Question 1

Freightfinder.com is an Internet company that is called a "go-between." If a trucker needs to find a load for a particular trade lane,he or she can visit this site,list the price and available truck space,and find a company that needs a shipment moved.Since the purpose of this website is to put buyer and sellers together so that a single sale can be made,this website can be categorized as

Accepted Answer

A)   a selling agent.
B)   a manufacturer's representative.
C)   a manufacturer's agent.
D)   a broker.
E)   an administrator.F) D) and E)
G) B) and E)

Question 2

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.Recently,however,sales have been a bit slow.Jane decides to reduce the price for the frames to $80.What is her maintained markup in dollar terms?

Accepted Answer

A)   $100
B)   $20
C)   $44
D)   $64
E)   $0F) A) and C)
G) C) and E)

Question 3

One of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.Of the shoppers who leave,__________ percent do not return.

Accepted Answer

A)   30
B)   40
C)   50
D)   60
E)   70F) B) and D)
G) A) and B)

Question 4

A cluster of neighborhood stores,whose composition is typically unplanned and serves people who are within a 5- to 10-minute drive is referred to as a

Accepted Answer

A)   suburban shopping mall.
B)   strip mall.
C)   mini-mart.
D)   hypomarket.
E)   central business district.F) A) and B)
G) None of the above

Question 5

Your neighborhood dry cleaner or florist is likely to be categorized as an independent retailer.This means it is owned by

Accepted Answer

A)   an individual.
B)   a conglomerate.
C)   a consortium.
D)   a corporate chain.
E)   a cooperative.F) A) and C)
G) A) and D)

Question 6

Albertsons Grocery Store accepts debit and credit cards as well as cash and checks for purchases.Its acceptance of various forms of payment provides its customers with __________ utility.

Accepted Answer

A)   time
B)   place
C)   possession
D)   form
E)   publicF) B) and D)
G) C) and D)

Question 7

The three key methods of classifying retail operations are

Accepted Answer

A)   method of operation, revenues generated, and merchandise line.
B)   form of ownership, method of operation, and merchandise line.
C)   form of ownership, level of service, and merchandise line.
D)   level of service, merchandise line, and revenues generated.
E)   merchandise line, form of ownership, and revenues generated.F) A) and E)
G) A) and D)

Question 8

Prices in vending machines tend to be higher because

Accepted Answer

A)   machines are placed in low-demand traffic areas.
B)   maintenance, operating, and leasing costs are high.
C)   only small unit volume items are sold.
D)   customary pricing requires certain coin and currency amounts regardless of the normal retailer markup.
E)   few people buy from vending machines.F) B) and E)
G) A) and B)

Question 9

One of the biggest problems online retailers face is that nearly __________ percent of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.

Accepted Answer

A)   16
B)   26
C)   36
D)   56
E)   66F) All of the above
G) A) and E)

Question 10

Markup refers to

Accepted Answer

A)   the difference between the final selling price and how the customer values the product.
B)   selling brand name merchandise at lower than regular prices.
C)   the amount added to the cost the retailer paid for a product to reach the final selling price.
D)   the difference between the retail cost and initial selling price.
E)   the reduction in retail price, usually expressed as a percentage equal to the amount reduced, divided by the original price, and then multiplied byF) A) and B)
G) None of the above

Question 11

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

Accepted Answer

A)   the markdown percentage
B)   inventory carrying costs
C)   the return on sales
D)   the gross margin
E)   the sales per employeeF) B) and E)
G) C) and D)

Question 12

Describe the retail life cycle.

Accepted Answer

The retail life cycle describes the proc...

Question 13

Cash and carry wholesalers

Accepted Answer

A)   furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.
B)   take title to merchandise but sell only to buyers that call on them, pay cash for merchandise, and furnish their own transportation for merchandise.
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 E)
G) A) and D)

Question 14

Which of the following is a type of full-service merchant wholesaler?

Accepted Answer

A)   cash and carry wholesaler
B)   rack jobbers
C)   truck jobbers
D)   specialty merchandise wholesaler
E)   drop shippersF) A) and C)
G) A) and E)

Question 15

A variation of off-price retailing is

Accepted Answer

A)   discount wholesalers.
B)   outlet stores.
C)   discount retailers.
D)   supercenters.
E)   hypermarkets.F) B) and C)
G) B) and D)

Question 16

Which type of utility is created by online shopping?

Accepted Answer

A)   time
B)   price
C)   product
D)   process
E)   promotionF) A) and D)
G) A) and C)

Question 17

Most stores today are near several others in one of four settings: the central business district,the regional shopping center,the power center,or the

Accepted Answer

A)   suburban downtown.
B)   strip mall.
C)   exurb value center.
D)   rural micromall.
E)   urban megacenter.F) A) and C)
G) B) and E)

Question 18

The four utilities offered to consumers through retailing are

Accepted Answer

A)   convenience, performance, possession, and form.
B)   time, place, possession, and form.
C)   product, price, place, and promotion.
D)   people, productivity, process, and physical environment.
E)   convenience, consistency, competition, and choice.F) B) and C)
G) A) and E)

Question 19

Intangibles,such as a sense of belonging,excitement,style,or warmth,are considered to be __________ of a store's image.

Accepted Answer

A)   functional qualities
B)   sociological qualities
C)   psychological attributes
D)   antecedent attributes
E)   personality elementsF) A) and B)
G) A) and C)

Question 20

The description of how new forms of retail outlets enter the market is referred to as the

Accepted Answer

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

Exam 13: Retailing and Wholesaling

Your neighborhood dry cleaner or florist is likely to be categorized as an independent retailer.This means it is owned by

Correct Answer
verified

Which of the following is a type of full-service merchant wholesaler?

Correct Answer
verified

The four utilities offered to consumers through retailing are

Correct Answer
verified

A cluster of neighborhood stores,whose composition is typically unplanned and serves people who are within a 5- to 10-minute drive is referred to as a

Correct Answer
verified

Intangibles,such as a sense of belonging,excitement,style,or warmth,are considered to be __________ of a store's image.

Correct Answer
verified

Correct Answer
verified

One of the biggest problems online retailers face is that nearly __________ percent of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.

Correct Answer
verified

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

Correct Answer
verified

A variation of off-price retailing is

Correct Answer
verified

Which type of utility is created by online shopping?

Correct Answer
verified

Prices in vending machines tend to be higher because

Correct Answer
verified

One of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.Of the shoppers who leave,__________ percent do not return.

Correct Answer
verified

The three key methods of classifying retail operations are

Correct Answer
verified

The description of how new forms of retail outlets enter the market is referred to as the

Correct Answer
verified

Albertsons Grocery Store accepts debit and credit cards as well as cash and checks for purchases.Its acceptance of various forms of payment provides its customers with __________ utility.

Correct Answer
verified

Most stores today are near several others in one of four settings: the central business district,the regional shopping center,the power center,or the

Correct Answer
verified

Describe the retail life cycle.

Correct Answer
verified
The retail life cycle describes the proc...
View Answer

Markup refers to

Correct Answer
verified

Correct Answer
verified

Cash and carry wholesalers

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Your neighborhood dry cleaner or florist is likely to be categorized as an independent retailer.This means it is owned by

Correct AnswerverifiedShow Answer

Which of the following is a type of full-service merchant wholesaler?

Correct AnswerverifiedShow Answer

The four utilities offered to consumers through retailing are

Correct AnswerverifiedShow Answer

A cluster of neighborhood stores,whose composition is typically unplanned and serves people who are within a 5- to 10-minute drive is referred to as a

Correct AnswerverifiedShow Answer

Intangibles,such as a sense of belonging,excitement,style,or warmth,are considered to be __________ of a store's image.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

One of the biggest problems online retailers face is that nearly __________ percent of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A variation of off-price retailing is

Correct AnswerverifiedShow Answer

Which type of utility is created by online shopping?

Correct AnswerverifiedShow Answer

Prices in vending machines tend to be higher because

Correct AnswerverifiedShow Answer

One of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.Of the shoppers who leave,__________ percent do not return.

Correct AnswerverifiedShow Answer

The three key methods of classifying retail operations are

Correct AnswerverifiedShow Answer

The description of how new forms of retail outlets enter the market is referred to as the

Correct AnswerverifiedShow Answer

Albertsons Grocery Store accepts debit and credit cards as well as cash and checks for purchases.Its acceptance of various forms of payment provides its customers with __________ utility.

Correct AnswerverifiedShow Answer

Most stores today are near several others in one of four settings: the central business district,the regional shopping center,the power center,or the

Correct AnswerverifiedShow Answer

Describe the retail life cycle.

Correct AnswerverifiedThe retail life cycle describes the proc...View AnswerShow Answer

Markup refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Cash and carry wholesalers

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
The retail life cycle describes the proc...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified