Question 1

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 store.F) C) and D)
G) A) and B)

Question 2

Price ranges,store layouts,and breadth and depth of merchandise lines are considered to be the __________ of a store's image.

Accepted Answer

A)   functional qualities
B)   sociological qualities
C)   psychological attributes
D)   lifestyle attributes
E)   atmospheric elementsF) D) and E)
G) B) and E)

Question 3

According to the retail life cycle,in which stage would market share rise gradually,although profits may be low because of start-up costs?

Accepted Answer

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

Question 4

Wholesalers that handle a limited assortment of fast-moving or perishable items that are sold for cash directly from trucks in their original packages are referred to as

Accepted Answer

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

Question 5

Both market share and profit achieve their greatest growth rates during which stage of the retail life cycle?

Accepted Answer

A)   decline
B)   maturity
C)   introduction
D)   early growth
E)   accelerated developmentF) C) and E)
G) A) and C)

Question 6

Originally,filters for Mr.Coffee electric-drip coffeemakers 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)   a drop shipper
C)   a food broker
D)   a truck jobber
E)   a manufacturer's representativeF) B) and E)
G) A) and B)

Question 7

Store layout,colors,lighting,and music are all considered part of a store's retail

Accepted Answer

A)   sensory management plan.
B)   measurable attributes.
C)   antecedent attributes.
D)   emotive appeal.
E)   atmosphere.F) B) and E)
G) A) and C)

Question 8

Which of the following statements regarding direct selling is most accurate?

Accepted Answer

A)   Unlike other forms of nonstore retailing, direct selling takes place in the business market.
B)   Direct selling is found exclusively in the United States.
C)   Direct selling succeeds because it provides customers with a social shopping experience.
D)   Direct sales have been declining rapidly in the United States since the 1980s.
E)   By definition, direct selling can only take place in a home.F) None of the above
G) B) and C)

Question 9

Manufacturers' agent refers to agents who

Accepted Answer

A)   represent a single producer and carry all products in the producer's lines.
B)   work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.
C)   take title to merchandise but sell only to buyers that call on them, pay cash for merchandise, and furnish their own transportation for merchandise.
D)   own the merchandise they sell but do not physically handle, stock, or deliver it.
E)   furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.F) C) and D)
G) A) and B)

Question 10

Not every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores usually

Accepted Answer

A)   is unplanned.
B)   includes national anchor stores.
C)   is restricted to privately owned specialty stores.
D)   is mainly fast-food restaurants.
E)   includes amusement or theme parks.F) A) and C)
G) A) and D)

Question 11

Many retailers take a markdown as soon as sales fall to free valuable selling space and cash.This illustrates one tactic for handling the __________ of markdowns.

Accepted Answer

A)   timing
B)   demand
C)   availability
D)   bargain hunting
E)   customer valueF) A) and B)
G) A) and C)

Question 12

Explain why direct mail and catalogs are an attractive form of retailing.

Accepted Answer

Direct-mail and catalog retailing are "t...

Question 13

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 pricing.F) None of the above
G) B) and C)

Question 14

Figure 13-5

-According to Figure 13-5,D represents which stage of the retail life cycle?

Accepted Answer

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

Question 15

Mall of America has four __________ stores: Nordstrom,Macy's,Bloomingdale's,and Sears.

Accepted Answer

A)   strip mall
B)   local competitor
C)   broker
D)   retailing mix
E)   anchorF) A) and D)
G) None of the above

Question 16

Wholesalers that simply solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer are referred to as

Accepted Answer

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

Question 17

Stores that carry tremendous depth in one primary line of merchandise are referred to as

Accepted Answer

A)   hypermarkets.
B)   intertype outlets.
C)   scrambled merchandise stores.
D)   limited-line stores.
E)   single-line stores.F) A) and B)
G) None of the above

Question 18

Which type of wholesaler traditionally sells hosiery,toys,and health and beauty items?

Accepted Answer

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

Question 19

Outlets where customers are responsible for most shopping activities,although salespeople are available in some departments,would be classified as __________ retail outlets.

Accepted Answer

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

Question 20

Stores that carry a broad product line,with limited depth,are referred to as

Accepted Answer

A)   limited-line stores.
B)   general merchandise stores.
C)   scrambled merchandise stores.
D)   hypermarkets.
E)   intertype outlets.F) C) and D)
G) A) and B)

Exam 13: Retailing and Wholesaling

Stores that carry a broad product line,with limited depth,are referred to as

Correct AnswerverifiedShow Answer

According to the retail life cycle,in which stage would market share rise gradually,although profits may be low because of start-up costs?

Correct AnswerverifiedShow Answer

Both market share and profit achieve their greatest growth rates during which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

Which type of wholesaler traditionally sells hosiery,toys,and health and beauty items?

Correct AnswerverifiedShow Answer

Store layout,colors,lighting,and music are all considered part of a store's retail

Correct AnswerverifiedShow Answer

Which of the following statements regarding direct selling is most accurate?

Correct AnswerverifiedShow Answer

Many retailers take a markdown as soon as sales fall to free valuable selling space and cash.This illustrates one tactic for handling the __________ of markdowns.

Correct AnswerverifiedShow Answer

Wholesalers that simply solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer are referred to as

Correct AnswerverifiedShow Answer

Outlets where customers are responsible for most shopping activities,although salespeople are available in some departments,would be classified as __________ retail outlets.

Correct AnswerverifiedShow Answer

Not every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores usually

Correct AnswerverifiedShow Answer

Manufacturers' agent refers to agents who

Correct AnswerverifiedShow Answer

Wholesalers that handle a limited assortment of fast-moving or perishable items that are sold for cash directly from trucks in their original packages are referred to as

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

Stores that carry tremendous depth in one primary line of merchandise are referred to as

Correct AnswerverifiedShow Answer

Explain why direct mail and catalogs are an attractive form of retailing.

Correct AnswerverifiedDirect-mail and catalog retailing are "t...View AnswerShow Answer

Price ranges,store layouts,and breadth and depth of merchandise lines are considered to be the __________ of a store's image.

Correct AnswerverifiedShow Answer

Figure 13-5 -According to Figure 13-5,D represents which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

Originally,filters for Mr.Coffee electric-drip coffeemakers 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

Mall of America has four __________ stores: Nordstrom,Macy's,Bloomingdale's,and Sears.

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

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Direct-mail and catalog retailing are "t...
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