Question 1

Scrambled merchandising refers to

Accepted Answer

A) displaying merchandise throughout a store rather than keeping all similar items together in rows on a shelf or point-of-purchase displays. 
B) offering several unrelated product lines in a single store. 
C) changing the position in which items are displayed in a store to create customer interest in a variety of product lines. 
D) offering several related product lines in multiple stores. 
E) offering several related product lines in a single store. 
A) displaying merchandise throughout a store rather than keeping all similar items together in rows on a shelf or point-of-purchase displays. 
B) offering several unrelated product lines in a single store. 
C) changing the position in which items are displayed in a store to create customer interest in a variety of product lines. 
D) offering several related product lines in multiple stores. 
E) offering several related product lines in a single store.

Question 2

Online retail purchases by consumers can be the result of several very different approaches, including (1) using a shopping "bot" to search for a product at locations with the best price, (2) participating in an online auction, (3) going directly to online malls, and (4) __________.

Accepted Answer

A) paying dues to become a member of an online discount service 
B) becoming a secret shopper 
C) participating in a buying cooperative 
D) using direct selling 
E) becoming a member of a research group that evaluates new products 
A) paying dues to become a member of an online discount service 
B) becoming a secret shopper 
C) participating in a buying cooperative 
D) using direct selling 
E) becoming a member of a research group that evaluates new products

Question 3

Drop shippers

Accepted Answer

A) own the merchandise they sell but do not physically handle, stock, or deliver it. 
B) perform all channel functions and sell on consignment to retailers. 
C) take title to merchandise but sell only to buyers that call on them, pay cash for merchandise, and furnish their own transportation for merchandise. 
D) have a small warehouse from which they stock their trucks for distribution to retailers. 
E) work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory. 
A) own the merchandise they sell but do not physically handle, stock, or deliver it. 
B) perform all channel functions and sell on consignment to retailers. 
C) take title to merchandise but sell only to buyers that call on them, pay cash for merchandise, and furnish their own transportation for merchandise. 
D) have a small warehouse from which they stock their trucks for distribution to retailers. 
E) work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.

Question 4

At which level of service would the customer perform the least number of functions?

Accepted Answer

A) automated service 
B) minimal service 
C) self-service 
D) limited service 
E) full service 
A) automated service 
B) minimal service 
C) self-service 
D) limited service 
E) full service

Question 5

The average U.S. household now receives __________ direct-mail items or catalogs each week.

Accepted Answer

A) 18 
B) 24 
C) 34 
D) 39 
E) 29 
A) 18 
B) 24 
C) 34 
D) 39 
E) 29

Question 6

The three commonly used terms to describe levels of service are

Accepted Answer

A) self-service, limited-service, and full-service. 
B) retailer-service, sales-service, and customer-service. 
C) self-service, automated-service, and online-service. 
D) limited-service, full-service, and automated-service. 
E) wholesaler-service, retailer-service, and customer-service. 
A) self-service, limited-service, and full-service. 
B) retailer-service, sales-service, and customer-service. 
C) self-service, automated-service, and online-service. 
D) limited-service, full-service, and automated-service. 
E) wholesaler-service, retailer-service, and customer-service.

Question 7

A form of ownership that involves multiple outlets under common ownership is referred to as

Accepted Answer

A) a corporate chain. 
B) a consumer cooperative. 
C) a contractual system. 
D) an independent retailer. 
E) an administered system. 
A) a corporate chain. 
B) a consumer cooperative. 
C) a contractual system. 
D) an independent retailer. 
E) an administered system.

Question 8

A number of U.S.-based retail chains use special checkout lanes and terminals instead of clerks. This is an example of what level of service?

Accepted Answer

A) full-service 
B) self-service 
C) limited-service 
D) customized-service 
E) functional-service 
A) full-service 
B) self-service 
C) limited-service 
D) customized-service 
E) functional-service

Question 9

An approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category, is referred to as

Accepted Answer

A) category capacity. 
B) product management. 
C) retail inventory category. 
D) category management. 
E) automated inventory control. 
A) category capacity. 
B) product management. 
C) retail inventory category. 
D) category management. 
E) automated inventory control.

Question 10

As a business-format franchisor, McDonald's provides step-by-step procedures for most aspects of the business and

Accepted Answer

A) provides an accounting system to pay the franchisee bills promptly. 
B) shops for the best food values. 
C) maintains the property. 
D) guidelines for the most likely decisions a franchisee will face. 
E) disciplines dishonest employees. 
A) provides an accounting system to pay the franchisee bills promptly. 
B) shops for the best food values. 
C) maintains the property. 
D) guidelines for the most likely decisions a franchisee will face. 
E) disciplines dishonest employees.

Question 11

Another term for maintained markup is

Accepted Answer

A) original markup. 
B) maintained markup. 
C) markdown. 
D) gross margin. 
E) net margin. 
A) original markup. 
B) maintained markup. 
C) markdown. 
D) gross margin. 
E) net margin.

Question 12

Specialty stores and department stores, which provide many services to their customers, are frequently categorized by which level of service?

Accepted Answer

A) full service 
B) exclusive service 
C) minimal service 
D) self-service 
E) limited service 
A) full service 
B) exclusive service 
C) minimal service 
D) self-service 
E) limited service

Question 13

Bakery items, dairy products, and meat that are sold for cash in their original packages are traditionally sold by which type of wholesaler?

Accepted Answer

A) rack jobbers 
B) drop shippers 
C) cash and carry wholesalers 
D) truck jobbers 
E) general merchandise wholesalers 
A) rack jobbers 
B) drop shippers 
C) cash and carry wholesalers 
D) truck jobbers 
E) general merchandise wholesalers

Question 14

Retailing mix refers to the activities related to managing the store and the merchandise in the store, which includes

Accepted Answer

A) product, price, promotion, and place. 
B) the four utilities of time, form, possession, and place. 
C) the colors, sizes, shapes, and perceived value of the store's products. 
D) retail pricing, store location, retail communication, and merchandise. 
E) selection of store location, selection of merchandise, hiring and training of employees, and promotion of both the store and products. 
A) product, price, promotion, and place. 
B) the four utilities of time, form, possession, and place. 
C) the colors, sizes, shapes, and perceived value of the store's products. 
D) retail pricing, store location, retail communication, and merchandise. 
E) selection of store location, selection of merchandise, hiring and training of employees, and promotion of both the store and products.

Question 15

All activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use are referred to as

Accepted Answer

A) manufacturing. 
B) retailing. 
C) wholesaling. 
D) facilitating. 
E) logistics. 
A) manufacturing. 
B) retailing. 
C) wholesaling. 
D) facilitating. 
E) logistics.

Question 16

Growth in the direct-selling industry is the result of two trends-a growing number of companies are using direct selling to reach consumers who prefer one-on-one customer service and a social shopping experience rather than online shopping or big discount stores, and

Accepted Answer

A) many direct-selling retailers are expanding into markets outside of the United States. 
B) increased gas prices and traffic congestion are causing people to want stores to deliver products to them. 
C) the pendulum is beginning to swing back to more mothers (and fathers) staying home during the day with children, making direct selling more convenient. 
D) the purchase or lease of real estate to build an actual "brick" retail store is becoming prohibitive. 
E) graduating business students are finding it more difficult to find a traditional sales position and like the idea of being their own bosses. 
A) many direct-selling retailers are expanding into markets outside of the United States. 
B) increased gas prices and traffic congestion are causing people to want stores to deliver products to them. 
C) the pendulum is beginning to swing back to more mothers (and fathers) staying home during the day with children, making direct selling more convenient. 
D) the purchase or lease of real estate to build an actual "brick" retail store is becoming prohibitive. 
E) graduating business students are finding it more difficult to find a traditional sales position and like the idea of being their own bosses.

Question 17

Aeon, Carrefour, Tesco, and Metro Group are

Accepted Answer

A) sizable wholesalers that handle products for the world's largest retailers. 
B) new Internet start-ups that have the potential to impact the U.S. economy. 
C) large retailers outside of the United States. 
D) large distributors of business products. 
E) historic companies that developed consumer selling systems, though none of them exist today. 
A) sizable wholesalers that handle products for the world's largest retailers. 
B) new Internet start-ups that have the potential to impact the U.S. economy. 
C) large retailers outside of the United States. 
D) large distributors of business products. 
E) historic companies that developed consumer selling systems, though none of them exist today.

Question 18

Another name for a drop shipper is a

Accepted Answer

A) drop runner. 
B) desk jobber. 
C) transport vendor. 
D) container transport vendor. 
E) stock jobber. 
A) drop runner. 
B) desk jobber. 
C) transport vendor. 
D) container transport vendor. 
E) stock jobber.

Question 19

__________ exists if multiple retail channels become complementary through a series of touch points with consumers.

Accepted Answer

A) Multiretail marketing 
B) Shopper marketing 
C) Omnichannel retailing 
D) Retail positioning 
E) The wheel of retailing 
A) Multiretail marketing 
B) Shopper marketing 
C) Omnichannel retailing 
D) Retail positioning 
E) The wheel of retailing

Question 20

The greatest dollar amount of retail sales in the United States is generated by

Accepted Answer

A) food and beverage stores. 
B) sporting goods, books, and music stores. 
C) electronic stores. 
D) automotive dealers. 
E) furniture and home furnishing stores. 
A) food and beverage stores. 
B) sporting goods, books, and music stores. 
C) electronic stores. 
D) automotive dealers. 
E) furniture and home furnishing stores.

Exam 16: Retailing and Wholesaling

Scrambled merchandising refers to

Online retail purchases by consumers can be the result of several very different approaches, including (1) using a shopping "bot" to search for a product at locations with the best price, (2) participating in an online auction, (3) going directly to online malls, and (4) __________.

Drop shippers

At which level of service would the customer perform the least number of functions?

The average U.S. household now receives __________ direct-mail items or catalogs each week.

The three commonly used terms to describe levels of service are

A form of ownership that involves multiple outlets under common ownership is referred to as

A number of U.S.-based retail chains use special checkout lanes and terminals instead of clerks. This is an example of what level of service?

An approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category, is referred to as

As a business-format franchisor, McDonald's provides step-by-step procedures for most aspects of the business and

Another term for maintained markup is

Specialty stores and department stores, which provide many services to their customers, are frequently categorized by which level of service?

Bakery items, dairy products, and meat that are sold for cash in their original packages are traditionally sold by which type of wholesaler?

Retailing mix refers to the activities related to managing the store and the merchandise in the store, which includes

All activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use are referred to as

Growth in the direct-selling industry is the result of two trends-a growing number of companies are using direct selling to reach consumers who prefer one-on-one customer service and a social shopping experience rather than online shopping or big discount stores, and

Aeon, Carrefour, Tesco, and Metro Group are

Another name for a drop shipper is a

__________ exists if multiple retail channels become complementary through a series of touch points with consumers.

The greatest dollar amount of retail sales in the United States is generated by

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation Targeting and Positioning

Developing New Products and Services

Managing Successful Products Services and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Integrated Marketing Communications and Direct Marketing

Advertising Sales Promotion and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Financial Aspects of Marketing

Building an Effective Marketing Plan

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