didn't consider the problem of _____ when choosing the site for the store.

Correct Answer
verified

The _____ of a site is the ease with which customers can get into and out of the site.

Correct Answer
verified

When stores such as Bath & Body Works,Victoria's Secret,Express,Abercrombie & Fitch all have store sites near each other in a shopping center,what is this an example of?

Correct Answer
verified

With regression analysis used in location analysis,predictor variables are selected.Which of the following predictor variables would be more useful for a retailer who is contemplating opening a day care center than for a retailer of used books?

Correct Answer
verified

Which of the following refers to a town removed from larger U.S.cities,often by up to 100 miles?

Correct Answer
verified

What are two main issues to consider when negotiating a store's lease?

Correct Answer
verified
The two main issues to consider when neg...
View Answer

What is the drawback of using the Decennial Census of the United States?

Correct Answer
verified

What is the difference between multiple regression analysis and the analog approach?

Correct Answer
verified

Correct Answer
verified

Why would Save-A-Lot grocery store choose to be located in the same strip mall as Dollar General and Walmart?

Correct Answer
verified
Save-A-Lot targets price-sensitive consu...
View Answer

The Huff gravity model is used to predict the probability that a consumer will patronize a store.

Correct Answer
verified

In terms of trade areas,the owner of Bubba's Bar and Grille defines his _____ as the geographic area in which 70% of his customers live.

Correct Answer
verified

Which of the following is not true about U.S.census data?

Correct Answer
verified

Although retailers gain economies of scale from opening multiple locations in an area,they also suffer diminishing returns associated with locating too many additional stores in an area.This is called:

Correct Answer
verified

What is the advantage of having your adjacent tenant as a complementary retailer?

Correct Answer
verified

Which of the following is typically the step after conducting a competitive analysis during site selection?

Correct Answer
verified

A(n) _____ prohibits the landlord from leasing to retailers that sell competing products.

Correct Answer
verified

Exam 8: Retail Site Location

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

According to the Huff Gravity Model,the two factors which attract consumers to a store location are:

Correct AnswerverifiedShow Answer

Lee Ann was overwhelmed by the heavy traffic outside of her local discount retailer.Her experience in the store was no better.The aisles were packed,and the lines were long.To Lee Ann,this discounter didn't consider the problem of _____ when choosing the site for the store.

Correct AnswerverifiedShow Answer

The _____ of a site is the ease with which customers can get into and out of the site.

Correct AnswerverifiedShow Answer

When stores such as Bath & Body Works,Victoria's Secret,Express,Abercrombie & Fitch all have store sites near each other in a shopping center,what is this an example of?

Correct AnswerverifiedShow Answer

With regression analysis used in location analysis,predictor variables are selected.Which of the following predictor variables would be more useful for a retailer who is contemplating opening a day care center than for a retailer of used books?

Correct AnswerverifiedShow Answer

Which of the following refers to a town removed from larger U.S.cities,often by up to 100 miles?

Correct AnswerverifiedShow Answer

What are two main issues to consider when negotiating a store's lease?

Correct AnswerverifiedThe two main issues to consider when neg...View AnswerShow Answer

What is the drawback of using the Decennial Census of the United States?

Correct AnswerverifiedShow Answer

What is the difference between multiple regression analysis and the analog approach?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Why would Save-A-Lot grocery store choose to be located in the same strip mall as Dollar General and Walmart?

Correct AnswerverifiedSave-A-Lot targets price-sensitive consu...View AnswerShow Answer

The Huff gravity model is used to predict the probability that a consumer will patronize a store.

Correct AnswerverifiedShow Answer

In terms of trade areas,the owner of Bubba's Bar and Grille defines his _____ as the geographic area in which 70% of his customers live.

Correct AnswerverifiedShow Answer

Which of the following is not true about U.S.census data?

Correct AnswerverifiedShow Answer

Although retailers gain economies of scale from opening multiple locations in an area,they also suffer diminishing returns associated with locating too many additional stores in an area.This is called:

Correct AnswerverifiedShow Answer

What is the advantage of having your adjacent tenant as a complementary retailer?

Correct AnswerverifiedShow Answer

Which of the following is typically the step after conducting a competitive analysis during site selection?

Correct AnswerverifiedShow Answer

A(n) _____ prohibits the landlord from leasing to retailers that sell competing products.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The two main issues to consider when neg...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Save-A-Lot targets price-sensitive consu...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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