Question 1

Sam's Club and Costco are examples of __________.

Accepted Answer

A) supercenters 
B) hypermarkets 
C) warehouse clubs 
D) single-price retailers 
E) outlet stores 
A) supercenters 
B) hypermarkets 
C) warehouse clubs 
D) single-price retailers 
E) outlet stores

Question 2

Online retail purchases by consumers can be the result of several very different approaches,which include: (1)using a shopping "bot" to search for a product at locations with the best price; (2)participating in an online auction; (3)going directly to online malls;and (4)

Accepted Answer

A) paying dues to become a member of an online discount service. 
B) becoming a secret shopper. 
C) participating in a buying cooperative. 
D) using direct selling. 
E) becoming a member of a research group that evaluates new products. 
A) paying dues to become a member of an online discount service. 
B) becoming a secret shopper. 
C) participating in a buying cooperative. 
D) using direct selling. 
E) becoming a member of a research group that evaluates new products.

Question 3

Victoria's Secret,a nationwide chain,carries great depth in women's lingerie-and almost no other products.Victoria's Secret is an example of a(n)__________.

Accepted Answer

A) limited-line store 
B) single-line store 
C) intertype outlet 
D) general merchandise store 
E) scrambled merchandise store 
A) limited-line store 
B) single-line store 
C) intertype outlet 
D) general merchandise store 
E) scrambled merchandise store

Question 4

What is the value of retailing for consumers and the economy?

Accepted Answer

Retailing is an important marketing acti

Question 5

There are three general forms of retail ownership: contractual system,independent retailer,and __________.

Accepted Answer

A) dual ownership 
B) industry consortium 
C) retailing cooperative 
D) multi-national cartel 
E) corporate chain 
A) dual ownership 
B) industry consortium 
C) retailing cooperative 
D) multi-national cartel 
E) corporate chain

Question 6

According to the retail life cycle,in which stage would market share rise gradually,although profits may be low because of start-up costs?

Accepted Answer

A) decline 
B) maturity 
C) introduction 
D) accelerated development 
E) early growth 
A) decline 
B) maturity 
C) introduction 
D) accelerated development 
E) early growth

Question 7

Explain the difference between full-service and limited-service merchant wholesalers.List and describe the types of wholesalers that belong in each category.

Accepted Answer

Merchant wholesalers are classified eith

Question 8

Wells Fargo is one of the best-run banks in the United States.It reaches retail customers through 9,000 stores,a worldwide network of 12,000 ATMs,and its online banking service.Which utility does Wells Fargo best provide?

Accepted Answer

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

Question 9

Which of the following statements BEST DESCRIBES the key difference between merchant wholesalers and agents and brokers?

Accepted Answer

A) Merchant wholesalers don't perform all channel functions whereas agents and brokers do. 
B) Agents and brokers only deal with consumer channels. 
C) Agents and brokers make their profits based on the sales of merchandise they own,while merchant wholesalers make profits based on fees paid for their services. 
D) Merchant wholesalers take title to merchandise whereas agents and brokers do not. 
E) Agents and brokers take title to merchandise whereas merchant wholesalers do not. 
A) Merchant wholesalers don't perform all channel functions whereas agents and brokers do. 
B) Agents and brokers only deal with consumer channels. 
C) Agents and brokers make their profits based on the sales of merchandise they own,while merchant wholesalers make profits based on fees paid for their services. 
D) Merchant wholesalers take title to merchandise whereas agents and brokers do not. 
E) Agents and brokers take title to merchandise whereas merchant wholesalers do not.

Question 10

Which of the following retailers would best fit in "B" shown in Figure 16-8 above?

Accepted Answer

A) Kmart 
B) Payless ShoeSource 
C) Bloomingdales department store 
D) 7-Eleven 
E) Lamborghini automobile dealer 
A) Kmart 
B) Payless ShoeSource 
C) Bloomingdales department store 
D) 7-Eleven 
E) Lamborghini automobile dealer

Question 11

The Mall of America is an example of which type of setting for a store location?

Accepted Answer

A) central business district 
B) regional shopping center 
C) community shopping center 
D) strip mall 
E) power center 
A) central business district 
B) regional shopping center 
C) community shopping center 
D) strip mall 
E) power center

Question 12

In 2012,online sales accounted for __________ of all retail sales.

Accepted Answer

A) 1 percent 
B) 2 percent 
C) 5 percent 
D) 10 percent 
E) 20 percent 
A) 1 percent 
B) 2 percent 
C) 5 percent 
D) 10 percent 
E) 20 percent

Question 13

Rack jobbers refer to wholesalers who

Accepted Answer

A) furnish the shelves that display merchandise in retail stores,perform all channel functions,and sell on consignment to retailers. 
B) own the merchandise they sell and have retailers store it in their warehouses. 
C) own the merchandise they sell but do not physically handle,stock,or deliver it. 
D) have a small warehouse from which they stock their trucks for distribution to retailers. 
E) work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory. 
A) furnish the shelves that display merchandise in retail stores,perform all channel functions,and sell on consignment to retailers. 
B) own the merchandise they sell and have retailers store it in their warehouses. 
C) own the merchandise they sell but do not physically handle,stock,or deliver it. 
D) have a small warehouse from which they stock their trucks for distribution to retailers. 
E) work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory.

Question 14

Bakery items,dairy products,and meat that are sold for cash in their original packages are traditionally sold by which type of wholesaler?

Accepted Answer

A) rack jobbers 
B) drop shippers 
C) cash and carry wholesalers 
D) truck jobbers 
E) general merchandise wholesalers 
A) rack jobbers 
B) drop shippers 
C) cash and carry wholesalers 
D) truck jobbers 
E) general merchandise wholesalers

Question 15

Because consumers often use price as an indicator of product quality,what decision factor becomes important in this situation?

Accepted Answer

A) perceived quality 
B) product benefits 
C) convenience 
D) brand name of the product 
E) maintained price 
A) perceived quality 
B) product benefits 
C) convenience 
D) brand name of the product 
E) maintained price

Question 16

The retailing mix includes all of the following EXCEPT:

Accepted Answer

A) merchandise. 
B) target market. 
C) retail pricing. 
D) store location. 
E) retail communication. 
A) merchandise. 
B) target market. 
C) retail pricing. 
D) store location. 
E) retail communication.

Question 17

The three basic types of contractual systems are:

Accepted Answer

A) retailer-sponsored cooperatives,wholesaler-sponsored voluntary chains,and franchises. 
B) dual ownership agreements,industry consortiums,and non-binding cooperatives. 
C) wholesaler-sponsored voluntary chains,non-binding cooperatives,and franchises. 
D) dual ownership agreements,industry consortiums,and multi-national cartels. 
E) non-binding,binding,and in perpetuity. 
A) retailer-sponsored cooperatives,wholesaler-sponsored voluntary chains,and franchises. 
B) dual ownership agreements,industry consortiums,and non-binding cooperatives. 
C) wholesaler-sponsored voluntary chains,non-binding cooperatives,and franchises. 
D) dual ownership agreements,industry consortiums,and multi-national cartels. 
E) non-binding,binding,and in perpetuity.

Question 18

Fresh-cut flowers that only used to be available from florists can now be purchased at neighborhood supermarkets.This is an example of __________.

Accepted Answer

A) dysfunctional competition 
B) mixed-line merchandising 
C) multi-product marketing 
D) intertype competition 
E) dual distribution 
A) dysfunctional competition 
B) mixed-line merchandising 
C) multi-product marketing 
D) intertype competition 
E) dual distribution

Question 19

Higher paper costs,increased postage rates,the growing interest in do-not-mail legislation,and concern for "green" mailings have resulted in

Accepted Answer

A) a switch to online catalogs and direct-to-customer e-mail advertisements. 
B) a focus on proven rather than prospective customers. 
C) the use of thinner,lightweight paper products. 
D) the banning of "junk" mail by a growing number of environmentally-concerned communities. 
E) a resurgence in non-automated telemarketing. 
A) a switch to online catalogs and direct-to-customer e-mail advertisements. 
B) a focus on proven rather than prospective customers. 
C) the use of thinner,lightweight paper products. 
D) the banning of "junk" mail by a growing number of environmentally-concerned communities. 
E) a resurgence in non-automated telemarketing.

Question 20

Why are vending machine prices often higher than those in a retail store?

Accepted Answer

Vending machine maintenance,op

Exam 16: Retailing and Wholesaling

Sam's Club and Costco are examples of __________.

Online retail purchases by consumers can be the result of several very different approaches,which include: (1)using a shopping "bot" to search for a product at locations with the best price; (2)participating in an online auction; (3)going directly to online malls;and (4)

Victoria's Secret,a nationwide chain,carries great depth in women's lingerie-and almost no other products.Victoria's Secret is an example of a(n)__________.

What is the value of retailing for consumers and the economy?

There are three general forms of retail ownership: contractual system,independent retailer,and __________.

According to the retail life cycle,in which stage would market share rise gradually,although profits may be low because of start-up costs?

Explain the difference between full-service and limited-service merchant wholesalers.List and describe the types of wholesalers that belong in each category.

Wells Fargo is one of the best-run banks in the United States.It reaches retail customers through 9,000 stores,a worldwide network of 12,000 ATMs,and its online banking service.Which utility does Wells Fargo best provide?

Which of the following statements BEST DESCRIBES the key difference between merchant wholesalers and agents and brokers?

Which of the following retailers would best fit in "B" shown in Figure 16-8 above?

The Mall of America is an example of which type of setting for a store location?

In 2012,online sales accounted for __________ of all retail sales.

Rack jobbers refer to wholesalers who

Bakery items,dairy products,and meat that are sold for cash in their original packages are traditionally sold by which type of wholesaler?

Because consumers often use price as an indicator of product quality,what decision factor becomes important in this situation?

The retailing mix includes all of the following EXCEPT:

The three basic types of contractual systems are:

Fresh-cut flowers that only used to be available from florists can now be purchased at neighborhood supermarkets.This is an example of __________.

Higher paper costs,increased postage rates,the growing interest in do-not-mail legislation,and concern for "green" mailings have resulted in

Why are vending machine prices often higher than those in a retail store?

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

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