Question 1

A hypermarket is

Accepted Answer

A) a category killer that specializes in electronics. 
B) a form of intertype competition consisting of general merchandise stores. 
C) a shopping mall anchored by four or more department stores such as Sears or Nordstrom. 
D) a form of limited-service outlets focusing on general merchandise like that offered in department stores. 
E) a form of scrambled merchandising,consisting of large stores offering everything in a single outlet,eliminating the need to shop at more than one location. 
A) a category killer that specializes in electronics. 
B) a form of intertype competition consisting of general merchandise stores. 
C) a shopping mall anchored by four or more department stores such as Sears or Nordstrom. 
D) a form of limited-service outlets focusing on general merchandise like that offered in department stores. 
E) a form of scrambled merchandising,consisting of large stores offering everything in a single outlet,eliminating the need to shop at more than one location.

Question 2

Explain the difference between breadth of line and depth of line.Be sure to include the definition of scrambled merchandising in your explanation.

Accepted Answer

Breadth of line means the store carries

Question 3

Figure 16-9
  
-Figure 16-9 above shows the wheel of retailing,which indicates that retail outlets typically go through changes with the passage of time,starting at Box A.What characteristics in the wheel of retailing does B represent?

Accepted Answer

A) low breadth of product,high depth of product,and high status. 
B) higher prices,higher margins,and higher status. 
C) low breadth of product,low depth of product,and low status. 
D) moderate prices,low margins,and high status. 
E) high depth of product,low margins,and mixed status. 
A) low breadth of product,high depth of product,and high status. 
B) higher prices,higher margins,and higher status. 
C) low breadth of product,low depth of product,and low status. 
D) moderate prices,low margins,and high status. 
E) high depth of product,low margins,and mixed status.

Question 4

Staples is a specialty discount retailer that focuses on one type of product-office supplies.Staples is an example of a

Accepted Answer

A) hypermarket. 
B) superstore. 
C) category killer. 
D) department store. 
E) focused merchandise stores. 
A) hypermarket. 
B) superstore. 
C) category killer. 
D) department store. 
E) focused merchandise stores.

Question 5

All of the following retailers provide self-service to their customers except which?

Accepted Answer

A) Zipcar 
B) Southwest Airlines 
C) Target 
D) Redbox 
E) Costco 
A) Zipcar 
B) Southwest Airlines 
C) Target 
D) Redbox 
E) Costco

Question 6

A limited-service wholesaler that furnishes shelves that display merchandise in stores,performs all channel functions,and sells on consignment to retailers is referred to as a

Accepted Answer

A) stack loader. 
B) rack jobber. 
C) drop shipper. 
D) desk jobber. 
E) truck jobber. 
A) stack loader. 
B) rack jobber. 
C) drop shipper. 
D) desk jobber. 
E) truck jobber.

Question 7

One of the most common forms of retail ownership is the ________ owned by an individual.

Accepted Answer

A) corporate chain 
B) consumer cooperative. 
C) contractual system 
D) independent retailer 
E) administered systems 
A) corporate chain 
B) consumer cooperative. 
C) contractual system 
D) independent retailer 
E) administered systems

Question 8

Retailing includes all activities involved in the

Accepted Answer

A) selling,renting,and providing of products and services to ultimate consumers for personal,family,or household use. 
B) selling of tangible products to ultimate consumers for personal,family,or household use. 
C) selling of tangible products to ultimate consumers for personal,household,or industrial use. 
D) selling,renting,leasing,or reselling of products and services to ultimate consumers or small industrial users. 
E) selling,renting,and providing of products and services without retaining the title to these offerings. 
A) selling,renting,and providing of products and services to ultimate consumers for personal,family,or household use. 
B) selling of tangible products to ultimate consumers for personal,family,or household use. 
C) selling of tangible products to ultimate consumers for personal,household,or industrial use. 
D) selling,renting,leasing,or reselling of products and services to ultimate consumers or small industrial users. 
E) selling,renting,and providing of products and services without retaining the title to these offerings.

Question 9

Mike's Camera is a retailer that carries a full line of professional and amateur cameras,develops and/or prints all types of film and digital photos,and even sells darkroom equipment.Mike's Camera is an example of a(n)

Accepted Answer

A)  hypermarket. 
B)  general merchandise store. 
C)  scrambled merchandise store. 
D)  intertype outlet. 
E)  specialty outlet. 
A)  hypermarket. 
B)  general merchandise store. 
C)  scrambled merchandise store. 
D)  intertype outlet. 
E)  specialty outlet.

Question 10

Off-price stores that attract customers who want value and appeal to customers who like a "corner store" environment rather than a large supercenter experience are referred to as

Accepted Answer

A) extreme-value retailers. 
B) hypermarkets. 
C) warehouse clubs. 
D) outlet stores. 
E) everyday value retailers. 
A) extreme-value retailers. 
B) hypermarkets. 
C) warehouse clubs. 
D) outlet stores. 
E) everyday value retailers.

Question 11

Timing is an important element of markdowns.Those retailers who take a markdown as soon as sales fall off most likely are doing so to

Accepted Answer

A) placate dissatisfied customers. 
B) enhance customer perceptions of product quality. 
C) free up valuable selling space and cash. 
D) create an image as a cutting-edge retailer. 
E) react to the entry of a new competitor. 
A) placate dissatisfied customers. 
B) enhance customer perceptions of product quality. 
C) free up valuable selling space and cash. 
D) create an image as a cutting-edge retailer. 
E) react to the entry of a new competitor.

Question 12

Consumers benefit in dealing with retail corporate chains because

Accepted Answer

A) corporate chains have more experience than other forms of retailers. 
B) consumers can own stock in the same company where they shop since corporate chain stock must be publicly traded. 
C) chains can bargain with a manufacturer to obtain product volume discounts on orders,which can be passed on to consumers in terms of lower prices. 
D) there are multiple outlets,each with its own varied merchandise and different management policies. 
E) merchandise is arranged and displayed by professional designers making their shopping experience less stressful. 
A) corporate chains have more experience than other forms of retailers. 
B) consumers can own stock in the same company where they shop since corporate chain stock must be publicly traded. 
C) chains can bargain with a manufacturer to obtain product volume discounts on orders,which can be passed on to consumers in terms of lower prices. 
D) there are multiple outlets,each with its own varied merchandise and different management policies. 
E) merchandise is arranged and displayed by professional designers making their shopping experience less stressful.

Question 13

Selling agents are agents that

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) represent a single producer and are responsible for the entire marketing function of that producer. 
C) work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory. 
D) take title to merchandise but sell only to buyers that call on them,pay cash for merchandise,and furnish their own transportation for the merchandise. 
E) sell primarily large bulky products. 
A) furnish the racks or shelves that display merchandise in retail stores,perform all channel functions,and sell on consignment to retailers. 
B) represent a single producer and are responsible for the entire marketing function of that producer. 
C) work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory. 
D) take title to merchandise but sell only to buyers that call on them,pay cash for merchandise,and furnish their own transportation for the merchandise. 
E) sell primarily large bulky products.

Question 14

McDonald's,7-Eleven,and Anytime Fitness are examples of

Accepted Answer

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

Question 15

Some experts suggest that television shopping programs are becoming a modern version of ________ by combining elements of reality TV programs,talk shows,and infomercials.

Accepted Answer

A) augmented reality 
B) door-to-door retailing 
C) telemarketing 
D) direct-response wholesaling 
E) indirect selling 
A) augmented reality 
B) door-to-door retailing 
C) telemarketing 
D) direct-response wholesaling 
E) indirect selling

Question 16

Figure 16-10
  
-According to Figure 16-10 above,B represents which stage of the retail life cycle?

Accepted Answer

A) growth 
B) introduction 
C) expansion 
D) maturity 
E) accelerated development 
A) growth 
B) introduction 
C) expansion 
D) maturity 
E) accelerated development

Question 17

Recent research indicates that the timing of ________ might affect future sales because frequent promotions increase consumers' ability to remember regular prices.

Accepted Answer

A) seasonal markdowns 
B) original markups 
C) future markups 
D) maintained markups 
E) markdowns 
A) seasonal markdowns 
B) original markups 
C) future markups 
D) maintained markups 
E) markdowns

Question 18

Online retailing has evolved to include social shopping options like intermediaries (Groupon),marketplaces (Storenvy),and ________ (Yipit).

Accepted Answer

A) swap meets 
B) aggregators 
C) flash sales 
D) showroomers 
E) arbitrators 
A) swap meets 
B) aggregators 
C) flash sales 
D) showroomers 
E) arbitrators

Question 19

Independently owned firms that take title to the merchandise they handle are referred to as

Accepted Answer

A) brokers. 
B) agencies. 
C) virtual retailers. 
D) merchant wholesalers. 
E) merchant retailers. 
A) brokers. 
B) agencies. 
C) virtual retailers. 
D) merchant wholesalers. 
E) merchant retailers.

Question 20

To continue to be successful,Mall of America must

Accepted Answer

A) focus mostly on attracting suitable employees. 
B) keep a huge and diverse portfolio of retailers and attractions in the mall. 
C) refine and focus the retail mix to create a more consistent purchasing experience. 
D) promote its location as a key feature. 
E) reduce the variety of retailers to contain the costs of appealing to a wide range of customers. 
A) focus mostly on attracting suitable employees. 
B) keep a huge and diverse portfolio of retailers and attractions in the mall. 
C) refine and focus the retail mix to create a more consistent purchasing experience. 
D) promote its location as a key feature. 
E) reduce the variety of retailers to contain the costs of appealing to a wide range of customers.

Exam 16: Retailing and Wholesaling

A hypermarket is

Explain the difference between breadth of line and depth of line.Be sure to include the definition of scrambled merchandising in your explanation.

Figure 16-9 -Figure 16-9 above shows the wheel of retailing,which indicates that retail outlets typically go through changes with the passage of time,starting at Box A.What characteristics in the wheel of retailing does B represent?

Staples is a specialty discount retailer that focuses on one type of product-office supplies.Staples is an example of a

All of the following retailers provide self-service to their customers except which?

A limited-service wholesaler that furnishes shelves that display merchandise in stores,performs all channel functions,and sells on consignment to retailers is referred to as a

One of the most common forms of retail ownership is the ________ owned by an individual.

Retailing includes all activities involved in the

Mike's Camera is a retailer that carries a full line of professional and amateur cameras,develops and/or prints all types of film and digital photos,and even sells darkroom equipment.Mike's Camera is an example of a(n)

Off-price stores that attract customers who want value and appeal to customers who like a "corner store" environment rather than a large supercenter experience are referred to as

Timing is an important element of markdowns.Those retailers who take a markdown as soon as sales fall off most likely are doing so to

Consumers benefit in dealing with retail corporate chains because

Selling agents are agents that

McDonald's,7-Eleven,and Anytime Fitness are examples of

Some experts suggest that television shopping programs are becoming a modern version of ________ by combining elements of reality TV programs,talk shows,and infomercials.

Figure 16-10 -According to Figure 16-10 above,B represents which stage of the retail life cycle?

Recent research indicates that the timing of ________ might affect future sales because frequent promotions increase consumers' ability to remember regular prices.

Online retailing has evolved to include social shopping options like intermediaries (Groupon),marketplaces (Storenvy),and ________ (Yipit).

Independently owned firms that take title to the merchandise they handle are referred to as

To continue to be successful,Mall of America must

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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