Question 1

The three key methods of classifying retail operations are

Accepted Answer

A) method of operation,revenues generated,and merchandise line. 
B) form of ownership,method of operation,and merchandise line. 
C) form of ownership,level of service,and merchandise line. 
D) level of service,merchandise line,and revenues generated. 
E) merchandise line,form of ownership,and revenues generated. 
A) method of operation,revenues generated,and merchandise line. 
B) form of ownership,method of operation,and merchandise line. 
C) form of ownership,level of service,and merchandise line. 
D) level of service,merchandise line,and revenues generated. 
E) merchandise line,form of ownership,and revenues generated.

Question 2

The complementary role of different communication and delivery channels is referred to as

Accepted Answer

A) the cumulative effect. 
B) the primary effect. 
C) the cross-over effect. 
D) the complementary effect. 
E) the influence effect. 
A) the cumulative effect. 
B) the primary effect. 
C) the cross-over effect. 
D) the complementary effect. 
E) the influence effect.

Question 3

Boston Pizza wants to determine how effective its retail space is compared to other pizza establishments in the local area.The calculation for this indicator is arrived at by determining the ________ for its store and comparing it against the same indicator for all of the other local pizza outlets.

Accepted Answer

A) same-store gross margin 
B) same-store sales growth 
C) sales per square foot 
D) net profit 
E) same-store net present value 
A) same-store gross margin 
B) same-store sales growth 
C) sales per square foot 
D) net profit 
E) same-store net present value

Question 4

An approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other,with the objective of maximizing sales and profits in the category,is referred to as

Accepted Answer

A) category capacity. 
B) product management. 
C) retail inventory category. 
D) category management. 
E) automated inventory control. 
A) category capacity. 
B) product management. 
C) retail inventory category. 
D) category management. 
E) automated inventory control.

Question 5

Price ranges,store layouts,and breadth and depth of merchandise lines are considered to be the ________ of a store's image.

Accepted Answer

A) functional qualities 
B) sociological qualities 
C) psychological attributes 
D) lifestyle attributes 
E) atmospheric elements 
A) functional qualities 
B) sociological qualities 
C) psychological attributes 
D) lifestyle attributes 
E) atmospheric elements

Question 6

The value added dimension of the retail positioning matrix includes elements such as location,product reliability,and

Accepted Answer

A) prestige. 
B) price. 
C) market share. 
D) number of employees. 
E) level of service. 
A) prestige. 
B) price. 
C) market share. 
D) number of employees. 
E) level of service.

Question 7

A supercenter is a(n)

Accepted Answer

A)  auto service center that sells and leases cars as well as repairs them. 
B)  type of specialty outlet. 
C)  store that combines a typical merchandise store with a full-size grocery store. 
D)  mall with more than 100 stores and several important anchor stores. 
E)  store one step larger than a hypermarket. 
A)  auto service center that sells and leases cars as well as repairs them. 
B)  type of specialty outlet. 
C)  store that combines a typical merchandise store with a full-size grocery store. 
D)  mall with more than 100 stores and several important anchor stores. 
E)  store one step larger than a hypermarket.

Question 8

A form of ownership that involves multiple outlets under common ownership is referred to as a(n)

Accepted Answer

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

Question 9

Walmart has developed a sophisticated inventory management and cost control system that allows rapid price changes for each product in the store.The firm also uses technologies such as ________ to improve the quality of information available about products.

Accepted Answer

A) radio frequency identification 
B) encapsulation techniques 
C) bar code scanners 
D) nanotechnology 
E) cookies 
A) radio frequency identification 
B) encapsulation techniques 
C) bar code scanners 
D) nanotechnology 
E) cookies

Question 10

Nordstrom stores typically have 50 percent more salespeople on the floor than other retailers with stores of similar sizes.Its salespeople are renowned for their professional and personalized attention to customers.Nordstrom offers a wide variety of services,including on-site alterations and tailoring,a 7-days-a-week customer service line,live chat line with beauty,design,and wedding specialists and would be considered a(n)

Accepted Answer

A)  exclusive-service retailer. 
B)  limited-service retailer. 
C)  full-service retailer. 
D)  upscale retailer. 
E)  limited-domain retailer. 
A)  exclusive-service retailer. 
B)  limited-service retailer. 
C)  full-service retailer. 
D)  upscale retailer. 
E)  limited-domain retailer.

Question 11

Multichannel retailers are retailers that

Accepted Answer

A) sell different products through entirely different channels. 
B) sell through different channels under different brand names. 
C) utilize strategic and tactical wholesalers. 
D) utilize and integrate a combination of traditional store formats and nonstore formats. 
E) combine two channels for their offerings: one for products and the other for services. 
A) sell different products through entirely different channels. 
B) sell through different channels under different brand names. 
C) utilize strategic and tactical wholesalers. 
D) utilize and integrate a combination of traditional store formats and nonstore formats. 
E) combine two channels for their offerings: one for products and the other for services.

Question 12

In the telemarketing industry,issues such as ________,ethical guidelines,and industry standards have become a topic of discussion among consumers,Congress,the Federal Trade Commission (FTC),and businesses.

Accepted Answer

A) competitive antics 
B) coercion tactics 
C) freedom of speech 
D) language issues 
E) consumer privacy 
A) competitive antics 
B) coercion tactics 
C) freedom of speech 
D) language issues 
E) consumer privacy

Question 13

Meijer operates a chain of hypermarkets headquartered in Michigan,which means it

Accepted Answer

A) engages in no intertype competition. 
B) is a disintermediator. 
C) uses scrambled merchandising. 
D) can also be referred to as a category killer. 
E) uses dual distribution. 
A) engages in no intertype competition. 
B) is a disintermediator. 
C) uses scrambled merchandising. 
D) can also be referred to as a category killer. 
E) uses dual distribution.

Question 14

Why are vending machine prices often higher than those in a retail store?

Accepted Answer

Vending machine maintenance,op

Question 15

Anytime Fitness is a popular

Accepted Answer

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

Question 16

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as

Accepted Answer

A) brokers. 
B) line brokers. 
C) selling agents. 
D) distribution brokers. 
E) manufacturers' agents. 
A) brokers. 
B) line brokers. 
C) selling agents. 
D) distribution brokers. 
E) manufacturers' agents.

Question 17

A unique broker that acts in many ways like a manufacturer's agent is a food broker,representing buyers and sellers in the grocery industry.Food brokers differ from conventional brokers because they act on behalf of producers on a permanent basis and

Accepted Answer

A) receive a commission for their services. 
B) are paid a flat fee for each time the shelves are stocked. 
C) are paid by both the buyer and seller separately depending upon the size of the order. 
D) are paid a commission by the buyer and a bonus by the seller. 
E) are paid a flat fee by both the buyer and seller,but receive a bonus based upon the percentage of increased sales by quarter. 
A) receive a commission for their services. 
B) are paid a flat fee for each time the shelves are stocked. 
C) are paid by both the buyer and seller separately depending upon the size of the order. 
D) are paid a commission by the buyer and a bonus by the seller. 
E) are paid a flat fee by both the buyer and seller,but receive a bonus based upon the percentage of increased sales by quarter.

Question 18

Most stores today are near several others in one of five settings that include all of the following except which?

Accepted Answer

A) the regional shopping center 
B) the strip mall 
C) the old-town district 
D) the community shopping center 
E) the power center 
A) the regional shopping center 
B) the strip mall 
C) the old-town district 
D) the community shopping center 
E) the power center

Question 19

In the context of omnichannel retailing,all of the following are potential consumer touch points for a retailer except which?

Accepted Answer

A) picking up the product from the nearest store 
B) providing feedback on the retailer's Facebook page 
C) placing an order online 
D) using displays,coupons,product samples,and other brand communications to influence shopping behavior 
E) using a mobile app to scan a QR code from a catalog 
A) picking up the product from the nearest store 
B) providing feedback on the retailer's Facebook page 
C) placing an order online 
D) using displays,coupons,product samples,and other brand communications to influence shopping behavior 
E) using a mobile app to scan a QR code from a catalog

Question 20

Discounting generally takes place during which stage of the retail life cycle?

Accepted Answer

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

Exam 16: Retailing and Wholesaling

The three key methods of classifying retail operations are

The complementary role of different communication and delivery channels is referred to as

Boston Pizza wants to determine how effective its retail space is compared to other pizza establishments in the local area.The calculation for this indicator is arrived at by determining the ________ for its store and comparing it against the same indicator for all of the other local pizza outlets.

An approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other,with the objective of maximizing sales and profits in the category,is referred to as

Price ranges,store layouts,and breadth and depth of merchandise lines are considered to be the ________ of a store's image.

The value added dimension of the retail positioning matrix includes elements such as location,product reliability,and

A supercenter is a(n)

A form of ownership that involves multiple outlets under common ownership is referred to as a(n)

Walmart has developed a sophisticated inventory management and cost control system that allows rapid price changes for each product in the store.The firm also uses technologies such as ________ to improve the quality of information available about products.

Multichannel retailers are retailers that

In the telemarketing industry,issues such as ________,ethical guidelines,and industry standards have become a topic of discussion among consumers,Congress,the Federal Trade Commission (FTC),and businesses.

Meijer operates a chain of hypermarkets headquartered in Michigan,which means it

Why are vending machine prices often higher than those in a retail store?

Anytime Fitness is a popular

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as

A unique broker that acts in many ways like a manufacturer's agent is a food broker,representing buyers and sellers in the grocery industry.Food brokers differ from conventional brokers because they act on behalf of producers on a permanent basis and

Most stores today are near several others in one of five settings that include all of the following except which?

In the context of omnichannel retailing,all of the following are potential consumer touch points for a retailer except which?

Discounting generally takes place during which stage of the retail life cycle?

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