Question 1

Retail outlets,like products,experience the process of growth and decline,which is referred to as the

Accepted Answer

A) retail life cycle. 
B) wheel of retailing. 
C) product life cycle. 
D) retail continuum. 
E) retail life matrix. 
A) retail life cycle. 
B) wheel of retailing. 
C) product life cycle. 
D) retail continuum. 
E) retail life matrix.

Question 2

Briefly describe the three levels of service offered by retail outlets.

Accepted Answer

Retail outlets generally offer three lev

Question 3

The oldest retail setting,located in the community's downtown area,is referred to as

Accepted Answer

A) the central business district. 
B) main street. 
C) the community square. 
D) the economic center. 
E) the historic commerce district. 
A) the central business district. 
B) main street. 
C) the community square. 
D) the economic center. 
E) the historic commerce district.

Question 4

The difference between the final selling price and the retailer's cost is referred to as the

Accepted Answer

A) original markup. 
B) maintained markup. 
C) markdown. 
D) differential markup. 
E) discounted price. 
A) original markup. 
B) maintained markup. 
C) markdown. 
D) differential markup. 
E) discounted price.

Question 5

Direct selling is likely to continue to have strong growth in markets

Accepted Answer

A) in which people prefer not to have a social shopping experience. 
B) where convenience is not especially important. 
C) in which consumers are knowledgeable shoppers. 
D) where there is a lack of effective distribution channels. 
E) that have an excellent infrastructure. 
A) in which people prefer not to have a social shopping experience. 
B) where convenience is not especially important. 
C) in which consumers are knowledgeable shoppers. 
D) where there is a lack of effective distribution channels. 
E) that have an excellent infrastructure.

Question 6

Depth of product line refers to

Accepted Answer

A) the percentage of goods stored as inventory. 
B) the variety of different product items a store carries. 
C) variations in price and color on specific items in a store. 
D) the assortment of each item carried by a store. 
E) the number of different product classes owned by a corporate chain. 
A) the percentage of goods stored as inventory. 
B) the variety of different product items a store carries. 
C) variations in price and color on specific items in a store. 
D) the assortment of each item carried by a store. 
E) the number of different product classes owned by a corporate chain.

Question 7

Your local Target retailer carries a variety of different items.You can find everything ranging from socks and DVDs to baby items and groceries.This is an example of the ________ carried by Target.

Accepted Answer

A) breadth of product line 
B) depth of product line 
C) variety of brand extension 
D) breadth of product class 
E) product mix 
A) breadth of product line 
B) depth of product line 
C) variety of brand extension 
D) breadth of product class 
E) product mix

Question 8

A large assortment of each item within a product line in a store is referred to as

Accepted Answer

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

Question 9

Retailers such as Williams-Sonoma that sell products through retail stores,catalogs,and online are examples of

Accepted Answer

A) intertype competitors. 
B) multichannel retailers. 
C) vertically integrated retailers. 
D) scrambled merchandisers. 
E) dual distributors. 
A) intertype competitors. 
B) multichannel retailers. 
C) vertically integrated retailers. 
D) scrambled merchandisers. 
E) dual distributors.

Question 10

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores.These are referred to as

Accepted Answer

A) extreme value retailers. 
B) warehouse clubs. 
C) discount houses. 
D) outlet stores. 
E) community shopping centers. 
A) extreme value retailers. 
B) warehouse clubs. 
C) discount houses. 
D) outlet stores. 
E) community shopping centers.

Question 11

Neighborhood grocers that work together with several other independent grocers that all agree to buy their goods directly from food manufacturers is a(n)

Accepted Answer

A)  retailer-sponsored cooperative. 
B)  consortium system. 
C)  administrative system. 
D)  conglomerate system. 
E)  contractual horizontal marketing system. 
A)  retailer-sponsored cooperative. 
B)  consortium system. 
C)  administrative system. 
D)  conglomerate system. 
E)  contractual horizontal marketing system.

Question 12

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

Accepted Answer

A) decline 
B) stabilization 
C) expansion 
D) maturity 
E) accelerated development 
A) decline 
B) stabilization 
C) expansion 
D) maturity 
E) accelerated development

Question 13

The four major types of limited-service merchant wholesalers are drop shippers,rack jobbers,truck jobbers,and

Accepted Answer

A) machine vendors. 
B) credit line wholesalers. 
C) transport vendors. 
D) cash and carry wholesalers. 
E) container transport vendors. 
A) machine vendors. 
B) credit line wholesalers. 
C) transport vendors. 
D) cash and carry wholesalers. 
E) container transport vendors.

Question 14

A(n)________ carries 3,700 to 8,000 items and usually stocks just one brand of appliance or food product.

Accepted Answer

A) warehouse club 
B) single-price retailer 
C) extreme value retailer 
D) hypermarket 
E) supercenter 
A) warehouse club 
B) single-price retailer 
C) extreme value retailer 
D) hypermarket 
E) supercenter

Question 15

According to the retail life cycle,in which stage would market share rise gradually,although profits may be low because of start-up costs?

Accepted Answer

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

Question 16

Identify and describe the functions of agents and brokers.

Accepted Answer

Agents and brokers do not take title to

Question 17

What future changes may be expected in retailing?

Accepted Answer

Retailers in the future are likely to co

Question 18

The retail positioning matrix is an analytical tool that

Accepted Answer

A) positions retail outlets in terms of the breadth of product line and value added. 
B) identifies the best location for building or leasing a retail store. 
C) identifies the specific customer base served by all stores within a given radius. 
D) identifies the most likely target market for a retail outlet based upon its size. 
E) identifies the elements of the retailing mix. 
A) positions retail outlets in terms of the breadth of product line and value added. 
B) identifies the best location for building or leasing a retail store. 
C) identifies the specific customer base served by all stores within a given radius. 
D) identifies the most likely target market for a retail outlet based upon its size. 
E) identifies the elements of the retailing mix.

Question 19

The use of displays,coupons,product samples,and other brand communications to influence shopping behavior in a store is referred to as

Accepted Answer

A) functional qualities. 
B) level of service. 
C) shopper marketing. 
D) lifestyle attributes. 
E) psychographic elements. 
A) functional qualities. 
B) level of service. 
C) shopper marketing. 
D) lifestyle attributes. 
E) psychographic elements.

Question 20

The wholesalers most prevalent in the hardware,drug,and clothing industries are

Accepted Answer

A) specialty wholesalers. 
B) full-line wholesalers. 
C) cash and carry wholesalers. 
D) limited-line wholesalers. 
E) universal wholesalers. 
A) specialty wholesalers. 
B) full-line wholesalers. 
C) cash and carry wholesalers. 
D) limited-line wholesalers. 
E) universal wholesalers.

Exam 16: Retailing and Wholesaling

Retail outlets,like products,experience the process of growth and decline,which is referred to as the

Briefly describe the three levels of service offered by retail outlets.

The oldest retail setting,located in the community's downtown area,is referred to as

The difference between the final selling price and the retailer's cost is referred to as the

Direct selling is likely to continue to have strong growth in markets

Depth of product line refers to

Your local Target retailer carries a variety of different items.You can find everything ranging from socks and DVDs to baby items and groceries.This is an example of the ________ carried by Target.

A large assortment of each item within a product line in a store is referred to as

Retailers such as Williams-Sonoma that sell products through retail stores,catalogs,and online are examples of

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores.These are referred to as

Neighborhood grocers that work together with several other independent grocers that all agree to buy their goods directly from food manufacturers is a(n)

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

The four major types of limited-service merchant wholesalers are drop shippers,rack jobbers,truck jobbers,and

A(n)________ carries 3,700 to 8,000 items and usually stocks just one brand of appliance or food product.

According to the retail life cycle,in which stage would market share rise gradually,although profits may be low because of start-up costs?

Identify and describe the functions of agents and brokers.

What future changes may be expected in retailing?

The retail positioning matrix is an analytical tool that

The use of displays,coupons,product samples,and other brand communications to influence shopping behavior in a store is referred to as

The wholesalers most prevalent in the hardware,drug,and clothing industries are

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

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