Question 1

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as __________.

Accepted Answer

A)  manufacturing
B)  retailing
C)  wholesaling
D)  facilitating
E)  logisticsF) A) and E)
G) B) and C)

Question 2

Regional shopping centers refer to a

Accepted Answer

A)  retail cluster in a downtown area.
B)  retail location that typically has one primary store and about 20 to 40 smaller outlets,and serves a population base of about 100,000.
C)  cluster of stores that serve people who are within a five- to ten-minute drive and serves a population base of under 30,000.
D)  group of 50 to 150 stores that typically attract customers who live or work within a 5- to 10-mile range,often containing two or three anchor stores.
E)  retail cluster of stores in uptown areas.F) B) and D)
G) C) and E)

Question 3

Briefly describe the three ways retail outlets can be classified.

Accepted Answer

Retail outlets can be classified in thre...

Question 4

Another name for a drop shipper is a __________.

Accepted Answer

A)  desk jobber
B)  drop runner
C)  transport vendor
D)  container transport vendor
E)  stock jobberF) A) and C)
G) C) and D)

Question 5

One way to assess the importance of retailing to the U.S.and global economies is to measure the

Accepted Answer

A)  price asked for any one item.
B)  cost of goods sold.
C)  net return on capital.
D)  annual sales of retailers.
E)  progress towards eliminating of global boundaries.F) B) and E)
G) A) and E)

Question 6

Mall of America has verbalized its __________ strategy with the slogan,"A place for fun!"

Accepted Answer

A)  retail mix
B)  wheel of retailing
C)  retail life cycle
D)  distribution
E)  positioningF) A) and B)
G) All of the above

Question 7

Merchant wholesalers are independently owned firms that __________ the merchandise they handle.

Accepted Answer

A)  take title to
B)  broker
C)  act as agents for
D)  break bulk and repackage
E)  do not deliverF) C) and D)
G) A) and C)

Question 8

Nordstrom stores typically have 50 percent more salespeople on the floor than others retailers with stores of similar sizes.Its salespeople are renowned for their professional and personalized attention to customers.Nordstrom would be considered a(n) __________.

Accepted Answer

A)  exclusive-service retailer
B)  limited-service retailer
C)  full-service retailer
D)  upscale-retailer
E)  limited-domain retailerF) A) and D)
G) B) and E)

Question 9

When developing marketing strategies,marketing managers use the elements of the marketing mix,which includes product,price,place,and promotion.In a similar fashion,when developing retailing strategies,marketers use what is called the retailing mix,which includes

Accepted Answer

A)  retail pricing,store location,retail communication,and merchandise.
B)  products,services,and ideas.
C)  physical distribution,promotions,and communications.
D)  physical distribution,products,and personal selling.
E)  products,price,shipping/handling,and personal selling.F) C) and D)
G) B) and E)

Question 10

Sales per square foot is calculated by dividing

Accepted Answer

A)  total sales by selling area in square feet.
B)  profit margin by selling area in square feet.
C)  gross profit by selling area in square feet.
D)  return on investment by selling area in square feet.
E)  net sales by selling area in square feet.F) A) and D)
G) B) and E)

Question 11

The _________ distinguishes retail outlets based on whether independent retailers,corporate chains,or contractual systems own the outlet.

Accepted Answer

A)  product involvement
B)  service level
C)  merchandise line
D)  product assortment
E)  form of ownershipF) C) and D)
G) A) and B)

Question 12

-Apple has approximately what amount of sales per square foot according to the UMD13: Sales per Square Foot Marketing Dashboard above?

Accepted Answer

A)  $300
B)  $600
C)  $900
D)  $3,500
E)  $5,400F) B) and C)
G) B) and D)

Question 13

Depth of product line refers to

Accepted Answer

A)  the percentage of goods stored as inventory.
B)  the variety of different product items a store carries
C)  variations in price and color on specific items in a store.
D)  the number of different product lines and items within a product line.
E)  the number of different product classes owned by a corporate chain.F) B) and E)
G) B) and D)

Question 14

By requiring its toy suppliers to trim one square-inch of packaging from its lines,Walmart reduced packaging by __________ tons.

Accepted Answer

A)  3,000
B)  3,500
C)  4,000
D)  4,500
E)  5,000F) A) and B)
G) C) and D)

Question 15

Another name for a manufacturer's agent is _________.

Accepted Answer

A)  manufacturer's desk jobber
B)  manufacturer's transport vendor
C)  manufacturer's representative
D)  manufacturer's transport vendor.
E)  manufacturer's jobberF) B) and C)
G) A) and B)

Question 16

Bakery items,dairy products,and meat that are sold for cash directly from trucks in their original packages are traditionally sold by which type of wholesaler?

Accepted Answer

A)  rack jobbers
B)  drop shippers
C)  cash and carry wholesalers
D)  truck jobbers
E)  general merchandise wholesalersF) C) and E)
G) D) and E)

Question 17

-Neiman Marcus has approximately what amount of sales per square foot according to the UMD13: Sales per Square Foot Marketing Dashboard above?

Accepted Answer

A)  $300
B)  $600
C)  $900
D)  $3,500
E)  $5,400F) None of the above
G) B) and D)

Question 18

Which of the following statements regarding retail pricing is most accurate?

Accepted Answer

A)  Consumers rarely base their perceptions of a store's prices on a price of a benchmark item in the store.
B)  Consumers are influenced more by a store's ambiance than its prices.
C)  Stores that offer rebates and take an excessive amount of time to process them may create negative consumer perceptions.
D)  New technology has almost made shoplifting a thing of the past.
E)  The only difference between everyday low pricing and everyday fair pricing is whether the store sells food or non-food items.F) C) and D)
G) A) and B)

Question 19

A Woman's Place is a retail store,created and staffed by women,that offers products and services relating to maternity needs.For expectant mothers,it offers advice and personal shopping services,help with hair and/or make-up problems,and free delivery.A Woman's Place is an example of a(n) __________ retailer.

Accepted Answer

A)  franchise
B)  self-service
C)  limited -service
D)  full-service
E)  upscaleF) A) and E)
G) B) and E)

Question 20

Intangibles,such as a sense of belonging,excitement,style,or warmth,are considered to be __________ of a store's image.

Accepted Answer

A)  functional qualities
B)  sociological qualities
C)  psychological attributes
D)  antecedent attributes
E)  personality elementsF) A) and B)
G) C) and D)

Exam 13: Retailing and Wholesaling

Bakery items,dairy products,and meat that are sold for cash directly from trucks in their original packages are traditionally sold by which type of wholesaler?

Correct Answer
verified

Correct Answer
verified

Another name for a manufacturer's agent is _________.

Correct Answer
verified

Another name for a drop shipper is a __________.

Correct Answer
verified

-Apple has approximately what amount of sales per square foot according to the UMD13: Sales per Square Foot Marketing Dashboard above?

Correct Answer
verified

Briefly describe the three ways retail outlets can be classified.

Correct Answer
verified
Retail outlets can be classified in thre...
View Answer

Intangibles,such as a sense of belonging,excitement,style,or warmth,are considered to be __________ of a store's image.

Correct Answer
verified

One way to assess the importance of retailing to the U.S.and global economies is to measure the

Correct Answer
verified

Depth of product line refers to

Correct Answer
verified

-Neiman Marcus has approximately what amount of sales per square foot according to the UMD13: Sales per Square Foot Marketing Dashboard above?

Correct Answer
verified

Sales per square foot is calculated by dividing

Correct Answer
verified

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as __________.

Correct Answer
verified

By requiring its toy suppliers to trim one square-inch of packaging from its lines,Walmart reduced packaging by __________ tons.

Correct Answer
verified

Which of the following statements regarding retail pricing is most accurate?

Correct Answer
verified

When developing marketing strategies,marketing managers use the elements of the marketing mix,which includes product,price,place,and promotion.In a similar fashion,when developing retailing strategies,marketers use what is called the retailing mix,which includes

Correct Answer
verified

Regional shopping centers refer to a

Correct Answer
verified

Mall of America has verbalized its __________ strategy with the slogan,"A place for fun!"

Correct Answer
verified

The _________ distinguishes retail outlets based on whether independent retailers,corporate chains,or contractual systems own the outlet.

Correct Answer
verified

Nordstrom stores typically have 50 percent more salespeople on the floor than others retailers with stores of similar sizes.Its salespeople are renowned for their professional and personalized attention to customers.Nordstrom would be considered a(n) __________.

Correct Answer
verified

Merchant wholesalers are independently owned firms that __________ the merchandise they handle.

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Bakery items,dairy products,and meat that are sold for cash directly from trucks in their original packages are traditionally sold by which type of wholesaler?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Another name for a manufacturer's agent is _________.

Correct AnswerverifiedShow Answer

Another name for a drop shipper is a __________.

Correct AnswerverifiedShow Answer

-Apple has approximately what amount of sales per square foot according to the UMD13: Sales per Square Foot Marketing Dashboard above?

Correct AnswerverifiedShow Answer

Briefly describe the three ways retail outlets can be classified.

Correct AnswerverifiedRetail outlets can be classified in thre...View AnswerShow Answer

Intangibles,such as a sense of belonging,excitement,style,or warmth,are considered to be __________ of a store's image.

Correct AnswerverifiedShow Answer

One way to assess the importance of retailing to the U.S.and global economies is to measure the

Correct AnswerverifiedShow Answer

Depth of product line refers to

Correct AnswerverifiedShow Answer

-Neiman Marcus has approximately what amount of sales per square foot according to the UMD13: Sales per Square Foot Marketing Dashboard above?

Correct AnswerverifiedShow Answer

Sales per square foot is calculated by dividing

Correct AnswerverifiedShow Answer

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as __________.

Correct AnswerverifiedShow Answer

By requiring its toy suppliers to trim one square-inch of packaging from its lines,Walmart reduced packaging by __________ tons.

Correct AnswerverifiedShow Answer

Which of the following statements regarding retail pricing is most accurate?

Correct AnswerverifiedShow Answer

When developing marketing strategies,marketing managers use the elements of the marketing mix,which includes product,price,place,and promotion.In a similar fashion,when developing retailing strategies,marketers use what is called the retailing mix,which includes

Correct AnswerverifiedShow Answer

Regional shopping centers refer to a

Correct AnswerverifiedShow Answer

Mall of America has verbalized its __________ strategy with the slogan,"A place for fun!"

Correct AnswerverifiedShow Answer

The _________ distinguishes retail outlets based on whether independent retailers,corporate chains,or contractual systems own the outlet.

Correct AnswerverifiedShow Answer

Nordstrom stores typically have 50 percent more salespeople on the floor than others retailers with stores of similar sizes.Its salespeople are renowned for their professional and personalized attention to customers.Nordstrom would be considered a(n) __________.

Correct AnswerverifiedShow Answer

Merchant wholesalers are independently owned firms that __________ the merchandise they handle.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Retail outlets can be classified in thre...
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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified