Question 1

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.What is the percentage markup based on the selling price?

Accepted Answer

A)  0 percent
B)  36 percent
C)  64 percent
D)  100 percent
E)  156 percentF) A) and B)
G) A) and C)

Question 2

As part of their regular retail pricing strategy,some retailers will emphasize consistently low prices and eliminate most markdowns.This practice is referred to as __________.

Accepted Answer

A)  everyday low pricing
B)  low-margin pricing
C)  everyday fair pricing
D)  value-based pricing
E)  maintained pricingF) A) and B)
G) C) and D)

Question 3

The vertical dimension of the retail positioning matrix is

Accepted Answer

A)  depth of product line.
B)  relative market share.
C)  value added.
D)  breadth of product line.
E)  stage in the retail life cycle.F) B) and D)
G) A) and D)

Question 4

What is off-price retailing? Identify and give an example of the three variations of off-price retailing.

Accepted Answer

Off-price retailing involves selling bra...

Question 5

Retail outlets vary by their merchandise lines,the key distinction being the __________ and __________ of the items offered to customers.

Accepted Answer

A)  scope;span
B)  breadth;depth
C)  breadth;inventory
D)  scope;inventory
E)  range;spanF) A) and E)
G) B) and E)

Question 6

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores.These are referred to as __________.

Accepted Answer

A)  extreme value retailers
B)  warehouse clubs
C)  discount houses
D)  outlet stores
E)  community shopping centersF) A) and B)
G) D) and E)

Question 7

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 D)
G) B) and C)

Question 8

The retailing positioning matrix refers to an analytical tool that

Accepted Answer

A)  positions retail outlets in terms of the breadth of product line and value added.
B)  identifies the best location for building or leasing a retail store.
C)  identifies the specific customer base served by all stores within a given radius.
D)  identifies the most likely target market for a retail outlet based upon its size.
E)  identifies the elements of the retailing mix.F) C) and E)
G) All of the above

Question 9

A significant difference between the Mall of America and other regional shopping centers is that

Accepted Answer

A)  all MOA employees are required to be multilingual because of the store's international draw.
B)  MOA has nearly twice as much space devoted to specialty stores than to anchor stores.
C)  retail store owners can live in attached condominiums,at reduced rates,so they don't have to worry about getting to work in bad weather.
D)  employees can take classes on the premises offered through a local community college.
E)  employees get a 50% discount at all the food establishments.F) B) and C)
G) D) and E)

Question 10

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

Accepted Answer

A)  level of service
B)  market share
C)  location
D)  price
E)  number of employeesF) None of the above
G) A) and E)

Question 11

A regional bakery makes organic breads and muffins.It feels the choice of distribution channel is critical to the product's success,especially since it wants to have the product distributed nationally.However,it will take some time before sales take off,and the bakery wants to make sure the marketing program is consistent everywhere.It should use

Accepted Answer

A)  a manufacturer's agent to sell to truck jobbers who in turn will deal with retailers.
B)  its own salesforce to sell directly to retailers.
C)  the services of a selling agent to sell to general merchandise wholesalers who will sell to retailers.
D)  a dual distribution system composed of both direct and indirect wholesalers.
E)  a rack jobber who will sell to a merchant wholesaler and who will in turn sell to retailers.F) B) and E)
G) C) and D)

Question 12

Competition for the same or similar type of product or service between very dissimilar types of retail outlets that results from a scrambled merchandising policy is referred to as __________.

Accepted Answer

A)  mixed merchandising
B)  intertype competition
C)  scrambled merchandising
D)  multi-service merchandising
E)  dual distributionF) C) and D)
G) A) and C)

Question 13

Three __________ are provided by self-,limited-,and full-service retailers.

Accepted Answer

A)  levels of distribution
B)  levels of involvement
C)  levels of service
D)  service commitments
E)  merchandise linesF) A) and B)
G) None of the above

Question 14

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 store.F) D) and E)
G) A) and E)

Question 15

General merchandise stores such as Walmart,Kmart,and Target are usually considered __________ retailers.

Accepted Answer

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

Question 16

Which type of utility is created by online shopping?

Accepted Answer

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

Question 17

Which of the following statements regarding telemarketing is most accurate?

Accepted Answer

A)  Shopping bots are computers that place automated or "robo" (i.e.robotic) telemarketing calls.
B)  Direct-mail is typically viewed as more efficient means of targeting consumers than telemarketing.
C)  Telemarketing has risen in popularity as a result of the National Please-Do-Call registry legislation.
D)  Consumer privacy,industry standards,and ethical guidelines have become important issues.
E)  Some firms are considering shifting their direct-mail and door-to-door budgets to telemarketing techniques.F) B) and D)
G) B) and E)

Question 18

A customer was unable to go to the store on her own to buy gifts for the holidays.She contacted a Pampered Chef representative who came to her home,showed her not only catalogs but actual products,answered all her questions,and had all the customer's gifts sorted and delivered.This is an example of __________.

Accepted Answer

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

Question 19

Depth of product line refers to

Accepted Answer

A)  the percentage of goods stored as inventory.
B)  the variety of different product items a store carries
C)  variations in price and color on specific items in a store.
D)  the number of different product lines and items within a product line.
E)  the number of different product classes owned by a corporate chain.F) A) and C)
G) C) and D)

Question 20

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)  70%F) B) and D)
G) A) and E)

Exam 16: Retailing and Wholesaling

Retail outlets vary by their merchandise lines,the key distinction being the and of the items offered to customers.

Correct Answer
verified

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores.These are referred to as __________.

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

As part of their regular retail pricing strategy,some retailers will emphasize consistently low prices and eliminate most markdowns.This practice is referred to as __________.

Correct Answer
verified

What is off-price retailing? Identify and give an example of the three variations of off-price retailing.

Correct Answer
verified
Off-price retailing involves selling bra...
View Answer

General merchandise stores such as Walmart,Kmart,and Target are usually considered __________ retailers.

Correct Answer
verified

There are two general types of franchises:

Correct Answer
verified

Which of the following statements regarding telemarketing is most accurate?

Correct Answer
verified

The vertical dimension of the retail positioning matrix is

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

The retailing positioning matrix refers to an analytical tool that

Correct Answer
verified

Depth of product line refers to

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

A significant difference between the Mall of America and other regional shopping centers is that

Correct Answer
verified

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.What is the percentage markup based on the selling price?

Correct Answer
verified

Three __________ are provided by self-,limited-,and full-service retailers.

Correct Answer
verified

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

Correct Answer
verified

Which type of utility is created by online shopping?

Correct Answer
verified

Competition for the same or similar type of product or service between very dissimilar types of retail outlets that results from a scrambled merchandising policy is referred to as __________.

Correct Answer
verified

Exam 16: Retailing and Wholesaling

Retail outlets vary by their merchandise lines,the key distinction being the __________ and __________ of the items offered to customers.

Correct AnswerverifiedShow Answer

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores.These are referred to as __________.

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

As part of their regular retail pricing strategy,some retailers will emphasize consistently low prices and eliminate most markdowns.This practice is referred to as __________.

Correct AnswerverifiedShow Answer

What is off-price retailing? Identify and give an example of the three variations of off-price retailing.

Correct AnswerverifiedOff-price retailing involves selling bra...View AnswerShow Answer

General merchandise stores such as Walmart,Kmart,and Target are usually considered __________ retailers.

Correct AnswerverifiedShow Answer

There are two general types of franchises:

Correct AnswerverifiedShow Answer

Which of the following statements regarding telemarketing is most accurate?

Correct AnswerverifiedShow Answer

The vertical dimension of the retail positioning matrix is

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

The retailing positioning matrix refers to an analytical tool that

Correct AnswerverifiedShow Answer

Depth of product line refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A significant difference between the Mall of America and other regional shopping centers is that

Correct AnswerverifiedShow Answer

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.What is the percentage markup based on the selling price?

Correct AnswerverifiedShow Answer

Three __________ are provided by self-,limited-,and full-service retailers.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which type of utility is created by online shopping?

Correct AnswerverifiedShow Answer

Competition for the same or similar type of product or service between very dissimilar types of retail outlets that results from a scrambled merchandising policy is referred to as __________.

Correct AnswerverifiedShow Answer

Retail outlets vary by their merchandise lines,the key distinction being the and of the items offered to customers.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Off-price retailing involves selling bra...
View 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
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Correct Answer
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Correct Answer
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Correct Answer
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