Question 1

There are three general forms of retail ownership: contractual system, independent retailer, and

Accepted Answer

A)   dual ownership.
B)   industry consortium.
C)   retailing cooperative.
D)   multinational cartel.
E)   corporate chain.F) C) and D)
G) A) and D)

Question 2

The four major types of limited-service merchant wholesalers are drop shippers, rack jobbers, truck jobbers, and

Accepted Answer

A)   machine vendors.
B)   credit line wholesalers.
C)   transport vendors.
D)   cash and carry wholesalers.
E)   container transport vendors.F) C) and E)
G) A) and B)

Question 3

A limited-service wholesaler that furnishes shelves that display merchandise in stores, performs all channel functions, and sells on consignment to retailers is referred to as a

Accepted Answer

A)   stack loader.
B)   rack jobber.
C)   drop shipper.
D)   desk jobber.
E)   truck jobber.F) B) and D)
G) C) and D)

Question 4

During which stage of the retail life cycle do companies establish multiple outlets?

Accepted Answer

A)   decline
B)   maturity
C)   accelerated development
D)   introduction
E)   early growthF) A) and B)
G) B) and C)

Question 5

Markdowns can be used to

Accepted Answer

A)   increase competition with other retailers in the immediate vicinity.
B)   placate dissatisfied customers.
C)   enhance customer perceptions of product quality.
D)   increase demand for complementary products.
E)   reduce the sense of urgency among repeat buyers.F) D) and E)
G) C) and D)

Question 6

Which of the following retailers provide self-service to their customers?

Accepted Answer

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

Question 7

Which type of outlet is most likely in its maturity stage of the retail life cycle?

Accepted Answer

A)   single-price stores
B)   value retail centers
C)   online retailers
D)   business-district retailers
E)   convenience storesF) A) and B)
G) A) and E)

Question 8

Carla's Cards uses a ________ to sell and market the entire line of greeting cards. It designs promotional plans, sets prices, determines distribution policies, and makes recommendations to Carla on product strategy.

Accepted Answer

A)   manufacturer's agent
B)   broker
C)   manufacturer's branch office
D)   manufacturer's sales office
E)   selling agentF) A) and C)
G) B) and E)

Question 9

Describe several of the technical solutions that power today's "smart store."

Accepted Answer

Smart stores use a variety of technical ...

Question 10

Some retailers advocate ________ strategy, a pricing strategy that may not offer the lowest prices but does try to create value for customers through its service and the total buying experience.

Accepted Answer

A)   a customer loyalty
B)   a value emphasis
C)   an everyday low pricing
D)   a low-margin
E)   an everyday fair pricingF) D) and E)
G) B) and D)

Question 11

Which of the following is an example of nonstore retailing?

Accepted Answer

A)   hypermarkets
B)   supercenters
C)   shopping centers
D)   direct selling
E)   general merchandise storesF) A) and B)
G) A) and C)

Question 12

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 B)
G) A) and C)

Question 13

Wells Fargo is one largest consumer banks in the United States. It reaches retail customers through 8,600 stores, 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) A) and B)
G) B) and D)

Question 14

Companies such as Avon, Fuller Brush, Mary Kay, and World Book are examples of firms that use

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 15

The ability to shop over the Internet 24 hours a day, seven days a week, provides consumers with ________ utility.

Accepted Answer

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

Question 16

The four stages of the retail life cycle are

Accepted Answer

A)   introduction, growth, maturity, and decline.
B)   awareness, inquiry, alternative evaluation, and purchase.
C)   early growth, accelerated development, maturity, and decline.
D)   innovation, standardization, adaptation, and obsolescence.
E)   innovation, adaptation, imitation, and obsolescence.F) A) and C)
G) A) and B)

Question 17

The oldest retail setting, located in the community's downtown area, is referred to as

Accepted Answer

A)   the central business district.
B)   main street.
C)   the community square.
D)   the economic center.
E)   the historic commerce district.F) A) and D)
G) A) and B)

Question 18

Retailing includes all activities involved in the

Accepted Answer

A)   selling, renting, and providing of products and services to ultimate consumers for personal, family, or household use.
B)   selling of tangible products to ultimate consumers for personal, family, or household use.
C)   selling of tangible products to ultimate consumers for personal, household, or industrial use.
D)   selling, renting, leasing, or reselling of products and services to ultimate consumers or small industrial users.
E)   selling, renting, and providing of products and services without retaining the title to these offerings.F) A) and B)
G) None of the above

Question 19

As part of their regular retail pricing strategy, some retailers will emphasize consistently low prices and eliminate most markdowns, a practice referred to as

Accepted Answer

A)   everyday low pricing.
B)   low-margin pricing.
C)   everyday fair pricing.
D)   value-based pricing.
E)   maintained pricing.F) None of the above
G) C) and D)

Question 20

Many fast-food retailers, including McDonald's and Burger King, have followed a predictable pattern of how new forms of retail outlets enter the marketplace. McDonald's has evolved from a relatively simple restaurant with low margins, low prices, limited product offerings, and low institutional status to a worldwide chain with higher margins, high status, and a diverse menu of products. This evolution of McDonald's restaurants is consistent with the

Accepted Answer

A)   slow to fast-food restaurant evolutionary cycle.
B)   revolution of retailing.
C)   retail life cycle.
D)   fast-food retail sequence.
E)   wheel of retailing.F) B) and D)
G) C) and D)

Exam 13: Retailing and Wholesaling

The four stages of the retail life cycle are

Correct Answer
verified

There are three general forms of retail ownership: contractual system, independent retailer, and

Correct Answer
verified

The four major types of limited-service merchant wholesalers are drop shippers, rack jobbers, truck jobbers, and

Correct Answer
verified

Markdowns can be used to

Correct Answer
verified

As part of their regular retail pricing strategy, some retailers will emphasize consistently low prices and eliminate most markdowns, a practice referred to as

Correct Answer
verified

Companies such as Avon, Fuller Brush, Mary Kay, and World Book are examples of firms that use

Correct Answer
verified

Which type of outlet is most likely in its maturity stage of the retail life cycle?

Correct Answer
verified

During which stage of the retail life cycle do companies establish multiple outlets?

Correct Answer
verified

A limited-service wholesaler that furnishes shelves that display merchandise in stores, performs all channel functions, and sells on consignment to retailers is referred to as a

Correct Answer
verified

Which of the following is an example of nonstore retailing?

Correct Answer
verified

The ability to shop over the Internet 24 hours a day, seven days a week, provides consumers with ________ utility.

Correct Answer
verified

Carla's Cards uses a ________ to sell and market the entire line of greeting cards. It designs promotional plans, sets prices, determines distribution policies, and makes recommendations to Carla on product strategy.

Correct Answer
verified

Which of the following retailers provide self-service to their customers?

Correct Answer
verified

The oldest retail setting, located in the community's downtown area, is referred to as

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

Some retailers advocate ________ strategy, a pricing strategy that may not offer the lowest prices but does try to create value for customers through its service and the total buying experience.

Correct Answer
verified

Describe several of the technical solutions that power today's "smart store."

Correct Answer
verified
Smart stores use a variety of technical ...
View Answer

Retailing includes all activities involved in the

Correct Answer
verified

Correct Answer
verified

Wells Fargo is one largest consumer banks in the United States. It reaches retail customers through 8,600 stores, a worldwide network of 13,000 ATMs, and its online banking service. Which utility does Wells Fargo best provide?

Correct Answer
verified

Exam 13: Retailing and Wholesaling

The four stages of the retail life cycle are

Correct AnswerverifiedShow Answer

There are three general forms of retail ownership: contractual system, independent retailer, and

Correct AnswerverifiedShow Answer

The four major types of limited-service merchant wholesalers are drop shippers, rack jobbers, truck jobbers, and

Correct AnswerverifiedShow Answer

Markdowns can be used to

Correct AnswerverifiedShow Answer

As part of their regular retail pricing strategy, some retailers will emphasize consistently low prices and eliminate most markdowns, a practice referred to as

Correct AnswerverifiedShow Answer

Companies such as Avon, Fuller Brush, Mary Kay, and World Book are examples of firms that use

Correct AnswerverifiedShow Answer

Which type of outlet is most likely in its maturity stage of the retail life cycle?

Correct AnswerverifiedShow Answer

During which stage of the retail life cycle do companies establish multiple outlets?

Correct AnswerverifiedShow Answer

A limited-service wholesaler that furnishes shelves that display merchandise in stores, performs all channel functions, and sells on consignment to retailers is referred to as a

Correct AnswerverifiedShow Answer

Which of the following is an example of nonstore retailing?

Correct AnswerverifiedShow Answer

The ability to shop over the Internet 24 hours a day, seven days a week, provides consumers with ________ utility.

Correct AnswerverifiedShow Answer

Carla's Cards uses a ________ to sell and market the entire line of greeting cards. It designs promotional plans, sets prices, determines distribution policies, and makes recommendations to Carla on product strategy.

Correct AnswerverifiedShow Answer

Which of the following retailers provide self-service to their customers?

Correct AnswerverifiedShow Answer

The oldest retail setting, located in the community's downtown area, is referred to as

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

Some retailers advocate ________ strategy, a pricing strategy that may not offer the lowest prices but does try to create value for customers through its service and the total buying experience.

Correct AnswerverifiedShow Answer

Describe several of the technical solutions that power today's "smart store."

Correct AnswerverifiedSmart stores use a variety of technical ...View AnswerShow Answer

Retailing includes all activities involved in the

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Wells Fargo is one largest consumer banks in the United States. It reaches retail customers through 8,600 stores, a worldwide network of 13,000 ATMs, and its online banking service. Which utility does Wells Fargo best provide?

Correct AnswerverifiedShow Answer

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Correct Answer
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Correct Answer
verified
Smart stores use a variety of technical ...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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