Question 1

The retailing mix includes all of the following except which?

Accepted Answer

A)  merchandise
B)  target market
C)  retail pricing
D)  store location
E)  retail communicationF) A) and E)
G) C) and E)

Question 2

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

Accepted Answer

A)  Payless ShoeSource
B)  Macy's department store
C)  7-Eleven convenience store
D)  Walmart
E)  Lamborghini automobile dealerF) B) and D)
G) A) and B)

Question 3

Intertype competition refers to competition between

Accepted Answer

A)  very similar types of retail outlets that results from a single-product/single-line merchandising policy.
B)  retailers when the types of items they sell are virtually indistinguishable from one another.
C)  national and generic brands that are sold side by side in a retail outlet.
D)  retailers located in separate quadrants of the retail positioning matrix.
E)  very dissimilar types of retail outlets that practice scrambled merchandising.F) B) and E)
G) A) and D)

Question 4

Intermediaries that represent a single producer and are responsible for designing promotional plans,setting prices,determining distribution policies,and making recommendations on product strategy are referred to as

Accepted Answer

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

Question 5

The largest inventory of wedding dresses in the Southeast can be found at Low's Bridal and Formal in Brinkley,Arkansas.From December 26 to January 16,a prospective bride shopping at Low's can find gowns once priced at $6,000 for $2,999 and $800 gowns for $399.The reduced prices of these gowns are reflected in which retail pricing strategy?

Accepted Answer

A)  markdowns
B)  original markups
C)  future markups
D)  inventory shrinkages
E)  net markupsF) B) and E)
G) C) and E)

Question 6

Victoria's Secret,a nationwide chain,carries great depth in women's lingerie-and almost no other products.Victoria's Secret is an example of a(n)

Accepted Answer

A)   limited-line store.
B)   single-line store.
C)   intertype outlet.
D)   general merchandise store.
E)   scrambled merchandise store.F) None of the above
G) C) and D)

Question 7

A regional shopping center refers to a

Accepted Answer

A)  retail cluster in a downtown area.
B)  retail location that typically has one primary store and about 20 to 40 smaller outlets,and serves a population base of about 100,000.
C)  cluster of stores that serves people who are within a 5- to 10-minute drive and serves a population base of under 30,000.
D)  group of 50 to 150 stores that typically attracts customers who live or work within a 5- to 10-mile range,often containing two or three anchor stores.
E)  retail cluster of stores in uptown areas.F) B) and C)
G) B) and D)

Question 8

The development of today's "smart store" includes each of the following except which?

Accepted Answer

A)  biometric scanning
B)  Internet-of-Things
C)  artificial intelligence selling
D)  wearable technology
E)  virtual realityF) C) and D)
G) B) and D)

Question 9

Franchising is attractive for the franchisee because

Accepted Answer

A)  it gives the franchisee complete control over the delivery and presentation of merchandise.
B)  the license fees paid to the franchisor are the only fees the franchisee pays.
C)  it relieves the franchisee from any company or product liabilities.
D)  it offers the franchisee the opportunity to enter into a well-known,established business where managerial advice is provided.
E)  the franchisee is completely his or her own boss.F) A) and E)
G) B) and E)

Question 10

The selling of brand name merchandise at lower than regular prices is referred to as

Accepted Answer

A)  discount pricing.
B)  everyday low price.
C)  markdown pricing.
D)  off-price retailing.
E)  loss-price leader.F) D) and E)
G) A) and D)

Question 11

Explain how the wheel of retailing works.

Accepted Answer

The wheel of retailing describes how new...

Question 12

Wholesalers that handle a limited assortment of fast-moving or perishable items that are sold for cash directly from trucks in their original packages are referred to as

Accepted Answer

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

Question 13

When developing retailing strategies,marketers develop a retailing mix,which includes

Accepted Answer

A)  products,services,promotions,and retail communication.
B)  promotions,publicity,and press releases.
C)  retail pricing,store location,retail communication,and merchandise.
D)  physical environment,people,process,and productivity.
E)  direct mail,online stores,traditional stores,and outlet stores.F) B) and E)
G) C) and D)

Question 14

Which form of retailing is Best Buy now using in airports to distribute its mobile phone and computer accessories,digital cameras,flash drives,and other consumer electronics?

Accepted Answer

A)  vending machines
B)  salespeople with mobile carts
C)  mall-scale traditional retail stores
D)  salespeople wearing Best Buy uniforms with products in backpacks
E)  freestanding kiosks staffed with knowledgeable sales personnelF) A) and C)
G) A) and B)

Question 15

Target recently introduced its Target REDcard,where cardholders receive 5 percent back for each purchase.Target also allows customers to return merchandise within 30 days but still does not offer alteration services.Target offers what level of service to its customers?

Accepted Answer

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

Question 16

Stores like Dillard's,Macy's,and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type.These retailers are known as

Accepted Answer

A)  limited-line stores.
B)  scrambled merchandise stores.
C)  hypermarkets.
D)  intertype outlets.
E)  general merchandise stores.F) A) and E)
G) None of the above

Question 17

The ________ distinguishes types of retail outlets,with independent retailers,corporate chains,or contractual systems being the three general forms.

Accepted Answer

A)  wheel of retailing
B)  service level
C)  merchandise line
D)  product assortment
E)  form of ownershipF) B) and C)
G) A) and D)

Question 18

Specialty merchandise wholesalers

Accepted Answer

A)  carry a broad assortment of merchandise and perform all channel functions.
B)  own the merchandise they sell but do not physically handle,stock,or deliver it.
C)  offer a relatively narrow range of products but have an extensive assortment within the product lines carried.
D)  work for several producers,carry noncompetitive,complementary merchandise in an exclusive territory,and use over-the-road transportation for all product deliveries.
E)  deal exclusively with small low-cost consumer goods that are distributed to a select number of large retail chains.F) A) and E)
G) A) and B)

Question 19

A retail outlet that focuses on one type of product at very competitive or discount prices and often dominates the market is referred to as a

Accepted Answer

A)  general merchandise store.
B)  value outlet.
C)  hypermarket.
D)  category killer.
E)  department store.F) All of the above
G) A) and C)

Question 20

The retail life cycle refers to

Accepted Answer

A)  the distinct stages a product goes through before it becomes obsolete.
B)  the process of growth and decline that retail outlets,like products,experience.
C)  the cycle of a customer's buying behavior from awareness of a product to its ultimate purchase.
D)  the relationship between the tangible aspects of a product and the types of services that need to accompany it.
E)  the traditional management changes that take place as a retail outlet grows.F) A) and D)
G) B) and D)

Exam 16: Retailing and Wholesaling

A regional shopping center refers to a

Correct Answer
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Correct Answer
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Stores like Dillard's,Macy's,and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type.These retailers are known as

Correct Answer
verified

Specialty merchandise wholesalers

Correct Answer
verified

The retail life cycle refers to

Correct Answer
verified

The selling of brand name merchandise at lower than regular prices is referred to as

Correct Answer
verified

The development of today's "smart store" includes each of the following except which?

Correct Answer
verified

When developing retailing strategies,marketers develop a retailing mix,which includes

Correct Answer
verified

Intertype competition refers to competition between

Correct Answer
verified

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

Correct Answer
verified

Franchising is attractive for the franchisee because

Correct Answer
verified

The retailing mix includes all of the following except which?

Correct Answer
verified

Target recently introduced its Target REDcard,where cardholders receive 5 percent back for each purchase.Target also allows customers to return merchandise within 30 days but still does not offer alteration services.Target offers what level of service to its customers?

Correct Answer
verified

Which form of retailing is Best Buy now using in airports to distribute its mobile phone and computer accessories,digital cameras,flash drives,and other consumer electronics?

Correct Answer
verified

The ________ distinguishes types of retail outlets,with independent retailers,corporate chains,or contractual systems being the three general forms.

Correct Answer
verified

Wholesalers that handle a limited assortment of fast-moving or perishable items that are sold for cash directly from trucks in their original packages are referred to as

Correct Answer
verified

Victoria's Secret,a nationwide chain,carries great depth in women's lingerie-and almost no other products.Victoria's Secret is an example of a(n)

Correct Answer
verified

Explain how the wheel of retailing works.

Correct Answer
verified
The wheel of retailing describes how new...
View Answer

A retail outlet that focuses on one type of product at very competitive or discount prices and often dominates the market is referred to as a

Correct Answer
verified

Intermediaries that represent a single producer and are responsible for designing promotional plans,setting prices,determining distribution policies,and making recommendations on product strategy are referred to as

Correct Answer
verified

Exam 16: Retailing and Wholesaling

A regional shopping center refers to a

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Stores like Dillard's,Macy's,and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type.These retailers are known as

Correct AnswerverifiedShow Answer

Specialty merchandise wholesalers

Correct AnswerverifiedShow Answer

The retail life cycle refers to

Correct AnswerverifiedShow Answer

The selling of brand name merchandise at lower than regular prices is referred to as

Correct AnswerverifiedShow Answer

The development of today's "smart store" includes each of the following except which?

Correct AnswerverifiedShow Answer

When developing retailing strategies,marketers develop a retailing mix,which includes

Correct AnswerverifiedShow Answer

Intertype competition refers to competition between

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Franchising is attractive for the franchisee because

Correct AnswerverifiedShow Answer

The retailing mix includes all of the following except which?

Correct AnswerverifiedShow Answer

Target recently introduced its Target REDcard,where cardholders receive 5 percent back for each purchase.Target also allows customers to return merchandise within 30 days but still does not offer alteration services.Target offers what level of service to its customers?

Correct AnswerverifiedShow Answer

Which form of retailing is Best Buy now using in airports to distribute its mobile phone and computer accessories,digital cameras,flash drives,and other consumer electronics?

Correct AnswerverifiedShow Answer

The ________ distinguishes types of retail outlets,with independent retailers,corporate chains,or contractual systems being the three general forms.

Correct AnswerverifiedShow Answer

Wholesalers that handle a limited assortment of fast-moving or perishable items that are sold for cash directly from trucks in their original packages are referred to as

Correct AnswerverifiedShow Answer

Victoria's Secret,a nationwide chain,carries great depth in women's lingerie-and almost no other products.Victoria's Secret is an example of a(n)

Correct AnswerverifiedShow Answer

Explain how the wheel of retailing works.

Correct AnswerverifiedThe wheel of retailing describes how new...View AnswerShow Answer

A retail outlet that focuses on one type of product at very competitive or discount prices and often dominates the market is referred to as a

Correct AnswerverifiedShow Answer

Intermediaries that represent a single producer and are responsible for designing promotional plans,setting prices,determining distribution policies,and making recommendations on product strategy are referred to as

Correct AnswerverifiedShow Answer

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Correct Answer
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Correct Answer
verified
The wheel of retailing describes how new...
View Answer

Correct Answer
verified

Correct Answer
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