Question 1

Leveraging its physical stores to enhance value for customers,Walmart offers online shoppers a service

Accepted Answer

A) using a virtual reality shopping experience from their home computers. 
B) to order online and receive free same-day pickup at a local store. 
C) providing free shipping to customers if they order $100 or more of selected items. 
D) to shop in-store using virtual personal shoppers. 
E) to attend online auctions for Walmart overstock or seasonal items that are being discontinued to make room for new inventory. 
A) using a virtual reality shopping experience from their home computers. 
B) to order online and receive free same-day pickup at a local store. 
C) providing free shipping to customers if they order $100 or more of selected items. 
D) to shop in-store using virtual personal shoppers. 
E) to attend online auctions for Walmart overstock or seasonal items that are being discontinued to make room for new inventory.

Question 2

Vending machines are an example of

Accepted Answer

A) hypermarkets. 
B) direct mail. 
C) scrambled merchandising. 
D) intertype competition. 
E) nonstore retailing. 
A) hypermarkets. 
B) direct mail. 
C) scrambled merchandising. 
D) intertype competition. 
E) nonstore retailing.

Question 3

A manufacturer's sales office

Accepted Answer

A) works for several producers and carries noncompetitive,complementary merchandise in an exclusive territory. 
B) takes title to merchandise but sells only to buyers that call on them,pay cash for merchandise,and furnish their own transportation for the merchandise. 
C) carries a producer's inventory,performs the functions of a full-service wholesaler,and is an alternative to a merchant wholesaler. 
D) does not carry inventory,typically performs a sales function,and is an alternative to agents and brokers. 
E) brings buyers and sellers together to make sales. 
A) works for several producers and carries noncompetitive,complementary merchandise in an exclusive territory. 
B) takes title to merchandise but sells only to buyers that call on them,pay cash for merchandise,and furnish their own transportation for the merchandise. 
C) carries a producer's inventory,performs the functions of a full-service wholesaler,and is an alternative to a merchant wholesaler. 
D) does not carry inventory,typically performs a sales function,and is an alternative to agents and brokers. 
E) brings buyers and sellers together to make sales.

Question 4

Sam's Club and Costco are examples of

Accepted Answer

A) supercenters. 
B) hypermarkets. 
C) warehouse clubs. 
D) single-price retailers. 
E) outlet stores. 
A) supercenters. 
B) hypermarkets. 
C) warehouse clubs. 
D) single-price retailers. 
E) outlet stores.

Question 5

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

Accepted Answer

A) the cost of carrying inventory 
B) the inventory turnover 
C) the average number of items per transaction 
D) the number of returns 
E) the average length of a store visit 
A) the cost of carrying inventory 
B) the inventory turnover 
C) the average number of items per transaction 
D) the number of returns 
E) the average length of a store visit

Question 6

Some retailers now allow consumers to respond to their text messages announcing a sale for a specified time period.Consumers must then visit the site to purchase the sale items.Which of the following retailing websites offers these limited time "flash sales"?

Accepted Answer

A) TextBuyIt 
B) Best Buy 
C) PeaPod 
D) eBay 
E) Gilt 
A) TextBuyIt 
B) Best Buy 
C) PeaPod 
D) eBay 
E) Gilt

Question 7

Consumers often use the prices of ________ items,such as a can of Coke,to form an overall impression of the store's prices.

Accepted Answer

A) benchmark 
B) stoplight 
C) point-of-purchase 
D) value-based 
E) loss-leader 
A) benchmark 
B) stoplight 
C) point-of-purchase 
D) value-based 
E) loss-leader

Question 8

A 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 is referred to as a(n)

Accepted Answer

A)  power center. 
B)  regional shopping center. 
C)  community shopping center. 
D)  central business district. 
E)  urban megacenter. 
A)  power center. 
B)  regional shopping center. 
C)  community shopping center. 
D)  central business district. 
E)  urban megacenter.

Question 9

As a result of legislation,consumers who do not want to receive telephone calls related to company sales efforts can

Accepted Answer

A) purchase telephones that block unwanted calls. 
B) place their telephone numbers on the National Do Not Call Registry. 
C) request phone numbers that begin with the area code 555 that automatically block telemarketing solicitors. 
D) request phone numbers that begin with the area code 888 that automatically block telemarketing solicitors. 
E) use an unlisted telephone number. 
A) purchase telephones that block unwanted calls. 
B) place their telephone numbers on the National Do Not Call Registry. 
C) request phone numbers that begin with the area code 555 that automatically block telemarketing solicitors. 
D) request phone numbers that begin with the area code 888 that automatically block telemarketing solicitors. 
E) use an unlisted telephone number.

Question 10

A Woman's Place is a retail store,created and staffed by women,that offers products and services relating to maternity needs.For expectant mothers,it offers advice and personal shopping services,help with hair and/or make-up problems,and free delivery.A Woman's Place is an example of a(n)________ retailer.

Accepted Answer

A)  franchise 
B)  self-service 
C)  limited-service 
D)  full-service 
E)  upscale 
A)  franchise 
B)  self-service 
C)  limited-service 
D)  full-service 
E)  upscale

Question 11

The wheel of retailing refers to

Accepted Answer

A) the life cycle of most consumer products sold by retailers. 
B) the diffusion of types of retailers for a new product. 
C) the progression of retail locations an outlet goes through. 
D) the description of how new forms of retail outlets enter the market. 
E) the description of retail management philosophies. 
A) the life cycle of most consumer products sold by retailers. 
B) the diffusion of types of retailers for a new product. 
C) the progression of retail locations an outlet goes through. 
D) the description of how new forms of retail outlets enter the market. 
E) the description of retail management philosophies.

Question 12

Similar to the West Edmonton Mall in Alberta,Canada,with shopping,restaurants,hotels,and a theme park,the Mall of America is a variation of

Accepted Answer

A) a central business district. 
B) a regional shopping center. 
C) an entertainment district. 
D) a destination mall concept. 
E) an anchored mall. 
A) a central business district. 
B) a regional shopping center. 
C) an entertainment district. 
D) a destination mall concept. 
E) an anchored mall.

Question 13

Wholesalers that carry a broad assortment of merchandise and perform all channel functions are referred to as a

Accepted Answer

A) limited-line wholesaler. 
B) drop shipper. 
C) rack jobber. 
D) specialty merchandise wholesaler. 
E) general merchandise wholesaler. 
A) limited-line wholesaler. 
B) drop shipper. 
C) rack jobber. 
D) specialty merchandise wholesaler. 
E) general merchandise wholesaler.

Question 14

There are two general types of franchises: business-format franchises and ________ franchises.

Accepted Answer

A) product-distribution 
B) general service 
C) manufacturing 
D) distribution 
E) venture 
A) product-distribution 
B) general service 
C) manufacturing 
D) distribution 
E) venture

Question 15

The retailing mix refers to the activities related to managing a store,and includes

Accepted Answer

A) retail pricing,store location,retail communication,and merchandise. 
B) product,price,promotion,and place. 
C) the utilities of time,form,possession,and price. 
D) the colors,sizes,shapes,and point-of-purchase display locations of the store's products. 
E) selection of store location,selection of merchandise,hiring and training of employees,and promotion of both the store and products. 
A) retail pricing,store location,retail communication,and merchandise. 
B) product,price,promotion,and place. 
C) the utilities of time,form,possession,and price. 
D) the colors,sizes,shapes,and point-of-purchase display locations of the store's products. 
E) selection of store location,selection of merchandise,hiring and training of employees,and promotion of both the store and products.

Question 16

Which of the following statements regarding telemarketing is most accurate?

Accepted Answer

A) Shopping bots are computers that place automated or "robo" (i.e. ,robotic)telemarketing calls. 
B) Direct mail is typically viewed as a more efficient means of targeting consumers than telemarketing. 
C) Telemarketing has risen in efficacy as a result of the National Please-Do-Call registry legislation. 
D) Consumer privacy,industry standards,and ethical guidelines have become important issues. 
E) Many firms are considering shifting their direct-mail and door-to-door budgets to telemarketing techniques. 
A) Shopping bots are computers that place automated or "robo" (i.e. ,robotic)telemarketing calls. 
B) Direct mail is typically viewed as a more efficient means of targeting consumers than telemarketing. 
C) Telemarketing has risen in efficacy as a result of the National Please-Do-Call registry legislation. 
D) Consumer privacy,industry standards,and ethical guidelines have become important issues. 
E) Many firms are considering shifting their direct-mail and door-to-door budgets to telemarketing techniques.

Question 17

Carla's Cards uses a ________ to sell and market the entire line of greeting cards.It designs promotional plans,sets prices,determines distribution policies,and makes recommendations to Carla on product strategy.

Accepted Answer

A) manufacturer's agent 
B) broker 
C) manufacturer's branch office 
D) manufacturer's sales office 
E) selling agent 
A) manufacturer's agent 
B) broker 
C) manufacturer's branch office 
D) manufacturer's sales office 
E) selling agent

Question 18

A wholly owned extension of the producer that does not carry inventory,typically performs only a sales function,and is an alternative to agents and brokers is referred to as a

Accepted Answer

A) brokering agent. 
B) cash and carry wholesaler. 
C) manufacturer's sales office. 
D) manufacturer's branch office. 
E) merchant wholesaler. 
A) brokering agent. 
B) cash and carry wholesaler. 
C) manufacturer's sales office. 
D) manufacturer's branch office. 
E) merchant wholesaler.

Question 19

Explain what a markdown is and its timing (i.e. ,when a retailer uses it).

Accepted Answer

A markdown involves discounting a produc

Question 20

Explain the difference between full-service and limited-service merchant wholesalers.List and describe the types of wholesalers that belong in each category.

Accepted Answer

Merchant wholesalers are classified eith

Exam 16: Retailing and Wholesaling

Leveraging its physical stores to enhance value for customers,Walmart offers online shoppers a service

Vending machines are an example of

A manufacturer's sales office

Sam's Club and Costco are examples of

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

Some retailers now allow consumers to respond to their text messages announcing a sale for a specified time period.Consumers must then visit the site to purchase the sale items.Which of the following retailing websites offers these limited time "flash sales"?

Consumers often use the prices of ________ items,such as a can of Coke,to form an overall impression of the store's prices.

A 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 is referred to as a(n)

As a result of legislation,consumers who do not want to receive telephone calls related to company sales efforts can

The wheel of retailing refers to

Similar to the West Edmonton Mall in Alberta,Canada,with shopping,restaurants,hotels,and a theme park,the Mall of America is a variation of

Wholesalers that carry a broad assortment of merchandise and perform all channel functions are referred to as a

There are two general types of franchises: business-format franchises and ________ franchises.

The retailing mix refers to the activities related to managing a store,and includes

Which of the following statements regarding telemarketing is most accurate?

Carla's Cards uses a ________ to sell and market the entire line of greeting cards.It designs promotional plans,sets prices,determines distribution policies,and makes recommendations to Carla on product strategy.

A wholly owned extension of the producer that does not carry inventory,typically performs only a sales function,and is an alternative to agents and brokers is referred to as a

Explain what a markdown is and its timing (i.e. ,when a retailer uses it).

Explain the difference between full-service and limited-service merchant wholesalers.List and describe the types of wholesalers that belong in each category.

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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