Question 1

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 value

Question 2

Retailing that occurs outside a retail outlet, such as through direct marketing, direct selling, and automatic vending, is referred to as

Accepted Answer

A)   limited-line retailing.
B)   nonstore retailing.
C)   scrambled merchandising.
D)   a hypermarket.
E)   intertype competition.

Question 3

Level of service is used to describe the degree of service provided to the customer. Three levels of service are provided by self-, ________, and full-service retailers.

Accepted Answer

A)   limited-
B)   total-
C)   involvement-
D)   obligation-
E)   fixed-

Question 4

A large assortment of each item within a product line in a store is referred to as

Accepted Answer

A)   product span.
B)   breadth of product line.
C)   length of product line.
D)   width of product line.
E)   depth of product line.

Question 5

What is category management and when is it used?

Accepted Answer

Category management is used to manage th...

Question 6

Another name for a drop shipper is a

Accepted Answer

A)   drop runner.
B)   desk jobber.
C)   transport vendor.
D)   container transport vendor.
E)   stock jobber.

Question 7

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 that call on them, pay cash for merchandise, and furnish their own transportation for the merchandise.
E)   brings buyers and sellers together to make sales.

Question 8

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.

Question 9

Figure 13-5
-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 maturity

Question 10

Recent research indicates that the timing of ________ might affect future sales because frequent promotions increase consumers' ability to remember regular prices.

Accepted Answer

A)   seasonal markdowns
B)   original markups
C)   future markups
D)   maintained markups
E)   markdowns

Question 11

The selling of brand name merchandise at lower than regular prices is referred to as

Accepted Answer

A)   discount pricing.
B)   everyday low price.
C)   markdown pricing.
D)   off-price retailing.
E)   loss-price leader.

Question 12

The West Edmonton Mall in Alberta, Canada, is a conglomerate of more than 800 stores, the world's largest indoor amusement park, more than 100 restaurants, a movie complex, and two hotels. This retail complex is the largest example of

Accepted Answer

A)   a regional shopping center.
B)   an urban microcenter.
C)   a megaplex.
D)   a hypermarket.
E)   a supercenter.

Question 13

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 elements

Question 14

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 incorporation

Question 15

In the past, television home shopping programs have attracted mostly

Accepted Answer

A)   18- to 34-year-old men.
B)   25- to 34-year-old women.
C)   35- to 50-year-old men.
D)   35- to 64-year-old women.
E)   12- to 17-year-old boys.

Question 16

Saks Fifth Avenue is an upscale retailer that offers designer brand women's apparel, fragrances, jewelry, and leather accessories. The retailer relies on superior service to sell its products and to retain its customers. Saks Fifth Avenue would be classified as

Accepted Answer

A)   an exclusive-service retailer.
B)   a limited-service retailer.
C)   a full-service retailer.
D)   a premium-service retailer.
E)   a semi-service retailer.

Question 17

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

Accepted Answer

A)   intrusive
B)   intertype
C)   scrambled
D)   nonstore
E)   hypermarket

Question 18

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.

Question 19

The four utilities offered to consumers through retailing are

Accepted Answer

A)   convenience, performance, possession, and form.
B)   time, place, possession, and form.
C)   product, price, place, and promotion.
D)   people, productivity, process, and physical environment.
E)   convenience, consistency, competition, and choice.

Question 20

All of the following are forms of nonstore retailing except which?

Accepted Answer

A)   direct selling
B)   television home shopping
C)   factory outlets
D)   online retailing
E)   telemarketing

Exam 13: Retailing and Wholesaling

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

The selling of brand name merchandise at lower than regular prices is 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

Recent research indicates that the timing of ________ might affect future sales because frequent promotions increase consumers' ability to remember regular prices.

Correct AnswerverifiedShow Answer

Level of service is used to describe the degree of service provided to the customer. Three levels of service are provided by self-, ________, and full-service retailers.

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

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

Correct AnswerverifiedShow Answer

All of the following are forms of nonstore retailing except which?

Correct AnswerverifiedShow Answer

The West Edmonton Mall in Alberta, Canada, is a conglomerate of more than 800 stores, the world's largest indoor amusement park, more than 100 restaurants, a movie complex, and two hotels. This retail complex is the largest example of

Correct AnswerverifiedShow Answer

A large assortment of each item within a product line in a store is referred to as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A manufacturer's branch office

Correct AnswerverifiedShow Answer

What is category management and when is it used?

Correct AnswerverifiedCategory management is used to manage th...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Retailing that occurs outside a retail outlet, such as through direct marketing, direct selling, and automatic vending, is referred to as

Correct AnswerverifiedShow Answer

Saks Fifth Avenue is an upscale retailer that offers designer brand women's apparel, fragrances, jewelry, and leather accessories. The retailer relies on superior service to sell its products and to retain its customers. Saks Fifth Avenue would be classified as

Correct AnswerverifiedShow 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

The four utilities offered to consumers through retailing are

Correct AnswerverifiedShow Answer

Another name for a drop shipper is a

Correct AnswerverifiedShow Answer

In the past, television home shopping programs have attracted mostly

Correct AnswerverifiedShow Answer

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Category management is used to manage th...
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