Question 1

Discuss the pricing strategies used by retailers to attract consumers.

Accepted Answer

Prices reflect a retailer's marketing ob

Question 2

O&S Ticket Brokers,a Broadway theater ticket agency,sells tickets in bulk to corporate companies.It would be considered a wholesaling intermediary even though the firm does not take title to the tickets it sells.

Accepted Answer

A) True 
 B)False

Question 3

A retailer that offers a large assortment within a single product line or within a few related product lines is known as a(n):

Accepted Answer

A)  limited-line store. 
B)  industrial distributor. 
C)  specific-line store. 
D)  rack jobber. 
A)  limited-line store. 
B)  industrial distributor. 
C)  specific-line store. 
D)  rack jobber.

Question 4

Reminding a customer that the flashlight they just purchased requires batteries (which are available for sale)would be an example of:

Accepted Answer

A)  cross selling. 
B)  bait-and-switch selling. 
C)  selling up. 
D)  suggestion selling. 
A)  cross selling. 
B)  bait-and-switch selling. 
C)  selling up. 
D)  suggestion selling.

Question 5

Limited-line retailers cater to the needs of people who want to select from complete lines in purchasing particular products.

Accepted Answer

A) True 
 B)False

Question 6

The wheel of retailing attempts to explain the patterns of change in retailing.

Accepted Answer

A) True 
 B)False

Question 7

Markup can be expressed as a percentage of the total cost of the product or the selling price.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following terms refers to the amount by which a retailer reduces the original selling price of a product?

Accepted Answer

A)  Depreciation 
B)  Switching cost 
C)  Underwriting 
D)  Markdown 
A)  Depreciation 
B)  Switching cost 
C)  Underwriting 
D)  Markdown

Question 9

Other things being equal,stores that offer more services charge smaller markups to cover their costs.

Accepted Answer

A) True 
 B)False

Question 10

Cooperatives help independent retailers to compete with chains by providing volume buying power.

Accepted Answer

A) True 
 B)False

Question 11

What are the different types of planned shopping centers?

Accepted Answer

There are five main types of planned sho

Question 12

Full-function merchant wholesalers include:

Accepted Answer

A)  sales branches and mail-order wholesalers. 
B)  industrial distributors and rack jobbers. 
C)  truck jobbers and drop shippers. 
D)  cash-and-carry wholesalers and auction houses. 
A)  sales branches and mail-order wholesalers. 
B)  industrial distributors and rack jobbers. 
C)  truck jobbers and drop shippers. 
D)  cash-and-carry wholesalers and auction houses.

Question 13

A cash-and-carry wholesaler performs most wholesaling functions including financing and delivery.

Accepted Answer

A) True 
 B)False

Question 14

Possession utility can occur even if the actual title is not transferred,as in the case of:

Accepted Answer

A)  vending machine transactions. 
B)  beauty salon services. 
C)  car rentals. 
D)  college education. 
A)  vending machine transactions. 
B)  beauty salon services. 
C)  car rentals. 
D)  college education.

Question 15

The strategy of category management is used by retailers to:

Accepted Answer

A)  seek pricing and promotional concessions from manufacturers as conditions for selling their products. 
B)  improve their product group performance through coordinated buying, merchandising, and pricing. 
C)  attract consumers by making shopping easier, faster, and enjoyable. 
D)  decrease its rate of inventory turnover. 
A)  seek pricing and promotional concessions from manufacturers as conditions for selling their products. 
B)  improve their product group performance through coordinated buying, merchandising, and pricing. 
C)  attract consumers by making shopping easier, faster, and enjoyable. 
D)  decrease its rate of inventory turnover.

Question 16

Marc is a wholesaling intermediary who brings buyers and sellers together,sometimes representing buyers and sometimes representing sellers,but never both in the same transaction.This information indicates that Marc is a commission merchant.

Accepted Answer

A) True 
 B)False

Question 17

Discuss the wheel of retailing concept.

Accepted Answer

The wheel of retailing is a key concept

Question 18

The retail stores in a planned shopping center maintain uniform hours of operation,including evening and weekend hours.

Accepted Answer

A) True 
 B)False

Question 19

A(n)_____ is a group of retail stores designed,coordinated,and marketed to shoppers in a geographic trade area.

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

In a(n)_____,inventory changes frequently as customers take advantage of special price offers from manufacturers selling excess merchandise.

Accepted Answer

A)  lifestyle center 
B)  off-price retail store 
C)  full-service distribution center 
D)  merchandise mart 
A)  lifestyle center 
B)  off-price retail store 
C)  full-service distribution center 
D)  merchandise mart

Exam 15: Retailers, Wholesalers, and Direct Marketers

Discuss the pricing strategies used by retailers to attract consumers.

O&S Ticket Brokers,a Broadway theater ticket agency,sells tickets in bulk to corporate companies.It would be considered a wholesaling intermediary even though the firm does not take title to the tickets it sells.

A retailer that offers a large assortment within a single product line or within a few related product lines is known as a(n):

Reminding a customer that the flashlight they just purchased requires batteries (which are available for sale)would be an example of:

Limited-line retailers cater to the needs of people who want to select from complete lines in purchasing particular products.

The wheel of retailing attempts to explain the patterns of change in retailing.

Markup can be expressed as a percentage of the total cost of the product or the selling price.

Which of the following terms refers to the amount by which a retailer reduces the original selling price of a product?

Other things being equal,stores that offer more services charge smaller markups to cover their costs.

Cooperatives help independent retailers to compete with chains by providing volume buying power.

What are the different types of planned shopping centers?

Full-function merchant wholesalers include:

A cash-and-carry wholesaler performs most wholesaling functions including financing and delivery.

Possession utility can occur even if the actual title is not transferred,as in the case of:

The strategy of category management is used by retailers to:

Marc is a wholesaling intermediary who brings buyers and sellers together,sometimes representing buyers and sometimes representing sellers,but never both in the same transaction.This information indicates that Marc is a commission merchant.

Discuss the wheel of retailing concept.

The retail stores in a planned shopping center maintain uniform hours of operation,including evening and weekend hours.

A(n)_____ is a group of retail stores designed,coordinated,and marketed to shoppers in a geographic trade area.

In a(n)_____,inventory changes frequently as customers take advantage of special price offers from manufacturers selling excess merchandise.

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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