Question 1

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) B) and D)
G) A) and C)

Question 2

Which type of utility is created by online shopping?

Accepted Answer

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

Question 3

Your local Target retailer carries a variety of different items. You can find everything ranging from socks and DVDs to baby items and groceries. This is an example of the __________ carried by Target.

Accepted Answer

A)  breadth of product line
B)  depth of product line
C)  variety of brand extension
D)  breadth of product class
E)  product mixF) B) and C)
G) C) and D)

Question 4

Which type of outlet is most likely in its early growth stage of the retail life cycle?

Accepted Answer

A)  single-price stores
B)  online retailers
C)  supermarkets
D)  warehouse clubs
E)  business-district retailersF) C) and D)
G) A) and C)

Question 5

Usage of specialty catalogs, like those from firms like IKEA, Crate and Barrel, and L.L. Bean have been affected by all of the following factors EXCEPT:

Accepted Answer

A)  influence of larger retailers as their marketing activities have increased the number and variety of products consumers purchase through direct mail and catalogs.
B)  higher paper costs, an increase in postage rates, and the possibility of the U.S. Postal Service reducing delivery to five days a week.
C)  the growing interest in do-not-mail legislation.
D)  the concern for "green" mailings and catalogs.
E)  the growing influence of television home catalog shopping where consumers view the products they are interested in and then order those they want over the telephoneF) A) and B)
G) B) and C)

Question 6

Emphasizing consistently low prices and eliminating most markdowns is referred to as __________.

Accepted Answer

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

Question 7

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

Accepted Answer

A)  gross margin
B)  maintained markup
C)  markdown
D)  differential markup
E)  original markupF) A) and E)
G) A) and B)

Question 8

The three basic types of contractual systems are:

Accepted Answer

A)  retailer-sponsored cooperatives, wholesaler-sponsored voluntary chains, and franchises.
B)  dual ownership agreements, industry consortiums, and non-binding cooperatives.
C)  wholesaler-sponsored voluntary chains, non-binding cooperatives, and franchises.
D)  dual ownership agreements, industry consortiums, and multi-national cartels.
E)  non-binding, binding, and in perpetuity.F) All of the above
G) B) and E)

Question 9

Freightfinder.com is an Internet company that acts as 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) B) and E)
G) A) and C)

Question 10

Independently owned firms that take title to the merchandise they handle are referred to as

Accepted Answer

A)  brokers.
B)  agencies.
C)  virtual retailers.
D)  merchant wholesalers.
E)  merchant retailers.F) A) and B)
G) B) and C)

Question 11

The four major types of limited-service merchant wholesalers are cash and carry wholesalers, drop shippers, truck jobbers, and __________.

Accepted Answer

A)  display vendors
B)  rack jobbers
C)  point of purchase wholesalers
D)  transport vendors
E)  container transport vendorsF) B) and C)
G) B) and E)

Question 12

All of the following retailers provide self-service to their customers EXCEPT:

Accepted Answer

A)  Marley Coffee.
B)  Shop24.
C)  Target.
D)  Redbox.
E)  Costco.F) B) and D)
G) C) and D)

Question 13

-According to Figure 13-5 above, market share reaches its highest level during which stage of the retail life cycle?

Accepted Answer

A)  early growth
B)  accelerated development
C)  decline
D)  maturity
E)  either early growth or maturityF) None of the above
G) A) and B)

Question 14

-Consider the T.J. Maxx HomeGoods photo above. This retailer uses a(n)  __________ pricing practice.

Accepted Answer

A)  markdown
B)  maintained markup
C)  gross margin
D)  manufactured suggested retail
E)  off-price retailF) B) and E)
G) B) and C)

Question 15

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) B) and E)
G) None of the above

Question 16

A group of 50 to 150 stores, often containing two or three anchor stores, that typically attracts customers who live or work within a 5- to 10-mile range, is referred to as a(n)  __________.

Accepted Answer

A)  power center
B)  regional shopping center
C)  strip mall
D)  central business district
E)  urban megacenterF) A) and B)
G) A) and C)

Question 17

In the retail life cycle, the battle for market share is usually fought before the __________ stage, and some competitors drop out of the market.

Accepted Answer

A)  decline
B)  growth
C)  maturity
D)  harvest
E)  introduction phaseF) A) and D)
G) B) and C)

Question 18

-Best Buy has approximately what amount of sales per square foot according to the Sales per Square Foot Marketing Dashboard above?

Accepted Answer

A)  $300
B)  $600
C)  $900
D)  $3,500
E)  $5,400F) C) and D)
G) A) and D)

Question 19

-According to Figure 13-5 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 D)
G) B) and C)

Question 20

Nordstrom stores typically have 50 percent more salespeople on the floor than others retailers with stores of similar sizes. Its salespeople are renowned for their professional and personalized attention to customers. Nordstrom would be considered a(n)  __________.

Accepted Answer

A)  exclusive-service retailer
B)  limited-service retailer
C)  full-service retailer
D)  upscale-retailer
E)  limited-domain retailerF) A) and E)
G) B) and C)

Exam 13: Retailing and Wholesaling

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

Correct Answer
verified

Which type of outlet is most likely in its early growth stage of the retail life cycle?

Correct Answer
verified

-According to Figure 13-5 above, market share reaches its highest level during which stage of the retail life cycle?

Correct Answer
verified

Your local Target retailer carries a variety of different items. You can find everything ranging from socks and DVDs to baby items and groceries. This is an example of the __________ carried by Target.

Correct Answer
verified

The four major types of limited-service merchant wholesalers are cash and carry wholesalers, drop shippers, truck jobbers, and __________.

Correct Answer
verified

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

Correct Answer
verified

The three basic types of contractual systems are:

Correct Answer
verified

Correct Answer
verified

Nordstrom stores typically have 50 percent more salespeople on the floor than others retailers with stores of similar sizes. Its salespeople are renowned for their professional and personalized attention to customers. Nordstrom would be considered a(n) __________.

Correct Answer
verified

-Best Buy has approximately what amount of sales per square foot according to the Sales per Square Foot Marketing Dashboard above?

Correct Answer
verified

A group of 50 to 150 stores, often containing two or three anchor stores, that typically attracts customers who live or work within a 5- to 10-mile range, is referred to as a(n) __________.

Correct Answer
verified

Emphasizing consistently low prices and eliminating most markdowns is referred to as __________.

Correct Answer
verified

Usage of specialty catalogs, like those from firms like IKEA, Crate and Barrel, and L.L. Bean have been affected by all of the following factors EXCEPT:

Correct Answer
verified

-Consider the T.J. Maxx HomeGoods photo above. This retailer uses a(n) __________ pricing practice.

Correct Answer
verified

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

Correct Answer
verified

In the retail life cycle, the battle for market share is usually fought before the __________ stage, and some competitors drop out of the market.

Correct Answer
verified

Independently owned firms that take title to the merchandise they handle are referred to as

Correct Answer
verified

Which type of utility is created by online shopping?

Correct Answer
verified

All of the following retailers provide self-service to their customers EXCEPT:

Correct Answer
verified

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

Correct Answer
verified

Exam 13: Retailing and Wholesaling

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

Correct AnswerverifiedShow Answer

Which type of outlet is most likely in its early growth stage of the retail life cycle?

Correct AnswerverifiedShow Answer

-According to Figure 13-5 above, market share reaches its highest level during which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

Your local Target retailer carries a variety of different items. You can find everything ranging from socks and DVDs to baby items and groceries. This is an example of the __________ carried by Target.

Correct AnswerverifiedShow Answer

The four major types of limited-service merchant wholesalers are cash and carry wholesalers, drop shippers, truck jobbers, and __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The three basic types of contractual systems are:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Nordstrom stores typically have 50 percent more salespeople on the floor than others retailers with stores of similar sizes. Its salespeople are renowned for their professional and personalized attention to customers. Nordstrom would be considered a(n) __________.

Correct AnswerverifiedShow Answer

-Best Buy has approximately what amount of sales per square foot according to the Sales per Square Foot Marketing Dashboard above?

Correct AnswerverifiedShow Answer

A group of 50 to 150 stores, often containing two or three anchor stores, that typically attracts customers who live or work within a 5- to 10-mile range, is referred to as a(n) __________.

Correct AnswerverifiedShow Answer

Emphasizing consistently low prices and eliminating most markdowns is referred to as __________.

Correct AnswerverifiedShow Answer

Usage of specialty catalogs, like those from firms like IKEA, Crate and Barrel, and L.L. Bean have been affected by all of the following factors EXCEPT:

Correct AnswerverifiedShow Answer

-Consider the T.J. Maxx HomeGoods photo above. This retailer uses a(n) __________ pricing practice.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In the retail life cycle, the battle for market share is usually fought before the __________ stage, and some competitors drop out of the market.

Correct AnswerverifiedShow Answer

Independently owned firms that take title to the merchandise they handle are referred to as

Correct AnswerverifiedShow Answer

Which type of utility is created by online shopping?

Correct AnswerverifiedShow Answer

All of the following retailers provide self-service to their customers EXCEPT:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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