Question 1

Discount stores that try to keep prices as low as possible are more likely to function using ________ operations.

Accepted Answer

A)  limited service 
B)  self-selection 
C)  full-service 
D)  self-service 
E)  limited-selection 
A)  limited service 
B)  self-selection 
C)  full-service 
D)  self-service 
E)  limited-selection

Question 2

E&OE produces and markets its own brand of skincare products using herbal remedies and natural ingredients through standalone stores as well as an online portal. E&OE is a(n)________ retailer.

Accepted Answer

A)  off-price 
B)  specialty 
C)  discount 
D)  department 
E)  extreme value 
A)  off-price 
B)  specialty 
C)  discount 
D)  department 
E)  extreme value

Question 3

Which of the following is true for the retail industry?

Accepted Answer

A)  Discount stores and catalog showrooms are competing for the same customers. 
B)  Upscale retailers see a decline in sales as middle-market retailers thrive. 
C)  Small, specialized retailers are crowding out larger, more diverse retailers. 
D)  Store retailing sees no competition from non-store retailing. 
E)  Discount stores are not doing as well as middle-market retailers. 
A)  Discount stores and catalog showrooms are competing for the same customers. 
B)  Upscale retailers see a decline in sales as middle-market retailers thrive. 
C)  Small, specialized retailers are crowding out larger, more diverse retailers. 
D)  Store retailing sees no competition from non-store retailing. 
E)  Discount stores are not doing as well as middle-market retailers.

Question 4

Why do retailers prefer to deal with wholesalers rather than directly with manufacturers?

Accepted Answer

In general, retailers prefer to deal wit

Question 5

Though it is sold only in Wal-Mart stores, Wal-Mart's Ol'Roy dog food has surpassed Nestlé's Purina brand as the top-selling dog food. Ol'Roy is an example of a ________.

Accepted Answer

A)  generic product 
B)  national brand 
C)  franchise 
D)  copy-cat brand 
E)  private label 
A)  generic product 
B)  national brand 
C)  franchise 
D)  copy-cat brand 
E)  private label

Question 6

The owner of supermarket chain Reynold's has realized that customers want a wider variety of goods than is currently available. However, Reynold's cannot afford the costs of storing excess inventory. Additionally, the owner is not willing to take the risk that the new products will remain unsold. Which of the following types of wholesalers can help Reynold's meet customer demand while minimizing costs?

Accepted Answer

A)  Producers' cooperatives 
B)  Cash and carry wholesalers 
C)  Truck wholesalers 
D)  Drop shippers 
E)  Rack jobbers 
A)  Producers' cooperatives 
B)  Cash and carry wholesalers 
C)  Truck wholesalers 
D)  Drop shippers 
E)  Rack jobbers

Question 7

In addition to its store brands and nationally well-known brands of detergents, Reynold's also carries much cheaper varieties of detergents that are not advertised and have little-known names. They are often manufactured from lower-quality ingredients and save on packaging and advertising costs. These are known as ________.

Accepted Answer

A)  common carriers 
B)  shills 
C)  generics 
D)  private labels 
E)  marques 
A)  common carriers 
B)  shills 
C)  generics 
D)  private labels 
E)  marques

Question 8

Which of the following is true for self-service retailing?

Accepted Answer

A)  These retailers carry more shopping goods and services such as credit and merchandise-return privileges. 
B)  This service model is favored by discount stores and customers who want to save money. 
C)  It results in high staffing costs compared to other forms of retailing. 
D)  Salespeople are ready to assist in every phase of the "locate-compare-select" process. 
E)  Customers need more information and assistance than in other forms of retailing. 
A)  These retailers carry more shopping goods and services such as credit and merchandise-return privileges. 
B)  This service model is favored by discount stores and customers who want to save money. 
C)  It results in high staffing costs compared to other forms of retailing. 
D)  Salespeople are ready to assist in every phase of the "locate-compare-select" process. 
E)  Customers need more information and assistance than in other forms of retailing.

Question 9

Most companies today are trying to increase the order-to-payment cycle.

Accepted Answer

A) True 
 B)False

Question 10

Merchant wholesalers are independently owned businesses that take title to the merchandise they handle.

Accepted Answer

A) True 
 B)False

Question 11

Most retailers will put low prices on some items in order to increase traffic to the store. These low-priced products are known as ________.

Accepted Answer

A)  loss leaders 
B)  price ceilings 
C)  price skimmers 
D)  price floors 
E)  cold calls 
A)  loss leaders 
B)  price ceilings 
C)  price skimmers 
D)  price floors 
E)  cold calls

Question 12

More stocking locations mean goods can be delivered to customers more quickly, and warehousing and inventory costs are lower.

Accepted Answer

A) True 
 B)False

Question 13

________ are unbranded, plainly packaged, less expensive versions of common products such as spaghetti, paper towels, and canned peaches.

Accepted Answer

A)  Common carriers 
B)  Shills 
C)  Generics 
D)  Private labels 
E)  Marques 
A)  Common carriers 
B)  Shills 
C)  Generics 
D)  Private labels 
E)  Marques

Question 14

Sandy's Stores is a small chain of grocery stores located in a few neighboring towns. The stores have always been largely self-service, but the company is considering making a switch to full-service stores. Offer one possible reason why this move is justified.

Accepted Answer

Student answers may vary.
Full-service r

Question 15

An independent retailer using a central buying organization and joint promotion efforts with other retailers is part of a ________.

Accepted Answer

A)  corporate chain store 
B)  voluntary chain 
C)  retailer cooperative 
D)  merchandising conglomerate 
E)  franchise organization 
A)  corporate chain store 
B)  voluntary chain 
C)  retailer cooperative 
D)  merchandising conglomerate 
E)  franchise organization

Question 16

As inventory draws down, management must know at what stock level to request additional stock. This stock level is called the ________.

Accepted Answer

A)  reorder point 
B)  least fixed point 
C)  point of divergence 
D)  inflection point 
E)  critical point 
A)  reorder point 
B)  least fixed point 
C)  point of divergence 
D)  inflection point 
E)  critical point

Question 17

Reynold's is a grocery chain that has always catered to mid-market customers. However, the owner, Mal, has noticed that an influx of new residents are buying mostly the lower-cost products and products on discount. To attract customers, Mal decides to make a gradual switch to the discount store format, but to do this, he will have to cut costs wherever possible. Which of the following types of service should Mal avoid in order to lower costs?

Accepted Answer

A)  limited service 
B)  self-selection 
C)  full-service 
D)  self-service 
E)  limited-selection 
A)  limited service 
B)  self-selection 
C)  full-service 
D)  self-service 
E)  limited-selection

Question 18

Featuring exclusive national brands that are not available at competing retailers is a way of generating consumer interest in a retailer.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is an example of direct selling?

Accepted Answer

A)  E&OE sells its herbal skincare products exclusively through its stand-alone stores. 
B)  TCJ is a telemarketing firm that sells products from a number of different suppliers. 
C)  Jayne's sells most of its products to customers through home sales parties. 
D)  J3 is an online shopping portal where customers can buy directly from manufacturers. 
E)  Reynold's tries to minimize its staff costs by installing vending machines in its stores. 
A)  E&OE sells its herbal skincare products exclusively through its stand-alone stores. 
B)  TCJ is a telemarketing firm that sells products from a number of different suppliers. 
C)  Jayne's sells most of its products to customers through home sales parties. 
D)  J3 is an online shopping portal where customers can buy directly from manufacturers. 
E)  Reynold's tries to minimize its staff costs by installing vending machines in its stores.

Question 20

________ costs for a manufacturer consist of setup costs and running costs.

Accepted Answer

A)  Inventory-carrying 
B)  Containerization 
C)  Wholesaling 
D)  Order-processing 
E)  Transportation 
A)  Inventory-carrying 
B)  Containerization 
C)  Wholesaling 
D)  Order-processing 
E)  Transportation

Discount stores that try to keep prices as low as possible are more likely to function using ________ operations.

E&OE produces and markets its own brand of skincare products using herbal remedies and natural ingredients through standalone stores as well as an online portal. E&OE is a(n)________ retailer.

Which of the following is true for the retail industry?

Why do retailers prefer to deal with wholesalers rather than directly with manufacturers?

Though it is sold only in Wal-Mart stores, Wal-Mart's Ol'Roy dog food has surpassed Nestlé's Purina brand as the top-selling dog food. Ol'Roy is an example of a ________.

Which of the following is true for self-service retailing?

Most companies today are trying to increase the order-to-payment cycle.

Merchant wholesalers are independently owned businesses that take title to the merchandise they handle.

Most retailers will put low prices on some items in order to increase traffic to the store. These low-priced products are known as ________.

More stocking locations mean goods can be delivered to customers more quickly, and warehousing and inventory costs are lower.

________ are unbranded, plainly packaged, less expensive versions of common products such as spaghetti, paper towels, and canned peaches.

Sandy's Stores is a small chain of grocery stores located in a few neighboring towns. The stores have always been largely self-service, but the company is considering making a switch to full-service stores. Offer one possible reason why this move is justified.

An independent retailer using a central buying organization and joint promotion efforts with other retailers is part of a ________.

As inventory draws down, management must know at what stock level to request additional stock. This stock level is called the ________.

Featuring exclusive national brands that are not available at competing retailers is a way of generating consumer interest in a retailer.

Which of the following is an example of direct selling?

________ costs for a manufacturer consist of setup costs and running costs.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Market Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization for the Long Run

Filters

Exam 16: Managing Retailing, Wholesaling, and Logistics

Discount stores that try to keep prices as low as possible are more likely to function using ________ operations.

E&OE produces and markets its own brand of skincare products using herbal remedies and natural ingredients through standalone stores as well as an online portal. E&OE is a(n)________ retailer.

Which of the following is true for the retail industry?

Why do retailers prefer to deal with wholesalers rather than directly with manufacturers?

Though it is sold only in Wal-Mart stores, Wal-Mart's Ol'Roy dog food has surpassed Nestlé's Purina brand as the top-selling dog food. Ol'Roy is an example of a ________.

Which of the following is true for self-service retailing?

Most companies today are trying to increase the order-to-payment cycle.

Merchant wholesalers are independently owned businesses that take title to the merchandise they handle.

Most retailers will put low prices on some items in order to increase traffic to the store. These low-priced products are known as ________.

More stocking locations mean goods can be delivered to customers more quickly, and warehousing and inventory costs are lower.

________ are unbranded, plainly packaged, less expensive versions of common products such as spaghetti, paper towels, and canned peaches.

Sandy's Stores is a small chain of grocery stores located in a few neighboring towns. The stores have always been largely self-service, but the company is considering making a switch to full-service stores. Offer one possible reason why this move is justified.

An independent retailer using a central buying organization and joint promotion efforts with other retailers is part of a ________.

As inventory draws down, management must know at what stock level to request additional stock. This stock level is called the ________.

Featuring exclusive national brands that are not available at competing retailers is a way of generating consumer interest in a retailer.

Which of the following is an example of direct selling?

________ costs for a manufacturer consist of setup costs and running costs.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Market Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization for the Long Run

Filters