Question 1

The distinctions between the types of retailers and the merchandise they offer are getting blurred because of:

Accepted Answer

A)  direct selling. 
B)  mass merchandising. 
C)  retail convergence. 
D)  home selling. 
A)  direct selling. 
B)  mass merchandising. 
C)  retail convergence. 
D)  home selling.

Question 2

A(n)_____ is an agent wholesaling intermediary whose primary function is to bring together buyers and sellers.

Accepted Answer

A) stock-keeping unit (SKU) 
B) markup 
C) markdown 
D) retail convergence 
E) scrambled merchandising
F)atmospherics
G)broker
H)general merchandise retailer
I)category killer
J)rack jobber
K)supercenter
L)auction house
M)specialty store
N)retailers
O)mass merchandiser
P)truck jobber
Q)direct marketing
R)drop shipper
S)planned shopping center
T)wheel of retailing 
A) stock-keeping unit (SKU) 
B) markup 
C) markdown 
D) retail convergence 
E) scrambled merchandising
F)atmospherics
G)broker
H)general merchandise retailer
I)category killer
J)rack jobber
K)supercenter
L)auction house
M)specialty store
N)retailers
O)mass merchandiser
P)truck jobber
Q)direct marketing
R)drop shipper
S)planned shopping center
T)wheel of retailing

Question 3

A manufacturer's representative can work only for a single manufacturer.

Accepted Answer

A) True 
 B)False

Question 4

Agents and brokers perform wholesaling activities without taking title to the goods.

Accepted Answer

A) True 
 B)False

Question 5

Wholesaling intermediaries create place utility by:

Accepted Answer

A)  extending credit to product manufacturers. 
B)  helping deliver goods and services for purchase at convenient locations. 
C)  providing a sales force to call upon potential suppliers. 
D)  offering a round-the-clock customer helpline. 
A)  extending credit to product manufacturers. 
B)  helping deliver goods and services for purchase at convenient locations. 
C)  providing a sales force to call upon potential suppliers. 
D)  offering a round-the-clock customer helpline.

Question 6

A _____ is usually located near a regional or superregional mall,and brings together several huge specialty stores as standalone stores in a single trading area.

Accepted Answer

A)  lifestyle center 
B)  power center 
C)  community shopping center 
D)  regional shopping center 
A)  lifestyle center 
B)  power center 
C)  community shopping center 
D)  regional shopping center

Question 7

Specialty retailers typically attract customers by offering the products at the lowest possible prices.

Accepted Answer

A) True 
 B)False

Question 8

Telemarketing is the most frequently used form of direct marketing and provides high returns to the marketers on their expenditures.

Accepted Answer

A) True 
 B)False

Question 9

Direct-response retailing that runs promotions on cable TV networks to sell merchandise through telephone orders is called:

Accepted Answer

A)  personal selling. 
B)  telemarketing. 
C)  home shopping. 
D)  automatic merchandising. 
A)  personal selling. 
B)  telemarketing. 
C)  home shopping. 
D)  automatic merchandising.

Question 10

Internet retailing,vending machines,and telemarketing are examples of _____.

Accepted Answer

A) stock-keeping unit (SKU) 
B) markup 
C) markdown 
D) retail convergence 
E) scrambled merchandising
F)atmospherics
G)broker
H)general merchandise retailer
I)category killer
J)rack jobber
K)supercenter
L)auction house
M)specialty store
N)retailers
O)mass merchandiser
P)truck jobber
Q)direct marketing
R)drop shipper
S)planned shopping center
T)wheel of retailing 
A) stock-keeping unit (SKU) 
B) markup 
C) markdown 
D) retail convergence 
E) scrambled merchandising
F)atmospherics
G)broker
H)general merchandise retailer
I)category killer
J)rack jobber
K)supercenter
L)auction house
M)specialty store
N)retailers
O)mass merchandiser
P)truck jobber
Q)direct marketing
R)drop shipper
S)planned shopping center
T)wheel of retailing

Question 11

When buyers refuse to pay a product's stated price or when improvements in other items or fashion changes reduce the appeal of the current merchandise,a retailer must take a _____.

Accepted Answer

A)  slotting allowance 
B)  switching fee 
C)  rebate 
D)  markdown 
A)  slotting allowance 
B)  switching fee 
C)  rebate 
D)  markdown

Question 12

Internet-based retailers usually maintain little or no inventory and order directly from vendors to fill customer orders received via their websites.

Accepted Answer

A) True 
 B)False

Question 13

The level of competition for business in the market is an important criteria considered by retailers while selecting the target market.

Accepted Answer

A) True 
 B)False

Question 14

What are the different services provided by wholesaling intermediaries?

Accepted Answer

Wholesaling intermediaries provide a wid

Question 15

Wholesaling intermediaries are specialists in production or manufacturing functions.

Accepted Answer

A) True 
 B)False

Question 16

In the United States,cash-and-carry operations typically function as departments within regular full-service wholesale operations.

Accepted Answer

A) True 
 B)False

Question 17

The basic distinction between a company's sales branches and its sales offices is that:

Accepted Answer

A)  sales branches carry inventory whereas sales offices do not. 
B)  sales branches are manufacturer-owned, whereas sales offices are not. 
C)  sales branches are always national, whereas sales offices are always local. 
D)  sales branches are used only for services, whereas sales offices are used only for physical goods. 
A)  sales branches carry inventory whereas sales offices do not. 
B)  sales branches are manufacturer-owned, whereas sales offices are not. 
C)  sales branches are always national, whereas sales offices are always local. 
D)  sales branches are used only for services, whereas sales offices are used only for physical goods.

Question 18

Chain stores usually obtain merchandise at lower prices from manufacturers compared to their independent rivals.

Accepted Answer

A) True 
 B)False

Question 19

A(n)_____ typically handles only part of a single product line.

Accepted Answer

A) stock-keeping unit (SKU) 
B) markup 
C) markdown 
D) retail convergence 
E) scrambled merchandising
F)atmospherics
G)broker
H)general merchandise retailer
I)category killer
J)rack jobber
K)supercenter
L)auction house
M)specialty store
N)retailers
O)mass merchandiser
P)truck jobber
Q)direct marketing
R)drop shipper
S)planned shopping center
T)wheel of retailing 
A) stock-keeping unit (SKU) 
B) markup 
C) markdown 
D) retail convergence 
E) scrambled merchandising
F)atmospherics
G)broker
H)general merchandise retailer
I)category killer
J)rack jobber
K)supercenter
L)auction house
M)specialty store
N)retailers
O)mass merchandiser
P)truck jobber
Q)direct marketing
R)drop shipper
S)planned shopping center
T)wheel of retailing

Question 20

A _____ wholesaler performs most wholesaling functions except for financing and delivery.

Accepted Answer

A)  commission 
B)  clearing 
C)  brokering 
D)  cash-and-carry 
A)  commission 
B)  clearing 
C)  brokering 
D)  cash-and-carry

Exam 15: Retailers, Wholesalers, and Direct Marketers

The distinctions between the types of retailers and the merchandise they offer are getting blurred because of:

A(n)_____ is an agent wholesaling intermediary whose primary function is to bring together buyers and sellers.

A manufacturer's representative can work only for a single manufacturer.

Agents and brokers perform wholesaling activities without taking title to the goods.

Wholesaling intermediaries create place utility by:

A _____ is usually located near a regional or superregional mall,and brings together several huge specialty stores as standalone stores in a single trading area.

Specialty retailers typically attract customers by offering the products at the lowest possible prices.

Telemarketing is the most frequently used form of direct marketing and provides high returns to the marketers on their expenditures.

Direct-response retailing that runs promotions on cable TV networks to sell merchandise through telephone orders is called:

Internet retailing,vending machines,and telemarketing are examples of _____.

When buyers refuse to pay a product's stated price or when improvements in other items or fashion changes reduce the appeal of the current merchandise,a retailer must take a _____.

Internet-based retailers usually maintain little or no inventory and order directly from vendors to fill customer orders received via their websites.

The level of competition for business in the market is an important criteria considered by retailers while selecting the target market.

What are the different services provided by wholesaling intermediaries?

Wholesaling intermediaries are specialists in production or manufacturing functions.

In the United States,cash-and-carry operations typically function as departments within regular full-service wholesale operations.

The basic distinction between a company's sales branches and its sales offices is that:

Chain stores usually obtain merchandise at lower prices from manufacturers compared to their independent rivals.

A(n)_____ typically handles only part of a single product line.

A _____ wholesaler performs most wholesaling functions except for financing and delivery.

Marketing: The Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-to-Business (B2B)Marketing

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research and Sales Forecasting

Relationship Marketing and Customer Relationship Management (CRM)

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Integrated Marketing Communications, Advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Your Career in Marketing

Developing an Effective Marketing Plan

Financial Analysis in Marketing

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