Question 1

Best Buy has approximately what amount of sales per square foot according to the UMD16A: Sales per Square Foot Marketing Dashboard above?

Accepted Answer

A) $300 
B) $600 
C) $900 
D) $3,500 
E) $5,400 
A) $300 
B) $600 
C) $900 
D) $3,500 
E) $5,400

Question 2

The selling of brand name merchandise at lower than regular prices is referred to as __________.

Accepted Answer

A) discount pricing 
B) everyday low pricing 
C) markdown pricing 
D) off-price retailing 
E) loss-leader pricing 
A) discount pricing 
B) everyday low pricing 
C) markdown pricing 
D) off-price retailing 
E) loss-leader pricing

Question 3

One of the biggest problems online retailers face is that nearly __________ of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.

Accepted Answer

A) 16% 
B) 26% 
C) 36% 
D) 56% 
E) 66% 
A) 16% 
B) 26% 
C) 36% 
D) 56% 
E) 66%

Question 4

Most stores today are near several others in one of five settings that include all of the following EXCEPT:

Accepted Answer

A) the regional shopping center. 
B) the strip mall. 
C) the uptown shopping center. 
D) the community shopping center. 
E) the power center. 
A) the regional shopping center. 
B) the strip mall. 
C) the uptown shopping center. 
D) the community shopping center. 
E) the power center.

Question 5

Boston Pizza wants to determine how effective their retail space is compared to other pizza establishments in the local area.The calculation for this indicator is arrived at by determining the __________ for its store and comparing it against the same indicator for all of the other local pizza outlets.

Accepted Answer

A) gross margin 
B) same-store sales growth 
C) sales per square foot 
D) net profit 
E) net present value 
A) gross margin 
B) same-store sales growth 
C) sales per square foot 
D) net profit 
E) net present value

Question 6

The 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 7

In Europe,stores called __________ are based on the concept of one-stop shopping for consumers.Such retail stores,which use scrambled merchandising,typically encompass over 200,000 square feet of floor space 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

Question 8

Which of the following statements regarding managing the customer experience is MOST ACCURATE?

Accepted Answer

A) As more women enter the upper levels of industry,retailers are paying less attention to men and their shopping behavior. 
B) Some mass merchandisers are considering "man aisles" to appeal to male shoppers. 
C) Men will shop for electronics but leave the majority of their clothing shopping to their wives. 
D) Making the retail environment a sparse one appeals to male shoppers who value efficiency. 
E) Men prefer to shop in a social environment so they can avoid shopping alone at all costs. 
A) As more women enter the upper levels of industry,retailers are paying less attention to men and their shopping behavior. 
B) Some mass merchandisers are considering "man aisles" to appeal to male shoppers. 
C) Men will shop for electronics but leave the majority of their clothing shopping to their wives. 
D) Making the retail environment a sparse one appeals to male shoppers who value efficiency. 
E) Men prefer to shop in a social environment so they can avoid shopping alone at all costs.

Question 9

One method of classification describes whether a retailer is self-,limited-,or full-__________.

Accepted Answer

A) involvement 
B) assortment 
C) management 
D) service 
E) ownership 
A) involvement 
B) assortment 
C) management 
D) service 
E) ownership

Question 10

In the late 1950s,Pierre Martineau described __________ as "the way in which the store is defined in the shopper's mind."

Accepted Answer

A) size 
B) location 
C) product mix 
D) image 
E) anchor store 
A) size 
B) location 
C) product mix 
D) image 
E) anchor store

Question 11

Which of the following firms has made the wisest wholesaler choice for its product?

Accepted Answer

A) Sam's Coal Country uses a drop shipper for its coal. 
B) Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs. 
C) Hannah's Hardware uses a rack jobber for its hinges. 
D) Shayna's Superior Supplies uses a desk jobber for its staplers. 
E) Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights. 
A) Sam's Coal Country uses a drop shipper for its coal. 
B) Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs. 
C) Hannah's Hardware uses a rack jobber for its hinges. 
D) Shayna's Superior Supplies uses a desk jobber for its staplers. 
E) Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights.

Question 12

The complementary role of different communication and delivery channels is referred to as

Accepted Answer

A) the cumulative effect. 
B) the primary effect. 
C) the cross-over effect. 
D) the complementary effect. 
E) the influence effect. 
A) the cumulative effect. 
B) the primary effect. 
C) the cross-over effect. 
D) the complementary effect. 
E) the influence effect.

Question 13

Which quadrant shown in Figure 16-8 above MOST LIKELY are retailers that pay great attention to store design and product lines,whose merchandise often has a high margin of profit and is of high quality,and whose stores typically provide high levels of service?

Accepted Answer

A) "A" 
B) "B" 
C) "C" 
D) "D" 
E) Can't be determined based on the information provided. 
A) "A" 
B) "B" 
C) "C" 
D) "D" 
E) Can't be determined based on the information provided.

Question 14

A manufacturer's sales office

Accepted Answer

A) works for several producers and carries noncompetitive,complementary merchandise in an exclusive territory. 
B) takes title to merchandise but sells only to buyers who call on them,pays cash for merchandise,and furnishes their own transportation for the merchandise. 
C) carries a producer's inventory,performs the functions of a full-service wholesaler and is an alternative to a merchant wholesaler. 
D) does not carry inventory,typically performs a sales function,and is an alternative to agents and brokers. 
E) brings buyers and sellers together to make sales. 
A) works for several producers and carries noncompetitive,complementary merchandise in an exclusive territory. 
B) takes title to merchandise but sells only to buyers who call on them,pays cash for merchandise,and furnishes their own transportation for the merchandise. 
C) carries a producer's inventory,performs the functions of a full-service wholesaler and is an alternative to a merchant wholesaler. 
D) does not carry inventory,typically performs a sales function,and is an alternative to agents and brokers. 
E) brings buyers and sellers together to make sales.

Question 15

An indicator used to compare the increase in sales of stores that have been open for the same period of time is called

Accepted Answer

A) market share of each store. 
B) same-store sales growth. 
C) sales per square foot of each store. 
D) gross sales per store. 
E) net profit per store. 
A) market share of each store. 
B) same-store sales growth. 
C) sales per square foot of each store. 
D) gross sales per store. 
E) net profit per store.

Question 16

Albertson's Supermarket accepts debit and credit cards as well as cash and checks for purchases.Its acceptance of various forms of payment provides its customers with __________ utility.

Accepted Answer

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

Question 17

A Woman's Place is a retail store,created and staffed by women,that offers products and services relating to maternity needs.For expectant mothers,it offers advice and personal shopping services,help with hair and/or make-up problems,and free delivery.A Woman's Place is an example of a(n)__________ retailer.

Accepted Answer

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

Question 18

Organizations that decide to franchise (franchisors)have __________ expansion costs accompanied by __________ control,compared to owning their own retail outlets.

Accepted Answer

A) greater;greater 
B) reduced;reduced 
C) greater;reduced 
D) reduced;greater 
E) greater;about the same 
A) greater;greater 
B) reduced;reduced 
C) greater;reduced 
D) reduced;greater 
E) greater;about the same

Question 19

An 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 20

A form of ownership that involves multiple outlets under common ownership is referred to as a(n)

Accepted Answer

A) corporate chain. 
B) consumer cooperative. 
C) contractual system. 
D) independent retailer. 
E) administered system. 
A) corporate chain. 
B) consumer cooperative. 
C) contractual system. 
D) independent retailer. 
E) administered system.

Exam 16: Retailing and Wholesaling

Best Buy has approximately what amount of sales per square foot according to the UMD16A: Sales per Square Foot Marketing Dashboard above?

The selling of brand name merchandise at lower than regular prices is referred to as __________.

One of the biggest problems online retailers face is that nearly __________ of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.

Most stores today are near several others in one of five settings that include all of the following EXCEPT:

The four stages of the retail life cycle are

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

Which of the following statements regarding managing the customer experience is MOST ACCURATE?

One method of classification describes whether a retailer is self-,limited-,or full-__________.

In the late 1950s,Pierre Martineau described __________ as "the way in which the store is defined in the shopper's mind."

Which of the following firms has made the wisest wholesaler choice for its product?

The complementary role of different communication and delivery channels is referred to as

Which quadrant shown in Figure 16-8 above MOST LIKELY are retailers that pay great attention to store design and product lines,whose merchandise often has a high margin of profit and is of high quality,and whose stores typically provide high levels of service?

A manufacturer's sales office

An indicator used to compare the increase in sales of stores that have been open for the same period of time is called

Albertson's Supermarket accepts debit and credit cards as well as cash and checks for purchases.Its acceptance of various forms of payment provides its customers with __________ utility.

Organizations that decide to franchise (franchisors)have __________ expansion costs accompanied by __________ control,compared to owning their own retail outlets.

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

A form of ownership that involves multiple outlets under common ownership is referred to as a(n)

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility in 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 to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Building an Effective Marketing Plan

Financial Aspects of Marketing

Filters

Organizations that decide to franchise (franchisors)have expansion costs accompanied by control,compared to owning their own retail outlets.