Question 1

The marketing metrics related to a retailer's customers include all of the following except which?

Accepted Answer

A) the number of customers per day or per hour 
B) the average length of a store visit 
C) the turnover of inventory 
D) the average transaction size per customer 
E) the number of transactions per customer 
A) the number of customers per day or per hour 
B) the average length of a store visit 
C) the turnover of inventory 
D) the average transaction size per customer 
E) the number of transactions per customer

Question 2

Which form of retail outlet would most likely offer customers convenience,quality personal service,and lifestyle compatibility?

Accepted Answer

A) corporate chain 
B) independent retailer 
C) administered system 
D) contractual system 
E) sole incorporation 
A) corporate chain 
B) independent retailer 
C) administered system 
D) contractual system 
E) sole incorporation

Question 3

A franchise where the franchisor provides step-by-step procedures for most aspects of the business is known as a

Accepted Answer

A) business-format franchise. 
B) product-distribution franchise. 
C) nonprofit franchise. 
D) manufacturing franchise. 
E) general service franchise. 
A) business-format franchise. 
B) product-distribution franchise. 
C) nonprofit franchise. 
D) manufacturing franchise. 
E) general service franchise.

Question 4

Cash and carry wholesalers

Accepted Answer

A) furnish the racks or shelves that display merchandise in retail stores,perform all channel functions,and sell on consignment to retailers. 
B) take title to merchandise but sell only to buyers that call on them,pay cash for merchandise,and furnish their own transportation for merchandise. 
C) own the merchandise they sell but do not physically handle,stock,or deliver it. 
D) have a small warehouse from which they stock their trucks for distribution to retailers. 
E) work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory. 
A) furnish the racks or shelves that display merchandise in retail stores,perform all channel functions,and sell on consignment to retailers. 
B) take title to merchandise but sell only to buyers that call on them,pay cash for merchandise,and furnish their own transportation for merchandise. 
C) own the merchandise they sell but do not physically handle,stock,or deliver it. 
D) have a small warehouse from which they stock their trucks for distribution to retailers. 
E) work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory.

Question 5

Both market share and profit achieve their greatest growth rates during which stage of the retail life cycle?

Accepted Answer

A) decline 
B) maturity 
C) introduction 
D) early growth 
E) accelerated development 
A) decline 
B) maturity 
C) introduction 
D) early growth 
E) accelerated development

Question 6

Redbox has 40,000 kiosks throughout the United States for movie and video game rental and it operates without a single clerk.What level of service does this retailer offer?

Accepted Answer

A) full-service 
B) self-service 
C) limited-service 
D) customized-service 
E) functional-service 
A) full-service 
B) self-service 
C) limited-service 
D) customized-service 
E) functional-service

Question 7

Cash and carry wholesalers

Accepted Answer

A) handle bulky items such as lumber,bricks,and telephone poles. 
B) handle perishable items such as flowers,baked goods,and deli meats. 
C) handle office supplies,electrical supplies,hardware products,and groceries. 
D) are a kind of full-service wholesaler. 
E) lease vending machines to merchants and refill them as needed on a cash only basis. 
A) handle bulky items such as lumber,bricks,and telephone poles. 
B) handle perishable items such as flowers,baked goods,and deli meats. 
C) handle office supplies,electrical supplies,hardware products,and groceries. 
D) are a kind of full-service wholesaler. 
E) lease vending machines to merchants and refill them as needed on a cash only basis.

Question 8

Another name for a manufacturer's agent is a

Accepted Answer

A) manufacturer's desk jobber. 
B) manufacturer's transport vendor. 
C) manufacturer's representative. 
D) manufacturer's wholesaler. 
E) manufacturer's rack jobber. 
A) manufacturer's desk jobber. 
B) manufacturer's transport vendor. 
C) manufacturer's representative. 
D) manufacturer's wholesaler. 
E) manufacturer's rack jobber.

Question 9

Briefly describe the two general types of franchises.

Accepted Answer

Franchises can be classified in two gene

Question 10

Independently owned stores that band together to act like a chain are referred to as

Accepted Answer

A) corporate chains. 
B) cooperative marketing systems. 
C) contractual systems. 
D) regional shopping centers. 
E) self-service systems. 
A) corporate chains. 
B) cooperative marketing systems. 
C) contractual systems. 
D) regional shopping centers. 
E) self-service systems.

Question 11

The music played in the grocery store has a slow tempo to get shoppers to stay longer and hopefully put more items in their cart.Music is part of the grocery store's

Accepted Answer

A) atmosphere. 
B) sensory management plan. 
C) psychological attributes. 
D) personality type. 
E) sociological profile. 
A) atmosphere. 
B) sensory management plan. 
C) psychological attributes. 
D) personality type. 
E) sociological profile.

Question 12

A community shopping center is a

Accepted Answer

A) suburban mall containing up to 100 stores that draws customer from a 5- to 10-mile radius. 
B) cluster of stores in a downtown area. 
C) cluster of stores that serves people who are within a 5- to 10-minute drive. 
D) collection of category killers usually located outside a major amusement park or attraction. 
E) retail location that typically has one primary store (usually a department store branch)with 20 to 40 smaller outlets serving a population of consumers who are within a 10- to 20-minute drive. 
A) suburban mall containing up to 100 stores that draws customer from a 5- to 10-mile radius. 
B) cluster of stores in a downtown area. 
C) cluster of stores that serves people who are within a 5- to 10-minute drive. 
D) collection of category killers usually located outside a major amusement park or attraction. 
E) retail location that typically has one primary store (usually a department store branch)with 20 to 40 smaller outlets serving a population of consumers who are within a 10- to 20-minute drive.

Question 13

Explain the dimensions of the retail positioning matrix,and give an example of a store that would be located in each quadrant of the matrix.

Accepted Answer

The retail positioning matrix is a matri

Question 14

During which stage of the retail life cycle do companies establish multiple outlets?

Accepted Answer

A) decline 
B) maturity 
C) accelerated development 
D) introduction 
E) early growth 
A) decline 
B) maturity 
C) accelerated development 
D) introduction 
E) early growth

Question 15

Intermediaries that work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory are referred to as

Accepted Answer

A) selling agents. 
B) line brokers. 
C) distribution brokers. 
D) manufacturers' agents. 
E) brokers. 
A) selling agents. 
B) line brokers. 
C) distribution brokers. 
D) manufacturers' agents. 
E) brokers.

Question 16

In initially competing with established burger chains,outlets such as Checkers Drive-In Restaurants typically enter the wheel of retailing with

Accepted Answer

A) limited menus and limited service. 
B) extensive menus and expansive service. 
C) extensive menus and self-service. 
D) high prices and novel menu items. 
E) high prices and expansive service. 
A) limited menus and limited service. 
B) extensive menus and expansive service. 
C) extensive menus and self-service. 
D) high prices and novel menu items. 
E) high prices and expansive service.

Question 17

Which of the following statements best describes the key difference between merchant wholesalers and agents and brokers?

Accepted Answer

A) Merchant wholesalers don't perform all channel functions,whereas agents and brokers do. 
B) Agents and brokers only deal with consumer channels. 
C) Agents and brokers make their profits based on the sales of merchandise they own,while merchant wholesalers make profits based on fees paid for their services. 
D) Merchant wholesalers take title to merchandise,whereas agents and brokers do not. 
E) Agents and brokers take title to merchandise,whereas merchant wholesalers do not. 
A) Merchant wholesalers don't perform all channel functions,whereas agents and brokers do. 
B) Agents and brokers only deal with consumer channels. 
C) Agents and brokers make their profits based on the sales of merchandise they own,while merchant wholesalers make profits based on fees paid for their services. 
D) Merchant wholesalers take title to merchandise,whereas agents and brokers do not. 
E) Agents and brokers take title to merchandise,whereas merchant wholesalers do not.

Question 18

Describe several of the technical solutions that power today's "smart store."

Accepted Answer

Smart stores use a variety of technical

Question 19

Which of the following firms has made the wisest wholesaler choice for its product?

Accepted Answer

A) Sam's Coal Country uses a drop shipper for its coal. 
B) Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs. 
C) Hannah's Hardware uses a rack jobber for its hinges. 
D) Shayna's Superior Supplies uses a desk jobber for its staplers. 
E) Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights. 
A) Sam's Coal Country uses a drop shipper for its coal. 
B) Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs. 
C) Hannah's Hardware uses a rack jobber for its hinges. 
D) Shayna's Superior Supplies uses a desk jobber for its staplers. 
E) Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights.

Question 20

Of these categories,the smallest dollar amount of retail sales in the United States is generated by

Accepted Answer

A) motor vehicle and parts dealers. 
B) food and beverage stores. 
C) sporting goods,hobby,book,and music stores. 
D) gasoline stations. 
E) building material and garden stores. 
A) motor vehicle and parts dealers. 
B) food and beverage stores. 
C) sporting goods,hobby,book,and music stores. 
D) gasoline stations. 
E) building material and garden stores.

Exam 16: Retailing and Wholesaling

The marketing metrics related to a retailer's customers include all of the following except which?

Which form of retail outlet would most likely offer customers convenience,quality personal service,and lifestyle compatibility?

A franchise where the franchisor provides step-by-step procedures for most aspects of the business is known as a

Cash and carry wholesalers

Both market share and profit achieve their greatest growth rates during which stage of the retail life cycle?

Redbox has 40,000 kiosks throughout the United States for movie and video game rental and it operates without a single clerk.What level of service does this retailer offer?

Cash and carry wholesalers

Another name for a manufacturer's agent is a

Briefly describe the two general types of franchises.

Independently owned stores that band together to act like a chain are referred to as

The music played in the grocery store has a slow tempo to get shoppers to stay longer and hopefully put more items in their cart.Music is part of the grocery store's

A community shopping center is a

Explain the dimensions of the retail positioning matrix,and give an example of a store that would be located in each quadrant of the matrix.

During which stage of the retail life cycle do companies establish multiple outlets?

Intermediaries that work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory are referred to as

In initially competing with established burger chains,outlets such as Checkers Drive-In Restaurants typically enter the wheel of retailing with

Which of the following statements best describes the key difference between merchant wholesalers and agents and brokers?

Describe several of the technical solutions that power today's "smart store."

Which of the following firms has made the wisest wholesaler choice for its product?

Of these categories,the smallest dollar amount of retail sales in the United States is generated by

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, targeting, and Positioning

Developing New Products and Services

Managing Successful Products, services, and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Integrated Marketing Communications and Direct Marketing

Advertising,sales Promotion,and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Writing Successful Marketing and Business Plans: Tips and Guidelines

Financial Statements and Ratios

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