Question 1

One reason for the growth of Cyber Monday and online shopping in general is

Accepted Answer

A)  large retailers such as Amazon, Home Depot and Wal-Mart have given online shopping a lot of visibility.
B)  Internet shopping is safer since no one can access your personal information.
C)  people feel they won't be tempted to overspend online the way they do in traditional stores.
D)  people know that if they purchase online they will automatically get tons of offers from similar online merchants.
E)  online prices are traditionally lower since it is so easy to "shop the competition."F) D) and E)
G) A) and E)

Question 2

Most stores today are near several others in one of five settings: the central business district, the community shopping center, the strip, power center, or _________.

Accepted Answer

A)  suburban crossroads
B)  urban megacenter
C)  main street
D)  the regional center
E)  office complexF) A) and B)
G) D) and E)

Question 3

QVC is a television home shopping network.It generates sales of more than $7 billion from its 50 million customers by

Accepted Answer

A)  offering 1,150 new products each week.
B)  restricting purchases only through Mall of America.
C)  broadcasting live twelve hours a day 365 days a year.
D)  offering overstocked yet current items from retailers at a fraction of the original cost.
E)  running live podcasts and live streaming over the Internet in addition to its television programming.F) C) and E)
G) C) and D)

Question 4

Briefly describe the three ways retail outlets can be classified.

Accepted Answer

Retail outlets can be classified in thre...

Question 5

Figure 14-9 
-According to Figure 14-9 above, in which cell would you find the highest prices, margins, and status?

Accepted Answer

A)  1
B)  2
C)  3
D)  4
E)  Cells 1 and 4F) A) and B)
G) A) and C)

Question 6

Stores that carry tremendous depth in one primary line of merchandise are referred to as

Accepted Answer

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

Question 7

The music played in the grocery store has a slow tempo to get shoppers to stay longer and hopefully put more items in their cart.Music is part of the grocery stores _________.

Accepted Answer

A)  image
B)  atmosphere
C)  psychological attributes
D)  antecedent attributes
E)  synergistic formatF) B) and E)
G) B) and D)

Question 8

Consumers benefit in dealing with chains because

Accepted Answer

A)  corporate chains have more experience than other forms of retailers.
B)  they can own stock in the same company where they shop since corporate chain stock must be publically traded.
C)  they can establish a credit history more easily that with other forms of retailers.
D)  there are multiple outlets with similar merchandise and consistent management policies.
E)  they have less stress in making decisions since merchandise is arranged and displayed by professional designers.F) A) and B)
G) A) and E)

Question 9

FIGURE 14-8 
-The Marketing Dashboard shown in Figure 14-8 above shows which of the following stores has the highest sales per square foot?

Accepted Answer

A)  Saks
B)  Neiman Marcus
C)  Best Buy
D)  Tiffany
E)  AppleF) C) and E)
G) A) and B)

Question 10

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

Accepted Answer

A)  exclusive service
B)  selective service
C)  self-service
D)  limited service
E)  full-serviceF) A) and E)
G) B) and D)

Question 11

Which type of outlet is most likely in its early growth stage?

Accepted Answer

A)  supermarkets
B)  online retailers
C)  single-price stores
D)  single-price stores warehouse clubs
E)  business-district retailersF) A) and E)
G) All of the above B

Question 12

Direct selling, sometimes called _________, involves direct sales of goods and services to consumers through personal interactions and demonstrations in their home or office.

Accepted Answer

A)  interface marketing
B)  flex-marketing
C)  door-to-door retailing
D)  interactive selling
E)  responsive sellingF) A) and D)
G) B) and C) C

Question 13

Online retail purchases can be the result of several very different approaches which include (1)  using a "bot" to search for a product at the best price, (2)  going directly to online malls,( 3)  participating in an online auction, and (4)

Accepted Answer

A)  paying dues to become a member of an online discount service.
B)  becoming a secret shopper.
C)  participating in a buying cooperative.
D)  becoming an ultimate shopper.
E)  becoming a member of a research group that evaluates new products.F) None of the above
G) A) and B)

Question 14

Price ranges, store layouts, and breadth and depth of merchandise lines are considered to be __________ of a store's image.

Accepted Answer

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

Question 15

Explain why direct mail has grown so rapidly in recent years.

Accepted Answer

Direct mail retailing is attractive beca...

Question 16

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 life cycle.
D)  find ways of discouraging their customers from moving to low-margin, mass-volume outlets.
E)  establish a retail concept which is a sharp departure from existing competition.F) A) and B)
G) B) and C)

Question 17

FIGURE 14-11 
-According to Figure 14-11 above, segment "D" represents which stage in the retail life cycle?

Accepted Answer

A)  introduction
B)  early growth
C)  accelerated development
D)  maturity
E)  declineF) B) and D)
G) B) and C)

Question 18

Regional shopping centers are the suburban malls of today, containing 50 to 150 stores.The typical drawing distance is 5 to 10 miles from the mall.The centers often contain two or three _________, which are well-known national or regional stores such as Bloomingdale's or Dillard's.

Accepted Answer

A)  general stores
B)  off-price retailers
C)  anchor stores
D)  warehouse clubs
E)  factory outletsF) All of the above
G) A) and B) C

Question 19

Wholesalers who take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for merchandise are referred to as _________.

Accepted Answer

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

Question 20

The wheel of retailing refers to the

Accepted Answer

A)  turnover rate of hourly employees.
B)  life cycle of most consumer goods.
C)  cycle of a customer's buying behavior.
D)  description of retail management philosophies.
E)  description how new forms of retail outlets enter the market.F) C) and D)
G) D) and E)

Exam 14: Retailing and Wholesaling

One reason for the growth of Cyber Monday and online shopping in general is

Correct AnswerverifiedShow Answer

Most stores today are near several others in one of five settings: the central business district, the community shopping center, the strip, power center, or _________.

Correct AnswerverifiedShow Answer

QVC is a television home shopping network.It generates sales of more than $7 billion from its 50 million customers by

Correct AnswerverifiedShow Answer

Briefly describe the three ways retail outlets can be classified.

Correct AnswerverifiedRetail outlets can be classified in thre...View AnswerShow Answer

Figure 14-9 -According to Figure 14-9 above, in which cell would you find the highest prices, margins, and status?

Correct AnswerverifiedShow Answer

Stores that carry tremendous depth in one primary line of merchandise are referred to as

Correct AnswerverifiedShow Answer

The music played in the grocery store has a slow tempo to get shoppers to stay longer and hopefully put more items in their cart.Music is part of the grocery stores _________.

Correct AnswerverifiedShow Answer

Consumers benefit in dealing with chains because

Correct AnswerverifiedShow Answer

FIGURE 14-8 -The Marketing Dashboard shown in Figure 14-8 above shows which of the following stores has the highest sales per square foot?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which type of outlet is most likely in its early growth stage?

Correct AnswerverifiedB

Direct selling, sometimes called _________, involves direct sales of goods and services to consumers through personal interactions and demonstrations in their home or office.

Correct AnswerverifiedC

Online retail purchases can be the result of several very different approaches which include (1) using a "bot" to search for a product at the best price, (2) going directly to online malls,( 3) participating in an online auction, and (4)

Correct AnswerverifiedShow Answer

Price ranges, store layouts, and breadth and depth of merchandise lines are considered to be __________ of a store's image.

Correct AnswerverifiedShow Answer

Explain why direct mail has grown so rapidly in recent years.

Correct AnswerverifiedDirect mail retailing is attractive beca...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

FIGURE 14-11 -According to Figure 14-11 above, segment "D" represents which stage in the retail life cycle?

Correct AnswerverifiedShow Answer

Regional shopping centers are the suburban malls of today, containing 50 to 150 stores.The typical drawing distance is 5 to 10 miles from the mall.The centers often contain two or three _________, which are well-known national or regional stores such as Bloomingdale's or Dillard's.

Correct AnswerverifiedC

Wholesalers who take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for merchandise are referred to as _________.

Correct AnswerverifiedShow Answer

The wheel of retailing refers to the

Correct AnswerverifiedShow Answer

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Retail outlets can be classified in thre...
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B

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Direct mail retailing is attractive beca...
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C

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