Question 1

four utilities offered to consumers through retailing are

Accepted Answer

A)  convenience, performance, possession, and form. 
B)  time, place, possession, and form. 
C)  product, price, place, and promotion. 
D)  people, productivity, process, and physical environment. 
E)  convenience, consistency, competition, and choice. 
A)  convenience, performance, possession, and form. 
B)  time, place, possession, and form. 
C)  product, price, place, and promotion. 
D)  people, productivity, process, and physical environment. 
E)  convenience, consistency, competition, and choice.

Question 2

Identify and describe the functions of agents and brokers.

Accepted Answer

Agents and brokers do not take title to

Question 3

Staples is a specialty discount retailer that focuses on one type of product-office supplies.Staples is referred to as a

Accepted Answer

A)  hypermarket 
B)  national dominator 
C)  category killer 
D)  regional dominator 
E)  general merchandise store 
A)  hypermarket 
B)  national dominator 
C)  category killer 
D)  regional dominator 
E)  general merchandise store

Question 4

Nordstrom stores typically have 50 percent more salespeople on the floor than similarly sized stores,and the salespeople are renowned for their professional and personalized attention to customers.Nordstrom would be considered a(n)__________.

Accepted Answer

A)  exclusive-service retailer 
B)  limited-service retailer 
C)  full-service retailer 
D)  upscale-retailer 
E)  limited-domain retailer 
A)  exclusive-service retailer 
B)  limited-service retailer 
C)  full-service retailer 
D)  upscale-retailer 
E)  limited-domain retailer

Question 5

use of displays,coupons,product samples,and other brand communications to influence shopping behavior in a store is referred to as

Accepted Answer

A)  functional qualities 
B)  level of service 
C)  shopper marketing 
D)  lifestyle attributes 
E)  psychographic elements 
A)  functional qualities 
B)  level of service 
C)  shopper marketing 
D)  lifestyle attributes 
E)  psychographic elements

Question 6

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 7

Which of the following firms has made the wisest wholesaler choice for its product?

Accepted Answer

A)  Sam's Coal Country uses a cash and carry wholesaler for its coal. 
B)  Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs. 
C)  Raisha's Retros uses a rack jobber for its replica racecar radios. 
D)  Shayna's Superior Supplies uses a desk jobber for its staplers. 
E)  Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights. 
A)  Sam's Coal Country uses a cash and carry wholesaler for its coal. 
B)  Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs. 
C)  Raisha's Retros uses a rack jobber for its replica racecar radios. 
D)  Shayna's Superior Supplies uses a desk jobber for its staplers. 
E)  Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights.

Question 8

four major types of limited-service merchant wholesalers are drop shippers,rack jobbers,cash and carry wholesalers,and __________.

Accepted Answer

A)  machine vendors 
B)  credit line wholesalers 
C)  transport vendors 
D)  truck jobbers 
E)  container transport vendors 
A)  machine vendors 
B)  credit line wholesalers 
C)  transport vendors 
D)  truck jobbers 
E)  container transport vendors

Question 9

Target recently introduced its Target REDcard,where cardholders receive 5% back for each purchase.Target also allows customers to return merchandise within 30 days but still does not offer alteration services.Target offers what level of service to its customers?

Accepted Answer

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

Question 10

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 11

Mike's Camera is a retailer that carries a full line of professional and amateur camera equipment,develops all types of film and digital photos,and sells darkroom equipment.Mike's Camera is an example of a(n)__________.

Accepted Answer

A)  hypermarket 
B)  general merchandise store 
C)  scrambled merchandise store 
D)  intertype outlet 
E)  specialty outlet 
A)  hypermarket 
B)  general merchandise store 
C)  scrambled merchandise store 
D)  intertype outlet 
E)  specialty outlet

Question 12

Coal,lumber,and chemicals,which are sold in extremely large quantities are traditionally sold by which type of wholesaler?

Accepted Answer

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

Question 13

Outside the United States,large retailers include __________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Accepted Answer

A)  Aeon 
B)  Toshei 
C)  Seebi 
D)  Goshen 
E)  Toshi 
A)  Aeon 
B)  Toshei 
C)  Seebi 
D)  Goshen 
E)  Toshi

Question 14

marketing metrics related to a retailer's customers include all of the following EXCEPT:

Accepted Answer

A)  the number of customers per day or per hour. 
B)  the average length of a store visit. 
C)  the turnover of inventory. 
D)  the average transaction size per customer. 
E)  the number of transactions per customer. 
A)  the number of customers per day or per hour. 
B)  the average length of a store visit. 
C)  the turnover of inventory. 
D)  the average transaction size per customer. 
E)  the number of transactions per customer.

Question 15

retailing mix includes all of the following EXCEPT:

Accepted Answer

A)  merchandise. 
B)  target market. 
C)  retail pricing. 
D)  store location. 
E)  retail communication. 
A)  merchandise. 
B)  target market. 
C)  retail pricing. 
D)  store location. 
E)  retail communication.

Question 16

retailers take a markdown as soon as sales fall to free valuable selling space and cash.This concept of retail pricing based on _________.

Accepted Answer

A)  timing 
B)  demand 
C)  availability 
D)  bargain hunting 
E)  customer value 
A)  timing 
B)  demand 
C)  availability 
D)  bargain hunting 
E)  customer value

Question 17

West Edmonton Mall in Alberta,Canada is a conglomerate of more than 800 stores,the world's largest indoor amusement park,more than 100 restaurants,a movie complex,and two hotels.This retail complex is an example of a(n)__________.

Accepted Answer

A)  regional shopping center 
B)  urban microcenter 
C)  megaplex 
D)  hypermarket 
E)  supercenter 
A)  regional shopping center 
B)  urban microcenter 
C)  megaplex 
D)  hypermarket 
E)  supercenter

Question 18

calculation for same-store sales growth is

Accepted Answer

A)  total sales ÷ selling area in square feet. 
B)  (store sales in year 3 ÷ store sales in year 1). 
C)  [store sales in year 1 ÷ (store sales in year 2 - store sales in year 1)]. 
D)  [(store sales in year 2 - store sales in year 1) ÷ store sales in year 1]. 
E)  store 1 square feet ÷ store 2 square feet. 
A)  total sales ÷ selling area in square feet. 
B)  (store sales in year 3 ÷ store sales in year 1). 
C)  [store sales in year 1 ÷ (store sales in year 2 - store sales in year 1)]. 
D)  [(store sales in year 2 - store sales in year 1) ÷ store sales in year 1]. 
E)  store 1 square feet ÷ store 2 square feet.

Question 19

Figure 16-10
-According to Figure 16-10 above,"C" represents which stage of the retail life cycle?

Accepted Answer

A)  introduction 
B)  early growth 
C)  accelerated development 
D)  maturity 
E)  decline 
A)  introduction 
B)  early growth 
C)  accelerated development 
D)  maturity 
E)  decline

Question 20

Stores like Dillard's,Macy's,and Neiman Marcus carry a wide range of different types of products but not unusual sizes.They 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

Exam 16: Retailing and Wholesaling

four utilities offered to consumers through retailing are

Identify and describe the functions of agents and brokers.

Staples is a specialty discount retailer that focuses on one type of product-office supplies.Staples is referred to as a

Nordstrom stores typically have 50 percent more salespeople on the floor than similarly sized stores,and the salespeople are renowned for their professional and personalized attention to customers.Nordstrom would be considered a(n)__________.

use of displays,coupons,product samples,and other brand communications to influence shopping behavior in a store is referred to as

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

Which of the following firms has made the wisest wholesaler choice for its product?

four major types of limited-service merchant wholesalers are drop shippers,rack jobbers,cash and carry wholesalers,and __________.

Target recently introduced its Target REDcard,where cardholders receive 5% back for each purchase.Target also allows customers to return merchandise within 30 days but still does not offer alteration services.Target offers what level of service to its customers?

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

Mike's Camera is a retailer that carries a full line of professional and amateur camera equipment,develops all types of film and digital photos,and sells darkroom equipment.Mike's Camera is an example of a(n)__________.

Coal,lumber,and chemicals,which are sold in extremely large quantities are traditionally sold by which type of wholesaler?

Outside the United States,large retailers include __________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

marketing metrics related to a retailer's customers include all of the following EXCEPT:

retailing mix includes all of the following EXCEPT:

retailers take a markdown as soon as sales fall to free valuable selling space and cash.This concept of retail pricing based on _________.

West Edmonton Mall in Alberta,Canada is a conglomerate of more than 800 stores,the world's largest indoor amusement park,more than 100 restaurants,a movie complex,and two hotels.This retail complex is an example of a(n)__________.

calculation for same-store sales growth is

Figure 16-10 -According to Figure 16-10 above,"C" represents which stage of the retail life cycle?

Stores like Dillard's,Macy's,and Neiman Marcus carry a wide range of different types of products but not unusual sizes.They are known as __________.

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 Multi-Channel Marketing

Pulling It All Together: The Strategic Marketing Process

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