Question 1

Family Dollar, Dollar General, and the Dollar Tree are examples of which type of retailer?

Accepted Answer

A)   warehouse club
B)   hypermarket
C)   outlet store
D)   everyday value retailer
E)   extreme-value retailerF) A) and E)
G) A) and D)

Question 2

Victoria's Secret, a nationwide chain, carries great depth in women's lingerie and almost no other products. Victoria's Secret is an example of

Accepted Answer

A)   a limited-line store.
B)   a single-line store.
C)   an intertype outlet.
D)   a general merchandise store.
E)   a scrambled merchandise store.F) A) and B)
G) B) and D)

Question 3

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

Accepted Answer

Department stores started downtown in mo...

Question 4

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as

Accepted Answer

A)   a markup.
B)   a markdown.
C)   an original markup.
D)   a maintained markup.
E)   a cost-plus markup.F) A) and E)
G) All of the above

Question 5

Which of these retailers provide self-service to their customers?

Accepted Answer

A)   Zipcar
B)   Footlocker
C)   Target
D)   7-11
E)   AppleF) A) and B)
G) B) and E)

Question 6

To increase the demand for complementary products, the price of a product often is

Accepted Answer

A)   marked up.
B)   marked down.
C)   off-priced.
D)   value-subtracted.
E)   maintained.F) A) and B)
G) A) and C)

Question 7

Located predominately in Europe, stores called ________ are based on the concept of one-stop shopping for consumers. Such retail stores, which use scrambled merchandising, sometimes span over 200,000 square feet of floor space and offer quality, variety, and low price for food and groceries and general merchandise.

Accepted Answer

A)   megamarkets
B)   hypermarkets
C)   one-stop markets
D)   euromarkets
E)   supercentersF) C) and D)
G) B) and E)

Question 8

The ________ distinguishes types of retail outlets, with independent retailers, corporate chains, or contractual systems being the three general forms.

Accepted Answer

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

Question 9

The retailing mix refers to the activities related to managing a store, and includes

Accepted Answer

A)   retail pricing, store location, retail communication, and merchandise.
B)   product, price, promotion, and place.
C)   the utilities of time, form, possession, and price.
D)   the colors, sizes, shapes, and point-of-purchase display locations of the store's products.
E)   selection of store location, selection of merchandise, hiring and training of employees, and promotion of both the store and products.F) A) and B)
G) B) and D)

Question 10

The three commonly used terms to describe levels of service in retailing are

Accepted Answer

A)   self-service, limited-service, and full-service.
B)   retailer-service, sales-service, and customer-service.
C)   self-service, automated-service, and online-service.
D)   limited-service, full-service, and automated-service.
E)   wholesaler-service, retailer-service, and customer-service.F) All of the above
G) B) and E)

Question 11

Briefly describe the advantages of being an independent retailer and the benefits an independent retailer can offer customers.

Accepted Answer

Advantages to the retailer inc...

Question 12

One of the most common forms of retail ownership is the ________ owned by an individual.

Accepted Answer

A)   corporate chain
B)   consumer cooperative
C)   contractual system
D)   independent retailer
E)   administered systemsF) A) and B)
G) A) and C)

Question 13

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

Accepted Answer

A)   functional qualities
B)   sociological qualities
C)   psychological attributes
D)   lifestyle attributes
E)   atmospheric elementsF) C) and D)
G) A) and E)

Question 14

Mall of America has two ________ stores: Nordstrom and Macy's.

Accepted Answer

A)   strip mall
B)   local competitor
C)   broker
D)   retailing mix
E)   anchorF) A) and D)
G) A) and C)

Question 15

The selling of brand-name merchandise at lower than regular prices is referred to as

Accepted Answer

A)   discount pricing.
B)   everyday low pricing.
C)   markdown pricing.
D)   off-price retailing.
E)   loss-price leadership.F) None of the above
G) A) and C)

Question 16

Cash and carry wholesalers

Accepted Answer

A)   handle bulky items such as lumber, bricks, and telephone poles.
B)   handle perishable items such as 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) D) and E)
G) B) and E)

Question 17

The retail life cycle refers to

Accepted Answer

A)   the distinct stages a product goes through before it becomes obsolete.
B)   the process of growth and decline that retail outlets, like products, experience over time.
C)   the cycle of a customer's buying behavior from awareness of a product to its ultimate purchase.
D)   the relationship between the tangible aspects of a product and the types of services that need to accompany it.
E)   the traditional management changes that take place as a retail outlet grows.F) B) and E)
G) A) and E)

Question 18

________ retailers utilize and integrate a combination of traditional store formats and nonstore formats.

Accepted Answer

A)   Progressive
B)   Opportunistic
C)   Multichannel
D)   Cluster
E)   PowerF) C) and D)
G) B) and E)

Question 19

One method of classification categorizes a retailer as self-, limited-, or full-

Accepted Answer

A)   involvement.
B)   assortment.
C)   management.
D)   service.
E)   ownership.F) A) and B)
G) A) and C)

Question 20

Wholly owned extensions of the producer that perform wholesaling activities are referred to as

Accepted Answer

A)   general merchandise wholesalers.
B)   cash and carry wholesalers.
C)   agents and brokers.
D)   manufacturer's branch or sales offices.
E)   merchant wholesalers.F) A) and B)
G) B) and E)

Exam 16: Retailing and Wholesaling

________ retailers utilize and integrate a combination of traditional store formats and nonstore formats.

Correct Answer
verified

Wholly owned extensions of the producer that perform wholesaling activities are referred to as

Correct Answer
verified

One of the most common forms of retail ownership is the ________ owned by an individual.

Correct Answer
verified

List the five 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

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

Correct Answer
verified

Cash and carry wholesalers

Correct Answer
verified

The ________ distinguishes types of retail outlets, with independent retailers, corporate chains, or contractual systems being the three general forms.

Correct Answer
verified

The retailing mix refers to the activities related to managing a store, and includes

Correct Answer
verified

Correct Answer
verified

The three commonly used terms to describe levels of service in retailing are

Correct Answer
verified

Mall of America has two ________ stores: Nordstrom and Macy's.

Correct Answer
verified

One method of classification categorizes a retailer as self-, limited-, or full-

Correct Answer
verified

To increase the demand for complementary products, the price of a product often is

Correct Answer
verified

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as

Correct Answer
verified

The retail life cycle refers to

Correct Answer
verified

Which of these retailers provide self-service to their customers?

Correct Answer
verified

Family Dollar, Dollar General, and the Dollar Tree are examples of which type of retailer?

Correct Answer
verified

Victoria's Secret, a nationwide chain, carries great depth in women's lingerie and almost no other products. Victoria's Secret is an example of

Correct Answer
verified

Briefly describe the advantages of being an independent retailer and the benefits an independent retailer can offer customers.

Correct Answer
verified
Advantages to the retailer inc...
View Answer

The selling of brand-name merchandise at lower than regular prices is referred to as

Correct Answer
verified

Exam 16: Retailing and Wholesaling

________ retailers utilize and integrate a combination of traditional store formats and nonstore formats.

Correct AnswerverifiedShow Answer

Wholly owned extensions of the producer that perform wholesaling activities are referred to as

Correct AnswerverifiedShow Answer

One of the most common forms of retail ownership is the ________ owned by an individual.

Correct AnswerverifiedShow Answer

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

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

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

Correct AnswerverifiedShow Answer

Cash and carry wholesalers

Correct AnswerverifiedShow Answer

The ________ distinguishes types of retail outlets, with independent retailers, corporate chains, or contractual systems being the three general forms.

Correct AnswerverifiedShow Answer

The retailing mix refers to the activities related to managing a store, and includes

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The three commonly used terms to describe levels of service in retailing are

Correct AnswerverifiedShow Answer

Mall of America has two ________ stores: Nordstrom and Macy's.

Correct AnswerverifiedShow Answer

One method of classification categorizes a retailer as self-, limited-, or full-

Correct AnswerverifiedShow Answer

To increase the demand for complementary products, the price of a product often is

Correct AnswerverifiedShow Answer

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as

Correct AnswerverifiedShow Answer

The retail life cycle refers to

Correct AnswerverifiedShow Answer

Which of these retailers provide self-service to their customers?

Correct AnswerverifiedShow Answer

Family Dollar, Dollar General, and the Dollar Tree are examples of which type of retailer?

Correct AnswerverifiedShow Answer

Victoria's Secret, a nationwide chain, carries great depth in women's lingerie and almost no other products. Victoria's Secret is an example of

Correct AnswerverifiedShow Answer

Briefly describe the advantages of being an independent retailer and the benefits an independent retailer can offer customers.

Correct AnswerverifiedAdvantages to the retailer inc...View AnswerShow Answer

The selling of brand-name merchandise at lower than regular prices is referred to as

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified
Advantages to the retailer inc...
View Answer

Correct Answer
verified