Question 1

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 2

Bakery items,dairy products,and meat that are sold for cash directly from trucks in their original packages are traditionally sold by which type of wholesaler?

Accepted Answer

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

Question 3

franchise where the franchiser provides a few general guidelines to the franchisee is known as a

Accepted Answer

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

Question 4

requiring its toy suppliers to trim one square-inch of packaging from its lines,Walmart reduced packaging by __________ tons.

Accepted Answer

A)  3,000 
B)  3,500 
C)  4,000 
D)  4,500 
E)  5,000 
A)  3,000 
B)  3,500 
C)  4,000 
D)  4,500 
E)  5,000

Question 5

indicator of how effectively retail space is used to generate revenue is called __________.

Accepted Answer

A)  sales per square foot 
B)  return in investment 
C)  percentage of markup 
D)  gross profit 
E)  same-store sales growth 
A)  sales per square foot 
B)  return in investment 
C)  percentage of markup 
D)  gross profit 
E)  same-store sales growth

Question 6

the direct-mail and catalog retailing,the acronym PURLS stands for __________.

Accepted Answer

A)  personalized URLs 
B)  pre-sorted URLs 
C)  pre-loaded URLs 
D)  proactive URLs 
E)  portable URLs 
A)  personalized URLs 
B)  pre-sorted URLs 
C)  pre-loaded URLs 
D)  proactive URLs 
E)  portable URLs

Question 7

local Hallmark retailer carries thousands of greeting cards.You can find cards for a "twins" birthday,from my cat to yours,and many other unique occasions.This is an example of the _________ that the Hallmark retailer carries.

Accepted Answer

A)  depth of product line 
B)  breadth of product line 
C)  height of product line 
D)  length of product line 
E)  width of product line 
A)  depth of product line 
B)  breadth of product line 
C)  height of product line 
D)  length of product line 
E)  width of product line

Question 8

and Coca-Cola represent which type of franchise?

Accepted Answer

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

Question 9

large assortment of each item in a store is referred to as

Accepted Answer

A)  product span. 
B)  breadth of product line. 
C)  length of product line. 
D)  width of product line. 
E)  depth of product line. 
A)  product span. 
B)  breadth of product line. 
C)  length of product line. 
D)  width of product line. 
E)  depth of product line.

Question 10

Large shopping areas often contain two or three __________ stores,which are well-known national or regional stores such as Sears,Saks Fifth Avenue,and Bloomingdale's.

Accepted Answer

A)  power centers 
B)  mega centers 
C)  anchor 
D)  value 
E)  outlet 
A)  power centers 
B)  mega centers 
C)  anchor 
D)  value 
E)  outlet

Question 11

Unlike merchant wholesalers,agents,and brokers,manufacturers' branches and sales offices are __________ that perform wholesaling activities.

Accepted Answer

A)  independent distribution managers 
B)  independent intermediary channels 
C)  wholly-owned extensions of the producer 
D)  wholly-owned extensions of the distributor 
E)  wholly-owned extensions of the retailer 
A)  independent distribution managers 
B)  independent intermediary channels 
C)  wholly-owned extensions of the producer 
D)  wholly-owned extensions of the distributor 
E)  wholly-owned extensions of the retailer

Question 12

four stages of the retail life cycle are

Accepted Answer

A)  introduction, growth, maturity, and decline. 
B)  awareness, inquiry, alternative evaluation, and purchase. 
C)  early growth, accelerated development, maturity, and decline. 
D)  innovation, standardization, adaptation, and obsolescence. 
E)  innovation, adaptation, imitation, and obsolescence. 
A)  introduction, growth, maturity, and decline. 
B)  awareness, inquiry, alternative evaluation, and purchase. 
C)  early growth, accelerated development, maturity, and decline. 
D)  innovation, standardization, adaptation, and obsolescence. 
E)  innovation, adaptation, imitation, and obsolescence.

Question 13

Consumers benefit in dealing with retail corporate chains because

Accepted Answer

A)  corporate chains have more experience than other forms of retailers. 
B)  they can own stock in the same company where they shop since corporate chain stock must be publicly-traded. 
C)  they can bargain with a manufacturer to obtain product volume discounts on orders, which can be passed on to consumers in terms of lower prices. 
D)  there are multiple outlets with varied merchandise and independent management policies. 
E)  merchandise is arranged and displayed by professional designers making their shopping experience less stressful. 
A)  corporate chains have more experience than other forms of retailers. 
B)  they can own stock in the same company where they shop since corporate chain stock must be publicly-traded. 
C)  they can bargain with a manufacturer to obtain product volume discounts on orders, which can be passed on to consumers in terms of lower prices. 
D)  there are multiple outlets with varied merchandise and independent management policies. 
E)  merchandise is arranged and displayed by professional designers making their shopping experience less stressful.

Question 14

the telemarketing industry,issues such as __________,ethical guidelines,and industry standards have become a topic of discussion among consumers,Congress,the Federal Trade Commission (FTC),and businesses.

Accepted Answer

A)  competitive antics 
B)  coercion tactics 
C)  freedom of speech 
D)  language issues 
E)  consumer privacy 
A)  competitive antics 
B)  coercion tactics 
C)  freedom of speech 
D)  language issues 
E)  consumer privacy

Question 15

acronym RFID stands for

Accepted Answer

A)  retail franchise identification designation. 
B)  required financial identification. 
C)  radar frequency identification. 
D)  radio frequency identification. 
E)  retail federation of independent department stores. 
A)  retail franchise identification designation. 
B)  required financial identification. 
C)  radar frequency identification. 
D)  radio frequency identification. 
E)  retail federation of independent department stores.

Question 16

Walmart's $421 billion in sales in 2010 surpassed the gross domestic product of all but __________ countries for that same year.

Accepted Answer

A)  5 
B)  12 
C)  18 
D)  29 
E)  50 
A)  5 
B)  12 
C)  18 
D)  29 
E)  50

Question 17

amount added to the cost the retailer paid for a product to reach the final selling price is referred to as a(n)__________.

Accepted Answer

A)  markup 
B)  markdown 
C)  original markup 
D)  maintained markup 
E)  cost-plus markup 
A)  markup 
B)  markdown 
C)  original markup 
D)  maintained markup 
E)  cost-plus markup

Question 18

the past,television home shopping programs have attracted mostly

Accepted Answer

A)  20 to 30 year old men. 
B)  30 to 40 year old women. 
C)  40 to 50 year old men. 
D)  40 to 60 year old women. 
E)  50 to 60 year old men. 
A)  20 to 30 year old men. 
B)  30 to 40 year old women. 
C)  40 to 50 year old men. 
D)  40 to 60 year old women. 
E)  50 to 60 year old men.

Question 19

marketing managers at Omaha Steaks used airlines' databases to mail a special offer to frequent flyers.Eight weeks after shipping the steaks to the frequent flyers who responded to the offer,the company's salespeople followed up by telephoning customers to ask for new orders.This is an example of which types of nonstore retailing?

Accepted Answer

A)  direct selling and telemarketing 
B)  direct-mail and telemarketing 
C)  telemarketing and online retailing 
D)  online retailing and direct-mail 
E)  direct-mail and direct selling 
A)  direct selling and telemarketing 
B)  direct-mail and telemarketing 
C)  telemarketing and online retailing 
D)  online retailing and direct-mail 
E)  direct-mail and direct selling

Question 20

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.

Exam 16: Retailing and Wholesaling

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

Bakery items,dairy products,and meat that are sold for cash directly from trucks in their original packages are traditionally sold by which type of wholesaler?

franchise where the franchiser provides a few general guidelines to the franchisee is known as a

requiring its toy suppliers to trim one square-inch of packaging from its lines,Walmart reduced packaging by __________ tons.

indicator of how effectively retail space is used to generate revenue is called __________.

the direct-mail and catalog retailing,the acronym PURLS stands for __________.

local Hallmark retailer carries thousands of greeting cards.You can find cards for a "twins" birthday,from my cat to yours,and many other unique occasions.This is an example of the _________ that the Hallmark retailer carries.

and Coca-Cola represent which type of franchise?

large assortment of each item in a store is referred to as

Large shopping areas often contain two or three __________ stores,which are well-known national or regional stores such as Sears,Saks Fifth Avenue,and Bloomingdale's.

Unlike merchant wholesalers,agents,and brokers,manufacturers' branches and sales offices are __________ that perform wholesaling activities.

four stages of the retail life cycle are

Consumers benefit in dealing with retail corporate chains because

the telemarketing industry,issues such as __________,ethical guidelines,and industry standards have become a topic of discussion among consumers,Congress,the Federal Trade Commission (FTC),and businesses.

acronym RFID stands for

Walmart's $421 billion in sales in 2010 surpassed the gross domestic product of all but __________ countries for that same year.

amount added to the cost the retailer paid for a product to reach the final selling price is referred to as a(n)__________.

the past,television home shopping programs have attracted mostly

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

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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