Question 1

Bloomingdale's stores are part of the Macy's __________.

Accepted Answer

A)  corporate chain
B)  consumer cooperative
C)  contractual system
D)  retail conglomerate
E)  administered system

Question 2

th photo above. This retailer is an example of a(n)  __________. A) hypermarket B) markdown store C) outlet store D) category killer E) warehouse club" class="answers-bank-image d-inline" rel="preload" >

-Consider the Saks Fifth Avenue Off 5th photo above. This retailer is an example of a(n)  __________.

Accepted Answer

A)  hypermarket
B)  markdown store
C)  outlet store
D)  category killer
E)  warehouse club

Question 3

A variation of off-price retailing is __________.

Accepted Answer

A)  discount wholesalers
B)  outlet stores
C)  discount retailers
D)  supercenters
E)  hypermarkets

Question 4

The sales of products and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as __________.

Accepted Answer

A)  direct selling
B)  person-to-person sales
C)  face-to-face selling
D)  direct response selling
E)  customized selling

Question 5

There are three key methods of classifying retail operations. These include:

Accepted Answer

A)  method of operation, revenues generated, and merchandise line.
B)  form of ownership, method of operation, and merchandise line.
C)  form of ownership, level of service, and merchandise line.
D)  level of service, merchandise line, and revenues generated.
E)  merchandise line, form of ownership, and revenues generated.

Question 6

Briefly describe the two general types of franchises. Give an example of each.

Accepted Answer

Franchises can be classified in two gene...

Question 7

Consumers benefit in dealing with retail corporate chains because

Accepted Answer

A)  corporate chains have more experience than other forms of retailers.
B)  they can own stock in the same company where they shop since corporate chain stock must be publicly-traded.
C)  they can establish a credit history more easily than with other forms of retailers.
D)  there are multiple outlets with similar merchandise and consistent management policies.
E)  they have less stress in making decisions since merchandise is arranged and displayed by professional designers.

Question 8

Wholesalers that carry a broad assortment of merchandise and perform all channel functions are referred to as a __________.

Accepted Answer

A)  limited-line wholesaler
B)  drop shipper
C)  rack jobber
D)  specialty merchandise wholesaler
E)  general merchandise wholesaler

Question 9

Which of the following statements regarding retail pricing is most accurate?

Accepted Answer

A)  Consumers rarely base their perceptions of a store's prices on a price of a benchmark item in the store.
B)  Consumers are influenced more by a store's ambiance than its prices.
C)  Stores that offer rebates and take an excessive amount of time to process them may create negative consumer perceptions.
D)  New technology has nearly made markdowns unnecessary.
E)  The only difference between everyday low pricing and everyday fair pricing is whether the store uses markups.

Question 10

Higher paper costs, increased postage rates, the growing interest in do-not-mail legislation, and concern for "green" mailings have resulted in

Accepted Answer

A)  a switch to online catalogs and direct-to-customer e-mail advertisements.
B)  a focus on proven rather than prospective customers.
C)  the use of thinner, lightweight paper products.
D)  the banning of "junk" mail by a growing number of environmentally-concerned communities.
E)  a resurgence in non-automated telemarketing.

Question 11

Combining the convenient location of a strip mall with the influential draw of national stores results in shopping areas known as

Accepted Answer

A)  suburban malls.
B)  warehouse malls.
C)  power centers.
D)  retail malls.
E)  cluster malls.

Question 12

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)  reduced-service
C)  minimal-service
D)  self-service
E)  full-service

Question 13

Direct-mail and catalog retailing are examples of __________.

Accepted Answer

A)  nonstore retailing
B)  intertype retailing
C)  online retailing
D)  print-media retailing
E)  dual retailing

Question 14

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 selling

Question 15

The largest percentage of products sold from vending machines are __________.

Accepted Answer

A)  candy and snacks
B)  personal items
C)  movies and videos
D)  cold beverages
E)  food

Question 16

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 17

Wholly-owned extensions of the producer that perform wholesaling activities are referred to as

Accepted Answer

A)  general merchandise wholesalers.
B)  cash and carry wholesalers.
C)  agents and brokers.
D)  manufacturer's branch or sales offices.
E)  merchant wholesalers.

Question 18

Intermediaries that work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory are referred to as __________.

Accepted Answer

A)  selling agents
B)  line brokers
C)  distribution brokers
D)  manufacturer's agents
E)  brokers

Question 19

Limited- and single-line stores are often referred to as __________.

Accepted Answer

A)  specialty outlets
B)  general merchandise stores
C)  scrambled merchandise stores
D)  intertype outlets
E)  hypermarkets

Question 20

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

Accepted Answer

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

Exam 13: Retailing and Wholesaling

Intermediaries that work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory are referred to as __________.

Correct AnswerverifiedShow Answer

The sales of products and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as __________.

Correct AnswerverifiedShow Answer

A variation of off-price retailing is __________.

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

-Consider the Saks Fifth Avenue Off 5th photo above. This retailer is an example of a(n) __________.

Correct AnswerverifiedShow Answer

Combining the convenient location of a strip mall with the influential draw of national stores results in shopping areas known as

Correct AnswerverifiedShow Answer

Direct-mail and catalog retailing are examples of __________.

Correct AnswerverifiedShow Answer

Wholesalers that carry a broad assortment of merchandise and perform all channel functions are referred to as a __________.

Correct AnswerverifiedShow Answer

Consumers benefit in dealing with retail corporate chains because

Correct AnswerverifiedShow Answer

The largest percentage of products sold from vending machines are __________.

Correct AnswerverifiedShow Answer

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

Higher paper costs, increased postage rates, the growing interest in do-not-mail legislation, and concern for "green" mailings have resulted in

Correct AnswerverifiedShow Answer

Wholly-owned extensions of the producer that perform wholesaling activities are referred to as

Correct AnswerverifiedShow Answer

Briefly describe the two general types of franchises. Give an example of each.

Correct AnswerverifiedFranchises can be classified in two gene...View AnswerShow 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

There are three key methods of classifying retail operations. These include:

Correct AnswerverifiedShow Answer

Bloomingdale's stores are part of the Macy's __________.

Correct AnswerverifiedShow Answer

Limited- and single-line stores are often referred to as __________.

Correct AnswerverifiedShow Answer

Which of the following statements regarding retail pricing is most accurate?

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

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-Consider the Saks Fifth Avenue Off 5^th photo above. This retailer is an example of a(n) __________.

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Franchises can be classified in two gene...
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