Question 1

Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried?

Accepted Answer

A)  general merchandise wholesaler
B)  limited-service wholesaler
C)  cash and carry wholesaler
D)  specialty merchandise wholesaler
E)  drop shipperF) A) and B)
G) B) and D)

Question 2

Which of the following is a commonly used method of classifying retail outlets?

Accepted Answer

A)  service versus product
B)  form of ownership
C)  proportion of national versus private label brands carried
D)  revenues generated
E)  profitabilityF) C) and D)
G) A) and D)

Question 3

Subway is a popular __________.

Accepted Answer

A)  business-format franchise
B)  product-distribution franchise
C)  operations franchise venture
D)  manufacturing franchise
E)  general service franchiseF) A) and B)
G) C) and D)

Question 4

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)  general merchandise storeF) A) and B)
G) C) and D)

Question 5

There are two general types of franchises:

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) A) and B)
G) A) and C)

Question 6

The wholesalers most prevalent in the hardware, drug, and clothing industries would be __________.

Accepted Answer

A)  specialty wholesalers
B)  full-line wholesalers
C)  cash and carry wholesalers
D)  limited-line wholesalers
E)  universal wholesalersF) A) and E)
G) None of the above

Question 7

Independent firms or individuals whose principal function is to bring buyers and sellers together to make sales are referred to as __________.

Accepted Answer

A)  manufacturer's agents
B)  brokers
C)  selling agents
D)  manufacturer's branches
E)  manufacturer's sales officesF) C) and E)
G) B) and D)

Question 8

Which type of wholesaler traditionally sells hosiery, toys, and health and beauty items?

Accepted Answer

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

Question 9

What is category management and when is it used?

Accepted Answer

Category management is used to manage th...

Question 10

__________ provides third-party certification and offers guidance for retailers implementing new environmentally sound practices.

Accepted Answer

A)  The Environmental Protection Agency
B)  The U.S. Chamber of Commerce - Environmental Division
C)  Green Cross International
D)  U.S. Green Retail Association
E)  Leadership in Energy and Environmental Design (LEE
D)  F) D) and E)
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) None of the above
G) B) and E)

Question 12

Stores that carry a broad product line, with limited depth, are referred to as __________.

Accepted Answer

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

Question 13

Wells Fargo is one of the best-run banks in the United States. It reaches retail customers through 9,000 stores, a worldwide network of 12,000 ATMs, and its online banking service. Which utility does Wells Fargo best provide?

Accepted Answer

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

Question 14

In the telemarketing industry, issues such as consumer privacy, __________, and industry standards have become a topic of discussion among consumers, Congress, the Federal Trade Commission (FTC) , and businesses.

Accepted Answer

A)  product quality
B)  price differences
C)  ethical guidelines
D)  on-time delivery
E)  competitive anticsF) B) and D)
G) A) and C)

Question 15

Off-price retailing refers to the

Accepted Answer

A)  differences between the final selling price and the retailer's cost.
B)  sale of brand name merchandise at lower than regular prices.
C)  sales of merchandise at maintained markups.
D)  amount added by the manufacturer to achieve the desired suggested retail price.
E)  reduction in retail price usually expressed as the gross margin.F) A) and E)
G) A) and D)

Question 16

A method of classification that describes how many different types of products a retailer carries and in what assortment is referred to as a __________.

Accepted Answer

A)  product mix
B)  service level
C)  product variety
D)  store composition
E)  merchandise lineF) A) and E)
G) A) and B)

Question 17

New Balance offers shoes for men, women, and children in many sizes and foot widths. It offers running, cross training, walking, golf, and other types of shoes. This is an example of the __________ that New Balance offers to its customers through its own stores or other retailers such as Foot Locker or Sports Authority.

Accepted Answer

A)  product item mix
B)  depth of product line
C)  versatility of product family
D)  breadth of product line
E)  variety of product mixF) All of the above
G) B) and C)

Question 18

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 D)
G) A) and C)

Question 19

The marketing metrics related to a retailer's finances include all of the following EXCEPT:

Accepted Answer

A)  the markdown percentage.
B)  the average length of a store visit.
C)  the return on sales.
D)  the gross margin.
E)  the sales per employeeF) C) and E)
G) C) and D)

Question 20

Explain how the wheel of retailing works.

Accepted Answer

The wheel of retailing describes how new...

Exam 13: Retailing and Wholesaling

Independent firms or individuals whose principal function is to bring buyers and sellers together to make sales are referred to as __________.

Correct Answer
verified

Stores that carry a broad product line, with limited depth, are referred to as __________.

Correct Answer
verified

__________ provides third-party certification and offers guidance for retailers implementing new environmentally sound practices.

Correct Answer
verified

What is category management and when is it used?

Correct Answer
verified
Category management is used to manage th...
View Answer

A method of classification that describes how many different types of products a retailer carries and in what assortment is referred to as a __________.

Correct Answer
verified

Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried?

Correct Answer
verified

Which type of wholesaler traditionally sells hosiery, toys, and health and beauty items?

Correct Answer
verified

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

Correct Answer
verified

Off-price retailing refers to the

Correct Answer
verified

Wells Fargo is one of the best-run banks in the United States. It reaches retail customers through 9,000 stores, a worldwide network of 12,000 ATMs, and its online banking service. Which utility does Wells Fargo best provide?

Correct Answer
verified

Subway is a popular __________.

Correct Answer
verified

Correct Answer
verified

The marketing metrics related to a retailer's finances include all of the following EXCEPT:

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

In the telemarketing industry, issues such as consumer privacy, __________, and industry standards have become a topic of discussion among consumers, Congress, the Federal Trade Commission (FTC) , and businesses.

Correct Answer
verified

The wholesalers most prevalent in the hardware, drug, and clothing industries would be __________.

Correct Answer
verified

Explain how the wheel of retailing works.

Correct Answer
verified
The wheel of retailing describes how new...
View Answer

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

Correct Answer
verified

There are two general types of franchises:

Correct Answer
verified

Which of the following is a commonly used method of classifying retail outlets?

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Independent firms or individuals whose principal function is to bring buyers and sellers together to make sales are referred to as __________.

Correct AnswerverifiedShow Answer

Stores that carry a broad product line, with limited depth, are referred to as __________.

Correct AnswerverifiedShow Answer

__________ provides third-party certification and offers guidance for retailers implementing new environmentally sound practices.

Correct AnswerverifiedShow Answer

What is category management and when is it used?

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

A method of classification that describes how many different types of products a retailer carries and in what assortment is referred to as a __________.

Correct AnswerverifiedShow Answer

Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried?

Correct AnswerverifiedShow Answer

Which type of wholesaler traditionally sells hosiery, toys, and health and beauty items?

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

Off-price retailing refers to the

Correct AnswerverifiedShow Answer

Wells Fargo is one of the best-run banks in the United States. It reaches retail customers through 9,000 stores, a worldwide network of 12,000 ATMs, and its online banking service. Which utility does Wells Fargo best provide?

Correct AnswerverifiedShow Answer

Subway is a popular __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The marketing metrics related to a retailer's finances include all of the following EXCEPT:

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

In the telemarketing industry, issues such as consumer privacy, __________, and industry standards have become a topic of discussion among consumers, Congress, the Federal Trade Commission (FTC) , and businesses.

Correct AnswerverifiedShow Answer

The wholesalers most prevalent in the hardware, drug, and clothing industries would be __________.

Correct AnswerverifiedShow Answer

Explain how the wheel of retailing works.

Correct AnswerverifiedThe wheel of retailing describes how new...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

There are two general types of franchises:

Correct AnswerverifiedShow Answer

Which of the following is a commonly used method of classifying retail outlets?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified
Category management is used to manage th...
View Answer

Correct Answer
verified

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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The wheel of retailing describes how new...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified