Question 1

Intermediaries that represent a single producer and are responsible for designing promotional plans,setting prices,determining distribution policies,and making recommendations on product strategy are referred to as

Accepted Answer

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

Question 2

Loblaws,a Canadian supermarket,features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix,this tactic is related to

Accepted Answer

A)   pricing.
B)   goods and services factor.
C)   communication.
D)   merchandise.
E)   location.F) A) and D)
G) B) and D)

Question 3

Emphasizing consistently low prices and eliminating most markdowns is referred to as

Accepted Answer

A)   low-margin pricing.
B)   everyday low pricing.
C)   everyday fair pricing.
D)   value-based pricing.
E)   maintained pricing.F) All of the above
G) B) and E)

Question 4

The major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers __________ and discount stores buy from wholesalers __________.

Accepted Answer

A)   that are trying to offload returned or slightly irregular inventory; selling new but inexpensive merchandise
B)   at below wholesale prices; and charge a high initial price with the full intent of taking markdowns later
C)   at below wholesale prices; at full price but take less of a markup
D)   at various price points; at the lowest price points possible
E)   that are part of a retailing cooperative; that are part of a wholesaling cooperativeF) A) and B)
G) D) and E)

Question 5

The __________ distinguishes types of retail outlets,with independent retailers,corporate chains,or contractual systems being the three general forms.

Accepted Answer

A)   wheel of retailing
B)   service level
C)   merchandise line
D)   product assortment
E)   form of ownershipF) C) and E)
G) B) and E)

Question 6

Figure 13-5

-According to Figure 13-5,Stage A represents which stage of the retail life cycle?

Accepted Answer

A)   introduction
B)   early growth
C)   accelerated development
D)   maturity
E)   start-upF) B) and C)
G) B) and D)

Question 7

A business in Kansas City,Missouri,looking to rent office space should use __________ to help it locate the most suitable space at the best possible rate.

Accepted Answer

A)   a selling agent
B)   a manufacturer's representative
C)   a manufacturer's agent
D)   an administrator
E)   a brokerF) All of the above
G) None of the above

Question 8

The marketing managers at Omaha Steaks used airlines' databases to mail a special offer to frequent flyers.Eight weeks after shipping the steaks to the frequent flyers who responded to the offer,the company's salespeople followed up by telephoning customers to ask for new orders.This is an example of which types of nonstore retailing?

Accepted Answer

A)   direct selling and telemarketing
B)   direct-mail and telemarketing
C)   telemarketing and online retailing
D)   online retailing and direct-mail
E)   direct-mail and direct sellingF) All of the above
G) B) and E)

Question 9

Sally Beauty Supply sells products for hair,skin,and nail care as well as cosmetics.It is most likely classified as which retail variation based on the considerable assortment of beauty and personal care products in carries?

Accepted Answer

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

Question 10

Aeon,Carrefour,Tesco,and Metro Group are

Accepted Answer

A)   sizable wholesalers that handle products for the world's largest retailers.
B)   new Internet start-ups that have the potential to impact the U.S. economy.
C)   large retailers outside of the United States.
D)   large distributors of business products.
E)   historic companies that developed consumer selling systems, though none of them exist today.F) B) and D)
G) A) and C)

Question 11

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?

Accepted Answer

A)   administered system
B)   conglomerate system
C)   franchise system
D)   vertical integrated system
E)   retail-sponsored cooperativeF) B) and D)
G) A) and D)

Question 12

QVC is a television home shopping network.It generates sales of more than $8 billion from its 60 million customers by

Accepted Answer

A)   directing customers to purchase through its Mall of America retail store.
B)   broadcasting live 12 hours a day 365 days a year.
C)   offering more than 1,000 products each week.
D)   offering overstocked items from retailers at a fraction of the original cost.
E)   running live podcasts and live streaming over the Internet.F) B) and D)
G) B) and C)

Question 13

Williams-Sonoma is a specialty store that caters to customers who like to cook at home.It offers free cooking classes,has frequent demonstrations by cookbook authors,and has employees who are knowledgeable about food preparation.The sales staff helps customers make their selections.Williams-Sonoma is __________ retailer.

Accepted Answer

A)   an exclusive-service
B)   a full-service
C)   an upscale-service
D)   a self-service
E)   a limited-serviceF) A) and B)
G) A) and C)

Question 14

The selling of brand name merchandise at lower than regular prices is referred to as

Accepted Answer

A)   discount pricing.
B)   everyday low price.
C)   markdown pricing.
D)   off-price retailing.
E)   loss-price leader.F) C) and D)
G) A) and B)

Question 15

Loehmann's is an upscale,specialty retailer that sells name-brand designer fashions.A few salespeople are available for selected departments,but customers are responsible for most of their shopping activities.Loehmann's provides its consumers with

Accepted Answer

A)   full service.
B)   limited service.
C)   self-service.
D)   restricted service.
E)   functional service.F) B) and D)
G) A) and E)

Question 16

As a franchisor,7-Eleven would assist a franchisee in selecting the store location,setting up the store,advertising,and

Accepted Answer

A)   developing the marketing program.
B)   training personnel.
C)   offering performance bonuses.
D)   ordering and restocking inventory.
E)   paying insurance and legal fees.F) None of the above
G) B) and D)

Question 17

Multichannel retailers are retailers that

Accepted Answer

A)   sell different products through entirely different channels.
B)   sell through different channels under different brand names.
C)   utilize strategic and tactical wholesalers.
D)   utilize and integrate a combination of traditional store formats and nonstore formats.
E)   combine two channels for their offerings: one for products and the other for services.F) C) and E)
G) All of the above

Question 18

The four major types of limited-service merchant wholesalers are drop shippers,rack jobbers,truck jobbers,and

Accepted Answer

A)   machine vendors.
B)   credit line wholesalers.
C)   transport vendors.
D)   cash and carry wholesalers.
E)   container transport vendors.F) A) and C)
G) A) and D)

Question 19

Jane Westerlund owns a small retail picture frame store in a local strip mall.She just bought 10 picture frames from a promising woodworker for $36 each.Based on market conditions,she will sell these for $100 each.What is her markup in dollar terms?

Accepted Answer

A)   $136
B)   $64
C)   $72
D)   $360
E)   $10F) None of the above
G) C) and D)

Question 20

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

Accepted Answer

A)   Consumers are unable to 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 with long processing times 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) A) and B)
G) A) and E)

Exam 13: Retailing and Wholesaling

The four major types of limited-service merchant wholesalers are drop shippers,rack jobbers,truck jobbers,and

Correct Answer
verified

A business in Kansas City,Missouri,looking to rent office space should use __________ to help it locate the most suitable space at the best possible rate.

Correct Answer
verified

Loehmann's is an upscale,specialty retailer that sells name-brand designer fashions.A few salespeople are available for selected departments,but customers are responsible for most of their shopping activities.Loehmann's provides its consumers with

Correct Answer
verified

QVC is a television home shopping network.It generates sales of more than $8 billion from its 60 million customers by

Correct Answer
verified

Jane Westerlund owns a small retail picture frame store in a local strip mall.She just bought 10 picture frames from a promising woodworker for $36 each.Based on market conditions,she will sell these for $100 each.What is her markup in dollar terms?

Correct Answer
verified

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

Correct Answer
verified

Aeon,Carrefour,Tesco,and Metro Group are

Correct Answer
verified

As a franchisor,7-Eleven would assist a franchisee in selecting the store location,setting up the store,advertising,and

Correct Answer
verified

Correct Answer
verified

Sally Beauty Supply sells products for hair,skin,and nail care as well as cosmetics.It is most likely classified as which retail variation based on the considerable assortment of beauty and personal care products in carries?

Correct Answer
verified

Loblaws,a Canadian supermarket,features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix,this tactic is related to

Correct Answer
verified

The selling of brand name merchandise at lower than regular prices is referred to as

Correct Answer
verified

Multichannel retailers are retailers that

Correct Answer
verified

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?

Correct Answer
verified

The __________ distinguishes types of retail outlets,with independent retailers,corporate chains,or contractual systems being the three general forms.

Correct Answer
verified

Figure 13-5 -According to Figure 13-5,Stage A represents which stage of the retail life cycle?

Correct Answer
verified

The major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers and discount stores buy from wholesalers .

Correct Answer
verified

Correct Answer
verified

Emphasizing consistently low prices and eliminating most markdowns is referred to as

Correct Answer
verified

Intermediaries that represent a single producer and are responsible for designing promotional plans,setting prices,determining distribution policies,and making recommendations on product strategy are referred to as

Correct Answer
verified

Exam 13: Retailing and Wholesaling

The four major types of limited-service merchant wholesalers are drop shippers,rack jobbers,truck jobbers,and

Correct AnswerverifiedShow Answer

A business in Kansas City,Missouri,looking to rent office space should use __________ to help it locate the most suitable space at the best possible rate.

Correct AnswerverifiedShow Answer

Loehmann's is an upscale,specialty retailer that sells name-brand designer fashions.A few salespeople are available for selected departments,but customers are responsible for most of their shopping activities.Loehmann's provides its consumers with

Correct AnswerverifiedShow Answer

QVC is a television home shopping network.It generates sales of more than $8 billion from its 60 million customers by

Correct AnswerverifiedShow Answer

Jane Westerlund owns a small retail picture frame store in a local strip mall.She just bought 10 picture frames from a promising woodworker for $36 each.Based on market conditions,she will sell these for $100 each.What is her markup in dollar terms?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Aeon,Carrefour,Tesco,and Metro Group are

Correct AnswerverifiedShow Answer

As a franchisor,7-Eleven would assist a franchisee in selecting the store location,setting up the store,advertising,and

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Sally Beauty Supply sells products for hair,skin,and nail care as well as cosmetics.It is most likely classified as which retail variation based on the considerable assortment of beauty and personal care products in carries?

Correct AnswerverifiedShow Answer

Loblaws,a Canadian supermarket,features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix,this tactic is related to

Correct AnswerverifiedShow Answer

The selling of brand name merchandise at lower than regular prices is referred to as

Correct AnswerverifiedShow Answer

Multichannel retailers are retailers that

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

The __________ distinguishes types of retail outlets,with independent retailers,corporate chains,or contractual systems being the three general forms.

Correct AnswerverifiedShow Answer

Figure 13-5 -According to Figure 13-5,Stage A represents which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

The major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers __________ and discount stores buy from wholesalers __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Emphasizing consistently low prices and eliminating most markdowns is referred to as

Correct AnswerverifiedShow Answer

Intermediaries that represent a single producer and are responsible for designing promotional plans,setting prices,determining distribution policies,and making recommendations on product strategy are referred to as

Correct AnswerverifiedShow Answer

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verified

The major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers and discount stores buy from wholesalers .

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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