Question 1

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) B) and E)
G) D) and E)

Question 2

In the direct mail and catalog retailing,the "P" in the acronym "PURL" stands for __________.[NOTE: "URL" stands for "uniform resource locator," which is also known as a website address,such as www.apple.com.]

Accepted Answer

A)  personalized
B)  pre-sorted
C)  pre-loaded
D)  proactive
E)  portableF) B) and D)
G) All of the above

Question 3

By selling franchises,an organization __________ the cost of expansion and __________ its control compared to owning its own retail outlets.

Accepted Answer

A)  increases;increases
B)  increases;reduces
C)  reduces;increases
D)  increases;retains almost all
E)  reduces;reducesF) B) and E)
G) B) and C)

Question 4

Jim Smith is an avid fly fisherman who lives in Deer Key,FL.For his hobby,Jim needs large rubber rafts,hip waders,special fishing rods,reels,line,and an assortment of fishing tackle and lures.There are no sporting goods stores in Deer Key,so Jim orders his fishing supplies from the L.L.Bean catalog.His supplies are generally delivered to his home within 72 hours.Jim is using a __________ to satisfy his fishing supply needs.

Accepted Answer

A)  home delivery retailer
B)  quick response retailer
C)  direct-mail marketer
D)  flexible response marketer
E)  regional marketerF) A) and B)
G) All of the above

Question 5

Scrambled merchandising refers to

Accepted Answer

A)  displaying merchandise throughout a store rather than keeping all similar items together in rows on a shelf or point of purchase displays.
B)  offering several unrelated product lines in a single store.
C)  changing where items are displayed in a store to create customer interest to a variety of product lines.
D)  offering several related product lines in multiple stores.
E)  offering several related product lines in a single store.F) B) and C)
G) A) and E)

Question 6

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

Accepted Answer

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

Question 7

When Home Depot switched its in-store light fixture displays to compact fluorescent light and LED light bulbs,painted the roofs of its stores white,and installed solar panels,it reduced its energy use by __________ percent.

Accepted Answer

A)  5
B)  10
C)  15
D)  20
E)  25F) B) and D)
G) B) and E)

Question 8

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

Accepted Answer

A)  exurb value center
B)  urban megacenter
C)  suburban downtown
D)  regional shopping center
E)  rural micromallF) A) and E)
G) D) and E)

Question 9

During which stage of the retail life cycle do companies establish multiple outlets?

Accepted Answer

A)  decline
B)  maturity
C)  accelerated development
D)  introduction
E)  early growthF) A) and D)
G) B) and E)

Question 10

Bloomingdale's stores are part of the __________ corporate chain.

Accepted Answer

A)  Dillard's
B)  Macy's
C)  Target's
D)  Walmart's
E)  Saks Fifth Avenue'sF) B) and E)
G) C) and D)

Question 11

Intangibles,such as a sense of belonging,excitement,style,or warmth,are considered to be __________ of a store's image.

Accepted Answer

A)  functional qualities
B)  sociological qualities
C)  psychological attributes
D)  antecedent attributes
E)  personality elementsF) None of the above
G) D) and E)

Question 12

By requiring its toy suppliers to trim one square-inch of packaging from its lines,Walmart reduced packaging by __________ tons.

Accepted Answer

A)  3,000
B)  3,500
C)  4,000
D)  4,500
E)  5,000F) C) and D)
G) B) and D)

Question 13

A manufacturer's branch office

Accepted Answer

A)  carries a producer's inventory and performs the functions of a full-service wholesaler.
B)  performs a sales function as an option to agents and brokers.
C)  works for several producers and carries noncompetitive,complementary merchandise in an exclusive territory.
D)  takes title to merchandise but sells only to buyers who call on them,pays cash for merchandise,and furnishes their own transportation for the merchandise.
E)  brings buyers and sellers together to make sales.F) A) and B)
G) A) and D)

Question 14

Explain the dimensions of the retail positioning matrix and give an example of a store that would be located in each quadrant of the matrix.

Accepted Answer

The retail positioning matrix is a matri...

Question 15

The difference between the final selling price and the retailer's cost is referred to as a(n) __________.

Accepted Answer

A)  original markup
B)  maintained markup
C)  markdown
D)  differential markup
E)  discounted priceF) D) and E)
G) All of the above

Question 16

An IKEA mail order catalog is an example of __________ retailing.

Accepted Answer

A)  intrusive
B)  intertype
C)  scrambled
D)  nonstore
E)  hypermarketF) A) and E)
G) D) and E)

Question 17

Offering several unrelated product lines in a single store is referred to as __________.

Accepted Answer

A)  intertype competition
B)  multiple distribution
C)  scrambled merchandising
D)  a department store
E)  a specialty outletF) A) and B)
G) B) and D)

Question 18

Explain the difference between a hypermarket and a supercenter.

Accepted Answer

The hypermarket is a form of scrambled m...

Question 19

Managing the breadth and depth of merchandise available from many manufacturers requires retail buyers who are

Accepted Answer

A)  efficient and effective managers.
B)  familiar with the needs of the target market.
C)  experienced shoppers.
D)  familiar with retail inventory management.
E)  product champions.F) A) and B)
G) C) and D)

Question 20

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as a(n) __________.

Accepted Answer

A)  markup
B)  markdown
C)  original markup
D)  maintained markup
E)  cost-plus markupF) A) and B)
G) C) and D)

Exam 16: Retailing and Wholesaling

Offering several unrelated product lines in a single store is referred to as __________.

Correct Answer
verified

By selling franchises,an organization the cost of expansion and its control compared to owning its own retail outlets.

Correct Answer
verified

Explain the difference between a hypermarket and a supercenter.

Correct Answer
verified
The hypermarket is a form of scrambled m...
View Answer

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

Correct Answer
verified

Intangibles,such as a sense of belonging,excitement,style,or warmth,are considered to be __________ of a store's image.

Correct Answer
verified

Correct Answer
verified

During which stage of the retail life cycle do companies establish multiple outlets?

Correct Answer
verified

An IKEA mail order catalog is an example of __________ retailing.

Correct Answer
verified

When Home Depot switched its in-store light fixture displays to compact fluorescent light and LED light bulbs,painted the roofs of its stores white,and installed solar panels,it reduced its energy use by __________ percent.

Correct Answer
verified

Explain the dimensions of the retail positioning matrix and give an example of a store that would be located in each quadrant of the matrix.

Correct Answer
verified
The retail positioning matrix is a matri...
View Answer

In the direct mail and catalog retailing,the "P" in the acronym "PURL" stands for __________.[NOTE: "URL" stands for "uniform resource locator," which is also known as a website address,such as www.apple.com.]

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Scrambled merchandising refers to

Correct Answer
verified

The difference between the final selling price and the retailer's cost is referred to as a(n) __________.

Correct Answer
verified

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as a(n) __________.

Correct Answer
verified

By requiring its toy suppliers to trim one square-inch of packaging from its lines,Walmart reduced packaging by __________ tons.

Correct Answer
verified

Managing the breadth and depth of merchandise available from many manufacturers requires retail buyers who are

Correct Answer
verified

A manufacturer's branch office

Correct Answer
verified

Bloomingdale's stores are part of the __________ corporate chain.

Correct Answer
verified

Exam 16: Retailing and Wholesaling

Offering several unrelated product lines in a single store is referred to as __________.

Correct AnswerverifiedShow Answer

By selling franchises,an organization __________ the cost of expansion and __________ its control compared to owning its own retail outlets.

Correct AnswerverifiedShow Answer

Explain the difference between a hypermarket and a supercenter.

Correct AnswerverifiedThe hypermarket is a form of scrambled m...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Intangibles,such as a sense of belonging,excitement,style,or warmth,are considered to be __________ of a store's image.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

During which stage of the retail life cycle do companies establish multiple outlets?

Correct AnswerverifiedShow Answer

An IKEA mail order catalog is an example of __________ retailing.

Correct AnswerverifiedShow Answer

When Home Depot switched its in-store light fixture displays to compact fluorescent light and LED light bulbs,painted the roofs of its stores white,and installed solar panels,it reduced its energy use by __________ percent.

Correct AnswerverifiedShow Answer

Explain the dimensions of the retail positioning matrix and give an example of a store that would be located in each quadrant of the matrix.

Correct AnswerverifiedThe retail positioning matrix is a matri...View AnswerShow Answer

In the direct mail and catalog retailing,the "P" in the acronym "PURL" stands for __________.[NOTE: "URL" stands for "uniform resource locator," which is also known as a website address,such as www.apple.com.]

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 mall,the power center,or the __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Scrambled merchandising refers to

Correct AnswerverifiedShow Answer

The difference between the final selling price and the retailer's cost is referred to as a(n) __________.

Correct AnswerverifiedShow Answer

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as a(n) __________.

Correct AnswerverifiedShow Answer

By requiring its toy suppliers to trim one square-inch of packaging from its lines,Walmart reduced packaging by __________ tons.

Correct AnswerverifiedShow Answer

Managing the breadth and depth of merchandise available from many manufacturers requires retail buyers who are

Correct AnswerverifiedShow Answer

A manufacturer's branch office

Correct AnswerverifiedShow Answer

Bloomingdale's stores are part of the __________ corporate chain.

Correct AnswerverifiedShow Answer

Correct Answer
verified

By selling franchises,an organization the cost of expansion and its control compared to owning its own retail outlets.

Correct Answer
verified

Correct Answer
verified
The hypermarket is a form of scrambled m...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The retail positioning matrix is a matri...
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
verified

Correct Answer
verified