Question 1

Experts suggest that online retailers should think of their websites as __________ if they are to attract and retain customers.

Accepted Answer

A)  cash cows
B)  dynamic billboards
C)  virtual reality stores
D)  traditional retail stores
E)  online entertainmentF) A) and E)
G) C) and E)

Question 2

A common financial indicator of how effectively retail space is used to generate revenue can be calculated by determining __________.

Accepted Answer

A)  net sales
B)  shareholders' equity
C)  market share
D)  sales per square foot
E)  return on investmentF) B) and E)
G) A) and B)

Question 3

A limited-service wholesaler that furnishes shelves that display merchandise in stores,performs all channel functions,and sells on consignment to retailers is referred to as a __________.

Accepted Answer

A)  stack loader
B)  rack jobber
C)  drop shipper
D)  desk jobber
E)  truck jobberF) A) and B)
G) A) and C)

Question 4

Wholesalers who own the merchandise they sell but do not physically handle,stock,or deliver it are referred to as __________.

Accepted Answer

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

Question 5

A markup refers to

Accepted Answer

A)  the difference between the final selling price and how the customer values the product.
B)  selling brand name merchandise at lower than regular prices.
C)  the amount added to the cost the retailer paid for a product to reach the final selling price.
D)  the difference between the retail cost and initial selling price.
E)  the reduction in retail price,usually expressed as a percentage equal to the amount reduced,divided by the original price,and multiplied by 100.F) C) and E)
G) C) and D)

Question 6

Which form of retailing is Best Buy now using in airports to distribute its mobile phone and computer accessories,digital cameras,flash drives,and other consumer electronics?

Accepted Answer

A)  vending machines
B)  salespeople with mobile carts
C)  mall-scale traditional retail stores
D)  salespeople wearing Best Buy uniforms with products in backpacks
E)  free-standing kiosks staffed with knowledgeable sales personnelF) B) and C)
G) C) and D)

Question 7

Markdowns can be used to

Accepted Answer

A)  increase competition with other retailers in the immediate vicinity.
B)  placate dissatisfied customers.
C)  enhance customer perceptions of product quality.
D)  increase demand for complementary products.
E)  create a sense of urgency amongst repeat buyers.F) A) and E)
G) B) and C)

Question 8

Subway is a popular __________.

Accepted Answer

A)  business-format franchise
B)  product-distribution franchise
C)  operations franchise venture
D)  manufacturing franchise
E)  general service franchiseF) All of the above
G) B) and D)

Question 9

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) B) and E)
G) A) and B)

Question 10

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 D)
G) A) and E)

Question 11

Briefly describe the two general types of franchises.

Accepted Answer

Franchises can be classified in two gene...

Question 12

A method of classification that describes how many different types of products a store carries and in what assortment is referred to as a __________.

Accepted Answer

A)  product mix
B)  service level
C)  product variety
D)  store composition
E)  merchandise lineF) D) and E)
G) A) and D)

Question 13

Multichannel retailers are retailers that

Accepted Answer

A)  sell different products through entirely different channels.
B)  sell through different channels under different brand names.
C)  utilize strategic and tactical wholesalers.
D)  utilize and integrate a combination of traditional store formats and nonstore formats.
E)  combine two channels for their offerings: one for products and the other for services.F) C) and D)
G) A) and D)

Question 14

The term "bricks and clicks" refers to __________ and __________ respectively.

Accepted Answer

A)  catalogs; websites
B)  search engines; websites
C)  traditional retailers; online retailers
D)  buildings; shoppers
E)  computer savvy buyers; computer novice buyersF) B) and C)
G) A) and B)

Question 15

Online retail purchases by consumers can be the result of several very different approaches,which include: (1) using a shopping "bot" to search for a product at the best price; (2) participating in an online auction; (3) going directly to online malls; and (4)

Accepted Answer

A)  paying dues to become a member of an online discount service.
B)  becoming a secret shopper.
C)  participating in a buying cooperative.
D)  using direct selling.
E)  becoming a member of a research group that evaluates new products.F) A) and C)
G) All of the above

Question 16

Foursquare,Gowalla,Booyah,Brightkite,and Loopt are

Accepted Answer

A)  multiplayer video games.
B)  advertising agencies.
C)  location-based social networking apps for smartphones.
D)  names of new phones targeted at college students.
E)  restaurants with new food concepts.F) None of the above
G) A) and B)

Question 17

An indicator of how effectively retail space is used to generate revenue is called __________.

Accepted Answer

A)  sales per square foot
B)  return in investment
C)  percentage of markup
D)  gross profit
E)  same-store sales growthF) A) and E)
G) C) and E)

Question 18

The variety of different items a store carries is referred to as the

Accepted Answer

A)  retailing mix.
B)  depth of product line.
C)  breadth of product line.
D)  width of product line.
E)  length of product line.F) C) and D)
G) C) and E)

Question 19

The difference between the retailer's cost and the initial selling price is referred to as __________.

Accepted Answer

A)  markup
B)  maintained markup
C)  markdown
D)  differential markup
E)  original markupF) A) and D)
G) B) and E)

Question 20

All of the following are reasons why direct mail and catalog retailing are attractive EXCEPT:

Accepted Answer

A)  they create customer value by providing a fast and convenient means of making a purchase.
B)  they serve as a tool to encourage consumers to visit a website,a social media page,or even a store.
C)  paper costs and postal rates have declined,making them less expensive to send.
D)  they can eliminate the cost of a store and clerks.
E)  they improve marketing efficiency through segmentation and targeting.F) None of the above
G) C) and D)

Exam 13: Retailing and Wholesaling

A common financial indicator of how effectively retail space is used to generate revenue can be calculated by determining __________.

Correct AnswerverifiedShow Answer

Subway is a popular __________.

Correct AnswerverifiedShow Answer

A method of classification that describes how many different types of products a store carries and in what assortment is referred to as a __________.

Correct AnswerverifiedShow Answer

A markup refers to

Correct AnswerverifiedShow Answer

Briefly describe the two general types of franchises.

Correct AnswerverifiedFranchises can be classified in two gene...View AnswerShow Answer

The term "bricks and clicks" refers to __________ and __________ respectively.

Correct AnswerverifiedShow Answer

A limited-service wholesaler that furnishes shelves that display merchandise in stores,performs all channel functions,and sells on consignment to retailers is referred to as a __________.

Correct AnswerverifiedShow Answer

Multichannel retailers are retailers that

Correct AnswerverifiedShow Answer

Markdowns can be used to

Correct AnswerverifiedShow Answer

The variety of different items a store carries is referred to as the

Correct AnswerverifiedShow Answer

All of the following are reasons why direct mail and catalog retailing are attractive EXCEPT:

Correct AnswerverifiedShow Answer

All of the following are forms of nonstore retailing EXCEPT:

Correct AnswerverifiedShow Answer

An indicator of how effectively retail space is used to generate revenue is called __________.

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

Foursquare,Gowalla,Booyah,Brightkite,and Loopt are

Correct AnswerverifiedShow Answer

The difference between the retailer's cost and the initial selling price is referred to as __________.

Correct AnswerverifiedShow Answer

Wholesalers who own the merchandise they sell but do not physically handle,stock,or deliver it are referred to as __________.

Correct AnswerverifiedShow Answer

Experts suggest that online retailers should think of their websites as __________ if they are to attract and retain customers.

Correct AnswerverifiedShow Answer

Online retail purchases by consumers can be the result of several very different approaches,which include: (1) using a shopping "bot" to search for a product at the best price; (2) participating in an online auction; (3) going directly to online malls; and (4)

Correct AnswerverifiedShow Answer

Which form of retailing is Best Buy now using in airports to distribute its mobile phone and computer accessories,digital cameras,flash drives,and other consumer electronics?

Correct AnswerverifiedShow Answer

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Franchises can be classified in two gene...
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The term "bricks and clicks" refers to and respectively.

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