Question 1

The largest percentage of products sold from vending machines are

Accepted Answer

A)  candy and snacks.
B)  personal items.
C)  movies and videos.
D)  cold beverages.
E)  food.F) A) and D)
G) B) and E)

Question 2

Mall of America has three ________ stores: Nordstrom,Macy's,and Sears.

Accepted Answer

A)  strip mall
B)  local competitor
C)  broker
D)  retailing mix
E)  anchorF) C) and D)
G) A) and E)

Question 3

Wholesalers that have a small warehouse from which they stock their trucks for distribution to retailers are referred to as

Accepted Answer

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

Question 4

A manufacturer's branch office

Accepted Answer

A)  carries a producer's inventory and performs the functions of a full-service wholesaler.
B)  performs a sales function as an option to agents and brokers.
C)  works for several producers and carries noncompetitive,complementary merchandise in an exclusive territory.
D)  takes title to merchandise but sells only to buyers that call on them,pay cash for merchandise,and furnish their own transportation for the merchandise.
E)  brings buyers and sellers together to make sales.F) B) and D)
G) B) and C)

Question 5

List the five store locations or settings.How has the location of stores changed over the years?

Accepted Answer

Department stores started downtown in mo...

Question 6

In the past,television home shopping programs have attracted mostly

Accepted Answer

A)  18- to 34-year-old men.
B)  25- to 45-year-old women.
C)  35- to 56-year-old men.
D)  35- to 64-year-old women.
E)  12- to 17-year-old boys.F) A) and D)
G) D) and E)

Question 7

Figure 16-8
 
-Which of the following retailers would best fit in quadrant D shown in the retail positioning matrix,Figure 16-8 above?

Accepted Answer

A)  Kmart
B)  Dillard's department store
C)  7-Eleven convenience store
D)  Payless ShoeSource
E)  Tiffany & Co.F) A) and B)
G) D) and E)

Question 8

At which level of service would the customer perform the least number of functions?

Accepted Answer

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

Question 9

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

Question 10

Which of the following statements regarding QVC is most accurate?

Accepted Answer

A)  QVC broadcasts 12 hours a day,365 days a year.
B)  QVC reaches 360 million homes in the United States,United Kingdom,Germany,Japan,Italy,and China.
C)  QVC never offers the same product two days in a row.
D)  QVC sells all its items by dropping the price to $1.00,regardless of the product value,if it is not sold in one day.
E)  QVC entices customers to "stay tuned" by offering free products to random callers.F) A) and B)
G) B) and D)

Question 11

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

Accepted Answer

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

Question 12

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 it carries?

Accepted Answer

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

Question 13

Gas stations,supermarkets,and airlines that have unstaffed check-out or check-in terminals are providing what level of retail service?

Accepted Answer

A)  full-service
B)  limited-service
C)  customized-service
D)  self-service
E)  automated-serviceF) None of the above
G) A) and B)

Question 14

Discounting a product when the product does not sell at the original price is referred to as

Accepted Answer

A)  an inverse markup.
B)  a markdown.
C)  price sensitivity.
D)  concession pricing.
E)  a rebate.F) C) and E)
G) B) and E) B

Question 15

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 C)
G) B) and D)

Question 16

Retailers that integrate and leverage their stores,catalogs,and websites have seen

Accepted Answer

A)  a sizable increase in yearly sales from individual customers.
B)  a small increase in yearly sales from aggregate target market segments.
C)  no difference in yearly sales from individual customers.
D)  a decrease in yearly sales from individual customers.
E)  a large decrease in yearly sales from individual customers.F) None of the above
G) B) and D)

Question 17

As a business-format franchisor,McDonald's provides to the franchisee step-by-step procedures for most aspects of the business and

Accepted Answer

A)  an easy resale mechanism back to the franchisor.
B)  guaranteed access to competent suppliers and interested customers.
C)  complete maintenance of the property.
D)  guidelines for the most likely decisions a franchisee will face.
E)  discipline for dishonest employees.F) D) and E)
G) B) and C)

Question 18

Which type of outlet is most likely in its decline 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) C) and E)
G) A) and E)

Question 19

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

Accepted Answer

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

Question 20

________ retailers utilize and integrate a combination of traditional store formats and nonstore formats.

Accepted Answer

A)  Progressive
B)  Opportunistic
C)  Multichannel
D)  Cluster
E)  PowerF) C) and E)
G) None of the above

Exam 16: Retailing and Wholesaling

The largest percentage of products sold from vending machines are

Correct AnswerverifiedShow Answer

Mall of America has three ________ stores: Nordstrom,Macy's,and Sears.

Correct AnswerverifiedShow Answer

Wholesalers that have a small warehouse from which they stock their trucks for distribution to retailers are referred to as

Correct AnswerverifiedShow Answer

A manufacturer's branch office

Correct AnswerverifiedShow Answer

List the five store locations or settings.How has the location of stores changed over the years?

Correct AnswerverifiedDepartment stores started downtown in mo...View AnswerShow Answer

In the past,television home shopping programs have attracted mostly

Correct AnswerverifiedShow Answer

Figure 16-8 -Which of the following retailers would best fit in quadrant D shown in the retail positioning matrix,Figure 16-8 above?

Correct AnswerverifiedShow Answer

At which level of service would the customer perform the least number of functions?

Correct AnswerverifiedE

The four stages of the retail life cycle are

Correct AnswerverifiedShow Answer

Which of the following statements regarding QVC is most accurate?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedE

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 it carries?

Correct AnswerverifiedShow Answer

Gas stations,supermarkets,and airlines that have unstaffed check-out or check-in terminals are providing what level of retail service?

Correct AnswerverifiedShow Answer

Discounting a product when the product does not sell at the original price is referred to as

Correct AnswerverifiedB

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

Correct AnswerverifiedShow Answer

Retailers that integrate and leverage their stores,catalogs,and websites have seen

Correct AnswerverifiedShow Answer

As a business-format franchisor,McDonald's provides to the franchisee step-by-step procedures for most aspects of the business and

Correct AnswerverifiedShow Answer

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

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

________ retailers utilize and integrate a combination of traditional store formats and nonstore formats.

Correct AnswerverifiedShow Answer

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Department stores started downtown in mo...
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E

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E

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B

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

Correct Answer
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