Question 1

Match each item with the correct statement below.
-_____ is the amount a retailer adds to the cost of a product to determine its selling price.

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 2

Which of the following is most likely to be an example of a mass merchandiser?

Accepted Answer

A) A trade fair owner 
B) A catalog retailer 
C) A rack jobber 
D) A convenience retailer 
A) A trade fair owner 
B) A catalog retailer 
C) A rack jobber 
D) A convenience retailer

Question 3

Beauty consultants at cosmetics counters in department stores often give customers makeovers.In addition to the makeup,the consultants discuss skin care products to improve skin texture so the makeup looks better.This type of interaction is called suggestive selling.

Accepted Answer

A) True 
 B)False

Question 4

What are the different types of agents and brokers?

Accepted Answer

Brokers and agents are a group of indepe

Question 5

Dani works in the fine fragrances sales floor in a major department store.She recently attended a mandatory training seminar in which sales personnel were coached on ways to increase sales through personal interactions with customers.Now Dani is putting what she learned to work.When customers ask her the price of a single bottle of fragrance,Dani gives them the information they want but also lets them know that for a slightly higher cost,they can purchase a gift set.The gift set contains a slightly smaller bottle of the fragrance but includes lotion and shower gel in the same scent.Since Dani started using this technique,the average value of each sale she makes has increased by 15%. Based on Dani's actions,which component of the department store's retail strategy did the training seminar focus on?​

Accepted Answer

A) ​pricing 
B) ​promotion 
C) ​merchandising 
D) ​customer service 
E) ​store atmospherics 
A) ​pricing 
B) ​promotion 
C) ​merchandising 
D) ​customer service 
E) ​store atmospherics

Question 6

In essence,a department store is a series of limited-line and specialty stores under one roof.

Accepted Answer

A) True 
 B)False

Question 7

A wide variety of services such as charge accounts,delivery,gift wrapping,and liberal return privileges are most likely to be associated with _____.

Accepted Answer

A) department stores 
B) clearing houses 
C) merchandise mart 
D) industrial distribution stores 
A) department stores 
B) clearing houses 
C) merchandise mart 
D) industrial distribution stores

Question 8

A(n)_____ stocks only designer labels or well-known brand name clothing at prices equal to or below regular wholesale prices.

Accepted Answer

A) discount store 
B) hypermarket 
C) supercenter 
D) off-price retailer 
A) discount store 
B) hypermarket 
C) supercenter 
D) off-price retailer

Question 9

_____ are increasingly taking on the role of channel captain within many distribution networks.

Accepted Answer

A) Manufacturers 
B) Large-scale retailers 
C) Consumers 
D) Suppliers 
A) Manufacturers 
B) Large-scale retailers 
C) Consumers 
D) Suppliers

Question 10

Which of the following statements is true of warehouse retailers?

Accepted Answer

A) They incur high operation costs because of the wide range of services they offer. 
B) They offer more services than department stores in return for higher priced goods. 
C) They send direct mail to their customers and sell the advertised goods from showrooms that display samples. 
D) They offer huge selection at lower prices in single product lines. 
A) They incur high operation costs because of the wide range of services they offer. 
B) They offer more services than department stores in return for higher priced goods. 
C) They send direct mail to their customers and sell the advertised goods from showrooms that display samples. 
D) They offer huge selection at lower prices in single product lines.

Question 11

What are the different types of planned shopping centers?

Accepted Answer

There are five main types of planned sho

Question 12

The combination of the retailing mix - merchandise strategy,customer service standards,pricing guidelines,target market analysis,promotion goals,location/distribution decisions and store atmosphere create a retailer's ________.​

Accepted Answer

A) ​image 
B) ​brand 
C) ​competitive position 
D) ​differential advantage 
A) ​image 
B) ​brand 
C) ​competitive position 
D) ​differential advantage

Question 13

Through direct selling,manufacturers completely bypass retailers and wholesalers and set up their own channels to sell their products directly to consumers.

Accepted Answer

A) True 
 B)False

Question 14

_____ are the retail stores that incur relatively high operating costs because of the wide range of services they offer.

Accepted Answer

A) Department stores 
B) Industrial distributing shops 
C) Merchandise marts 
D) Warehouses 
A) Department stores 
B) Industrial distributing shops 
C) Merchandise marts 
D) Warehouses

Question 15

A _____ wholesaler performs most wholesaling functions except for financing and delivery.

Accepted Answer

A) commission 
B) clearing 
C) brokering 
D) cash-and-carry 
A) commission 
B) clearing 
C) brokering 
D) cash-and-carry

Question 16

Which of the following is true of mail-order wholesalers?

Accepted Answer

A) Their main aim is to bring buyers and sellers together. 
B) They carry no inventory, provide no credit, and do not take title to the goods. 
C) They often serve relatively small customers in outlying areas. 
D) They comprise a large percentage of full-function merchant wholesalers. 
A) Their main aim is to bring buyers and sellers together. 
B) They carry no inventory, provide no credit, and do not take title to the goods. 
C) They often serve relatively small customers in outlying areas. 
D) They comprise a large percentage of full-function merchant wholesalers.

Question 17

Convenience retail stores attract consumers by providing easy access,extended store hours,and adequate parking facilities.

Accepted Answer

A) True 
 B)False

Question 18

In the context of independent wholesaling intermediaries,which of the following statements is true regarding agents and brokers?

Accepted Answer

A) They provide a production facility to a manufacturer on rent. 
B) They help a manufacturer in designing a new product. 
C) They never take title of the goods that they handle. 
D) They buy products from a truck jobber and sell it through the orders placed on the Internet. 
A) They provide a production facility to a manufacturer on rent. 
B) They help a manufacturer in designing a new product. 
C) They never take title of the goods that they handle. 
D) They buy products from a truck jobber and sell it through the orders placed on the Internet.

Question 19

Which of the following industries is most likely to be served by a limited-function wholesaler?

Accepted Answer

A) Oil industry 
B) Petrochemical industry 
C) Sporting goods industry 
D) Aviation industry 
A) Oil industry 
B) Petrochemical industry 
C) Sporting goods industry 
D) Aviation industry

Question 20

Wholesaling intermediaries create place utility by:

Accepted Answer

A) extending credit to product manufacturers. 
B) helping deliver goods and services for purchase at convenient locations. 
C) providing a sales force to call upon potential suppliers. 
D) offering a round-the-clock customer helpline. 
A) extending credit to product manufacturers. 
B) helping deliver goods and services for purchase at convenient locations. 
C) providing a sales force to call upon potential suppliers. 
D) offering a round-the-clock customer helpline.

Match each item with the correct statement below. -_____ is the amount a retailer adds to the cost of a product to determine its selling price.

Which of the following is most likely to be an example of a mass merchandiser?

Beauty consultants at cosmetics counters in department stores often give customers makeovers.In addition to the makeup,the consultants discuss skin care products to improve skin texture so the makeup looks better.This type of interaction is called suggestive selling.

What are the different types of agents and brokers?

In essence,a department store is a series of limited-line and specialty stores under one roof.

A wide variety of services such as charge accounts,delivery,gift wrapping,and liberal return privileges are most likely to be associated with _____.

A(n)_____ stocks only designer labels or well-known brand name clothing at prices equal to or below regular wholesale prices.

_____ are increasingly taking on the role of channel captain within many distribution networks.

Which of the following statements is true of warehouse retailers?

What are the different types of planned shopping centers?

The combination of the retailing mix - merchandise strategy,customer service standards,pricing guidelines,target market analysis,promotion goals,location/distribution decisions and store atmosphere create a retailer's ________.

Through direct selling,manufacturers completely bypass retailers and wholesalers and set up their own channels to sell their products directly to consumers.

_____ are the retail stores that incur relatively high operating costs because of the wide range of services they offer.

A _____ wholesaler performs most wholesaling functions except for financing and delivery.

Which of the following is true of mail-order wholesalers?

Convenience retail stores attract consumers by providing easy access,extended store hours,and adequate parking facilities.

In the context of independent wholesaling intermediaries,which of the following statements is true regarding agents and brokers?

Which of the following industries is most likely to be served by a limited-function wholesaler?

Wholesaling intermediaries create place utility by:

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

Match each item with the correct statement below. -_____ is the amount a retailer adds to the cost of a product to determine its selling price.

Which of the following is most likely to be an example of a mass merchandiser?

Beauty consultants at cosmetics counters in department stores often give customers makeovers.In addition to the makeup,the consultants discuss skin care products to improve skin texture so the makeup looks better.This type of interaction is called suggestive selling.

What are the different types of agents and brokers?

In essence,a department store is a series of limited-line and specialty stores under one roof.

A wide variety of services such as charge accounts,delivery,gift wrapping,and liberal return privileges are most likely to be associated with _____.

A(n)_____ stocks only designer labels or well-known brand name clothing at prices equal to or below regular wholesale prices.

_____ are increasingly taking on the role of channel captain within many distribution networks.

Which of the following statements is true of warehouse retailers?

What are the different types of planned shopping centers?

The combination of the retailing mix - merchandise strategy,customer service standards,pricing guidelines,target market analysis,promotion goals,location/distribution decisions and store atmosphere create a retailer's ________.​

Through direct selling,manufacturers completely bypass retailers and wholesalers and set up their own channels to sell their products directly to consumers.

_____ are the retail stores that incur relatively high operating costs because of the wide range of services they offer.

A _____ wholesaler performs most wholesaling functions except for financing and delivery.

Which of the following is true of mail-order wholesalers?

Convenience retail stores attract consumers by providing easy access,extended store hours,and adequate parking facilities.

In the context of independent wholesaling intermediaries,which of the following statements is true regarding agents and brokers?

Which of the following industries is most likely to be served by a limited-function wholesaler?

Wholesaling intermediaries create place utility by:

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

The combination of the retailing mix - merchandise strategy,customer service standards,pricing guidelines,target market analysis,promotion goals,location/distribution decisions and store atmosphere create a retailer's ________.