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Exam 14: Retailing and Wholesaling

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Question 31

True/False

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speciality stores and department stores are limited service retailers.

A) True
B) False

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Question 32

Multiple Choice

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Retailers who typically offer some sales assistance and information as well as credit and merchandise return services to support the sale of the shopping goods they carry are known as:

A) low- service.
B) limited- service.
C) self- service.
D) no service.
E) full- service.

F) C) and D)
G) A) and B)

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Question 33

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While online retailing has taken market share from store retailers, a large percentage of online retail sales are conducted by store retailers themselves.

Which of the following product differentiation strategies would NOT allow retailers to significantly distinguish themselves from others?

A store that consistently offers merchandise at lower prices, offering national brands rather than inferior goods or seconds is referred to as a(n) :

Swedish retailer, IKEA, understands that prospective customers will spend more time in store, browsing and comparing prices if they are not encumbered with children. Accordingly, all IKEA stores offer a children's play area that is fully supervised by qualified attendants at no charge to IKEA patrons. The children's play area is an example of:

A _________consists of a wholesaler- sponsored group of independent retailers engaged in bulk buying and common warehousing.

The wholesaler who brings buyers and sellers together and assists in negotiation is called a:

The relationship between broker and customer is more permanent than the relationship between agent and customer.

Franchising is one of the fastest growing forms of retail.

Tom loves to go to the Nike Store where he finds athletic shoes and clothing at lower prices than at department stores. The Nike Store carries leftover merchandise, overruns and irregulars. This retail store is an example of a:

A role similar to that of brokers or agents, but which is part of the buyer's organisation is performed by a:

Brokers are essentially specialists who locate buyers or sellers, bring the two parties together, and assist in negotiation.

How do wholesalers' marketing decisions differ from a retailer's?

Retailers can be classified in a variety of ways. Which of the following is NOT one of the standard ways to classify retail operations?

Manufacturers' agents, also called manufacturers' representatives, are owned by the manufacturer.

Which of the following statements about off- price retailers is TRUE?

Corporations that combine several different retailing forms under central ownership and that share some distribution and management functions are called:

Both wholesale merchants and industrial distributors are a type of full- service wholesaler.

A store that sells at less than standard retail prices, but tends to offer an unstable and changing collection of higher quality merchandise, including leftover goods, production overruns and irregular items obtained at reduced prices from independent manufacturers is known as a(n) :