Question 1

Wholesalers that carry a broad assortment of merchandise and perform all channel functions are referred to as a

Accepted Answer

A)   limited-line wholesaler.
B)   drop shipper.
C)   rack jobber.
D)   specialty merchandise wholesaler.
E)   general merchandise wholesaler.F) B) and C)
G) B) and E)

Question 2

The battle for market share is usually fought directly before the __________ stage,and some competitors drop out of the market.

Accepted Answer

A)   decline
B)   growth
C)   maturity
D)   harvest
E)   introduction phaseF) None of the above
G) All of the above

Question 3

Dick's Sporting Goods store is most likely classified as which retail variation based on its considerable assortment (depth) of a related line of items?

Accepted Answer

A)   single-line
B)   full-service
C)   full-line
D)   limited-service
E)   limited-lineF) B) and D)
G) B) and C)

Question 4

Selling on consignment to retailers,which means they retain the title to the products displayed and bill retailers only for the merchandise sold,is characteristic of which limited-service wholesaler?

Accepted Answer

A)   truck jobbers
B)   transport vendors
C)   rack jobbers
D)   cash and carry wholesalers
E)   drop shippersF) A) and C)
G) C) and E)

Question 5

Off 5th provides an outlet for excess merchandise from Saks Fifth Avenue.This retailer is an example of a(n)

Accepted Answer

A)   hypermarket.
B)   markdown store.
C)   outlet store.
D)   category killer.
E)   warehouse club.F) A) and D)
G) A) and C)

Question 6

There are three general forms of retail ownership: contractual system,independent retailer,and

Accepted Answer

A)   dual ownership.
B)   industry consortium.
C)   retailing cooperative.
D)   multinational cartel.
E)   corporate chain.F) A) and E)
G) C) and D)

Question 7

A drugstore that sells pharmaceuticals,beauty aids,camera equipment,nonperishable groceries,and small hardware items is an example of a retailer using

Accepted Answer

A)   multiple distribution channels.
B)   full service.
C)   scrambled merchandising.
D)   intertype competition.
E)   dual channel marketing.F) C) and E)
G) C) and D)

Question 8

Outside the United States,large retailers include __________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Accepted Answer

A)   Aeon
B)   Toshei
C)   Seebi
D)   Goshen
E)   ToshiF) A) and B)
G) A) and E)

Question 9

All of the following are reasons direct-mail and catalog retailing are attractive except which?

Accepted Answer

A)   They can create customer value by providing a fast and convenient means of making a purchase.
B)   They can serve as a tool to encourage consumers to visit a website, a social media page, or even a store.
C)   Their paper costs and postal rates have declined, making them less expensive to send.
D)   They can eliminate the cost of a store and clerks.
E)   They can improve marketing efficiency through segmentation and targeting.F) A) and B)
G) A) and C)

Question 10

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

Question 11

Which form of retail outlet would most likely offer customers convenience,quality personal service,and lifestyle compatibility?

Accepted Answer

A)   corporate chain
B)   independent retailer
C)   administered system
D)   contractual system
E)   sole incorporationF) C) and D)
G) A) and B)

Question 12

Bloomingdale's stores are part of the Macy's

Accepted Answer

A)   corporate chain.
B)   consumer cooperative.
C)   contractual system.
D)   retail conglomerate.
E)   administered system.F) B) and E)
G) B) and D)

Question 13

Figure 13-4 
-According to Figure 13-4,where would you find the highest prices,margins,and status?

Accepted Answer

A)   A
B)   B
C)   C
D)   D
E)   A and DF) A) and D)
G) None of the above

Question 14

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

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

Question 15

Recently,online sales accounted for __________ of all retail sales.

Accepted Answer

A)  6.5 percent
B)  12.5 percent
C)  22.5 percent
D)  36.5 percent
E)  42.5 percentF) B) and E)
G) B) and D)

Question 16

An approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other,with the objective of maximizing sales and profits in the category,is referred to as

Accepted Answer

A)   category capacity.
B)   product management.
C)   retail inventory category.
D)   category management.
E)   automated inventory control.F) A) and C)
G) None of the above

Question 17

What is category management and when is it used?

Accepted Answer

Category management is used to manage th...

Question 18

The retailing mix refers to the activities related to managing a store,and includes

Accepted Answer

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

Question 19

Using the telephone to interact with and sell directly to consumers is referred to as

Accepted Answer

A)   digital marketing.
B)   telemarketing.
C)   solicitation marketing.
D)   telecommerce.
E)   direct selling.F) B) and E)
G) A) and B)

Question 20

Explain the global impact of retailing.

Accepted Answer

Retailing is important to the United Sta...

Exam 13: Retailing and Wholesaling

What is category management and when is it used?

Correct AnswerverifiedCategory management is used to manage th...View AnswerShow Answer

Explain the global impact of retailing.

Correct AnswerverifiedRetailing is important to the United Sta...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

There are three general forms of retail ownership: contractual system,independent retailer,and

Correct AnswerverifiedShow Answer

The battle for market share is usually fought directly before the __________ stage,and some competitors drop out of the market.

Correct AnswerverifiedShow Answer

Wholesalers that carry a broad assortment of merchandise and perform all channel functions are referred to as a

Correct AnswerverifiedShow Answer

All of the following are reasons direct-mail and catalog retailing are attractive except which?

Correct AnswerverifiedShow Answer

Dick's Sporting Goods store is most likely classified as which retail variation based on its considerable assortment (depth) of a related line of items?

Correct AnswerverifiedShow Answer

Which form of retail outlet would most likely offer customers convenience,quality personal service,and lifestyle compatibility?

Correct AnswerverifiedShow Answer

Selling on consignment to retailers,which means they retain the title to the products displayed and bill retailers only for the merchandise sold,is characteristic of which limited-service wholesaler?

Correct AnswerverifiedShow Answer

Recently,online sales accounted for __________ of all retail sales.

Correct AnswerverifiedShow Answer

Off 5th provides an outlet for excess merchandise from Saks Fifth Avenue.This retailer is an example of a(n)

Correct AnswerverifiedShow Answer

Bloomingdale's stores are part of the Macy's

Correct AnswerverifiedShow Answer

An approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other,with the objective of maximizing sales and profits in the category,is referred to as

Correct AnswerverifiedShow Answer

Using the telephone to interact with and sell directly to consumers is referred to as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Figure 13-4 -According to Figure 13-4,where would you find the highest prices,margins,and status?

Correct AnswerverifiedShow Answer

A drugstore that sells pharmaceuticals,beauty aids,camera equipment,nonperishable groceries,and small hardware items is an example of a retailer using

Correct AnswerverifiedShow Answer

The retailing mix refers to the activities related to managing a store,and includes

Correct AnswerverifiedShow Answer

Outside the United States,large retailers include __________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Correct AnswerverifiedShow Answer

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Category management is used to manage th...
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Retailing is important to the United Sta...
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