Question 1

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

Accepted Answer

A)  a limited-line store.
B)  a single-line store.
C)  an intertype outlet.
D)  a general merchandise store.
E)  a scrambled merchandise store.F) B) and E)
G) B) and C)

Question 2

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

Accepted Answer

A)  place and conformance
B)  possession and form
C)  form
D)  performance
E)  timeF) A) and B)
G) C) and D)

Question 3

Rack jobbers are wholesalers that

Accepted Answer

A)  furnish the shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.
B)  own the merchandise they sell and have retailers store it in their warehouses.
C)  own the merchandise they sell but do not physically handle, stock, or deliver it.
D)  have a small warehouse from which they stock their trucks for distribution to retailers.
E)  work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.F) A) and B)
G) B) and C)

Question 4

As a result of legislation, consumers who do not want to receive telephone calls related to company sales efforts can

Accepted Answer

A)  purchase telephones that block unwanted calls.
B)  place their telephone numbers on the National Do Not Call Registry.
C)  request phone numbers that begin with the area code 555 that automatically block telemarketing solicitors.
D)  request phone numbers that begin with the area code 888 that automatically block telemarketing solicitors.
E)  use an unlisted telephone number.F) D) and E)
G) A) and E)

Question 5

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

Accepted Answer

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

Question 6

Walmart and Home Depot emphasize consistently low prices and eliminate most markdowns with a retail pricing strategy called

Accepted Answer

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

Question 7

Located predominately in Europe, large stores (more than 200,000 square feet)  that offer thousands of different food, grocery, and general merchandise products are referred to as

Accepted Answer

A)  discount wholesalers.
B)  discount retailers.
C)  supermarkets.
D)  hypermarkets.
E)  retail cooperatives.F) C) and D)
G) A) and D)

Question 8

The retailing mix refers to the activities related to the management of and the merchandise in the store, which includes

Accepted Answer

A)  retail pricing, store location, retail communication, and merchandise.
B)  product, price, promotion, and place.
C)  the utilities of time, form, possession, and price.
D)  the colors, sizes, shapes, and point-of-purchase display locations of the store's products.
E)  selection of store location, selection of merchandise, hiring and training of employees, and promotion of both the store and products.F) C) and D)
G) D) and E)

Question 9

Store layout, colors, lighting, and music are all considered part of a store's retail

Accepted Answer

A)  sensory management plan.
B)  measurable attributes.
C)  antecedent attributes.
D)  emotive appeal.
E)  atmosphere.F) All of the above
G) A) and E)

Question 10

A customer was unable to go to the store on her own to buy gifts for the holidays. She contacted a Pampered Chef representative who came to her home, showed her not only catalogs but actual products, answered all her questions, and had all the customer's gifts sorted and delivered. This is an example of

Accepted Answer

A)  interface marketing.
B)  flex marketing.
C)  direct selling.
D)  interactive selling.
E)  responsive selling.F) None of the above
G) B) and D)

Question 11

A method of classification that describes how many different types of products a store carries and in what assortment is referred to as a

Accepted Answer

A)  product mix.
B)  service level.
C)  product variety.
D)  store composition.
E)  merchandise line.F) A) and B)
G) B) and D)

Question 12

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

Accepted Answer

A)  Consumers rarely 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 and take an excessive amount of time to process them 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) All of the above
G) B) and C)

Question 13

Central business district refers to

Accepted Answer

A)  a suburban mall that contains up to 100 stores and draws customer from 5 to 10 miles away.
B)  the oldest retailing setting, located in a community's downtown area.
C)  a retail location that typically has one primary store and about 20 to 40 smaller outlets, and serves a population base of about 100,000.
D)  a cluster of stores that serves people who are within a 5- to 10-minute drive and serves a population base of under 30,000.
E)  a collection of large stores over 100,000 square feet that offers a mix of about 40 percent food products and 60 percent general merchandise items.F) None of the above
G) A) and E)

Question 14

Independently owned stores that band together to act like a chain are referred to as

Accepted Answer

A)  corporate chains.
B)  cooperative marketing systems.
C)  contractual systems.
D)  regional shopping centers.
E)  self-service systems.F) C) and D)
G) B) and C)

Question 15

Retailing is an important marketing activity. Not only do producers and consumers meet through retailing actions, but retailing also creates

Accepted Answer

A)  the nation's largest source of tax revenues.
B)  the largest source of charitable contributions.
C)  limited utilities for consumers.
D)  customer value.
E)  a sense of community.F) B) and C)
G) B) and E)

Question 16

According to the Direct Marketing Association, annual telemarketing sales exceed

Accepted Answer

A)  $103 billion.
B)  $280 billion.
C)  $137 billion.
D)  $332 billion.
E)  $500 billion.F) B) and D)
G) D) and E)

Question 17

An IKEA mail order catalog is an example of __________ retailing.

Accepted Answer

A)  intrusive
B)  intertype
C)  scrambled
D)  nonstore
E)  hypermarketF) A) and B)
G) A) and C)

Question 18

Vending machines are an example of

Accepted Answer

A)  hypermarkets.
B)  direct mail.
C)  scrambled merchandising.
D)  intertype competition.
E)  nonstore retailing.F) A) and B)
G) C) and E)

Question 19

The horizontal dimension of the retail positioning matrix is

Accepted Answer

A)  depth of product line.
B)  value added.
C)  relative market share.
D)  breadth of product line.
E)  stage in the retail life cycle.F) A) and B)
G) B) and E)

Question 20

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

Exam 16: Retailing and Wholesaling

Located predominately in Europe, large stores (more than 200,000 square feet) that offer thousands of different food, grocery, and general merchandise products are referred to as

Correct Answer
verified

Central business district refers to

Correct Answer
verified

Store layout, colors, lighting, and music are all considered part of a store's retail

Correct Answer
verified

Walmart and Home Depot emphasize consistently low prices and eliminate most markdowns with a retail pricing strategy called

Correct Answer
verified

An IKEA mail order catalog is an example of __________ retailing.

Correct Answer
verified

Correct Answer
verified

The horizontal dimension of the retail positioning matrix is

Correct Answer
verified

Retailing is an important marketing activity. Not only do producers and consumers meet through retailing actions, but retailing also creates

Correct Answer
verified

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

Correct Answer
verified

Vending machines are an example of

Correct Answer
verified

A method of classification that describes how many different types of products a store carries and in what assortment is referred to as a

Correct Answer
verified

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

Correct Answer
verified

The retailing mix refers to the activities related to the management of and the merchandise in the store, which includes

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

Correct Answer
verified

Rack jobbers are wholesalers that

Correct Answer
verified

As a result of legislation, consumers who do not want to receive telephone calls related to company sales efforts can

Correct Answer
verified

According to the Direct Marketing Association, annual telemarketing sales exceed

Correct Answer
verified

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

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

Independently owned stores that band together to act like a chain are referred to as

Correct Answer
verified

Exam 16: Retailing and Wholesaling

Located predominately in Europe, large stores (more than 200,000 square feet) that offer thousands of different food, grocery, and general merchandise products are referred to as

Correct AnswerverifiedShow Answer

Central business district refers to

Correct AnswerverifiedShow Answer

Store layout, colors, lighting, and music are all considered part of a store's retail

Correct AnswerverifiedShow Answer

Walmart and Home Depot emphasize consistently low prices and eliminate most markdowns with a retail pricing strategy called

Correct AnswerverifiedShow Answer

An IKEA mail order catalog is an example of __________ retailing.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The horizontal dimension of the retail positioning matrix is

Correct AnswerverifiedShow Answer

Retailing is an important marketing activity. Not only do producers and consumers meet through retailing actions, but retailing also creates

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Vending machines are an example of

Correct AnswerverifiedShow Answer

A method of classification that describes how many different types of products a store carries and in what assortment is referred to as a

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The retailing mix refers to the activities related to the management of and the merchandise in the store, which includes

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

Correct AnswerverifiedShow Answer

Rack jobbers are wholesalers that

Correct AnswerverifiedShow Answer

As a result of legislation, consumers who do not want to receive telephone calls related to company sales efforts can

Correct AnswerverifiedShow Answer

According to the Direct Marketing Association, annual telemarketing sales exceed

Correct AnswerverifiedShow Answer

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

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

Independently owned stores that band together to act like a chain are referred to as

Correct AnswerverifiedShow Answer

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