Question 1

When determining a store's physical facilities, the first thing that should be considered is the store's location.

Accepted Answer

A) True 
 B)False

Question 2

Basically, a _____ is a combined discount store and grocery store.

Accepted Answer

A)  supercenter. 
B)  limited-line store. 
C)  specialty store. 
D)  factory outlet. 
E)  category-killer. 
A)  supercenter. 
B)  limited-line store. 
C)  specialty store. 
D)  factory outlet. 
E)  category-killer.

Question 3

The two types of direct selling are door to door and:

Accepted Answer

A)  direct marketing. 
B)  automatic vending. 
C)  e-commerce. 
D)  party plan. 
E)  catalog retailing. 
A)  direct marketing. 
B)  automatic vending. 
C)  e-commerce. 
D)  party plan. 
E)  catalog retailing.

Question 4

Both Mikell Sevier and Jayson Hammerschmidt are considered comic book experts. They both have an extensive private collection of comics. Both are recognized as experts in their field, and both dream of owning their own business. Sevier wants to open a small retail store in which he buys, sells, and trades comics to other collectors. Hammerschmidt wants to open a similar retail operation on the Internet. Both will offer extensive customer service, and customer satisfaction will be their ultimate goals.
-In terms of classification by marketing strategies, Sevier's store would be categorized as a(n):

Accepted Answer

A)  category-killer store. 
B)  off-price retailer. 
C)  warehouse store. 
D)  specialty store. 
E)  superstore. 
A)  category-killer store. 
B)  off-price retailer. 
C)  warehouse store. 
D)  specialty store. 
E)  superstore.

Question 5

Corporate chain is the most common form of ownership for department stores.

Accepted Answer

A) True 
 B)False

Question 6

One of the major challenges to the success of automatic vending is:

Accepted Answer

A)  the wheel of retailing. 
B)  site selection. 
C)  high operating costs. 
D)  changing demographics. 
E)  liberal return policies. 
A)  the wheel of retailing. 
B)  site selection. 
C)  high operating costs. 
D)  changing demographics. 
E)  liberal return policies.

Question 7

The Dove and Laurel is a Christian book and gift store that operates as an independent retailer. What is the greatest advantage it has over other similar stores that are members of a corporate chain?

Accepted Answer

A)  increased buying power 
B)  flexibility of operation 
C)  ability to use economies of scale in advertising 
D)  division of labor and specialization of management 
E)  ability to take greater financial risks 
A)  increased buying power 
B)  flexibility of operation 
C)  ability to use economies of scale in advertising 
D)  division of labor and specialization of management 
E)  ability to take greater financial risks

Question 8

Which of the following statements about upcoming institutional changes in retailing is True?

Accepted Answer

A)  Most analysts expect there to be less blending of physical stores and online retailers. 
B)  Evolutionary changes in retailing seldom, if ever, follow a pattern. 
C)  More online retailers will establish alliances with established retailers. 
D)  Changes in consumer behavior will have less influence on retailing. 
E)  All of the above statements about upcoming institutional changes in retailing are True. 
A)  Most analysts expect there to be less blending of physical stores and online retailers. 
B)  Evolutionary changes in retailing seldom, if ever, follow a pattern. 
C)  More online retailers will establish alliances with established retailers. 
D)  Changes in consumer behavior will have less influence on retailing. 
E)  All of the above statements about upcoming institutional changes in retailing are True.

Question 9

What is the greatest competitive advantage small retail stores have over large ones?

Accepted Answer

A)  opportunity to experiment with new products 
B)  store brands 
C)  flexibility of operations 
D)  division of labor and specialization of management 
E)  producers' brands 
A)  opportunity to experiment with new products 
B)  store brands 
C)  flexibility of operations 
D)  division of labor and specialization of management 
E)  producers' brands

Question 10

According to census data, what kind of retail operation is MOST likely to be part of a corporate chain?

Accepted Answer

A)  pet supply stores 
B)  hardware store 
C)  restaurants 
D)  department store 
E)  video rental stores 
A)  pet supply stores 
B)  hardware store 
C)  restaurants 
D)  department store 
E)  video rental stores

Question 11

Dwell on the Possibilities is a catalog retailer of "Books for the mind, and art for the soul." Its mailing and printing costs have really increased over the last five years. What would you recommend as the best strategy for the company to use to stay in business and increase profits?

Accepted Answer

A)  Add more product categories. 
B)  Use scrambled merchandising. 
C)  Implement online retailing. 
D)  Print and mail more catalogs. 
E)  Mail more catalogs to people who are known catalog buyers. 
A)  Add more product categories. 
B)  Use scrambled merchandising. 
C)  Implement online retailing. 
D)  Print and mail more catalogs. 
E)  Mail more catalogs to people who are known catalog buyers.

Question 12

Which of the following is an example of a contractual vertical marketing system?

Accepted Answer

A)  a product and trade name franchise like Texaco 
B)  a retailer cooperative like Certified Grocers 
C)  a wholesaler-sponsored voluntary chain like Supervalu 
D)  a business format franchise like Midas 
E)  all of the above 
A)  a product and trade name franchise like Texaco 
B)  a retailer cooperative like Certified Grocers 
C)  a wholesaler-sponsored voluntary chain like Supervalu 
D)  a business format franchise like Midas 
E)  all of the above

Question 13

A corporate chain:

Accepted Answer

A)  contains two or more stores, according to the U.S. Census Bureau. 
B)  gives autonomy to each of its member stores. 
C)  is synonymous with a contractual VMS arrangement. 
D)  has centralized ownership. 
E)  tends to give its member stores a great deal of flexibility. 
A)  contains two or more stores, according to the U.S. Census Bureau. 
B)  gives autonomy to each of its member stores. 
C)  is synonymous with a contractual VMS arrangement. 
D)  has centralized ownership. 
E)  tends to give its member stores a great deal of flexibility.

Question 14

As a retailing method, supermarket retailing:

Accepted Answer

A)  features several related product lines. 
B)  offers a wide variety of customer services. 
C)  has checkout counters in each department. 
D)  uses manufacturers' suggested retail pricing. 
E)  is accurately described by all of the above. 
A)  features several related product lines. 
B)  offers a wide variety of customer services. 
C)  has checkout counters in each department. 
D)  uses manufacturers' suggested retail pricing. 
E)  is accurately described by all of the above.

Question 15

Which of the following types of retail stores typically offers a narrow and very deep product assortment?

Accepted Answer

A)  discount store 
B)  category-killer store 
C)  supermarket 
D)  convenience store 
E)  department store 
A)  discount store 
B)  category-killer store 
C)  supermarket 
D)  convenience store 
E)  department store

Question 16

Convenience stores:

Accepted Answer

A)  typically have higher prices than other kinds of grocery stores. 
B)  offer few customer services. 
C)  compete with both supermarkets and fast-food restaurants. 
D)  are trying to enlarge their profit margins by adding fresh foods and similar products. 
E)  are accurately described by all of the above. 
A)  typically have higher prices than other kinds of grocery stores. 
B)  offer few customer services. 
C)  compete with both supermarkets and fast-food restaurants. 
D)  are trying to enlarge their profit margins by adding fresh foods and similar products. 
E)  are accurately described by all of the above.

Question 17

Which of the following types of retailers are most likely to be involved in a voluntary chain?

Accepted Answer

A)  appliance stores 
B)  bookstores 
C)  small grocery stores 
D)  stores that sells antique reproductions 
E)  clothing stores 
A)  appliance stores 
B)  bookstores 
C)  small grocery stores 
D)  stores that sells antique reproductions 
E)  clothing stores

Question 18

Which of the following merchandise could be effectively sold through the supermarket method of retailing?

Accepted Answer

A)  building materials 
B)  file folders 
C)  pork chops 
D)  computer software 
E)  all of the above 
A)  building materials 
B)  file folders 
C)  pork chops 
D)  computer software 
E)  all of the above

Question 19

Nonstore retailing does NOT include:

Accepted Answer

A)  telemarketing. 
B)  direct marketing. 
C)  online retailing. 
D)  automatic vending. 
E)  warehouse clubs. 
A)  telemarketing. 
B)  direct marketing. 
C)  online retailing. 
D)  automatic vending. 
E)  warehouse clubs.

Question 20

Which of the following is the BEST example of a product and trade name franchise?

Accepted Answer

A)  a Honda automobile dealership 
B)  a Dunkin' Donuts 
C)  an Arthur Murray School of Dance 
D)  Decorating Den 
E)  a 7-Eleven convenience store 
A)  a Honda automobile dealership 
B)  a Dunkin' Donuts 
C)  an Arthur Murray School of Dance 
D)  Decorating Den 
E)  a 7-Eleven convenience store

Exam 15: Retailing

When determining a store's physical facilities, the first thing that should be considered is the store's location.

Basically, a _____ is a combined discount store and grocery store.

The two types of direct selling are door to door and:

Corporate chain is the most common form of ownership for department stores.

One of the major challenges to the success of automatic vending is:

The Dove and Laurel is a Christian book and gift store that operates as an independent retailer. What is the greatest advantage it has over other similar stores that are members of a corporate chain?

Which of the following statements about upcoming institutional changes in retailing is True?

What is the greatest competitive advantage small retail stores have over large ones?

According to census data, what kind of retail operation is MOST likely to be part of a corporate chain?

Dwell on the Possibilities is a catalog retailer of "Books for the mind, and art for the soul." Its mailing and printing costs have really increased over the last five years. What would you recommend as the best strategy for the company to use to stay in business and increase profits?

Which of the following is an example of a contractual vertical marketing system?

A corporate chain:

As a retailing method, supermarket retailing:

Which of the following types of retail stores typically offers a narrow and very deep product assortment?

Convenience stores:

Which of the following types of retailers are most likely to be involved in a voluntary chain?

Which of the following merchandise could be effectively sold through the supermarket method of retailing?

Nonstore retailing does NOT include:

Which of the following is the BEST example of a product and trade name franchise?

The Field of Marketing

The Dynamic Marketing Environment

Global Markets and Marketing

Consumer Markets and Buying Behavior

Business Markets and Buying Behavior

Marketing Research and Market Information

Product Planning and Development

Product-Mix Strategies

Brands, Packaging, and Other Product Features

Services Marketing

Price Determination

Pricing Strategies

Channels of Distribution

Wholesaling and Physical Distribution

Integrated Marketing Communications

Personal Selling and Sales Management

Advertising, Sales Promotion, and Public Relations

Strategic Marketing Planning

Marketing Implementation and Evaluation

Marketing and the Information Economy

Market Segmentation Targeting and Positioning

Filters