Question 1

An objective of customer-service strategy is to identify the cost of services and adjust prices to cover them.

Accepted Answer

A) True 
 B)False

Question 2

From the retailer point of view, which statement best describes a store's exterior appearance, including architectural design, window displays, signs, and entryways?

Accepted Answer

A)  It is a major cost factor in the pricing of the goods sold by a store. 
B)  It helps to identify the retailer and attract its target market. 
C)  It generally has little effect on the retailer's image. 
D)  It should be different from one store of the same chain to another to provide variety. 
A)  It is a major cost factor in the pricing of the goods sold by a store. 
B)  It helps to identify the retailer and attract its target market. 
C)  It generally has little effect on the retailer's image. 
D)  It should be different from one store of the same chain to another to provide variety.

Question 3

What type of shopping centre serves at least 250,000 people within a 30-minute driving-time radius and usually houses several major department stores in addition to as many as 200 smaller stores?

Accepted Answer

A)  neighbourhood shopping centre 
B)  regional shopping centre 
C)  power centre 
D)  community shopping centre 
A)  neighbourhood shopping centre 
B)  regional shopping centre 
C)  power centre 
D)  community shopping centre

Question 4

Who is the wholesaling intermediary that operates on a one-time basis for either sellers or buyers of such products as real estate, frozen foods, and used machinery?

Accepted Answer

A)  selling agent 
B)  broker 
C)  auction house 
D)  drop shipper 
A)  selling agent 
B)  broker 
C)  auction house 
D)  drop shipper

Question 5

Which of the following is an example of nonstore retailing?

Accepted Answer

A)  self-service retailing 
B)  e-tailing 
C)  catalogue showrooms 
D)  mass merchandising 
A)  self-service retailing 
B)  e-tailing 
C)  catalogue showrooms 
D)  mass merchandising

Question 6

Markdowns occur only when fashion trends reduce the appeal of current merchandise.

Accepted Answer

A) True 
 B)False

Question 7

What is the unique type of limited-line retailer that offers wide selection and low prices in a single product line?

Accepted Answer

A)  value store 
B)  price killer 
C)  category killer 
D)  scrambled retailer 
A)  value store 
B)  price killer 
C)  category killer 
D)  scrambled retailer

Question 8

Wholesaling intermediaries create utility in the form of time, place, ownership, and, in certain cases, possession.

Accepted Answer

A) True 
 B)False

Question 9

Needs and preferences of the target market, offerings of competitors, and the profitability of each product line and category are all factors included in the choice of the perfect merchandising mix for a retailer.

Accepted Answer

A) True 
 B)False

Question 10

What kind of product lines do department stores favour that has led them to eliminate product categories such as toys, appliances, and furniture from their merchandise assortment?

Accepted Answer

A)  product lines that create a more prestigious image 
B)  product lines that have greater profitability 
C)  product lines that directly compete with the competition 
D)  product lines that cannot be purchased online 
A)  product lines that create a more prestigious image 
B)  product lines that have greater profitability 
C)  product lines that directly compete with the competition 
D)  product lines that cannot be purchased online

Question 11

Which of the following is NOT considered to be a category killer?

Accepted Answer

A)  Best Buy electronics stores 
B)  Walmart department stores 
C)  Chapters bookstores 
D)  Home Depot home improvement stores 
A)  Best Buy electronics stores 
B)  Walmart department stores 
C)  Chapters bookstores 
D)  Home Depot home improvement stores

Question 12

Which statement best describes a characteristic of mail-order wholesalers?

Accepted Answer

A)  They are involved in bringing buyers and sellers together. 
B)  They use catalogues to contact retail or industrial customers. 
C)  They carry no inventory, provide no credit, and do not take title to the goods. 
D)  They comprise a very small percentage of full-scale merchant wholesalers. 
A)  They are involved in bringing buyers and sellers together. 
B)  They use catalogues to contact retail or industrial customers. 
C)  They carry no inventory, provide no credit, and do not take title to the goods. 
D)  They comprise a very small percentage of full-scale merchant wholesalers.

Question 13

Match each item to the statement or sentence listed below.
a.stock-keeping unit (SKU)
b.markup
c.markdown
d.retail convergence
e.scrambled merchandising
f.atmospherics
g.broker
h.general merchandise retailer
i.category killer
j.rack jobber
k.supercentre
l.auction house
m.specialty store
n.retailers
o.mass merchandiser
p.truck jobber
q.direct marketing
r.drop shipper
s.planned shopping centre
t.wheel of retailing
-are the marketing intermediaries in direct contact with ultimate consumers.

Accepted Answer

The answer of Match each item to the statement or...

Question 14

What purpose does the sales branch of a manufacturer-owned facility have?

Accepted Answer

A)  It provides space for permanent showrooms and exhibits, which manufactures rent to market their goods. 
B)  It does not carry inventory, but serves as a regional office for a manufacturer's sales personnel. 
C)  It manufactures and packages goods to the order of its customers. 
D)  It carries inventory and processes orders from customers from available stock. 
A)  It provides space for permanent showrooms and exhibits, which manufactures rent to market their goods. 
B)  It does not carry inventory, but serves as a regional office for a manufacturer's sales personnel. 
C)  It manufactures and packages goods to the order of its customers. 
D)  It carries inventory and processes orders from customers from available stock.

Question 15

Aside from the services performed by the retailer, what determines the amount of markup a retailer adds to the product's cost?

Accepted Answer

A)  overhead expenses 
B)  inventory turnover rate 
C)  advertising costs 
D)  return on investment objective 
A)  overhead expenses 
B)  inventory turnover rate 
C)  advertising costs 
D)  return on investment objective

Question 16

Which of the following will a retailer's customer-service strategy NOT depend on?

Accepted Answer

A)  store size 
B)  inventory sources 
C)  customer expectations 
D)  services offered by competitors 
A)  store size 
B)  inventory sources 
C)  customer expectations 
D)  services offered by competitors

Question 17

What does the basic objective of all customer services focus on?

Accepted Answer

A)  reducing operational expenses 
B)  surpassing competitors' service offerings 
C)  ensuring employees are happy and motivated 
D)  attracting and retaining target customers 
A)  reducing operational expenses 
B)  surpassing competitors' service offerings 
C)  ensuring employees are happy and motivated 
D)  attracting and retaining target customers

Question 18

In Canada, cash-and-carry wholesalers are increasing in popularity.

Accepted Answer

A) True 
 B)False

Question 19

Match each item to the statement or sentence listed below.
a.stock-keeping unit (SKU)
b.markup
c.markdown
d.retail convergence
e.scrambled merchandising
f.atmospherics
g.broker
h.general merchandise retailer
i.category killer
j.rack jobber
k.supercentre
l.auction house
m.specialty store
n.retailers
o.mass merchandiser
p.truck jobber
q.direct marketing
r.drop shipper
s.planned shopping centre
t.wheel of retailing
-A(n) _____ is a group of retail stores designed, coordinated, and marketed to shoppers in a geographic trade area.

Accepted Answer

The answer of Match each item to the statement or...

Question 20

Which of the following is NOT a characteristic of discount houses?

Accepted Answer

A)  less customer service 
B)  lower prices 
C)  deeper product lines 
D)  less atmospherics 
A)  less customer service 
B)  lower prices 
C)  deeper product lines 
D)  less atmospherics

An objective of customer-service strategy is to identify the cost of services and adjust prices to cover them.

From the retailer point of view, which statement best describes a store's exterior appearance, including architectural design, window displays, signs, and entryways?

What type of shopping centre serves at least 250,000 people within a 30-minute driving-time radius and usually houses several major department stores in addition to as many as 200 smaller stores?

Who is the wholesaling intermediary that operates on a one-time basis for either sellers or buyers of such products as real estate, frozen foods, and used machinery?

Which of the following is an example of nonstore retailing?

Markdowns occur only when fashion trends reduce the appeal of current merchandise.

What is the unique type of limited-line retailer that offers wide selection and low prices in a single product line?

Wholesaling intermediaries create utility in the form of time, place, ownership, and, in certain cases, possession.

Needs and preferences of the target market, offerings of competitors, and the profitability of each product line and category are all factors included in the choice of the perfect merchandising mix for a retailer.

What kind of product lines do department stores favour that has led them to eliminate product categories such as toys, appliances, and furniture from their merchandise assortment?

Which of the following is NOT considered to be a category killer?

Which statement best describes a characteristic of mail-order wholesalers?

What purpose does the sales branch of a manufacturer-owned facility have?

Aside from the services performed by the retailer, what determines the amount of markup a retailer adds to the product's cost?

Which of the following will a retailer's customer-service strategy NOT depend on?

What does the basic objective of all customer services focus on?

In Canada, cash-and-carry wholesalers are increasing in popularity.

Which of the following is NOT a characteristic of discount houses?

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Digital Marketing and Social Media: Living in the Connected World

Consumer Behaviour

Business-To-Business B2b Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Marketing Segmentation, Targeting, and Positioning

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Integrated Marketing Communications, Advertising, and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

Relationship Marketing and Customer Relationship Management CRM

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Exam 13: Retailers, Wholesalers, and Direct Marketers

An objective of customer-service strategy is to identify the cost of services and adjust prices to cover them.

From the retailer point of view, which statement best describes a store's exterior appearance, including architectural design, window displays, signs, and entryways?

What type of shopping centre serves at least 250,000 people within a 30-minute driving-time radius and usually houses several major department stores in addition to as many as 200 smaller stores?

Who is the wholesaling intermediary that operates on a one-time basis for either sellers or buyers of such products as real estate, frozen foods, and used machinery?

Which of the following is an example of nonstore retailing?

Markdowns occur only when fashion trends reduce the appeal of current merchandise.

What is the unique type of limited-line retailer that offers wide selection and low prices in a single product line?

Wholesaling intermediaries create utility in the form of time, place, ownership, and, in certain cases, possession.

Needs and preferences of the target market, offerings of competitors, and the profitability of each product line and category are all factors included in the choice of the perfect merchandising mix for a retailer.

What kind of product lines do department stores favour that has led them to eliminate product categories such as toys, appliances, and furniture from their merchandise assortment?

Which of the following is NOT considered to be a category killer?

Which statement best describes a characteristic of mail-order wholesalers?

What purpose does the sales branch of a manufacturer-owned facility have?

Aside from the services performed by the retailer, what determines the amount of markup a retailer adds to the product's cost?

Which of the following will a retailer's customer-service strategy NOT depend on?

What does the basic objective of all customer services focus on?

In Canada, cash-and-carry wholesalers are increasing in popularity.

Which of the following is NOT a characteristic of discount houses?

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Digital Marketing and Social Media: Living in the Connected World

Consumer Behaviour

Business-To-Business B2b Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Marketing Segmentation, Targeting, and Positioning

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Integrated Marketing Communications, Advertising, and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

Relationship Marketing and Customer Relationship Management CRM

Filters