Question 1

Most stores today are near several others in one of five settings: the central business district,the regional center,the community 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) A) and B)
G) C) and D)

Question 2

There are three general forms of retail ownership: contractual system,corporate chain,and __________.

Accepted Answer

A)  dual ownership
B)  industry consortium
C)  retailing cooperative
D)  independent retailer
E)  multi-national cartelF) A) and E)
G) B) and C)

Question 3

All of the following are forms of nonstore retailing EXCEPT:

Accepted Answer

A)  direct selling.
B)  television home shopping.
C)  factory outlets.
D)  online retailing.
E)  telemarketing.F) B) and E)
G) A) and D)

Question 4

Kitchen Window is a is a one-stop treasure trove for cooks.The locally-owned gourmet specialty store carries more than 14,000 items in stock.Its knowledgeable staff offers personalized service that will even gift-wrap your purchases free of charge.It also offers a shop for repairs should your appliances need maintenance.Kitchen Window is a __________ retailer.

Accepted Answer

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

Question 5

The National Retail Federation estimates that about __________ of retail sales is due to shrinkage.

Accepted Answer

A)  1.4%
B)  2.0%
C)  2.4%
D)  3.0%
E)  5.0%F) A) and E)
G) C) and D)

Question 6

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

Accepted Answer

A)  the number of customers per day or per hour.
B)  the average length of a store visit.
C)  the turnover of inventory.
D)  the average transaction size per customer.
E)  the number of transactions per customer.F) A) and B)
G) B) and E)

Question 7

What is category management and when is it used?

Accepted Answer

Category management is used to manage th...

Question 8

In a(n) __________,an individual or firm contracts with a parent company to set up a business or retail outlet.

Accepted Answer

A)  administered system
B)  vertically integrated chain
C)  retail-sponsored cooperative
D)  franchise system
E)  corporate systemF) B) and E)
G) B) and C)

Question 9

A hypermarket refers to

Accepted Answer

A)  category killers that specialize in electronics.
B)  a form of intertype competition consisting of general merchandise stores.
C)  shopping malls anchored by four or more department stores such as Sears or Nordstrom's.
D)  a form of limited-service outlets focusing on general merchandise like that offered in department stores.
E)  a form of scrambled merchandising,which consists of large stores with (more than 200,000 square feet) that offers everything in a single outlet,eliminating the need for consumers to shop at more than one location.F) A) and C)
G) D) and E)

Question 10

Emphasizing consistently low prices and eliminating most markdowns is referred to as __________.

Accepted Answer

A)  low-margin pricing
B)  everyday low pricing
C)  everyday fair pricing
D)  value-based pricing
E)  maintained pricingF) B) and C)
G) A) and B)

Question 11

The four major types of limited-service merchant wholesalers are rack jobbers,cash and carry wholesalers,truck jobbers,and __________.

Accepted Answer

A)  machine vendors
B)  credit line wholesalers
C)  drop shippers
D)  transport vendors
E)  container transport vendorsF) A) and B)
G) A) and E)

Question 12

Loehmann's is an upscale,off-price specialty retailer that sells name-brand designer fashions.A few salespeople are available for selected departments,but customers are responsible for most of their shopping activities.Loehmann's provides its consumers with

Accepted Answer

A)  full-service.
B)  limited service.
C)  self- service.
D)  restricted service.
E)  functional service.F) B) and C)
G) A) and E)

Question 13

Currently,the three largest television home shopping programs in the United States are

Accepted Answer

A)  QVC,HSN,and ShopNBC.
B)  Shop at Home,QVC,and HSN.
C)  Direct Shopper,Shop at Home,and ShopNBC.
D)  ValueVision,Shop at Home,and QVC.
E)  Shop America,Direct shopper,and J.S.Global.F) B) and C)
G) None of the above

Question 14

Which method of classifying retail outlets would be most appropriate for describing franchise operations?

Accepted Answer

A)  form of ownership
B)  level of service
C)  merchandise line
D)  method of operation
E)  revenues generatedF) A) and D)
G) All of the above

Question 15

Which of the following retailers would best fit in "D" shown in Figure 16-8 above?

Accepted Answer

A)  Kmart
B)  Payless ShoeSource
C)  Dillard's department store
D)  7-Eleven
E)  Tiffany & Co.F) A) and B)
G) C) and D)

Question 16

Located predominately in Europe,these large stores (more than 200,000 square feet) ,which offer thousands of different food,grocery,and general merchandise products,are referred to as

Accepted Answer

A)  discount wholesalers.
B)  discount retailers.
C)  supermarkets.
D)  hypermarkets.
E)  retail cooperatives.F) B) and D)
G) A) and B)

Question 17

Retailing is an important marketing activity.Not only do producers and consumers meet through retailing actions,but retailing also creates __________.

Accepted Answer

A)  the nation's largest source of tax revenues
B)  the largest source of charitable contributions
C)  limited utilities for consumers
D)  customer value
E)  a sense of communityF) A) and D)
G) A) and B)

Question 18

A maintained markup refers to

Accepted Answer

A)  the difference between the final selling price and the retailer's cost.
B)  the amount subtracted from the cost the retailer paid for a product to reach the initial selling price.
C)  the amount the manufacturer adds to achieve the desired suggested retail price.
D)  the net margin.
E)  the highest price listed for the product.F) A) and E)
G) A) and B)

Question 19

In response to the changes in the United States,many direct sellers are implementing a __________ strategy by expanding into other countries with their current product lines.

Accepted Answer

A)  market development
B)  market penetration
C)  accelerated development
D)  product development
E)  diversificationF) A) and D)
G) D) and E)

Question 20

The use of displays,coupons,product samples,and other brand communications to influence shopping behavior in a store is referred to as

Accepted Answer

A)  functional qualities
B)  level of service
C)  shopper marketing
D)  lifestyle attributes
E)  psychographic elementsF) C) and D)
G) All of the above

Exam 16: Retailing and Wholesaling

In a(n) __________,an individual or firm contracts with a parent company to set up a business or retail outlet.

Correct Answer
verified

All of the following are forms of nonstore retailing EXCEPT:

Correct Answer
verified

Retailing is an important marketing activity.Not only do producers and consumers meet through retailing actions,but retailing also creates __________.

Correct Answer
verified

Currently,the three largest television home shopping programs in the United States are

Correct Answer
verified

Located predominately in Europe,these large stores (more than 200,000 square feet) ,which offer thousands of different food,grocery,and general merchandise products,are referred to as

Correct Answer
verified

Emphasizing consistently low prices and eliminating most markdowns is referred to as __________.

Correct Answer
verified

Which of the following retailers would best fit in "D" shown in Figure 16-8 above?

Correct Answer
verified

What is category management and when is it used?

Correct Answer
verified
Category management is used to manage th...
View Answer

There are three general forms of retail ownership: contractual system,corporate chain,and __________.

Correct Answer
verified

A maintained markup refers to

Correct Answer
verified

Correct Answer
verified

Loehmann's is an upscale,off-price specialty retailer that sells name-brand designer fashions.A few salespeople are available for selected departments,but customers are responsible for most of their shopping activities.Loehmann's provides its consumers with

Correct Answer
verified

A hypermarket refers to

Correct Answer
verified

The National Retail Federation estimates that about __________ of retail sales is due to shrinkage.

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

The use of displays,coupons,product samples,and other brand communications to influence shopping behavior in a store is referred to as

Correct Answer
verified

Which method of classifying retail outlets would be most appropriate for describing franchise operations?

Correct Answer
verified

In response to the changes in the United States,many direct sellers are implementing a __________ strategy by expanding into other countries with their current product lines.

Correct Answer
verified

The four major types of limited-service merchant wholesalers are rack jobbers,cash and carry wholesalers,truck jobbers,and __________.

Correct Answer
verified

Exam 16: Retailing and Wholesaling

In a(n) __________,an individual or firm contracts with a parent company to set up a business or retail outlet.

Correct AnswerverifiedShow Answer

All of the following are forms of nonstore retailing EXCEPT:

Correct AnswerverifiedShow Answer

Retailing is an important marketing activity.Not only do producers and consumers meet through retailing actions,but retailing also creates __________.

Correct AnswerverifiedShow Answer

Currently,the three largest television home shopping programs in the United States are

Correct AnswerverifiedShow Answer

Located predominately in Europe,these large stores (more than 200,000 square feet) ,which offer thousands of different food,grocery,and general merchandise products,are referred to as

Correct AnswerverifiedShow Answer

Emphasizing consistently low prices and eliminating most markdowns is referred to as __________.

Correct AnswerverifiedShow Answer

Which of the following retailers would best fit in "D" shown in Figure 16-8 above?

Correct AnswerverifiedShow Answer

What is category management and when is it used?

Correct AnswerverifiedCategory management is used to manage th...View AnswerShow Answer

There are three general forms of retail ownership: contractual system,corporate chain,and __________.

Correct AnswerverifiedShow Answer

A maintained markup refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Loehmann's is an upscale,off-price specialty retailer that sells name-brand designer fashions.A few salespeople are available for selected departments,but customers are responsible for most of their shopping activities.Loehmann's provides its consumers with

Correct AnswerverifiedShow Answer

A hypermarket refers to

Correct AnswerverifiedShow Answer

The National Retail Federation estimates that about __________ of retail sales is due to shrinkage.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The use of displays,coupons,product samples,and other brand communications to influence shopping behavior in a store is referred to as

Correct AnswerverifiedShow Answer

Which method of classifying retail outlets would be most appropriate for describing franchise operations?

Correct AnswerverifiedShow Answer

In response to the changes in the United States,many direct sellers are implementing a __________ strategy by expanding into other countries with their current product lines.

Correct AnswerverifiedShow Answer

The four major types of limited-service merchant wholesalers are rack jobbers,cash and carry wholesalers,truck jobbers,and __________.

Correct AnswerverifiedShow Answer

Correct Answer
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verified
Category management is used to manage th...
View Answer

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