Question 1

Retailing includes all the activities involved in selling products or services for industrial and business use.

Accepted Answer

A) True 
 B)False

Question 2

In an automated warehouse,orders are fed directly from the retailer's information system to the wholesaler's,and the items are picked up by mechanical devices and taken to a shipping platform where they are assembled.

Accepted Answer

A) True 
 B)False

Question 3

Bruce Wayne's wholesale company fulfills many channel functions for its customers.In particular,the company differentiates itself by offering ________,such as helping retailers train salesclerks,improve store layouts and displays,and set up inventory control systems.

Accepted Answer

A) buying and assortment building 
B) selling and promotion services 
C) risk bearing services 
D) market information services 
E) management services and advice 
A) buying and assortment building 
B) selling and promotion services 
C) risk bearing services 
D) market information services 
E) management services and advice

Question 4

________ are two or more outlets that are commonly owned and controlled.

Accepted Answer

A) Corporate chains 
B) Factory outlets 
C) Specialty stores 
D) Designer shops 
E) Power centers 
A) Corporate chains 
B) Factory outlets 
C) Specialty stores 
D) Designer shops 
E) Power centers

Question 5

Casey's is a large supermarket that practices everyday low pricing and thus,consumers should expect few discounts or sales if shopping at Casey's regularly.

Accepted Answer

A) True 
 B)False

Question 6

Dina loves branded apparel and accessories but cannot afford to buy them too often.Fortunately,Dina lives close to an off-price retailing outlet that is owned and operated by a famous brand.The company utilizes this store to sell all its surplus,discontinued,or irregular goods at significantly lower costs.This outlet is an example of a ________.

Accepted Answer

A) category killer 
B) factory outlet 
C) specialty store 
D) superstore 
E) power center 
A) category killer 
B) factory outlet 
C) specialty store 
D) superstore 
E) power center

Question 7

Which of the following channel functions of wholesalers is demonstrated when a buyer receives quicker delivery because wholesalers are located closer than are producers?

Accepted Answer

A) buying and assortment building 
B) financing 
C) transportation 
D) risk bearing 
E) warehousing 
A) buying and assortment building 
B) financing 
C) transportation 
D) risk bearing 
E) warehousing

Question 8

Barry's is a chain of retail stores that stocks a large variety of goods and practices high-low prices.This means that Barry's is most likely to ________.

Accepted Answer

A) have low volume and low markups 
B) charge low prices constantly 
C) offer numerous sales or discounts 
D) compete on the basis of price, rather than product or service quality 
E) use predatory pricing to eliminate competition 
A) have low volume and low markups 
B) charge low prices constantly 
C) offer numerous sales or discounts 
D) compete on the basis of price, rather than product or service quality 
E) use predatory pricing to eliminate competition

Question 9

Which of the following conditions would increase the chances of a retailer opting to be categorized as a self-service retailer?

Accepted Answer

A) when the product assortment comprises shopping goods about which consumers need information 
B) when the customers are willing to conduct the locate-compare-select autonomously to save money 
C) when the store is a first-class store in its category selling the finest goods 
D) when the customers are looking for a narrow product line with a deep assortment 
E) when the store has been converted into a designer shop from a departmental store 
A) when the product assortment comprises shopping goods about which consumers need information 
B) when the customers are willing to conduct the locate-compare-select autonomously to save money 
C) when the store is a first-class store in its category selling the finest goods 
D) when the customers are looking for a narrow product line with a deep assortment 
E) when the store has been converted into a designer shop from a departmental store

Question 10

Allstocks.com,a Web seller that buys furniture,clothing,electronics,and more from a variety of producers at less-than-regular wholesale prices and then charges customers less than retail,is a(n)________.

Accepted Answer

A) specialty retailer 
B) independent off-price retailer 
C) departmental retailer 
D) full-service retailer 
E) category killer 
A) specialty retailer 
B) independent off-price retailer 
C) departmental retailer 
D) full-service retailer 
E) category killer

Question 11

Wholesome Corn assembles all the corn produced in its jurisdiction for sale in local markets that use the corn directly or process it to create final products.Wholesome Corn represents a class of wholesalers called producers' cooperatives.

Accepted Answer

A) True 
 B)False

Question 12

Independent retailers are most likely to be ________.

Accepted Answer

A) running specialty stores and designer shops 
B) divided into supercenters and category killers 
C) charging prices that are higher than retail prices to maintain their profit margins 
D) categorized as one of the three variants of off-price retailers 
E) providing full-service to all consumers 
A) running specialty stores and designer shops 
B) divided into supercenters and category killers 
C) charging prices that are higher than retail prices to maintain their profit margins 
D) categorized as one of the three variants of off-price retailers 
E) providing full-service to all consumers

Question 13

The retailer's product assortment should differentiate the retailer while matching target shoppers' expectations.

Accepted Answer

A) True 
 B)False

Question 14

For a retailer to be able to differentiate himself from competitors and match target shoppers' expectations,the product assortment retailed should be ________.

Accepted Answer

A) identical to the product assortment retailed by its competitors 
B) devoid of any blockbuster goods as they divert the attention of consumers 
C) highly targeted or focused on a niche market of potential consumers 
D) constituted by private-label brands, rather than national or exclusive brands 
E) devoid of any seconds, overstocks, and closeouts as this damages the perception of the retailer 
A) identical to the product assortment retailed by its competitors 
B) devoid of any blockbuster goods as they divert the attention of consumers 
C) highly targeted or focused on a niche market of potential consumers 
D) constituted by private-label brands, rather than national or exclusive brands 
E) devoid of any seconds, overstocks, and closeouts as this damages the perception of the retailer

Question 15

________ are the largest group of wholesalers and can be divided into two broad types of wholesalers: full-service and limited-service.

Accepted Answer

A) Brokers 
B) Retailers 
C) Agents 
D) Merchant wholesalers 
E) Specialty wholesalers 
A) Brokers 
B) Retailers 
C) Agents 
D) Merchant wholesalers 
E) Specialty wholesalers

Question 16

The distinction between large retailers and large wholesalers has become more concrete in recent years.

Accepted Answer

A) True 
 B)False

Question 17

Describe superstores,category killers,and service retailers.

Accepted Answer

Superstores are much larger than regular

Question 18

Describe the promotion tools used by retailers.

Accepted Answer

Retailers use any or all of the five pro

Question 19

Today's large and 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) eliminating the need for brokers and agents 
D) increasing their markup and lowering their status of operations 
E) reducing promotional activities 
A) relocating in low-rent, low-tax areas 
B) investing in information technology systems 
C) eliminating the need for brokers and agents 
D) increasing their markup and lowering their status of operations 
E) reducing promotional activities

Question 20

Stores that provide moderate sales assistance because they carry shopping goods about which customers need a moderate level of information are called ________.

Accepted Answer

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

Retailing includes all the activities involved in selling products or services for industrial and business use.

In an automated warehouse,orders are fed directly from the retailer's information system to the wholesaler's,and the items are picked up by mechanical devices and taken to a shipping platform where they are assembled.

Bruce Wayne's wholesale company fulfills many channel functions for its customers.In particular,the company differentiates itself by offering ________,such as helping retailers train salesclerks,improve store layouts and displays,and set up inventory control systems.

________ are two or more outlets that are commonly owned and controlled.

Casey's is a large supermarket that practices everyday low pricing and thus,consumers should expect few discounts or sales if shopping at Casey's regularly.

Which of the following channel functions of wholesalers is demonstrated when a buyer receives quicker delivery because wholesalers are located closer than are producers?

Barry's is a chain of retail stores that stocks a large variety of goods and practices high-low prices.This means that Barry's is most likely to ________.

Which of the following conditions would increase the chances of a retailer opting to be categorized as a self-service retailer?

Allstocks.com,a Web seller that buys furniture,clothing,electronics,and more from a variety of producers at less-than-regular wholesale prices and then charges customers less than retail,is a(n)________.

Wholesome Corn assembles all the corn produced in its jurisdiction for sale in local markets that use the corn directly or process it to create final products.Wholesome Corn represents a class of wholesalers called producers' cooperatives.

Independent retailers are most likely to be ________.

The retailer's product assortment should differentiate the retailer while matching target shoppers' expectations.

For a retailer to be able to differentiate himself from competitors and match target shoppers' expectations,the product assortment retailed should be ________.

________ are the largest group of wholesalers and can be divided into two broad types of wholesalers: full-service and limited-service.

The distinction between large retailers and large wholesalers has become more concrete in recent years.

Describe superstores,category killers,and service retailers.

Describe the promotion tools used by retailers.

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

Stores that provide moderate sales assistance because they carry shopping goods about which customers need a moderate level of information are called ________.

Marketing Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Product,Services,and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Marketing Channels Delivering Customer Value

Communicating Customer Value

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

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Exam 11: Retailing and Wholesaling

Retailing includes all the activities involved in selling products or services for industrial and business use.

In an automated warehouse,orders are fed directly from the retailer's information system to the wholesaler's,and the items are picked up by mechanical devices and taken to a shipping platform where they are assembled.

Bruce Wayne's wholesale company fulfills many channel functions for its customers.In particular,the company differentiates itself by offering ________,such as helping retailers train salesclerks,improve store layouts and displays,and set up inventory control systems.

________ are two or more outlets that are commonly owned and controlled.

Casey's is a large supermarket that practices everyday low pricing and thus,consumers should expect few discounts or sales if shopping at Casey's regularly.

Which of the following channel functions of wholesalers is demonstrated when a buyer receives quicker delivery because wholesalers are located closer than are producers?

Barry's is a chain of retail stores that stocks a large variety of goods and practices high-low prices.This means that Barry's is most likely to ________.

Which of the following conditions would increase the chances of a retailer opting to be categorized as a self-service retailer?

Allstocks.com,a Web seller that buys furniture,clothing,electronics,and more from a variety of producers at less-than-regular wholesale prices and then charges customers less than retail,is a(n)________.

Wholesome Corn assembles all the corn produced in its jurisdiction for sale in local markets that use the corn directly or process it to create final products.Wholesome Corn represents a class of wholesalers called producers' cooperatives.

Independent retailers are most likely to be ________.

The retailer's product assortment should differentiate the retailer while matching target shoppers' expectations.

For a retailer to be able to differentiate himself from competitors and match target shoppers' expectations,the product assortment retailed should be ________.

________ are the largest group of wholesalers and can be divided into two broad types of wholesalers: full-service and limited-service.

The distinction between large retailers and large wholesalers has become more concrete in recent years.

Describe superstores,category killers,and service retailers.

Describe the promotion tools used by retailers.

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

Stores that provide moderate sales assistance because they carry shopping goods about which customers need a moderate level of information are called ________.

Marketing Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Product,Services,and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Marketing Channels Delivering Customer Value

Communicating Customer Value

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters