Question 1

Specialty retailers typically attract customers by offering the products at the lowest possible prices.

Accepted Answer

A) True 
 B)False

Question 2

Match each item with the correct statement below.
-A(n)_____ is a large store that combines groceries with discount store merchandise.

Accepted Answer

A) stock-keeping unit (SKU) 
B) markup 
C) markdown 
D) retail convergence 
E) scrambled merchandising
F)atmospherics
G)broker
H)general merchandise retailer
I)category killer
J)rack jobber
K)supercenter
L)auction house
M)specialty store
N)retailers
O)mass merchandiser
P)truck jobber
Q)direct marketing
R)drop shipper
S)planned shopping center
T)wheel of retailing 
A) stock-keeping unit (SKU) 
B) markup 
C) markdown 
D) retail convergence 
E) scrambled merchandising
F)atmospherics
G)broker
H)general merchandise retailer
I)category killer
J)rack jobber
K)supercenter
L)auction house
M)specialty store
N)retailers
O)mass merchandiser
P)truck jobber
Q)direct marketing
R)drop shipper
S)planned shopping center
T)wheel of retailing

Question 3

_____ are groups of retail outlets that operate under central ownership and management and handle the same product lines.

Accepted Answer

A) Specialty stores 
B) Chain stores 
C) Variety stores 
D) Department stores 
A) Specialty stores 
B) Chain stores 
C) Variety stores 
D) Department stores

Question 4

​Some supermarkets now offer in-store bank branches,photography studios,and Starbucks or Dunkin' Donuts outlets.This is an example of:

Accepted Answer

A) ​Retail convergence 
B) ​Scrambled merchandising 
C) ​Hypermarkets 
D) ​Supercenters 
E) ​Direct marketing 
A) ​Retail convergence 
B) ​Scrambled merchandising 
C) ​Hypermarkets 
D) ​Supercenters 
E) ​Direct marketing

Question 5

The retail stores in a planned shopping center maintain uniform hours of operation,including evening and weekend hours.

Accepted Answer

A) True 
 B)False

Question 6

Drop shippers take title to the goods but never physically handle or even see the merchandise.

Accepted Answer

A) True 
 B)False

Question 7

Macy's focuses on fashion-oriented merchandise,backed by a complete array of customer services.Hence,Macy's can be regarded as a:

Accepted Answer

A) self-selection retailer. 
B) full-service retailer. 
C) self-service retailer. 
D) partial-assistance retailer. 
A) self-selection retailer. 
B) full-service retailer. 
C) self-service retailer. 
D) partial-assistance retailer.

Question 8

Match each item with the correct statement below.
-To identify varying items within a product line,retailers refer to a specific product offering as a(n)_____.

Accepted Answer

A) stock-keeping unit (SKU) 
B) markup 
C) markdown 
D) retail convergence 
E) scrambled merchandising
F)atmospherics
G)broker
H)general merchandise retailer
I)category killer
J)rack jobber
K)supercenter
L)auction house
M)specialty store
N)retailers
O)mass merchandiser
P)truck jobber
Q)direct marketing
R)drop shipper
S)planned shopping center
T)wheel of retailing 
A) stock-keeping unit (SKU) 
B) markup 
C) markdown 
D) retail convergence 
E) scrambled merchandising
F)atmospherics
G)broker
H)general merchandise retailer
I)category killer
J)rack jobber
K)supercenter
L)auction house
M)specialty store
N)retailers
O)mass merchandiser
P)truck jobber
Q)direct marketing
R)drop shipper
S)planned shopping center
T)wheel of retailing

Question 9

Which of the following is an example of scrambled merchandising?

Accepted Answer

A) A supermarket carrying canned goods, fresh fish, tropical fruits, and bulk grains 
B) A jewelry store carrying rings, watches, TVs, electronic games, and DVDs 
C) A drug store carrying prescription drugs, over-the-counter medications, and health care items 
D) A shoe store carrying shoes, shoe polish, socks, and leather bags 
A) A supermarket carrying canned goods, fresh fish, tropical fruits, and bulk grains 
B) A jewelry store carrying rings, watches, TVs, electronic games, and DVDs 
C) A drug store carrying prescription drugs, over-the-counter medications, and health care items 
D) A shoe store carrying shoes, shoe polish, socks, and leather bags

Question 10

Match each item with the correct statement below.
-A(n)_____ is a group of retail stores designed,coordinated,and marketed to shoppers in a geographic trade area.

Accepted Answer

A) stock-keeping unit (SKU) 
B) markup 
C) markdown 
D) retail convergence 
E) scrambled merchandising
F)atmospherics
G)broker
H)general merchandise retailer
I)category killer
J)rack jobber
K)supercenter
L)auction house
M)specialty store
N)retailers
O)mass merchandiser
P)truck jobber
Q)direct marketing
R)drop shipper
S)planned shopping center
T)wheel of retailing 
A) stock-keeping unit (SKU) 
B) markup 
C) markdown 
D) retail convergence 
E) scrambled merchandising
F)atmospherics
G)broker
H)general merchandise retailer
I)category killer
J)rack jobber
K)supercenter
L)auction house
M)specialty store
N)retailers
O)mass merchandiser
P)truck jobber
Q)direct marketing
R)drop shipper
S)planned shopping center
T)wheel of retailing

Question 11

What types of utility are created by wholesaling intermediaries when they make a product available at a convenient location at the moment it is needed by the customer?

Accepted Answer

A) Possession and location 
B) Ownership and form 
C) Place and time 
D) Time and possession 
A) Possession and location 
B) Ownership and form 
C) Place and time 
D) Time and possession

Question 12

A _____ is an agent wholesaling intermediary that represents manufacturers of related but noncompeting products and receives a commission on each sale.

Accepted Answer

A) manufacturers' merchant 
B) selling agent 
C) manufacturers' agent 
D) clearing agent 
A) manufacturers' merchant 
B) selling agent 
C) manufacturers' agent 
D) clearing agent

Question 13

Merchant wholesalers are a class of wholesaling intermediaries who do not take title to the goods they handle.

Accepted Answer

A) True 
 B)False

Question 14

A cash-and-carry wholesaler performs most wholesaling functions including financing and delivery.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following independent wholesaling intermediaries ranks as a relatively high-cost intermediary because of the number of services it performs?

Accepted Answer

A) Rack jobber 
B) Drop shipper 
C) Mail-order wholesaler 
D) Cash-and-carry wholesaler 
A) Rack jobber 
B) Drop shipper 
C) Mail-order wholesaler 
D) Cash-and-carry wholesaler

Question 16

Which of the following terms refers to the combination of physical characteristics and amenities that contribute to a store's image?

Accepted Answer

A) Atmospherics 
B) Simulation 
C) Tableaux 
D) Logistics 
A) Atmospherics 
B) Simulation 
C) Tableaux 
D) Logistics

Question 17

Match each item with the correct statement below.
-_____ describes a situation in which similar merchandise is available from multiple retail outlets distinguished by price more than any other factor.

Accepted Answer

A) stock-keeping unit (SKU) 
B) markup 
C) markdown 
D) retail convergence 
E) scrambled merchandising
F)atmospherics
G)broker
H)general merchandise retailer
I)category killer
J)rack jobber
K)supercenter
L)auction house
M)specialty store
N)retailers
O)mass merchandiser
P)truck jobber
Q)direct marketing
R)drop shipper
S)planned shopping center
T)wheel of retailing 
A) stock-keeping unit (SKU) 
B) markup 
C) markdown 
D) retail convergence 
E) scrambled merchandising
F)atmospherics
G)broker
H)general merchandise retailer
I)category killer
J)rack jobber
K)supercenter
L)auction house
M)specialty store
N)retailers
O)mass merchandiser
P)truck jobber
Q)direct marketing
R)drop shipper
S)planned shopping center
T)wheel of retailing

Question 18

Which of the following statements best describes the impact of Internet technology on the retail sector?​

Accepted Answer

A) ​Internet-based retailers with virtual storefronts have started to replace traditional retailers. 
B) ​Traditional brick-and-mortar retailers have expanded and thrived by incorporating Internet retail. 
C) ​Internet technology has led to better communication between manufacturers and retailers, making wholesalers less relevant. 
D) ​Traditional brick-and-mortar and direct retailers have suffered declines because Internet retail is friendlier to the environment. 
E) ​Internet technology has allowed retailers to offer many products at lower prices, but has also had negative effects on the development of retailer-customer relationships. 
A) ​Internet-based retailers with virtual storefronts have started to replace traditional retailers. 
B) ​Traditional brick-and-mortar retailers have expanded and thrived by incorporating Internet retail. 
C) ​Internet technology has led to better communication between manufacturers and retailers, making wholesalers less relevant. 
D) ​Traditional brick-and-mortar and direct retailers have suffered declines because Internet retail is friendlier to the environment. 
E) ​Internet technology has allowed retailers to offer many products at lower prices, but has also had negative effects on the development of retailer-customer relationships.

Question 19

Differentiate between a wholesaler and a wholesaling intermediary.

Accepted Answer

A wholesaler is a marketing intermediary

Question 20

Dmitri recently opened a sporting goods store.There are several other sporting goods stores in his town,all of which have been open for several years.These rival businesses offer reasonably priced goods as well as such "extras" as appointments with equipment consultants,in-house equipment personalization,and special ordering of items not included in the regular store inventory.Dmitri knows that he needs to make his new business stand out if it is going to compete successfully with the established businesses. According to the wheel of retailing,what strategy would help Dmitri gain a foothold for his business in the local sporting goods market?​

Accepted Answer

A) ​offer a service that none of his rivals offer 
B) ​offer limited services and lower prices than his rivals 
C) ​offer the same services as his rivals and lower his prices 
D) ​offer exactly the same product prices and services as his rivals 
E) ​offer products and services that are slightly different from those of his rivals 
A) ​offer a service that none of his rivals offer 
B) ​offer limited services and lower prices than his rivals 
C) ​offer the same services as his rivals and lower his prices 
D) ​offer exactly the same product prices and services as his rivals 
E) ​offer products and services that are slightly different from those of his rivals

Specialty retailers typically attract customers by offering the products at the lowest possible prices.

Match each item with the correct statement below. -A(n)_____ is a large store that combines groceries with discount store merchandise.

_____ are groups of retail outlets that operate under central ownership and management and handle the same product lines.

Some supermarkets now offer in-store bank branches,photography studios,and Starbucks or Dunkin' Donuts outlets.This is an example of:

The retail stores in a planned shopping center maintain uniform hours of operation,including evening and weekend hours.

Drop shippers take title to the goods but never physically handle or even see the merchandise.

Macy's focuses on fashion-oriented merchandise,backed by a complete array of customer services.Hence,Macy's can be regarded as a:

Match each item with the correct statement below. -To identify varying items within a product line,retailers refer to a specific product offering as a(n)_____.

Which of the following is an example of scrambled merchandising?

Match each item with the correct statement below. -A(n)_____ is a group of retail stores designed,coordinated,and marketed to shoppers in a geographic trade area.

What types of utility are created by wholesaling intermediaries when they make a product available at a convenient location at the moment it is needed by the customer?

A _____ is an agent wholesaling intermediary that represents manufacturers of related but noncompeting products and receives a commission on each sale.

Merchant wholesalers are a class of wholesaling intermediaries who do not take title to the goods they handle.

A cash-and-carry wholesaler performs most wholesaling functions including financing and delivery.

Which of the following independent wholesaling intermediaries ranks as a relatively high-cost intermediary because of the number of services it performs?

Which of the following terms refers to the combination of physical characteristics and amenities that contribute to a store's image?

Match each item with the correct statement below. -_____ describes a situation in which similar merchandise is available from multiple retail outlets distinguished by price more than any other factor.

Which of the following statements best describes the impact of Internet technology on the retail sector?

Differentiate between a wholesaler and a wholesaling intermediary.

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-To-Business B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

Relationship Marketing and Customer Relationship Management Crm

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Integrated Marketing Communications, advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Exam 15: Retailers, wholesalers, and Direct Marketers

Specialty retailers typically attract customers by offering the products at the lowest possible prices.

Match each item with the correct statement below. -A(n)_____ is a large store that combines groceries with discount store merchandise.

_____ are groups of retail outlets that operate under central ownership and management and handle the same product lines.

​Some supermarkets now offer in-store bank branches,photography studios,and Starbucks or Dunkin' Donuts outlets.This is an example of:

The retail stores in a planned shopping center maintain uniform hours of operation,including evening and weekend hours.

Drop shippers take title to the goods but never physically handle or even see the merchandise.

Macy's focuses on fashion-oriented merchandise,backed by a complete array of customer services.Hence,Macy's can be regarded as a:

Match each item with the correct statement below. -To identify varying items within a product line,retailers refer to a specific product offering as a(n)_____.

Which of the following is an example of scrambled merchandising?

Match each item with the correct statement below. -A(n)_____ is a group of retail stores designed,coordinated,and marketed to shoppers in a geographic trade area.

What types of utility are created by wholesaling intermediaries when they make a product available at a convenient location at the moment it is needed by the customer?

A _____ is an agent wholesaling intermediary that represents manufacturers of related but noncompeting products and receives a commission on each sale.

Merchant wholesalers are a class of wholesaling intermediaries who do not take title to the goods they handle.

A cash-and-carry wholesaler performs most wholesaling functions including financing and delivery.

Which of the following independent wholesaling intermediaries ranks as a relatively high-cost intermediary because of the number of services it performs?

Which of the following terms refers to the combination of physical characteristics and amenities that contribute to a store's image?

Match each item with the correct statement below. -_____ describes a situation in which similar merchandise is available from multiple retail outlets distinguished by price more than any other factor.

Which of the following statements best describes the impact of Internet technology on the retail sector?​

Differentiate between a wholesaler and a wholesaling intermediary.

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-To-Business B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

Relationship Marketing and Customer Relationship Management Crm

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Integrated Marketing Communications, advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Some supermarkets now offer in-store bank branches,photography studios,and Starbucks or Dunkin' Donuts outlets.This is an example of:

Which of the following statements best describes the impact of Internet technology on the retail sector?