Question 1

The retailing mix refers to the activities related to the management of and the merchandise in the store,which includes

Accepted Answer

A)  retail pricing,store location,retail communication,and merchandise.
B)  product,price,promotion,and place.
C)  the utilities of time,form,possession,and price.
D)  the colors,sizes,shapes,and point-of-purchase display locations of the store's products.
E)  selection of store location,selection of merchandise,hiring and training of employees,and promotion of both the store and products.F) A) and C)
G) A) and B)

Question 2

Explain the global impact of retailing.

Accepted Answer

Retailing is important to the U.S.and gl...

Question 3

A cluster of neighborhood stores,whose composition is typically unplanned,that serves people within a 5-to 10-mile radius is referred to as a(n)

Accepted Answer

A)  suburban shopping mall.
B)  strip mall.
C)  mini-mart.
D)  hypomarket.
E)  central business district.F) A) and B)
G) B) and C)

Question 4

What is the retailing mix?

Accepted Answer

In developing retailing strategy,manager...

Question 5

Consumers often use the prices of __________ items,such as a can of Coke,to form an overall impression of the store's prices.

Accepted Answer

A)  benchmark
B)  stoplight
C)  point-of-purchase
D)  value-based
E)  loss-leaderF) A) and E)
G) A) and C)

Question 6

As a business format franchisor,McDonald's provides step-by-step procedures for most aspects of the business and

Accepted Answer

A)  provides an accounting system to pay the franchisee bills promptly.
B)  shops for the best food values.
C)  maintains the property.
D)  guidelines for the most likely decisions a franchisee will face.
E)  disciplines dishonest employees.F) C) and D)
G) None of the above

Question 7

The three commonly used terms to describe levels of service are

Accepted Answer

A)  self-service,limited-service,and full-service.
B)  retailer-service,sales-service,and customer-service
C)  self-service,automated-service,and online-service.
D)  limited-service,full-service,and automated-service.
E)  wholesaler-service,retailer-service,and customer-service.F) A) and D)
G) B) and D)

Question 8

There are two general types of franchises: business-format franchises and __________ franchises.

Accepted Answer

A)  product-distribution
B)  general service
C)  manufacturing
D)  distribution
E)  ventureF) A) and E)
G) C) and E)

Question 9

Impressions of the corporation that operates the store,the category or type of store,the product categories in the store,the brands in each category,merchandise and service quality,and the marketing activities of the store all contribute to the store's

Accepted Answer

A)  prices.
B)  image.
C)  emotional feelings.
D)  name.
E)  psychological attributes.F) C) and D)
G) A) and B)

Question 10

General merchandise wholesalers

Accepted Answer

A)  carry a broad assortment of merchandise and perform all channel functions.
B)  own the merchandise they sell but do not physically handle,stock,or deliver it.
C)  have a small warehouse from which they stock their trucks for distribution to retailers.
D)  work for several producers,carry noncompetitive,complementary merchandise in an exclusive territory,and use over-the-road transportation for all product deliveries.
E)  deal exclusively with small low-cost consumer products that are distributed to a select number of large retail chains.F) B) and C)
G) A) and E)

Question 11

Some experts suggest that television shopping programs are becoming a modern version of __________ by combining elements of reality TV programs,talk shows,and infomercials.

Accepted Answer

A)  augmented reality
B)  door-to-door retailing
C)  telemarketing
D)  direct response wholesaling
E)  indirect sellingF) None of the above
G) C) and D)

Question 12

Outside the United States,large retailers include __________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Accepted Answer

A)  Aeon
B)  Toshei
C)  Seebi
D)  Goshen
E)  ToshiF) D) and E)
G) A) and E)

Question 13

A method of classification that describes how many different types of products a store carries and in what assortment is referred to as a __________.

Accepted Answer

A)  product mix
B)  service level
C)  product variety
D)  store composition
E)  merchandise lineF) A) and D)
G) A) and E)

Question 14

Loblaws,a Canadian supermarket,features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix,this tactic is related to __________.

Accepted Answer

A)  pricing
B)  goods and services factor
C)  communication
D)  merchandise
E)  locationF) B) and D)
G) B) and E)

Question 15

A retailer bought a collectible Precious Moments figurine for $26.She sets the initial selling price at $60.The final selling price was $52.What was the maintained markup?

Accepted Answer

A)  $0
B)  $16
C)  $26
D)  $34
E)  $86F) A) and D)
G) A) and E)

Question 16

Cash and carry wholesalers

Accepted Answer

A)  handle bulky items like lumber,bricks,and telephone poles.
B)  handle perishable items like flowers,baked goods,and deli meats.
C)  handle office supplies,electrical supplies,hardware products,and groceries.
D)  are a kind of full-service wholesaler.
E)  lease vending machines to merchants and refill them as needed on a cash only basis.F) None of the above
G) C) and E)

Question 17

All of the following are reasons why direct mail and catalog retailing are attractive EXCEPT:

Accepted Answer

A)  they can create customer value by providing a fast and convenient means of making a purchase.
B)  they can serve as a tool to encourage consumers to visit a website,a social media page,or even a store.
C)  their paper costs and postal rates have declined,making them less expensive to send.
D)  they can eliminate the cost of a store and clerks.
E)  they can improve marketing efficiency through segmentation and targeting.F) B) and E)
G) None of the above

Question 18

Prices in vending machines tend to be higher because

Accepted Answer

A)  machines are placed in low demand/traffic areas.
B)  maintenance,operating,and leasing costs are high.
C)  only small unit volume items are sold.
D)  customary pricing requires certain coin and currency amounts regardless of the normal retailer markup.
E)  few people buy from vending machines.F) A) and D)
G) A) and B)

Question 19

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 D)
G) None of the above

Question 20

Selling on consignment to retailers,which means they retain the title to the products displayed and bill retailers only for the merchandise sold,is characteristic of which limited-service wholesaler?

Accepted Answer

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

Exam 16: Retailing and Wholesaling

Some experts suggest that television shopping programs are becoming a modern version of __________ by combining elements of reality TV programs,talk shows,and infomercials.

Correct AnswerverifiedShow Answer

The three commonly used terms to describe levels of service are

Correct AnswerverifiedShow Answer

All of the following are reasons why direct mail and catalog retailing are attractive EXCEPT:

Correct AnswerverifiedShow Answer

The retailing mix refers to the activities related to the management of and the merchandise in the store,which includes

Correct AnswerverifiedShow Answer

Outside the United States,large retailers include __________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Correct AnswerverifiedShow Answer

There are two general types of franchises: business-format franchises and __________ franchises.

Correct AnswerverifiedShow Answer

A cluster of neighborhood stores,whose composition is typically unplanned,that serves people within a 5-to 10-mile radius is referred to as a(n)

Correct AnswerverifiedShow Answer

Prices in vending machines tend to be higher because

Correct AnswerverifiedShow Answer

A method of classification that describes how many different types of products a store carries and in what assortment is referred to as a __________.

Correct AnswerverifiedShow Answer

Cash and carry wholesalers

Correct AnswerverifiedShow Answer

A retailer bought a collectible Precious Moments figurine for $26.She sets the initial selling price at $60.The final selling price was $52.What was the maintained markup?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What is the retailing mix?

Correct AnswerverifiedIn developing retailing strategy,manager...View AnswerShow Answer

Impressions of the corporation that operates the store,the category or type of store,the product categories in the store,the brands in each category,merchandise and service quality,and the marketing activities of the store all contribute to the store's

Correct AnswerverifiedShow Answer

Consumers often use the prices of __________ items,such as a can of Coke,to form an overall impression of the store's prices.

Correct AnswerverifiedShow Answer

Explain the global impact of retailing.

Correct AnswerverifiedRetailing is important to the U.S.and gl...View AnswerShow Answer

Selling on consignment to retailers,which means they retain the title to the products displayed and bill retailers only for the merchandise sold,is characteristic of which limited-service wholesaler?

Correct AnswerverifiedShow Answer

As a business format franchisor,McDonald's provides step-by-step procedures for most aspects of the business and

Correct AnswerverifiedShow Answer

General merchandise wholesalers

Correct AnswerverifiedShow Answer

Loblaws,a Canadian supermarket,features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix,this tactic is related to __________.

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
In developing retailing strategy,manager...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Retailing is important to the U.S.and gl...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified