Question 1

Lifestyle centres are targeted to affluent, professional individuals who have little time for shopping.

Accepted Answer

A) True 
 B)False

Question 2

What is scrambled merchandising?

Accepted Answer

A)  increasing the number of dissimilar product lines 
B)  offering a mixed set of retail price levels 
C)  offering a variety of alternative methods of payment 
D)  providing mixed hours of operation at different outlets 
A)  increasing the number of dissimilar product lines 
B)  offering a mixed set of retail price levels 
C)  offering a variety of alternative methods of payment 
D)  providing mixed hours of operation at different outlets

Question 3

Markup is the amount a retailer adds to the product's cost to determine the net profit rate to be earned when it is sold.

Accepted Answer

A) True 
 B)False

Question 4

An electronics store advertises a laptop computer for a discounted price.The manager notices that a salesperson has sold only the higher-end model.When asked about it, the salesperson responds he believes that the advertised laptop is not as good a value as the higher-end unit.The salesperson is selling up and, by sincerely meeting the needs of the customers, is also building loyalty for the store.

Accepted Answer

A) True 
 B)False

Question 5

A specialty store handles only part of a single product line; however, it offers consumers increased depth and variety.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is an example of nonstore retailing?

Accepted Answer

A)  self-service retailing 
B)  e-tailing 
C)  catalogue showrooms 
D)  mass merchandising 
A)  self-service retailing 
B)  e-tailing 
C)  catalogue showrooms 
D)  mass merchandising

Question 7

What is a mail-order wholesaler?

Accepted Answer

A)  a limited-function merchant wholesaler that distributes catalogues instead of sending sales representatives to contact customers 
B)  an agent that exerts full authority over pricing decisions and promotional outlays, and even provides financial assistance for the manufacturer 
C)  a limited-function merchant wholesaler that performs most wholesaling functions via the Internet 
D)  a limited-function wholesaler that accepts orders from customers and forwards these to manufacturers that ship the products direct to the customer 
A)  a limited-function merchant wholesaler that distributes catalogues instead of sending sales representatives to contact customers 
B)  an agent that exerts full authority over pricing decisions and promotional outlays, and even provides financial assistance for the manufacturer 
C)  a limited-function merchant wholesaler that performs most wholesaling functions via the Internet 
D)  a limited-function wholesaler that accepts orders from customers and forwards these to manufacturers that ship the products direct to the customer

Question 8

Identify and describe four types of limited-function merchant wholesalers.

Accepted Answer

a Cash-and-carry wholesalers perform mos

Question 9

The customer-service strategy is used by retailers to secure the loyalty of shoppers to retail outlets; it is ineffective, however, in building demand for products.

Accepted Answer

A) True 
 B)False

Question 10

A power centre brings together several huge specialty stores like Canadian Tire, Michaels, or Pier 1 Imports as stand-alone stores in a single trading area.

Accepted Answer

A) True 
 B)False

Question 11

What type of stores, facing high operating costs, have fought back against increasing competition by closing certain departments and becoming more decentralized?

Accepted Answer

A)  extended supermarkets 
B)  catalogue retailers 
C)  hypermarkets 
D)  department stores 
A)  extended supermarkets 
B)  catalogue retailers 
C)  hypermarkets 
D)  department stores

Question 12

Location is a major determining factor in the success or failure of a retail business.

Accepted Answer

A) True 
 B)False

Question 13

Off-price retailers, such as Winners and Designer Depot, are another version of mass merchandisers that stock only designer labels or brand-name clothing at low prices.

Accepted Answer

A) True 
 B)False

Question 14

A retailer's image is determined by the perception the consumer has of its stores and the shopping experience that the stores provide.

Accepted Answer

A) True 
 B)False

Question 15

What are the wholesale intermediaries that deliver Frito-Lay snack products to stores called?

Accepted Answer

A)  retail specialists 
B)  rack jobbers 
C)  truck wholesalers 
D)  cash-and-carry wholesalers 
A)  retail specialists 
B)  rack jobbers 
C)  truck wholesalers 
D)  cash-and-carry wholesalers

Question 16

Who is the wholesaling intermediary that operates on a one-time basis for either sellers or buyers of such products as real estate, frozen foods, and used machinery?

Accepted Answer

A)  the selling agent 
B)  the broker 
C)  the auction house 
D)  the drop shipper 
A)  the selling agent 
B)  the broker 
C)  the auction house 
D)  the drop shipper

Question 17

What is direct-response retailing called that runs promotions on TV networks to sell merchandise through telephone orders?

Accepted Answer

A)  automatic selling 
B)  computerized selling 
C)  home shopping 
D)  out-of-home selling 
A)  automatic selling 
B)  computerized selling 
C)  home shopping 
D)  out-of-home selling

Question 18

The easiest method of classifying retail stores is by product category.

Accepted Answer

A) True 
 B)False

Question 19

What is the purpose of a merchandise mart?

Accepted Answer

A)  to provide space for permanent showrooms and exhibits, which manufacturers rent to market their goods 
B)  to gather buyers and sellers in one location and allow potential buyers to inspect merchandise before submitting competitive purchase offers 
C)  to accept orders from customers and forward those orders to manufacturers that ship the goods directly to the customers 
D)  to distribute physical or online catalogues to retail, business, and institutional customers 
A)  to provide space for permanent showrooms and exhibits, which manufacturers rent to market their goods 
B)  to gather buyers and sellers in one location and allow potential buyers to inspect merchandise before submitting competitive purchase offers 
C)  to accept orders from customers and forward those orders to manufacturers that ship the goods directly to the customers 
D)  to distribute physical or online catalogues to retail, business, and institutional customers

Question 20

The effects of retail promotion are extremely short lived and, therefore, are NOT used to build loyalty.

Accepted Answer

A) True 
 B)False

Lifestyle centres are targeted to affluent, professional individuals who have little time for shopping.

What is scrambled merchandising?

Markup is the amount a retailer adds to the product's cost to determine the net profit rate to be earned when it is sold.

A specialty store handles only part of a single product line; however, it offers consumers increased depth and variety.

Which of the following is an example of nonstore retailing?

What is a mail-order wholesaler?

Identify and describe four types of limited-function merchant wholesalers.

The customer-service strategy is used by retailers to secure the loyalty of shoppers to retail outlets; it is ineffective, however, in building demand for products.

A power centre brings together several huge specialty stores like Canadian Tire, Michaels, or Pier 1 Imports as stand-alone stores in a single trading area.

What type of stores, facing high operating costs, have fought back against increasing competition by closing certain departments and becoming more decentralized?

Location is a major determining factor in the success or failure of a retail business.

Off-price retailers, such as Winners and Designer Depot, are another version of mass merchandisers that stock only designer labels or brand-name clothing at low prices.

A retailer's image is determined by the perception the consumer has of its stores and the shopping experience that the stores provide.

What are the wholesale intermediaries that deliver Frito-Lay snack products to stores called?

Who is the wholesaling intermediary that operates on a one-time basis for either sellers or buyers of such products as real estate, frozen foods, and used machinery?

What is direct-response retailing called that runs promotions on TV networks to sell merchandise through telephone orders?

The easiest method of classifying retail stores is by product category.

What is the purpose of a merchandise mart?

The effects of retail promotion are extremely short lived and, therefore, are NOT used to build loyalty.

Marketing: The Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Consumer Behaviour

Business-to-Business (B2B) Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Market Segmentation, Targeting, and Positioning

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Integrated Marketing Communications

Advertising and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

TB Boone 3Ce final

Filters

Exam 12: Retailers Wholesalers and Direct Marketers

Lifestyle centres are targeted to affluent, professional individuals who have little time for shopping.

What is scrambled merchandising?

Markup is the amount a retailer adds to the product's cost to determine the net profit rate to be earned when it is sold.

A specialty store handles only part of a single product line; however, it offers consumers increased depth and variety.

Which of the following is an example of nonstore retailing?

What is a mail-order wholesaler?

Identify and describe four types of limited-function merchant wholesalers.

The customer-service strategy is used by retailers to secure the loyalty of shoppers to retail outlets; it is ineffective, however, in building demand for products.

A power centre brings together several huge specialty stores like Canadian Tire, Michaels, or Pier 1 Imports as stand-alone stores in a single trading area.

What type of stores, facing high operating costs, have fought back against increasing competition by closing certain departments and becoming more decentralized?

Location is a major determining factor in the success or failure of a retail business.

Off-price retailers, such as Winners and Designer Depot, are another version of mass merchandisers that stock only designer labels or brand-name clothing at low prices.

A retailer's image is determined by the perception the consumer has of its stores and the shopping experience that the stores provide.

What are the wholesale intermediaries that deliver Frito-Lay snack products to stores called?

Who is the wholesaling intermediary that operates on a one-time basis for either sellers or buyers of such products as real estate, frozen foods, and used machinery?

What is direct-response retailing called that runs promotions on TV networks to sell merchandise through telephone orders?

The easiest method of classifying retail stores is by product category.

What is the purpose of a merchandise mart?

The effects of retail promotion are extremely short lived and, therefore, are NOT used to build loyalty.

Marketing: The Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Consumer Behaviour

Business-to-Business (B2B) Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Market Segmentation, Targeting, and Positioning

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Integrated Marketing Communications

Advertising and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

TB Boone 3Ce final

Filters