Question 1

"Hypermarket" refers to

Accepted Answer

A)  category killers that specialize in electronics. 
B)  a form of intertype competition general merchandise store. 
C)  shopping malls anchored by four or more department stores such as Sears or Nordstrom's. 
D)  a form of limited-service outlets focusing on general merchandise like that offered in department stores. 
E)  a form of scrambled merchandising, which consists of large stores (more than 200,000 square feet) that offer everything in a single outlet, eliminating the need for consumers to shop at more than one location. 
A)  category killers that specialize in electronics. 
B)  a form of intertype competition general merchandise store. 
C)  shopping malls anchored by four or more department stores such as Sears or Nordstrom's. 
D)  a form of limited-service outlets focusing on general merchandise like that offered in department stores. 
E)  a form of scrambled merchandising, which consists of large stores (more than 200,000 square feet) that offer everything in a single outlet, eliminating the need for consumers to shop at more than one location.

Question 2

Timing is an important element of markdowns.Those retailers who take a markdown as soon as sales fall off are most likely doing so to __________.

Accepted Answer

A)  placate dissatisfied customers 
B)  enhance customer perceptions of product quality 
C)  create an image as a "cutting edge" retailer 
D)  free up valuable selling space and cash 
E)  react to the entry of a new competitor 
A)  placate dissatisfied customers 
B)  enhance customer perceptions of product quality 
C)  create an image as a "cutting edge" retailer 
D)  free up valuable selling space and cash 
E)  react to the entry of a new competitor

Question 3

Explain the global impact of retailing.

Accepted Answer

Retailing is important to the U.S.and gl

Question 4

Specialty stores that dominate the market are referred to in the retail trade as _________.

Accepted Answer

A)  hypermarkets 
B)  category killers 
C)  specialty outlets 
D)  regional dominators 
E)  general merchandise stores 
A)  hypermarkets 
B)  category killers 
C)  specialty outlets 
D)  regional dominators 
E)  general merchandise stores

Question 5

IKEA mail order catalog is an example of __________ retailing.

Accepted Answer

A)  intrusive 
B)  intertype 
C)  scrambled 
D)  nonstore 
E)  hypermarket 
A)  intrusive 
B)  intertype 
C)  scrambled 
D)  nonstore 
E)  hypermarket

Question 6

Figure 16-10
-According to Figure 16-10 above,market share reaches its highest level during which stage of the retail life cycle?

Accepted Answer

A)  none 
B)  "A" 
C)  "B" 
D)  "C" 
E)  "D" 
A)  none 
B)  "A" 
C)  "B" 
D)  "C" 
E)  "D"

Question 7

developing retailing strategies,marketers use what is called the retailing mix,which includes

Accepted Answer

A)  products, services, promotions, and retail communication. 
B)  promotions, publicity, and press releases. 
C)  retail pricing, store location, retail communication, and merchandise. 
D)  physical environment, people, process, and productivity. 
E)  direct mail, online stores, traditional stores, and outlet stores. 
A)  products, services, promotions, and retail communication. 
B)  promotions, publicity, and press releases. 
C)  retail pricing, store location, retail communication, and merchandise. 
D)  physical environment, people, process, and productivity. 
E)  direct mail, online stores, traditional stores, and outlet stores.

Question 8

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 who 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 who 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 9

According to the Direct Marketing Association,annual telemarketing sales exceed __________.

Accepted Answer

A)  $10 billion 
B)  $28 billion 
C)  $137 billion 
D)  $332 billion 
E)  $500 billion 
A)  $10 billion 
B)  $28 billion 
C)  $137 billion 
D)  $332 billion 
E)  $500 billion

Question 10

Meijer is a chain of hypermarkets headquartered in Michigan,which means it

Accepted Answer

A)  engages in no intertype competition. 
B)  is a disintermediator. 
C)  uses scrambled merchandising. 
D)  can also be referred to as a category killer. 
E)  uses dual distribution. 
A)  engages in no intertype competition. 
B)  is a disintermediator. 
C)  uses scrambled merchandising. 
D)  can also be referred to as a category killer. 
E)  uses dual distribution.

Question 11

6 million vending machines currently operating in the United States generate more than __________ in annual sales.

Accepted Answer

A)  $359 million 
B)  $985 million 
C)  $3.8 billion 
D)  $19 billion 
E)  $46 billion 
A)  $359 million 
B)  $985 million 
C)  $3.8 billion 
D)  $19 billion 
E)  $46 billion

Question 12

significant difference between the Mall of America and other regional shopping centers is that

Accepted Answer

A)  all MOA employees are required to be multilingual because of the store's international draw. 
B)  MOA has twice as much space devoted to specialty stores than to anchor stores. 
C)  retail store owners can live in attached condominiums, at reduced rates, so they don't have to worry about getting to work in bad weather. 
D)  employees can take classes on the premises offered through a local community college. 
E)  employees get a 50% discount at all the food establishments. 
A)  all MOA employees are required to be multilingual because of the store's international draw. 
B)  MOA has twice as much space devoted to specialty stores than to anchor stores. 
C)  retail store owners can live in attached condominiums, at reduced rates, so they don't have to worry about getting to work in bad weather. 
D)  employees can take classes on the premises offered through a local community college. 
E)  employees get a 50% discount at all the food establishments.

Question 13

business in Kansas City,Missouri,looking to rent office space should use a __________ to help it locate the most suitable space at the best possible rate.

Accepted Answer

A)  selling agent 
B)  broker 
C)  manufacturer's representative 
D)  manufacturer's agent 
E)  administrator 
A)  selling agent 
B)  broker 
C)  manufacturer's representative 
D)  manufacturer's agent 
E)  administrator

Question 14

General merchandise stores such as Walmart,Kmart,and Target are usually considered __________ outlets.

Accepted Answer

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

Question 15

Explain the dimensions of the retail positioning matrix and give an example of a store that would be located in each quadrant of the matrix.

Accepted Answer

The retail positioning matrix is a matri

Question 16

Which type of outlet is most likely in its maturity stage of the retail life cycle?

Accepted Answer

A)  single-price stores 
B)  value-retail centers 
C)  online retailers 
D)  business-district retailers 
E)  convenience stores 
A)  single-price stores 
B)  value-retail centers 
C)  online retailers 
D)  business-district retailers 
E)  convenience stores

Question 17

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

Accepted Answer

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

Question 18

retailing mix refers to the activities related to the management of and the merchandise in the store,which includes

Accepted Answer

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

Question 19

Independent retailers account for most of the __________ retail establishments in the United States.

Accepted Answer

A)  50,000 
B)  90,000 
C)  500,000 
D)  900,000 
E)  1.1 million 
A)  50,000 
B)  90,000 
C)  500,000 
D)  900,000 
E)  1.1 million

Question 20

Costco requires customers to perform many shopping functions during the purchasing process and all nonessential customer services have been eliminated.What level of service does Costco offer?

Accepted Answer

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

Exam 16: Retailing and Wholesaling

"Hypermarket" refers to

Timing is an important element of markdowns.Those retailers who take a markdown as soon as sales fall off are most likely doing so to __________.

Explain the global impact of retailing.

Specialty stores that dominate the market are referred to in the retail trade as _________.

IKEA mail order catalog is an example of __________ retailing.

Figure 16-10 -According to Figure 16-10 above,market share reaches its highest level during which stage of the retail life cycle?

developing retailing strategies,marketers use what is called the retailing mix,which includes

shippers

According to the Direct Marketing Association,annual telemarketing sales exceed __________.

Meijer is a chain of hypermarkets headquartered in Michigan,which means it

6 million vending machines currently operating in the United States generate more than __________ in annual sales.

significant difference between the Mall of America and other regional shopping centers is that

business in Kansas City,Missouri,looking to rent office space should use a __________ to help it locate the most suitable space at the best possible rate.

General merchandise stores such as Walmart,Kmart,and Target are usually considered __________ outlets.

Explain the dimensions of the retail positioning matrix and give an example of a store that would be located in each quadrant of the matrix.

Which type of outlet is most likely in its maturity stage of the retail life cycle?

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

retailing mix refers to the activities related to the management of and the merchandise in the store,which includes

Independent retailers account for most of the __________ retail establishments in the United States.

Costco requires customers to perform many shopping functions during the purchasing process and all nonessential customer services have been eliminated.What level of service does Costco offer?

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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