Question 1

Intermediaries that work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory are referred to as

Accepted Answer

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

Question 2

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) B) and C)
G) All of the above

Question 3

A franchise where the franchisor provides step-by-step procedures for most aspects of the business is known as a

Accepted Answer

A)  business-format franchise.
B)  product-distribution franchise.
C)  nonprofit franchise.
D)  manufacturing franchise.
E)  general service franchise.F) A) and E)
G) B) and C)

Question 4

Independently owned stores that band together to act like a chain are referred to as

Accepted Answer

A)  corporate chains.
B)  cooperative marketing systems.
C)  contractual systems.
D)  regional shopping centers.
E)  self-service systems.F) B) and C)
G) A) and D)

Question 5

Redbox has 40,000 kiosks throughout the United States for movie and video game rental and it operates without a single clerk.What level of service does this retailer offer?

Accepted Answer

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

Question 6

Which form of retail outlet would most likely offer customers convenience,quality personal service,and lifestyle compatibility?

Accepted Answer

A)  corporate chain
B)  independent retailer
C)  administered system
D)  contractual system
E)  sole incorporationF) A) and B)
G) A) and C)

Question 7

Which of the following statements best describes the key difference between merchant wholesalers and agents and brokers?

Accepted Answer

A)  Merchant wholesalers don't perform all channel functions,whereas agents and brokers do.
B)  Agents and brokers only deal with consumer channels.
C)  Agents and brokers make their profits based on the sales of merchandise they own,while merchant wholesalers make profits based on fees paid for their services.
D)  Merchant wholesalers take title to merchandise,whereas agents and brokers do not.
E)  Agents and brokers take title to merchandise,whereas merchant wholesalers do not.F) B) and D)
G) A) and D)

Question 8

Cash and carry wholesalers

Accepted Answer

A)  furnish the racks or shelves that display merchandise in retail stores,perform all channel functions,and sell on consignment to retailers.
B)  take title to merchandise but sell only to buyers that call on them,pay cash for merchandise,and furnish their own transportation for merchandise.
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) D) and E)
G) A) 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

Briefly describe the two general types of franchises.

Accepted Answer

Franchises can be classified in two gene...

Question 11

Another name for a manufacturer's agent is a

Accepted Answer

A)  manufacturer's desk jobber.
B)  manufacturer's transport vendor.
C)  manufacturer's representative.
D)  manufacturer's wholesaler.
E)  manufacturer's rack jobber.F) C) and E)
G) B) and D)

Question 12

Cash and carry wholesalers

Accepted Answer

A)  handle bulky items such as lumber,bricks,and telephone poles.
B)  handle perishable items such as flowers,baked goods,and deli meats.
C)  handle office supplies,electrical supplies,hardware products,and groceries.
D)  are a kind of full-service wholesaler.
E)  lease vending machines to merchants and refill them as needed on a cash only basis.F) A) and C)
G) B) and D)

Question 13

Both market share and profit achieve their greatest growth rates during which stage of the retail life cycle?

Accepted Answer

A)  decline
B)  maturity
C)  introduction
D)  early growth
E)  accelerated developmentF) All of the above
G) B) and E)

Question 14

A community shopping center is a

Accepted Answer

A)  suburban mall containing up to 100 stores that draws customer from a 5- to 10-mile radius.
B)  cluster of stores in a downtown area.
C)  cluster of stores that serves people who are within a 5- to 10-minute drive.
D)  collection of category killers usually located outside a major amusement park or attraction.
E)  retail location that typically has one primary store (usually a department store branch) with 20 to 40 smaller outlets serving a population of consumers who are within a 10- to 20-minute drive.F) A) and E)
G) B) and D)

Question 15

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) All of the above
G) C) and D)

Question 16

Of these categories,the smallest dollar amount of retail sales in the United States is generated by

Accepted Answer

A)  motor vehicle and parts dealers.
B)  food and beverage stores.
C)  sporting goods,hobby,book,and music stores.
D)  gasoline stations.
E)  building material and garden stores.F) B) and D)
G) A) and D)

Question 17

The marketing metrics related to a retailer's customers include all of the following except which?

Accepted Answer

A)  the number of customers per day or per hour
B)  the average length of a store visit
C)  the turnover of inventory
D)  the average transaction size per customer
E)  the number of transactions per customerF) A) and E)
G) A) and B)

Question 18

In initially competing with established burger chains,outlets such as Checkers Drive-In Restaurants typically enter the wheel of retailing with

Accepted Answer

A)  limited menus and limited service.
B)  extensive menus and expansive service.
C)  extensive menus and self-service.
D)  high prices and novel menu items.
E)  high prices and expansive service.F) All of the above
G) A) and B)

Question 19

The music played in the grocery store has a slow tempo to get shoppers to stay longer and hopefully put more items in their cart.Music is part of the grocery store's

Accepted Answer

A)  atmosphere.
B)  sensory management plan.
C)  psychological attributes.
D)  personality type.
E)  sociological profile.F) C) and D)
G) A) and B)

Question 20

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...

Exam 16: Retailing and Wholesaling

Independently owned stores that band together to act like a chain are referred to as

Correct AnswerverifiedShow Answer

Which form of retail outlet would most likely offer customers convenience,quality personal service,and lifestyle compatibility?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

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

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

Cash and carry wholesalers

Correct AnswerverifiedShow Answer

Both market share and profit achieve their greatest growth rates during which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

Intermediaries that work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory are referred to as

Correct AnswerverifiedShow Answer

In initially competing with established burger chains,outlets such as Checkers Drive-In Restaurants typically enter the wheel of retailing with

Correct AnswerverifiedShow Answer

Another name for a manufacturer's agent is a

Correct AnswerverifiedShow Answer

Which of the following statements best describes the key difference between merchant wholesalers and agents and brokers?

Correct AnswerverifiedShow Answer

A community shopping center is a

Correct AnswerverifiedShow Answer

The music played in the grocery store has a slow tempo to get shoppers to stay longer and hopefully put more items in their cart.Music is part of the grocery store's

Correct AnswerverifiedShow Answer

A franchise where the franchisor provides step-by-step procedures for most aspects of the business is known as a

Correct AnswerverifiedShow Answer

Redbox has 40,000 kiosks throughout the United States for movie and video game rental and it operates without a single clerk.What level of service does this retailer offer?

Correct AnswerverifiedShow Answer

Briefly describe the two general types of franchises.

Correct AnswerverifiedFranchises can be classified in two gene...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Cash and carry wholesalers

Correct AnswerverifiedShow Answer

Of these categories,the smallest dollar amount of retail sales in the United States is generated by

Correct AnswerverifiedShow Answer

The marketing metrics related to a retailer's customers include all of the following except which?

Correct AnswerverifiedShow Answer

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The retail positioning matrix is a matri...
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Smart stores use a variety of technical ...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Franchises can be classified in two gene...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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