Question 1

setting prices for merchandise,retailers must decide on the markup,markdown,and the __________ for markdowns.

Accepted Answer

A)  relevance 
B)  necessity 
C)  percentage 
D)  timing 
E)  consequence 
A)  relevance 
B)  necessity 
C)  percentage 
D)  timing 
E)  consequence

Question 2

term "bricks and clicks" refers to __________ and __________ respectively.

Accepted Answer

A)  catalogs; websites 
B)  search engines; websites 
C)  traditional retailers; online retailers 
D)  buildings; mice 
E)  computer savvy buyers; computer novice buyers 
A)  catalogs; websites 
B)  search engines; websites 
C)  traditional retailers; online retailers 
D)  buildings; mice 
E)  computer savvy buyers; computer novice buyers

Question 3

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

Accepted Answer

A)  the markdown percentage. 
B)  the average length of a store visit. 
C)  the return on sales. 
D)  the gross margin. 
E)  the sales per employee. 
A)  the markdown percentage. 
B)  the average length of a store visit. 
C)  the return on sales. 
D)  the gross margin. 
E)  the sales per employee.

Question 4

Outlets where customers are responsible for most shopping activities,although salespeople are available in some departments,would be classified as __________ outlets.

Accepted Answer

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

Question 5

Using the telephone to interact with and sell directly to consumers is referred to as __________.

Accepted Answer

A)  digital marketing 
B)  telemarketing 
C)  solicitation marketing 
D)  direct contact marketing 
E)  direct selling 
A)  digital marketing 
B)  telemarketing 
C)  solicitation marketing 
D)  direct contact marketing 
E)  direct selling

Question 6

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 7

drug store that sells pharmaceuticals,beauty aids,camera equipment,nonperishable grocery items,and automobile motor oil is an example of a retailer using

Accepted Answer

A)  multiple distribution channels. 
B)  full-service. 
C)  scrambled merchandising. 
D)  intertype competition. 
E)  dual channel marketing. 
A)  multiple distribution channels. 
B)  full-service. 
C)  scrambled merchandising. 
D)  intertype competition. 
E)  dual channel marketing.

Question 8

key goal for retailers in the accelerated development phase of the retail life cycle is to

Accepted Answer

A)  recover start-up costs. 
B)  establish a dominant position in the fight for market share. 
C)  delay entering the decline stage of the retail life cycle. 
D)  find ways of discouraging their customers from moving to low-margin, mass-volume outlets. 
E)  establish a retail concept that is a sharp departure from existing competition. 
A)  recover start-up costs. 
B)  establish a dominant position in the fight for market share. 
C)  delay entering the decline stage of the retail life cycle. 
D)  find ways of discouraging their customers from moving to low-margin, mass-volume outlets. 
E)  establish a retail concept that is a sharp departure from existing competition.

Question 9

retail life cycle refers to

Accepted Answer

A)  the distinct stages a product goes through before it becomes obsolete. 
B)  the process of growth and decline that retail outlets, like products, experience. 
C)  the cycle of a customer's buying behavior from awareness of a product to its ultimate purchase. 
D)  the relationship between the tangible aspects of a product and the types of services that need to accompany it. 
E)  the traditional management changes that take place as a retail outlet grows. 
A)  the distinct stages a product goes through before it becomes obsolete. 
B)  the process of growth and decline that retail outlets, like products, experience. 
C)  the cycle of a customer's buying behavior from awareness of a product to its ultimate purchase. 
D)  the relationship between the tangible aspects of a product and the types of services that need to accompany it. 
E)  the traditional management changes that take place as a retail outlet grows.

Question 10

retailers now allow consumers to respond to their text messages announcing a sale for a specified time period.Consumers must then visit the site to purchase the sale items.Which of the following retailing websites offer these limited time "flash sales?"

Accepted Answer

A)  TextBuyIt 
B)  Best Buy 
C)  PeaPod 
D)  eBay 
E)  Gilt 
A)  TextBuyIt 
B)  Best Buy 
C)  PeaPod 
D)  eBay 
E)  Gilt

Question 11

community shopping center refers to a

Accepted Answer

A)  suburban mall containing up to 100 stores that draws customer from a 5-to 10-mile radius. 
B)  cluster of stores in a downtown area. 
C)  cluster of stores that serves people who are within a five- to ten-minute drive. 
D)  collection of category killers usually located outside a major amusement park or attraction. 
E)  retail location that typically has one primary store (usually a department store branch) with 20 to 40 smaller outlets serving a population of consumers who are within a 10- to 20-minute drive. 
A)  suburban mall containing up to 100 stores that draws customer from a 5-to 10-mile radius. 
B)  cluster of stores in a downtown area. 
C)  cluster of stores that serves people who are within a five- to ten-minute drive. 
D)  collection of category killers usually located outside a major amusement park or attraction. 
E)  retail location that typically has one primary store (usually a department store branch) with 20 to 40 smaller outlets serving a population of consumers who are within a 10- to 20-minute drive.

Question 12

Subway is a popular __________.

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 13

supermarkets have in-store restaurants where a customer can buy prepared meals to take home or eat there.Supermarkets and restaurants that provide these kinds of meals are engaged in __________ competition.

Accepted Answer

A)  intertype 
B)  institutional 
C)  intermodal 
D)  functional 
E)  selective 
A)  intertype 
B)  institutional 
C)  intermodal 
D)  functional 
E)  selective

Question 14

indicator used to compare the increase in sales of stores that have been open for the same period of time is called

Accepted Answer

A)  market share of each store. 
B)  same-store sales growth. 
C)  sales per square foot of each store. 
D)  gross sales per store. 
E)  net profit per store. 
A)  market share of each store. 
B)  same-store sales growth. 
C)  sales per square foot of each store. 
D)  gross sales per store. 
E)  net profit per store.

Question 15

During which stage of the retail life cycle do companies establish multiple outlets?

Accepted Answer

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

Question 16

Located predominately in Europe,these large stores (90,000 - 300,000 square feet)offer 20,000-80,000 different food,grocery,and general merchandise products,have annual revenue of over $100,000,000 per store,and are referred to as

Accepted Answer

A)  discount wholesalers. 
B)  discount retailers. 
C)  supermarkets. 
D)  hypermarkets. 
E)  retail cooperatives. 
A)  discount wholesalers. 
B)  discount retailers. 
C)  supermarkets. 
D)  hypermarkets. 
E)  retail cooperatives.

Question 17

Figure 16-10
-According to Figure 16-10 above,"A" 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 18

Multichannel Merchant magazine evaluates hundreds of entries to select the winners of the Multichannel Merchant Awards in 18 categories for companies that have excelled in

Accepted Answer

A)  designing the most effective direct-mail piece. 
B)  designing the most creative catalog cover. 
C)  implementing efficient direct-mail campaigns. 
D)  integrating their direct-mail and catalog activities with other marketing activities. 
E)  providing creative price promotions to channel members. 
A)  designing the most effective direct-mail piece. 
B)  designing the most creative catalog cover. 
C)  implementing efficient direct-mail campaigns. 
D)  integrating their direct-mail and catalog activities with other marketing activities. 
E)  providing creative price promotions to channel members.

Question 19

Stores that carry tremendous depth in one primary line of merchandise are referred to as

Accepted Answer

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

Question 20

Stores that carry a broad product line with limited depth are referred to as __________.

Accepted Answer

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

Exam 16: Retailing and Wholesaling

setting prices for merchandise,retailers must decide on the markup,markdown,and the __________ for markdowns.

term "bricks and clicks" refers to __________ and __________ respectively.

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

Outlets where customers are responsible for most shopping activities,although salespeople are available in some departments,would be classified as __________ outlets.

Using the telephone to interact with and sell directly to consumers is referred to as __________.

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

drug store that sells pharmaceuticals,beauty aids,camera equipment,nonperishable grocery items,and automobile motor oil is an example of a retailer using

key goal for retailers in the accelerated development phase of the retail life cycle is to

retail life cycle refers to

retailers now allow consumers to respond to their text messages announcing a sale for a specified time period.Consumers must then visit the site to purchase the sale items.Which of the following retailing websites offer these limited time "flash sales?"

community shopping center refers to a

Subway is a popular __________.

supermarkets have in-store restaurants where a customer can buy prepared meals to take home or eat there.Supermarkets and restaurants that provide these kinds of meals are engaged in __________ competition.

indicator used to compare the increase in sales of stores that have been open for the same period of time is called

During which stage of the retail life cycle do companies establish multiple outlets?

Located predominately in Europe,these large stores (90,000 - 300,000 square feet)offer 20,000-80,000 different food,grocery,and general merchandise products,have annual revenue of over $100,000,000 per store,and are referred to as

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

Multichannel Merchant magazine evaluates hundreds of entries to select the winners of the Multichannel Merchant Awards in 18 categories for companies that have excelled in

Stores that carry tremendous depth in one primary line of merchandise are referred to as

Stores that carry a broad product line with limited depth are referred to 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

Filters

term "bricks and clicks" refers to and respectively.