Question 1

Figure 16-9
-Figure 16-9 above shows the wheel of retailing,which indicates that retail outlets typically go through changes with the passage of time.What stage in the wheel of retailing does "B" represent?

Accepted Answer

A)   low prices, low margins, low status.
B)   higher prices, higher margins, and higher status.
C)   low prices, high margins, and high status.
D)   mixed prices, mixed margins, and mixed status.
E)   moderate prices, high margins, and high status.F) A) and D)
G) None of the above

Question 2

complementary role of different communication and delivery channels is referred to as

Accepted Answer

A)   the cumulative effect.
B)   the primary effect.
C)   the cross-over effect.
D)   the complementary effect.
E)   the influence effect.F) C) and D)
G) A) and B)

Question 3

Which of the following statements regarding corporate chains is most accurate?

Accepted Answer

A)   Corporate chains usually avoid using centralized decision-making.
B)   Corporate chains generally own most if not all of their suppliers so they do not have to negotiate for price.
C)   Consumers have fewer choices in merchandise since all buying decisions are made unilaterally.
D)   Corporate chains offer the least benefit to consumers since they are the farthest removed from the ultimate consumer.
E)   Corporate chains are multiple outlets under common ownership.F) C) and E)
G) B) and C)

Question 4

Off-price retailers,warehouse clubs,and grocery stores that require customers to bag their groceries provide what level of retail service?

Accepted Answer

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

Question 5

each of the four utilities offered by retailing and with each,identify a retailer that provides that utility.

Accepted Answer

The four utilities retailing offers are:...

Question 6

Specialty stores and department stores are frequently categorized by which level of service?

Accepted Answer

A)   full-service
B)   exclusive-service
C)   minimal-service
D)   self-service
E)   limited-serviceF) All of the above
G) A) and B)

Question 7

Carla's Cards uses a __________ to sell and market the entire line of greeting cards.They design promotional plans,set prices,determine distribution policies,and make recommendations to Carla on product strategy.

Accepted Answer

A)   manufacturer's agent
B)   broker
C)   manufacturer's branch office
D)   manufacturer's sales office
E)   selling agentF) None of the above
G) C) and D)

Question 8

limited-service wholesaler that furnishes shelves that display merchandise in stores,performs all channel functions,and sells on consignment to retailers is referred to as a __________.

Accepted Answer

A)   stack loader
B)   rack jobber
C)   drop shipper
D)   desk jobber
E)   truck jobberF) A) and B)
G) All of the above

Question 9

Limited- and single-line stores are often referred to as __________.

Accepted Answer

A)   specialty outlets
B)   general merchandise stores
C)   scrambled merchandise stores
D)   intertype outlets
E)   hypermarketsF) A) and D)
G) D) and E)

Question 10

Wholesalers who have a small warehouse from which they stock their trucks for distribution to retailers are referred to as __________.

Accepted Answer

A)   cash and carry wholesalers
B)   truck jobbers
C)   rack jobbers
D)   drop shippers
E)   manufacturer's representativesF) B) and E)
G) B) and D)

Question 11

battle for market share is usually fought directly before the __________ stage,and some competitors drop out of the market.

Accepted Answer

A)   decline
B)   growth
C)   maturity
D)   harvest
E)   introduction phaseF) B) and C)
G) A) and D)

Question 12

Consumers often use the prices of __________ items,such as a can of Coke,to form an overall impression of the store's prices.

Accepted Answer

A)   benchmark
B)   stoplight
C)   point-of-purchase
D)   value-based
E)   loss-leaderF) B) and C)
G) None of the above

Question 13

group of 50 to 150 stores that typically attract customers who live or work within a 5- to 10-mile range,often containing two or three anchor stores is referred to as a __________.

Accepted Answer

A)   power center
B)   regional shopping center
C)   strip mall
D)   central business district
E)   urban megacenterF) A) and C)
G) A) and B)

Question 14

Wholesalers who own the merchandise they sell but do not physically handle,stock,or deliver it are referred to as __________.

Accepted Answer

A)   cash and carry wholesalers
B)   rack jobbers
C)   truck jobbers
D)   manufacturer's representatives
E)   drop shippersF) C) and E)
G) A) and E)

Question 15

Which of the following firms has made the wisest wholesaler choice for its product?

Accepted Answer

A)   Sam's Coal Country uses a drop shipper for its coal.
B)   Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs.
C)   Hannah's Hardware uses a rack jobber for its hinges.
D)   Shayna's Superior Supplies uses a desk jobber for its staplers.
E)   Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights.F) A) and B)
G) A) and C)

Question 16

Companies such as Avon,Fuller Brush,Mary Kay,and World Book are examples of firms that use

Accepted Answer

A)   interface marketing.
B)   flex-marketing.
C)   direct selling.
D)   interactive selling.
E)   responsive selling.F) B) and D)
G) A) and D)

Question 17

sale of brand name merchandise at lower than regular prices is referred to as __________.

Accepted Answer

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

Question 18

Higher paper costs,increased postage rates,the growing interest in do-not-mail legislation,and concern for "green" mailings have resulted in

Accepted Answer

A)   a switch to online catalogs and direct customer e-mail advertisements.
B)   the use of thinner, lightweight paper products.
C)   a focus on proven customers rather than on prospective customers.
D)   the banning of "junk" mail by a growing number of environmentally-concerned communities.
E)   a resurgence in non-automated telemarketing.F) C) and D)
G) B) and C)

Question 19

value added dimension of the retail positioning matrix includes elements such as location,product reliability,and __________.

Accepted Answer

A)   prestige
B)   price
C)   market share
D)   number of employees
E)   level of serviceF) None of the above
G) A) and B)

Question 20

There are three general forms of retail ownership: contractual system,independent retailer,and __________.

Accepted Answer

A)   dual ownership
B)   industry consortium
C)   retailing cooperative
D)   multi-national cartel
E)   corporate chainF) C) and D)
G) B) and E)

Exam 16: Retailing and Wholesaling

sale of brand name merchandise at lower than regular prices is referred to as __________.

Correct AnswerverifiedShow Answer

There are three general forms of retail ownership: contractual system,independent retailer,and __________.

Correct AnswerverifiedShow Answer

value added dimension of the retail positioning matrix includes elements such as location,product reliability,and __________.

Correct AnswerverifiedShow Answer

battle for market share is usually fought directly before the __________ stage,and some competitors drop out of the market.

Correct AnswerverifiedShow Answer

Which of the following firms has made the wisest wholesaler choice for its product?

Correct AnswerverifiedShow Answer

complementary role of different communication and delivery channels is referred to as

Correct AnswerverifiedShow Answer

Limited- and single-line stores are often referred to as __________.

Correct AnswerverifiedShow Answer

Consumers often use the prices of __________ items,such as a can of Coke,to form an overall impression of the store's prices.

Correct AnswerverifiedShow Answer

Companies such as Avon,Fuller Brush,Mary Kay,and World Book are examples of firms that use

Correct AnswerverifiedShow Answer

Wholesalers who own the merchandise they sell but do not physically handle,stock,or deliver it are referred to as __________.

Correct AnswerverifiedShow Answer

Specialty stores and department stores are frequently categorized by which level of service?

Correct AnswerverifiedShow Answer

Carla's Cards uses a __________ to sell and market the entire line of greeting cards.They design promotional plans,set prices,determine distribution policies,and make recommendations to Carla on product strategy.

Correct AnswerverifiedShow Answer

Figure 16-9 -Figure 16-9 above shows the wheel of retailing,which indicates that retail outlets typically go through changes with the passage of time.What stage in the wheel of retailing does "B" represent?

Correct AnswerverifiedShow Answer

Wholesalers who have a small warehouse from which they stock their trucks for distribution to retailers are referred to as __________.

Correct AnswerverifiedShow Answer

limited-service wholesaler that furnishes shelves that display merchandise in stores,performs all channel functions,and sells on consignment to retailers is referred to as a __________.

Correct AnswerverifiedShow Answer

each of the four utilities offered by retailing and with each,identify a retailer that provides that utility.

Correct AnswerverifiedThe four utilities retailing offers are:...View AnswerShow Answer

Off-price retailers,warehouse clubs,and grocery stores that require customers to bag their groceries provide what level of retail service?

Correct AnswerverifiedShow Answer

Higher paper costs,increased postage rates,the growing interest in do-not-mail legislation,and concern for "green" mailings have resulted in

Correct AnswerverifiedShow Answer

Which of the following statements regarding corporate chains is most accurate?

Correct AnswerverifiedShow Answer

group of 50 to 150 stores that typically attract customers who live or work within a 5- to 10-mile range,often containing two or three anchor stores is referred to as a __________.

Correct AnswerverifiedShow Answer

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The four utilities retailing offers are:...
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