Question 1

Coal,lumber,and chemicals,which are sold in extremely large quantities,are traditionally sold by which type of wholesaler?

Accepted Answer

A) cash and carry wholesalers 
B) rack jobbers 
C) truck jobbers 
D) general merchandise wholesalers 
E) drop shippers 
A) cash and carry wholesalers 
B) rack jobbers 
C) truck jobbers 
D) general merchandise wholesalers 
E) drop shippers

Question 2

Walmart's $485 billion in sales in 2016 surpassed the gross domestic product of all but ________ countries for that same year.

Accepted Answer

A) 5 
B) 12 
C) 18 
D) 22 
E) 34 
A) 5 
B) 12 
C) 18 
D) 22 
E) 34

Question 3

Franchising is a type of

Accepted Answer

A) administered system. 
B) contractual system. 
C) vertically integrated chain. 
D) retail-sponsored cooperative. 
E) corporate system. 
A) administered system. 
B) contractual system. 
C) vertically integrated chain. 
D) retail-sponsored cooperative. 
E) corporate system.

Question 4

Godiva Chocolatier invites consumers to stop by one of its stores for an unforgettable experience,including delectable chocolates,decorative gift collections,and unrivaled customer care.What type of retail service is Godiva offering?

Accepted Answer

A) full service 
B) limited service 
C) self-service 
D) restricted service 
E) functional service 
A) full service 
B) limited service 
C) self-service 
D) restricted service 
E) functional service

Question 5

Jane Westerlund owns a small retail picture frame store in a local strip mall.She just bought 10 picture frames from a promising woodworker for $36 each.Based on market conditions,she will sell these for $100 each.Recently,however,sales have been a bit slow.Jane decides to reduce the price for the frames to $80.What is her maintained markup in dollar terms?

Accepted Answer

A) $100 
B) $20 
C) $44 
D) $64 
E) $0 
A) $100 
B) $20 
C) $44 
D) $64 
E) $0

Question 6

Describe the retail life cycle.

Accepted Answer

The retail life cycle describes the proc

Question 7

Figure 16-9
  
-According to Figure 16-9 above,if D represents the entry of new forms of the outlet into categories where older ones exist,where would you typically find the highest prices,margins,and status?

Accepted Answer

A) A 
B) B 
C) C 
D) D 
E) A & D 
A) A 
B) B 
C) C 
D) D 
E) A & D

Question 8

When retailers set prices on new models or styles of products,the price of existing models often is ________ to quickly sell them.

Accepted Answer

A) benchmarked 
B) off-priced 
C) value-added 
D) marked down 
E) maintained 
A) benchmarked 
B) off-priced 
C) value-added 
D) marked down 
E) maintained

Question 9

Impressions of the corporation that operates the store,the category or type of store,the product categories in the store,the brands in each category,merchandise and service quality,and the marketing activities of the store all contribute to a retail store's

Accepted Answer

A) prices. 
B) image. 
C) emotive appeal. 
D) name. 
E) measurable attributes. 
A) prices. 
B) image. 
C) emotive appeal. 
D) name. 
E) measurable attributes.

Question 10

Sales of goods and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as direct selling,or

Accepted Answer

A) person-to-person sales. 
B) interactive selling. 
C) door-to-door retailing. 
D) individual promotion. 
E) customized selling. 
A) person-to-person sales. 
B) interactive selling. 
C) door-to-door retailing. 
D) individual promotion. 
E) customized selling.

Question 11

Selling on consignment to retailers,which means they retain the title to the products displayed and bill retailers only for the merchandise sold,is characteristic of which limited-service wholesaler?

Accepted Answer

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

Question 12

A huge shopping strip with multiple anchor (or national)stores is referred to as a

Accepted Answer

A) central business district. 
B) regional shopping center. 
C) community shopping center. 
D) strip mall. 
E) power center. 
A) central business district. 
B) regional shopping center. 
C) community shopping center. 
D) strip mall. 
E) power center.

Question 13

Merchant wholesalers are independently owned firms that ________ the merchandise they handle.

Accepted Answer

A) take title to 
B) broker 
C) act as agents for 
D) break bulk and repackage 
E) do not deliver 
A) take title to 
B) broker 
C) act as agents for 
D) break bulk and repackage 
E) do not deliver

Question 14

Using the telephone to interact with and sell directly to consumers is referred to as

Accepted Answer

A) digital marketing. 
B) telemarketing. 
C) solicitation marketing. 
D) telecommerce. 
E) direct selling. 
A) digital marketing. 
B) telemarketing. 
C) solicitation marketing. 
D) telecommerce. 
E) direct selling.

Question 15

What is the value of retailing for consumers and the economy?

Accepted Answer

Retailing is an important marketing acti

Question 16

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

Accepted Answer

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

Question 17

The level of service that requires the customers themselves perform many functions during the purchase process is

Accepted Answer

A) full-service. 
B) limited-service. 
C) self-service. 
D) customized-service. 
E) automated-service. 
A) full-service. 
B) limited-service. 
C) self-service. 
D) customized-service. 
E) automated-service.

Question 18

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

Accepted Answer

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

Question 19

Retailing that occurs outside a retail outlet,such as through direct marketing,direct selling,and automatic vending,is referred to as

Accepted Answer

A) limited-line retailing. 
B) nonstore retailing. 
C) scrambled merchandising. 
D) a hypermarket. 
E) intertype competition. 
A) limited-line retailing. 
B) nonstore retailing. 
C) scrambled merchandising. 
D) a hypermarket. 
E) intertype competition.

Question 20

One of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the website

Accepted Answer

A) because of slow download times. 
B) to compare shipping costs and prices on other sites. 
C) because of security fears when entering credit card information. 
D) due to the inability to experience the product in person. 
E) over dissatisfaction with product availability. 
A) because of slow download times. 
B) to compare shipping costs and prices on other sites. 
C) because of security fears when entering credit card information. 
D) due to the inability to experience the product in person. 
E) over dissatisfaction with product availability.

Exam 16: Retailing and Wholesaling

Coal,lumber,and chemicals,which are sold in extremely large quantities,are traditionally sold by which type of wholesaler?

Walmart's $485 billion in sales in 2016 surpassed the gross domestic product of all but ________ countries for that same year.

Franchising is a type of

Godiva Chocolatier invites consumers to stop by one of its stores for an unforgettable experience,including delectable chocolates,decorative gift collections,and unrivaled customer care.What type of retail service is Godiva offering?

Describe the retail life cycle.

Figure 16-9 -According to Figure 16-9 above,if D represents the entry of new forms of the outlet into categories where older ones exist,where would you typically find the highest prices,margins,and status?

When retailers set prices on new models or styles of products,the price of existing models often is ________ to quickly sell them.

Impressions of the corporation that operates the store,the category or type of store,the product categories in the store,the brands in each category,merchandise and service quality,and the marketing activities of the store all contribute to a retail store's

Sales of goods and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as direct selling,or

Selling on consignment to retailers,which means they retain the title to the products displayed and bill retailers only for the merchandise sold,is characteristic of which limited-service wholesaler?

A huge shopping strip with multiple anchor (or national)stores is referred to as a

Merchant wholesalers are independently owned firms that ________ the merchandise they handle.

Using the telephone to interact with and sell directly to consumers is referred to as

What is the value of retailing for consumers and the economy?

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

The level of service that requires the customers themselves perform many functions during the purchase process is

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

Retailing that occurs outside a retail outlet,such as through direct marketing,direct selling,and automatic vending,is referred to as

One of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the website

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

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