Question 1

Markdowns can be used to

Accepted Answer

A)  increase competition with other retailers in the immediate vicinity.
B)  placate dissatisfied customers.
C)  enhance customer perceptions of product quality.
D)  increase demand for complementary products.
E)  create a sense of urgency among repeat buyers.F) B) and E)
G) C) and D)

Question 2

When considering the use of everyday low pricing,one should consider the impact on ________ because of EDLP's potential to affect product quality assessments.

Accepted Answer

A)  competitors' promotional strategies
B)  product benefits
C)  convenience
D)  maintained price
E)  brand name and store imageF) C) and D)
G) A) and B)

Question 3

Merchants such as Burlington Coat Factory sell brand-name merchandise at lower than regular prices.This means that it is using a(n)

Accepted Answer

A)   off-price retailing strategy.
B)   markdown pricing strategy.
C)   everyday fair pricing strategy.
D)   everyday low pricing strategy.
E)   maintained markdown pricing strategy.F) A) and B)
G) None of the above

Question 4

The key goal for retailers in the accelerated development phase of the retail life cycle is to

Accepted Answer

A)  recover start-up costs.
B)  establish a dominant position in the fight for market share.
C)  delay entering the decline stage of the retail life cycle.
D)  find ways of discouraging customers from moving to low-margin,mass-volume outlets.
E)  establish a retail concept that is a sharp departure from existing competition.F) All of the above
G) A) and C)

Question 5

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

Question 6

What is the retailing mix?

Accepted Answer

In developing retailing strategy,manager...

Question 7

A wholesaler that carries a narrow range of products and performs all channel functions is referred to as a

Accepted Answer

A)  general merchandise wholesaler.
B)  truck jobber.
C)  specialty merchandise wholesaler.
D)  rack jobber.
E)  drop shipper.F) C) and E)
G) B) and D)

Question 8

The two general types of franchises are

Accepted Answer

A)  product-format franchises and distribution franchises.
B)  business-format franchises and manufacturing franchises.
C)  venture franchises and general service franchises.
D)  manufacturing franchises and venture franchises.
E)  business-format franchises and product-distribution franchises.F) None of the above
G) A) and B)

Question 9

Which of the following statements regarding retail pricing is most accurate?

Accepted Answer

A)  Consumers are unable to base their perceptions of a store's prices on a price of a benchmark item in the store.
B)  Consumers are influenced more by a store's ambience than its prices.
C)  Stores that offer rebates with long processing times may create negative consumer perceptions.
D)  New technology has almost made shoplifting a thing of the past.
E)  The only difference between everyday low pricing and everyday fair pricing is whether the store uses markups.F) B) and E)
G) C) and E)

Question 10

Wells Fargo is one of the best-run banks in the United States.It reaches retail customers through 8,600 stores,a worldwide network of 13,000 ATMs,and its online banking service.Which utility does Wells Fargo best provide?

Accepted Answer

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

Question 11

Retail outlets vary by their merchandise lines,the key distinction being the ________ of the items offered to customers.

Accepted Answer

A)  scope and span
B)  breadth and depth
C)  breadth and inventory
D)  scope and inventory
E)  range and spanF) A) and B)
G) A) and E)

Question 12

All of the following are characteristics of warehouse clubs except which?

Accepted Answer

A)  Customers are attracted by the ultra-low prices and surprise deals on selected merchandise.
B)  The stores are used to clear excess merchandise.
C)  Customers must pay an annual membership fee.
D)  The stores carry 3,700 to 8,000 items.
E)  The stores are rather stark outlets with no elaborate displays.F) B) and D)
G) B) and E)

Question 13

The battle for market share is usually fought directly before the ________ stage,and some competitors drop out of the market.

Accepted Answer

A)  decline
B)  growth
C)  maturity
D)  harvest
E)  introduction phaseF) A) and B)
G) B) and D)

Question 14

As part of their regular retail pricing strategy,some retailers will emphasize consistently low prices and eliminate most markdowns.This practice is referred to as

Accepted Answer

A)  everyday low pricing.
B)  low-margin pricing.
C)  everyday fair pricing.
D)  value-based pricing.
E)  maintained pricing.F) B) and E)
G) A) and B)

Question 15

Loblaws,a Canadian supermarket,features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix,this tactic is related to

Accepted Answer

A)  pricing.
B)  goods and services factor.
C)  communication.
D)  merchandise.
E)  location.F) C) and D)
G) D) and E)

Question 16

Prices in vending machines tend to be higher because

Accepted Answer

A)  machines are placed in low-demand traffic areas.
B)  maintenance,operating,and leasing costs are high.
C)  only small unit volume items are sold.
D)  customary pricing requires certain coin and currency amounts regardless of the normal retailer markup.
E)  few people buy from vending machines.F) A) and E)
G) B) and D)

Question 17

The marketing managers at Omaha Steaks used airlines' databases to mail a special offer to frequent flyers.Eight weeks after shipping the steaks to the frequent flyers who responded to the offer,the company's salespeople followed up by telephoning customers to ask for new orders.This is an example of which types of nonstore retailing?

Accepted Answer

A)  direct selling and telemarketing
B)  direct mail and telemarketing
C)  telemarketing and online retailing
D)  online retailing and direct mail
E)  direct mail and direct sellingF) A) and C)
G) B) and C)

Question 18

The three basic types of contractual systems are

Accepted Answer

A)  retailer-sponsored cooperatives,wholesaler-sponsored voluntary chains,and franchises.
B)  dual ownership agreements,industry consortiums,and nonbinding cooperatives.
C)  wholesaler-sponsored voluntary chains,nonbinding cooperatives,and franchises.
D)  dual ownership agreements,industry consortiums,and multinational cartels.
E)  nonbinding,binding,and in perpetuity.F) All of the above
G) A) and E)

Question 19

Aeon,Carrefour,Tesco,and Metro Group are

Accepted Answer

A)  sizable wholesalers that handle products for the world's largest retailers.
B)  new Internet start-ups that have the potential to impact the U.S.economy.
C)  large retailers outside of the United States.
D)  large distributors of business products.
E)  historic companies that developed consumer selling systems,though none of them exist today.F) A) and E)
G) C) and E)

Question 20

A ________ most likely would use truck jobbers to distribute its products.

Accepted Answer

A)  clothing manufacturer
B)  manufacturer of electric generators
C)  leather goods importer
D)  pharmaceutical company
E)  meat processing plantF) A) and B)
G) C) and D)

Exam 16: Retailing and Wholesaling

A wholesaler that carries a narrow range of products and performs all channel functions is referred to as a

Correct Answer
verified

All of the following are characteristics of warehouse clubs except which?

Correct Answer
verified

Aeon,Carrefour,Tesco,and Metro Group are

Correct Answer
verified

What is the retailing mix?

Correct Answer
verified
In developing retailing strategy,manager...
View Answer

The two general types of franchises are

Correct Answer
verified

Loblaws,a Canadian supermarket,features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix,this tactic is related to

Correct Answer
verified

A ________ most likely would use truck jobbers to distribute its products.

Correct Answer
verified

The three basic types of contractual systems are

Correct Answer
verified

As part of their regular retail pricing strategy,some retailers will emphasize consistently low prices and eliminate most markdowns.This practice is referred to as

Correct Answer
verified

Retail outlets vary by their merchandise lines,the key distinction being the ________ of the items offered to customers.

Correct Answer
verified

Markdowns can be used to

Correct Answer
verified

Wells Fargo is one of the best-run banks in the United States.It reaches retail customers through 8,600 stores,a worldwide network of 13,000 ATMs,and its online banking service.Which utility does Wells Fargo best provide?

Correct Answer
verified

The battle for market share is usually fought directly before the ________ stage,and some competitors drop out of the market.

Correct Answer
verified

Merchants such as Burlington Coat Factory sell brand-name merchandise at lower than regular prices.This means that it is using a(n)

Correct Answer
verified

The key goal for retailers in the accelerated development phase of the retail life cycle is to

Correct Answer
verified

Correct Answer
verified

Prices in vending machines tend to be higher because

Correct Answer
verified

Which of the following statements regarding retail pricing is most accurate?

Correct Answer
verified

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

Correct Answer
verified

When considering the use of everyday low pricing,one should consider the impact on ________ because of EDLP's potential to affect product quality assessments.

Correct Answer
verified

Exam 16: Retailing and Wholesaling

A wholesaler that carries a narrow range of products and performs all channel functions is referred to as a

Correct AnswerverifiedShow Answer

All of the following are characteristics of warehouse clubs except which?

Correct AnswerverifiedShow Answer

Aeon,Carrefour,Tesco,and Metro Group are

Correct AnswerverifiedShow Answer

What is the retailing mix?

Correct AnswerverifiedIn developing retailing strategy,manager...View AnswerShow Answer

The two general types of franchises are

Correct AnswerverifiedShow Answer

Loblaws,a Canadian supermarket,features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix,this tactic is related to

Correct AnswerverifiedShow Answer

A ________ most likely would use truck jobbers to distribute its products.

Correct AnswerverifiedShow Answer

The three basic types of contractual systems are

Correct AnswerverifiedShow Answer

As part of their regular retail pricing strategy,some retailers will emphasize consistently low prices and eliminate most markdowns.This practice is referred to as

Correct AnswerverifiedShow Answer

Retail outlets vary by their merchandise lines,the key distinction being the ________ of the items offered to customers.

Correct AnswerverifiedShow Answer

Markdowns can be used to

Correct AnswerverifiedShow Answer

Wells Fargo is one of the best-run banks in the United States.It reaches retail customers through 8,600 stores,a worldwide network of 13,000 ATMs,and its online banking service.Which utility does Wells Fargo best provide?

Correct AnswerverifiedShow Answer

The battle for market share is usually fought directly before the ________ stage,and some competitors drop out of the market.

Correct AnswerverifiedShow Answer

Merchants such as Burlington Coat Factory sell brand-name merchandise at lower than regular prices.This means that it is using a(n)

Correct AnswerverifiedShow Answer

The key goal for retailers in the accelerated development phase of the retail life cycle is to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Prices in vending machines tend to be higher because

Correct AnswerverifiedShow Answer

Which of the following statements regarding retail pricing is most accurate?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When considering the use of everyday low pricing,one should consider the impact on ________ because of EDLP's potential to affect product quality assessments.

Correct AnswerverifiedShow Answer

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In developing retailing strategy,manager...
View Answer

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