Question 1

A form of ownership that involves multiple outlets under common ownership is referred to as

Accepted Answer

A)   a corporate chain.
B)   a consumer cooperative.
C)   a contractual system.
D)   an independent retailer.
E)   an administered system.F) C) and E)
G) A) and D)

Question 2

Similar to the West Edmonton Mall in Alberta,Canada,with shopping,restaurants,hotels,and a theme park,the Mall of America is a variation of

Accepted Answer

A)   a central business district.
B)   a regional shopping center.
C)   an entertainment district.
D)   a destination mall concept.
E)   an anchored mall.F) A) and C)
G) A) and B)

Question 3

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) A) and C)

Question 4

McDonald's,7-Eleven,and Anytime Fitness are examples of

Accepted Answer

A)   product-distribution franchises.
B)   business franchise venture.
C)   business-format franchises.
D)   manufacturing franchises.
E)   general service franchise.F) All of the above
G) B) and D)

Question 5

Depth of product line refers to

Accepted Answer

A)   the percentage of goods stored as inventory.
B)   the variety of different product items a store carries.
C)   variations in price and color on specific items in a store.
D)   the assortment of each item carried by a store.
E)   the number of different product classes owned by a corporate chain.F) A) and B)
G) A) and C)

Question 6

The two general types of franchises are

Accepted Answer

A)   product-format franchises and distribution franchises.
B)   business-format franchises and manufacturing franchises.
C)   venture franchises and general service franchises.
D)   manufacturing franchises and venture franchises.
E)   business-format franchises and product-distribution franchises.F) C) and D)
G) A) and D)

Question 7

Boston Pizza wants to determine how effective its retail space is compared to other pizza establishments in the local area.The calculation for this indicator is arrived at by determining the __________ for its store and comparing it against the same indicator for all of the other local pizza outlets.

Accepted Answer

A)   same-store gross margin
B)   same-store sales growth
C)   sales per square foot
D)   net profit
E)   same-store net present valueF) All of the above
G) None of the above

Question 8

Wholly owned extensions of the producer that perform wholesaling activities are referred to as

Accepted Answer

A)   general merchandise wholesalers.
B)   cash and carry wholesalers.
C)   agents and brokers.
D)   manufacturer's branch or sales offices.
E)   merchant wholesalers.F) A) and C)
G) B) and C)

Question 9

Independent retailers account for most of the __________ retail establishments in the United States.

Accepted Answer

A)  50,000
B)  90,000
C)  500,000
D)  900,000
E)  1.1 millionF) B) and D)
G) All of the above

Question 10

Combining the convenient location of a strip mall with the influential draw of national stores results in shopping areas known as

Accepted Answer

A)   suburban malls.
B)   warehouse malls.
C)   power centers.
D)   retail malls.
E)   cluster malls.F) B) and D)
G) All of the above

Question 11

The term bricks and clicks refers to __________ and __________,respectively.

Accepted Answer

A)   catalogs; websites
B)   search engines; websites
C)   traditional retailers; online retailers
D)   buildings; shoppers
E)   computer savvy buyers; computer novice buyersF) A) and B)
G) B) and E)

Question 12

Retail life cycle refers to

Accepted Answer

A)   the distinct stages a product goes through before it becomes obsolete.
B)   the process of growth and decline that retail outlets, like products, experience.
C)   the cycle of a customer's buying behavior from awareness of a product to its ultimate purchase.
D)   the relationship between the tangible aspects of a product and the types of services that need to accompany it.
E)   the traditional management changes that take place as a retail outlet grows.F) C) and E)
G) All of the above

Question 13

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

Accepted Answer

A)   single-price stores
B)   value retail centers
C)   online retailers
D)   general stores
E)   convenience storesF) B) and E)
G) B) and C)

Question 14

The key goal for retailers in the accelerated development phase of the retail life cycle is to

Accepted Answer

A)   recover start-up costs.
B)   establish a dominant position in the fight for market share.
C)   delay entering the decline stage of the retail life cycle.
D)   find ways of discouraging customers from moving to low-margin, mass-volume outlets.
E)   establish a retail concept that is a sharp departure from existing competition.F) B) and C)
G) B) and D)

Question 15

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as

Accepted Answer

A)   a markup.
B)   a markdown.
C)   an original markup.
D)   a maintained margin.
E)   a cost-plus markup.F) A) and B)
G) C) and E)

Question 16

At which level of service would the customer perform the least number of functions?

Accepted Answer

A)   automated service
B)   minimal service
C)   self-service
D)   limited service
E)   full serviceF) A) and D)
G) A) and C)

Question 17

Staples is a specialty discount retailer that focuses on one type of product-office supplies.Staples is an example of a

Accepted Answer

A)   hypermarket.
B)   superstore.
C)   category killer.
D)   department store.
E)   focused merchandise stores.F) A) and B)
G) A) and C)

Question 18

Specialty merchandise wholesalers

Accepted Answer

A)   carry a broad assortment of merchandise and perform all channel functions.
B)   own the merchandise they sell but do not physically handle, stock, or deliver it.
C)   offer a relatively narrow range of products but have an extensive assortment within the product lines carried.
D)   work for several producers, carry noncompetitive, complementary merchandise in an exclusive territory, and use over-the-road transportation for all product deliveries.
E)   deal exclusively with small low-cost consumer goods that are distributed to a select number of large retail chains.F) A) and B)
G) All of the above

Question 19

Stores like Dillard's,Macy's,and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type.These retailers are known as

Accepted Answer

A)   limited-line stores.
B)   scrambled merchandise stores.
C)   hypermarkets.
D)   intertype outlets.
E)   general merchandise stores.F) A) and D)
G) C) and D)

Question 20

Retailers like Williams-Sonoma that sell products through retail stores,catalogs,and online are examples of

Accepted Answer

A)   intertype competitors.
B)   multichannel retailers.
C)   vertically-integrated retailers.
D)   scrambled merchandisers.
E)   dual distributors.F) A) and E)
G) C) and E)

Exam 13: Retailing and Wholesaling

Similar to the West Edmonton Mall in Alberta,Canada,with shopping,restaurants,hotels,and a theme park,the Mall of America is a variation of

Correct Answer
verified

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

Correct Answer
verified

Staples is a specialty discount retailer that focuses on one type of product-office supplies.Staples is an example of a

Correct Answer
verified

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as

Correct Answer
verified

The term bricks and clicks refers to and ,respectively.

Correct Answer
verified

The key goal for retailers in the accelerated development phase of the retail life cycle is to

Correct Answer
verified

Stores like Dillard's,Macy's,and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type.These retailers are known as

Correct Answer
verified

Retailers like Williams-Sonoma that sell products through retail stores,catalogs,and online are examples of

Correct Answer
verified

Specialty merchandise wholesalers

Correct Answer
verified

Wholly owned extensions of the producer that perform wholesaling activities are referred to as

Correct Answer
verified

The two general types of franchises are

Correct Answer
verified

Retail life cycle refers to

Correct Answer
verified

McDonald's,7-Eleven,and Anytime Fitness are examples of

Correct Answer
verified

Correct Answer
verified

A form of ownership that involves multiple outlets under common ownership is referred to as

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

Depth of product line refers to

Correct Answer
verified

Independent retailers account for most of the __________ retail establishments in the United States.

Correct Answer
verified

Combining the convenient location of a strip mall with the influential draw of national stores results in shopping areas known as

Correct Answer
verified

At which level of service would the customer perform the least number of functions?

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Similar to the West Edmonton Mall in Alberta,Canada,with shopping,restaurants,hotels,and a theme park,the Mall of America is a variation of

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Staples is a specialty discount retailer that focuses on one type of product-office supplies.Staples is an example of a

Correct AnswerverifiedShow Answer

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as

Correct AnswerverifiedShow Answer

The term bricks and clicks refers to __________ and __________,respectively.

Correct AnswerverifiedShow Answer

The key goal for retailers in the accelerated development phase of the retail life cycle is to

Correct AnswerverifiedShow Answer

Stores like Dillard's,Macy's,and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type.These retailers are known as

Correct AnswerverifiedShow Answer

Retailers like Williams-Sonoma that sell products through retail stores,catalogs,and online are examples of

Correct AnswerverifiedShow Answer

Specialty merchandise wholesalers

Correct AnswerverifiedShow Answer

Wholly owned extensions of the producer that perform wholesaling activities are referred to as

Correct AnswerverifiedShow Answer

The two general types of franchises are

Correct AnswerverifiedShow Answer

Retail life cycle refers to

Correct AnswerverifiedShow Answer

McDonald's,7-Eleven,and Anytime Fitness are examples of

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A form of ownership that involves multiple outlets under common ownership is referred to as

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

Depth of product line refers to

Correct AnswerverifiedShow Answer

Independent retailers account for most of the __________ retail establishments in the United States.

Correct AnswerverifiedShow Answer

Combining the convenient location of a strip mall with the influential draw of national stores results in shopping areas known as

Correct AnswerverifiedShow Answer

At which level of service would the customer perform the least number of functions?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

The term bricks and clicks refers to and ,respectively.

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