Question 1

How do wholesalers' marketing decisions differ from a retailer's?

Accepted Answer

A)  Wholesalers do not have to make decisions dealing with time and place utility. 
B)  Wholesalers do not have to make target market decisions. 
C)  Wholesalers do not have to make store atmosphere decisions. 
D)  Wholesalers do not have to make assortment and procurement decisions. 
E)  Wholesalers do not have to make promotion decisions. 
A)  Wholesalers do not have to make decisions dealing with time and place utility. 
B)  Wholesalers do not have to make target market decisions. 
C)  Wholesalers do not have to make store atmosphere decisions. 
D)  Wholesalers do not have to make assortment and procurement decisions. 
E)  Wholesalers do not have to make promotion decisions.

Question 2

Retailers can be classified in a variety of ways. Which of the following is NOT one of the standard ways to classify retail operations?

Accepted Answer

A)  geographic location 
B)  relative prices 
C)  product line sold 
D)  service type 
E)  all of the above 
A)  geographic location 
B)  relative prices 
C)  product line sold 
D)  service type 
E)  all of the above

Question 3

Franchising is one of the fastest growing forms of retail.

Accepted Answer

A) True 
 B)False

Question 4

The wholesaler who brings buyers and sellers together and assists in negotiation is called a:

Accepted Answer

A)  selling agent. 
B)  broker. 
C)  rack jobber. 
D)  middleman. 
E)  drop shipper. 
A)  selling agent. 
B)  broker. 
C)  rack jobber. 
D)  middleman. 
E)  drop shipper.

Question 5

The relationship between broker and customer is more permanent than the relationship between agent and customer.

Accepted Answer

A) True 
 B)False

Question 6

Brokers are essentially specialists who locate buyers or sellers, bring the two parties together, and assist in negotiation.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following product differentiation strategies would NOT allow retailers to significantly distinguish themselves from others?

Accepted Answer

A)  offer merchandise customising services 
B)  feature mostly private branded merchandise 
C)  offer a broad merchandise assortment 
D)  feature the latest or newest merchandise before any other retailer can 
E)  feature exclusive national brands not carried by competitors 
A)  offer merchandise customising services 
B)  feature mostly private branded merchandise 
C)  offer a broad merchandise assortment 
D)  feature the latest or newest merchandise before any other retailer can 
E)  feature exclusive national brands not carried by competitors

Question 8

A _________consists of a wholesaler- sponsored group of independent retailers engaged in bulk buying and common warehousing.

Accepted Answer

A)  consumer cooperative 
B)  merchandising conglomerate 
C)  retailer cooperative 
D)  retailing franchise 
E)  voluntary chain 
A)  consumer cooperative 
B)  merchandising conglomerate 
C)  retailer cooperative 
D)  retailing franchise 
E)  voluntary chain

Question 9

A store that consistently offers merchandise at lower prices, offering national brands rather than inferior goods or seconds is referred to as a(n):

Accepted Answer

A)  speciality store. 
B)  supermarket. 
C)  off- price store. 
D)  surplus store. 
E)  discount store. 
A)  speciality store. 
B)  supermarket. 
C)  off- price store. 
D)  surplus store. 
E)  discount store.

Question 10

Tom loves to go to the Nike Store where he finds athletic shoes and clothing at lower prices than at department stores. The Nike Store carries leftover merchandise, overruns and irregulars. This retail store is an example of a:

Accepted Answer

A)  factory outlet. 
B)  superstore. 
C)  combination store. 
D)  warehouse club. 
E)  discount store. 
A)  factory outlet. 
B)  superstore. 
C)  combination store. 
D)  warehouse club. 
E)  discount store.

Question 11

Both wholesale merchants and industrial distributors are a type of full- service wholesaler.

Accepted Answer

A) True 
 B)False

Question 12

While online retailing has taken market share from store retailers, a large percentage of online retail sales are conducted by store retailers themselves.

Accepted Answer

A) True 
 B)False

Question 13

Retailers who typically offer some sales assistance and information as well as credit and merchandise return services to support the sale of the shopping goods they carry are known as:

Accepted Answer

A)  low- service. 
B)  limited- service. 
C)  self- service. 
D)  no service. 
E)  full- service. 
A)  low- service. 
B)  limited- service. 
C)  self- service. 
D)  no service. 
E)  full- service.

Question 14

speciality stores and department stores are limited service retailers.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following statements about off- price retailers is TRUE?

Accepted Answer

A)  They seldom stock brand- name merchandise. 
B)  They offer very deep assortments. 
C)  They buy at less than regular wholesale prices and charge consumers less than retail prices. 
D)  They are are owned by the manufacturer of the products they sell. 
E)  They typically offer a consistent assortment of merchandise. 
A)  They seldom stock brand- name merchandise. 
B)  They offer very deep assortments. 
C)  They buy at less than regular wholesale prices and charge consumers less than retail prices. 
D)  They are are owned by the manufacturer of the products they sell. 
E)  They typically offer a consistent assortment of merchandise.

Question 16

Swedish retailer, IKEA, understands that prospective customers will spend more time in store, browsing and comparing prices if they are not encumbered with children. Accordingly, all IKEA stores offer a children's play area that is fully supervised by qualified attendants at no charge to IKEA patrons. The children's play area is an example of:

Accepted Answer

A)  experiential service. 
B)  supplementary service. 
C)  core service. 
D)  in- store merchandising. 
E)  primary service. 
A)  experiential service. 
B)  supplementary service. 
C)  core service. 
D)  in- store merchandising. 
E)  primary service.

Question 17

Corporations that combine several different retailing forms under central ownership and that share some distribution and management functions are called:

Accepted Answer

A)  merchandising conglomerates. 
B)  voluntary chains. 
C)  franchisers. 
D)  retail cooperatives. 
E)  retail conglomerates. 
A)  merchandising conglomerates. 
B)  voluntary chains. 
C)  franchisers. 
D)  retail cooperatives. 
E)  retail conglomerates.

Question 18

A store that sells at less than standard retail prices, but tends to offer an unstable and changing collection of higher quality merchandise, including leftover goods, production overruns and irregular items obtained at reduced prices from independent manufacturers is known as a(n):

Accepted Answer

A)  factory outlet. 
B)  hypermarket. 
C)  discount store. 
D)  off- price store. 
E)  speciality store. 
A)  factory outlet. 
B)  hypermarket. 
C)  discount store. 
D)  off- price store. 
E)  speciality store.

Question 19

Manufacturers' agents, also called manufacturers' representatives, are owned by the manufacturer.

Accepted Answer

A) True 
 B)False

Question 20

A role similar to that of brokers or agents, but which is part of the buyer's organisation is performed by a:

Accepted Answer

A)  purchasing office. 
B)  branch office. 
C)  sales office. 
D)  sales branch. 
E)  manufacturer's office. 
A)  purchasing office. 
B)  branch office. 
C)  sales office. 
D)  sales branch. 
E)  manufacturer's office.

How do wholesalers' marketing decisions differ from a retailer's?

Retailers can be classified in a variety of ways. Which of the following is NOT one of the standard ways to classify retail operations?

Franchising is one of the fastest growing forms of retail.

The wholesaler who brings buyers and sellers together and assists in negotiation is called a:

The relationship between broker and customer is more permanent than the relationship between agent and customer.

Brokers are essentially specialists who locate buyers or sellers, bring the two parties together, and assist in negotiation.

Which of the following product differentiation strategies would NOT allow retailers to significantly distinguish themselves from others?

A _________consists of a wholesaler- sponsored group of independent retailers engaged in bulk buying and common warehousing.

A store that consistently offers merchandise at lower prices, offering national brands rather than inferior goods or seconds is referred to as a(n):

Tom loves to go to the Nike Store where he finds athletic shoes and clothing at lower prices than at department stores. The Nike Store carries leftover merchandise, overruns and irregulars. This retail store is an example of a:

Both wholesale merchants and industrial distributors are a type of full- service wholesaler.

While online retailing has taken market share from store retailers, a large percentage of online retail sales are conducted by store retailers themselves.

Retailers who typically offer some sales assistance and information as well as credit and merchandise return services to support the sale of the shopping goods they carry are known as:

speciality stores and department stores are limited service retailers.

Which of the following statements about off- price retailers is TRUE?

Corporations that combine several different retailing forms under central ownership and that share some distribution and management functions are called:

A store that sells at less than standard retail prices, but tends to offer an unstable and changing collection of higher quality merchandise, including leftover goods, production overruns and irregular items obtained at reduced prices from independent manufacturers is known as a(n):

Manufacturers' agents, also called manufacturers' representatives, are owned by the manufacturer.

A role similar to that of brokers or agents, but which is part of the buyer's organisation is performed by a:

Marketing: Creating Superior Customer Value

Marketing: Delivering and Capturing Value

Strategic Planning and Marketing

Marketing Strategies for Competitive Advantage

The Global Marketing Environment

Information Management and Marketing Research

Consumer Behaviour

Business-To-Business Behaviour

Market Segmentation, Targeting and Positioning

Products and Services Marketing

New Products

Pricing for Value

Marketing Channels and Logistics Networks

Advertising and Public Relations

Sales Promotion and Selling

Direct and Online Marketing

Tapping Into Markets Across the Globe

Responsible Marketing

Filters

Exam 14: Retailing and Wholesaling

How do wholesalers' marketing decisions differ from a retailer's?

Retailers can be classified in a variety of ways. Which of the following is NOT one of the standard ways to classify retail operations?

Franchising is one of the fastest growing forms of retail.

The wholesaler who brings buyers and sellers together and assists in negotiation is called a:

The relationship between broker and customer is more permanent than the relationship between agent and customer.

Brokers are essentially specialists who locate buyers or sellers, bring the two parties together, and assist in negotiation.

Which of the following product differentiation strategies would NOT allow retailers to significantly distinguish themselves from others?

A _________consists of a wholesaler- sponsored group of independent retailers engaged in bulk buying and common warehousing.

A store that consistently offers merchandise at lower prices, offering national brands rather than inferior goods or seconds is referred to as a(n):

Tom loves to go to the Nike Store where he finds athletic shoes and clothing at lower prices than at department stores. The Nike Store carries leftover merchandise, overruns and irregulars. This retail store is an example of a:

Both wholesale merchants and industrial distributors are a type of full- service wholesaler.

While online retailing has taken market share from store retailers, a large percentage of online retail sales are conducted by store retailers themselves.

Retailers who typically offer some sales assistance and information as well as credit and merchandise return services to support the sale of the shopping goods they carry are known as:

speciality stores and department stores are limited service retailers.

Which of the following statements about off- price retailers is TRUE?

Corporations that combine several different retailing forms under central ownership and that share some distribution and management functions are called:

A store that sells at less than standard retail prices, but tends to offer an unstable and changing collection of higher quality merchandise, including leftover goods, production overruns and irregular items obtained at reduced prices from independent manufacturers is known as a(n):

Manufacturers' agents, also called manufacturers' representatives, are owned by the manufacturer.

A role similar to that of brokers or agents, but which is part of the buyer's organisation is performed by a:

Marketing: Creating Superior Customer Value

Marketing: Delivering and Capturing Value

Strategic Planning and Marketing

Marketing Strategies for Competitive Advantage

The Global Marketing Environment

Information Management and Marketing Research

Consumer Behaviour

Business-To-Business Behaviour

Market Segmentation, Targeting and Positioning

Products and Services Marketing

New Products

Pricing for Value

Marketing Channels and Logistics Networks

Advertising and Public Relations

Sales Promotion and Selling

Direct and Online Marketing

Tapping Into Markets Across the Globe

Responsible Marketing

Filters