Question 1

Retail establishments are generally classified according to all of the following EXCEPT:

Accepted Answer

A)  ownership 
B)  level of sales 
C)  level of service 
D)  price 
E)  product assortment 
A)  ownership 
B)  level of sales 
C)  level of service 
D)  price 
E)  product assortment

Question 2

Dollar General and Family Dollar stores are examples of extreme-value retailers,which entice shoppers from the low-income segment.

Accepted Answer

A) True 
 B)False

Question 3

_____ is the retailing strategy of using moderate to low prices on large quantities of products and lower service to stimulate a high turnover of inventory.

Accepted Answer

A)  Specialty store positioning 
B)  Merchandise positioning 
C)  M-store retailing 
D)  The wheel of retailing 
E)  Mass merchandising 
A)  Specialty store positioning 
B)  Merchandise positioning 
C)  M-store retailing 
D)  The wheel of retailing 
E)  Mass merchandising

Question 4

John Diaz immigrated to Tallahassee from Cuba in the 1980s.He set up a coffee shop called Diaz in a small upper-middle-class neighborhood.It rapidly became popular because of the wonderful coffee it brewed.Soon Diaz was selling the finest coffees from around the world,plus coffee-making necessities such as grinders and brewers.Within ten years,Diaz was operating a lucrative mail-order business in addition to his coffee shop.
Upon entering the shop,the first thing the customer sees is a countertop crowded with all of the machinery needed for making a perfect cup of coffee.Marble-topped tables are set in cozy nooks with overstuffed chairs.Bookshelves on one wall hold books about coffee for patrons to read while they sip.The smell is intoxicating to a real coffee lover.Coffee drinkers can take home a pound when they leave.The store carries all types of coffee from $300 per pound Kopi Luwak from Sumatra to Brazilian Cerrado for $8 a pound.
-Refer to Diaz.The smell of fresh coffee,the fact it is made where drinkers can watch the process,and the comfortable chairs all are used to create the store's:

Accepted Answer

A)  atmosphere 
B)  cultural impact 
C)  target strategy 
D)  merchandise mix 
E)  promotional strategy 
A)  atmosphere 
B)  cultural impact 
C)  target strategy 
D)  merchandise mix 
E)  promotional strategy

Question 5

Specialty stores such as Best Buy,Staples,Dick's Sporting Goods,and Bed,Bath,and Beyond are often called category killers because:

Accepted Answer

A)  they can destroy the profit potential for a category of merchandise for other retailers 
B)  they are located at stand-alone sites 
C)  of their broad merchandise mix and shallow assortment 
D)  they offer an exclusive category of merchandise 
E)  they carry only fast-selling items 
A)  they can destroy the profit potential for a category of merchandise for other retailers 
B)  they are located at stand-alone sites 
C)  of their broad merchandise mix and shallow assortment 
D)  they offer an exclusive category of merchandise 
E)  they carry only fast-selling items

Question 6

Which of the following retailers probably offers the LOWEST level of service?

Accepted Answer

A)  a dressmaker 
B)  a warehouse club 
C)  a small hardware store 
D)  an upscale restaurant 
E)  All retailers offer the same level of service. 
A)  a dressmaker 
B)  a warehouse club 
C)  a small hardware store 
D)  an upscale restaurant 
E)  All retailers offer the same level of service.

Question 7

Direct retailers' sales have skyrocketed over the past few decades as women have entered the workforce.

Accepted Answer

A) True 
 B)False

Question 8

One of the new developments in retailing is m-commerce.The "m" in m-commerce stands for:

Accepted Answer

A)  motivated 
B)  multimedia 
C)  marketing 
D)  managed 
E)  mobile 
A)  motivated 
B)  multimedia 
C)  marketing 
D)  managed 
E)  mobile

Question 9

The party in a franchise relationship that is an individual or business that is granted the right to sell another party's product is called the:

Accepted Answer

A)  franchisor 
B)  franchisee 
C)  receiver 
D)  renter 
E)  owner/operator 
A)  franchisor 
B)  franchisee 
C)  receiver 
D)  renter 
E)  owner/operator

Question 10

The Cedar Store carries a full line of cedar swings,gliders,garden benches,and tables.All of its products can be purchased through its Web site.The site has done well since the Cedar Store's products do not need to be touched or smelled before purchase.The Cedar Store is engaging in:

Accepted Answer

A)  online retailing 
B)  shop-at-home networking 
C)  mobile vending 
D)  franchising 
E)  electronic wholesaling 
A)  online retailing 
B)  shop-at-home networking 
C)  mobile vending 
D)  franchising 
E)  electronic wholesaling

Question 11

Which of the following statements about specialty stores is true?

Accepted Answer

A)  Specialty stores find it easy to compete on price with big-box stores. 
B)  Customers at specialty stores are not concerned with the distinctiveness of the merchandise or the store's physical appearance. 
C)  Customers of specialty stores usually consider price to be secondary. 
D)  Specialty stores are ineffective test markets. 
E)  A typical specialty store carries a wider assortment of specialty merchandise than department stores. 
A)  Specialty stores find it easy to compete on price with big-box stores. 
B)  Customers at specialty stores are not concerned with the distinctiveness of the merchandise or the store's physical appearance. 
C)  Customers of specialty stores usually consider price to be secondary. 
D)  Specialty stores are ineffective test markets. 
E)  A typical specialty store carries a wider assortment of specialty merchandise than department stores.

Question 12

M-commerce involves consumers using wiresless mobile devices to connect to the Internet and shop.

Accepted Answer

A) True 
 B)False

Question 13

_____ is a low-profile,yet important,form of retailing in which consumers get products out of automated machines,and it accounts for $40 billion worth of sales each year in the United States.

Accepted Answer

A)  Automatic vending 
B)  Party-plan selling 
C)  Direct marketing 
D)  A pyramid scheme 
E)  Professional selling 
A)  Automatic vending 
B)  Party-plan selling 
C)  Direct marketing 
D)  A pyramid scheme 
E)  Professional selling

Question 14

Pop-up shops are:

Accepted Answer

A)  Web sites that pop up while you are visiting a site 
B)  m-commerce 
C)  convenience retailing 
D)  e-business 
E)  temporary retail establishments 
A)  Web sites that pop up while you are visiting a site 
B)  m-commerce 
C)  convenience retailing 
D)  e-business 
E)  temporary retail establishments

Question 15

Pick of the Litter has just purchased a sizable plot of land on which it will build a store building with a large parking lot.Across the street is a collection of specialty shops and a furniture store.Pick of the Litter will be part of a strip shopping center.

Accepted Answer

A) True 
 B)False

Question 16

Off-price retailers:

Accepted Answer

A)  are often able to take advantage of manufacturers' faulty sales forecasting 
B)  very often offer a consistent assortment of merchandise 
C)  seldom stock brand-name merchandise 
D)  are owned by the manufacturer of the products they sell 
E)  offer very deep assortments 
A)  are often able to take advantage of manufacturers' faulty sales forecasting 
B)  very often offer a consistent assortment of merchandise 
C)  seldom stock brand-name merchandise 
D)  are owned by the manufacturer of the products they sell 
E)  offer very deep assortments

Question 17

John Diaz immigrated to Tallahassee from Cuba in the 1980s.He set up a coffee shop called Diaz in a small upper-middle-class neighborhood.It rapidly became popular because of the wonderful coffee it brewed.Soon Diaz was selling the finest coffees from around the world,plus coffee-making necessities such as grinders and brewers.Within ten years,Diaz was operating a lucrative mail-order business in addition to his coffee shop.
Upon entering the shop,the first thing the customer sees is a countertop crowded with all of the machinery needed for making a perfect cup of coffee.Marble-topped tables are set in cozy nooks with overstuffed chairs.Bookshelves on one wall hold books about coffee for patrons to read while they sip.The smell is intoxicating to a real coffee lover.Coffee drinkers can take home a pound when they leave.The store carries all types of coffee from $300 per pound Kopi Luwak from Sumatra to Brazilian Cerrado for $8 a pound.
-Refer to Diaz.The type of merchandise carried by Diaz is deep but with a narrow assortment.The store would most likely be classified as a:

Accepted Answer

A)  convenience store 
B)  mass merchandiser 
C)  specialty store 
D)  category killer 
E)  membership club 
A)  convenience store 
B)  mass merchandiser 
C)  specialty store 
D)  category killer 
E)  membership club

Question 18

_____ is defined as all activities directly related to the sale of goods and services to the ultimate consumer for personal,nonbusiness use or consumption.

Accepted Answer

A)  Wholesaling 
B)  Retailing 
C)  Business 
D)  Franchising 
E)  Distribution 
A)  Wholesaling 
B)  Retailing 
C)  Business 
D)  Franchising 
E)  Distribution

Question 19

A recent pricing trend among retailers is EDLP,which stands for:

Accepted Answer

A)  electronic data laser purchasing 
B)  efficient data long-range planning 
C)  everyone doing large purchases 
D)  everyday low pricing 
E)  efficient dollar loss planning 
A)  electronic data laser purchasing 
B)  efficient data long-range planning 
C)  everyone doing large purchases 
D)  everyday low pricing 
E)  efficient dollar loss planning

Question 20

Interactivity is one of the new developments in retailing.In retailing,interactivity refers to:

Accepted Answer

A)  the use of improved communications with customers 
B)  a new form of customer relationship marketing 
C)  entertainment for customers to get them involved 
D)  the use of information kiosks 
E)  the creation of a static atmosphere 
A)  the use of improved communications with customers 
B)  a new form of customer relationship marketing 
C)  entertainment for customers to get them involved 
D)  the use of information kiosks 
E)  the creation of a static atmosphere

Retail establishments are generally classified according to all of the following EXCEPT:

Dollar General and Family Dollar stores are examples of extreme-value retailers,which entice shoppers from the low-income segment.

_____ is the retailing strategy of using moderate to low prices on large quantities of products and lower service to stimulate a high turnover of inventory.

Specialty stores such as Best Buy,Staples,Dick's Sporting Goods,and Bed,Bath,and Beyond are often called category killers because:

Which of the following retailers probably offers the LOWEST level of service?

Direct retailers' sales have skyrocketed over the past few decades as women have entered the workforce.

One of the new developments in retailing is m-commerce.The "m" in m-commerce stands for:

The party in a franchise relationship that is an individual or business that is granted the right to sell another party's product is called the:

The Cedar Store carries a full line of cedar swings,gliders,garden benches,and tables.All of its products can be purchased through its Web site.The site has done well since the Cedar Store's products do not need to be touched or smelled before purchase.The Cedar Store is engaging in:

Which of the following statements about specialty stores is true?

M-commerce involves consumers using wiresless mobile devices to connect to the Internet and shop.

_____ is a low-profile,yet important,form of retailing in which consumers get products out of automated machines,and it accounts for $40 billion worth of sales each year in the United States.

Pop-up shops are:

Pick of the Litter has just purchased a sizable plot of land on which it will build a store building with a large parking lot.Across the street is a collection of specialty shops and a furniture store.Pick of the Litter will be part of a strip shopping center.

Off-price retailers:

_____ is defined as all activities directly related to the sale of goods and services to the ultimate consumer for personal,nonbusiness use or consumption.

A recent pricing trend among retailers is EDLP,which stands for:

Interactivity is one of the new developments in retailing.In retailing,interactivity refers to:

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Decision Support Systems and Marketing Research

Product Decisions

Developing and Managing Products

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Promotional Planning for Competitive Advantage

Advertising and Public Relations

Sales Promotion and Personal Selling

Pricing Concepts

Setting the Right Price

Customer Relationship Management (CRM)

Social Media and Marketing

Filters

Exam 15: Retailing

Retail establishments are generally classified according to all of the following EXCEPT:

Dollar General and Family Dollar stores are examples of extreme-value retailers,which entice shoppers from the low-income segment.

_____ is the retailing strategy of using moderate to low prices on large quantities of products and lower service to stimulate a high turnover of inventory.

Specialty stores such as Best Buy,Staples,Dick's Sporting Goods,and Bed,Bath,and Beyond are often called category killers because:

Which of the following retailers probably offers the LOWEST level of service?

Direct retailers' sales have skyrocketed over the past few decades as women have entered the workforce.

One of the new developments in retailing is m-commerce.The "m" in m-commerce stands for:

The party in a franchise relationship that is an individual or business that is granted the right to sell another party's product is called the:

The Cedar Store carries a full line of cedar swings,gliders,garden benches,and tables.All of its products can be purchased through its Web site.The site has done well since the Cedar Store's products do not need to be touched or smelled before purchase.The Cedar Store is engaging in:

Which of the following statements about specialty stores is true?

M-commerce involves consumers using wiresless mobile devices to connect to the Internet and shop.

_____ is a low-profile,yet important,form of retailing in which consumers get products out of automated machines,and it accounts for $40 billion worth of sales each year in the United States.

Pop-up shops are:

Pick of the Litter has just purchased a sizable plot of land on which it will build a store building with a large parking lot.Across the street is a collection of specialty shops and a furniture store.Pick of the Litter will be part of a strip shopping center.

Off-price retailers:

_____ is defined as all activities directly related to the sale of goods and services to the ultimate consumer for personal,nonbusiness use or consumption.

A recent pricing trend among retailers is EDLP,which stands for:

Interactivity is one of the new developments in retailing.In retailing,interactivity refers to:

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Decision Support Systems and Marketing Research

Product Decisions

Developing and Managing Products

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Promotional Planning for Competitive Advantage

Advertising and Public Relations

Sales Promotion and Personal Selling

Pricing Concepts

Setting the Right Price

Customer Relationship Management (CRM)

Social Media and Marketing

Filters