Question 1

Dick's Sporting Goods is a leading sports retailer that provides year-round inventory of equipment for just about any sport. Even during the off-season, equipment for seasonal sports is available at Dick's. Which utility does the it best provide?

Accepted Answer

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

Question 2

________ is a consumer's perception of an encounter with a store's physical environment, personnel, and policies and procedures.

Accepted Answer

A)   Sensorial management
B)   Psychographic development
C)   Antecedent positioning
D)   Perceptual appeal
E)   Shopping experienceF) B) and E)
G) D) and E)

Question 3

The acronym RFID stands for

Accepted Answer

A)   retail franchise identification designation.
B)   required financial identification.
C)   radar frequency identification.
D)   radio frequency identification.
E)   retail federation of independent department stores.F) A) and C)
G) A) and E)

Question 4

Stores that carry a considerable assortment (depth)  of a related line of items 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 E)
G) D) and E)

Question 5

Which of the following is a type of full-service merchant wholesaler?

Accepted Answer

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

Question 6

The sales of products and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as

Accepted Answer

A)   direct selling.
B)   person-to-person sales.
C)   face-to-face selling.
D)   direct-response selling.
E)   customized selling.F) A) and B)
G) All of the above

Question 7

Wholesalers that simply solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer are referred to as

Accepted Answer

A)   cash and carry wholesalers.
B)   rack jobbers.
C)   drop shippers.
D)   truck jobbers.
E)   manufacturer's representatives.F) A) and E)
G) A) and D)

Question 8

The wholesalers most prevalent in the hardware, drug, and clothing industries are

Accepted Answer

A)   specialty wholesalers.
B)   full-line wholesalers.
C)   cash and carry wholesalers.
D)   limited-line wholesalers.
E)   universal wholesalers.F) A) and E)
G) A) and B)

Question 9

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as

Accepted Answer

A)   brokers.
B)   line brokers.
C)   selling agents.
D)   distribution brokers.
E)   manufacturers' agents.F) C) and E)
G) B) and E)

Question 10

The use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store is referred to as

Accepted Answer

A)   functional qualities.
B)   level of service.
C)   shopper marketing.
D)   lifestyle attributes.
E)   psychographic elements.F) A) and D)
G) A) and B)

Question 11

Many neighborhoods have clusters of retail stores, referred to as a strip mall, to serve people who are within a 5- to 10-minute drive. Unlike the larger shopping centers, the composition of these stores usually

Accepted Answer

A)   is unplanned.
B)   includes national anchor stores.
C)   is restricted to privately owned specialty stores.
D)   is mainly fast-food restaurants.
E)   includes amusement or theme parks, or movie theaters.F) A) and D)
G) A) and C)

Question 12

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

Accepted Answer

A)   original markup.
B)   maintained markup.
C)   markdown.
D)   differential markup.
E)   discounted price.F) C) and D)
G) A) and D)

Question 13

Independently owned firms that take title to the merchandise they handle are referred to as

Accepted Answer

A)   brokers.
B)   agencies.
C)   virtual retailers.
D)   merchant wholesalers.
E)   merchant retailers.F) B) and D)
G) A) and D)

Question 14

Which of the following firms has made the wisest wholesaler choice for its product?

Accepted Answer

A)   Sam's Coal Country uses a drop shipper for its coal.
B)   Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs.
C)   Hannah's Hardware uses a rack jobber for its hinges.
D)   Shayna's Superior Supplies uses a desk jobber for its staplers.
E)   Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights.F) A) and B)
G) All of the above

Question 15

Explain the difference between breadth of line and depth of line. Be sure to include the definition of scrambled merchandising in your explanation.

Accepted Answer

Breadth of line means the store carries ...

Question 16

Most of the 3.7 million retail establishments in the United States, including hardware stores, convenience stores, clothing stores, and electronics stores, are considered

Accepted Answer

A)   corporate chains.
B)   contractual systems.
C)   independent retailers.
D)   conglomerates.
E)   multinationals.F) B) and E)
G) A) and B)

Question 17

Why are vending machine prices often higher than those in a retail store?

Accepted Answer

Vending machine maintenance, o...

Question 18

Which of the following is one of the largest retailers in the United States?

Accepted Answer

A)   Hallmark
B)   Procter & Gamble
C)   Merck
D)   Target
E)   Johnson and JohnsonF) A) and E)
G) B) and D)

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 E)
G) C) and D)

Question 20

Explain the difference between full-service and limited-service merchant wholesalers. List and describe the types of wholesalers that belong in each category.

Accepted Answer

Merchant wholesalers are classified eith...

Exam 13: Retailing and Wholesaling

Most of the 3.7 million retail establishments in the United States, including hardware stores, convenience stores, clothing stores, and electronics stores, are considered

Correct AnswerverifiedShow Answer

Dick's Sporting Goods is a leading sports retailer that provides year-round inventory of equipment for just about any sport. Even during the off-season, equipment for seasonal sports is available at Dick's. Which utility does the it best provide?

Correct AnswerverifiedShow Answer

Why are vending machine prices often higher than those in a retail store?

Correct AnswerverifiedVending machine maintenance, o...View AnswerShow Answer

Which of the following firms has made the wisest wholesaler choice for its product?

Correct AnswerverifiedShow Answer

The sales of products and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as

Correct AnswerverifiedShow Answer

Stores that carry a considerable assortment (depth) of a related line of items are referred to as

Correct AnswerverifiedShow Answer

Wholesalers that simply solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer are referred to as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following is one of the largest retailers in the United States?

Correct AnswerverifiedShow Answer

Independently owned firms that take title to the merchandise they handle are referred to as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

________ is a consumer's perception of an encounter with a store's physical environment, personnel, and policies and procedures.

Correct AnswerverifiedShow Answer

The acronym RFID stands for

Correct AnswerverifiedShow Answer

Which of the following is a type of full-service merchant wholesaler?

Correct AnswerverifiedShow Answer

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as

Correct AnswerverifiedShow Answer

Many neighborhoods have clusters of retail stores, referred to as a strip mall, to serve people who are within a 5- to 10-minute drive. Unlike the larger shopping centers, the composition of these stores usually

Correct AnswerverifiedShow Answer

The use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store is referred to as

Correct AnswerverifiedShow Answer

Explain the difference between full-service and limited-service merchant wholesalers. List and describe the types of wholesalers that belong in each category.

Correct AnswerverifiedMerchant wholesalers are classified eith...View AnswerShow Answer

The wholesalers most prevalent in the hardware, drug, and clothing industries are

Correct AnswerverifiedShow Answer

Explain the difference between breadth of line and depth of line. Be sure to include the definition of scrambled merchandising in your explanation.

Correct AnswerverifiedBreadth of line means the store carries ...View AnswerShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Vending machine maintenance, o...
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
Merchant wholesalers are classified eith...
View Answer

Correct Answer
verified

Correct Answer
verified
Breadth of line means the store carries ...
View Answer