Question 1

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

Question 2

Which of the following is a type of full-service merchant wholesaler?

Accepted Answer

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

Question 3

The marketing metrics related to a retailer's customers include all of the following except

Accepted Answer

A)  the number of customers per day or per hour.
B)  the average length of a store visit.
C)  the turnover of inventory.
D)  the average transaction size per customer.
E)  the number of transactions per customer.F) B) and E)
G) A) and C)

Question 4

In __________, an individual or firm contracts with a parent company to set up a business or retail outlet.

Accepted Answer

A)  an administered system
B)  a vertically integrated chain
C)  a retail-sponsored cooperative
D)  a franchise system
E)  a corporate systemF) A) and E)
G) A) and D)

Question 5

Which of the following is a type of full-service merchant wholesaler?

Accepted Answer

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

Question 6

Specialty discount stores that dominate the market are referred to as

Accepted Answer

A)  hypermarkets.
B)  category killers.
C)  value outlets.
D)  regional dominators.
E)  focused merchandise stores.F) B) and D)
G) A) and B)

Question 7

Most stores today are near several others in one of five settings: the central business district, the regional center, the community shopping center, the strip mall, or the

Accepted Answer

A)  rural micromall.
B)  urban megacenter.
C)  power center.
D)  exurb value center.
E)  suburban downtown.F) B) and E)
G) All of the above

Question 8

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as

Accepted Answer

A)  brokers.
B)  line brokers.
C)  selling agents.
D)  distribution brokers.
E)  manufacturers' agents.F) All of the above
G) C) and E)

Question 9

Explain the difference between breadth of line and depth of line. Be sure to include the definition of scrambled merchandising in your explanation.

Accepted Answer

Breadth of line means the store carries ...

Question 10

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

Question 11

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

Accepted Answer

A)  markup.
B)  maintained markup.
C)  markdown.
D)  differential markup.
E)  original markup.F) B) and E)
G) All of the above

Question 12

Both market share and profit achieve their greatest growth rates during which stage of the retail life cycle?

Accepted Answer

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

Question 13

CarMax dealers have adopted a "no-hassle, no-haggle" sales policy that eliminates the need for negotiating. Instead, all customers are offered the same price. Test drives, financing, trade-ins, and leasing are all offered to encourage customers to purchase a car. Which utility does CarMax best provide?

Accepted Answer

A)  product
B)  form
C)  convenience
D)  service
E)  possessionF) A) and D)
G) A) and E)

Question 14

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?

Accepted Answer

A)  $112
B)  $52
C)  $26
D)  $34
E)  $86F) A) and E)
G) C) and E)

Question 15

Wholesalers that simply solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer are referred to as

Accepted Answer

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

Question 16

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

Accepted Answer

A)  an individual.
B)  a conglomerate.
C)  a consortium.
D)  a chain.
E)  a cooperative.F) B) and E)
G) A) and C)

Question 17

Identify and describe the functions of agents and brokers.

Accepted Answer

Agents and brokers do not take title to ...

Question 18

In direct-mail and catalog retailing, the "P" in the acronym PURL stands for

Accepted Answer

A)  personalized.
B)  presorted.
C)  preloaded.
D)  proactive.
E)  portable.F) A) and B)
G) D) and E)

Question 19

Direct-mail and catalog retailing are examples of

Accepted Answer

A)  nonstore retailing.
B)  intertype retailing.
C)  online retailing.
D)  print-media retailing.
E)  dual retailing.F) A) and B)
G) None of the above

Question 20

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

Accepted Answer

A)  a hypermarket
B)  a specialty clothing store
C)  a limited-line gift store
D)  a clothing outlet
E)  a discount storeF) C) and D)
G) A) and C)

Exam 16: Retailing and Wholesaling

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as

Correct Answer
verified

Which of the following is a type of full-service merchant wholesaler?

Correct Answer
verified

Which of the following is a type of full-service merchant wholesaler?

Correct Answer
verified

Franchising is attractive for the franchisee because

Correct Answer
verified

In direct-mail and catalog retailing, the "P" in the acronym PURL stands for

Correct Answer
verified

The marketing metrics related to a retailer's customers include all of the following except

Correct Answer
verified

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

Correct Answer
verified

Both market share and profit achieve their greatest growth rates during which stage of the retail life cycle?

Correct Answer
verified

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

Correct Answer
verified

Direct-mail and catalog retailing are examples of

Correct Answer
verified

Specialty discount stores that dominate the market are referred to as

Correct Answer
verified

Identify and describe the functions of agents and brokers.

Correct Answer
verified
Agents and brokers do not take title to ...
View Answer

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?

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

In __________, an individual or firm contracts with a parent company to set up a business or retail outlet.

Correct Answer
verified

Wholesalers that simply solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer are referred to as

Correct Answer
verified

Explain the difference between breadth of line and depth of line. Be sure to include the definition of scrambled merchandising in your explanation.

Correct Answer
verified
Breadth of line means the store carries ...
View Answer

Most stores today are near several others in one of five settings: the central business district, the regional center, the community shopping center, the strip mall, or the

Correct Answer
verified

Exam 16: Retailing and Wholesaling

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as

Correct AnswerverifiedShow Answer

Which of the following is a type of full-service merchant wholesaler?

Correct AnswerverifiedShow Answer

Which of the following is a type of full-service merchant wholesaler?

Correct AnswerverifiedShow Answer

Franchising is attractive for the franchisee because

Correct AnswerverifiedShow Answer

In direct-mail and catalog retailing, the "P" in the acronym PURL stands for

Correct AnswerverifiedShow Answer

The marketing metrics related to a retailer's customers include all of the following except

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Both market share and profit achieve their greatest growth rates during which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Direct-mail and catalog retailing are examples of

Correct AnswerverifiedShow Answer

Specialty discount stores that dominate the market are referred to as

Correct AnswerverifiedShow Answer

Identify and describe the functions of agents and brokers.

Correct AnswerverifiedAgents and brokers do not take title to ...View AnswerShow Answer

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?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In __________, an individual or firm contracts with a parent company to set up a business or retail outlet.

Correct AnswerverifiedShow Answer

Wholesalers that simply solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer are referred to as

Correct AnswerverifiedShow Answer

Explain the difference between breadth of line and depth of line. Be sure to include the definition of scrambled merchandising in your explanation.

Correct AnswerverifiedBreadth of line means the store carries ...View AnswerShow Answer

Most stores today are near several others in one of five settings: the central business district, the regional center, the community shopping center, the strip mall, or the

Correct AnswerverifiedShow Answer

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verified
Agents and brokers do not take title to ...
View Answer

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Correct Answer
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Correct Answer
verified
Breadth of line means the store carries ...
View Answer

Correct Answer
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