Question 1

Subway restaurants that offer sandwiches made exactly to each customer's preference are providing ________ utility.

Accepted Answer

A)  time
B)  place
C)  possession
D)  form
E)  processF) All of the above
G) B) and D)

Question 2

Key target markets for Mall of America are

Accepted Answer

A)  the interstate market and discount shoppers.
B)  shoppers who seek mainstream experiences and bargain hunters.
C)  large numbers of similar retailers to maintain a consistent retail profile.
D)  budget-conscious travelers and time-poor shoppers.
E)  the local market and tourists.F) A) and D)
G) None of the above

Question 3

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 C)
G) A) and B)

Question 4

Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried?

Accepted Answer

A)  general merchandise wholesaler
B)  limited-service wholesaler
C)  cash and carry wholesaler
D)  specialty merchandise wholesaler
E)  drop shipperF) A) and B)
G) None of the above

Question 5

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

Question 6

Unlike merchant wholesalers,agents,and brokers,manufacturers' branches and sales offices are ________ that perform wholesaling activities.

Accepted Answer

A)  independent distribution managers
B)  independent intermediary channels
C)  wholly owned extensions of the producer
D)  wholly owned extensions of the distributor
E)  wholly owned extensions of the retailerF) A) and B)
G) None of the above

Question 7

Explain the difference between a markup,an original markup,and a maintained markup.

Accepted Answer

In setting prices for merchandise,retail...

Question 8

As a franchisor,7-Eleven would assist a franchisee in selecting the store location,setting up the store,advertising,and

Accepted Answer

A)  developing the marketing program.
B)  training personnel.
C)  offering performance bonuses.
D)  ordering and restocking inventory.
E)  paying insurance and legal fees.F) B) and D)
G) A) and E)

Question 9

What is off-price retailing? Identify and give an example of the three variations of off-price retailing.

Accepted Answer

Off-price retailing involves selling bra...

Question 10

The variety of different items a store carries is referred to as the

Accepted Answer

A)  retailing mix.
B)  depth of product line.
C)  breadth of product line.
D)  width of product line.
E)  length of product line.F) None of the above
G) A) and E)

Question 11

A franchise where the franchiser provides a few general guidelines and more independence to the franchisee is known as a

Accepted Answer

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

Question 12

Originally,filters for Mr.Coffee electric-drip coffeemakers were sold through appliance and mass merchandise stores.If the company decided to sell the filters in grocery stores where customers purchased their coffee,what type of intermediaries would the company most likely hire?

Accepted Answer

A)  a full-line wholesaler
B)  a drop shipper
C)  a food broker
D)  a truck jobber
E)  a manufacturer's representativeF) A) and B)
G) A) and E)

Question 13

________ describes very dissimilar types of retail outlets that compete with each other as a result of scrambled merchandising.

Accepted Answer

A)  The wheel of retailing
B)  The retail positioning framework
C)  Intertype competition
D)  The retail competitive cycle
E)  The multichannel retail competitive mapF) A) and D)
G) A) and C)

Question 14

A grocery manufacturer that is seeking an agent that would act on its behalf on a permanent basis and receive a commission should use a

Accepted Answer

A)  food broker.
B)  grocery broker.
C)  selling agent.
D)  dual distribution system.
E)  rack jobber.F) A) and B)
G) None of the above

Question 15

Freightfinder.com is an Internet company that is called a "go-between." If a trucker needs to find a load for a particular trade lane,he or she can visit this site,list the price and available truck space,and find a company that needs a shipment moved.Since the purpose of this website is to put buyer and sellers together so that a single sale can be made,this website can be categorized as

Accepted Answer

A)  a selling agent.
B)  a manufacturer's representative.
C)  a manufacturer's agent.
D)  a broker.
E)  an administrator.F) A) and E)
G) A) and C)

Question 16

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as a(n)

Accepted Answer

A)   markup.
B)   markdown.
C)   original markup.
D)   maintained markup.
E)   cost-plus markup.F) A) and B)
G) C) and E)

Question 17

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as

Accepted Answer

A)  manufacturing.
B)  retailing.
C)  wholesaling.
D)  facilitating.
E)  logistics.F) A) and D)
G) C) and E)

Question 18

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

Question 19

Which of the following statements regarding direct selling is most accurate?

Accepted Answer

A)  Unlike other forms of nonstore retailing,direct selling takes place in the business market.
B)  Direct selling is found exclusively in the United States.
C)  Direct selling succeeds because it provides customers with a social shopping experience.
D)  Direct sales have been declining rapidly in the United States since the 1980s.
E)  By definition,direct selling can only take place in a home.F) C) and D)
G) C) and E)

Question 20

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

Accepted Answer

A)  retail innovation
B)  maturity
C)  introduction
D)  early growth
E)  accelerated developmentF) B) and C)
G) A) and D)

Exam 16: Retailing and Wholesaling

A franchise where the franchiser provides a few general guidelines and more independence to the franchisee is known as a

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

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

Correct Answer
verified

Which of the following statements regarding direct selling is most accurate?

Correct Answer
verified

Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried?

Correct Answer
verified

As a franchisor,7-Eleven would assist a franchisee in selecting the store location,setting up the store,advertising,and

Correct Answer
verified

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

Correct Answer
verified

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as a(n)

Correct Answer
verified

Explain the difference between a markup,an original markup,and a maintained markup.

Correct Answer
verified
In setting prices for merchandise,retail...
View Answer

Correct Answer
verified

________ describes very dissimilar types of retail outlets that compete with each other as a result of scrambled merchandising.

Correct Answer
verified

Originally,filters for Mr.Coffee electric-drip coffeemakers were sold through appliance and mass merchandise stores.If the company decided to sell the filters in grocery stores where customers purchased their coffee,what type of intermediaries would the company most likely hire?

Correct Answer
verified

Key target markets for Mall of America are

Correct Answer
verified

A grocery manufacturer that is seeking an agent that would act on its behalf on a permanent basis and receive a commission should use a

Correct Answer
verified

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as

Correct Answer
verified

Subway restaurants that offer sandwiches made exactly to each customer's preference are providing ________ utility.

Correct Answer
verified

The variety of different items a store carries is referred to as the

Correct Answer
verified

What is off-price retailing? Identify and give an example of the three variations of off-price retailing.

Correct Answer
verified
Off-price retailing involves selling bra...
View Answer

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

Correct Answer
verified

Unlike merchant wholesalers,agents,and brokers,manufacturers' branches and sales offices are ________ that perform wholesaling activities.

Correct Answer
verified

Exam 16: Retailing and Wholesaling

A franchise where the franchiser provides a few general guidelines and more independence to the franchisee is known as a

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

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

Correct AnswerverifiedShow Answer

Which of the following statements regarding direct selling is most accurate?

Correct AnswerverifiedShow Answer

Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried?

Correct AnswerverifiedShow Answer

As a franchisor,7-Eleven would assist a franchisee in selecting the store location,setting up the store,advertising,and

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as a(n)

Correct AnswerverifiedShow Answer

Explain the difference between a markup,an original markup,and a maintained markup.

Correct AnswerverifiedIn setting prices for merchandise,retail...View AnswerShow Answer

Correct AnswerverifiedShow Answer

________ describes very dissimilar types of retail outlets that compete with each other as a result of scrambled merchandising.

Correct AnswerverifiedShow Answer

Originally,filters for Mr.Coffee electric-drip coffeemakers were sold through appliance and mass merchandise stores.If the company decided to sell the filters in grocery stores where customers purchased their coffee,what type of intermediaries would the company most likely hire?

Correct AnswerverifiedShow Answer

Key target markets for Mall of America are

Correct AnswerverifiedShow Answer

A grocery manufacturer that is seeking an agent that would act on its behalf on a permanent basis and receive a commission should use a

Correct AnswerverifiedShow Answer

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as

Correct AnswerverifiedShow Answer

Subway restaurants that offer sandwiches made exactly to each customer's preference are providing ________ utility.

Correct AnswerverifiedShow Answer

The variety of different items a store carries is referred to as the

Correct AnswerverifiedShow Answer

What is off-price retailing? Identify and give an example of the three variations of off-price retailing.

Correct AnswerverifiedOff-price retailing involves selling bra...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Unlike merchant wholesalers,agents,and brokers,manufacturers' branches and sales offices are ________ that perform wholesaling activities.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
In setting prices for merchandise,retail...
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
Off-price retailing involves selling bra...
View Answer

Correct Answer
verified

Correct Answer
verified