Question 1

It is relatively easy to become a retailer.

Accepted Answer

A) True 
 B)False

Question 2

Many convenience stores are now offering much more than a limited number food and nonfood products. They have added quick-service eateries that specialize in one-handed foods such as burritos and hotdogs, coffee bars, and even Wi-Fi networking capabilities. These additions are part of which retailing trend described in you text?

Accepted Answer

A)  trading up 
B)  downsizing 
C)  repositioning 
D)  electronic commerce 
E)  retail shakeout 
A)  trading up 
B)  downsizing 
C)  repositioning 
D)  electronic commerce 
E)  retail shakeout

Question 3

Why are telemarketing sales increasing?

Accepted Answer

A)  the increasing popularity of cold canvassing among consumers 
B)  the availability of a competent sales force 
C)  the increasing popularity of scrambled merchandising 
D)  changing consumer demographics, which have made convenience less important 
E)  some consumers appreciate the convenience of making a purchase by phone 
A)  the increasing popularity of cold canvassing among consumers 
B)  the availability of a competent sales force 
C)  the increasing popularity of scrambled merchandising 
D)  changing consumer demographics, which have made convenience less important 
E)  some consumers appreciate the convenience of making a purchase by phone

Question 4

The major selling point of discount stores is:

Accepted Answer

A)  low price. 
B)  narrow target market. 
C)  product depth. 
D)  location. 
E)  advertising. 
A)  low price. 
B)  narrow target market. 
C)  product depth. 
D)  location. 
E)  advertising.

Question 5

Because of their prime locations and abundant customer services, department stores have considerably lower operating expenses than other retailers.

Accepted Answer

A) True 
 B)False

Question 6

Relatively high costs in retailing are generally related to the expense of dealing directly with ultimate consumers.

Accepted Answer

A) True 
 B)False

Question 7

The shopping center near Wendy's house has a Toys "R" Us, PETsMART and a Bed, Bath, and Beyond, all of which are large limited-line stores that stress value. There are also about ten smaller retailers. This shopping center would be classified as a(n) _____ center.

Accepted Answer

A)  power 
B)  super 
C)  MSA 
D)  community 
E)  convenience 
A)  power 
B)  super 
C)  MSA 
D)  community 
E)  convenience

Question 8

Specialty stores:

Accepted Answer

A)  are predicted to have increasing success over the next couple of decades. 
B)  sell only specialty products. 
C)  offer a very deep but shallow product assortment. 
D)  that sell apparel may experience loss of sales in traditional mall locations. 
E)  never offer any products at reduced prices. 
A)  are predicted to have increasing success over the next couple of decades. 
B)  sell only specialty products. 
C)  offer a very deep but shallow product assortment. 
D)  that sell apparel may experience loss of sales in traditional mall locations. 
E)  never offer any products at reduced prices.

Question 9

Compared to wholesale customers, ultimate consumers typically:

Accepted Answer

A)  expect higher rates of merchandise turnover. 
B)  buy larger quantities of merchandise. 
C)  do not want financing services. 
D)  demand more services. 
E)  require less from a sales person. 
A)  expect higher rates of merchandise turnover. 
B)  buy larger quantities of merchandise. 
C)  do not want financing services. 
D)  demand more services. 
E)  require less from a sales person.

Question 10

Which federal government agency monitors and regulates telemarketers?

Accepted Answer

A)  Federal Communications Commission 
B)  U.S. Department of Commerce 
C)  U.S. Justice Department 
D)  Federal Trade Commission 
E)  the Federal Watchdog Committee 
A)  Federal Communications Commission 
B)  U.S. Department of Commerce 
C)  U.S. Justice Department 
D)  Federal Trade Commission 
E)  the Federal Watchdog Committee

Question 11

Which of the following statements about online retailing is True?

Accepted Answer

A)  Not all bricks-and-mortar retailers have embraced online retailing. 
B)  Online retailing includes electronic transactions in which the purchaser is an ultimate consumer. 
C)  Firms that are engaging in online retailing at the present time are typically either not making a profit or making very little profit. 
D)  Customer service and order fulfillment are major challenges for online retailers. 
E)  All of the above statements about online retailing are True. 
A)  Not all bricks-and-mortar retailers have embraced online retailing. 
B)  Online retailing includes electronic transactions in which the purchaser is an ultimate consumer. 
C)  Firms that are engaging in online retailing at the present time are typically either not making a profit or making very little profit. 
D)  Customer service and order fulfillment are major challenges for online retailers. 
E)  All of the above statements about online retailing are True.

Question 12

Whatever products they may sell, one attribute online retailers are likely to share is:

Accepted Answer

A)  the absence of a profit. 
B)  the use of a bricks and mortar strategy as well as a clicks and modem strategy. 
C)  the use of a mass marketing strategy. 
D)  low distribution costs. 
E)  a broad and shallow product assortment. 
A)  the absence of a profit. 
B)  the use of a bricks and mortar strategy as well as a clicks and modem strategy. 
C)  the use of a mass marketing strategy. 
D)  low distribution costs. 
E)  a broad and shallow product assortment.

Question 13

A _____ _____ is a large-scale retailing institution that has a very broad and deep product assortment,  tries not to compete on the basis of price, and provides a wide array of customer services.

Accepted Answer

The answer of A _____ _____ is a large-scale retailing...

Question 14

_____ is defined as personal contact between a sales person and a consumer away from a store that results in a sale.

Accepted Answer

A)  Direct marketing 
B)  Direct selling 
C)  Automatic vending 
D)  Online retailing 
E)  Internet marketing 
A)  Direct marketing 
B)  Direct selling 
C)  Automatic vending 
D)  Online retailing 
E)  Internet marketing

Question 15

What is a significant competitive advantage large retail stores have over small ones?

Accepted Answer

A)  flexibility of operations 
B)  producers' brands 
C)  division of labor and specialization of management 
D)  ability to reflect the owner's personality 
E)  ability to provide top-quality personnel 
A)  flexibility of operations 
B)  producers' brands 
C)  division of labor and specialization of management 
D)  ability to reflect the owner's personality 
E)  ability to provide top-quality personnel

Question 16

A number of franchisees have criticized franchisors for:

Accepted Answer

A)  enticing them through unrealistic profit predictions. 
B)  not providing them with the promised level of service. 
C)  locating too many of the company's outlets in the same market. 
D)  unjustifiably terminating or not renewing a franchise agreement. 
E)  doing all of the above 
A)  enticing them through unrealistic profit predictions. 
B)  not providing them with the promised level of service. 
C)  locating too many of the company's outlets in the same market. 
D)  unjustifiably terminating or not renewing a franchise agreement. 
E)  doing all of the above

Question 17

Aunt Tuti's Herbal Shoppe sells herbs for cooking and for medicinal purposes. It also sells books on how to grow herbs, how to use herbs, and the history of herbs. Every Saturday morning, the store has classes for those who wish to learn more about herbs. Every item sold in the store is sold at nondiscounted prices. In which category of retail stores does Aunt Tuti's Herbal Shoppe belong?

Accepted Answer

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

Question 18

Which of the following statements about shopping centers is True?

Accepted Answer

A)  Each retailer in a shopping center owns his or her own store. 
B)  Shopping centers are typically not planned. 
C)  A convenience center is larger than a neighborhood center. 
D)  A community center is the smallest type of shopping center. 
E)  Shopping centers are classified according to market served, types of tenants, and size. 
A)  Each retailer in a shopping center owns his or her own store. 
B)  Shopping centers are typically not planned. 
C)  A convenience center is larger than a neighborhood center. 
D)  A community center is the smallest type of shopping center. 
E)  Shopping centers are classified according to market served, types of tenants, and size.

Question 19

Duluth Outdoors sells all types of rods and reels for the sport of fishing at or near manufacturer suggested retail prices. As a way to differentiate the store, its owner repairs and fine-tunes all brands of rods and reels. Duluth Outdoors is an example of a(n):

Accepted Answer

A)  warehouse club. 
B)  department store. 
C)  factory outlet. 
D)  specialty store. 
E)  convenience store. 
A)  warehouse club. 
B)  department store. 
C)  factory outlet. 
D)  specialty store. 
E)  convenience store.

Question 20

The two kinds of franchising can be distinguished according to:

Accepted Answer

A)  size of target markets. 
B)  what is sold and who owns the franchise. 
C)  what is sold and how the business is run. 
D)  where and how a product is sold. 
E)  location and size of the operation. 
A)  size of target markets. 
B)  what is sold and who owns the franchise. 
C)  what is sold and how the business is run. 
D)  where and how a product is sold. 
E)  location and size of the operation.

It is relatively easy to become a retailer.

Why are telemarketing sales increasing?

The major selling point of discount stores is:

Because of their prime locations and abundant customer services, department stores have considerably lower operating expenses than other retailers.

Relatively high costs in retailing are generally related to the expense of dealing directly with ultimate consumers.

The shopping center near Wendy's house has a Toys "R" Us, PETsMART and a Bed, Bath, and Beyond, all of which are large limited-line stores that stress value. There are also about ten smaller retailers. This shopping center would be classified as a(n) _____ center.

Specialty stores:

Compared to wholesale customers, ultimate consumers typically:

Which federal government agency monitors and regulates telemarketers?

Which of the following statements about online retailing is True?

Whatever products they may sell, one attribute online retailers are likely to share is:

A _ _ is a large-scale retailing institution that has a very broad and deep product assortment, tries not to compete on the basis of price, and provides a wide array of customer services.

_____ is defined as personal contact between a sales person and a consumer away from a store that results in a sale.

What is a significant competitive advantage large retail stores have over small ones?

A number of franchisees have criticized franchisors for:

Which of the following statements about shopping centers is True?

Duluth Outdoors sells all types of rods and reels for the sport of fishing at or near manufacturer suggested retail prices. As a way to differentiate the store, its owner repairs and fine-tunes all brands of rods and reels. Duluth Outdoors is an example of a(n):

The two kinds of franchising can be distinguished according to:

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

It is relatively easy to become a retailer.

Why are telemarketing sales increasing?

The major selling point of discount stores is:

Because of their prime locations and abundant customer services, department stores have considerably lower operating expenses than other retailers.

Relatively high costs in retailing are generally related to the expense of dealing directly with ultimate consumers.

The shopping center near Wendy's house has a Toys "R" Us, PETsMART and a Bed, Bath, and Beyond, all of which are large limited-line stores that stress value. There are also about ten smaller retailers. This shopping center would be classified as a(n) _____ center.

Specialty stores:

Compared to wholesale customers, ultimate consumers typically:

Which federal government agency monitors and regulates telemarketers?

Which of the following statements about online retailing is True?

Whatever products they may sell, one attribute online retailers are likely to share is:

A _____ _____ is a large-scale retailing institution that has a very broad and deep product assortment, tries not to compete on the basis of price, and provides a wide array of customer services.

_____ is defined as personal contact between a sales person and a consumer away from a store that results in a sale.

What is a significant competitive advantage large retail stores have over small ones?

A number of franchisees have criticized franchisors for:

Which of the following statements about shopping centers is True?

Duluth Outdoors sells all types of rods and reels for the sport of fishing at or near manufacturer suggested retail prices. As a way to differentiate the store, its owner repairs and fine-tunes all brands of rods and reels. Duluth Outdoors is an example of a(n):

The two kinds of franchising can be distinguished according to:

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

A _ _ is a large-scale retailing institution that has a very broad and deep product assortment, tries not to compete on the basis of price, and provides a wide array of customer services.