Question 1

Which of the following statements describes the key difference between merchant wholesalers and agents and brokers?

Accepted Answer

A)  Merchant wholesalers don't perform all channel functions and agents and brokers do.
B)  Agents and brokers only deal with consumer channels.
C)  Agents and brokers make their profits based on the sales of merchandise they own,while merchant wholesalers make profits based on fees paid for their services.
D)  Merchant wholesalers take title to merchandise and agents and brokers do not.
E)  Agents and brokers take title to merchandise and merchant wholesalers do not.F) All of the above
G) None of the above

Question 2

The 5.4 million vending machines currently operating in the United States generate more than __________ in annual sales.

Accepted Answer

A)  $359 million
B)  $985 million
C)  $3.8 billion
D)  $19 billion
E)  $46 billionF) B) and C)
G) All of the above

Question 3

A 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 is referred to as a(n) __________.

Accepted Answer

A)  power center
B)  regional shopping center
C)  strip mall
D)  central business district
E)  urban megacenterF) A) and E)
G) A) and B)

Question 4

The degree of service provided to the customer from self-,limited-,and full-service retailers is referred to as __________.

Accepted Answer

A)  involvement
B)  level of service
C)  service commitment
D)  customer obligation
E)  degree of commitmentF) B) and E)
G) C) and D)

Question 5

Online retail purchases by consumers can be the result of several very different approaches,which include: (1) paying dues to become a member of an online discount service; (2) participating in an online auction; (3) going directly to online malls; and (4)

Accepted Answer

A)  becoming a secret shopper.
B)  participating in a buying cooperative.
C)  using direct selling.
D)  using a shopping "bot" to search for a product at the best price.
E)  becoming a member of a research group that evaluates new products.F) A) and E)
G) A) and D)

Question 6

th photo above.This retailer is an example of a(n) __________. A) hypermarket B) markdown store C) outlet store D) category killer E) warehouse club" class="answers-bank-image d-inline" rel="preload" >
-Consider the Saks Fifth Avenue Off 5th photo above.This retailer is an example of a(n) __________.

Accepted Answer

A)  hypermarket
B)  markdown store
C)  outlet store
D)  category killer
E)  warehouse clubF) C) and E)
G) A) and B)

Question 7

In the late 1950s,Pierre Martineau described __________ as "the way in which the store is defined in the shopper's mind."

Accepted Answer

A)  size
B)  location
C)  product mix
D)  image
E)  anchor storeF) C) and E)
G) B) and D)

Question 8

List the four store locations or settings.How has the location of stores changed over the years?

Accepted Answer

Department stores started downtown in mo...

Question 9

Your local Target retailer carries a variety of different items.You can find everything ranging from socks and DVDs to baby items and groceries.This is an example of the __________ carried by Target.

Accepted Answer

A)  breadth of product line
B)  depth of product line
C)  variety of brand extension
D)  breadth of product class
E)  product mixF) B) and D)
G) B) and C)

Question 10

A retailer bought a collectible Precious Moments figurine for $26.She sets the initial selling price at $60.The final selling price was $52.What was the original markup?

Accepted Answer

A)  $0
B)  $16
C)  $26
D)  $34
E)  $86F) A) and D)
G) A) and C)

Question 11

-Consider the T.J.Maxx HomeGoods photo above.This retailer uses a(n) __________ pricing practice.

Accepted Answer

A)  markdown
B)  maintained markup
C)  gross margin
D)  manufactured suggested retail
E)  off-price retailF) C) and D)
G) B) and D)

Question 12

Enterprise car rental agency differentiates itself from other similar agencies by providing a delivery service.This delivery service is particularly valuable to someone who has been left stranded without transportation.By making it easy to rent temporary transportation,Enterprise is emphasizing which utility?

Accepted Answer

A)  form
B)  product
C)  service
D)  possession
E)  convenienceF) D) and E)
G) C) and D)

Question 13

Staples is a specialty discount retailer that focuses on one type of product-office supplies.Staples is referred to as a

Accepted Answer

A)  hypermarket.
B)  superstore.
C)  category killer.
D)  department store.
E)  general merchandise store.F) D) and E)
G) A) and E)

Question 14

Why do retailers like location-based apps such as Foursquare?

Accepted Answer

A)  they use audio and video to communicate a message
B)  all consumers demand technology-based offerings today
C)  they are free
D)  they attract consumers who are not price sensitive
E)  they provide an opportunity to personalize offerings to potential customersF) A) and D)
G) C) and D)

Question 15

QVC is a television home shopping network.It generates sales of more than $8 billion from its 70 million customers by

Accepted Answer

A)  restricting purchases only through its Mall of America studio.
B)  broadcasting live twelve hours a day 365 days a year.
C)  offering more than 1,150 products each week.
D)  offering overstocked items from retailers at a fraction of the original cost.
E)  running live podcasts and live streaming over the InternetF) A) and B)
G) A) and C)

Question 16

A wholesaler that carries a narrow range of products and performs all channel functions is referred to as a __________.

Accepted Answer

A)  general merchandise wholesaler
B)  truck jobber
C)  specialty merchandise wholesaler
D)  rack jobber
E)  drop shipperF) A) and B)
G) B) and E)

Question 17

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) D) and E)
G) A) and D)

Question 18

Cash and carry wholesalers

Accepted Answer

A)  handle bulky items like lumber,bricks,and telephone poles.
B)  handle perishable items like flowers,baked goods,and deli meats.
C)  handle office supplies,electrical supplies,hardware products,and groceries.
D)  are a kind of full-service wholesaler.
E)  lease vending machines to merchants and refill them as needed on a cash only basis.F) A) and E)
G) C) and D)

Question 19

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 E)

Question 20

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

Accepted Answer

A)  becoming a member of a research group that evaluates new products.
B)  becoming a secret shopper.
C)  participating in an online auction.
D)  participating in a buying cooperative.
E)  using direct selling.F) A) and E)
G) B) and E)

Exam 13: Retailing and Wholesaling

Online retail purchases by consumers can be the result of several very different approaches,which include: (1) paying dues to become a member of an online discount service; (2) participating in an online auction; (3) going directly to online malls; and (4)

Correct Answer
verified

A retailer bought a collectible Precious Moments figurine for $26.She sets the initial selling price at $60.The final selling price was $52.What was the original markup?

Correct Answer
verified

-Consider the T.J.Maxx HomeGoods photo above.This retailer uses a(n) __________ pricing practice.

Correct Answer
verified

A 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 is referred to as a(n) __________.

Correct Answer
verified

Your local Target retailer carries a variety of different items.You can find everything ranging from socks and DVDs to baby items and groceries.This is an example of the __________ carried by Target.

Correct Answer
verified

Staples is a specialty discount retailer that focuses on one type of product-office supplies.Staples is referred to as a

Correct Answer
verified

-Consider the Saks Fifth Avenue Off 5^th photo above.This retailer is an example of a(n) __________.

Correct Answer
verified

Cash and carry wholesalers

Correct Answer
verified

QVC is a television home shopping network.It generates sales of more than $8 billion from its 70 million customers by

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

Which of the following statements describes the key difference between merchant wholesalers and agents and brokers?

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

List the four store locations or settings.How has the location of stores changed over the years?

Correct Answer
verified
Department stores started downtown in mo...
View Answer

A wholesaler that carries a narrow range of products and performs all channel functions is referred to as a __________.

Correct Answer
verified

The 5.4 million vending machines currently operating in the United States generate more than __________ in annual sales.

Correct Answer
verified

Why do retailers like location-based apps such as Foursquare?

Correct Answer
verified

In the late 1950s,Pierre Martineau described __________ as "the way in which the store is defined in the shopper's mind."

Correct Answer
verified

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

Correct Answer
verified

The degree of service provided to the customer from self-,limited-,and full-service retailers is referred to as __________.

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Online retail purchases by consumers can be the result of several very different approaches,which include: (1) paying dues to become a member of an online discount service; (2) participating in an online auction; (3) going directly to online malls; and (4)

Correct AnswerverifiedShow Answer

A retailer bought a collectible Precious Moments figurine for $26.She sets the initial selling price at $60.The final selling price was $52.What was the original markup?

Correct AnswerverifiedShow Answer

-Consider the T.J.Maxx HomeGoods photo above.This retailer uses a(n) __________ pricing practice.

Correct AnswerverifiedShow Answer

A 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 is referred to as a(n) __________.

Correct AnswerverifiedShow Answer

Your local Target retailer carries a variety of different items.You can find everything ranging from socks and DVDs to baby items and groceries.This is an example of the __________ carried by Target.

Correct AnswerverifiedShow Answer

Staples is a specialty discount retailer that focuses on one type of product-office supplies.Staples is referred to as a

Correct AnswerverifiedShow Answer

-Consider the Saks Fifth Avenue Off 5th photo above.This retailer is an example of a(n) __________.

Correct AnswerverifiedShow Answer

Cash and carry wholesalers

Correct AnswerverifiedShow Answer

QVC is a television home shopping network.It generates sales of more than $8 billion from its 70 million customers by

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

Which of the following statements describes the key difference between merchant wholesalers and agents and brokers?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

List the four store locations or settings.How has the location of stores changed over the years?

Correct AnswerverifiedDepartment stores started downtown in mo...View AnswerShow Answer

A wholesaler that carries a narrow range of products and performs all channel functions is referred to as a __________.

Correct AnswerverifiedShow Answer

The 5.4 million vending machines currently operating in the United States generate more than __________ in annual sales.

Correct AnswerverifiedShow Answer

Why do retailers like location-based apps such as Foursquare?

Correct AnswerverifiedShow Answer

In the late 1950s,Pierre Martineau described __________ as "the way in which the store is defined in the shopper's mind."

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The degree of service provided to the customer from self-,limited-,and full-service retailers is referred to as __________.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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-Consider the Saks Fifth Avenue Off 5^th photo above.This retailer is an example of a(n) __________.

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
Department stores started downtown in mo...
View Answer

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Correct Answer
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