Question 1

An IKEA mail order catalog is an example of ________ retailing.

Accepted Answer

A) intrusive 
B) intertype 
C) scrambled 
D) nonstore 
E) hypermarket 
A) intrusive 
B) intertype 
C) scrambled 
D) nonstore 
E) hypermarket

Question 2

Ford dealerships represent which type of franchise?

Accepted Answer

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

Question 3

A store chain is looking for a wholesaler to furnish its health and beauty display shelves,perform all channel functions,and sell to it on consignment.Which of the following would be the wisest wholesaler choice for its requirements?

Accepted Answer

A) a rack jobber 
B) a truck jobber 
C) a cash and carry wholesaler 
D) a desk jobber 
E) a drop shipper 
A) a rack jobber 
B) a truck jobber 
C) a cash and carry wholesaler 
D) a desk jobber 
E) a drop shipper

Question 4

Intangibles,such as a sense of belonging,excitement,style,or warmth,are considered to be ________ of a store's image.

Accepted Answer

A) functional qualities 
B) sociological qualities 
C) psychological attributes 
D) antecedent attributes 
E) personality elements 
A) functional qualities 
B) sociological qualities 
C) psychological attributes 
D) antecedent attributes 
E) personality elements

Question 5

When Paulette first saw the dress in the store window,she knew two things.She had to own the dress,and she could not afford it at its current price.Disappointed,she left.Two weeks later,she passed by the store again and saw that the price of the dress had been reduced to one that she could afford.Specifically,the store had reduced the price by 30 percent to "move" it.Paulette was able to purchase the dress because of a(n)

Accepted Answer

A)  negative markup. 
B)  markup elimination. 
C)  markdown. 
D)  liquidity reduction. 
E)  increase in net margin. 
A)  negative markup. 
B)  markup elimination. 
C)  markdown. 
D)  liquidity reduction. 
E)  increase in net margin.

Question 6

Which of the following is an example of nonstore retailing?

Accepted Answer

A) hypermarkets 
B) supercenters 
C) shopping centers 
D) telemarketing 
E) general merchandise stores 
A) hypermarkets 
B) supercenters 
C) shopping centers 
D) telemarketing 
E) general merchandise stores

Question 7

A common financial indicator of how effectively retail space is used to generate revenue can be calculated by determining

Accepted Answer

A) net sales. 
B) markdown percentage. 
C) market share. 
D) sales per square foot. 
E) transactions per customer. 
A) net sales. 
B) markdown percentage. 
C) market share. 
D) sales per square foot. 
E) transactions per customer.

Question 8

Wholesalers that own the merchandise they sell but do not physically handle,stock,or deliver it are referred to as

Accepted Answer

A) cash and carry wholesalers. 
B) rack jobbers. 
C) truck jobbers. 
D) manufacturer's representatives. 
E) drop shippers. 
A) cash and carry wholesalers. 
B) rack jobbers. 
C) truck jobbers. 
D) manufacturer's representatives. 
E) drop shippers.

Question 9

Figure 16-8
  
-Which of the following retailers would best fit in quadrant C shown in the retail positioning matrix,Figure 16-8 above?

Accepted Answer

A) Kmart 
B) Dillard's department store 
C) 7-Eleven convenience store 
D) Payless ShoeSource 
E) Lamborghini automobile dealer 
A) Kmart 
B) Dillard's department store 
C) 7-Eleven convenience store 
D) Payless ShoeSource 
E) Lamborghini automobile dealer

Question 10

The four utilities offered to consumers through retailing are

Accepted Answer

A) convenience,performance,possession,and form. 
B) time,place,possession,and form. 
C) product,price,place,and promotion. 
D) people,productivity,process,and physical environment. 
E) convenience,consistency,competition,and choice. 
A) convenience,performance,possession,and form. 
B) time,place,possession,and form. 
C) product,price,place,and promotion. 
D) people,productivity,process,and physical environment. 
E) convenience,consistency,competition,and choice.

Question 11

Consumers benefit in dealing with retail corporate chains because

Accepted Answer

A) corporate chains have more experience than other forms of retailers. 
B) they can own stock in the same company where they shop since corporate chain stock must be publicly traded. 
C) they can establish a credit history more easily than with other forms of retailers. 
D) there are multiple outlets with similar merchandise and consistent management policies. 
E) they have less stress in making decisions since merchandise is arranged and displayed by professional designers. 
A) corporate chains have more experience than other forms of retailers. 
B) they can own stock in the same company where they shop since corporate chain stock must be publicly traded. 
C) they can establish a credit history more easily than with other forms of retailers. 
D) there are multiple outlets with similar merchandise and consistent management policies. 
E) they have less stress in making decisions since merchandise is arranged and displayed by professional designers.

Question 12

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

Accepted Answer

A) the markdown percentage 
B) inventory carrying costs 
C) the return on sales 
D) the gross margin 
E) the sales per employee 
A) the markdown percentage 
B) inventory carrying costs 
C) the return on sales 
D) the gross margin 
E) the sales per employee

Question 13

Name the four utilities offered by retailers and identify a retailer that provides that utility.

Accepted Answer

The four utilities retailing offers are

Question 14

Explain the global impact of retailing.

Accepted Answer

Retailing is important to the United Sta

Question 15

Stores that carry a broad product line,with limited depth,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 16

Wholesalers that take title to merchandise but sell only to buyers that call on them,pay for and move/take away the merchandise themselves are referred to as

Accepted Answer

A) rack jobbers. 
B) truck jobbers. 
C) transport vendors. 
D) cash and carry wholesalers. 
E) drop shippers. 
A) rack jobbers. 
B) truck jobbers. 
C) transport vendors. 
D) cash and carry wholesalers. 
E) drop shippers.

Question 17

________ exists if multiple retail channels become complementary throughout the many touch points with consumers.

Accepted Answer

A) Multiretail marketing 
B) Shopper marketing 
C) Omnichannel retailing 
D) Retail positioning 
E) The wheel of retailing 
A) Multiretail marketing 
B) Shopper marketing 
C) Omnichannel retailing 
D) Retail positioning 
E) The wheel of retailing

Question 18

A maintained markup is

Accepted Answer

A) the difference between the final selling price and the retailer's cost. 
B) the initial selling price minus the amount paid by the retailer. 
C) the amount the manufacturer adds to achieve the desired suggested retail price. 
D) the net margin. 
E) the highest price listed for the product. 
A) the difference between the final selling price and the retailer's cost. 
B) the initial selling price minus the amount paid by the retailer. 
C) the amount the manufacturer adds to achieve the desired suggested retail price. 
D) the net margin. 
E) the highest price listed for the product.

Question 19

The term bricks and clicks refers to ________ and ________,respectively.

Accepted Answer

A) catalogs;websites 
B) search engines;websites 
C) traditional retailers;online retailers 
D) buildings;shoppers 
E) computer novice buyers;computer savvy buyers 
A) catalogs;websites 
B) search engines;websites 
C) traditional retailers;online retailers 
D) buildings;shoppers 
E) computer novice buyers;computer savvy buyers

Question 20

Off-price retailing refers to the

Accepted Answer

A) differences between the final selling price and the retailer's cost. 
B) sale of brand name merchandise at lower than regular prices. 
C) sale of merchandise at maintained markups. 
D) amount added by the manufacturer to achieve the desired suggested retail price. 
E) reduction in retail price usually expressed as the gross margin. 
A) differences between the final selling price and the retailer's cost. 
B) sale of brand name merchandise at lower than regular prices. 
C) sale of merchandise at maintained markups. 
D) amount added by the manufacturer to achieve the desired suggested retail price. 
E) reduction in retail price usually expressed as the gross margin.

Exam 16: Retailing and Wholesaling

An IKEA mail order catalog is an example of ________ retailing.

Ford dealerships represent which type of franchise?

A store chain is looking for a wholesaler to furnish its health and beauty display shelves,perform all channel functions,and sell to it on consignment.Which of the following would be the wisest wholesaler choice for its requirements?

Intangibles,such as a sense of belonging,excitement,style,or warmth,are considered to be ________ of a store's image.

Which of the following is an example of nonstore retailing?

A common financial indicator of how effectively retail space is used to generate revenue can be calculated by determining

Wholesalers that own the merchandise they sell but do not physically handle,stock,or deliver it are referred to as

Figure 16-8 -Which of the following retailers would best fit in quadrant C shown in the retail positioning matrix,Figure 16-8 above?

The four utilities offered to consumers through retailing are

Consumers benefit in dealing with retail corporate chains because

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

Name the four utilities offered by retailers and identify a retailer that provides that utility.

Explain the global impact of retailing.

Stores that carry a broad product line,with limited depth,are referred to as

Wholesalers that take title to merchandise but sell only to buyers that call on them,pay for and move/take away the merchandise themselves are referred to as

________ exists if multiple retail channels become complementary throughout the many touch points with consumers.

A maintained markup is

The term bricks and clicks refers to ________ and ________,respectively.

Off-price retailing refers to the

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

The term bricks and clicks refers to and ,respectively.