Question 1

Key target markets for Mall of America are

Accepted Answer

A) the interstate market and discount shoppers. 
B) shoppers who seek mainstream experiences and bargain hunters. 
C) large numbers of similar retailers to maintain a consistent retail profile. 
D) budget-conscious travelers and time-poor shoppers. 
E) the local market and tourists. 
A) the interstate market and discount shoppers. 
B) shoppers who seek mainstream experiences and bargain hunters. 
C) large numbers of similar retailers to maintain a consistent retail profile. 
D) budget-conscious travelers and time-poor shoppers. 
E) the local market and tourists.

Question 2

What is off-price retailing? Identify and give an example of the three variations of off-price retailing.

Accepted Answer

Off-price retailing involves selling bra

Question 3

Subway restaurants that offer sandwiches made exactly to each customer's preference are providing ________ utility.

Accepted Answer

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

Question 4

The ability to shop over the Internet 24 hours a day,seven days a week,provides consumers with ________ utility.

Accepted Answer

A) form 
B) time 
C) convenience 
D) possession 
E) performance 
A) form 
B) time 
C) convenience 
D) possession 
E) performance

Question 5

The variety of different items a store carries is referred to as the

Accepted Answer

A) retailing mix. 
B) depth of product line. 
C) breadth of product line. 
D) width of product line. 
E) length of product line. 
A) retailing mix. 
B) depth of product line. 
C) breadth of product line. 
D) width of product line. 
E) length of product line.

Question 6

Stores that carry a considerable assortment (depth)of a related line of items are referred to as

Accepted Answer

A) limited-line stores. 
B) general merchandise stores. 
C) scrambled merchandise stores. 
D) hypermarkets. 
E) intertype outlets. 
A) limited-line stores. 
B) general merchandise stores. 
C) scrambled merchandise stores. 
D) hypermarkets. 
E) intertype outlets.

Question 7

________ describes very dissimilar types of retail outlets that compete with each other as a result of scrambled merchandising.

Accepted Answer

A) The wheel of retailing 
B) The retail positioning framework 
C) Intertype competition 
D) The retail competitive cycle 
E) The multichannel retail competitive map 
A) The wheel of retailing 
B) The retail positioning framework 
C) Intertype competition 
D) The retail competitive cycle 
E) The multichannel retail competitive map

Question 8

Explain the difference between a markup,an original markup,and a maintained markup.

Accepted Answer

In setting prices for merchandise,retail

Question 9

Originally,filters for Mr.Coffee electric-drip coffeemakers were sold through appliance and mass merchandise stores.If the company decided to sell the filters in grocery stores where customers purchased their coffee,what type of intermediaries would the company most likely hire?

Accepted Answer

A) a full-line wholesaler 
B) a drop shipper 
C) a food broker 
D) a truck jobber 
E) a manufacturer's representative 
A) a full-line wholesaler 
B) a drop shipper 
C) a food broker 
D) a truck jobber 
E) a manufacturer's representative

Question 10

A grocery manufacturer that is seeking an agent that would act on its behalf on a permanent basis and receive a commission should use a

Accepted Answer

A) food broker. 
B) grocery broker. 
C) selling agent. 
D) dual distribution system. 
E) rack jobber. 
A) food broker. 
B) grocery broker. 
C) selling agent. 
D) dual distribution system. 
E) rack jobber.

Question 11

In the retail life cycle,________ is the stage of emergence of a retail outlet,with a sharp departure from existing competition.

Accepted Answer

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

Question 12

Walmart and The Home Depot emphasize consistently low prices and eliminate most markdowns with a retail pricing strategy called

Accepted Answer

A) low-margin pricing. 
B) value-based pricing. 
C) everyday low pricing. 
D) everyday fair pricing. 
E) markdown pricing. 
A) low-margin pricing. 
B) value-based pricing. 
C) everyday low pricing. 
D) everyday fair pricing. 
E) markdown pricing.

Question 13

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as a(n)

Accepted Answer

A)  markup. 
B)  markdown. 
C)  original markup. 
D)  maintained markup. 
E)  cost-plus markup. 
A)  markup. 
B)  markdown. 
C)  original markup. 
D)  maintained markup. 
E)  cost-plus markup.

Question 14

A franchise where the franchiser provides a few general guidelines and more independence to the franchisee is known as a

Accepted Answer

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

Question 15

Freightfinder.com is an Internet company that is called a "go-between." If a trucker needs to find a load for a particular trade lane,he or she can visit this site,list the price and available truck space,and find a company that needs a shipment moved.Since the purpose of this website is to put buyer and sellers together so that a single sale can be made,this website can be categorized as

Accepted Answer

A) a selling agent. 
B) a manufacturer's representative. 
C) a manufacturer's agent. 
D) a broker. 
E) an administrator. 
A) a selling agent. 
B) a manufacturer's representative. 
C) a manufacturer's agent. 
D) a broker. 
E) an administrator.

Question 16

Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried?

Accepted Answer

A) general merchandise wholesaler 
B) limited-service wholesaler 
C) cash and carry wholesaler 
D) specialty merchandise wholesaler 
E) drop shipper 
A) general merchandise wholesaler 
B) limited-service wholesaler 
C) cash and carry wholesaler 
D) specialty merchandise wholesaler 
E) drop shipper

Question 17

As a franchisor,7-Eleven would assist a franchisee in selecting the store location,setting up the store,advertising,and

Accepted Answer

A) developing the marketing program. 
B) training personnel. 
C) offering performance bonuses. 
D) ordering and restocking inventory. 
E) paying insurance and legal fees. 
A) developing the marketing program. 
B) training personnel. 
C) offering performance bonuses. 
D) ordering and restocking inventory. 
E) paying insurance and legal fees.

Question 18

Which of the following statements regarding direct selling is most accurate?

Accepted Answer

A) Unlike other forms of nonstore retailing,direct selling takes place in the business market. 
B) Direct selling is found exclusively in the United States. 
C) Direct selling succeeds because it provides customers with a social shopping experience. 
D) Direct sales have been declining rapidly in the United States since the 1980s. 
E) By definition,direct selling can only take place in a home. 
A) Unlike other forms of nonstore retailing,direct selling takes place in the business market. 
B) Direct selling is found exclusively in the United States. 
C) Direct selling succeeds because it provides customers with a social shopping experience. 
D) Direct sales have been declining rapidly in the United States since the 1980s. 
E) By definition,direct selling can only take place in a home.

Question 19

Unlike merchant wholesalers,agents,and brokers,manufacturers' branches and sales offices are ________ that perform wholesaling activities.

Accepted Answer

A) independent distribution managers 
B) independent intermediary channels 
C) wholly owned extensions of the producer 
D) wholly owned extensions of the distributor 
E) wholly owned extensions of the retailer 
A) independent distribution managers 
B) independent intermediary channels 
C) wholly owned extensions of the producer 
D) wholly owned extensions of the distributor 
E) wholly owned extensions of the retailer

Question 20

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as

Accepted Answer

A) manufacturing. 
B) retailing. 
C) wholesaling. 
D) facilitating. 
E) logistics. 
A) manufacturing. 
B) retailing. 
C) wholesaling. 
D) facilitating. 
E) logistics.

Exam 16: Retailing and Wholesaling

Key target markets for Mall of America are

What is off-price retailing? Identify and give an example of the three variations of off-price retailing.

Subway restaurants that offer sandwiches made exactly to each customer's preference are providing ________ utility.

The ability to shop over the Internet 24 hours a day,seven days a week,provides consumers with ________ utility.

The variety of different items a store carries is referred to as the

Stores that carry a considerable assortment (depth)of a related line of items are referred to as

________ describes very dissimilar types of retail outlets that compete with each other as a result of scrambled merchandising.

Explain the difference between a markup,an original markup,and a maintained markup.

Originally,filters for Mr.Coffee electric-drip coffeemakers were sold through appliance and mass merchandise stores.If the company decided to sell the filters in grocery stores where customers purchased their coffee,what type of intermediaries would the company most likely hire?

A grocery manufacturer that is seeking an agent that would act on its behalf on a permanent basis and receive a commission should use a

In the retail life cycle,________ is the stage of emergence of a retail outlet,with a sharp departure from existing competition.

Walmart and The Home Depot emphasize consistently low prices and eliminate most markdowns with a retail pricing strategy called

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as a(n)

A franchise where the franchiser provides a few general guidelines and more independence to the franchisee is known as a

Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried?

As a franchisor,7-Eleven would assist a franchisee in selecting the store location,setting up the store,advertising,and

Which of the following statements regarding direct selling is most accurate?

Unlike merchant wholesalers,agents,and brokers,manufacturers' branches and sales offices are ________ that perform wholesaling activities.

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as

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