Question 1

Offering several unrelated product lines in a single store is referred to as

Accepted Answer

A) intertype competition. 
B) multiple distribution. 
C) scrambled merchandising. 
D) a department store. 
E) a specialty outlet. 
A) intertype competition. 
B) multiple distribution. 
C) scrambled merchandising. 
D) a department store. 
E) a specialty outlet.

Question 2

Most of the 3.7 million retail establishments in the United States,including hardware stores,convenience stores,clothing stores,and electronics stores,are considered

Accepted Answer

A) corporate chains. 
B) contractual systems. 
C) independent retailers. 
D) conglomerates. 
E) multinationals. 
A) corporate chains. 
B) contractual systems. 
C) independent retailers. 
D) conglomerates. 
E) multinationals.

Question 3

The sales of products and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as

Accepted Answer

A) direct selling. 
B) person-to-person sales. 
C) face-to-face selling. 
D) direct-response selling. 
E) customized selling. 
A) direct selling. 
B) person-to-person sales. 
C) face-to-face selling. 
D) direct-response selling. 
E) customized selling.

Question 4

Independent retailers account for most of the ________ retail establishments in the United States.

Accepted Answer

A) 50,000 
B) 90,000 
C) 900,000 
D) 1)8 million 
E) 3)7 million 
A) 50,000 
B) 90,000 
C) 900,000 
D) 1)8 million 
E) 3)7 million

Question 5

Explain the difference between a hypermarket and a supercenter.

Accepted Answer

The hypermarket is a form of scrambled m

Question 6

Outlets where customers are responsible for most shopping activities,although salespeople are available in some departments,would be classified as ________ retail outlets.

Accepted Answer

A) limited-service 
B) exclusive-service 
C) minimal-service 
D) self-service 
E) full-service 
A) limited-service 
B) exclusive-service 
C) minimal-service 
D) self-service 
E) full-service

Question 7

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

Accepted Answer

A) Hannah's Hardware uses a rack jobber for its hammers. 
B) Fiona's Floral uses a truck jobber for its cut roses. 
C) Sam's Coal Country uses a truck jobber for its subway cars. 
D) Shayna's Superior Supplies uses a desk jobber for its staplers. 
E) Josh's Jackhammers uses a rack jobber for its hard hats. 
A) Hannah's Hardware uses a rack jobber for its hammers. 
B) Fiona's Floral uses a truck jobber for its cut roses. 
C) Sam's Coal Country uses a truck jobber for its subway cars. 
D) Shayna's Superior Supplies uses a desk jobber for its staplers. 
E) Josh's Jackhammers uses a rack jobber for its hard hats.

Question 8

Not every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores usually

Accepted Answer

A) is unplanned. 
B) includes national anchor stores. 
C) is restricted to privately owned specialty stores. 
D) is mainly fast-food restaurants. 
E) includes amusement or theme parks,or movie theaters. 
A) is unplanned. 
B) includes national anchor stores. 
C) is restricted to privately owned specialty stores. 
D) is mainly fast-food restaurants. 
E) includes amusement or theme parks,or movie theaters.

Question 9

The ________ provided by retailers create value for consumers.

Accepted Answer

A) utilities 
B) wholesaling functions 
C) outsourcing functions 
D) profits 
E) synergies 
A) utilities 
B) wholesaling functions 
C) outsourcing functions 
D) profits 
E) synergies

Question 10

CarMax dealers have adopted a "no-haggle" sales policy that eliminates the need for negotiating.Instead,all customers are offered the same price.Test drives,financing,trade-ins,and leasing are all offered to encourage customers to purchase a car.Which utility does CarMax best provide?

Accepted Answer

A) product 
B) form 
C) convenience 
D) service 
E) possession 
A) product 
B) form 
C) convenience 
D) service 
E) possession

Question 11

By selling franchises,an organization ________ the cost of expansion and ________ its control compared to owning its own retail outlets.

Accepted Answer

A) increases;increases 
B) increases;reduces 
C) reduces;increases 
D) increases;retains almost all 
E) reduces;reduces 
A) increases;increases 
B) increases;reduces 
C) reduces;increases 
D) increases;retains almost all 
E) reduces;reduces

Question 12

Scrambled merchandising refers to

Accepted Answer

A) displaying merchandise throughout a store rather than keeping all similar items together in rows on a shelf or point-of-purchase displays. 
B) offering several unrelated product lines in a single store. 
C) changing the position in which items are displayed in a store to create customer interest in a variety of product lines. 
D) offering several related product lines in multiple stores. 
E) offering several related product lines in a single store. 
A) displaying merchandise throughout a store rather than keeping all similar items together in rows on a shelf or point-of-purchase displays. 
B) offering several unrelated product lines in a single store. 
C) changing the position in which items are displayed in a store to create customer interest in a variety of product lines. 
D) offering several related product lines in multiple stores. 
E) offering several related product lines in a single store.

Question 13

Williams-Sonoma is a specialty store that caters to customers who like to cook at home.It offers free cooking classes,has frequent demonstrations by cookbook authors,and has employees who are knowledgeable about food preparation.The sales staff helps customers make their selections.Williams-Sonoma is a(n)________ retailer.

Accepted Answer

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

Question 14

Large shopping areas often contain two or three ________ stores,which are well-known national or regional stores such as Nordstrom,Saks Fifth Avenue,and Bloomingdale's.

Accepted Answer

A) power 
B) mega 
C) anchor 
D) value 
E) Outlet 
A) power 
B) mega 
C) anchor 
D) value 
E) Outlet

Question 15

When Home Depot switched its in-store light fixture displays to compact fluorescent light and LED bulbs,painted the roofs of its stores white,and installed solar panels,it reduced its energy use by ________ percent.

Accepted Answer

A) 5 
B) 10 
C) 15 
D) 20 
E) 25 
A) 5 
B) 10 
C) 15 
D) 20 
E) 25

Question 16

Which type of outlet is most likely in its maturity stage of the retail life cycle?

Accepted Answer

A) single-price stores 
B) value retail centers 
C) online retailers 
D) business-district retailers 
E) convenience stores 
A) single-price stores 
B) value retail centers 
C) online retailers 
D) business-district retailers 
E) convenience stores

Question 17

Shrinkage in retailing refers to

Accepted Answer

A) the declining number of small privately owned retail stores due to economic hard times. 
B) breakage,theft,and fraud by customers and employees. 
C) the percentage of inventory that is damaged or unsalable because of product failure. 
D) the loss of profits in clothing items that are returned because of inferior materials. 
E) polycarbonate packaging that encases products with a tamper-resistant plastic seal. 
A) the declining number of small privately owned retail stores due to economic hard times. 
B) breakage,theft,and fraud by customers and employees. 
C) the percentage of inventory that is damaged or unsalable because of product failure. 
D) the loss of profits in clothing items that are returned because of inferior materials. 
E) polycarbonate packaging that encases products with a tamper-resistant plastic seal.

Question 18

Outside the United States,large retailers include ________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Accepted Answer

A) Aeon 
B) Toshei 
C) Seebi 
D) Goshen 
E) Toshi 
A) Aeon 
B) Toshei 
C) Seebi 
D) Goshen 
E) Toshi

Question 19

Growth in the direct-selling industry is the result of two trends: direct-selling retailers are expanding into markets outside the United States,and

Accepted Answer

A) increased gas prices and traffic congestion are causing people to want the store to deliver the products to them. 
B) the pendulum is beginning to swing back to more mothers (and fathers)staying home during the day with children,making direct selling more convenient. 
C) the cost of purchasing or leasing real estate to build an actual "brick" retail store is becoming prohibitive. 
D) graduating business students are finding it more difficult to find a traditional sales position and like the idea of being their own bosses. 
E) some consumers prefer one-on-one customer service and a social shopping experience rather than online shopping or big discount stores. 
A) increased gas prices and traffic congestion are causing people to want the store to deliver the products to them. 
B) the pendulum is beginning to swing back to more mothers (and fathers)staying home during the day with children,making direct selling more convenient. 
C) the cost of purchasing or leasing real estate to build an actual "brick" retail store is becoming prohibitive. 
D) graduating business students are finding it more difficult to find a traditional sales position and like the idea of being their own bosses. 
E) some consumers prefer one-on-one customer service and a social shopping experience rather than online shopping or big discount stores.

Question 20

Vending machines are no longer limited by the need for cash.In Japan,South Korea,and the Philippines,consumers use mobile phones that transmit payments to vending machines wirelessly.This is an example of how vending machines can provide which type of utility?

Accepted Answer

A) time 
B) place 
C) possession 
D) product 
E) form 
A) time 
B) place 
C) possession 
D) product 
E) form

Exam 16: Retailing and Wholesaling

Offering several unrelated product lines in a single store is referred to as

Most of the 3.7 million retail establishments in the United States,including hardware stores,convenience stores,clothing stores,and electronics stores,are considered

The sales of products and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as

Independent retailers account for most of the ________ retail establishments in the United States.

Explain the difference between a hypermarket and a supercenter.

Outlets where customers are responsible for most shopping activities,although salespeople are available in some departments,would be classified as ________ retail outlets.

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

Not every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores usually

The ________ provided by retailers create value for consumers.

CarMax dealers have adopted a "no-haggle" sales policy that eliminates the need for negotiating.Instead,all customers are offered the same price.Test drives,financing,trade-ins,and leasing are all offered to encourage customers to purchase a car.Which utility does CarMax best provide?

By selling franchises,an organization ________ the cost of expansion and ________ its control compared to owning its own retail outlets.

Scrambled merchandising refers to

Large shopping areas often contain two or three ________ stores,which are well-known national or regional stores such as Nordstrom,Saks Fifth Avenue,and Bloomingdale's.

When Home Depot switched its in-store light fixture displays to compact fluorescent light and LED bulbs,painted the roofs of its stores white,and installed solar panels,it reduced its energy use by ________ percent.

Which type of outlet is most likely in its maturity stage of the retail life cycle?

Shrinkage in retailing refers to

Outside the United States,large retailers include ________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Growth in the direct-selling industry is the result of two trends: direct-selling retailers are expanding into markets outside the United States,and

Vending machines are no longer limited by the need for cash.In Japan,South Korea,and the Philippines,consumers use mobile phones that transmit payments to vending machines wirelessly.This is an example of how vending machines can provide which type of utility?

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

Filters

By selling franchises,an organization the cost of expansion and its control compared to owning its own retail outlets.