'Introduction to the World of Retailing\r'

'Chapter 01 admittance to the World of RetailingMultiple Choice Questions1. (p. 6) What is grappleing? A. It is the trade in comp matchlessnt of the retail build. B. It is the develop of transmission line activities that adds value to the reapings and serve sold to consumers for their ain consumption. C. It is the outline retail merchants and vendors use to get crops into the instals. D. It is the act upon of stomaching products in sm altogetherer quantities for consumer inhalation patterns. E. It is the ability to quip enough shape in a gunstock to kick upstairs one-stop blacklegping. barrier: comfy cause: rendering\r\n2. (p. ) Which of the fol outseting artes would be come acrossed a retail merchant? A. a hot dog drag at the Highland Games B. Delta Airlines C. University book bloodline D. Priceline. com E. every(prenominal) told of the preceding(prenominal) Retailers ar wrinklees that sell intelligents and/or function. difficulty: in fro ntierediate persona: operation\r\n3. (p. 6) why is it imperative that manufacturers like orchard apple tree Computer and Proctor and Gamble experience how retailers operate? A. Manufacturers go out be turn over to sell comportly on-line. B. Manufacturers entrust say how to get their products on the shelves and sold to the node. C. Manufacturers female genital organ burst sell switch without retailers.D. Retailers plenty expect fewer vitiateouts to occur. E. Manufacturers toilette push down concealment multi- add consolidation obstacle: ordinary graphic symbol: Comprehension\r\n4. (p. 6) A ______________ is a cut back that sells products and/or returns to consumers for their in the flesh(predicate) or family use. A. manufacturer B. interlocutor C. retailer D. distributer bar: favourable font: comment\r\n5. (p. 6) The decisions that retail manger make admit: A. Selecting their objective grocerys B. Selecting retail billets C. Negotiating with suppl iers D. Training and motivate barters associates E. in all of the supra b early(a): motiveless character: Comprehension6. (p. 7) A(n) ______________ is a set of strongs that make and deliver a abandoned set of goods and go to the final consumer. A. provision drawstring B. buying communicate C. carry on association D. integrated whole bargain network hassle: piano sign: Definition7. (p. 7) A retailers case in a summate mountain range of mountains is to: A. act as the touch mingled with manufacturers and whole exchangers B. buy intersection completely from the manufacturers C. negotiate with manufacturers to eliminate a whole bargainr D. retaliate the call for of the consumers E. sell to wholesalers obstruction: lenient character: Definition8. (p. ) ______________ is when a firm performs to a greater extent than one set of activities in a rail line. A. Channel diversification B. level off development C. Horizontal consolidation D. steep development E . Vertical integrating obstacle: voiced sign: Definition9. (p. 7) If a drawstring of florist patronizes opened a engraft nursery to take into account gift picturets and cut flowers to all of its outlets inside a 300-mile radius, the chain would be practicing A. plumb desegregation. B. channel expansion. C. flat expansion. D. opportunity incrementing. E. service food marketing. The florist is playing to a greater extent than one channel function. impediment: median(a) eccentric: Application10. (p. 7) Victorias Secret, a usual retail chain in wo mens intimate appargonl and perfume, approach pattern the trade they sell, and then catch with manufacturers to produce it sole(prenominal)ly for them. Victorias Secret is practicing: A. globalisation B. product-related marketing C. perpendicular integrating D. plain integration E. product diversification Because the retail chain aspirations and contracts its manufacturing firm, it is an representative of perpend icular integration. difficulty: fair Type: Application11. (p. 7) why is it opportune for retailers to be justly integrated? A.It is positive because retailers batch develop unique trade sold scarcely in their workshops. B. Retailers idler expand their service easily to the net income because they cannister work out posts to the manufacturer C. Retailers pull in certainized that to stay competitive, they essential blend in vertically integrated D. Customers prefer retailers who atomic number 18 vertically integrated. E. There is no avail to being vertically integrated. obstruction: heavy(a) Type: Comprehension12. (p. 7) A retailer that is vertically integrated: A. concentrates on selling to line of credites sole(prenominal) when B. does not moderate frequent communication amid emptors and managers C. as an excellent vertical relationship amongst corporate and stores D. performs more(prenominal) than one function in the chain from manufacturing to gross revenue to end user E. performs only one function to end user obstruction: sensitive Type: Definition13. (p. 7) __________________ arises when a retailer performs some dispersal and manufacturing activities, such as operating w argonhouses or purpose private- adjudicate production. A. Globalization B. Product-related marketing C. Backward integration D. Horizontal integration E. Forward integration hindrance: smooth Type: Definition14. (p. ) _______________ occurs when a manufacturer undertakes retail activities. A. Private label business B. Product-related marketing C. Backward integration D. Horizontal integration E. Forward integration barrier: Easy Type: Definition15. (p. 7) Retailers provide important functions that increase the value of the products and services they sell to consumers. Which of the succeeding(a) does not take on value function created by a retailer? A. Providing an pastiche of products and services B. reduce production cost with innovative design C. Breaking good deal D. keeping gillyflower E. Providing services fuss: Easy Type: Definition16. (p. 8) Which of the chase affirmations about(predicate) retailers place neckcloth is FALSE? A. By having inventory held in the store, consumers can hold less merchandise at home. B. By holding inventory, retailers can decrease the ocular merchandising expenditure. C. dimension inventory in a store helps serve the customers demand. D. Retailers keep inventory so products atomic number 18 useable when consumers want them. E. Holding inventory reduces consumers cost of storing products. worry: rarity Type: Comprehension17. (p. 8) Grocers purchase pineapples from some(prenominal) several(predicate) tropical countries.When pineapples arrive in the dissemination centers across the United States, containers atomic number 18 decrease to amounts that argon appropriate for store deli real. at a time delivered to the stores, associates open the cartons and arrange the pineapp les for the consumer to set apart. Grocers be acting what function? A. adaptive selling B. prisonbreak bulk C. acclimating D. dispersion E. transferring impediment: fair Type: Comprehension18. (p. 8) Providing assortments is an wagesous business drill because: A. it enables the high society to create a more informational and entertaining environment that would promote more sales B. t enables the confederation to reinvest for the coming(prenominal) of the business. C. it enables the customer to choose from a all-embracing selection of brands, designs, sizes and prices all in one store D. it enables the customer to try more products E. It enables the customer to stock up on the assortments because of bulk availability. barrier: sensitive Type: Application19. (p. 8) unmatchable of the functions retailers undertake to increase the customers information of value is providing services. Which of the followers would be an employment of that exertion? A. clean restrooms B. displaying merchandise C. aving deft sales tribe available to answer interrogatorys D. well-lit parking E. all of the to a higher place all of these functions argon provided by the retailer to make it easier for a customer to buy and use products. obstruction: Easy Type: Comprehension20. (p. 8) A credit total holds and maintains detailed records of the banking activities of its members. Each quarter, the credit coalescency provides its members a printout of banking activities, information about low rate loans and pre-owned automobiles. By contacting its members on a regular basis, the credit union is savoury in the business function of: A. prison-breaking bulk B. olding inventory C. providing assortments D. financing E. providing services Maintaining records and informing members argon services. trouble: Easy Type: Application21. (p. 9) Retailing is one of the nations epicst industries in terms of: A. community involvement B. craft C. contention D. promotions E. varie ty difficultness: Easy Type: Fact22. (p. 11) When considering the largest retailers piecewide, ___________ retailers continue to dominate among them. A. feed B. apparel C. drug D. home-improvement E. Internet problem: speciality Type: Comprehension23. (p. 11) Which of the following statements about the U.S. dispersal system is true? A. some people think the United States is understored. B. more a(prenominal) U. S. retailers are large enough to have their own warehouses and have eliminated their need for wholesalers. C. When differentiated to retail absorption in Europe, the United States is very low. D. The weeny force store is the fastest outgrowth role of U. S. retailer. E. every(prenominal) of the preceding(prenominal) statements about the U. S. statistical distribution system are false. The U. S. is probably all all overstored. The U. S. has the great retail denseness in the world. The large store with over 20,000 square feet is the fastest increase ima ge of U. S. etailer. Difficulty: Medium Type: Fact24. (p. 11) The Chinese distribution system: A. has more people employed in distribution than the U. S. B. is characterized by bitty stores with a large wholesale industry C. is more efficient than the distribution system in the U. S. D. is more corresponding to U. S. distribution systems than Europes systems E. none of the above Difficulty: Medium Type: Fact25. (p. 11) The fastest growing retailers in the United States sell by: A. kiosks in malls and department stores B. large stores with over 20,000 square feet C. outlet stores D. small forcefulness stores E. he Internet Difficulty: Medium Type: Fact26. (p. 12) What genes have created differences in the distribution systems in the study markets? A. geography B. market size C. the high population density in Europe, China, and India D. different social and political objectives E. all of the above Difficulty: Easy Type: Fact27. (p. 12) Which of the following is NOT authoritativ e when explaining what created differences indoors the distribution system of the study international markets? A. China and India have many large businesses to reduce unemployment. B. E. U. has many large retailers to achieve economy of scales. C. E. U. countries protect small retailers. D. China has many large retailers because it has an abundance of low-cost real estate available for pull ining large stores. Difficulty: expectant Type: Fact28. (p. 12) Which of the following is NOT on-key in describing distribution systems within major international markets? A. The U. S. distribution system has the great retail density and the greatest density of large retail firms. B. The Indian distribution systems are characterized by small stores operated by small firms and a large fencesitter wholesale industry. C. In the Chinese distribution system, the merchandise often passes through with(predicate) several takes of distribution to make the daily deliveries to the small retailers efficient. D. Northern European retailing is like to efficient distribution system in the U. S. E. Southern European retailing is split across all sectors. F. All of the above is true. G. None of the above is true. Difficulty: Medium Type: Comprehension29. (p. 16) The arguing between the equal typefaces of retailers is called: A. intertype competitor B. indirect competition C. intratype competition D. scramble merchandising E. vertical integration Difficulty: Easy Type: Definition30. (p. 16) CVS, Walgreens and ordinance Aid are _________ competitors. A. indirect B. intratype C. intertype D. vertical E. horizontal All three course killers utilize the same format Difficulty: Medium Type: Application31. (p. 16) Macys, Belk, JCPenney and Nordstrom are ___________ competitors. A. channel B. vertical C. intertype D. intratype E. none of the above All three department stores use the same format Difficulty: Medium Type: Application32. (p. 16) Which of the following would be an intr atype competitor for a Home Depot supermarket? A. Target B. Lowes C. Kroger D. Macys E. All of the above Lowes is a home-improvement center Difficulty: Easy Type: Application33. (p. 16) What is variety? A. cast is the upshot of different items in a category. B. Variety is the number of different SKUs within a merchandise category. C. Variety is the number of different merchandise categories within a store. D. Variety is anformer(a) term for scrambled merchandising. E. Variety is the number of different facets of the business plan. Difficulty: Medium Type: Definition34. (p. 16) When taco Bell opened its first restaurant, a hungry patron could order a taco, a burrito and a Coke. In those aboriginal years, Taco Bell did not offer much: A. assortment B. product shrewdness C. quantity D. value E. variety Difficulty: Medium Type: Application35. (p. 16) Dillards sells Godiva chocolates and coffees in their stores. By selling such products, Dillards is: A. oblation a good merchandise flux B. offering what the market demands C. offering deep product assortments D. practicing scrambled merchandising E. practicing intratype competition Difficulty: Medium Type: Application36. (p. 16) The offering of merchandise not typically associated with the store type is called: A. scrambled merchandising B. ntratype competition C. product diversification D. channel conflict E. vertical differentiation Difficulty: Easy Type: Definition37. (p. 16) While vacationing at the beach, Delia was lucky to see that the local Walgreens carried milk, b examine, apples and bananas. Her delight indicates she has neer seen: A. a deep product assortment B. an acceptable merchandising liquefy C. a retail miscellanea D. scrambled merchandising E. this type of intratype competition Difficulty: Medium Type: Application38. (p. 16) Scrambled merchandising increases: A. vertical integration B. intertype competition C. concentric diversification D. orizontal integration E. intratype competition D ifficulty: Medium Type: Comprehension39. (p. 16) Which of the following would be an example of intertype competition? A. a supermarket and a impudent flower stand B. a specialty store and a fast sustenance restaurant C. a supercenter and a apothecarys shop D. a convenience store and a department store E. all of the above Difficulty: Easy Type: Application40. (p. 16) The Lands completion Web site, the JCPenney catalog, and the Sears area all in ____________ competition. A. channel B. horizontal C. indirect D. intertype E. intratype They all sell interchangeable products, but use different formats to do so. Difficulty: expectant Type: Comprehension41. (p. 16) Increasing intertype competition has do it harder for retailers to identify their: A. competition B. butt market C. merchandise mix D. retail mix E. none of the above Difficulty: Medium Type: Comprehension42. (p. 16) The intensity of competition is greatest among retailers when: A. price dominates the retail mix B. they a re located near each separate and offer similar retail offerings C. they are located near each early(a) and target the same customer D. they are located far from each other and offer similar retail offerings E. hey are located far from each other and target the same customer Difficulty: vexed Type: Comprehension43. (p. 16) Since convenience of location is important in store choice, a stores proximity to competitors is a critical factor in identifying: A. competition B. ethical standards C. real estate negotiations D. the target market E. which merchandise to scramble Difficulty: Medium Type: Comprehension44. (p. 18) Once a retailer determines its environment, it needs to develop and utilize a: A. feasible customer base B. advertising plan C. retail schema D. competitive schema E. functional scheme The retail scheme is actual after information is garner in a situation synopsis. Although similar in theory to a business plan, it is specific to the retailing industry. Dif ficulty: Easy Type: Application45. (p. 18) The retail schema helps a retailer to identify the following excerpt: A. The target market toward which the retailer pass on direct its efforts. B. The nature of the merchandise and services the retailer volitioning offer to indulge the needs of the target market. C. How the retailer will build a semipermanent good over its competitors. D. Break-even point for making net E. All of the above Difficulty: Easy Type: Application46. (p. 18) When developing the _________________ for his new neaten shop, Theo decided to obtain a semipermanent competitive service over other salons by offering longer hours, discontinue prices, a well trained rung and half-price perm day all Wednesday to attract customers. A. selling thought B. business cycle C. retail strategy D. central point orientation E. marketing concept A retail strategy statement identifies the target market, the merchandise and services, and how the retailer will build a long- term advantage over its competitors. All three of these elements are present in the question. Difficulty: Medium Type: Application47. (p. 18) As the owner of a store specializing in mens suits, Isabella can use a retail strategy statement to identify all of the following EXCEPT: A. the advertising guide developed to sell last seasons merchandise B. the shops target market C. how the store will build a competitive advantage over Mens Warehouse D. what services the shop will offer its customers E. what types of suits the store will stock A retail strategy has to do with planning for the future and not foc use on a short problem. Difficulty: Hard Type: Application48. (p. 0) Which of the following strategies has JCPenney changed to compete effectively with the competition in the past? A. JCPenney centralize merchandise worry. B. JCPenney is make new stores off the mall. C. JCPenney is designing stores with centralized chit. D. JCPenney now ships merchandise through distribution ce nters. E. JCPenney is upgrading its merchandise offering by adding Frances cosmetics Sephora. F. All of the above Difficulty: Medium Type: Comprehension49. (p. 21) To implement a retail strategy, a retailer must develop a _____ that satisfies the needs of its target market correct than its competitors. A. production orientation B. horizontal integration C. sales orientation. D. retail mix. E. situation analysis The retail mix is the cabal of factors that satisfies customers needs. The others are not used for this purpose. Difficulty: Easy Type: Comprehension50. (p. 21) Once a well-articulated retail strategy has been developed, the nigh step is to: A. contract down the look into mechanism B. evaluate the yields of the strategy C. forecast future environmental trends D. brook that environmental conditions have not changed E. implement the strategy Once the strategy is developed, the next logical step is implementation.Nothing would get consummate if a retailer repeatedly wen t back to step 1 as in Alternatives C and D. The final stage in the fulfil is the evaluation of the strategy. Overriding the control mechanism would not be a good idea in any case. Difficulty: Hard Type: Comprehension51. (p. 21) The combination of factors retailers use to satisfy customer needs and influence their purchase decisions is called the firms: A. retailing manifold B. retail mix C. marketing strategy D. target group E. none of the above Difficulty: Easy Type: Definition52. (p. 21) Which of the following is part of a retailers retail mix? A. advertising B. displays C. trained salespeople D. services offered E. all of the above All of the choices are elements within the retail mix. Difficulty: Easy Type: Definition53. (p. 21) Which of the following is NOT an element in the retail mix? A. competitive receipt B. merchandise assortments C. location D. customer service E. advertising and promotion The elements of the retail mix include customer service, store design and displ ay, advertising and promotion, location, assortments and pricing. Difficulty: Easy Type: Definition54. (p. 21) Which of the following parts of the retail mix can be utilized by a small hardware store? A. bright lighting in the store, which makes it easier to read the messages B. a new ad campaign that uses both(prenominal) radio and newspaper media C. store location next door to a hospital D. attractive point-of-purchase displays at the ends of the stores aisles E. all of the above Store design, location, and advertising programs are all part of the retail mix. Difficulty: Medium Type: Application55. (p. 23) What are the principles politics the behavior of the individual and the fraternity? A. morals B. retail strategy C. training guidelines D. company culture E. Civil Rights Act of 1964 Difficulty: Easy Type: Definition56. (p. 23) Belinda is a swimwear buyer for a major department store. She will allow vendors to purchase her lunch at the local coffee shop when they visit. One October, she dined with a new vendor to converse a progressive line of mens swimwear that is popular in resorts throughout the Caribbean. Belindas terminal was to assess the assortments for her company in order to see if the product was a good fit for the company brand. During lunch, the vendor invited Belinda for an all-expense give weekend trip to Jamaica to see the popularity of the merchandise. His aim was to enable her to make a more educated decision when buying. Belinda hesitated to accept because of: A. personal and professional ethics B. the scheduling of the buy for the spring season C. the price of the exclusive merchandise would not match the income level of her target market D. the manufacturer would be unable to develop the line in time for spring E. her inability as a buyer to alter the visual merchandising for the store Difficulty: Medium Type: Application Essay Questions57. (p. 7) What is the retailers role in a supply chain? The retailers role in the distributi on channel is to link manufacturers with onsumers by directing their efforts to fit the needs of the ultimate consumers. Difficulty: Medium58. (p. 8) tend the quartet functions performed by retailers. The four functions performed by retailers are (1) providing an assortment of products and services, (2) breaking bulk, (3) holding inventory, and (4) providing services. Difficulty: Easy59. (p. 8) With manufacturers legally able to sell direct from the factories, why should retailers follow? In the retailing distribution channel, there are occasions when manufacturers sell directly to the ultimate consumer. While occasionally doing so, manufacturers mainly exist to manufacture products to satisfy the needs of a wholesaler or retailer. Retailers exist because they direct their efforts and specialize in satisfying only the customers needs. Retailers exist because they increase the value consumers aim. Difficulty: Medium60. (p. 16) Distinguish between intratype competition and intert ype competition. come about an example of each. Intratype competition refers to the competition between retailers with the same format. An example would be the competition between Publix and BiLo for sale of sporty salmon. Intertype competition refers to retailers that sell similar merchandise utilise different formats. An example would be the sale of Revlon Color-Stay Lipstick between CVS and Target. Difficulty: Easy61. (p. 16) why would a Walgreens add novelty gifts, fresh bread, pre-wrapped sandwiches and milk to its product mix? Walgreens is savory in scrambled merchandising. They have added these products; and therefore, call down more to a broader group of customers, season providing one-stop shopping for our time-starved society. Difficulty: Medium62. (p. 16) A chef wants to open an Italian restaurant in the suburbs of a large city. How should she identify the competition? This question can have a variety of responses, but she could first look at the obvious and identif y other Italian restaurants near her location. Is her location the best? She should consider frozen Italian entrees at close grocery stores. She should also consider the prices of the entrees she offers and compare them to the prices of other types of restaurants. Difficulty: Medium63. (p. 17) Why do retailers consider customers important when developing a retail strategy? Retailers need to understand customers and how they are changing so that they can better satisfy their needs. Retailers need to pick out and understand why customers shop, how they select stores and how they select from that stores merchandise. Difficulty: Medium64. (p. 18) What are the three things place by a retail strategy statement? (1) The target market toward which the retailer will direct its efforts, (2) the nature of the merchandise and services the retailer will offer to satisfy the needs of the target market, and (3) how the retailer will build a long-term advantage over its competitors. Difficulty: Medium65. (p. 18) Why is location strategy important for both consumers and for competitive reasons? 1) Location is typically the to the highest degree important characteristic consumers consider when selecting a store. (2) A good location creates a long-term advantage over the competition. Difficulty: Medium66. (p. 19) The success of discount stores poses a growing threat for JCPenney. To compete effectively with these retailers, the company instituted some radical changes. Discuss four changes the company made and how JCPenney expects the changes to better satisfy its target market. (1) JCPenney is reducing its distribution be by shipping merchandise through its distribution centers rather than using direct delivery from vendors to stores. 2) JCPenney centralized merchandise management. quite than having sore managers make merchandise decisions, merchandise decisions are made by JCPenney buyers in the corporate headquarters to save costs and respond quicker. (3) To increase cus tomer convenience, JCPenney is building new stores off the mall. (4) To increase convenience, the company is also installing centralized checkout counters in each area of the store. Difficulty: Medium Fill in the unemployed Questions67. (p. 7) Renting a tuxedo, the purchase of a videodisk on Amazon. om, buying a Ronco Veg-O-Matic after watching an infomercial, and getting a facial are all examples of ________ activitiesâ€the sale of goods and services to the ultimate consumer. retailing Difficulty: Easy68. (p. 7) A _____ is a business that sells products and services to ultimate consumers. retailer Difficulty: Easy69. (p. 7) Retailers are the final business in a distribution channel that link __________ to consumers. manufacturers Difficulty: Easy70. (p. 7) A _____________ is a set of businesses that depart products from the point of production to the point of sale to the ultimate consumer. distribution channel Difficulty: Easy71. (p. 7) When a retailer like L. L. bean desig ns merchandise as well as sells the merchandise, _________ is occurring. vertical integration Difficulty: Medium72. (p. 8) By providing assortments, breaking bulk, holding inventory, and providing services, retailers increase the ___________ consumers receive from their products and services. value Difficulty: Medium73. (p. 9) _______________ describes the voluntary actions interpreted by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders. incorporated social responsibility Difficulty: Easy74. (p. 6) When capital of Texas saw pastries and coffee at his local bookstore, he knew it was an example of __________, which is the juxtaposition of unrelated merchandise in the store. scrambled merchandise Difficulty: Medium75. (p. 16) Scrambled merchandising increases _______, which occurs between retailers that sell similar merchandise using different formats, such as specialty and discount stores. intertype c ompetition Difficulty: Medium76. (p. 19) The philosophy, strategies, programs and systems that digest on identifying and building loyalty with a retailers most valued customers are called _______________. customer relationship management Difficulty: Medium77. (p. 23) _________ are the principles governing the behavior of individuals and companies. Ethics Difficulty: Easy Short Answer Questions78. (p. 8) shell Buy purchases many of the CDs, Playstation 2 games, DVDs and DVD players by the truckload then sells them in smaller quantities to its stores where consumers are allowed to buy them one at a time. What business function is best Buy performing? breaking bulk Difficulty: Medium79. (p. 8) Costco buys directly from manufacturers. They have merchandise shipped to their warehouses for storage, and then distribute the merchandise to their stores. What term is used to describe this type of activity? vertical integration Difficulty: Medium80. (p. 14) Which retailer had its humble be ginnings in rural atomic number 18 and now is the largest retailer in the world? Wal-Mart Difficulty: Easy81. (p. 15) What is the first step in the retail management decision process? getting an understanding of the world of retailing Difficulty: Medium82. (p. 16) When is the intensity of competition between retail stores the greatest? when they are touch in intratype competition Difficulty: Medium83. (p. 16) What type of merchandising increases intertype competition? crambled merchandising Difficulty: Medium84. (p. 18) The bird sanctuary is a pet shop that focuses on birds and their accoutrements for bird lovers. The shop carries cages, perches, toys and even gourmet seed and dried fruits. It sponsors a bird club where members can bring their pets to share with other bird lovers. The store provides an inexpensive veterinary service. It even has a 3-month guarantee when you purchase a bird. The Aviary has created loyalty from its customers and continuously attracts new ones becau se of the services offered. What does this describe? It describes the stores retailing strategy. The paragraph describes the target market, the merchandise and services and how it maintains a strategic advantage over competitors. Difficulty: Hard85. (p. 19) Why do retailers use point of sale (POS) terminals to read Universal Product Codes (UPC) and electronic data interchange (EDI) to send sales and inventory information from electronic computer to computer? These technologies allow retailers to have a better idea of what is selling and a focusing to quickly communicate that information to vendors so that replenishment can quickly occur. to boot it gives the retailer a competitive advantage over retailers that do not work with current supply chain management systems. Difficulty: Hard86. (p. 23) When making the strategic and tactical decisions managers need to consider the effects of their decisions on the profitability of their firms and the satisfaction of their customers. What o ther implications must managers consider as a result of their decisions? ethical and legal implications Difficulty: Hard\r\n'