Question 1

type of contractual system describes a situation where assistance in selecting the location,setting up the store or facility,advertising,and training personnel is provided?

Accepted Answer

A)   administered system
B)   conglomerate system
C)   franchise system
D)   vertical integrated system
E)   retail-sponsored cooperativeF) None of the above
G) A) and B)

Question 2

Intermediaries that represent a single producer and are responsible for designing promotional plans,setting prices,determining distribution policies,and making recommendations on product strategy are referred to as _________.

Accepted Answer

A)   brokers
B)   line brokers
C)   distribution brokers
D)   selling agents
E)   manufacturer's agentsF) A) and C)
G) None of the above

Question 3

Vending machines are no longer limited by the need for cash.In Japan,Korea,and the Philippines,consumers use mobile phones that transmit payments to vending machines via an infrared beam or a radio wave.This is an example of how vending machines can provide which type of utility?

Accepted Answer

A)   time
B)   place
C)   possession
D)   product
E)   formF) B) and C)
G) A) and C)

Question 4

method of classification that describes the degree of service provided to the customer is referred to as _________.

Accepted Answer

A)   product involvement
B)   product assortment
C)   merchandise line
D)   level of service
E)   form of ownershipF) C) and D)
G) C) and E)

Question 5

Several television shopping programs are developing online platforms,which may attract as many as 50 percent of all new customers,and interactive technology,that allows viewers to place orders

Accepted Answer

A)   without having to pay sales tax.
B)   without having to pay for shipping or handling.
C)   through online company websites.
D)   with a "double your money back guarantee" if the items are not delivered within 24 hours.
E)   with their remote control rather than the telephone.F) A) and E)
G) C) and E)

Question 6

Discounting a product when the product does not sell at the original price is referred to as __________.

Accepted Answer

A)   inverse markup
B)   markdown
C)   price sensitivity
D)   concession pricing
E)   rebateF) A) and E)
G) B) and E)

Question 7

difference between the retailer's cost and the initial selling price is referred to as __________.

Accepted Answer

A)   markup
B)   maintained markup
C)   markdown
D)   differential markup
E)   original markupF) None of the above
G) A) and E)

Question 8

Figure 16-8
-Which of the following stores would best fit in "A" shown in Figure 16-8 above?

Accepted Answer

A)   Payless ShoeSource
B)   Macy's department store
C)   7-Eleven convenience store
D)   Walmart
E)   Lamborghini automobile dealerF) C) and E)
G) B) and E)

Question 9

National Retail Federation estimates that about __________ percent of retail shrinkage is due to employee theft.

Accepted Answer

A)   14
B)   24
C)   34
D)   44
E)   54F) A) and B)
G) C) and D)

Question 10

Figure 16-10
-According to Figure 16-10 above,"D" represents which stage of the retail life cycle?

Accepted Answer

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

Question 11

wholesaler that carries a narrow range of products and performs all channel functions is referred to as a __________.

Accepted Answer

A)   general merchandise wholesaler
B)   truck jobber
C)   specialty merchandise wholesaler
D)   rack jobber
E)   drop shipperF) C) and D)
G) A) and E)

Question 12

Outlets such as the Checkers Drive-In Restaurant,typically enter the wheel of retailing as

Accepted Answer

A)   low status, low-margin stores.
B)   high status, high-margin stores.
C)   moderate status, low-margin stores.
D)   high price, high-margin stores.
E)   mixed price, mixed status stores.F) C) and E)
G) None of the above

Question 13

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 branches and sales offices.
E)   merchant wholesalers.F) None of the above
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) D) and E)
G) B) and D)

Question 15

Which type of store gives shoppers the greatest variety of merchandise?

Accepted Answer

A)   a hypermarket
B)   a specialty clothing store
C)   a limited-line gift store
D)   a clothing outlet
E)   a discount storeF) C) and D)
G) B) and E)

Question 16

Wholesalers that carry a broad assortment of merchandise and perform all channel functions are referred to as a __________.

Accepted Answer

A)   limited-line wholesaler
B)   drop shipper
C)   rack jobber
D)   specialty merchandise wholesaler
E)   general merchandise wholesalerF) C) and D)
G) None of the above

Question 17

central business district refers to

Accepted Answer

A)   a suburban mall that contains up to 100 stores and draws customer from 5 to 10 miles away.
B)   the oldest retailing setting, located in a community's downtown area.
C)   a retail location that typically has one primary store and about 20 to 40 smaller outlets, and serves a population base of about 100,000.
D)   a cluster of stores that serves people who are within a five- to ten-minute drive and serves a population base of under 30,000.
E)   a collection of large stores over 100,000 square feet that offers a mix of about 40 percent food products and 60 percent general merchandise items.F) A) and B)
G) A) and E)

Question 18

wholesalers that perform all channel functions and are found in the health foods,automotive parts,and seafood industries would be _________.

Accepted Answer

A)   specialty wholesalers
B)   full-line wholesalers
C)   limited-wholesalers
D)   universal wholesalers
E)   cash and carry wholesalersF) C) and D)
G) A) and D)

Question 19

Enterprise car rental agency differentiates itself from other similar agencies by providing a delivery service.This delivery service is particularly valuable to someone who has been left stranded without transportation.By making it easy to rent temporary transportation,Enterprise is emphasizing which utility?

Accepted Answer

A)   form
B)   product
C)   service
D)   possession
E)   convenienceF) D) and E)
G) C) and E)

Question 20

Originally,filters for Mr.Coffee electric-drip coffee makers were sold through appliance and mass merchandise stores.If the company decided to sell the filters in grocery stores where customers purchased their coffee,what type of intermediaries would the company most likely hire?

Accepted Answer

A)   a full-line wholesaler
B)   drop shippers
C)   food brokers
D)   truck jobbers
E)   manufacturer's representativesF) None of the above
G) D) and E)

Exam 16: Retailing and Wholesaling

Several television shopping programs are developing online platforms,which may attract as many as 50 percent of all new customers,and interactive technology,that allows viewers to place orders

Correct Answer
verified

Originally,filters for Mr.Coffee electric-drip coffee makers were sold through appliance and mass merchandise stores.If the company decided to sell the filters in grocery stores where customers purchased their coffee,what type of intermediaries would the company most likely hire?

Correct Answer
verified

Discounting a product when the product does not sell at the original price is referred to as __________.

Correct Answer
verified

Vending machines are no longer limited by the need for cash.In Japan,Korea,and the Philippines,consumers use mobile phones that transmit payments to vending machines via an infrared beam or a radio wave.This is an example of how vending machines can provide which type of utility?

Correct Answer
verified

wholesalers that perform all channel functions and are found in the health foods,automotive parts,and seafood industries would be _________.

Correct Answer
verified

Outlets such as the Checkers Drive-In Restaurant,typically enter the wheel of retailing as

Correct Answer
verified

method of classification that describes the degree of service provided to the customer is referred to as _________.

Correct Answer
verified

National Retail Federation estimates that about __________ percent of retail shrinkage is due to employee theft.

Correct Answer
verified

wholesaler that carries a narrow range of products and performs all channel functions is referred to as a __________.

Correct Answer
verified

difference between the retailer's cost and the initial selling price is referred to as __________.

Correct Answer
verified

central business district refers to

Correct Answer
verified

Figure 16-8 -Which of the following stores would best fit in "A" shown in Figure 16-8 above?

Correct Answer
verified

type of contractual system describes a situation where assistance in selecting the location,setting up the store or facility,advertising,and training personnel is provided?

Correct Answer
verified

Correct Answer
verified

Which type of store gives shoppers the greatest variety of merchandise?

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Wholesalers that carry a broad assortment of merchandise and perform all channel functions are referred to as a __________.

Correct Answer
verified

Figure 16-10 -According to Figure 16-10 above,"D" represents which stage of the retail life cycle?

Correct Answer
verified

Intermediaries that represent a single producer and are responsible for designing promotional plans,setting prices,determining distribution policies,and making recommendations on product strategy are referred to as _________.

Correct Answer
verified

Exam 16: Retailing and Wholesaling

Several television shopping programs are developing online platforms,which may attract as many as 50 percent of all new customers,and interactive technology,that allows viewers to place orders

Correct AnswerverifiedShow Answer

Originally,filters for Mr.Coffee electric-drip coffee makers were sold through appliance and mass merchandise stores.If the company decided to sell the filters in grocery stores where customers purchased their coffee,what type of intermediaries would the company most likely hire?

Correct AnswerverifiedShow Answer

Discounting a product when the product does not sell at the original price is referred to as __________.

Correct AnswerverifiedShow Answer

Vending machines are no longer limited by the need for cash.In Japan,Korea,and the Philippines,consumers use mobile phones that transmit payments to vending machines via an infrared beam or a radio wave.This is an example of how vending machines can provide which type of utility?

Correct AnswerverifiedShow Answer

wholesalers that perform all channel functions and are found in the health foods,automotive parts,and seafood industries would be _________.

Correct AnswerverifiedShow Answer

Outlets such as the Checkers Drive-In Restaurant,typically enter the wheel of retailing as

Correct AnswerverifiedShow Answer

method of classification that describes the degree of service provided to the customer is referred to as _________.

Correct AnswerverifiedShow Answer

National Retail Federation estimates that about __________ percent of retail shrinkage is due to employee theft.

Correct AnswerverifiedShow Answer

wholesaler that carries a narrow range of products and performs all channel functions is referred to as a __________.

Correct AnswerverifiedShow Answer

difference between the retailer's cost and the initial selling price is referred to as __________.

Correct AnswerverifiedShow Answer

central business district refers to

Correct AnswerverifiedShow Answer

Figure 16-8 -Which of the following stores would best fit in "A" shown in Figure 16-8 above?

Correct AnswerverifiedShow Answer

type of contractual system describes a situation where assistance in selecting the location,setting up the store or facility,advertising,and training personnel is provided?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which type of store gives shoppers the greatest variety of merchandise?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Wholesalers that carry a broad assortment of merchandise and perform all channel functions are referred to as a __________.

Correct AnswerverifiedShow Answer

Figure 16-10 -According to Figure 16-10 above,"D" represents which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

Intermediaries that represent a single producer and are responsible for designing promotional plans,setting prices,determining distribution policies,and making recommendations on product strategy are referred to as _________.

Correct AnswerverifiedShow Answer

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