Question 1

Retailers can position themselves as offering one of four service levels.Which of the following is NOT one of these levels

Accepted Answer

A)  Self-selection 
B)  Self-service 
C)  Limited service 
D)  Direct service 
E)  Full service 
A)  Self-selection 
B)  Self-service 
C)  Limited service 
D)  Direct service 
E)  Full service

Question 2

Companies are reducing their inventory costs by treating inventory items differently,positioning them according to risk and opportunity.High-risk,low-opportunity items are known as ________.

Accepted Answer

A)  nuisance items 
B)  bottleneck items 
C)  commodities 
D)  critical items 
E)  containerized items 
A)  nuisance items 
B)  bottleneck items 
C)  commodities 
D)  critical items 
E)  containerized items

Question 3

In your neighborhood there is a small men's store that has a limited selection of clothing,but the selection that is carried is of very high quality and price.Services include free alterations and tailoring,personalized record keeping,and free dry cleaning.The inside of the store has deep leather chairs and couches and thick pile carpet.Upon entering the store,one feels "special and rich." In terms of differentiation,what is this retailer trying to communicate by its decorations and service level

Accepted Answer

A)  Differentiation based upon services mix and atmosphere 
B)  Differentiation based upon prepurchase services 
C)  Differentiation based upon postpurchase services and atmosphere 
D)  Differentiation based upon ancillary services and atmosphere 
E)  None of the above 
A)  Differentiation based upon services mix and atmosphere 
B)  Differentiation based upon prepurchase services 
C)  Differentiation based upon postpurchase services and atmosphere 
D)  Differentiation based upon ancillary services and atmosphere 
E)  None of the above

Question 4

Wal-Mart's Ol'Roy dog food has surpassed Nestlé's Purina brand as the top-selling dog chow.Ol'Roy is an example of a ________.

Accepted Answer

A)  generic 
B)  national brand 
C)  franchise 
D)  copy-cat brand 
E)  private-label brand 
A)  generic 
B)  national brand 
C)  franchise 
D)  copy-cat brand 
E)  private-label brand

Question 5

The "wheel-of-retailing" hypothesis explains one reason that new store types emerge.Explain this hypothesis and delineate the four service levels available to retailers.

Accepted Answer

The "wheel-of-retailing" hypothesis stat

Question 6

Major retailer types include the following EXCEPT ________.

Accepted Answer

A)  specialty store 
B)  discount store 
C)  catalog showroom 
D)  the Internet 
E)  superstore 
A)  specialty store 
B)  discount store 
C)  catalog showroom 
D)  the Internet 
E)  superstore

Question 7

One of a retailer's most important decisions is "location,location,location."

Accepted Answer

A) True 
 B)False

Question 8

Fine specialty retailers most likely fall into the ________ group with respect to margins and volume.

Accepted Answer

A)  mixed markup, high-volume 
B)  low-volume, mixed markup 
C)  low-volume, low-markup 
D)  high-volume, high-markup 
E)  high-markup, lower-volume 
A)  mixed markup, high-volume 
B)  low-volume, mixed markup 
C)  low-volume, low-markup 
D)  high-volume, high-markup 
E)  high-markup, lower-volume

Question 9

The choice of transportation methods of distribution have negligible effects on the prices charged for the product and therefore marketers need not be overly involved in this process.

Accepted Answer

A) True 
 B)False

Question 10

As a marketing intern,your job is to "hang out at the mall" and note the percentage of people who enter a particular store versus those who pass by it.This is an example of _________ for retailers.

Accepted Answer

A)  measuring advertisement effectiveness 
B)  measuring foot traffic at the mall 
C)  measuring consumer shopping patterns 
D)  measuring retail sales effectiveness 
E)  measuring retail locations 
A)  measuring advertisement effectiveness 
B)  measuring foot traffic at the mall 
C)  measuring consumer shopping patterns 
D)  measuring retail sales effectiveness 
E)  measuring retail locations

Question 11

All of the benefits in a franchising system accrue to the franchisor because the franchisor is able to concentrate the risk and effort associated with running a store in the hands of the franchisee.

Accepted Answer

A) True 
 B)False

Question 12

Your company's order-to-payment cycle is 50 days.The average for your industry is 45 days.Your boss has asked you to reduce this cycle to the industry's average.To accomplish this goal,you begin to outline the "processes" in the order-to-payment cycle to find out where improvements can be made.List the processes that make up the order-to-payment cycle.

Accepted Answer

The order-to-payment cycle is the elapse

Question 13

Retailers examining their product mix find that a third of their products are not profitable or do not make economic sense.Yet these products still take up retail shelf space.Why does this continue and what techniques are retailers using to "tighten" this process

Accepted Answer

Most retailers do not know which third o

Question 14

Retailers are facing increasing competition from other manufacturer-to-consumer distribution channels.A retailer must develop a product-differentiation strategy.The author suggests seven product-differentiation strategies.List and explain these seven.

Accepted Answer

The seven possibilities are: (1)Feature

Question 15

A brand developed by a retailer and/or wholesaler that is available only in selected retail outlets is called a _________ brand.

Accepted Answer

A)  national 
B)  household 
C)  premium 
D)  selective 
E)  private-label 
A)  national 
B)  household 
C)  premium 
D)  selective 
E)  private-label

Question 16

The first step to retail category management is to ________,which means deciding where to draw the line between product categories.

Accepted Answer

A)  set goals 
B)  choose the audience 
C)  figure out tactics 
D)  define the category 
E)  figure out the category's role 
A)  set goals 
B)  choose the audience 
C)  figure out tactics 
D)  define the category 
E)  figure out the category's role

Question 17

Order-processing costs must be compared with inventory-carrying costs because as the amount of stock carried increases,the higher the inventory-carrying costs.

Accepted Answer

A) True 
 B)False

Question 18

________ warehouses store goods for moderate to long periods of time.

Accepted Answer

A)  Distribution 
B)  Automated 
C)  Storage 
D)  Company-owned 
E)  Local 
A)  Distribution 
B)  Automated 
C)  Storage 
D)  Company-owned 
E)  Local

Question 19

Identify and describe three of the six major types of corporate retail organizations.

Accepted Answer

The six major types of corporate retail

Question 20

One of the four major decisions that must be made about market logistics is: How much inventory do we keep in the warehouse

Accepted Answer

A) True 
 B)False

Retailers can position themselves as offering one of four service levels.Which of the following is NOT one of these levels

Companies are reducing their inventory costs by treating inventory items differently,positioning them according to risk and opportunity.High-risk,low-opportunity items are known as ________.

Wal-Mart's Ol'Roy dog food has surpassed Nestlé's Purina brand as the top-selling dog chow.Ol'Roy is an example of a ________.

The "wheel-of-retailing" hypothesis explains one reason that new store types emerge.Explain this hypothesis and delineate the four service levels available to retailers.

Major retailer types include the following EXCEPT ________.

One of a retailer's most important decisions is "location,location,location."

Fine specialty retailers most likely fall into the ________ group with respect to margins and volume.

The choice of transportation methods of distribution have negligible effects on the prices charged for the product and therefore marketers need not be overly involved in this process.

As a marketing intern,your job is to "hang out at the mall" and note the percentage of people who enter a particular store versus those who pass by it.This is an example of _________ for retailers.

All of the benefits in a franchising system accrue to the franchisor because the franchisor is able to concentrate the risk and effort associated with running a store in the hands of the franchisee.

Retailers examining their product mix find that a third of their products are not profitable or do not make economic sense.Yet these products still take up retail shelf space.Why does this continue and what techniques are retailers using to "tighten" this process

Retailers are facing increasing competition from other manufacturer-to-consumer distribution channels.A retailer must develop a product-differentiation strategy.The author suggests seven product-differentiation strategies.List and explain these seven.

A brand developed by a retailer and/or wholesaler that is available only in selected retail outlets is called a _________ brand.

The first step to retail category management is to ________,which means deciding where to draw the line between product categories.

Order-processing costs must be compared with inventory-carrying costs because as the amount of stock carried increases,the higher the inventory-carrying costs.

________ warehouses store goods for moderate to long periods of time.

Identify and describe three of the six major types of corporate retail organizations.

One of the four major decisions that must be made about market logistics is: How much inventory do we keep in the warehouse

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, Satisfaction, and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Dealing with Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Introducing New Market Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

Filters

Exam 16: Managing Retailing, Wholesaling, and Logistics

Retailers can position themselves as offering one of four service levels.Which of the following is NOT one of these levels

Companies are reducing their inventory costs by treating inventory items differently,positioning them according to risk and opportunity.High-risk,low-opportunity items are known as ________.

Wal-Mart's Ol'Roy dog food has surpassed Nestlé's Purina brand as the top-selling dog chow.Ol'Roy is an example of a ________.

The "wheel-of-retailing" hypothesis explains one reason that new store types emerge.Explain this hypothesis and delineate the four service levels available to retailers.

Major retailer types include the following EXCEPT ________.

One of a retailer's most important decisions is "location,location,location."

Fine specialty retailers most likely fall into the ________ group with respect to margins and volume.

The choice of transportation methods of distribution have negligible effects on the prices charged for the product and therefore marketers need not be overly involved in this process.

As a marketing intern,your job is to "hang out at the mall" and note the percentage of people who enter a particular store versus those who pass by it.This is an example of _________ for retailers.

All of the benefits in a franchising system accrue to the franchisor because the franchisor is able to concentrate the risk and effort associated with running a store in the hands of the franchisee.

Retailers examining their product mix find that a third of their products are not profitable or do not make economic sense.Yet these products still take up retail shelf space.Why does this continue and what techniques are retailers using to "tighten" this process

Retailers are facing increasing competition from other manufacturer-to-consumer distribution channels.A retailer must develop a product-differentiation strategy.The author suggests seven product-differentiation strategies.List and explain these seven.

A brand developed by a retailer and/or wholesaler that is available only in selected retail outlets is called a _________ brand.

The first step to retail category management is to ________,which means deciding where to draw the line between product categories.

Order-processing costs must be compared with inventory-carrying costs because as the amount of stock carried increases,the higher the inventory-carrying costs.

________ warehouses store goods for moderate to long periods of time.

Identify and describe three of the six major types of corporate retail organizations.

One of the four major decisions that must be made about market logistics is: How much inventory do we keep in the warehouse

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, Satisfaction, and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Dealing with Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Introducing New Market Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

Filters