Question 1

Key target markets for Mall of America are

Accepted Answer

A)   the interstate market and discount shoppers.
B)   shoppers who seek mainstream experiences and bargain hunters.
C)   large numbers of similar retailers to maintain a consistent retail profile.
D)   budget-conscious travelers and time-poor shoppers.
E)   the local market and tourists.F) All of the above
G) A) and B)

Question 2

Unlike merchant wholesalers,agents,and brokers,manufacturers' branches and sales offices are __________ that perform wholesaling activities.

Accepted Answer

A)   independent distribution managers
B)   independent intermediary channels
C)   wholly owned extensions of the producer
D)   wholly owned extensions of the distributor
E)   wholly owned extensions of the retailerF) A) and B)
G) A) and C)

Question 3

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

Question 4

Vending machines are no longer limited by the need for cash.In Japan,South Korea,and the Philippines,consumers use mobile phones that transmit payments to vending machines wirelessly.This is an example of how vending machines can provide which type of utility?

Accepted Answer

A)   time
B)   place
C)   possession
D)   product
E)   formF) None of the above
G) A) and D)

Question 5

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) None of the above

Question 6

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?

Accepted Answer

A)   brand name of the product
B)   product benefits
C)   convenience
D)   perceived quality
E)   the total buying experienceF) A) and B)
G) None of the above

Question 7

Retail outlets,like products,experience the process of growth and decline,which is referred to as the

Accepted Answer

A)   retail life cycle.
B)   wheel of retailing.
C)   product life cycle.
D)   retail continuum.
E)   retail life matrix.F) A) and D)
G) B) and D)

Question 8

Data analytics benefits retailers by accurately predicting changes in the external environment.

Accepted Answer

A)   accurately predicting changes in the external environment.
B)   allowing merchants to provide personalized, real-time messaging and promotions.
C)   eliminating the need for wholesaling and the associated markups that raise prices.
D)   shortening the retail life cycle.
E)   improving sales per square foot or same-store sales growth by providing access to alternate channels.F) All of the above
G) B) and E)

Question 9

Which type of outlet is most likely in its accelerated development stage of the retail life cycle?

Accepted Answer

A)   single-price stores
B)   online retailers
C)   supermarkets
D)   business-district retailers
E)   convenience storesF) D) and E)
G) A) and E)

Question 10

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

Accepted Answer

A)   original markup.
B)   maintained markup.
C)   markdown.
D)   differential markup.
E)   discounted price.F) A) and E)
G) None of the above

Question 11

To increase the demand for complementary products,the price of a product often is

Accepted Answer

A)   marked up.
B)   marked down.
C)   off-priced.
D)   value-subtracted.
E)   maintained.F) A) and B)
G) A) and C)

Question 12

Which type of outlet is most likely in its early growth stage of the retail life cycle?

Accepted Answer

A)   single-price stores
B)   online retailers
C)   supermarkets
D)   catalog retailers
E)   general storesF) B) and D)
G) A) and B)

Question 13

Outlets such as Checkers Drive-In Restaurants typically enter the wheel of retailing with

Accepted Answer

A)   limited menus and limited service.
B)   extensive menus and expansive service.
C)   extensive menus and self-service.
D)   high prices and novel menu items.
E)   high prices and expansive service.F) A) and D)
G) None of the above

Question 14

Cash and carry wholesalers

Accepted Answer

A)   handle bulky items such as lumber, bricks, and telephone poles.
B)   handle perishable items such as flowers, baked goods, and deli meats.
C)   handle office supplies, electrical supplies, hardware products, and groceries.
D)   are a kind of full-service wholesaler.
E)   lease vending machines to merchants and refill them as needed on a cash only basis.F) A) and C)
G) A) and E)

Question 15

Enterprise car rental agency differentiates itself from other similar agencies by providing a delivery service.This delivery service is particularly valuable to someone who has been left stranded without transportation.By making it easy to rent temporary transportation,Enterprise is emphasizing which utility?

Accepted Answer

A)   form
B)   product
C)   service
D)   possession
E)   convenienceF) B) and E)
G) B) and D)

Question 16

Online retailing has evolved to include social shopping options like intermediaries (Groupon) ,marketplaces (Google Offer) ,and __________ (Yipit) .

Accepted Answer

A)   swap meets
B)   aggregators
C)   flash mobs
D)   showroomers
E)   arbitratorsF) C) and D)
G) A) and D)

Question 17

A strip mall is a

Accepted Answer

A)   suburban mall containing up to 100 stores that draws customer from a 5- to 10-mile radius.
B)   cluster of stores in a downtown area.
C)   retail location that typically has one primary store (usually a department store branch)  with 20 to 40 smaller outlets serving a population of consumers who are within a 10- to 20-minute drive.
D)   cluster of neighborhood stores designed to serve people within a 5- to 10-minute drive.
E)   collection of category killers usually located outside a major amusement park or attraction.F) B) and E)
G) A) and E)

Question 18

Bakery items,dairy products,and meat that are sold for cash in their original packages are traditionally sold by which type of wholesaler?

Accepted Answer

A)   rack jobbers
B)   drop shippers
C)   cash and carry wholesalers
D)   truck jobbers
E)   general merchandise wholesalersF) C) and D)
G) A) and E)

Question 19

The use of specialty catalogs from firms such as IKEA,Crate and Barrel,and L.L.Bean have been affected by all of the following factors except which?

Accepted Answer

A)   the possibility of the U.S. Postal Service reducing delivery to five days a week
B)   higher paper costs, an increase in postage rates, and the possibility of the U.S. Postal Service reducing delivery to five days a week
C)   the growing interest in do-not-mail legislation
D)   the concern for "green" mailings and catalogs
E)   the growing influence of television home shoppingF) C) and E)
G) B) and D)

Question 20

Drop shippers

Accepted Answer

A)   own the merchandise they sell but do not physically handle, stock, or deliver it.
B)   perform all channel functions and sell on consignment to retailers.
C)   take title to merchandise but sell only to buyers that call on them, pay cash for merchandise, and furnish their own transportation for merchandise.
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) None of the above
G) C) and D)

Exam 13: Retailing and Wholesaling

Drop shippers

Correct Answer
verified

Correct Answer
verified

To increase the demand for complementary products,the price of a product often is

Correct Answer
verified

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?

Correct Answer
verified

Key target markets for Mall of America are

Correct Answer
verified

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

Correct Answer
verified

A strip mall is a

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

Which type of outlet is most likely in its accelerated development stage of the retail life cycle?

Correct Answer
verified

Online retailing has evolved to include social shopping options like intermediaries (Groupon) ,marketplaces (Google Offer) ,and __________ (Yipit) .

Correct Answer
verified

Which type of outlet is most likely in its early growth stage of the retail life cycle?

Correct Answer
verified

Data analytics benefits retailers by accurately predicting changes in the external environment.

Correct Answer
verified

Cash and carry wholesalers

Correct Answer
verified

The use of specialty catalogs from firms such as IKEA,Crate and Barrel,and L.L.Bean have been affected by all of the following factors except which?

Correct Answer
verified

Outlets such as Checkers Drive-In Restaurants typically enter the wheel of retailing with

Correct Answer
verified

Vending machines are no longer limited by the need for cash.In Japan,South Korea,and the Philippines,consumers use mobile phones that transmit payments to vending machines wirelessly.This is an example of how vending machines can provide which type of utility?

Correct Answer
verified

Retail outlets,like products,experience the process of growth and decline,which is referred to as the

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

Unlike merchant wholesalers,agents,and brokers,manufacturers' branches and sales offices are __________ that perform wholesaling activities.

Correct Answer
verified

Bakery items,dairy products,and meat that are sold for cash in their original packages are traditionally sold by which type of wholesaler?

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Drop shippers

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

To increase the demand for complementary products,the price of a product often is

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

Key target markets for Mall of America are

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A strip mall is a

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

Which type of outlet is most likely in its accelerated development stage of the retail life cycle?

Correct AnswerverifiedShow Answer

Online retailing has evolved to include social shopping options like intermediaries (Groupon) ,marketplaces (Google Offer) ,and __________ (Yipit) .

Correct AnswerverifiedShow Answer

Which type of outlet is most likely in its early growth stage of the retail life cycle?

Correct AnswerverifiedShow Answer

Data analytics benefits retailers by accurately predicting changes in the external environment.

Correct AnswerverifiedShow Answer

Cash and carry wholesalers

Correct AnswerverifiedShow Answer

The use of specialty catalogs from firms such as IKEA,Crate and Barrel,and L.L.Bean have been affected by all of the following factors except which?

Correct AnswerverifiedShow Answer

Outlets such as Checkers Drive-In Restaurants typically enter the wheel of retailing with

Correct AnswerverifiedShow Answer

Vending machines are no longer limited by the need for cash.In Japan,South Korea,and the Philippines,consumers use mobile phones that transmit payments to vending machines wirelessly.This is an example of how vending machines can provide which type of utility?

Correct AnswerverifiedShow Answer

Retail outlets,like products,experience the process of growth and decline,which is referred to as the

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

Unlike merchant wholesalers,agents,and brokers,manufacturers' branches and sales offices are __________ that perform wholesaling activities.

Correct AnswerverifiedShow Answer

Bakery items,dairy products,and meat that are sold for cash in their original packages are traditionally sold by which type of wholesaler?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified