Question 1

Online retail purchases by consumers can be the result of several very different approaches, including patronizing online malls, visiting a website that offers "flash sales," and

Accepted Answer

A)   becoming a secret shopper.
B)   participating in a buying cooperative.
C)   using direct selling.
D)   participating in an online auction.
E)   shopping via vending machine.F) All of the above
G) C) and E)

Question 2

Walmart and The Home Depot emphasize consistently low prices and eliminate most markdowns with a retail pricing strategy called

Accepted Answer

A)   low-margin pricing.
B)   value-based pricing.
C)   everyday low pricing.
D)   everyday fair pricing.
E)   markdown pricing.F) A) and C)
G) All of the above

Question 3

The three key methods of classifying retail operations are

Accepted Answer

A)   method of operation, revenues generated, and merchandise line.
B)   form of ownership, method of operation, and merchandise line.
C)   form of ownership, level of service, and merchandise line.
D)   level of service, merchandise line, and revenues generated.
E)   merchandise line, form of ownership, and revenues generated.F) None of the above
G) All of the above

Question 4

Stores that carry a broad product line, with limited depth, are referred to as

Accepted Answer

A)   limited-line stores.
B)   general merchandise stores.
C)   scrambled merchandise stores.
D)   hypermarkets.
E)   intertype outlets.F) B) and D)
G) B) and E)

Question 5

What is category management and when is it used?

Accepted Answer

Category management is used to manage th...

Question 6

The variety of different items a store carries is referred to as the

Accepted Answer

A)   retailing mix.
B)   depth of product line.
C)   breadth of product line.
D)   width of product line.
E)   length of product line.F) A) and E)
G) D) and E)

Question 7

Target recently introduced its Target REDcard, where cardholders receive 5 percent back for each purchase. Target also allows customers to return merchandise within 30 days but still does not offer alteration or fitting services. Target offers what level of service to its customers?

Accepted Answer

A)   full service
B)   self-service
C)   automated service
D)   limited service
E)   customized serviceF) A) and B)
G) A) and C)

Question 8

Explain the dimensions of the retail positioning matrix, and give an example of a store that would be located in each quadrant of the matrix.

Accepted Answer

The retail positioning matrix is a matri...

Question 9

Some retailers now allow consumers to respond to their text messages announcing a sale for a specified time period. Consumers must then visit the website to purchase the sale items. Which of these retailing websites offers these limited time "flash sales"?

Accepted Answer

A)   TextBuyIt
B)   Best Buy
C)   PeaPod
D)   eBay
E)   GiltF) B) and E)
G) B) and D)

Question 10

A maintained markup is

Accepted Answer

A)   the difference between the final selling price and the retailer's cost.
B)   the initial selling price minus the amount paid by the retailer.
C)   the amount the manufacturer adds to achieve the desired suggested retail price.
D)   the net margin.
E)   the highest price listed for the product.F) B) and D)
G) B) and E)

Question 11

Wells Fargo is one of the largest banks in the United States. It reaches retail customers through 5,000 retail branches, a worldwide network of 13,000 ATMs, and its online banking service. Which utility does Wells Fargo best provide?

Accepted Answer

A)   time
B)   possession
C)   place
D)   form
E)   performanceF) C) and E)
G) B) and E)

Question 12

Specialty merchandise wholesalers

Accepted Answer

A)   carry a broad assortment of merchandise and perform all channel functions.
B)   own the merchandise they sell but do not physically handle, stock, or deliver it.
C)   offer a relatively narrow range of products but have an extensive assortment within the product lines carried.
D)   work for several producers, carry noncompetitive, complementary merchandise in an exclusive territory, and use over-the-road transportation for all product deliveries.
E)   deal exclusively with small low-cost consumer goods that are distributed to a select number of large retail chains.F) A) and B)
G) C) and D)

Question 13

A central business district refers to

Accepted Answer

A)   a suburban mall that contains up to 100 stores and draws customer from 5 to 10 miles away.
B)   the oldest retailing setting, located in a community's downtown area.
C)   a retail location that typically has one primary store and about 20 to 40 smaller outlets, and serves a population base of about 100,000.
D)   a cluster of stores that serves people who are within a 5- to 10-minute drive and serves a population base of under 30,000.
E)   a collection of large stores over 100,000 square feet that offers a mix of about 40 percent food products and 60 percent general merchandise items.F) C) and D)
G) A) and C)

Question 14

Vending machines are no longer limited by the need for cash. In Japan, South Korea, and the Philippines, consumers use mobile phones that transmit payments to vending machines wirelessly. This is an example of how vending machines can provide which type of utility?

Accepted Answer

A)   time
B)   place
C)   possession
D)   product
E)   formF) B) and D)
G) A) and D)

Question 15

A customer was unable to go to the store on her own to buy gifts for the holidays. She contacted a Pampered Chef representative who came to her home, showed her not only catalogs but actual products, answered all her questions, and had all the customer's gifts sorted and delivered. This is an example of

Accepted Answer

A)   interface marketing.
B)   flex marketing.
C)   direct selling.
D)   interactive selling.
E)   responsive selling.F) All of the above
G) A) and B)

Question 16

The key goal for retailers in the accelerated development phase of the retail life cycle is to

Accepted Answer

A)   recover start-up costs.
B)   establish a dominant position in the fight for market share.
C)   delay entering the decline stage of the retail life cycle.
D)   find ways of discouraging customers from moving to low-margin, mass-volume outlets.
E)   establish a retail concept that is a sharp departure from existing competition.F) C) and E)
G) A) and E)

Question 17

One of the biggest problems online retailers face is that nearly ________ percent of online shoppers make it to "check-out" and then leave the website to compare shipping costs and prices on other sites.

Accepted Answer

A)   16
B)   26
C)   36
D)   56
E)   66F) B) and C)
G) B) and D)

Question 18

Wholesalers that take title to merchandise but sell only to buyers that call on them, pay for and move/take away the merchandise themselves are referred to as

Accepted Answer

A)   rack jobbers.
B)   truck jobbers.
C)   transport vendors.
D)   cash and carry wholesalers.
E)   drop shippers.F) All of the above
G) A) and E)

Question 19

Loblaws, a Canadian supermarket, features fruits and vegetables piled high on tables that have umbrellas. The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix, this tactic is related to

Accepted Answer

A)   pricing.
B)   goods and services factor.
C)   communication.
D)   merchandise.
E)   location.F) C) and E)
G) A) and E)

Question 20

As a result of legislation, consumers who do not want to receive telephone calls related to company sales efforts can

Accepted Answer

A)   purchase telephones that block unwanted calls.
B)   place their telephone numbers on the National Do Not Call Registry.
C)   request phone numbers that begin with the area code 555 that automatically block telemarketing solicitors.
D)   request phone numbers that begin with the area code 888 that automatically block telemarketing solicitors.
E)   use an unlisted telephone number.F) All of the above
G) D) and E)

Exam 16: Retailing and Wholesaling

Explain the dimensions of the retail positioning matrix, and give an example of a store that would be located in each quadrant of the matrix.

Correct Answer
verified
The retail positioning matrix is a matri...
View Answer

Wells Fargo is one of the largest banks in the United States. It reaches retail customers through 5,000 retail branches, a worldwide network of 13,000 ATMs, and its online banking service. Which utility does Wells Fargo best provide?

Correct Answer
verified

A maintained markup is

Correct Answer
verified

The variety of different items a store carries is referred to as the

Correct Answer
verified

Vending machines are no longer limited by the need for cash. In Japan, South Korea, and the Philippines, consumers use mobile phones that transmit payments to vending machines wirelessly. This is an example of how vending machines can provide which type of utility?

Correct Answer
verified

Specialty merchandise wholesalers

Correct Answer
verified

Some retailers now allow consumers to respond to their text messages announcing a sale for a specified time period. Consumers must then visit the website to purchase the sale items. Which of these retailing websites offers these limited time "flash sales"?

Correct Answer
verified

A central business district refers to

Correct Answer
verified

One of the biggest problems online retailers face is that nearly ________ percent of online shoppers make it to "check-out" and then leave the website to compare shipping costs and prices on other sites.

Correct Answer
verified

As a result of legislation, consumers who do not want to receive telephone calls related to company sales efforts can

Correct Answer
verified

Stores that carry a broad product line, with limited depth, are referred to as

Correct Answer
verified

Wholesalers that take title to merchandise but sell only to buyers that call on them, pay for and move/take away the merchandise themselves are referred to as

Correct Answer
verified

The three key methods of classifying retail operations are

Correct Answer
verified

Target recently introduced its Target REDcard, where cardholders receive 5 percent back for each purchase. Target also allows customers to return merchandise within 30 days but still does not offer alteration or fitting services. Target offers what level of service to its customers?

Correct Answer
verified

What is category management and when is it used?

Correct Answer
verified
Category management is used to manage th...
View Answer

Online retail purchases by consumers can be the result of several very different approaches, including patronizing online malls, visiting a website that offers "flash sales," and

Correct Answer
verified

Correct Answer
verified

Walmart and The Home Depot emphasize consistently low prices and eliminate most markdowns with a retail pricing strategy called

Correct Answer
verified

Loblaws, a Canadian supermarket, features fruits and vegetables piled high on tables that have umbrellas. The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix, this tactic is related to

Correct Answer
verified

The key goal for retailers in the accelerated development phase of the retail life cycle is to

Correct Answer
verified

Exam 16: Retailing and Wholesaling

Explain the dimensions of the retail positioning matrix, and give an example of a store that would be located in each quadrant of the matrix.

Correct AnswerverifiedThe retail positioning matrix is a matri...View AnswerShow Answer

Wells Fargo is one of the largest banks in the United States. It reaches retail customers through 5,000 retail branches, a worldwide network of 13,000 ATMs, and its online banking service. Which utility does Wells Fargo best provide?

Correct AnswerverifiedShow Answer

A maintained markup is

Correct AnswerverifiedShow Answer

The variety of different items a store carries is referred to as the

Correct AnswerverifiedShow Answer

Vending machines are no longer limited by the need for cash. In Japan, South Korea, and the Philippines, consumers use mobile phones that transmit payments to vending machines wirelessly. This is an example of how vending machines can provide which type of utility?

Correct AnswerverifiedShow Answer

Specialty merchandise wholesalers

Correct AnswerverifiedShow Answer

Some retailers now allow consumers to respond to their text messages announcing a sale for a specified time period. Consumers must then visit the website to purchase the sale items. Which of these retailing websites offers these limited time "flash sales"?

Correct AnswerverifiedShow Answer

A central business district refers to

Correct AnswerverifiedShow Answer

One of the biggest problems online retailers face is that nearly ________ percent of online shoppers make it to "check-out" and then leave the website to compare shipping costs and prices on other sites.

Correct AnswerverifiedShow Answer

As a result of legislation, consumers who do not want to receive telephone calls related to company sales efforts can

Correct AnswerverifiedShow Answer

Stores that carry a broad product line, with limited depth, are referred to as

Correct AnswerverifiedShow Answer

Wholesalers that take title to merchandise but sell only to buyers that call on them, pay for and move/take away the merchandise themselves are referred to as

Correct AnswerverifiedShow Answer

The three key methods of classifying retail operations are

Correct AnswerverifiedShow Answer

Target recently introduced its Target REDcard, where cardholders receive 5 percent back for each purchase. Target also allows customers to return merchandise within 30 days but still does not offer alteration or fitting services. Target offers what level of service to its customers?

Correct AnswerverifiedShow Answer

What is category management and when is it used?

Correct AnswerverifiedCategory management is used to manage th...View AnswerShow Answer

Online retail purchases by consumers can be the result of several very different approaches, including patronizing online malls, visiting a website that offers "flash sales," and

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Walmart and The Home Depot emphasize consistently low prices and eliminate most markdowns with a retail pricing strategy called

Correct AnswerverifiedShow Answer

Loblaws, a Canadian supermarket, features fruits and vegetables piled high on tables that have umbrellas. The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix, this tactic is related to

Correct AnswerverifiedShow Answer

The key goal for retailers in the accelerated development phase of the retail life cycle is to

Correct AnswerverifiedShow Answer

Correct Answer
verified
The retail positioning matrix is a matri...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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verified
Category management is used to manage th...
View Answer

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