Question 1

_____ are retailers that compete on the basis of low prices,high turnover,and high volume.

Accepted Answer

A) Convenience outlets 
B) Discount stores 
C) General stores 
D) Department stores 
E) Specialty stores 
A) Convenience outlets 
B) Discount stores 
C) General stores 
D) Department stores 
E) Specialty stores

Question 2

Diaz
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 $8 per pound Brazilian Cerrado to $300 per pound Kopi Luwak from Sumatra.
-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 3

The main element of Nordstrom's in-store presentation is its ________,the overall impression conveyed by its physical layout,décor,and surroundings.

Accepted Answer

A) organization 
B) atmosphere 
C) attitude 
D) style 
E) design 
A) organization 
B) atmosphere 
C) attitude 
D) style 
E) design

Question 4

The _____ of retail stores is a key factor in their success;the goal is to use all space in the store effectively,including aisles,displays,and even nonselling areas.

Accepted Answer

A) merchandise density 
B) layout 
C) target strategy 
D) merchandise mix 
E) promotional strategy 
A) merchandise density 
B) layout 
C) target strategy 
D) merchandise mix 
E) promotional strategy

Question 5

Walmart
Walmart,the world's largest retailer by revenue,announced that it will get back to its founder's roots by initiating more price cuts.Critics claimed that the giant was getting away from its original focus because it posted relatively high gross profit margins.CEO Mike Duke assuaged critics by saying Walmart's $400 billion in sales will become even larger because the price cuts will attract more customers and it will lower its costs of goods sold.
-Refer to Walmart.Many Walmart stores have a full line of groceries and general merchandise with a wide range of services,such as a pharmacy,portrait studio,optical shop,and bank.Walmart is an example of which type of discount store?

Accepted Answer

A) Hypermarket 
B) Supermarket 
C) Extreme-value retailer 
D) Supercenter 
E) Category killer 
A) Hypermarket 
B) Supermarket 
C) Extreme-value retailer 
D) Supercenter 
E) Category killer

Question 6

When supermarkets offer a wide variety of nontraditional goods and services under one roof,they are engaged in:

Accepted Answer

A) cross-selling. 
B) trading up. 
C) scrambled merchandising. 
D) disintermediation. 
E) cross-docking. 
A) cross-selling. 
B) trading up. 
C) scrambled merchandising. 
D) disintermediation. 
E) cross-docking.

Question 7

Compare and contrast supermarkets and convenience stores.Name several characteristics of each store in your answer.

Accepted Answer

SUPERMARKETS are large,departmentalized,

Question 8

Amy received a phone call last night during supper.The caller wanted her to attend a meeting to learn about timeshares.Since Amy had never thought of purchasing this type of product before she received the call,this is obviously an example of _____ telemarketing.

Accepted Answer

A) outbound 
B) lead generation 
C) customer service 
D) inbound 
E) relationship 
A) outbound 
B) lead generation 
C) customer service 
D) inbound 
E) relationship

Question 9

Which type of retail store specializes in a given type of merchandise?

Accepted Answer

A) An independent store 
B) A department store 
C) A discount store 
D) A specialty store 
E) A first-level store 
A) An independent store 
B) A department store 
C) A discount store 
D) A specialty store 
E) A first-level store

Question 10

M-commerce is a type of managed commerce in which both buyer and seller end the transaction with a win-win feeling.

Accepted Answer

A) True 
 B)False

Question 11

When Irvin went into Lowe's to buy his wife a small tool set she said she wanted,the sales clerk suggested a larger set with a tool kit on wheels that included a router and circular saw.In this example,the sales clerk engaged in:

Accepted Answer

A) trading up. 
B) suggestion selling. 
C) bait and switch. 
D) customer relationship retailing. 
E) service-disguised selling. 
A) trading up. 
B) suggestion selling. 
C) bait and switch. 
D) customer relationship retailing. 
E) service-disguised selling.

Question 12

The number of different varieties of fishing lures carried by the Angler's Store refers to the store's:

Accepted Answer

A) supply standard. 
B) complete retail offering. 
C) retail mix. 
D) volume. 
E) assortment depth. 
A) supply standard. 
B) complete retail offering. 
C) retail mix. 
D) volume. 
E) assortment depth.

Question 13

A retail operation that has a 90,000-square-foot facility and houses a florist,baker,bank,craft shop,photo finisher,dry cleaner,and pharmacy under the same roof as grocery and household items would be called a:

Accepted Answer

A) membership warehouse club. 
B) wholesale outlet. 
C) factory outlet. 
D) supercenter. 
E) mass merchandiser. 
A) membership warehouse club. 
B) wholesale outlet. 
C) factory outlet. 
D) supercenter. 
E) mass merchandiser.

Question 14

Traditional department stores and specialty stores are more likely to charge the full "suggested retail price" for goods than are factory outlets.

Accepted Answer

A) True 
 B)False

Question 15

Toys "R" Us sells a huge assortment of toys and children's books at greatly reduced prices.It offers customers few services and competes on the basis of moderate to low prices on the large quantities of merchandise it stocks.Toys "R" Us is an example of a:

Accepted Answer

A) full-line discount store. 
B) specialty discount store. 
C) general store. 
D) department store. 
E) wholesale store. 
A) full-line discount store. 
B) specialty discount store. 
C) general store. 
D) department store. 
E) wholesale store.

Question 16

Which type of retail ownership is owned and operated by an individual but is licensed by a larger supporting organization?

Accepted Answer

A) Independent retailer 
B) Chain store 
C) Franchise 
D) Cooperative 
E) Secondary retailer 
A) Independent retailer 
B) Chain store 
C) Franchise 
D) Cooperative 
E) Secondary retailer

Question 17

Which type of discount store offers consumers very limited service and carries a broad assortment of nationally branded "hard goods," such as housewares,toys,automotive parts,clothing,bedding,and maybe a limited line of nonperishable food items?

Accepted Answer

A) Full-line discount stores 
B) Discount specialty stores 
C) Factory outlets 
D) Fashion stores 
E) Specialty supercenters 
A) Full-line discount stores 
B) Discount specialty stores 
C) Factory outlets 
D) Fashion stores 
E) Specialty supercenters

Question 18

Walmart
Walmart,the world's largest retailer by revenue,announced that it will get back to its founder's roots by initiating more price cuts.Critics claimed that the giant was getting away from its original focus because it posted relatively high gross profit margins.CEO Mike Duke assuaged critics by saying Walmart's $400 billion in sales will become even larger because the price cuts will attract more customers and it will lower its costs of goods sold.
-Refer to Walmart.In terms of ownership,Walmart would be classified as a(n):

Accepted Answer

A) independent retailer. 
B) chain store. 
C) franchise. 
D) discount store. 
E) department store. 
A) independent retailer. 
B) chain store. 
C) franchise. 
D) discount store. 
E) department store.

Question 19

Which of the following statements about catalog and mail order sales is CORRECT?

Accepted Answer

A) Sales of electronics via mail order and catalogs is virtually nonexistent. 
B) Successful catalogs are usually created and designed for generalized markets. 
C) Women make up the bulk of catalog shoppers. 
D) Catalog and mail order sales is a form of direct retailing. 
E) All of the above statements are correct. 
A) Sales of electronics via mail order and catalogs is virtually nonexistent. 
B) Successful catalogs are usually created and designed for generalized markets. 
C) Women make up the bulk of catalog shoppers. 
D) Catalog and mail order sales is a form of direct retailing. 
E) All of the above statements are correct.

Question 20

Which form of franchising involves a dealer agreeing to sell certain products provided by a manufacturer or a wholesaler?

Accepted Answer

A) Primary franchising 
B) Product and trade name franchising 
C) Business format franchising 
D) Limited franchising 
E) Focused franchising 
A) Primary franchising 
B) Product and trade name franchising 
C) Business format franchising 
D) Limited franchising 
E) Focused franchising

_____ are retailers that compete on the basis of low prices,high turnover,and high volume.

The main element of Nordstrom's in-store presentation is its ________,the overall impression conveyed by its physical layout,décor,and surroundings.

The _____ of retail stores is a key factor in their success;the goal is to use all space in the store effectively,including aisles,displays,and even nonselling areas.

When supermarkets offer a wide variety of nontraditional goods and services under one roof,they are engaged in:

Compare and contrast supermarkets and convenience stores.Name several characteristics of each store in your answer.

Amy received a phone call last night during supper.The caller wanted her to attend a meeting to learn about timeshares.Since Amy had never thought of purchasing this type of product before she received the call,this is obviously an example of _____ telemarketing.

Which type of retail store specializes in a given type of merchandise?

M-commerce is a type of managed commerce in which both buyer and seller end the transaction with a win-win feeling.

When Irvin went into Lowe's to buy his wife a small tool set she said she wanted,the sales clerk suggested a larger set with a tool kit on wheels that included a router and circular saw.In this example,the sales clerk engaged in:

The number of different varieties of fishing lures carried by the Angler's Store refers to the store's:

A retail operation that has a 90,000-square-foot facility and houses a florist,baker,bank,craft shop,photo finisher,dry cleaner,and pharmacy under the same roof as grocery and household items would be called a:

Traditional department stores and specialty stores are more likely to charge the full "suggested retail price" for goods than are factory outlets.

Toys "R" Us sells a huge assortment of toys and children's books at greatly reduced prices.It offers customers few services and competes on the basis of moderate to low prices on the large quantities of merchandise it stocks.Toys "R" Us is an example of a:

Which type of retail ownership is owned and operated by an individual but is licensed by a larger supporting organization?

Which type of discount store offers consumers very limited service and carries a broad assortment of nationally branded "hard goods," such as housewares,toys,automotive parts,clothing,bedding,and maybe a limited line of nonperishable food items?

Which of the following statements about catalog and mail order sales is CORRECT?

Which form of franchising involves a dealer agreeing to sell certain products provided by a manufacturer or a wholesaler?

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 Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Integrated Marketing Communications

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

_____ are retailers that compete on the basis of low prices,high turnover,and high volume.

The main element of Nordstrom's in-store presentation is its ________,the overall impression conveyed by its physical layout,décor,and surroundings.

The _____ of retail stores is a key factor in their success;the goal is to use all space in the store effectively,including aisles,displays,and even nonselling areas.

When supermarkets offer a wide variety of nontraditional goods and services under one roof,they are engaged in:

Compare and contrast supermarkets and convenience stores.Name several characteristics of each store in your answer.

Amy received a phone call last night during supper.The caller wanted her to attend a meeting to learn about timeshares.Since Amy had never thought of purchasing this type of product before she received the call,this is obviously an example of _____ telemarketing.

Which type of retail store specializes in a given type of merchandise?

M-commerce is a type of managed commerce in which both buyer and seller end the transaction with a win-win feeling.

When Irvin went into Lowe's to buy his wife a small tool set she said she wanted,the sales clerk suggested a larger set with a tool kit on wheels that included a router and circular saw.In this example,the sales clerk engaged in:

The number of different varieties of fishing lures carried by the Angler's Store refers to the store's:

A retail operation that has a 90,000-square-foot facility and houses a florist,baker,bank,craft shop,photo finisher,dry cleaner,and pharmacy under the same roof as grocery and household items would be called a:

Traditional department stores and specialty stores are more likely to charge the full "suggested retail price" for goods than are factory outlets.

Toys "R" Us sells a huge assortment of toys and children's books at greatly reduced prices.It offers customers few services and competes on the basis of moderate to low prices on the large quantities of merchandise it stocks.Toys "R" Us is an example of a:

Which type of retail ownership is owned and operated by an individual but is licensed by a larger supporting organization?

Which type of discount store offers consumers very limited service and carries a broad assortment of nationally branded "hard goods," such as housewares,toys,automotive parts,clothing,bedding,and maybe a limited line of nonperishable food items?

Which of the following statements about catalog and mail order sales is CORRECT?

Which form of franchising involves a dealer agreeing to sell certain products provided by a manufacturer or a wholesaler?

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 Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Integrated Marketing Communications

Advertising and Public Relations

Sales Promotion and Personal Selling

Pricing Concepts

Setting the Right Price

Customer Relationship Management Crm

Social Media and Marketing

Filters