Question 1

Merchant wholesalers are independently owned firms that ________ the merchandise they handle.

Accepted Answer

A)  take title to
B)  broker
C)  act as agents for
D)  break bulk and repackage
E)  do not deliverF) B) and C)
G) B) and D)

Question 2

Godiva Chocolatier invites consumers to stop by one of its stores for an unforgettable experience,including delectable chocolates,decorative gift collections,and unrivaled customer care.What type of retail service is Godiva offering?

Accepted Answer

A)  full service
B)  limited service
C)  self-service
D)  restricted service
E)  functional serviceF) B) and D)
G) All of the above

Question 3

Sales of goods and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as direct selling,or

Accepted Answer

A)  person-to-person sales.
B)  interactive selling.
C)  door-to-door retailing.
D)  individual promotion.
E)  customized selling.F) None of the above
G) B) and D)

Question 4

Jane Westerlund owns a small retail picture frame store in a local strip mall.She just bought 10 picture frames from a promising woodworker for $36 each.Based on market conditions,she will sell these for $100 each.Recently,however,sales have been a bit slow.Jane decides to reduce the price for the frames to $80.What is her maintained markup in dollar terms?

Accepted Answer

A)  $100
B)  $20
C)  $44
D)  $64
E)  $0F) A) and B)
G) B) and D)

Question 5

Figure 16-10
 
-According to Figure 16-10 above,Stage A represents which stage of the retail life cycle?

Accepted Answer

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

Question 6

When retailers set prices on new models or styles of products,the price of existing models often is ________ to quickly sell them.

Accepted Answer

A)  benchmarked
B)  off-priced
C)  value-added
D)  marked down
E)  maintainedF) A) and B)
G) A) and C)

Question 7

Impressions of the corporation that operates the store,the category or type of store,the product categories in the store,the brands in each category,merchandise and service quality,and the marketing activities of the store all contribute to a retail store's

Accepted Answer

A)  prices.
B)  image.
C)  emotive appeal.
D)  name.
E)  measurable attributes.F) B) and E)
G) A) and C)

Question 8

Describe the retail life cycle.

Accepted Answer

The retail life cycle describes the proc...

Question 9

A huge shopping strip with multiple anchor (or national) stores is referred to as a

Accepted Answer

A)  central business district.
B)  regional shopping center.
C)  community shopping center.
D)  strip mall.
E)  power center.F) B) and D)
G) A) and E)

Question 10

Franchising is a type of

Accepted Answer

A)  administered system.
B)  contractual system.
C)  vertically integrated chain.
D)  retail-sponsored cooperative.
E)  corporate system.F) C) and D)
G) A) and E)

Question 11

Retailing that occurs outside a retail outlet,such as through direct marketing,direct selling,and automatic vending,is referred to as

Accepted Answer

A)  limited-line retailing.
B)  nonstore retailing.
C)  scrambled merchandising.
D)  a hypermarket.
E)  intertype competition.F) A) and E)
G) C) and D)

Question 12

Selling on consignment to retailers,which means they retain the title to the products displayed and bill retailers only for the merchandise sold,is characteristic of which limited-service wholesaler?

Accepted Answer

A)  truck jobbers
B)  transport vendors
C)  rack jobbers
D)  cash and carry wholesalers
E)  drop shippersF) A) and C)
G) A) and B)

Question 13

Using the telephone to interact with and sell directly to consumers is referred to as

Accepted Answer

A)  digital marketing.
B)  telemarketing.
C)  solicitation marketing.
D)  telecommerce.
E)  direct selling.F) C) and D)
G) A) and B)

Question 14

One of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the website

Accepted Answer

A)  because of slow download times.
B)  to compare shipping costs and prices on other sites.
C)  because of security fears when entering credit card information.
D)  due to the inability to experience the product in person.
E)  over dissatisfaction with product availability.F) A) and E)
G) D) and E)

Question 15

Coal,lumber,and chemicals,which are sold in extremely large quantities,are traditionally sold by which type of wholesaler?

Accepted Answer

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

Question 16

The level of service that requires the customers themselves perform many functions during the purchase process is

Accepted Answer

A)  full-service.
B)  limited-service.
C)  self-service.
D)  customized-service.
E)  automated-service.F) B) and E)
G) A) and E)

Question 17

Walmart's $485 billion in sales in 2016 surpassed the gross domestic product of all but ________ countries for that same year.

Accepted Answer

A)  5
B)  12
C)  18
D)  22
E)  34F) A) and B)
G) A) and C)

Question 18

What is the value of retailing for consumers and the economy?

Accepted Answer

Retailing is an important marketing acti...

Question 19

Figure 16-9
 
-According to Figure 16-9 above,if D represents the entry of new forms of the outlet into categories where older ones exist,where would you typically find the highest prices,margins,and status?

Accepted Answer

A)  A
B)  B
C)  C
D)  D
E)  A & DF) None of the above
G) B) and D)

Question 20

The value added dimension of the retail positioning matrix includes elements such as product reliability,prestige,and

Accepted Answer

A)  level of service.
B)  market share.
C)  location.
D)  price.
E)  number of employees.F) A) and E)
G) All of the above

Exam 16: Retailing and Wholesaling

Sales of goods and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as direct selling,or

Correct Answer
verified

Retailing that occurs outside a retail outlet,such as through direct marketing,direct selling,and automatic vending,is referred to as

Correct Answer
verified

One of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the website

Correct Answer
verified

When retailers set prices on new models or styles of products,the price of existing models often is ________ to quickly sell them.

Correct Answer
verified

Coal,lumber,and chemicals,which are sold in extremely large quantities,are traditionally sold by which type of wholesaler?

Correct Answer
verified

Using the telephone to interact with and sell directly to consumers is referred to as

Correct Answer
verified

Impressions of the corporation that operates the store,the category or type of store,the product categories in the store,the brands in each category,merchandise and service quality,and the marketing activities of the store all contribute to a retail store's

Correct Answer
verified

A huge shopping strip with multiple anchor (or national) stores is referred to as a

Correct Answer
verified

The level of service that requires the customers themselves perform many functions during the purchase process is

Correct Answer
verified

Selling on consignment to retailers,which means they retain the title to the products displayed and bill retailers only for the merchandise sold,is characteristic of which limited-service wholesaler?

Correct Answer
verified

Figure 16-9 -According to Figure 16-9 above,if D represents the entry of new forms of the outlet into categories where older ones exist,where would you typically find the highest prices,margins,and status?

Correct Answer
verified

Franchising is a type of

Correct Answer
verified

Godiva Chocolatier invites consumers to stop by one of its stores for an unforgettable experience,including delectable chocolates,decorative gift collections,and unrivaled customer care.What type of retail service is Godiva offering?

Correct Answer
verified

Walmart's $485 billion in sales in 2016 surpassed the gross domestic product of all but ________ countries for that same year.

Correct Answer
verified

What is the value of retailing for consumers and the economy?

Correct Answer
verified
Retailing is an important marketing acti...
View Answer

Correct Answer
verified

Describe the retail life cycle.

Correct Answer
verified
The retail life cycle describes the proc...
View Answer

The value added dimension of the retail positioning matrix includes elements such as product reliability,prestige,and

Correct Answer
verified

Merchant wholesalers are independently owned firms that ________ the merchandise they handle.

Correct Answer
verified

Figure 16-10 -According to Figure 16-10 above,Stage A represents which stage of the retail life cycle?

Correct Answer
verified

Exam 16: Retailing and Wholesaling

Sales of goods and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as direct selling,or

Correct AnswerverifiedShow Answer

Retailing that occurs outside a retail outlet,such as through direct marketing,direct selling,and automatic vending,is referred to as

Correct AnswerverifiedShow Answer

One of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the website

Correct AnswerverifiedShow Answer

When retailers set prices on new models or styles of products,the price of existing models often is ________ to quickly sell them.

Correct AnswerverifiedShow Answer

Coal,lumber,and chemicals,which are sold in extremely large quantities,are traditionally sold by which type of wholesaler?

Correct AnswerverifiedShow Answer

Using the telephone to interact with and sell directly to consumers is referred to as

Correct AnswerverifiedShow Answer

Impressions of the corporation that operates the store,the category or type of store,the product categories in the store,the brands in each category,merchandise and service quality,and the marketing activities of the store all contribute to a retail store's

Correct AnswerverifiedShow Answer

A huge shopping strip with multiple anchor (or national) stores is referred to as a

Correct AnswerverifiedShow Answer

The level of service that requires the customers themselves perform many functions during the purchase process is

Correct AnswerverifiedShow Answer

Selling on consignment to retailers,which means they retain the title to the products displayed and bill retailers only for the merchandise sold,is characteristic of which limited-service wholesaler?

Correct AnswerverifiedShow Answer

Figure 16-9 -According to Figure 16-9 above,if D represents the entry of new forms of the outlet into categories where older ones exist,where would you typically find the highest prices,margins,and status?

Correct AnswerverifiedShow Answer

Franchising is a type of

Correct AnswerverifiedShow Answer

Godiva Chocolatier invites consumers to stop by one of its stores for an unforgettable experience,including delectable chocolates,decorative gift collections,and unrivaled customer care.What type of retail service is Godiva offering?

Correct AnswerverifiedShow Answer

Walmart's $485 billion in sales in 2016 surpassed the gross domestic product of all but ________ countries for that same year.

Correct AnswerverifiedShow Answer

What is the value of retailing for consumers and the economy?

Correct AnswerverifiedRetailing is an important marketing acti...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Describe the retail life cycle.

Correct AnswerverifiedThe retail life cycle describes the proc...View AnswerShow Answer

The value added dimension of the retail positioning matrix includes elements such as product reliability,prestige,and

Correct AnswerverifiedShow Answer

Merchant wholesalers are independently owned firms that ________ the merchandise they handle.

Correct AnswerverifiedShow Answer

Figure 16-10 -According to Figure 16-10 above,Stage A represents which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

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verified
Retailing is an important marketing acti...
View Answer

Correct Answer
verified

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verified
The retail life cycle describes the proc...
View Answer

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verified

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Correct Answer
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