Question 1

variety of different items a store carries is referred to as the

Accepted Answer

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

Question 2

Independently owned stores that band together to act like a chain are referred to as __________.

Accepted Answer

A)  corporate chains 
B)  cooperative marketing systems 
C)  contractual systems 
D)  regional shopping centers 
E)  self-service systems 
A)  corporate chains 
B)  cooperative marketing systems 
C)  contractual systems 
D)  regional shopping centers 
E)  self-service systems

Question 3

Which type of utility is created by online shopping?

Accepted Answer

A)  time 
B)  price 
C)  product 
D)  process 
E)  promotion 
A)  time 
B)  price 
C)  product 
D)  process 
E)  promotion

Question 4

Regional shopping centers refer to a

Accepted Answer

A)  retail cluster in a downtown area. 
B)  retail location that typically has one primary store and about 20 to 40 smaller outlets, and serves a population base of about 100,000. 
C)  cluster of stores that serve people who are within a five- to ten-minute drive and serves a population base of under 30,000. 
D)  group of 50 to 150 stores that typically attract customers who live or work within a 5- to 10-mile range, often containing two or three anchor stores. 
E)  retail cluster of stores in uptown areas. 
A)  retail cluster in a downtown area. 
B)  retail location that typically has one primary store and about 20 to 40 smaller outlets, and serves a population base of about 100,000. 
C)  cluster of stores that serve people who are within a five- to ten-minute drive and serves a population base of under 30,000. 
D)  group of 50 to 150 stores that typically attract customers who live or work within a 5- to 10-mile range, often containing two or three anchor stores. 
E)  retail cluster of stores in uptown areas.

Question 5

Briefly describe the three ways retail outlets can be classified.

Accepted Answer

Retail outlets can be classified in thre

Question 6

Franchising is attractive for the franchisee because

Accepted Answer

A)  it gives the franchisee complete control over the delivery and presentation of merchandise. 
B)  the license fees paid to the franchisor are the only fees the franchisee pays. 
C)  it relieves the franchisee from any company or product liabilities. 
D)  it offers the franchisee the opportunity to enter into a well-known, established business where managerial advice is provided. 
E)  the franchisee is completely his or her own boss. 
A)  it gives the franchisee complete control over the delivery and presentation of merchandise. 
B)  the license fees paid to the franchisor are the only fees the franchisee pays. 
C)  it relieves the franchisee from any company or product liabilities. 
D)  it offers the franchisee the opportunity to enter into a well-known, established business where managerial advice is provided. 
E)  the franchisee is completely his or her own boss.

Question 7

stores today are near several others in one of five settings: the central business district,the regional shopping center,the community shopping center,the strip mall,or the __________.

Accepted Answer

A)  rural micromall 
B)  urban megacenter 
C)  power center 
D)  exurb value center 
E)  suburban downtown 
A)  rural micromall 
B)  urban megacenter 
C)  power center 
D)  exurb value center 
E)  suburban downtown

Question 8

Retailers that integrate and leverage their stores,catalogs,and websites have seen

Accepted Answer

A)  a sizeable increase in yearly sales from individual customers. 
B)  a small increase in yearly sales from aggregate target market segments. 
C)  no difference in yearly sales from individual customers. 
D)  a decrease in yearly sales from individual customers. 
E)  a large decrease in yearly sales from individual customers. 
A)  a sizeable increase in yearly sales from individual customers. 
B)  a small increase in yearly sales from aggregate target market segments. 
C)  no difference in yearly sales from individual customers. 
D)  a decrease in yearly sales from individual customers. 
E)  a large decrease in yearly sales from individual customers.

Question 9

way neighborhood grocers can take advantage of volume discounts commonly available to chains is to

Accepted Answer

A)  purchase a franchise membership. 
B)  become a subsidiary of a larger supermarket chain like Kroger. 
C)  join a professional merchant association and hire food brokers to negotiate lower prices for produce and dry goods. 
D)  create a grocery networking system to exchange coupon vouchers. 
E)  participate in a retailer-sponsored cooperative with other independent grocers. 
A)  purchase a franchise membership. 
B)  become a subsidiary of a larger supermarket chain like Kroger. 
C)  join a professional merchant association and hire food brokers to negotiate lower prices for produce and dry goods. 
D)  create a grocery networking system to exchange coupon vouchers. 
E)  participate in a retailer-sponsored cooperative with other independent grocers.

Question 10

Walmart and Home Depot emphasize consistently low prices and eliminate most markdowns with a retail pricing strategy called

Accepted Answer

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

Question 11

every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores is usually __________.

Accepted Answer

A)  unplanned 
B)  national anchor stores 
C)  privately-owned specialty stores 
D)  fast food restaurants 
E)  amusement and theme parks 
A)  unplanned 
B)  national anchor stores 
C)  privately-owned specialty stores 
D)  fast food restaurants 
E)  amusement and theme parks

Question 12

Williams-Sonoma is a specialty store that caters to customers who want to cook at home.It offers free cooking classes,has frequent demonstrations by cookbook authors,and has employees who are knowledgeable about food preparation.The sales staff helps customers make their selections.Williams-Sonoma is a __________ retailer.

Accepted Answer

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

Question 13

increase demand for complementary products,the price of a product often is

Accepted Answer

A)  marked up. 
B)  off-priced. 
C)  marked down. 
D)  value-added. 
E)  maintained. 
A)  marked up. 
B)  off-priced. 
C)  marked down. 
D)  value-added. 
E)  maintained.

Question 14

Growth in the direct-selling industry is the result of two trends: (1)direct selling retailers are expanding into markets outside the United States and (2)

Accepted Answer

A)  increased gas prices and traffic congestion are causing people to want the store to deliver the products to them. 
B)  the pendulum is beginning to swing back to more mothers (and fathers) staying home during the day with children, making direct selling more convenient. 
C)  the purchase or lease of real estate to build an actual "brick" retail store is becoming prohibitive. 
D)  graduating business students are finding it more difficult to find a traditional sales position and like the idea of being their own bosses. 
E)  there is a growing number of companies that are using direct selling to reach consumers who prefer one-on-one customer service and a social shopping experience rather than online shopping or big discount stores. 
A)  increased gas prices and traffic congestion are causing people to want the store to deliver the products to them. 
B)  the pendulum is beginning to swing back to more mothers (and fathers) staying home during the day with children, making direct selling more convenient. 
C)  the purchase or lease of real estate to build an actual "brick" retail store is becoming prohibitive. 
D)  graduating business students are finding it more difficult to find a traditional sales position and like the idea of being their own bosses. 
E)  there is a growing number of companies that are using direct selling to reach consumers who prefer one-on-one customer service and a social shopping experience rather than online shopping or big discount stores.

Question 15

Which of the following stores are most likely to be an anchor store at a regional shopping center?

Accepted Answer

A)  Old Navy, Abercrombie & Fitch, and Kay-Bee toy store 
B)  Hickory Farms, a locally-owned jewelry store, and Radio Shack 
C)  an antique store, Dollar General, and a bakery 
D)  Sears, Macy's, and JCPenney 
E)  Hallmark shop, a sporting goods consignment store, and a Barnes & Noble bookstore 
A)  Old Navy, Abercrombie & Fitch, and Kay-Bee toy store 
B)  Hickory Farms, a locally-owned jewelry store, and Radio Shack 
C)  an antique store, Dollar General, and a bakery 
D)  Sears, Macy's, and JCPenney 
E)  Hallmark shop, a sporting goods consignment store, and a Barnes & Noble bookstore

Question 16

Growth in the direct-selling industry is the result of two trends: (1)there is a growing number of companies that are using direct selling to reach consumers who prefer one-on-one customer service and a social shopping experience rather than online shipping or big discount stores and (2)

Accepted Answer

A)  many direct selling retailers are expanding into markets outside of the United States. 
B)  increased gas prices and traffic congestion are causing people to want stores to deliver products to them. 
C)  the pendulum is beginning to swing back to more mothers (and fathers) staying home during the day with children, making direct selling more convenient. 
D)  the purchase or lease of real estate to build an actual "brick" retail store is becoming prohibitive. 
E)  graduating business students are finding it more difficult to find a traditional sales position and like the idea of being their own bosses. 
A)  many direct selling retailers are expanding into markets outside of the United States. 
B)  increased gas prices and traffic congestion are causing people to want stores to deliver products to them. 
C)  the pendulum is beginning to swing back to more mothers (and fathers) staying home during the day with children, making direct selling more convenient. 
D)  the purchase or lease of real estate to build an actual "brick" retail store is becoming prohibitive. 
E)  graduating business students are finding it more difficult to find a traditional sales position and like the idea of being their own bosses.

Question 17

a(n)__________,an individual or firm contracts with a parent company to set up a business or retail outlet.

Accepted Answer

A)  administered system 
B)  vertically integrated chain 
C)  retail-sponsored cooperative 
D)  franchise system 
E)  corporate system 
A)  administered system 
B)  vertically integrated chain 
C)  retail-sponsored cooperative 
D)  franchise system 
E)  corporate system

Question 18

Which of the following statements regarding QVC is most accurate?

Accepted Answer

A)  QVC broadcasts 12 hours a day 365 days a year. 
B)  QVC reaches approximately 195 million households in the U.S., U.K., Germany, Italy, and Japan. 
C)  QVC never offers the same product two days in a row. 
D)  QVC sells all its items by dropping the price to $1.00 regardless of the product value, if it is not sold in one day. 
E)  QVC entices customers to "stay tuned" by offering free products to random callers. 
A)  QVC broadcasts 12 hours a day 365 days a year. 
B)  QVC reaches approximately 195 million households in the U.S., U.K., Germany, Italy, and Japan. 
C)  QVC never offers the same product two days in a row. 
D)  QVC sells all its items by dropping the price to $1.00 regardless of the product value, if it is not sold in one day. 
E)  QVC entices customers to "stay tuned" by offering free products to random callers.

Question 19

Briefly describe the two general types of franchises.

Accepted Answer

Franchises can be classified in two gene

Question 20

Sales per Square Foot and Same-Store Sales Growth Marketing Dashboards
-Buy has approximately what amount of sales per square foot according to the Sales per Square Foot Marketing Dashboard above?

Accepted Answer

A)  $500 
B)  $800 
C)  $1,000 
D)  $2,000 
E)  $4,000 
A)  $500 
B)  $800 
C)  $1,000 
D)  $2,000 
E)  $4,000

Exam 16: Retailing and Wholesaling

variety of different items a store carries is referred to as the

Independently owned stores that band together to act like a chain are referred to as __________.

Which type of utility is created by online shopping?

Regional shopping centers refer to a

Briefly describe the three ways retail outlets can be classified.

Franchising is attractive for the franchisee because

stores today are near several others in one of five settings: the central business district,the regional shopping center,the community shopping center,the strip mall,or the __________.

Retailers that integrate and leverage their stores,catalogs,and websites have seen

way neighborhood grocers can take advantage of volume discounts commonly available to chains is to

Walmart and Home Depot emphasize consistently low prices and eliminate most markdowns with a retail pricing strategy called

every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores is usually __________.

increase demand for complementary products,the price of a product often is

Growth in the direct-selling industry is the result of two trends: (1)direct selling retailers are expanding into markets outside the United States and (2)

Which of the following stores are most likely to be an anchor store at a regional shopping center?

Growth in the direct-selling industry is the result of two trends: (1)there is a growing number of companies that are using direct selling to reach consumers who prefer one-on-one customer service and a social shopping experience rather than online shipping or big discount stores and (2)

a(n)__________,an individual or firm contracts with a parent company to set up a business or retail outlet.

Which of the following statements regarding QVC is most accurate?

Briefly describe the two general types of franchises.

Sales per Square Foot and Same-Store Sales Growth Marketing Dashboards -Buy has approximately what amount of sales per square foot according to the Sales per Square Foot Marketing Dashboard above?

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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