Question 1

Which of the following is NOT an example of a retail activity?

Accepted Answer

A)  A secretary orders airline tickets for her summer vacation. 
B)  A shoe store owner buys his wife a pair of sandals. 
C)  A contractor orders a skylight kit for a house she is contracted to build for a client. 
D)  A bookstore sells paperbacks to students at a book fair. 
E)  A member of the U.S. Olympic table tennis team buys himself an Olympic pin from a street vendor. 
A)  A secretary orders airline tickets for her summer vacation. 
B)  A shoe store owner buys his wife a pair of sandals. 
C)  A contractor orders a skylight kit for a house she is contracted to build for a client. 
D)  A bookstore sells paperbacks to students at a book fair. 
E)  A member of the U.S. Olympic table tennis team buys himself an Olympic pin from a street vendor.

Question 2

Which of the following statements about online retailing is True?

Accepted Answer

A)  The term online retailing is synonymous with Internet marketing. 
B)  Online retailers are finding electronic transactions can be very profitable. 
C)  Online retailers are finding it easy and inexpensive to gain market share. 
D)  Most online retailers concentrate on one or two product categories. 
E)  All of the above statements about online retailing are True. 
A)  The term online retailing is synonymous with Internet marketing. 
B)  Online retailers are finding electronic transactions can be very profitable. 
C)  Online retailers are finding it easy and inexpensive to gain market share. 
D)  Most online retailers concentrate on one or two product categories. 
E)  All of the above statements about online retailing are True.

Question 3

What has happened to televised shopping in recent years?

Accepted Answer

A)  It has burgeoned due to the growth of cable and satellite television. 
B)  It has slowed down in recent years due to the development of web sites by QVC and the Home Shopping Network. 
C)  It has found it cannot compete profitably with department stores. 
D)  It has grown due to an increase in the number of retirees, its primary target market. 
E)  It has stopped selling high margin items like jewelry and consumer electronics. 
A)  It has burgeoned due to the growth of cable and satellite television. 
B)  It has slowed down in recent years due to the development of web sites by QVC and the Home Shopping Network. 
C)  It has found it cannot compete profitably with department stores. 
D)  It has grown due to an increase in the number of retirees, its primary target market. 
E)  It has stopped selling high margin items like jewelry and consumer electronics.

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.
-Which of the following advantages will Hammerschmidt and Sevier have as small independent retailers?

Accepted Answer

A)  access to a vertical marketing system 
B)  flexibility of operations 
C)  economies of scale 
D)  various forms of management assistance 
E)  all of the above 
A)  access to a vertical marketing system 
B)  flexibility of operations 
C)  economies of scale 
D)  various forms of management assistance 
E)  all of the above

Question 5

A woman selling apples to tourists from the back of her pickup truck is engaged in retailing.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following statements about telemarketing is True?

Accepted Answer

A)  There are no state or federal regulations governing telemarketing operations. 
B)  Telemarketers never use cold canvassing. 
C)  Turnover for telemarketers is extremely high. 
D)  Telemarketers are best suited to sell tangible products like clothing. 
E)  The popularity of telemarketing with sellers has declined dramatically during the past decade. 
A)  There are no state or federal regulations governing telemarketing operations. 
B)  Telemarketers never use cold canvassing. 
C)  Turnover for telemarketers is extremely high. 
D)  Telemarketers are best suited to sell tangible products like clothing. 
E)  The popularity of telemarketing with sellers has declined dramatically during the past decade.

Question 7

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.
-Hammerschmidt will likely experience _____ as a result of his nonstore retailing activities.

Accepted Answer

A)  high profits due to low storage costs 
B)  high profit margins due to his ability to engage in electronic transactions 
C)  low profits due to a need for aggressive advertising 
D)  low contribution margins due to low distribution costs 
E)  high profit margins due to the ease with which he can implement a secure e-commerce site 
A)  high profits due to low storage costs 
B)  high profit margins due to his ability to engage in electronic transactions 
C)  low profits due to a need for aggressive advertising 
D)  low contribution margins due to low distribution costs 
E)  high profit margins due to the ease with which he can implement a secure e-commerce site

Question 8

Todd and Ebrel Bloor were invited to a party. At the party, they were shown how easy it is to cook delicious food with West Bend cookware. After the demonstration, they were asked if they would like to buy either a set or individual pieces of the cookware. This is an example of:

Accepted Answer

A)  in-store retailing. 
B)  catalog retailing. 
C)  direct selling. 
D)  automatic vending. 
E)  off-price retailing. 
A)  in-store retailing. 
B)  catalog retailing. 
C)  direct selling. 
D)  automatic vending. 
E)  off-price retailing.

Question 9

_____ are characterized by comparatively low prices and reduced costs of doing business.

Accepted Answer

A)  Department stores 
B)  Discount retailers 
C)  Independent retailers 
D)  Specialty stores 
E)  Convenience stores 
A)  Department stores 
B)  Discount retailers 
C)  Independent retailers 
D)  Specialty stores 
E)  Convenience stores

Question 10

Rufina is opening a store for people who like to cook ethnic cuisines. In terms of the physical aspects of her store, Rufina must decide:

Accepted Answer

A)  whether to use a green and blue color combination or the more lively red and yellow colors in her store. 
B)  whether she wants the store in a downtown area or a shopping center. 
C)  how much shelf space she will devote to fresh herbs. 
D)  where she will locate her kitchen demonstration area. 
E)  all of the above. 
A)  whether to use a green and blue color combination or the more lively red and yellow colors in her store. 
B)  whether she wants the store in a downtown area or a shopping center. 
C)  how much shelf space she will devote to fresh herbs. 
D)  where she will locate her kitchen demonstration area. 
E)  all of the above.

Question 11

A retailer cooperative is:

Accepted Answer

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

Question 12

Discount stores typically:

Accepted Answer

A)  advertise extensively. 
B)  provide customers with relatively few services. 
C)  offer a broad, shallow product assortment. 
D)  carry both hard and soft goods. 
E)  do all of the above. 
A)  advertise extensively. 
B)  provide customers with relatively few services. 
C)  offer a broad, shallow product assortment. 
D)  carry both hard and soft goods. 
E)  do all of the above.

Question 13

Ronald went to the Dell Computer Web site and purchased a new computer for his son to play games and e-mail his friends. Dell Computers used _____ to this ultimate consumer to sell its products.

Accepted Answer

A)  Internet marketing 
B)  bricks-and-mortar retailing 
C)  online retailing 
D)  automatic vending 
E)  all of the above 
A)  Internet marketing 
B)  bricks-and-mortar retailing 
C)  online retailing 
D)  automatic vending 
E)  all of the above

Question 14

In order to compete more effectively with large corporate chains, small independent retailers may join a chain organization sponsored by a wholesaler. This organization is called a(n):

Accepted Answer

A)  retailer cooperative. 
B)  voluntary chain. 
C)  business-format franchise. 
D)  independent chain. 
E)  consumer cooperative. 
A)  retailer cooperative. 
B)  voluntary chain. 
C)  business-format franchise. 
D)  independent chain. 
E)  consumer cooperative.

Question 15

The tenant mix for a _____ center includes several large, limited-line stores like PETsMART.

Accepted Answer

The answer of The tenant mix for a _____ center...

Question 16

When Rebecca goes to Target to buy maternity and baby clothes, she is buying:

Accepted Answer

A)  commodities. 
B)  representative brands. 
C)  soft goods. 
D)  generic brands. 
E)  hard goods. 
A)  commodities. 
B)  representative brands. 
C)  soft goods. 
D)  generic brands. 
E)  hard goods.

Question 17

Convenience stores are becoming increasingly competitive with:

Accepted Answer

A)  warehouse clubs and factory outlets. 
B)  supermarkets and fast-food restaurants. 
C)  category-killer stores. 
D)  specialty stores and warehouse clubs. 
E)  limited-line stores and discount stores. 
A)  warehouse clubs and factory outlets. 
B)  supermarkets and fast-food restaurants. 
C)  category-killer stores. 
D)  specialty stores and warehouse clubs. 
E)  limited-line stores and discount stores.

Question 18

The Topper Store contains nothing but hats and caps of all shapes and descriptions. The Topper Store is an example of a ______ _____.

Accepted Answer

specialty

Question 19

As a retailing method, supermarket retailing:

Accepted Answer

A)  features several related product lines. 
B)  requires a high degree of self-service. 
C)  has largely centralized checkouts. 
D)  uses competitive pricing. 
E)  is accurately described by all of the above. 
A)  features several related product lines. 
B)  requires a high degree of self-service. 
C)  has largely centralized checkouts. 
D)  uses competitive pricing. 
E)  is accurately described by all of the above.

Question 20

As a prospective owner of a used book store, Lawson's first decision about facilities should be:

Accepted Answer

A)  where he will get the financing for the operation. 
B)  how big an operation he will open. 
C)  where he will locate his store. 
D)  how the store will be laid out. 
E)  what kind of atmosphere the store will have. 
A)  where he will get the financing for the operation. 
B)  how big an operation he will open. 
C)  where he will locate his store. 
D)  how the store will be laid out. 
E)  what kind of atmosphere the store will have.

Which of the following is NOT an example of a retail activity?

Which of the following statements about online retailing is True?

What has happened to televised shopping in recent years?

A woman selling apples to tourists from the back of her pickup truck is engaged in retailing.

Which of the following statements about telemarketing is True?

Todd and Ebrel Bloor were invited to a party. At the party, they were shown how easy it is to cook delicious food with West Bend cookware. After the demonstration, they were asked if they would like to buy either a set or individual pieces of the cookware. This is an example of:

_____ are characterized by comparatively low prices and reduced costs of doing business.

Rufina is opening a store for people who like to cook ethnic cuisines. In terms of the physical aspects of her store, Rufina must decide:

A retailer cooperative is:

Discount stores typically:

Ronald went to the Dell Computer Web site and purchased a new computer for his son to play games and e-mail his friends. Dell Computers used _____ to this ultimate consumer to sell its products.

In order to compete more effectively with large corporate chains, small independent retailers may join a chain organization sponsored by a wholesaler. This organization is called a(n):

The tenant mix for a _____ center includes several large, limited-line stores like PETsMART.

When Rebecca goes to Target to buy maternity and baby clothes, she is buying:

Convenience stores are becoming increasingly competitive with:

The Topper Store contains nothing but hats and caps of all shapes and descriptions. The Topper Store is an example of a __ _.

As a retailing method, supermarket retailing:

As a prospective owner of a used book store, Lawson's first decision about facilities should be:

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

Which of the following is NOT an example of a retail activity?

Which of the following statements about online retailing is True?

What has happened to televised shopping in recent years?

A woman selling apples to tourists from the back of her pickup truck is engaged in retailing.

Which of the following statements about telemarketing is True?

Todd and Ebrel Bloor were invited to a party. At the party, they were shown how easy it is to cook delicious food with West Bend cookware. After the demonstration, they were asked if they would like to buy either a set or individual pieces of the cookware. This is an example of:

_____ are characterized by comparatively low prices and reduced costs of doing business.

Rufina is opening a store for people who like to cook ethnic cuisines. In terms of the physical aspects of her store, Rufina must decide:

A retailer cooperative is:

Discount stores typically:

Ronald went to the Dell Computer Web site and purchased a new computer for his son to play games and e-mail his friends. Dell Computers used _____ to this ultimate consumer to sell its products.

In order to compete more effectively with large corporate chains, small independent retailers may join a chain organization sponsored by a wholesaler. This organization is called a(n):

The tenant mix for a _____ center includes several large, limited-line stores like PETsMART.

When Rebecca goes to Target to buy maternity and baby clothes, she is buying:

Convenience stores are becoming increasingly competitive with:

The Topper Store contains nothing but hats and caps of all shapes and descriptions. The Topper Store is an example of a ______ _____.

As a retailing method, supermarket retailing:

As a prospective owner of a used book store, Lawson's first decision about facilities should be:

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 Topper Store contains nothing but hats and caps of all shapes and descriptions. The Topper Store is an example of a __ _.