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A Woman's Place is a retail store, created and staffed by women, that offers products and services relating to maternity needs. For expectant mothers, it offers advice and personal shopping services, help with hair or make-up problems, and free delivery. A Woman's Place is an example of ________ retailer.


A) a franchise
B) a self-service
C) a limited-service
D) a full-service
E) an upscale

F) B) and E)
G) B) and C)

Correct Answer

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A markdown refers to


A) the difference between the final selling price and the retailer's cost.
B) the amount the manufacturer adds to achieve the desired suggested retail price.
C) discounting a product when it does not sell at the original price and an adjustment is necessary.
D) the lowest price to which a retailer can reduce a sales ticket and still make a profit.
E) the net margin.

F) A) and B)
G) None of the above

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


A) 10
B) 20
C) 30
D) 50
E) 80

F) A) and E)
G) A) and D)

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Rack jobbers are wholesalers that


A) furnish the shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.
B) own the merchandise they sell and have retailers store it in their warehouses.
C) own the merchandise they sell but do not physically handle, stock, or deliver it.
D) have a small warehouse from which they stock their trucks for distribution to retailers.
E) work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.

F) A) and C)
G) C) and E)

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A central business district refers to


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) A) and E)
G) C) and D)

Correct Answer

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Manufacturers' agent are agents who


A) represent a single producer and carry all products in the producer's lines.
B) work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.
C) take title to merchandise but sell only to buyers that call on them, pay cash for merchandise, and furnish their own transportation for merchandise.
D) own the merchandise they sell but do not physically handle, stock, or deliver it.
E) furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.

F) C) and D)
G) A) and E)

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A unique broker that acts in many ways like a manufacturer's agent is a food broker, representing buyers and sellers in the grocery industry. Food brokers differ from conventional brokers because they act on behalf of producers on a permanent basis and


A) receive a commission for their services.
B) are paid a flat fee for each time the shelves are stocked.
C) are paid by both the buyer and seller separately depending upon the size of the order.
D) are paid a commission by the buyer and a bonus by the seller.
E) are paid a flat fee by both the buyer and seller, but receive a bonus based upon the percentage of increased sales by quarter.

F) A) and D)
G) A) and E)

Correct Answer

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Coca-Cola distributors represent which type of franchise?


A) business-format franchise
B) manufacturing franchise
C) general service franchise
D) product-distribution franchise
E) business franchise venture

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

Correct Answer

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7-11 is a popular


A) business-format franchise.
B) product-distribution franchise.
C) operations franchise venture.
D) manufacturing franchise.
E) general service franchise.

F) C) and E)
G) C) and D)

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A drugstore that carries food, cosmetics, magazines, paper products, toys, small hardware items, and pharmaceuticals is an example of a retailer using


A) multiple distribution channels.
B) full service.
C) scrambled merchandising.
D) intertype competition.
E) dual channel marketing.

F) A) and B)
G) A) and C)

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The activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise are referred to as the


A) wheel of retailing.
B) distribution mix.
C) retail life cycle.
D) retailing mix.
E) retail store positioning.

F) A) and C)
G) B) and C)

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Outside the United States, large retailers include ________ in Japan, Carrefour in France, Metro Group in Germany, and Tesco in Britain.


A) Aeon
B) Toshei
C) Seebi
D) Goshen
E) Toshi

F) B) and D)
G) C) and E)

Correct Answer

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In the retail life cycle, ________ is the stage of emergence of a retail outlet, with a sharp departure from existing competition.


A) retail innovation
B) maturity
C) introduction
D) early growth
E) accelerated development

F) A) and E)
G) B) and E)

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Sally Beauty Supply sells products for hair, skin, and nail care as well as cosmetics. It is most likely classified as which retail variation based on the considerable assortment of beauty and personal care products in carries?


A) single-line
B) full service
C) full-line
D) limited service
E) limited-line

F) None of the above
G) A) and B)

Correct Answer

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Nordstrom stores typically have 50 percent more salespeople on the floor than other retailers with stores of similar sizes. Its salespeople are renowned for their professional and personalized attention to customers. Nordstrom offers a wide variety of services, including on-site alterations and tailoring, a 7-days-a-week customer service line, live chat line with beauty, design, and wedding specialists and would be considered


A) an exclusive-service retailer.
B) a limited-service retailer.
C) a full-service retailer.
D) an upscale retailer.
E) a limited-domain retailer.

F) A) and B)
G) B) and C)

Correct Answer

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The calculation for same-store sales growth is


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) A) and D)
G) C) and D)

Correct Answer

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Direct selling is likely to continue to have strong growth in markets


A) in which people prefer not to have a social shopping experience.
B) where convenience is not especially important.
C) in which consumers are knowledgeable shoppers.
D) where there is a lack of effective distribution channels.
E) that have an excellent infrastructure.

F) C) and D)
G) A) and B)

Correct Answer

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A maintained markup is


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

Correct Answer

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Offering several unrelated product lines in a single store is referred to as


A) intertype competition.
B) multiple distribution.
C) scrambled merchandising.
D) a department store.
E) a specialty outlet.

F) B) and E)
G) A) and E)

Correct Answer

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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 does not offer alteration or fitting services for its clothing. Target offers what level of service to its customers?


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

F) All of the above
G) None of the above

Correct Answer

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