Question 1

Neighborhood grocers that work together with several other independent grocers that all agree to buy their goods directly from food manufacturers is a(n)

Accepted Answer

A)   retailer-sponsored cooperative.
B)   consortium system.
C)   administrative system.
D)   conglomerate system.
E)   contractual horizontal marketing system.

Question 2

The four major types of limited-service merchant wholesalers are drop shippers,rack jobbers,truck jobbers,and

Accepted Answer

A)  machine vendors.
B)  credit line wholesalers.
C)  transport vendors.
D)  cash and carry wholesalers.
E)  container transport vendors.

Question 3

The wholesalers most prevalent in the hardware,drug,and clothing industries are

Accepted Answer

A)  specialty wholesalers.
B)  full-line wholesalers.
C)  cash and carry wholesalers.
D)  limited-line wholesalers.
E)  universal wholesalers.

Question 4

Identify and describe the functions of agents and brokers.

Accepted Answer

Agents and brokers do not take title to ...

Question 5

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores.These are referred to as

Accepted Answer

A)  extreme value retailers.
B)  warehouse clubs.
C)  discount houses.
D)  outlet stores.
E)  community shopping centers.

Question 6

Retail outlets,like products,experience the process of growth and decline,which is referred to as the

Accepted Answer

A)  retail life cycle.
B)  wheel of retailing.
C)  product life cycle.
D)  retail continuum.
E)  retail life matrix.

Question 7

Depth of product line refers to

Accepted Answer

A)  the percentage of goods stored as inventory.
B)  the variety of different product items a store carries.
C)  variations in price and color on specific items in a store.
D)  the assortment of each item carried by a store.
E)  the number of different product classes owned by a corporate chain.

Question 8

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 growth

Question 9

The difference between the final selling price and the retailer's cost is referred to as the

Accepted Answer

A)  original markup.
B)  maintained markup.
C)  markdown.
D)  differential markup.
E)  discounted price.

Question 10

Retailers such as Williams-Sonoma that sell products through retail stores,catalogs,and online are examples of

Accepted Answer

A)  intertype competitors.
B)  multichannel retailers.
C)  vertically integrated retailers.
D)  scrambled merchandisers.
E)  dual distributors.

Question 11

Direct selling is likely to continue to have strong growth in markets

Accepted Answer

A)  in which people prefer not to have a social shopping experience.
B)  where convenience is not especially important.
C)  in which consumers are knowledgeable shoppers.
D)  where there is a lack of effective distribution channels.
E)  that have an excellent infrastructure.

Question 12

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 13

What future changes may be expected in retailing?

Accepted Answer

Retailers in the future are likely to co...

Question 14

The use of displays,coupons,product samples,and other brand communications to influence shopping behavior in a store is referred to as

Accepted Answer

A)  functional qualities.
B)  level of service.
C)  shopper marketing.
D)  lifestyle attributes.
E)  psychographic elements.

Question 15

The retail positioning matrix is an analytical tool that

Accepted Answer

A)  positions retail outlets in terms of the breadth of product line and value added.
B)  identifies the best location for building or leasing a retail store.
C)  identifies the specific customer base served by all stores within a given radius.
D)  identifies the most likely target market for a retail outlet based upon its size.
E)  identifies the elements of the retailing mix.

Question 16

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 mix

Question 17

Figure 16-10
 
-According to Figure 16-10 above,C represents which stage of the retail life cycle?

Accepted Answer

A)  decline
B)  stabilization
C)  expansion
D)  maturity
E)  accelerated development

Question 18

The oldest retail setting,located in the community's downtown area,is referred to as

Accepted Answer

A)  the central business district.
B)  main street.
C)  the community square.
D)  the economic center.
E)  the historic commerce district.

Question 19

A(n) ________ carries 3,700 to 8,000 items and usually stocks just one brand of appliance or food product.

Accepted Answer

A)  warehouse club
B)  single-price retailer
C)  extreme value retailer
D)  hypermarket
E)  supercenter

Question 20

Briefly describe the three levels of service offered by retail outlets.

Accepted Answer

Retail outlets generally offer three lev...

Exam 16: Retailing and Wholesaling

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 drop shippers,rack jobbers,truck jobbers,and

Correct AnswerverifiedShow Answer

Depth of product line refers to

Correct AnswerverifiedShow Answer

The difference between the final selling price and the retailer's cost is referred to as the

Correct AnswerverifiedShow Answer

Briefly describe the three levels of service offered by retail outlets.

Correct AnswerverifiedRetail outlets generally offer three lev...View AnswerShow Answer

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores.These are referred to as

Correct AnswerverifiedShow Answer

What future changes may be expected in retailing?

Correct AnswerverifiedRetailers in the future are likely to co...View AnswerShow Answer

A(n) ________ carries 3,700 to 8,000 items and usually stocks just one brand of appliance or food product.

Correct AnswerverifiedShow Answer

The oldest retail setting,located in the community's downtown area,is referred to as

Correct AnswerverifiedShow Answer

The wholesalers most prevalent in the hardware,drug,and clothing industries are

Correct AnswerverifiedShow Answer

Retailers such as Williams-Sonoma that sell products through retail stores,catalogs,and online are examples of

Correct AnswerverifiedShow Answer

Identify and describe the functions of agents and brokers.

Correct AnswerverifiedAgents and brokers do not take title to ...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

The use of displays,coupons,product samples,and other brand communications to influence shopping behavior in a store is referred to as

Correct AnswerverifiedShow Answer

Neighborhood grocers that work together with several other independent grocers that all agree to buy their goods directly from food manufacturers is a(n)

Correct AnswerverifiedShow Answer

Direct selling is likely to continue to have strong growth in markets

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

Figure 16-10 -According to Figure 16-10 above,C represents which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

The retail positioning matrix is an analytical tool that

Correct AnswerverifiedShow Answer

Retail outlets,like products,experience the process of growth and decline,which is referred to as the

Correct AnswerverifiedShow Answer

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Retail outlets generally offer three lev...
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Retailers in the future are likely to co...
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Agents and brokers do not take title to ...
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