Question 1

Higher paper costs, increased postage rates, the growing interest in do-not-mail legislation, and concern for "green" mailings have resulted in

Accepted Answer

A) a switch to online catalogs and direct-to-customer e-mail advertisements. 
B) a focus on proven rather than prospective customers. 
C) the use of thinner, lightweight paper products. 
D) the banning of "junk" mail by a growing number of environmentally concerned communities. 
E) a resurgence in nonautomated telemarketing. 
A) a switch to online catalogs and direct-to-customer e-mail advertisements. 
B) a focus on proven rather than prospective customers. 
C) the use of thinner, lightweight paper products. 
D) the banning of "junk" mail by a growing number of environmentally concerned communities. 
E) a resurgence in nonautomated telemarketing.

Question 2

Retailing includes all activities involved in the

Accepted Answer

A) selling, renting, and providing of products and services to ultimate consumers for personal, family, or household use. 
B) selling of tangible products to ultimate consumers for personal, family, or household use. 
C) selling of tangible products to ultimate consumers for personal, household, or industrial use. 
D) selling, renting, leasing, or reselling of products and services to ultimate consumers or small industrial users. 
E) selling, renting, and providing of products and services without retaining the title to these offerings. 
A) selling, renting, and providing of products and services to ultimate consumers for personal, family, or household use. 
B) selling of tangible products to ultimate consumers for personal, family, or household use. 
C) selling of tangible products to ultimate consumers for personal, household, or industrial use. 
D) selling, renting, leasing, or reselling of products and services to ultimate consumers or small industrial users. 
E) selling, renting, and providing of products and services without retaining the title to these offerings.

Question 3

Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried?

Accepted Answer

A) general merchandise wholesaler 
B) limited-service wholesaler 
C) cash and carry wholesaler 
D) specialty merchandise wholesaler 
E) drop shipper 
A) general merchandise wholesaler 
B) limited-service wholesaler 
C) cash and carry wholesaler 
D) specialty merchandise wholesaler 
E) drop shipper

Question 4

Limited- and single-line stores are often referred to as

Accepted Answer

A) specialty outlets. 
B) general merchandise stores. 
C) scrambled merchandise stores. 
D) intertype outlets. 
E) hypermarkets. 
A) specialty outlets. 
B) general merchandise stores. 
C) scrambled merchandise stores. 
D) intertype outlets. 
E) hypermarkets.

Question 5

The marketing metrics related to a retailer's products or merchandise include all of the following except

Accepted Answer

A) the cost of carrying inventory. 
B) the inventory turnover. 
C) the average number of items per transaction. 
D) the number of returns. 
E) the average length of a store visit. 
A) the cost of carrying inventory. 
B) the inventory turnover. 
C) the average number of items per transaction. 
D) the number of returns. 
E) the average length of a store visit.

Question 6

A franchise where the franchisor provides step-by-step procedures for most aspects of the business is known as a

Accepted Answer

A) business-format franchise. 
B) product-distribution franchise. 
C) business franchise venture. 
D) manufacturing franchise. 
E) general service franchise. 
A) business-format franchise. 
B) product-distribution franchise. 
C) business franchise venture. 
D) manufacturing franchise. 
E) general service franchise.

Question 7

Retailers such as Williams-Sonoma that sell products through retail stores, catalogs, and online are examples of

Accepted Answer

A) intertype competitors. 
B) multichannel retailers. 
C) vertically integrated retailers. 
D) scrambled merchandisers. 
E) dual distributors. 
A) intertype competitors. 
B) multichannel retailers. 
C) vertically integrated retailers. 
D) scrambled merchandisers. 
E) dual distributors.

Question 8

Accelerated development in the retail life cycle is similar to which stage in the product life cycle?

Accepted Answer

A) introduction 
B) maturity 
C) decline 
D) growth 
E) harvest 
A) introduction 
B) maturity 
C) decline 
D) growth 
E) harvest

Question 9

As part of their regular retail pricing strategy, some retailers will emphasize consistently low prices and eliminate most markdowns. This practice is referred to as

Accepted Answer

A) everyday low pricing. 
B) low-margin pricing. 
C) everyday fair pricing. 
D) value-based pricing. 
E) maintained pricing. 
A) everyday low pricing. 
B) low-margin pricing. 
C) everyday fair pricing. 
D) value-based pricing. 
E) maintained pricing.

Question 10

Consumers often view central business district shopping as less convenient because of the lack of parking, higher crime rates, and

Accepted Answer

A) outdated stores. 
B) a lack of ambience. 
C) fewer quality restaurants 
D) few public restrooms 
E) exposure to the weather 
A) outdated stores. 
B) a lack of ambience. 
C) fewer quality restaurants 
D) few public restrooms 
E) exposure to the weather

Question 11

Explain the difference between a markup, an original markup, and a maintained markup.

Accepted Answer

In setting prices for merchandise, retai

Question 12

The wholesalers that perform all channel functions and are found in the health foods, automotive parts, and seafood industries would be

Accepted Answer

A) specialty wholesalers. 
B) full-line wholesalers. 
C) limited wholesalers. 
D) universal wholesalers. 
E) cash and carry wholesalers. 
A) specialty wholesalers. 
B) full-line wholesalers. 
C) limited wholesalers. 
D) universal wholesalers. 
E) cash and carry wholesalers.

Question 13

Which of the following statements best describes the key difference between merchant wholesalers and agents and brokers?

Accepted Answer

A) Merchant wholesalers don't perform all channel functions, whereas agents and brokers do. 
B) Agents and brokers only deal with consumer channels. 
C) Agents and brokers make their profits based on the sales of merchandise they own, while merchant wholesalers make profits based on fees paid for their services. 
D) Merchant wholesalers take title to merchandise, whereas agents and brokers do not. 
E) Agents and brokers take title to merchandise, whereas merchant wholesalers do not. 
A) Merchant wholesalers don't perform all channel functions, whereas agents and brokers do. 
B) Agents and brokers only deal with consumer channels. 
C) Agents and brokers make their profits based on the sales of merchandise they own, while merchant wholesalers make profits based on fees paid for their services. 
D) Merchant wholesalers take title to merchandise, whereas agents and brokers do not. 
E) Agents and brokers take title to merchandise, whereas merchant wholesalers do not.

Question 14

Another name for a manufacturer's agent is a

Accepted Answer

A) manufacturer's desk jobber. 
B) manufacturer's transport vendor. 
C) manufacturer's representative. 
D) manufacturer's broker. 
E) manufacturer's rack jobber. 
A) manufacturer's desk jobber. 
B) manufacturer's transport vendor. 
C) manufacturer's representative. 
D) manufacturer's broker. 
E) manufacturer's rack jobber.

Question 15

Which of the following is one of the largest retailers in the United States?

Accepted Answer

A) Hallmark 
B) Procter & Gamble 
C) Merck 
D) Home Depot 
E) Johnson and Johnson 
A) Hallmark 
B) Procter & Gamble 
C) Merck 
D) Home Depot 
E) Johnson and Johnson

Question 16

The value added dimension of the retail positioning matrix includes elements such as product reliability, prestige, and

Accepted Answer

A) level of service. 
B) market share. 
C) location. 
D) price. 
E) number of employees. 
A) level of service. 
B) market share. 
C) location. 
D) price. 
E) number of employees.

Question 17

Often new models or styles force the price of existing models to be

Accepted Answer

A) marked up. 
B) off-priced. 
C) value-subtracted. 
D) maintained. 
E) marked down. 
A) marked up. 
B) off-priced. 
C) value-subtracted. 
D) maintained. 
E) marked down.

Question 18

Explain the global impact of retailing.

Accepted Answer

Retailing is important to the United Sta

Question 19

Stores like Dillard's, Macy's, and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type. These retailers are known as

Accepted Answer

A) limited-line stores. 
B) scrambled merchandise stores. 
C) hypermarkets. 
D) intertype outlets. 
E) general merchandise stores. 
A) limited-line stores. 
B) scrambled merchandise stores. 
C) hypermarkets. 
D) intertype outlets. 
E) general merchandise stores.

Question 20

The __________ distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet.

Accepted Answer

A) wheel of retailing 
B) service level 
C) merchandise line 
D) product assortment 
E) form of ownership 
A) wheel of retailing 
B) service level 
C) merchandise line 
D) product assortment 
E) form of ownership

Exam 16: Retailing and Wholesaling

Higher paper costs, increased postage rates, the growing interest in do-not-mail legislation, and concern for "green" mailings have resulted in

Retailing includes all activities involved in the

Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried?

Limited- and single-line stores are often referred to as

The marketing metrics related to a retailer's products or merchandise include all of the following except

A franchise where the franchisor provides step-by-step procedures for most aspects of the business is known as a

Retailers such as Williams-Sonoma that sell products through retail stores, catalogs, and online are examples of

Accelerated development in the retail life cycle is similar to which stage in the product life cycle?

As part of their regular retail pricing strategy, some retailers will emphasize consistently low prices and eliminate most markdowns. This practice is referred to as

Consumers often view central business district shopping as less convenient because of the lack of parking, higher crime rates, and

Explain the difference between a markup, an original markup, and a maintained markup.

The wholesalers that perform all channel functions and are found in the health foods, automotive parts, and seafood industries would be

Which of the following statements best describes the key difference between merchant wholesalers and agents and brokers?

Another name for a manufacturer's agent is a

Which of the following is one of the largest retailers in the United States?

The value added dimension of the retail positioning matrix includes elements such as product reliability, prestige, and

Often new models or styles force the price of existing models to be

Explain the global impact of retailing.

Stores like Dillard's, Macy's, and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type. These retailers are known as

The __________ distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet.

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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