Question 1

Online retailing is defined as any form of Internet marketing.

Accepted Answer

A) True 
 B)False

Question 2

_____ consists of the sale, and all activities directly related to the sale, of goods and services to ultimate  consumers for personal, nonbusiness use.

Accepted Answer

The answer of _____ consists of the sale, and all...

Question 3

Traditional department stores:

Accepted Answer

A)  offer relatively few customer services. 
B)  have considerably lower operating costs than most other retailers. 
C)  typically compete on the basis of price. 
D)  offer a very broad and deep product assortment. 
E)  never carry furniture and appliances. 
A)  offer relatively few customer services. 
B)  have considerably lower operating costs than most other retailers. 
C)  typically compete on the basis of price. 
D)  offer a very broad and deep product assortment. 
E)  never carry furniture and appliances.

Question 4

In 1986, department stores accounted for more than 60 percent of the general merchandise sold in retail stores. Today, department stores sell less than 30 percent of this amount. One reason for this decline in sales is due to:

Accepted Answer

A)  the absence of customer service in many department stores. 
B)  poor locations. 
C)  wider availability of producers' brands. 
D)  more private brands. 
E)  the decrease in the number of catalog retailers. 
A)  the absence of customer service in many department stores. 
B)  poor locations. 
C)  wider availability of producers' brands. 
D)  more private brands. 
E)  the decrease in the number of catalog retailers.

Question 5

Bass Pro Shops carry everything a person who wants to fish could need at low prices. Their products include, tackle, lures, clothing, books, and rods. From this information, you should know Bass Pro Shops:

Accepted Answer

A)  use supermarket retailing. 
B)  were designed to "kill" small bait-and-tackle shops. 
C)  are a specialized type of factory outlet. 
D)  are most similar to department stores. 
E)  have a very broad product assortment. 
A)  use supermarket retailing. 
B)  were designed to "kill" small bait-and-tackle shops. 
C)  are a specialized type of factory outlet. 
D)  are most similar to department stores. 
E)  have a very broad product assortment.

Question 6

In terms of the category of products, specialty stores stock:

Accepted Answer

A)  only convenience goods. 
B)  both shopping goods and commodities. 
C)  only specialty good. 
D)  shopping, convenience, and unsought goods. 
E)  items for maintenance, repair, and operation. 
A)  only convenience goods. 
B)  both shopping goods and commodities. 
C)  only specialty good. 
D)  shopping, convenience, and unsought goods. 
E)  items for maintenance, repair, and operation.

Question 7

Which of the following is the best example of a vertical marketing system?

Accepted Answer

A)  corporate chain 
B)  regional shopping center 
C)  wholesaler-sponsored voluntary chain 
D)  retailers and wholesalers operating autonomously 
E)  all of the above 
A)  corporate chain 
B)  regional shopping center 
C)  wholesaler-sponsored voluntary chain 
D)  retailers and wholesalers operating autonomously 
E)  all of the above

Question 8

To understand how they serve both suppliers and customers, retailers are typically classified according to:

Accepted Answer

A)  size and location. 
B)  location and design. 
C)  dollar value of sales. 
D)  location, design, and layout. 
E)  form of ownership and marketing strategies. 
A)  size and location. 
B)  location and design. 
C)  dollar value of sales. 
D)  location, design, and layout. 
E)  form of ownership and marketing strategies.

Question 9

The focus of business format 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 10

Which of the following statements about supermarkets is True?

Accepted Answer

A)  Supermarkets typically produce substantial gross margins. 
B)  Supermarkets always use leaders as a part of their offensive pricing strategy. 
C)  Supermarkets need high levels of inventory turnover to achieve satisfactory returns on invested capital. 
D)  Given the recent changes in the retailing field, all supermarkets price defensively. 
E)  As a method, supermarket retailing refers to the marketing of groceries. 
A)  Supermarkets typically produce substantial gross margins. 
B)  Supermarkets always use leaders as a part of their offensive pricing strategy. 
C)  Supermarkets need high levels of inventory turnover to achieve satisfactory returns on invested capital. 
D)  Given the recent changes in the retailing field, all supermarkets price defensively. 
E)  As a method, supermarket retailing refers to the marketing of groceries.

Question 11

Which of the following is a form of merchandise that can readily be sold through telemarketing?

Accepted Answer

A)  kitchen cabinets 
B)  formal attire 
C)  antique reproductions 
D)  caskets 
E)  athletic club memberships 
A)  kitchen cabinets 
B)  formal attire 
C)  antique reproductions 
D)  caskets 
E)  athletic club memberships

Question 12

KarstadtQuelle, a German company, is the world's largest department store operator. The company has recently expanded into tourism and the mail-order business as profits from its traditional department stores has declined. Which of the following would help to explain why profits at KarstadtQuelle department stores are declining?

Accepted Answer

A)  The worldwide economy is in the prosperity cycle. 
B)  Department stores are in the growth stage of the product life cycle. 
C)  Operating costs at department stores are considerably higher than other types of retail operation. 
D)  Department stores do not carry middlemen's brands. 
E)  Other types of retailers with lower prices offer more services than department stores can. 
A)  The worldwide economy is in the prosperity cycle. 
B)  Department stores are in the growth stage of the product life cycle. 
C)  Operating costs at department stores are considerably higher than other types of retail operation. 
D)  Department stores do not carry middlemen's brands. 
E)  Other types of retailers with lower prices offer more services than department stores can.

Question 13

James Witt plans to open a retail store to sell fishing equipment. What can you tell him about his plan?

Accepted Answer

A)  He will not have a large investment in production material. 
B)  The merchandise he wants to sell can more than likely be purchased on credit. 
C)  Store space can be easily leased. 
D)  The probability of his survival as a retailer is low. 
E)  All of the above statements about Witt's plans are True. 
A)  He will not have a large investment in production material. 
B)  The merchandise he wants to sell can more than likely be purchased on credit. 
C)  Store space can be easily leased. 
D)  The probability of his survival as a retailer is low. 
E)  All of the above statements about Witt's plans are True.

Question 14

One type of off-price retailer, the _____, is owned by manufacturers and usually sells a single manufacturer's clearance items as well as its regular merchandise.

Accepted Answer

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

Question 15

Specialty stores:

Accepted Answer

A)  typically provide at least standard customer service. 
B)  have a very narrow and deep product assortment. 
C)  strive to maintain manufacturers' suggested price 
D)  depend on their ability to attract and then satisfy customers to survive. 
E)  are accurately described by all of the above. 
A)  typically provide at least standard customer service. 
B)  have a very narrow and deep product assortment. 
C)  strive to maintain manufacturers' suggested price 
D)  depend on their ability to attract and then satisfy customers to survive. 
E)  are accurately described by all of the above.

Question 16

Retailing includes the sales, and all activities directly related to the sale of:

Accepted Answer

A)  tangibles and intangibles to businesses. 
B)  goods and services to ultimate consumers for personal, nonbusiness use. 
C)  consumer goods and services to businesses. 
D)  goods and services to institutions and governments. 
E)  all of the above. 
A)  tangibles and intangibles to businesses. 
B)  goods and services to ultimate consumers for personal, nonbusiness use. 
C)  consumer goods and services to businesses. 
D)  goods and services to institutions and governments. 
E)  all of the above.

Question 17

The main difference between retailer cooperatives and voluntary chains is:

Accepted Answer

A)  their offensive versus defensive posture. 
B)  the length of the distribution channel. 
C)  the type of promotion used. 
D)  who organizes them. 
E)  the pricing strategy. 
A)  their offensive versus defensive posture. 
B)  the length of the distribution channel. 
C)  the type of promotion used. 
D)  who organizes them. 
E)  the pricing strategy.

Question 18

A warehouse club carries about the same breadth of product assortment as a large ____ but in much less depth.

Accepted Answer

A)  off-price retailer 
B)  limited-line retailer 
C)  category-killer store 
D)  factory outlet 
E)  discount store 
A)  off-price retailer 
B)  limited-line retailer 
C)  category-killer store 
D)  factory outlet 
E)  discount store

Question 19

Murder on Demand bookstore carries some 15,000 mystery books in stock, sells no discounted books, and offers a location-service for out-of-print books. From this description, Murder on Demand would be classified as a specialty store.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following statements about direct selling is True?

Accepted Answer

A)  Direct selling is found in no country outside the U.S. 
B)  Direct salespeople typically earn low commissions on their sales. 
C)  The two kinds of direct selling are door-to-door and party plan. 
D)  Recruiting, training and motivating people for direct selling is a relatively easy process. 
E)  "Cooling off" laws affect full-time salespeople, but not part-time direct salespeople. 
A)  Direct selling is found in no country outside the U.S. 
B)  Direct salespeople typically earn low commissions on their sales. 
C)  The two kinds of direct selling are door-to-door and party plan. 
D)  Recruiting, training and motivating people for direct selling is a relatively easy process. 
E)  "Cooling off" laws affect full-time salespeople, but not part-time direct salespeople.

Exam 15: Retailing

Online retailing is defined as any form of Internet marketing.

_____ consists of the sale, and all activities directly related to the sale, of goods and services to ultimate consumers for personal, nonbusiness use.

Traditional department stores:

In 1986, department stores accounted for more than 60 percent of the general merchandise sold in retail stores. Today, department stores sell less than 30 percent of this amount. One reason for this decline in sales is due to:

Bass Pro Shops carry everything a person who wants to fish could need at low prices. Their products include, tackle, lures, clothing, books, and rods. From this information, you should know Bass Pro Shops:

In terms of the category of products, specialty stores stock:

Which of the following is the best example of a vertical marketing system?

To understand how they serve both suppliers and customers, retailers are typically classified according to:

The focus of business format franchising is on:

Which of the following statements about supermarkets is True?

Which of the following is a form of merchandise that can readily be sold through telemarketing?

James Witt plans to open a retail store to sell fishing equipment. What can you tell him about his plan?

One type of off-price retailer, the _____, is owned by manufacturers and usually sells a single manufacturer's clearance items as well as its regular merchandise.

Specialty stores:

Retailing includes the sales, and all activities directly related to the sale of:

The main difference between retailer cooperatives and voluntary chains is:

A warehouse club carries about the same breadth of product assortment as a large ____ but in much less depth.

Murder on Demand bookstore carries some 15,000 mystery books in stock, sells no discounted books, and offers a location-service for out-of-print books. From this description, Murder on Demand would be classified as a specialty store.

Which of the following statements about direct selling is True?

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