Question 1

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

Accepted Answer

A)  machine vendors 
B)  credit line wholesalers 
C)  transport vendors 
D)  cash and carry wholesalers 
E)  container transport vendors 
A)  machine vendors 
B)  credit line wholesalers 
C)  transport vendors 
D)  cash and carry wholesalers 
E)  container transport vendors

Question 2

T.J. Maxx HomeGoods Photo
-Savings to the consumer at off-price retailers are reported as high as __________ off the prices of a traditional department store.

Accepted Answer

A)  50% 
B)  60% 
C)  70% 
D)  80% 
E)  90% 
A)  50% 
B)  60% 
C)  70% 
D)  80% 
E)  90%

Question 3

Usage of specialty catalogs,like those from firms like IKEA,Crate and Barrel,and L.L.Bean have been affected by all of the following factors except:

Accepted Answer

A)  influence of larger retailers as their marketing activities have increased the number and variety of products consumers purchase through direct mail and catalogs. 
B)  higher paper costs, increase in postage rates, and the possibility of the U.S. Postal Service reducing delivery to five days a week. 
C)  growing interest in do-not-mail legislation. 
D)  concern for "green" mailings and catalogs. 
E)  growing influence of television home shopping where consumers order over the telephone. 
A)  influence of larger retailers as their marketing activities have increased the number and variety of products consumers purchase through direct mail and catalogs. 
B)  higher paper costs, increase in postage rates, and the possibility of the U.S. Postal Service reducing delivery to five days a week. 
C)  growing interest in do-not-mail legislation. 
D)  concern for "green" mailings and catalogs. 
E)  growing influence of television home shopping where consumers order over the telephone.

Question 4

Sales per Square Foot and Same-Store Sales Growth Marketing Dashboards
-Which of the following stores shown in the Sales per Square Foot Marketing Dashboard above has the highest sales per square foot?

Accepted Answer

A)  Target 
B)  Neiman Marcus 
C)  Best Buy 
D)  Tiffany 
E)  Apple 
A)  Target 
B)  Neiman Marcus 
C)  Best Buy 
D)  Tiffany 
E)  Apple

Question 5

Vending machines are popular with consumers; recent consumer satisfaction research indicates that __________ percent of consumers believe purchasing from a vending machine is equal to or superior to a store purchase.

Accepted Answer

A)  15 
B)  27 
C)  49 
D)  63 
E)  82 
A)  15 
B)  27 
C)  49 
D)  63 
E)  82

Question 6

Retailers have come to realize that consumers want products that are consistent with their personal values and

Accepted Answer

A)  foreign regulations. 
B)  meet third party certifications. 
C)  they want to purchase them from retailers with similar values. 
D)  cost less. 
E)  social image. 
A)  foreign regulations. 
B)  meet third party certifications. 
C)  they want to purchase them from retailers with similar values. 
D)  cost less. 
E)  social image.

Question 7

__________ provided by retailers create value for consumers.

Accepted Answer

A)  utilities 
B)  wholesaling functions 
C)  outsourcing 
D)  logistics 
E)  synergies 
A)  utilities 
B)  wholesaling functions 
C)  outsourcing 
D)  logistics 
E)  synergies

Question 8

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 establish a credit history more easily than with other forms of retailers. 
D)  there are multiple outlets with similar merchandise and consistent management policies. 
E)  they have less stress in making decisions since merchandise is arranged and displayed by professional designers. 
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 establish a credit history more easily than with other forms of retailers. 
D)  there are multiple outlets with similar merchandise and consistent management policies. 
E)  they have less stress in making decisions since merchandise is arranged and displayed by professional designers.

Question 9

management approach in which a manger is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other,with the objective of maximizing sales and profits in the category,is referred to as __________.

Accepted Answer

A)  capacity management 
B)  product management 
C)  retail inventory management 
D)  category management 
E)  automated inventory control 
A)  capacity management 
B)  product management 
C)  retail inventory management 
D)  category management 
E)  automated inventory control

Question 10

cluster of neighborhood stores that serves people within a 5-to 10-mile radius is referred to as a(n)

Accepted Answer

A)  suburban shopping mall. 
B)  strip mall. 
C)  mini-mart. 
D)  hypermarket. 
E)  central business district. 
A)  suburban shopping mall. 
B)  strip mall. 
C)  mini-mart. 
D)  hypermarket. 
E)  central business district.

Question 11

restaurant that offers food made exactly to each customer's preference is providing its customers with __________ utility.

Accepted Answer

A)  time 
B)  place 
C)  possession 
D)  form 
E)  process 
A)  time 
B)  place 
C)  possession 
D)  form 
E)  process

Question 12

General merchandise wholesalers

Accepted Answer

A)  carry a broad assortment of merchandise and perform all channel functions. 
B)  own the merchandise they sell but do not physically handle, stock, or deliver it. 
C)  have a small warehouse from which they stock their trucks for distribution to retailers. 
D)  work for several producers, carry noncompetitive, complementary merchandise in an exclusive territory, and use over-the-road transportation for all product deliveries. 
E)  deal exclusively with small low-cost consumer products that are distributed to a select number of large retail chains. 
A)  carry a broad assortment of merchandise and perform all channel functions. 
B)  own the merchandise they sell but do not physically handle, stock, or deliver it. 
C)  have a small warehouse from which they stock their trucks for distribution to retailers. 
D)  work for several producers, carry noncompetitive, complementary merchandise in an exclusive territory, and use over-the-road transportation for all product deliveries. 
E)  deal exclusively with small low-cost consumer products that are distributed to a select number of large retail chains.

Question 13

and carry wholesalers

Accepted Answer

A)  handle bulky items like lumber, bricks, and telephone poles. 
B)  handle perishable items like flowers, baked goods, and deli meats. 
C)  handle office supplies, electrical supplies, hardware products, and groceries. 
D)  are a kind of full-service wholesaler. 
E)  lease vending machines to merchants and refill them as needed on a cash only basis. 
A)  handle bulky items like lumber, bricks, and telephone poles. 
B)  handle perishable items like flowers, baked goods, and deli meats. 
C)  handle office supplies, electrical supplies, hardware products, and groceries. 
D)  are a kind of full-service wholesaler. 
E)  lease vending machines to merchants and refill them as needed on a cash only basis.

Question 14

Bloomingdale's stores are all part of __________ corporate chain.

Accepted Answer

A)  Dillard's 
B)  Macy's 
C)  Target's 
D)  Walmart's 
E)  Saks Fifth Avenue 
A)  Dillard's 
B)  Macy's 
C)  Target's 
D)  Walmart's 
E)  Saks Fifth Avenue

Question 15

China,130,000 Internet cafes serve __________ customers.

Accepted Answer

A)  163,000 
B)  16,300,000 
C)  163,000,000 
D)  1,630,000,000 
E)  16,300,000,000 
A)  163,000 
B)  16,300,000 
C)  163,000,000 
D)  1,630,000,000 
E)  16,300,000,000

Question 16

Figure 16-2
-shown in Figure 16-2 above,the greatest dollar amount of retail sales in the United States is generated by __________.

Accepted Answer

A)  food and beverage stores 
B)  sporting goods, books, and music stores 
C)  electronic stores 
D)  automotive dealers 
E)  furniture and home furnishing stores 
A)  food and beverage stores 
B)  sporting goods, books, and music stores 
C)  electronic stores 
D)  automotive dealers 
E)  furniture and home furnishing stores

Question 17

Direct selling is likely to continue to grow in markets

Accepted Answer

A)  for people who prefer not to have a social shopping experience. 
B)  where there are effective distribution channels. 
C)  in which consumers are knowledgeable shoppers. 
D)  where door-to-door convenience is important. 
E)  that have an excellent infrastructure. 
A)  for people who prefer not to have a social shopping experience. 
B)  where there are effective distribution channels. 
C)  in which consumers are knowledgeable shoppers. 
D)  where door-to-door convenience is important. 
E)  that have an excellent infrastructure.

Question 18

Emphasizing consistently low prices and eliminating most markdowns is referred to as __________.

Accepted Answer

A)  low-margin pricing 
B)  everyday low pricing 
C)  everyday fair pricing 
D)  value-based pricing 
E)  maintained pricing 
A)  low-margin pricing 
B)  everyday low pricing 
C)  everyday fair pricing 
D)  value-based pricing 
E)  maintained pricing

Question 19

of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.Of the shoppers who leave,__________ percent do not return.

Accepted Answer

A)  30% 
B)  40% 
C)  50% 
D)  60% 
E)  70% 
A)  30% 
B)  40% 
C)  50% 
D)  60% 
E)  70%

Question 20

Europe,stores called __________ are based on the concept of one-stop shopping for consumers.Such retail stores,which use scrambled merchandising,often encompass over 200,000 square feet and offer quality,variety,and low price for food and groceries and general merchandise.

Accepted Answer

A)  megamarkets 
B)  hypermarkets 
C)  one-stop markets 
D)  euromarkets 
E)  supercenters 
A)  megamarkets 
B)  hypermarkets 
C)  one-stop markets 
D)  euromarkets 
E)  supercenters

Exam 16: Retailing and Wholesaling

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

T.J. Maxx HomeGoods Photo -Savings to the consumer at off-price retailers are reported as high as __________ off the prices of a traditional department store.

Usage of specialty catalogs,like those from firms like IKEA,Crate and Barrel,and L.L.Bean have been affected by all of the following factors except:

Sales per Square Foot and Same-Store Sales Growth Marketing Dashboards -Which of the following stores shown in the Sales per Square Foot Marketing Dashboard above has the highest sales per square foot?

Vending machines are popular with consumers; recent consumer satisfaction research indicates that __________ percent of consumers believe purchasing from a vending machine is equal to or superior to a store purchase.

Retailers have come to realize that consumers want products that are consistent with their personal values and

__________ provided by retailers create value for consumers.

Consumers benefit in dealing with retail corporate chains because

management approach in which a manger is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other,with the objective of maximizing sales and profits in the category,is referred to as __________.

cluster of neighborhood stores that serves people within a 5-to 10-mile radius is referred to as a(n)

restaurant that offers food made exactly to each customer's preference is providing its customers with __________ utility.

General merchandise wholesalers

and carry wholesalers

Bloomingdale's stores are all part of __________ corporate chain.

China,130,000 Internet cafes serve __________ customers.

Figure 16-2 -shown in Figure 16-2 above,the greatest dollar amount of retail sales in the United States is generated by __________.

Direct selling is likely to continue to grow in markets

Emphasizing consistently low prices and eliminating most markdowns is referred to as __________.

of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.Of the shoppers who leave,__________ percent do not return.

Europe,stores called __________ are based on the concept of one-stop shopping for consumers.Such retail stores,which use scrambled merchandising,often encompass over 200,000 square feet and offer quality,variety,and low price for food and groceries and general merchandise.

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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