Question 1

Which of the following is most likely the greatest factor in the increasingly short life cycle of new retail forms?

Accepted Answer

A)  changes in technology 
B)  economic swings 
C)  import and export regulations 
D)  stagnating retail convergence 
E)  global expansion of major retailers 
A)  changes in technology 
B)  economic swings 
C)  import and export regulations 
D)  stagnating retail convergence 
E)  global expansion of major retailers

Question 2

In order to ________,wholesalers can propose automatic reordering systems,set up management-training and advising systems,or even sponsor a voluntary chain.

Accepted Answer

A)  define their target markets 
B)  identify more profitable customers 
C)  determine product and service assortments 
D)  build better relationships with customers 
E)  negotiate pricing 
A)  define their target markets 
B)  identify more profitable customers 
C)  determine product and service assortments 
D)  build better relationships with customers 
E)  negotiate pricing

Question 3

Which of the following types of retailers likely requires their employees to focus most on assisting customers as they shop?

Accepted Answer

A)  self-service retailers 
B)  full-service retailers 
C)  off-price retailers 
D)  limited-service retailers 
E)  megaretailers 
A)  self-service retailers 
B)  full-service retailers 
C)  off-price retailers 
D)  limited-service retailers 
E)  megaretailers

Question 4

Limited-service retailers,such as specialty stores and first-class department stores,employ salespeople who assist customers in every phase of the shopping process.

Accepted Answer

A) True 
 B)False

Question 5

________ are sometimes several stores grouped together.These stores offer prices as low as 50 percent below retail on a wide range of mostly surplus,discounted,or irregular items.

Accepted Answer

A)  Category killers 
B)  Factory outlets 
C)  Specialty stores 
D)  Superstores 
E)  Power centers 
A)  Category killers 
B)  Factory outlets 
C)  Specialty stores 
D)  Superstores 
E)  Power centers

Question 6

Department stores carry narrow product lines with deep assortments within those lines.

Accepted Answer

A) True 
 B)False

Question 7

________ is the basis of all discount operations and is typically used by sellers of convenience goods.Retailers offering this level of service require customers to perform their own "locate-compare-select" process in order to save money.

Accepted Answer

A)  Limited-service 
B)  Self-service 
C)  Full-service 
D)  Specialty-service 
E)  Wholesaling 
A)  Limited-service 
B)  Self-service 
C)  Full-service 
D)  Specialty-service 
E)  Wholesaling

Question 8

Today's large,progressive wholesalers have successfully reacted to rising costs by ________.

Accepted Answer

A)  relocating in low-rent, low-tax areas 
B)  investing in information technology systems 
C)  investing less money in expensive machinery 
D)  increasing their markup 
E)  reducing promotional activities 
A)  relocating in low-rent, low-tax areas 
B)  investing in information technology systems 
C)  investing less money in expensive machinery 
D)  increasing their markup 
E)  reducing promotional activities

Question 9

Retail assortments are looking more and more alike because ________.

Accepted Answer

A)  customers today are more focused on service differentiation 
B)  national-brand manufacturers have placed their products almost everywhere 
C)  market segmentation has proved ineffective 
D)  stores are clustered together to increase their customer pulling power 
E)  more stores are practicing "experiential retailing" 
A)  customers today are more focused on service differentiation 
B)  national-brand manufacturers have placed their products almost everywhere 
C)  market segmentation has proved ineffective 
D)  stores are clustered together to increase their customer pulling power 
E)  more stores are practicing "experiential retailing"

Question 10

Which type of wholesaler sells primarily to manufacturers rather than to retailers?

Accepted Answer

A)  wholesale merchants 
B)  industrial distributors 
C)  cash-and-carry wholesalers 
D)  rack jobbers 
E)  drop shippers 
A)  wholesale merchants 
B)  industrial distributors 
C)  cash-and-carry wholesalers 
D)  rack jobbers 
E)  drop shippers

Which of the following is most likely the greatest factor in the increasingly short life cycle of new retail forms?

In order to ________,wholesalers can propose automatic reordering systems,set up management-training and advising systems,or even sponsor a voluntary chain.

Which of the following types of retailers likely requires their employees to focus most on assisting customers as they shop?

Limited-service retailers,such as specialty stores and first-class department stores,employ salespeople who assist customers in every phase of the shopping process.

________ are sometimes several stores grouped together.These stores offer prices as low as 50 percent below retail on a wide range of mostly surplus,discounted,or irregular items.

Department stores carry narrow product lines with deep assortments within those lines.

________ is the basis of all discount operations and is typically used by sellers of convenience goods.Retailers offering this level of service require customers to perform their own "locate-compare-select" process in order to save money.

Today's large,progressive wholesalers have successfully reacted to rising costs by ________.

Retail assortments are looking more and more alike because ________.

Which type of wholesaler sells primarily to manufacturers rather than to retailers?

Marketing: Managing Profitable Customer Relationships

Company and Marketing Strategy: Partnering to Build

The Marketing Environment

Managing Marketing Information

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products,Services,and Brands: Building Customer Value

New Product Development and Product Life-Cycle Strategies

Pricing Products: Understanding and Capturing Customer Value

Pricing Products: Pricing Strategies

Marketing Channels: Delivering Customer Value

Communicating Customer Value: Integrated Marketing

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

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Exam 13: Retailing and Wholesaling

Which of the following is most likely the greatest factor in the increasingly short life cycle of new retail forms?

In order to ________,wholesalers can propose automatic reordering systems,set up management-training and advising systems,or even sponsor a voluntary chain.

Which of the following types of retailers likely requires their employees to focus most on assisting customers as they shop?

Limited-service retailers,such as specialty stores and first-class department stores,employ salespeople who assist customers in every phase of the shopping process.

________ are sometimes several stores grouped together.These stores offer prices as low as 50 percent below retail on a wide range of mostly surplus,discounted,or irregular items.

Department stores carry narrow product lines with deep assortments within those lines.

________ is the basis of all discount operations and is typically used by sellers of convenience goods.Retailers offering this level of service require customers to perform their own "locate-compare-select" process in order to save money.

Today's large,progressive wholesalers have successfully reacted to rising costs by ________.

Retail assortments are looking more and more alike because ________.

Which type of wholesaler sells primarily to manufacturers rather than to retailers?

Marketing: Managing Profitable Customer Relationships

Company and Marketing Strategy: Partnering to Build

The Marketing Environment

Managing Marketing Information

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products,Services,and Brands: Building Customer Value

New Product Development and Product Life-Cycle Strategies

Pricing Products: Understanding and Capturing Customer Value

Pricing Products: Pricing Strategies

Marketing Channels: Delivering Customer Value

Communicating Customer Value: Integrated Marketing

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters