Question 1

A business in Kansas City,Missouri,looking to rent office space should use a(n) __________ to help it locate the most suitable space at the best possible rate.

Accepted Answer

A)  selling agent
B)  broker
C)  manufacturer's representative
D)  manufacturer's agent
E)  administratorF) B) and D)
G) A) and B)

Question 2

The marketing managers at Omaha Steaks used airlines' databases to mail a special offer to frequent flyers.Eight weeks after shipping the steaks to the frequent flyers who responded to the offer,the company's salespeople followed up by telephoning customers to ask for new orders.This is an example of which types of nonstore retailing?

Accepted Answer

A)  direct selling and telemarketing
B)  direct-mail and telemarketing
C)  telemarketing and online retailing
D)  online retailing and direct-mail
E)  direct-mail and direct sellingF) A) and D)
G) C) and D)

Question 3

The marketing metrics related to a retailer's products or merchandise include all of the following EXCEPT:

Accepted Answer

A)  the cost of carrying inventory.
B)  the inventory turnover.
C)  the average number of items per transaction.
D)  the number of returns.
E)  the average length of a store visit.F) A) and E)
G) A) and D)

Question 4

Wholesalers who handle a limited assortment of fast-moving or perishable items that are sold for cash directly from trucks in their original packages are referred to as __________.

Accepted Answer

A)  rack jobbers
B)  drop shippers
C)  truck jobbers
D)  cash and carry wholesalers
E)  manufacturer's representativesF) D) and E)
G) A) and E)

Question 5

A huge shopping strip with multiple anchor (or national) stores is referred to as a __________.

Accepted Answer

A)  central business district
B)  regional shopping center
C)  community shopping center
D)  strip mall
E)  power centerF) A) and E)
G) All of the above

Question 6

Four of the 30 largest businesses in the United States are retailers-Walmart,Costco,Home Depot,and _________.

Accepted Answer

A)  Sears
B)  Target
C)  Best Buy
D)  JC Penney
E)  BloomingdaleF) A) and B)
G) A) and C)

Question 7

Off-price retailing refers to the

Accepted Answer

A)  differences between the final selling price and the retailer's cost.
B)  sale of brand name merchandise at lower than regular prices.
C)  sales of merchandise at maintained markups.
D)  amount added by the manufacturer to achieve the desired suggested retail price.
E)  reduction in retail price usually expressed as the gross margin.F) B) and E)
G) A) and C)

Question 8

Most stores today are near several others in one of four settings: the central business district,the regional shopping center,the strip mall,or the __________.

Accepted Answer

A)  rural micromall
B)  urban megacenter
C)  power center
D)  exurb value center
E)  suburban downtownF) C) and D)
G) A) and C)

Question 9

An IKEA mail order catalog is an example of __________ retailing.

Accepted Answer

A)  intrusive
B)  intertype
C)  scrambled
D)  nonstore
E)  hypermarketF) C) and E)
G) B) and D)

Question 10

A manufacturer's branch office

Accepted Answer

A)  carries a producer's inventory and performs the functions of a full-service wholesaler.
B)  performs a sales function as an option to agents and brokers.
C)  works for several producers and carries noncompetitive,complementary merchandise in an exclusive territory.
D)  takes title to merchandise but sells only to buyers who call on them,pays cash for merchandise,and furnishes their own transportation for the merchandise.
E)  brings buyers and sellers together to make sales.F) A) and B)
G) B) and C)

Question 11

Specialty stores and department stores,which provide many services to their customers,are frequently categorized by which level of service?

Accepted Answer

A)  full-service
B)  exclusive-service
C)  minimal-service
D)  self-service
E)  limited-serviceF) A) and B)
G) C) and E)

Question 12

Which type of outlet is most likely in its maturity stage of the retail life cycle?

Accepted Answer

A)  single-price stores
B)  value-retail centers
C)  online retailers
D)  business-district retailers
E)  convenience storesF) A) and E)
G) All of the above

Question 13

Level of service is used to describe the degree of service provided to the customer.Three levels of service are provided by self-,_________-,and full-service retailers.

Accepted Answer

A)  limited
B)  commitment
C)  involvement
D)  obligation
E)  pledgeF) A) and E)
G) B) and D)

Question 14

One way neighborhood grocers can take advantage of volume discounts commonly available to corporate chains is to

Accepted Answer

A)  purchase a franchise membership.
B)  become a subsidiary of a larger supermarket chain like Kroger.
C)  join a professional merchant association and hire food brokers to negotiate lower prices for produce and dry goods.
D)  create a grocery networking system to exchange coupon vouchers.
E)  participate in a retailer-sponsored cooperative with other independent grocers.F) B) and D)
G) C) and E)

Question 15

Wholly-owned extensions of the producer that perform wholesaling activities are referred to as

Accepted Answer

A)  general merchandise wholesalers.
B)  cash and carry wholesalers.
C)  agents and brokers.
D)  manufacturer's branches and sales offices.
E)  merchant wholesalers.F) A) and D)
G) B) and E)

Question 16

Retailers like Williams-Sonoma that sell products through retail stores,catalogs,and online are examples of __________.

Accepted Answer

A)  intertype competitors
B)  multichannel retailers
C)  vertically-integrated retailers
D)  scrambled merchandisers
E)  dual distributorsF) B) and C)
G) C) and E)

Question 17

Walmart recently introduced "Pick Up Today" service that

Accepted Answer

A)  offers shoppers a virtual reality shopping experience from their home computers.
B)  allows customers to order online and receive free same-day pickup at a local store.
C)  allows customers to place lay-away orders online and keep them at the store until they are fully paid.
D)  allows customers to surf the Internet to compare prices; for those that find a better deal,they can e-mail Walmart and the retailer will honor competitors' lowest price.
E)  allows customers hold online auctions for Walmart overstock or seasonal items that are being discontinued to make room for new inventory.F) None of the above
G) D) and E)

Question 18

The largest inventory of wedding dresses in the Southeast can be found at Low's Bridal and Formal in Brinkley,Arkansas.From December 26 to January 16,a prospective bride shopping at Low's can find gowns once priced at $6,000 for $2,999 and $800 gowns for $399.The reduced prices of these gowns are reflected in which retail pricing strategy?

Accepted Answer

A)  markdowns
B)  original markups
C)  maintained markups
D)  inventory shrinkages
E)  net markupsF) A) and D)
G) B) and D)

Question 19

Another term for gross margin is __________.

Accepted Answer

A)  original markup
B)  markdown
C)  return on sales
D)  discounted price
E)  maintained markupF) A) and B)
G) A) and C)

Question 20

Impressions of the corporation that operates the store,the category or type of store,the product categories in the store,the brands in each category,merchandise and service quality,and the marketing activities of the store all contribute to the store's

Accepted Answer

A)  prices.
B)  image.
C)  emotional feelings.
D)  name.
E)  psychological attributes.F) A) and E)
G) C) and D)

Exam 13: Retailing and Wholesaling

Four of the 30 largest businesses in the United States are retailers-Walmart,Costco,Home Depot,and _________.

Correct Answer
verified

Level of service is used to describe the degree of service provided to the customer.Three levels of service are provided by self-,_________-,and full-service retailers.

Correct Answer
verified

Wholesalers who handle a limited assortment of fast-moving or perishable items that are sold for cash directly from trucks in their original packages are referred to as __________.

Correct Answer
verified

A business in Kansas City,Missouri,looking to rent office space should use a(n) __________ to help it locate the most suitable space at the best possible rate.

Correct Answer
verified

Most stores today are near several others in one of four settings: the central business district,the regional shopping center,the strip mall,or the __________.

Correct Answer
verified

Walmart recently introduced "Pick Up Today" service that

Correct Answer
verified

Correct Answer
verified

One way neighborhood grocers can take advantage of volume discounts commonly available to corporate chains is to

Correct Answer
verified

Correct Answer
verified

Impressions of the corporation that operates the store,the category or type of store,the product categories in the store,the brands in each category,merchandise and service quality,and the marketing activities of the store all contribute to the store's

Correct Answer
verified

A manufacturer's branch office

Correct Answer
verified

Off-price retailing refers to the

Correct Answer
verified

The marketing metrics related to a retailer's products or merchandise include all of the following EXCEPT:

Correct Answer
verified

Wholly-owned extensions of the producer that perform wholesaling activities are referred to as

Correct Answer
verified

Which type of outlet is most likely in its maturity stage of the retail life cycle?

Correct Answer
verified

A huge shopping strip with multiple anchor (or national) stores is referred to as a __________.

Correct Answer
verified

Specialty stores and department stores,which provide many services to their customers,are frequently categorized by which level of service?

Correct Answer
verified

An IKEA mail order catalog is an example of __________ retailing.

Correct Answer
verified

Retailers like Williams-Sonoma that sell products through retail stores,catalogs,and online are examples of __________.

Correct Answer
verified

Another term for gross margin is __________.

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Four of the 30 largest businesses in the United States are retailers-Walmart,Costco,Home Depot,and _________.

Correct AnswerverifiedShow Answer

Level of service is used to describe the degree of service provided to the customer.Three levels of service are provided by self-,_________-,and full-service retailers.

Correct AnswerverifiedShow Answer

Wholesalers who handle a limited assortment of fast-moving or perishable items that are sold for cash directly from trucks in their original packages are referred to as __________.

Correct AnswerverifiedShow Answer

A business in Kansas City,Missouri,looking to rent office space should use a(n) __________ to help it locate the most suitable space at the best possible rate.

Correct AnswerverifiedShow Answer

Most stores today are near several others in one of four settings: the central business district,the regional shopping center,the strip mall,or the __________.

Correct AnswerverifiedShow Answer

Walmart recently introduced "Pick Up Today" service that

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

One way neighborhood grocers can take advantage of volume discounts commonly available to corporate chains is to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Impressions of the corporation that operates the store,the category or type of store,the product categories in the store,the brands in each category,merchandise and service quality,and the marketing activities of the store all contribute to the store's

Correct AnswerverifiedShow Answer

A manufacturer's branch office

Correct AnswerverifiedShow Answer

Off-price retailing refers to the

Correct AnswerverifiedShow Answer

The marketing metrics related to a retailer's products or merchandise include all of the following EXCEPT:

Correct AnswerverifiedShow Answer

Wholly-owned extensions of the producer that perform wholesaling activities are referred to as

Correct AnswerverifiedShow Answer

Which type of outlet is most likely in its maturity stage of the retail life cycle?

Correct AnswerverifiedShow Answer

A huge shopping strip with multiple anchor (or national) stores is referred to as a __________.

Correct AnswerverifiedShow Answer

Specialty stores and department stores,which provide many services to their customers,are frequently categorized by which level of service?

Correct AnswerverifiedShow Answer

An IKEA mail order catalog is an example of __________ retailing.

Correct AnswerverifiedShow Answer

Retailers like Williams-Sonoma that sell products through retail stores,catalogs,and online are examples of __________.

Correct AnswerverifiedShow Answer

Another term for gross margin is __________.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified