Question 1

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) B) and E)
G) D) and E)

Question 2

Bloomingdale's stores are part of the Macy's

Accepted Answer

A)   corporate chain.
B)   consumer cooperative.
C)   contractual system.
D)   retail conglomerate.
E)   administered system.F) D) and E)
G) All of the above

Question 3

Explain why direct mail and catalogs are an attractive form of retailing.

Accepted Answer

Direct-mail and catalog retailing are "t...

Question 4

Which type of wholesaler traditionally sells hosiery, toys, and health and beauty items?

Accepted Answer

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

Question 5

Unlike merchant wholesalers, agents, and brokers, manufacturers' branches and sales offices are ________ that perform wholesaling activities.

Accepted Answer

A)   independent distribution managers
B)   independent intermediary channels
C)   wholly owned extensions of the producer
D)   wholly owned extensions of the distributor
E)   wholly owned extensions of the retailerF) None of the above
G) C) and E)

Question 6

Using the telephone to interact with and sell directly to consumers is referred to as

Accepted Answer

A)   digital marketing.
B)   telemarketing.
C)   solicitation marketing.
D)   telecommerce.
E)   direct selling.F) A) and E)
G) A) and D)

Question 7

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

Question 8

Explain the global impact of retailing.

Accepted Answer

Retailing is important to the U.S. and g...

Question 9

Some experts suggest that television shopping programs are becoming a modern version of ________ by combining elements of reality TV programs, talk shows, and infomercials.

Accepted Answer

A)   augmented reality
B)   door-to-door retailing
C)   telemarketing
D)   direct-response wholesaling
E)   indirect sellingF) A) and C)
G) A) and D)

Question 10

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

Accepted Answer

A)   net margin.
B)   maintained markup.
C)   markdown
D)   differential markup.
E)   original markup.F) A) and E)
G) D) and E)

Question 11

Aeon, Carrefour, Tesco, and Metro Group are

Accepted Answer

A)   sizable wholesalers that handle products for the world's largest retailers.
B)   new Internet start-ups that have the potential to impact the U.S. economy.
C)   large retailers outside of the United States.
D)   large distributors of business products.
E)   historic companies that developed consumer selling systems, though none of them exist today.F) A) and E)
G) A) and D)

Question 12

A regional shopping center refers 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 serves people who are within a 5- to 10-minute drive and serves a population base of under 30,000.
D)   group of 50 to 150 stores that typically attracts 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 C)
G) B) and D)

Question 13

Sales per square foot is calculated by dividing

Accepted Answer

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

Question 14

Wholesalers that carry a broad assortment of merchandise and perform all channel functions are referred to as a

Accepted Answer

A)   limited-line wholesaler.
B)   drop shipper.
C)   rack jobber.
D)   specialty merchandise wholesaler.
E)   general merchandise wholesaler.F) B) and C)
G) All of the above

Question 15

Timing is an important element of markdowns. Those retailers who take a markdown as soon as sales fall off most likely are doing so to

Accepted Answer

A)   placate dissatisfied customers.
B)   enhance customer perceptions of product quality.
C)   free up valuable selling space and cash.
D)   create an image as a cutting-edge retailer.
E)   react to the entry of a new competitor.F) B) and E)
G) B) and D)

Question 16

Discounting generally takes place during which stage of the retail life cycle?

Accepted Answer

A)   early growth
B)   accelerated development
C)   decline
D)   maturity
E)   early growth and maturityF) None of the above
G) A) and C)

Question 17

Large shopping areas often contain two or three ________ stores, which are well-known national or regional stores such as Nordstrom, Saks Fifth Avenue, and Bloomingdale's.

Accepted Answer

A)   power
B)   mega
C)   anchor
D)   value
E)   outletF) D) and E)
G) A) and B)

Question 18

The calculation for same-store sales growth is

Accepted Answer

A)   Total sales ÷ Selling area in square feet.
B)   (Store sales in year 3 ÷ Store sales in year 1) .
C)   Store sales in year 1 ÷ (Store sales in year 2 - Store sales in year 1) .
D)   (Store sales in year 2 - Store sales in year 1) . ÷ Store sales in year 1.
E)   Store 1 square feet ÷ Store 2 square feet.F) C) and E)
G) A) and D)

Question 19

An IKEA mail order catalog is an example of ________ retailing.

Accepted Answer

A)   intrusive
B)   intertype
C)   scrambled
D)   nonstore
E)   hypermarketF) A) and B)
G) D) and E)

Question 20

Similar to the West Edmonton Mall in Alberta, Canada, with shopping, restaurants, hotels, and a theme park, the Mall of America is a variation of

Accepted Answer

A)   a central business district.
B)   a regional shopping center.
C)   an entertainment district.
D)   a destination mall concept.
E)   an anchored mall.F) A) and B)
G) A) and C)

Exam 16: Retailing and Wholesaling

Bloomingdale's stores are part of the Macy's

Correct Answer
verified

Aeon, Carrefour, Tesco, and Metro Group are

Correct Answer
verified

The calculation for same-store sales growth is

Correct Answer
verified

A regional shopping center refers to a

Correct Answer
verified

Discounting generally takes place during which stage of the retail life cycle?

Correct Answer
verified

An IKEA mail order catalog is an example of ________ retailing.

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Large shopping areas often contain two or three ________ stores, which are well-known national or regional stores such as Nordstrom, Saks Fifth Avenue, and Bloomingdale's.

Correct Answer
verified

Unlike merchant wholesalers, agents, and brokers, manufacturers' branches and sales offices are ________ that perform wholesaling activities.

Correct Answer
verified

Wholesalers that carry a broad assortment of merchandise and perform all channel functions are referred to as a

Correct Answer
verified

Explain why direct mail and catalogs are an attractive form of retailing.

Correct Answer
verified
Direct-mail and catalog retailing are "t...
View Answer

Multichannel retailers are retailers that

Correct Answer
verified

Which type of wholesaler traditionally sells hosiery, toys, and health and beauty items?

Correct Answer
verified

Using the telephone to interact with and sell directly to consumers is referred to as

Correct Answer
verified

Sales per square foot is calculated by dividing

Correct Answer
verified

Explain the global impact of retailing.

Correct Answer
verified
Retailing is important to the U.S. and g...
View Answer

Similar to the West Edmonton Mall in Alberta, Canada, with shopping, restaurants, hotels, and a theme park, the Mall of America is a variation of

Correct Answer
verified

Some experts suggest that television shopping programs are becoming a modern version of ________ by combining elements of reality TV programs, talk shows, and infomercials.

Correct Answer
verified

Timing is an important element of markdowns. Those retailers who take a markdown as soon as sales fall off most likely are doing so to

Correct Answer
verified

Exam 16: Retailing and Wholesaling

Bloomingdale's stores are part of the Macy's

Correct AnswerverifiedShow Answer

Aeon, Carrefour, Tesco, and Metro Group are

Correct AnswerverifiedShow Answer

The calculation for same-store sales growth is

Correct AnswerverifiedShow Answer

A regional shopping center refers to a

Correct AnswerverifiedShow Answer

Discounting generally takes place during which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

An IKEA mail order catalog is an example of ________ retailing.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Large shopping areas often contain two or three ________ stores, which are well-known national or regional stores such as Nordstrom, Saks Fifth Avenue, and Bloomingdale's.

Correct AnswerverifiedShow Answer

Unlike merchant wholesalers, agents, and brokers, manufacturers' branches and sales offices are ________ that perform wholesaling activities.

Correct AnswerverifiedShow Answer

Wholesalers that carry a broad assortment of merchandise and perform all channel functions are referred to as a

Correct AnswerverifiedShow Answer

Explain why direct mail and catalogs are an attractive form of retailing.

Correct AnswerverifiedDirect-mail and catalog retailing are "t...View AnswerShow Answer

Multichannel retailers are retailers that

Correct AnswerverifiedShow Answer

Which type of wholesaler traditionally sells hosiery, toys, and health and beauty items?

Correct AnswerverifiedShow Answer

Using the telephone to interact with and sell directly to consumers is referred to as

Correct AnswerverifiedShow Answer

Sales per square foot is calculated by dividing

Correct AnswerverifiedShow Answer

Explain the global impact of retailing.

Correct AnswerverifiedRetailing is important to the U.S. and g...View AnswerShow Answer

Similar to the West Edmonton Mall in Alberta, Canada, with shopping, restaurants, hotels, and a theme park, the Mall of America is a variation of

Correct AnswerverifiedShow Answer

Some experts suggest that television shopping programs are becoming a modern version of ________ by combining elements of reality TV programs, talk shows, and infomercials.

Correct AnswerverifiedShow Answer

Timing is an important element of markdowns. Those retailers who take a markdown as soon as sales fall off most likely are doing so to

Correct AnswerverifiedShow 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
Direct-mail and catalog retailing are "t...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Retailing is important to the U.S. and g...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified