Question 1

What is the value of retailing for consumers and the economy? Identify the 5 utilities to consumers and explain each with examples.

Accepted Answer

Retailing is an important marketing activity.Producers and consumers are brought together through retailing actions, and retailing also creates customer value and has a significant impact on the economy.To consumers, these values are in the form of utilities provided (time, place, form, information, and possession).Retailing's economic value is represented by the people employed in retailing, as well as by the total amount of money exchanged in retail sales.

Question 2

_____ involves offering several unrelated product lines in a single store.

Accepted Answer

A) Intertype competition 
B) Dual channel marketing 
C) Scrambled merchandising 
D) Disintermediation 
A) Intertype competition 
B) Dual channel marketing 
C) Scrambled merchandising 
D) Disintermediation C

Question 3

Describe the functions of agents and brokers.

Accepted Answer

Manufacturers' agents, also known as manufacturers' representatives, work for several producers and carry non-competitive merchandise in an exclusive territory.Thus, they act as the producer's sales force.
Selling agents represent a single producer and are responsible for the entire marketing function, including the development of the marketing program.
Brokers are individuals or firms whose function is to bring buyers and sellers together to make sales, after which the relationship dissolves.

Question 4

The elements of the retailing mix, product and service considerations, retail pricing, physical location factors, and communications, focus on the consumer.

Accepted Answer

A) True 
 B)False

Question 5

Shopper marketing helps a retailer understand how consumers behave as shoppers in different channels and formats.

Accepted Answer

A) True 
 B)False

Question 6

National franchisers assist their franchisees in selecting the store location, setting up the store, advertising, and:

Accepted Answer

A) paying their bills promptly. 
B) securing loans from banks for setting up the business. 
C) keeping premises clean. 
D) training personnel. 
A) paying their bills promptly. 
B) securing loans from banks for setting up the business. 
C) keeping premises clean. 
D) training personnel.

Question 7

What level of retail service do home building-supply outlets, discount stores, and catalogue showrooms typically provide?

Accepted Answer

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

Question 8

Graham's Spice LLC makes use of _____, which includes use of traditional media, new media, direct marketing, loyalty, and trade promotion to understand when and where its customers first think about purchasing its spices.

Accepted Answer

A) understanding consumers 
B) retail positioning 
C) shopper marketing 
D) purchase matrix 
A) understanding consumers 
B) retail positioning 
C) shopper marketing 
D) purchase matrix

Question 9

Kyra aims to expand Posture's reach across Canada and make it a high-end store.She will have well-trained and informed salespeople in each store who will assist customers with a personalized shopping experience.The salespeople will have a database of its regular customers with details such as the colour, texture, and size of clothing they prefer, so that the customers do not waste time providing such details every time they visit the store.Customers' needs will be addressed in-store.Kyra is aiming to make Posture:

Accepted Answer

A) move from limited service to full service. 
B) move from self-service to full service. 
C) become a more self-service store. 
D) offer full-service at self-service prices. 
A) move from limited service to full service. 
B) move from self-service to full service. 
C) become a more self-service store. 
D) offer full-service at self-service prices.

Question 10

The variety of different items a store carries is referred to as the _____.

Accepted Answer

A) retailing mix 
B) depth of product line 
C) breadth of product line 
D) level of service 
A) retailing mix 
B) depth of product line 
C) breadth of product line 
D) level of service

Question 11

Prices in vending machines tend to be higher because:

Accepted Answer

A) machines are placed in high demand areas. 
B) maintenance and operating costs are high. 
C) machines typically sell very unique items. 
D) customary pricing requires certain coin amounts regardless of markup. 
A) machines are placed in high demand areas. 
B) maintenance and operating costs are high. 
C) machines typically sell very unique items. 
D) customary pricing requires certain coin amounts regardless of markup.

Question 12

Play Along Inc., a new toy company, has launched Music Blocks at an initial price of $70.It is a set of electronic blocks that young children arrange in different combinations to create music and experiment with sound.To get the toy into the hands of the retailers, Play Along Inc.must choose to use a _____ to be principally responsible for the transactional channel functions.

Accepted Answer

A) cash and carry wholesaler 
B) drop shipper 
C) truck jobber 
D) manufacturers' agent 
A) cash and carry wholesaler 
B) drop shipper 
C) truck jobber 
D) manufacturers' agent

Question 13

Competition between very dissimilar types of retail outlets that carry some of the same kind of merchandise is referred to as _____.

Accepted Answer

A) breadth of line 
B) intertype competition 
C) scrambled merchandising 
D) multi-service merchandising 
A) breadth of line 
B) intertype competition 
C) scrambled merchandising 
D) multi-service merchandising

Question 14

A retailer that moves to 24/7 hours of operation is offering consumers place utility.

Accepted Answer

A) True 
 B)False

Question 15

Which level of service frequently characterizes specialty stores and department stores?

Accepted Answer

A) exclusive service 
B) minimal service 
C) full service 
D) limited service 
A) exclusive service 
B) minimal service 
C) full service 
D) limited service

Question 16

A drug store that sells pharmaceuticals, beauty aids, camera equipment, non-perishable grocery items, and automobile motor oil is an example of a retailer using _____.

Accepted Answer

A) cross-docking 
B) full service 
C) scrambled merchandising 
D) disintermediation 
A) cross-docking 
B) full service 
C) scrambled merchandising 
D) disintermediation

Question 17

Franchising is a type of:

Accepted Answer

A) limited service wholesaler. 
B) contractual system. 
C) vertically integrated network. 
D) greenfield venture. 
A) limited service wholesaler. 
B) contractual system. 
C) vertically integrated network. 
D) greenfield venture.

Question 18

Posture has an informed staff and will even gift wrap purchases free of charge.It does not, however, provide alterations on items purchased at the store.This store offers _____.

Accepted Answer

A) exclusive service 
B) economies-of-scale service 
C) self-service 
D) limited service 
A) exclusive service 
B) economies-of-scale service 
C) self-service 
D) limited service

Question 19

Regional shopping centres are:

Accepted Answer

A) 50 to 150 stores that typically attract customers who live or work within a 5- to 15-kilometre range. 
B) retail clusters in downtown areas. 
C) retail site locations that typically have one primary store and often about 20 to 40 smaller outlets and that serve a population base of about 100,000. 
D) clusters of stores that serve people who are within a 5- to 10-minute drive and live in a population base under 30,000. 
A) 50 to 150 stores that typically attract customers who live or work within a 5- to 15-kilometre range. 
B) retail clusters in downtown areas. 
C) retail site locations that typically have one primary store and often about 20 to 40 smaller outlets and that serve a population base of about 100,000. 
D) clusters of stores that serve people who are within a 5- to 10-minute drive and live in a population base under 30,000.

Question 20

Retailing includes all activities involved with providing goods to consumers and business buyers.

Accepted Answer

A) True 
 B)False

What is the value of retailing for consumers and the economy? Identify the 5 utilities to consumers and explain each with examples.

_____ involves offering several unrelated product lines in a single store.

Describe the functions of agents and brokers.

The elements of the retailing mix, product and service considerations, retail pricing, physical location factors, and communications, focus on the consumer.

Shopper marketing helps a retailer understand how consumers behave as shoppers in different channels and formats.

National franchisers assist their franchisees in selecting the store location, setting up the store, advertising, and:

What level of retail service do home building-supply outlets, discount stores, and catalogue showrooms typically provide?

Graham's Spice LLC makes use of _____, which includes use of traditional media, new media, direct marketing, loyalty, and trade promotion to understand when and where its customers first think about purchasing its spices.

The variety of different items a store carries is referred to as the _____.

Prices in vending machines tend to be higher because:

Competition between very dissimilar types of retail outlets that carry some of the same kind of merchandise is referred to as _____.

A retailer that moves to 24/7 hours of operation is offering consumers place utility.

Which level of service frequently characterizes specialty stores and department stores?

A drug store that sells pharmaceuticals, beauty aids, camera equipment, non-perishable grocery items, and automobile motor oil is an example of a retailer using _____.

Franchising is a type of:

Posture has an informed staff and will even gift wrap purchases free of charge.It does not, however, provide alterations on items purchased at the store.This store offers _____.

Regional shopping centres are:

Retailing includes all activities involved with providing goods to consumers and business buyers.

Marketing Fundamentals

The Marketing Environment

Consumer Behaviour

Market Research Metrics and Analytics

B2B Marketing

Segmentation Targeting and Positioning

Products and Brands

New Product Development

Pricing

Marketing Channels and Supply Chain

Marketing Communications

Digital Marketing Communications

Customer Relationship Management

Marketing and Strategic Planning

Filters

Exam 11: Retailing and Wholesaling

What is the value of retailing for consumers and the economy? Identify the 5 utilities to consumers and explain each with examples.

_____ involves offering several unrelated product lines in a single store.

Describe the functions of agents and brokers.

The elements of the retailing mix, product and service considerations, retail pricing, physical location factors, and communications, focus on the consumer.

Shopper marketing helps a retailer understand how consumers behave as shoppers in different channels and formats.

National franchisers assist their franchisees in selecting the store location, setting up the store, advertising, and:

What level of retail service do home building-supply outlets, discount stores, and catalogue showrooms typically provide?

Graham's Spice LLC makes use of _____, which includes use of traditional media, new media, direct marketing, loyalty, and trade promotion to understand when and where its customers first think about purchasing its spices.

The variety of different items a store carries is referred to as the _____.

Prices in vending machines tend to be higher because:

Competition between very dissimilar types of retail outlets that carry some of the same kind of merchandise is referred to as _____.

A retailer that moves to 24/7 hours of operation is offering consumers place utility.

Which level of service frequently characterizes specialty stores and department stores?

A drug store that sells pharmaceuticals, beauty aids, camera equipment, non-perishable grocery items, and automobile motor oil is an example of a retailer using _____.

Franchising is a type of:

Posture has an informed staff and will even gift wrap purchases free of charge.It does not, however, provide alterations on items purchased at the store.This store offers _____.

Regional shopping centres are:

Retailing includes all activities involved with providing goods to consumers and business buyers.

Marketing Fundamentals

The Marketing Environment

Consumer Behaviour

Market Research Metrics and Analytics

B2B Marketing

Segmentation Targeting and Positioning

Products and Brands

New Product Development

Pricing

Marketing Channels and Supply Chain

Marketing Communications

Digital Marketing Communications

Customer Relationship Management

Marketing and Strategic Planning

Filters