Question 1

A retail establishment that carries a wide variety of product lines,stocking all of them in some depth is referred to as a _____.

Accepted Answer

A)  rack jobber 
B)  category killer 
C)  specialty store 
D)  general merchandise retailer 
A)  rack jobber 
B)  category killer 
C)  specialty store 
D)  general merchandise retailer

Question 2

A(n)_____ carries a wide variety of product lines,stocking all of them in some depth.

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 retailer starts to define its marketing strategy by selecting its inventory management strategy.

Accepted Answer

A) True 
 B)False

Question 4

What is Internet retailing? How has the Internet enhanced the functions of the direct marketers?

Accepted Answer

Internet-based retailers sell directly t

Question 5

Customers who cannot afford to pay cash for purchases made directly from the manufacturer can buy those products from a wholesale intermediary who grants them credit for the purchase.Which of the following marketing functions is being performed by the wholesaler in this situation by granting credit?

Accepted Answer

A)  Production 
B)  Transporting 
C)  Risk taking 
D)  Financing 
A)  Production 
B)  Transporting 
C)  Risk taking 
D)  Financing

Question 6

A neighborhood shopping center consists of large stores featuring shopping goods,professional offices,a branch bank,and also a movie theatre or a supermarket.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is a form of marketing that manufacturers use to completely bypass wholesalers and retailers?

Accepted Answer

A)  Mass merchandising 
B)  Direct selling 
C)  Mass marketing 
D)  Scrambled merchandising 
A)  Mass merchandising 
B)  Direct selling 
C)  Mass marketing 
D)  Scrambled merchandising

Question 8

The importance of selling agents in many markets has declined because:

Accepted Answer

A)  many firms are increasingly turning to financial institutions for financial assistance. 
B)  manufacturers want better control of their marketing programs than selling agents allow. 
C)  profit margins for selling agents have been steadily eroding in perishable foods and processing industries. 
D)  manufacturers prefer to contract out exclusive rights to market a product while selling agents operate in specific territories. 
A)  many firms are increasingly turning to financial institutions for financial assistance. 
B)  manufacturers want better control of their marketing programs than selling agents allow. 
C)  profit margins for selling agents have been steadily eroding in perishable foods and processing industries. 
D)  manufacturers prefer to contract out exclusive rights to market a product while selling agents operate in specific territories.

Question 9

Wholesaling intermediaries help producers in transporting by:

Accepted Answer

A)  reporting on competitors' activities and industry trends. 
B)  purchasing in economical truck load lots and then reselling in smaller quantities. 
C)  offering research inputs through regular contacts with retail and business buyers. 
D)  reducing their inventory turnover rates. 
A)  reporting on competitors' activities and industry trends. 
B)  purchasing in economical truck load lots and then reselling in smaller quantities. 
C)  offering research inputs through regular contacts with retail and business buyers. 
D)  reducing their inventory turnover rates.

Question 10

The concept of the wheel of retailing attempts to explain:

Accepted Answer

A)  the process by which retailers decide the amount and types of products to be sold in the retail stores. 
B)  the chain of distribution that is followed by a product before it reaches a retail store. 
C)  the process by which prices are set in retailing. 
D)  the patterns of change in retailing. 
A)  the process by which retailers decide the amount and types of products to be sold in the retail stores. 
B)  the chain of distribution that is followed by a product before it reaches a retail store. 
C)  the process by which prices are set in retailing. 
D)  the patterns of change in retailing.

Question 11

Most of the specialty stores are chain outlets with large scale operations.

Accepted Answer

A) True 
 B)False

Question 12

A store's exterior appearance,including architectural design,window displays,signs,and entryways:

Accepted Answer

A)  exerts no influence on the retailer's image. 
B)  exerts a major influence on the pricing of the goods sold by the store. 
C)  helps identify the retailer and attract its target market. 
D)  indicates the range and assortment of product lines it offers. 
A)  exerts no influence on the retailer's image. 
B)  exerts a major influence on the pricing of the goods sold by the store. 
C)  helps identify the retailer and attract its target market. 
D)  indicates the range and assortment of product lines it offers.

Question 13

A full-service retailer usually sells convenience products that people can purchase without any assistance.

Accepted Answer

A) True 
 B)False

Question 14

Retail convergence results in blurring of distinctions between types of retailers and the merchandise mix they offer.

Accepted Answer

A) True 
 B)False

Question 15

A trade fair is a periodic show at which manufacturers in a particular industry display their wares for visiting retail and wholesale buyers.

Accepted Answer

A) True 
 B)False

Question 16

General merchandise retailers distinguish themselves from specialty and limited-line retailers by the large number of product lines they carry.

Accepted Answer

A) True 
 B)False

Question 17

The main factors involved in determining a product's markup are the inventory turnover rate and the services performed by the retailer.

Accepted Answer

A) True 
 B)False

Question 18

Rising in popularity during the 1990s,power centers offered value because they underpriced department stores while providing a huge selection of specialty merchandise.

Accepted Answer

A) True 
 B)False

Question 19

Both vendors and retailers use the strategy of category management.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following wholesaling intermediaries carries inventory?

Accepted Answer

A)  A commission merchant 
B)  A broker 
C)  A manufacturer's agent 
D)  A selling agent 
A)  A commission merchant 
B)  A broker 
C)  A manufacturer's agent 
D)  A selling agent

Exam 15: Retailers, Wholesalers, and Direct Marketers

A retail establishment that carries a wide variety of product lines,stocking all of them in some depth is referred to as a _____.

A(n)_____ carries a wide variety of product lines,stocking all of them in some depth.

A retailer starts to define its marketing strategy by selecting its inventory management strategy.

What is Internet retailing? How has the Internet enhanced the functions of the direct marketers?

A neighborhood shopping center consists of large stores featuring shopping goods,professional offices,a branch bank,and also a movie theatre or a supermarket.

Which of the following is a form of marketing that manufacturers use to completely bypass wholesalers and retailers?

The importance of selling agents in many markets has declined because:

Wholesaling intermediaries help producers in transporting by:

The concept of the wheel of retailing attempts to explain:

Most of the specialty stores are chain outlets with large scale operations.

A store's exterior appearance,including architectural design,window displays,signs,and entryways:

A full-service retailer usually sells convenience products that people can purchase without any assistance.

Retail convergence results in blurring of distinctions between types of retailers and the merchandise mix they offer.

A trade fair is a periodic show at which manufacturers in a particular industry display their wares for visiting retail and wholesale buyers.

General merchandise retailers distinguish themselves from specialty and limited-line retailers by the large number of product lines they carry.

The main factors involved in determining a product's markup are the inventory turnover rate and the services performed by the retailer.

Rising in popularity during the 1990s,power centers offered value because they underpriced department stores while providing a huge selection of specialty merchandise.

Both vendors and retailers use the strategy of category management.

Which of the following wholesaling intermediaries carries inventory?

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

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Your Career in Marketing

Developing an Effective Marketing Plan

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