Question 1

The two kinds of _____ _____ are door-to-door and party plan.

Accepted Answer

The answer of The two kinds of _____ _____ are...

Question 2

Compared to wholesalers, retailers:

Accepted Answer

A)  have lower total sales. 
B)  buy larger quantities of merchandise. 
C)  have higher rates of merchandise turnover. 
D)  use their sales people more efficiently. 
E)  do all of the above. 
A)  have lower total sales. 
B)  buy larger quantities of merchandise. 
C)  have higher rates of merchandise turnover. 
D)  use their sales people more efficiently. 
E)  do all of the above.

Question 3

Athletic club memberships, AKC-registered puppies, magazine subscriptions, and formal attire can all be readily sold through telemarketing.

Accepted Answer

A) True 
 B)False

Question 4

The focus of product and trade name franchising is on:

Accepted Answer

A)  the type of ownership. 
B)  what is sold. 
C)  where the store is located. 
D)  store design and layout. 
E)  how the business is run. 
A)  the type of ownership. 
B)  what is sold. 
C)  where the store is located. 
D)  store design and layout. 
E)  how the business is run.

Question 5

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 deciding on his store's physical facilities, Sevier must consider:

Accepted Answer

A)  store size. 
B)  store location. 
C)  store interior and exterior design. 
D)  how the store will be laid out. 
E)  all of the above. 
A)  store size. 
B)  store location. 
C)  store interior and exterior design. 
D)  how the store will be laid out. 
E)  all of the above.

Question 6

If Kenneth wanted to go to one store to buy new underwear, the newest CD by LoneStar, a gallon of milk, a pound of salami, a loaf of bread, and a new bed pillow he would most likely find all these items at a:

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 7

Convenience stores compete with both supermarkets and fast-food restaurants.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following statements about regional centers is True?

Accepted Answer

A)  The average amount of time consumers spend in regional shopping centers has increased over the last two decades. 
B)  Virtually all consumers enjoy regional centers as a great place to socialize. 
C)  Entertainment is taking center stage in some of today's malls, both renovated ones and new ones. 
D)  The period between 1995 and 2000 was a time of tremendous growth in the number of regional malls. 
E)  All of the above statements about regional centers are True. 
A)  The average amount of time consumers spend in regional shopping centers has increased over the last two decades. 
B)  Virtually all consumers enjoy regional centers as a great place to socialize. 
C)  Entertainment is taking center stage in some of today's malls, both renovated ones and new ones. 
D)  The period between 1995 and 2000 was a time of tremendous growth in the number of regional malls. 
E)  All of the above statements about regional centers are True.

Question 9

A _____ has a narrow but very deep assortment, emphasizes low prices, and is designed to destroy all competition in a specific product category.

Accepted Answer

A)  category-killer store 
B)  limited-line store 
C)  specialty store 
D)  warehouse club 
E)  factory outlet 
A)  category-killer store 
B)  limited-line store 
C)  specialty store 
D)  warehouse club 
E)  factory outlet

Question 10

______ is a major factor in the success of corporate chains.

Accepted Answer

A)  A high degree of standardization 
B)  Decentralization 
C)  A high degree of local autonomy 
D)  Delegation 
E)  A wide span of control 
A)  A high degree of standardization 
B)  Decentralization 
C)  A high degree of local autonomy 
D)  Delegation 
E)  A wide span of control

Question 11

There are many Harry Potter fans. Ultimate consumers wishing to purchase replicas of props used in Harry Potter movies, wands, and collector chess sets based on the series can go to www.HPTreasures.com. This is an example of a:

Accepted Answer

A)  transformational marketing. 
B)  aggregated marketing. 
C)  online retailing. 
D)  e-commerce. 
E)  Internet wholesaling. 
A)  transformational marketing. 
B)  aggregated marketing. 
C)  online retailing. 
D)  e-commerce. 
E)  Internet wholesaling.

Question 12

Because consumers find the size of category killers intimidating, the stores are having no effect on well-established discount houses and department stores.

Accepted Answer

A) True 
 B)False

Question 13

Some retail analysts think retailers have overbuilt, and a "shakeout" is likely to occur.

Accepted Answer

A) True 
 B)False

Question 14

What advice would you give a friend who is interested in becoming a small retailer?

Accepted Answer

A)  The flexibility of operations is the biggest advantage a small retailer has over a larger one. 
B)  A large investment in production equipment is required to become a retailer. 
C)  Buy store space rather than rent it, so that you can control the store layout and fixtures. 
D)  Small retailers should develop their own brands to create a competitive advantage. 
E)  Competition is seldom a problem. 
A)  The flexibility of operations is the biggest advantage a small retailer has over a larger one. 
B)  A large investment in production equipment is required to become a retailer. 
C)  Buy store space rather than rent it, so that you can control the store layout and fixtures. 
D)  Small retailers should develop their own brands to create a competitive advantage. 
E)  Competition is seldom a problem.

Question 15

Which of the following describes one of the benefits of direct marketing?

Accepted Answer

A)  high fixed costs 
B)  low operating costs 
C)  elastic demand 
D)  guaranteed return on investment 
E)  long lead time 
A)  high fixed costs 
B)  low operating costs 
C)  elastic demand 
D)  guaranteed return on investment 
E)  long lead time

Question 16

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.
-Like most online retailers, Hammerschmidt's operation would be classified as a(n):

Accepted Answer

A)  limited-line store. 
B)  supermarket. 
C)  factory outlet. 
D)  Internet auction. 
E)  superstore. 
A)  limited-line store. 
B)  supermarket. 
C)  factory outlet. 
D)  Internet auction. 
E)  superstore.

Question 17

Which of the following statements about direct marketing is True?

Accepted Answer

A)  Direct marketing includes televised shopping. 
B)  Direct marketers contact customers through radio, television, magazines, catalogs, and direct mail. 
C)  Direct marketing includes infomercials. 
D)  Direct marketing provides consumers with shopping convenience. 
E)  All of the above statements about direct marketing are True. 
A)  Direct marketing includes televised shopping. 
B)  Direct marketers contact customers through radio, television, magazines, catalogs, and direct mail. 
C)  Direct marketing includes infomercials. 
D)  Direct marketing provides consumers with shopping convenience. 
E)  All of the above statements about direct marketing are True.

Question 18

To survive in retailing, a firm's primary job is to:

Accepted Answer

A)  use a large down payment to reduce monthly rental costs. 
B)  create a retailing concept that is totally new to the marketplace. 
C)  avoid buying merchandise on credit. 
D)  satisfy customers' needs. 
E)  buy the finest production equipment it can afford. 
A)  use a large down payment to reduce monthly rental costs. 
B)  create a retailing concept that is totally new to the marketplace. 
C)  avoid buying merchandise on credit. 
D)  satisfy customers' needs. 
E)  buy the finest production equipment it can afford.

Question 19

A voluntary chain is:

Accepted Answer

A)  a group of independent retailers who get together to form their own wholesale warehouse. 
B)  virtually identical to a corporate chain. 
C)  sponsored by a wholesaler. 
D)  not found in the grocery business. 
E)  an organization that provides more services than a retailer cooperative. 
A)  a group of independent retailers who get together to form their own wholesale warehouse. 
B)  virtually identical to a corporate chain. 
C)  sponsored by a wholesaler. 
D)  not found in the grocery business. 
E)  an organization that provides more services than a retailer cooperative.

Question 20

Vending machines create form, time, and place utility.

Accepted Answer

A) True 
 B)False

The two kinds of _ _ are door-to-door and party plan.

Compared to wholesalers, retailers:

Athletic club memberships, AKC-registered puppies, magazine subscriptions, and formal attire can all be readily sold through telemarketing.

The focus of product and trade name franchising is on:

If Kenneth wanted to go to one store to buy new underwear, the newest CD by LoneStar, a gallon of milk, a pound of salami, a loaf of bread, and a new bed pillow he would most likely find all these items at a:

Convenience stores compete with both supermarkets and fast-food restaurants.

Which of the following statements about regional centers is True?

A _____ has a narrow but very deep assortment, emphasizes low prices, and is designed to destroy all competition in a specific product category.

______ is a major factor in the success of corporate chains.

There are many Harry Potter fans. Ultimate consumers wishing to purchase replicas of props used in Harry Potter movies, wands, and collector chess sets based on the series can go to www.HPTreasures.com. This is an example of a:

Because consumers find the size of category killers intimidating, the stores are having no effect on well-established discount houses and department stores.

Some retail analysts think retailers have overbuilt, and a "shakeout" is likely to occur.

What advice would you give a friend who is interested in becoming a small retailer?

Which of the following describes one of the benefits of direct marketing?

Which of the following statements about direct marketing is True?

To survive in retailing, a firm's primary job is to:

A voluntary chain is:

Vending machines create form, time, and place utility.

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

Exam 15: Retailing

The two kinds of _____ _____ are door-to-door and party plan.

Compared to wholesalers, retailers:

Athletic club memberships, AKC-registered puppies, magazine subscriptions, and formal attire can all be readily sold through telemarketing.

The focus of product and trade name franchising is on:

If Kenneth wanted to go to one store to buy new underwear, the newest CD by LoneStar, a gallon of milk, a pound of salami, a loaf of bread, and a new bed pillow he would most likely find all these items at a:

Convenience stores compete with both supermarkets and fast-food restaurants.

Which of the following statements about regional centers is True?

A _____ has a narrow but very deep assortment, emphasizes low prices, and is designed to destroy all competition in a specific product category.

______ is a major factor in the success of corporate chains.

There are many Harry Potter fans. Ultimate consumers wishing to purchase replicas of props used in Harry Potter movies, wands, and collector chess sets based on the series can go to www.HPTreasures.com. This is an example of a:

Because consumers find the size of category killers intimidating, the stores are having no effect on well-established discount houses and department stores.

Some retail analysts think retailers have overbuilt, and a "shakeout" is likely to occur.

What advice would you give a friend who is interested in becoming a small retailer?

Which of the following describes one of the benefits of direct marketing?

Which of the following statements about direct marketing is True?

To survive in retailing, a firm's primary job is to:

A voluntary chain is:

Vending machines create form, time, and place utility.

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

The two kinds of _ _ are door-to-door and party plan.