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Exam 16: Retailing and Wholesaling

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Question 91

Multiple Choice

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One way neighborhood grocers can take advantage of volume discounts commonly available to corporate chains is to

A) purchase a franchise membership.
B) become a subsidiary of a larger supermarket chain such as Kroger.
C) join a professional merchant association and hire food brokers to negotiate lower prices for produce and dry goods.
D) create a grocery networking system to exchange coupon vouchers.
E) participate in a retailer-sponsored cooperative with other independent grocers.

F) All of the above
G) B) and D)

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Question 92

Multiple Choice

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Retailers that advocate an everyday fair pricing strategy may not offer the lowest prices but try to create value for customers using which of these?

A) customer service
B) product benefits
C) convenience
D) perceived quality
E) maintained price

F) A) and C)
G) A) and B)

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Question 93

Multiple Choice

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Which type of store gives shoppers the greatest variety of merchandise?

A retailer bought a collectible Precious Moments figurine for $26.She sets the initial selling price at $60.The final selling price was $52.What was the maintained markup?

Wholly owned extensions of the producer that perform wholesaling activities are referred to as

A markup refers to

What type of contractual system describes a situation in which assistance in selecting the location,setting up the store or facility,advertising,and training personnel is provided by the parent company?

At the Christmas Tree Shop,customers can shop for Christmas gifts and decor at any time of the year.What type of utility does this store provide for its customers?

Experts suggest that online retailers should think of their websites as ________ if they are to attract and retain customers.

The difference between the retailer's cost and the initial selling price is referred to as the

A central business district refers to

According to the text,________ provides third-party certification and offers guidance for retailers implementing new environmentally sound practices.

Your neighborhood dry cleaner or florist is likely to be categorized as an independent retailer.This means it is owned by a(n)

In response to the changes in the United States,many direct sellers are implementing a ________ strategy by expanding into other countries with their current product lines.

The description of how new forms of retail outlets enter the market is referred to as the

Saks Fifth Avenue is an upscale retailer that offers designer brand women's apparel,fragrances,jewelry,and leather accessories.The retailer relies on superior service to sell its products and to retain its customers.Saks Fifth Avenue would be classified as a(n)

Many fast-food retailers,including McDonald's and Burger King,have followed a predictable pattern of how new forms of retail outlets enter the marketplace.McDonald's has evolved from a relatively simple restaurant with low margins,low prices,limited product offerings,and low institutional status to a worldwide chain with higher margins,high status,and a diverse menu of products.This evolution of McDonald's restaurants is consistent with the

Level of service is used to describe the degree of service provided to the customer.Three levels of service are provided by self-,________,and full-service retailers.

All of the following are forms of nonstore retailing except which?

The wholesalers that perform all channel functions and are found in the health foods,automotive parts,and seafood industries would be