Question 1

Direct-mail and catalog retailing are examples of __________.

Accepted Answer

A)  nonstore retailing
B)  intertype retailing
C)  online retailing
D)  print-media retailing
E)  dual retailingF) C) and D)
G) A) and B)

Question 2

Consumers often use the prices of __________ items,such as a can of Coke,to form an overall impression of the store's prices.

Accepted Answer

A)  benchmark
B)  stoplight
C)  point-of-purchase
D)  value-based
E)  loss-leaderF) A) and C)
G) C) and E)

Question 3

Which of the following firms has made the wisest wholesaler choice for its product?

Accepted Answer

A)  Sam's Coal Country uses a drop shipper for its coal.
B)  Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs.
C)  Hannah's Hardware uses a rack jobber for its hinges.
D)  Shayna's Superior Supplies uses a desk jobber for its staplers.
E)  Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights.F) A) and C)
G) B) and D)

Question 4

General merchandise wholesalers

Accepted Answer

A)  carry a broad assortment of merchandise and perform all channel functions.
B)  own the merchandise they sell but do not physically handle,stock,or deliver it.
C)  have a small warehouse from which they stock their trucks for distribution to retailers.
D)  work for several producers,carry noncompetitive,complementary merchandise in an exclusive territory,and use over-the-road transportation for all product deliveries.
E)  deal exclusively with small low-cost consumer products that are distributed to a select number of large retail chains.F) B) and E)
G) A) and C)

Question 5

There are three general forms of retail ownership: independent retailer,corporate chain,and __________.

Accepted Answer

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

Question 6

Why are vending machine prices often higher than those in a retail store?

Accepted Answer

Vending machine maintenance,op...

Question 7

Albertson's Supermarket accepts debit and credit cards as well as cash and checks for purchases.Its acceptance of various forms of payment provides its customers with __________ utility.

Accepted Answer

A)  time
B)  place
C)  possession
D)  form
E)  publicF) C) and D)
G) B) and E)

Question 8

When developing retailing strategies,marketers use what is called the retailing mix,which includes

Accepted Answer

A)  products,services,promotions,and retail communication.
B)  promotions,publicity,and press releases.
C)  retail pricing,store location,retail communication,and merchandise.
D)  physical environment,people,process,and productivity.
E)  direct mail,online stores,traditional stores,and outlet stores.F) A) and B)
G) A) and C)

Question 9

Identify and describe the functions of agents and brokers.

Accepted Answer

Agents and brokers do not take title to ...

Question 10

By selling franchises,an organization __________ the cost of expansion and __________ its control compared to owning its own retail outlets.

Accepted Answer

A)  increases; increases
B)  increases; reduces
C)  reduces; increases
D)  increases; retains almost all
E)  reduces; reducesF) A) and D)
G) C) and D)

Question 11

Intermediaries that represent a single producer and are responsible for designing promotional plans,setting prices,determining distribution policies,and making recommendations on product strategy are referred to as __________.

Accepted Answer

A)  brokers
B)  line brokers
C)  distribution brokers
D)  selling agents
E)  manufacturer's agentsF) A) and E)
G) A) and D)

Question 12

A regional bakery makes organic breads and muffins.It feels the choice of distribution channel is critical to the product's success,especially since it wants to have the product distributed nationally.However,it will take some time before sales take off,and the bakery wants to make sure the marketing program is consistent everywhere.It should use

Accepted Answer

A)  a manufacturer's agent to sell to truck jobbers who in turn will deal with retailers.
B)  its own salesforce to sell directly to retailers.
C)  the services of a selling agent to sell to general merchandise wholesalers who will sell to retailers.
D)  a dual distribution system composed of both direct and indirect wholesalers.
E)  a rack jobber who will sell to a merchant wholesaler and who will in turn sell to retailers.F) B) and D)
G) C) and D)

Question 13

Price ranges,store layouts,and breadth and depth of merchandise lines are considered to be __________ of a store's image.

Accepted Answer

A)  functional qualities
B)  sociological qualities
C)  psychological attributes
D)  lifestyle attributes
E)  atmospheric elementsF) None of the above
G) A) and E)

Question 14

McDonald's,Radio Shack,and Subway are examples of __________.

Accepted Answer

A)  product-distribution franchises
B)  business franchise venture
C)  business-format franchises
D)  manufacturing franchises
E)  general service franchiseF) A) and E)
G) B) and D)

Question 15

The term truck jobbers refers to wholesalers who

Accepted Answer

A)  furnish the racks or shelves that display merchandise in retail stores,perform all channel functions,and sell on consignment to retailers.
B)  store all the merchandise they sell in their trucks.
C)  own the merchandise they sell but do not physically handle,stock,or deliver it.
D)  have a small warehouse from which they stock their trucks for distribution to retailers.
E)  work for several producers,carry noncompetitive,complementary merchandise in an exclusive territory,and use over-the-road transportation for all product deliveries.F) A) and D)
G) All of the above

Question 16

Explain the difference between a markup,an original markup,and a maintained markup.

Accepted Answer

In setting prices for merchandise,retail...

Question 17

Often new models or styles force the price of existing models to be __________.

Accepted Answer

A)  marked up
B)  off-priced
C)  value-subtracted
D)  maintained
E)  marked downF) B) and E)
G) All of the above

Question 18

The wholesalers that perform all channel functions and are found in the health foods,automotive parts,and seafood industries would be __________.

Accepted Answer

A)  specialty wholesalers
B)  full-line wholesalers
C)  limited-wholesalers
D)  universal wholesalers
E)  cash and carry wholesalersF) B) and E)
G) A) and D)

Question 19

Accelerated development in the retail life cycle is similar to which stage in the product life cycle?

Accepted Answer

A)  introduction
B)  maturity
C)  decline
D)  growth
E)  harvestF) A) and B)
G) B) and E)

Question 20

A unique broker that acts in many ways like a manufacturer's agent is a food broker,representing buyers and sellers in the grocery industry.Food brokers differ from conventional brokers because they act on behalf of producers on a permanent basis and

Accepted Answer

A)  receive a commission for their services.
B)  are paid a flat fee for each time the shelves are stocked.
C)  are paid by both the buyer and seller separately depending upon the size of the order.
D)  are paid a commission by the buyer and a bonus by the seller.
E)  are paid a flat fee by both the buyer and seller,but receive a bonus based upon the percentage of increased sales by quarter.F) A) and E)
G) B) and D)

Exam 13: Retailing and Wholesaling

Why are vending machine prices often higher than those in a retail store?

Correct Answer
verified
Vending machine maintenance,op...
View Answer

Accelerated development in the retail life cycle is similar to which stage in the product life cycle?

Correct Answer
verified

A unique broker that acts in many ways like a manufacturer's agent is a food broker,representing buyers and sellers in the grocery industry.Food brokers differ from conventional brokers because they act on behalf of producers on a permanent basis and

Correct Answer
verified

When developing retailing strategies,marketers use what is called the retailing mix,which includes

Correct Answer
verified

Correct Answer
verified

Albertson's Supermarket accepts debit and credit cards as well as cash and checks for purchases.Its acceptance of various forms of payment provides its customers with __________ utility.

Correct Answer
verified

General merchandise wholesalers

Correct Answer
verified

Direct-mail and catalog retailing are examples of __________.

Correct Answer
verified

The wholesalers that perform all channel functions and are found in the health foods,automotive parts,and seafood industries would be __________.

Correct Answer
verified

Consumers often use the prices of __________ items,such as a can of Coke,to form an overall impression of the store's prices.

Correct Answer
verified

McDonald's,Radio Shack,and Subway are examples of __________.

Correct Answer
verified

Identify and describe the functions of agents and brokers.

Correct Answer
verified
Agents and brokers do not take title to ...
View Answer

The term truck jobbers refers to wholesalers who

Correct Answer
verified

Price ranges,store layouts,and breadth and depth of merchandise lines are considered to be __________ of a store's image.

Correct Answer
verified

Often new models or styles force the price of existing models to be __________.

Correct Answer
verified

Explain the difference between a markup,an original markup,and a maintained markup.

Correct Answer
verified
In setting prices for merchandise,retail...
View Answer

There are three general forms of retail ownership: independent retailer,corporate chain,and __________.

Correct Answer
verified

Intermediaries that represent a single producer and are responsible for designing promotional plans,setting prices,determining distribution policies,and making recommendations on product strategy are referred to as __________.

Correct Answer
verified

Which of the following firms has made the wisest wholesaler choice for its product?

Correct Answer
verified

By selling franchises,an organization the cost of expansion and its control compared to owning its own retail outlets.

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Why are vending machine prices often higher than those in a retail store?

Correct AnswerverifiedVending machine maintenance,op...View AnswerShow Answer

Accelerated development in the retail life cycle is similar to which stage in the product life cycle?

Correct AnswerverifiedShow Answer

A unique broker that acts in many ways like a manufacturer's agent is a food broker,representing buyers and sellers in the grocery industry.Food brokers differ from conventional brokers because they act on behalf of producers on a permanent basis and

Correct AnswerverifiedShow Answer

When developing retailing strategies,marketers use what is called the retailing mix,which includes

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Albertson's Supermarket accepts debit and credit cards as well as cash and checks for purchases.Its acceptance of various forms of payment provides its customers with __________ utility.

Correct AnswerverifiedShow Answer

General merchandise wholesalers

Correct AnswerverifiedShow Answer

Direct-mail and catalog retailing are examples of __________.

Correct AnswerverifiedShow Answer

The wholesalers that perform all channel functions and are found in the health foods,automotive parts,and seafood industries would be __________.

Correct AnswerverifiedShow Answer

Consumers often use the prices of __________ items,such as a can of Coke,to form an overall impression of the store's prices.

Correct AnswerverifiedShow Answer

McDonald's,Radio Shack,and Subway are examples of __________.

Correct AnswerverifiedShow Answer

Identify and describe the functions of agents and brokers.

Correct AnswerverifiedAgents and brokers do not take title to ...View AnswerShow Answer

The term truck jobbers refers to wholesalers who

Correct AnswerverifiedShow Answer

Price ranges,store layouts,and breadth and depth of merchandise lines are considered to be __________ of a store's image.

Correct AnswerverifiedShow Answer

Often new models or styles force the price of existing models to be __________.

Correct AnswerverifiedShow Answer

Explain the difference between a markup,an original markup,and a maintained markup.

Correct AnswerverifiedIn setting prices for merchandise,retail...View AnswerShow Answer

There are three general forms of retail ownership: independent retailer,corporate chain,and __________.

Correct AnswerverifiedShow Answer

Intermediaries that represent a single producer and are responsible for designing promotional plans,setting prices,determining distribution policies,and making recommendations on product strategy are referred to as __________.

Correct AnswerverifiedShow Answer

Which of the following firms has made the wisest wholesaler choice for its product?

Correct AnswerverifiedShow Answer

By selling franchises,an organization __________ the cost of expansion and __________ its control compared to owning its own retail outlets.

Correct AnswerverifiedShow Answer

Correct Answer
verified
Vending machine maintenance,op...
View 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
Agents and brokers do not take title to ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
In setting prices for merchandise,retail...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

By selling franchises,an organization the cost of expansion and its control compared to owning its own retail outlets.

Correct Answer
verified