Question 1

As a result of legislation,consumers who do not want to receive telephone calls related to a company sales efforts can

Accepted Answer

A)  purchase telephones that block unwanted calls.
B)  place their telephone numbers on the National Do-Not-Call Registry.
C)  request phone numbers that begin with the area code 555 that automatically block telemarketing solicitors.
D)  request phone numbers that begin with the area code 888 that automatically block telemarketing solicitors.
E)  use an unlisted telephone number.F) D) and E)
G) A) and D)

Question 2

Which quadrant shown in Figure 16-8 above MOST LIKELY are specialty mass merchandisers that (1) appeal to value-conscious consumers, (2) achieve economies of scale through centralized advertising,merchandising,buying,and distribution, (3) usually have the same design,layout,and merchandise,and (4) are often referred to as "cookie-cutter" stores?

Accepted Answer

A)  "A"
B)  "B"
C)  "C"
D)  "D"
E)  Can't be determined based on the information provided.F) B) and C)
G) C) and D)

Question 3

Retailing's economic impact is represented by the __________.

Accepted Answer

A)  the price asked for any one item for sale
B)  the cost of goods sold
C)  the net return on capital
D)  the elimination of global boundaries
E)  the annual sales of retailersF) A) and D)
G) A) and B)

Question 4

A retail outlet that focuses on one type of product at very competitive or discount prices and often dominates the market is referred to as a __________.

Accepted Answer

A)  general merchandise store
B)  value outlet
C)  hypermarket
D)  category killer
E)  department storeF) A) and B)
G) B) and E)

Question 5

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 branch or sales offices.
E)  merchant wholesalers.F) B) and E)
G) B) and D)

Question 6

Retailers that integrate and leverage their stores,catalogs,and websites have seen

Accepted Answer

A)  a sizeable increase in yearly sales from individual customers.
B)  a small increase in yearly sales from aggregate target market segments.
C)  no difference in yearly sales from individual customers.
D)  a decrease in yearly sales from individual customers.
E)  a large decrease in yearly sales from individual customers.F) A) and C)
G) All of the above

Question 7

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as __________.

Accepted Answer

A)  brokers
B)  line brokers
C)  selling agents
D)  distribution brokers
E)  manufacturer's agentsF) A) and B)
G) A) and C)

Question 8

One way to assess the importance of retailing to the U.S.and global economies is to measure the

Accepted Answer

A)  price asked for any one item.
B)  cost of goods sold.
C)  net return on capital.
D)  annual sales of retailers.
E)  progress towards eliminating of global boundaries.F) A) and B)
G) A) and D)

Question 9

Sales per square foot is calculated by dividing

Accepted Answer

A)  profit margin by selling area in square feet.
B)  gross profit by selling area in square feet.
C)  total sales by selling area in square feet.
D)  return on investment by selling area in square feet.
E)  net sales by selling area in square feet.F) C) and D)
G) A) and B)

Question 10

Intermediaries that work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory are referred to as __________.

Accepted Answer

A)  selling agents
B)  line brokers
C)  distribution brokers
D)  manufacturer's agents
E)  brokersF) B) and D)
G) B) and C)

Question 11

Coal,lumber,and chemicals,which are sold in extremely large quantities,are traditionally sold by which type of wholesaler?

Accepted Answer

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

Question 12

In the past,television home shopping programs have attracted mostly

Accepted Answer

A)  20 to 30 year old men.
B)  30 to 40 year old women.
C)  40 to 50 year old men.
D)  40 to 60 year old women.
E)  50 to 60 year old men.F) A) and B)
G) B) and E)

Question 13

Freightfinder.com is an Internet company that is called a "go-between." If a trucker needs to find a load for a particular trade lane,he or she can visit this site,list the price and available truck space,and find a company that needs a shipment moved.Since the purpose of this website is to put buyer and sellers together so that a single sale can be made,this website can be categorized as a(n) __________.

Accepted Answer

A)  selling agent
B)  manufacturer's representative
C)  manufacturer's agent
D)  broker
E)  administratorF) A) and D)
G) B) and D)

Question 14

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) A) and C)

Question 15

Which of the following statements about outlet stores is FALSE?

Accepted Answer

A)  Outlets allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary store.
B)  The recessionary economic climate has increased demand for this type of off-price retailing.
C)  Increasingly,retailers are offering merchandise made expressly for the outlet division.
D)  Manufacturers use outlet stores to clear excess merchandise.
E)  Outlet stores attract customers who want a "corner store" environment.F) B) and E)
G) B) and C)

Question 16

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) C) and E)
G) D) and E)

Question 17

__________ retailers utilize and integrate a combination of traditional store formats and nonstore formats.

Accepted Answer

A)  Progressive
B)  Opportunistic
C)  Multichannel
D)  Cluster
E)  PowerF) None of the above
G) C) and E)

Question 18

Specialty discount stores that dominate the market are referred to as __________.

Accepted Answer

A)  hypermarkets
B)  category killers
C)  value outlets
D)  regional dominators
E)  general merchandise storesF) C) and D)
G) B) and E)

Question 19

The 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) D) and E)
G) A) and E)

Question 20

When Paulette first saw the dress in the store window,she knew two things.She had to own the dress,and she could not afford it at its current price.Disappointed,she left.Two weeks later,she passed by the store again and saw that the price of the dress had been reduced to one that she could afford.Specifically,the store had reduced the price by 30 percent to "move" it.Paulette was able to purchase the dress because of a(n)

Accepted Answer

A)  negative markup.
B)  markup elimination.
C)  markdown.
D)  liquidity reduction.
E)  increase in net margin.F) B) and C)
G) None of the above

Exam 16: Retailing and Wholesaling

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

Correct Answer
verified

Intermediaries that work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory are referred to as __________.

Correct Answer
verified

A retail outlet that focuses on one type of product at very competitive or discount prices and often dominates the market is referred to as a __________.

Correct Answer
verified

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

Correct Answer
verified

Sales per square foot is calculated by dividing

Correct Answer
verified

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as __________.

Correct Answer
verified

Which of the following statements about outlet stores is FALSE?

Correct Answer
verified

Correct Answer
verified

Specialty discount stores that dominate the market are referred to as __________.

Correct Answer
verified

As a result of legislation,consumers who do not want to receive telephone calls related to a company sales efforts can

Correct Answer
verified

Retailers that integrate and leverage their stores,catalogs,and websites have seen

Correct Answer
verified

In the past,television home shopping programs have attracted mostly

Correct Answer
verified

Correct Answer
verified

Retailing's economic impact is represented by the __________.

Correct Answer
verified

Correct Answer
verified

__________ retailers utilize and integrate a combination of traditional store formats and nonstore formats.

Correct Answer
verified

One way to assess the importance of retailing to the U.S.and global economies is to measure the

Correct Answer
verified

Off-price retailing refers to the

Correct Answer
verified

Coal,lumber,and chemicals,which are sold in extremely large quantities,are traditionally sold by which type of wholesaler?

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

Exam 16: Retailing and Wholesaling

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

Correct AnswerverifiedShow Answer

Intermediaries that work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory are referred to as __________.

Correct AnswerverifiedShow Answer

A retail outlet that focuses on one type of product at very competitive or discount prices and often dominates the market is referred to as a __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Sales per square foot is calculated by dividing

Correct AnswerverifiedShow Answer

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as __________.

Correct AnswerverifiedShow Answer

Which of the following statements about outlet stores is FALSE?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Specialty discount stores that dominate the market are referred to as __________.

Correct AnswerverifiedShow Answer

As a result of legislation,consumers who do not want to receive telephone calls related to a company sales efforts can

Correct AnswerverifiedShow Answer

Retailers that integrate and leverage their stores,catalogs,and websites have seen

Correct AnswerverifiedShow Answer

In the past,television home shopping programs have attracted mostly

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Retailing's economic impact is represented by the __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

__________ retailers utilize and integrate a combination of traditional store formats and nonstore formats.

Correct AnswerverifiedShow Answer

One way to assess the importance of retailing to the U.S.and global economies is to measure the

Correct AnswerverifiedShow Answer

Off-price retailing refers to the

Correct AnswerverifiedShow Answer

Coal,lumber,and chemicals,which are sold in extremely large quantities,are traditionally sold by which type of wholesaler?

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

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

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