Question 1

The retailing mix includes all of these except which?

Accepted Answer

A)   merchandise
B)   target market
C)   retail pricing
D)   store location
E)   retail communicationF) All of the above
G) B) and D)

Question 2

The major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers ________ and discount stores buy from wholesalers.

Accepted Answer

A)   that are trying to offload returned or slightly irregular inventory; selling new but inexpensive merchandise
B)   at below wholesale prices; and charge a high initial price with the full intent of taking markdowns later
C)   at below wholesale prices; at full price but take less of a markup
D)   at various price points; at the lowest price points possible
E)   that are part of a retailing cooperative; that are part of a wholesaling cooperativeF) C) and E)
G) A) and D)

Question 3

In initially competing with established burger chains, outlets such as Checkers Drive-In Restaurants typically enter the wheel of retailing with

Accepted Answer

A)   limited menus and limited service.
B)   extensive menus and expansive service.
C)   extensive menus and self-service.
D)   high prices and novel menu items.
E)   high prices and expansive service.F) A) and C)
G) A) and B)

Question 4

The complementary role of different communication and delivery channels is referred to as the ________ effect.

Accepted Answer

A)   cumulative
B)   primacy
C)   cross-over
D)   complementary
E)   influenceF) A) and D)
G) C) and E)

Question 5

Your local Hallmark retailer carries thousands of greeting cards. You can find cards for a twin birthday, graduation, from my cat to yours, and many other unique occasions. This is an example of the ________ that the Hallmark retailer carries.

Accepted Answer

A)   depth of product line
B)   breadth of product line
C)   height of product line
D)   length of product line
E)   width of product lineF) A) and E)
G) B) and E)

Question 6

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 B)
G) A) and D)

Question 7

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)   $26
B)   $86
C)   $78
D)   $34
E)   $112F) B) and C)
G) C) and D)

Question 8

A cluster of neighborhood stores, whose composition is typically unplanned and serves people who are within a 5- to 10-minute drive is referred to as a

Accepted Answer

A)   suburban shopping mall.
B)   strip mall.
C)   mini-mart.
D)   hypermarket.
E)   central business district.F) None of the above
G) A) and B)

Question 9

When developing retailing strategies, marketers develop a 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) B) and D)
G) A) and B)

Question 10

A manufacturer's branch office

Accepted Answer

A)   carries a producer's inventory and performs the functions of a full-service wholesaler.
B)   performs a sales function as an option to agents and brokers.
C)   works for several producers and carries noncompetitive, complementary merchandise in an exclusive territory.
D)   takes title to merchandise but sells only to buyers that call on them, pay cash for merchandise, and furnish their own transportation for the merchandise.
E)   brings buyers and sellers together to make sales.F) A) and D)
G) C) and D)

Question 11

Which of these is a type of full-service merchant wholesaler?

Accepted Answer

A)   cash and carry wholesaler
B)   rack jobbers
C)   truck jobbers
D)   specialty merchandise wholesaler
E)   drop shippersF) A) and E)
G) C) and D)

Question 12

The difference between the final selling price and the retailer's cost is referred to as the

Accepted Answer

A)   original markup.
B)   maintained markup.
C)   markdown.
D)   differential markup.
E)   discounted price.F) C) and D)
G) B) and E)

Question 13

Online retailing has evolved to include social shopping options like intermediaries (Groupon) , marketplaces (Storenvy) , and ________ (Clarkdeals) .

Accepted Answer

A)   swap meets
B)   aggregators
C)   flash sales
D)   showroomers
E)   arbitratorsF) B) and C)
G) D) and E)

Question 14

The sustainability and environmental responsibility trend has become so important that evaluates eight indicators of environmental performance to provide annual "green rankings" of large companies.

Accepted Answer

A)   the Environmental Protection Agency
B)   the U.S. Chamber of Commerce-Environmental Division
C)   Green Cross International
D)   Newsweek
E)   Leadership in Energy and Environmental Design (LEE
D)  F) None of the above
G) B) and C)

Question 15

The wholesalers most prevalent in the hardware, drug, and clothing industries are

Accepted Answer

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

Question 16

Selling on consignment to retailers, which means they retain the title to the products displayed and bill retailers only for the merchandise sold, is characteristic of which limited-service wholesaler?

Accepted Answer

A)   truck jobbers
B)   transport vendors
C)   rack jobbers
D)   cash and carry wholesalers
E)   drop shippersF) A) and E)
G) B) and D)

Question 17

Prices in vending machines tend to be higher because

Accepted Answer

A)   machines are placed in low-demand traffic areas.
B)   maintenance, operating, and leasing costs are high.
C)   only small unit volume items are sold.
D)   customary pricing requires certain coin and currency amounts regardless of the normal retailer markup.
E)   few people buy from vending machines.F) A) and E)
G) A) and D)

Question 18

Williams-Sonoma is a specialty store that caters to customers who like to cook at home. It offers free cooking classes, has frequent demonstrations by cookbook authors, and has employees who are knowledgeable about food preparation. The sales staff helps customers make their selections. Williams-Sonoma is ________ retailer.

Accepted Answer

A)   an exclusive-service
B)   a full-service
C)   an upscale-service
D)   a self-service
E)   a limited-serviceF) B) and E)
G) All of the above

Question 19

Merchants such as Burlington and T.J. Maxx sell brand-name merchandise at lower than regular prices using

Accepted Answer

A)   an off-price retailing strategy.
B)   a markdown pricing strategy.
C)   an everyday fair pricing strategy.
D)   an everyday low pricing strategy.
E)   a maintained markdown pricing strategy.F) B) and C)
G) A) and E)

Question 20

Boston Pizza wants to determine how effective its retail space is compared to other pizza establishments in the local area. The calculation for this indicator is arrived at by determining the ________ for its store and comparing it against the same indicator for all of the other local pizza outlets.

Accepted Answer

A)   same-store gross margin
B)   same-store sales growth
C)   sales per square foot
D)   net profit
E)   same-store net present valueF) B) and C)
G) A) and E)

Exam 16: Retailing and Wholesaling

The difference between the final selling price and the retailer's cost is referred to as the

Correct Answer
verified

Boston Pizza wants to determine how effective its retail space is compared to other pizza establishments in the local area. The calculation for this indicator is arrived at by determining the ________ for its store and comparing it against the same indicator for all of the other local pizza outlets.

Correct Answer
verified

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

Correct Answer
verified

Online retailing has evolved to include social shopping options like intermediaries (Groupon) , marketplaces (Storenvy) , and ________ (Clarkdeals) .

Correct Answer
verified

The retailing mix includes all of these except which?

Correct Answer
verified

The complementary role of different communication and delivery channels is referred to as the ________ effect.

Correct Answer
verified

The wholesalers most prevalent in the hardware, drug, and clothing industries are

Correct Answer
verified

Merchants such as Burlington and T.J. Maxx sell brand-name merchandise at lower than regular prices using

Correct Answer
verified

Selling on consignment to retailers, which means they retain the title to the products displayed and bill retailers only for the merchandise sold, is characteristic of which limited-service wholesaler?

Correct Answer
verified

Which of these is a type of full-service merchant wholesaler?

Correct Answer
verified

Your local Hallmark retailer carries thousands of greeting cards. You can find cards for a twin birthday, graduation, from my cat to yours, and many other unique occasions. This is an example of the ________ that the Hallmark retailer carries.

Correct Answer
verified

The major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers ________ and discount stores buy from wholesalers.

Correct Answer
verified

A manufacturer's branch office

Correct Answer
verified

A cluster of neighborhood stores, whose composition is typically unplanned and serves people who are within a 5- to 10-minute drive is referred to as a

Correct Answer
verified

When developing retailing strategies, marketers develop a retailing mix, which includes

Correct Answer
verified

In initially competing with established burger chains, outlets such as Checkers Drive-In Restaurants typically enter the wheel of retailing with

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

Correct Answer
verified

The sustainability and environmental responsibility trend has become so important that evaluates eight indicators of environmental performance to provide annual "green rankings" of large companies.

Correct Answer
verified

Prices in vending machines tend to be higher because

Correct Answer
verified

Exam 16: Retailing and Wholesaling

The difference between the final selling price and the retailer's cost is referred to as the

Correct AnswerverifiedShow Answer

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 retailing has evolved to include social shopping options like intermediaries (Groupon) , marketplaces (Storenvy) , and ________ (Clarkdeals) .

Correct AnswerverifiedShow Answer

The retailing mix includes all of these except which?

Correct AnswerverifiedShow Answer

The complementary role of different communication and delivery channels is referred to as the ________ effect.

Correct AnswerverifiedShow Answer

The wholesalers most prevalent in the hardware, drug, and clothing industries are

Correct AnswerverifiedShow Answer

Merchants such as Burlington and T.J. Maxx sell brand-name merchandise at lower than regular prices using

Correct AnswerverifiedShow Answer

Selling on consignment to retailers, which means they retain the title to the products displayed and bill retailers only for the merchandise sold, is characteristic of which limited-service wholesaler?

Correct AnswerverifiedShow Answer

Which of these is a type of full-service merchant wholesaler?

Correct AnswerverifiedShow Answer

Your local Hallmark retailer carries thousands of greeting cards. You can find cards for a twin birthday, graduation, from my cat to yours, and many other unique occasions. This is an example of the ________ that the Hallmark retailer carries.

Correct AnswerverifiedShow Answer

The major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers ________ and discount stores buy from wholesalers.

Correct AnswerverifiedShow Answer

A manufacturer's branch office

Correct AnswerverifiedShow Answer

A cluster of neighborhood stores, whose composition is typically unplanned and serves people who are within a 5- to 10-minute drive is referred to as a

Correct AnswerverifiedShow Answer

When developing retailing strategies, marketers develop a retailing mix, which includes

Correct AnswerverifiedShow Answer

In initially competing with established burger chains, outlets such as Checkers Drive-In Restaurants typically enter the wheel of retailing with

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

Correct AnswerverifiedShow Answer

The sustainability and environmental responsibility trend has become so important that evaluates eight indicators of environmental performance to provide annual "green rankings" of large companies.

Correct AnswerverifiedShow Answer

Prices in vending machines tend to be higher because

Correct AnswerverifiedShow Answer

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