Question 1

_____ is the amount by which a retailer reduces the original selling price of a product.

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 2

Explain how store atmospherics help retailers to attract customers.

Accepted Answer

Retail stores project their personalitie

Question 3

In essence,a department store is a series of limited-line and specialty stores under one roof.

Accepted Answer

A) True 
 B)False

Question 4

_____ is a hypothesis that attempts to explain the patterns of change in retailing.

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 5

_____ represent nonrefundable fees grocery retailers receive from manufacturers to secure shelf space for new products.

Accepted Answer

A)  Switching costs 
B)  Franchise fees 
C)  Carrying costs 
D)  Slotting allowances 
A)  Switching costs 
B)  Franchise fees 
C)  Carrying costs 
D)  Slotting allowances

Question 6

Retailers,when classified on the basis of form of ownership,are grouped as:

Accepted Answer

A)  wholesalers and service providers. 
B)  convenience, shopping, and specialty retailers. 
C)  chain stores and independent retailers. 
D)  limited-line and general merchandise retailers. 
A)  wholesalers and service providers. 
B)  convenience, shopping, and specialty retailers. 
C)  chain stores and independent retailers. 
D)  limited-line and general merchandise retailers.

Question 7

A(n)_____ gathers buyers and sellers in one location and allows potential buyers to inspect merchandise before submitting competing purchase offers.

Accepted Answer

A)  truck jobber 
B)  auction house 
C)  commission merchant 
D)  selling agent 
A)  truck jobber 
B)  auction house 
C)  commission merchant 
D)  selling agent

Question 8

The term "atmospherics" exclusively refers to the interior décor of a store.

Accepted Answer

A) True 
 B)False

Question 9

A(n)_____ stocks only designer labels or well-known brand name clothing at prices equal to or below regular wholesale prices.

Accepted Answer

A)  discount store 
B)  hypermarket 
C)  supercenter 
D)  off-price retailer 
A)  discount store 
B)  hypermarket 
C)  supercenter 
D)  off-price retailer

Question 10

Wholesaling intermediaries create utility in the form of time,place,and ownership.

Accepted Answer

A) True 
 B)False

Question 11

Category killers are invulnerable to competition because of the huge selections they offer in different product lines.

Accepted Answer

A) True 
 B)False

Question 12

A _____ is a full-function merchant wholesaler that markets specialized lines of merchandise to retail stores.

Accepted Answer

A)  drop shipper 
B)  truck wholesaler 
C)  rack jobber 
D)  commission merchant 
A)  drop shipper 
B)  truck wholesaler 
C)  rack jobber 
D)  commission merchant

Question 13

A discount house offers fewer services to its customers.

Accepted Answer

A) True 
 B)False

Question 14

A department store is a:

Accepted Answer

A)  retail outlet offering huge selections and low prices in a single product line. 
B)  retail store that handles only some part of a single product line. 
C)  retailing format that offers movie theatres and restaurants along with live entertainment in an attractive outdoor environment. 
D)  series of limited-line and specialty stores gathered under one roof. 
A)  retail outlet offering huge selections and low prices in a single product line. 
B)  retail store that handles only some part of a single product line. 
C)  retailing format that offers movie theatres and restaurants along with live entertainment in an attractive outdoor environment. 
D)  series of limited-line and specialty stores gathered under one roof.

Question 15

A selling agent is an ideal marketing channel for weakly financed,production-oriented firms.

Accepted Answer

A) True 
 B)False

Question 16

The strategy of convincing a customer to buy a higher-priced item than he or she had originally intended is called:

Accepted Answer

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

Question 17

Merchant wholesalers are a class of wholesaling intermediaries who do not take title to the goods they handle.

Accepted Answer

A) True 
 B)False

Question 18

When wholesalers transport and stock products in inventory,they accept the possibility of spoilage,theft,or obsolescence.This function performed by the wholesaling intermediary is referred to as _____.

Accepted Answer

A)  selling 
B)  analyzing 
C)  risk taking 
D)  financing 
A)  selling 
B)  analyzing 
C)  risk taking 
D)  financing

Question 19

Which of the following statements is true regarding manufacturer's representatives?

Accepted Answer

A)  They typically work for only one firm. 
B)  They contract for exclusive rights to market a product. 
C)  They are paid on a commission basis. 
D)  They take the title of the products from a manufacturer and then sell these products to customers. 
A)  They typically work for only one firm. 
B)  They contract for exclusive rights to market a product. 
C)  They are paid on a commission basis. 
D)  They take the title of the products from a manufacturer and then sell these products to customers.

Question 20

Salespeople involved in suggestion selling try to help customers recognize true needs rather than unwanted merchandise.

Accepted Answer

A) True 
 B)False

Exam 15: Retailers, Wholesalers, and Direct Marketers

_____ is the amount by which a retailer reduces the original selling price of a product.

Explain how store atmospherics help retailers to attract customers.

In essence,a department store is a series of limited-line and specialty stores under one roof.

_____ is a hypothesis that attempts to explain the patterns of change in retailing.

_____ represent nonrefundable fees grocery retailers receive from manufacturers to secure shelf space for new products.

Retailers,when classified on the basis of form of ownership,are grouped as:

A(n)_____ gathers buyers and sellers in one location and allows potential buyers to inspect merchandise before submitting competing purchase offers.

The term "atmospherics" exclusively refers to the interior décor of a store.

A(n)_____ stocks only designer labels or well-known brand name clothing at prices equal to or below regular wholesale prices.

Wholesaling intermediaries create utility in the form of time,place,and ownership.

Category killers are invulnerable to competition because of the huge selections they offer in different product lines.

A _____ is a full-function merchant wholesaler that markets specialized lines of merchandise to retail stores.

A discount house offers fewer services to its customers.

A department store is a:

A selling agent is an ideal marketing channel for weakly financed,production-oriented firms.

The strategy of convincing a customer to buy a higher-priced item than he or she had originally intended is called:

Merchant wholesalers are a class of wholesaling intermediaries who do not take title to the goods they handle.

When wholesalers transport and stock products in inventory,they accept the possibility of spoilage,theft,or obsolescence.This function performed by the wholesaling intermediary is referred to as _____.

Which of the following statements is true regarding manufacturer's representatives?

Salespeople involved in suggestion selling try to help customers recognize true needs rather than unwanted 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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