Question 1

Which of the following statements is true with regard to retailing?

Accepted Answer

A) All retail stores are full-service retail stores. 
B) A department store has a narrow product line with a deep assortment. 
C) The largest type of retail outlets is the supermarkets. 
D) Services like hotels, banks, airlines, restaurants, colleges, and hospitals can be retailed. 
E) A feature common to all types of retail stores is the use of the everyday low pricing strategy. 
A) All retail stores are full-service retail stores. 
B) A department store has a narrow product line with a deep assortment. 
C) The largest type of retail outlets is the supermarkets. 
D) Services like hotels, banks, airlines, restaurants, colleges, and hospitals can be retailed. 
E) A feature common to all types of retail stores is the use of the everyday low pricing strategy.

Question 2

________ are flourishing due to increased use of market segmentation and market targeting.

Accepted Answer

A) Convenience stores 
B) Specialty stores 
C) Department stores 
D) Discount stores 
E) Off-price stores 
A) Convenience stores 
B) Specialty stores 
C) Department stores 
D) Discount stores 
E) Off-price stores

Question 3

Specialty stores carry several product lines,while a narrow product line with a deep assortment is a feature of discount stores.

Accepted Answer

A) True 
 B)False

Question 4

A ________ contains between 15 and 50 retail stores,including a department or variety store,a supermarket,specialty stores,professional offices,and sometimes a bank.

Accepted Answer

A) community shopping center 
B) warehouse club 
C) franchise organization 
D) lifestyle center 
E) power center 
A) community shopping center 
B) warehouse club 
C) franchise organization 
D) lifestyle center 
E) power center

Question 5

Independent off-price retailers purchase merchandise at rates that are susbtantially higher than the regular wholesale rates.

Accepted Answer

A) True 
 B)False

Question 6

In recent years,convenience stores have redesigned their stores to closely focus on serving their primary target market which includes young,blue-collar men.

Accepted Answer

A) True 
 B)False

Question 7

Corporate chains are located near a residential area and are open long hours,seven days a week; they carry a limited line of high-turnover goods.

Accepted Answer

A) True 
 B)False

Question 8

Whereas value-retail centers consist primarily of manufacturers' outlets,outlet malls combine manufacturers' outlets with off-price retail stores and department store clearance outlets.

Accepted Answer

A) True 
 B)False

Question 9

Manufacturers' agents are ________.

Accepted Answer

A) exclusively hired in agricultural marketing by farmers who do not want to sell their own output 
B) employed by the buyer's organization and authorized to take title to goods 
C) wholesalers who carry a limited line of fast-moving goods and sell to small retailers for cash without providing delivery 
D) hired by two or more manufacturers of complementary lines who cannot afford their own field sales forces 
E) a type of limited-service wholesalers for goods requiring minimal consumer information 
A) exclusively hired in agricultural marketing by farmers who do not want to sell their own output 
B) employed by the buyer's organization and authorized to take title to goods 
C) wholesalers who carry a limited line of fast-moving goods and sell to small retailers for cash without providing delivery 
D) hired by two or more manufacturers of complementary lines who cannot afford their own field sales forces 
E) a type of limited-service wholesalers for goods requiring minimal consumer information

Question 10

Power centers are characterized by the ________.

Accepted Answer

A) lack of an anchor store 
B) sale of exclusive brands only 
C) provision of individual entrances to each store 
D) provision of high-end stores and nonretail luxury activities 
E) absence of any pricing strategies for differentiation 
A) lack of an anchor store 
B) sale of exclusive brands only 
C) provision of individual entrances to each store 
D) provision of high-end stores and nonretail luxury activities 
E) absence of any pricing strategies for differentiation

Question 11

Jacob Kendler works in the wholesale business for specific types of industrial goods needed in the automobile industry.Jacob's job involves locating and contacting potential buyers and sellers and facilitating the negotiation process.Which of the following,if true,would strengthen the argument that Jacob works as a merchant wholesaler,and not an agent?

Accepted Answer

A) Jacob has no defined role in the distribution mechanism of the goods he purchases for the company. 
B) Jacob runs an independently owned business that requires him to take title to all merchandise handled. 
C) Jacob receives commission for bringing together buyers and sellers for negotiations as and when required. 
D) Jacob is a part of the buyer's organization but lacks the contractual authority to sell the entire output at his disposal. 
E) Jacob is allowed to take physical, but not legal possession of the merchandise he handles. 
A) Jacob has no defined role in the distribution mechanism of the goods he purchases for the company. 
B) Jacob runs an independently owned business that requires him to take title to all merchandise handled. 
C) Jacob receives commission for bringing together buyers and sellers for negotiations as and when required. 
D) Jacob is a part of the buyer's organization but lacks the contractual authority to sell the entire output at his disposal. 
E) Jacob is allowed to take physical, but not legal possession of the merchandise he handles.

Question 12

A convenience store is most likely to be ________.

Accepted Answer

A) operating in commercial centers away from residential hubs 
B) stocking a narrow product line with deep assortment 
C) carrying a limited line of high-turnover daily needs products 
D) charging consumers significantly lower prices than retail stores 
E) providing consumers full service in making purchase decisions 
A) operating in commercial centers away from residential hubs 
B) stocking a narrow product line with deep assortment 
C) carrying a limited line of high-turnover daily needs products 
D) charging consumers significantly lower prices than retail stores 
E) providing consumers full service in making purchase decisions

Question 13

A ________ is a smaller mall with upscale stores,convenient locations,and nonretail activities such as a playground,dining,and a movie theater.It is typically located near affluent residential neighborhoods.

Accepted Answer

A) regional shopping center 
B) lifestyle center 
C) community shopping center 
D) wholesaling center 
E) warehouse club 
A) regional shopping center 
B) lifestyle center 
C) community shopping center 
D) wholesaling center 
E) warehouse club

Question 14

Describe the different types of limited-service wholesalers.

Accepted Answer

Limited-service wholesalers offer fewer

Question 15

Amex Retail,the country's largest and oldest retail chain,has been voted as one of the most influential companies of the country recently.The company aims to capitalize this opportunity and make some significant marketing moves that will capture the attention of consumers,politicians,and environmentalists.The company was one of the first to do away with plastic bags and the Public Relations division is contemplating taking this dimension of their retailing practice further.Would this move reflect sound business tactics? What measures can Amex Retail take in this direction?

Accepted Answer

(Students' answer may vary.The answer gi

Question 16

Jack and Judith recently moved into a new city and discovered that some of their home appliances and electronic gadgets had been damaged in transit.Their new neighbor,Will,suggested that they go to All Needs Depot to pick up replacements for their damaged goods.Will informed them that this store stocked several hundred product categories with a very deep assortment in every single product line.From the information provided in the scenario,All Needs Depot is most likely a ________.

Accepted Answer

A) designer shop 
B) pop-up store 
C) category killer 
D) lifestyle center 
E) factory outlet 
A) designer shop 
B) pop-up store 
C) category killer 
D) lifestyle center 
E) factory outlet

Question 17

Retail convergence directly leads to ________.

Accepted Answer

A) reduced differentiation 
B) reduced competition 
C) increased sales 
D) increased profit margins 
E) reduced need for product assortment 
A) reduced differentiation 
B) reduced competition 
C) increased sales 
D) increased profit margins 
E) reduced need for product assortment

Question 18

The wheel-of-retailing concept deals mainly with wholesalers rolling out reduced service levels.

Accepted Answer

A) True 
 B)False

Question 19

Venns is a chain of department stores that has become more focused and stocks only exclusive labels of designer home accessories now.Venns has transformed itself into a chain of pop-up stores.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following types of stores usually carries more specialty goods for which customers like to be "waited on" and have much higher operating costs that are passed along to the customer?

Accepted Answer

A) self-service stores 
B) convenience stores 
C) full-service stores 
D) discount stores 
E) off-price stores 
A) self-service stores 
B) convenience stores 
C) full-service stores 
D) discount stores 
E) off-price stores

Which of the following statements is true with regard to retailing?

________ are flourishing due to increased use of market segmentation and market targeting.

Specialty stores carry several product lines,while a narrow product line with a deep assortment is a feature of discount stores.

A ________ contains between 15 and 50 retail stores,including a department or variety store,a supermarket,specialty stores,professional offices,and sometimes a bank.

Independent off-price retailers purchase merchandise at rates that are susbtantially higher than the regular wholesale rates.

In recent years,convenience stores have redesigned their stores to closely focus on serving their primary target market which includes young,blue-collar men.

Corporate chains are located near a residential area and are open long hours,seven days a week; they carry a limited line of high-turnover goods.

Whereas value-retail centers consist primarily of manufacturers' outlets,outlet malls combine manufacturers' outlets with off-price retail stores and department store clearance outlets.

Manufacturers' agents are ________.

Power centers are characterized by the ________.

A convenience store is most likely to be ________.

A ________ is a smaller mall with upscale stores,convenient locations,and nonretail activities such as a playground,dining,and a movie theater.It is typically located near affluent residential neighborhoods.

Describe the different types of limited-service wholesalers.

Retail convergence directly leads to ________.

The wheel-of-retailing concept deals mainly with wholesalers rolling out reduced service levels.

Venns is a chain of department stores that has become more focused and stocks only exclusive labels of designer home accessories now.Venns has transformed itself into a chain of pop-up stores.

Which of the following types of stores usually carries more specialty goods for which customers like to be "waited on" and have much higher operating costs that are passed along to the customer?

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

Exam 11: Retailing and Wholesaling

Which of the following statements is true with regard to retailing?

________ are flourishing due to increased use of market segmentation and market targeting.

Specialty stores carry several product lines,while a narrow product line with a deep assortment is a feature of discount stores.

A ________ contains between 15 and 50 retail stores,including a department or variety store,a supermarket,specialty stores,professional offices,and sometimes a bank.

Independent off-price retailers purchase merchandise at rates that are susbtantially higher than the regular wholesale rates.

In recent years,convenience stores have redesigned their stores to closely focus on serving their primary target market which includes young,blue-collar men.

Corporate chains are located near a residential area and are open long hours,seven days a week; they carry a limited line of high-turnover goods.

Whereas value-retail centers consist primarily of manufacturers' outlets,outlet malls combine manufacturers' outlets with off-price retail stores and department store clearance outlets.

Manufacturers' agents are ________.

Power centers are characterized by the ________.

A convenience store is most likely to be ________.

A ________ is a smaller mall with upscale stores,convenient locations,and nonretail activities such as a playground,dining,and a movie theater.It is typically located near affluent residential neighborhoods.

Describe the different types of limited-service wholesalers.

Retail convergence directly leads to ________.

The wheel-of-retailing concept deals mainly with wholesalers rolling out reduced service levels.

Venns is a chain of department stores that has become more focused and stocks only exclusive labels of designer home accessories now.Venns has transformed itself into a chain of pop-up stores.

Which of the following types of stores usually carries more specialty goods for which customers like to be "waited on" and have much higher operating costs that are passed along to the customer?

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