Question 1

A significant difference between the Mall of America and other regional shopping centers is that

Accepted Answer

A) all MOA employees are required to be multilingual because of the store's international draw. 
B) MOA has nearly twice as much space devoted to specialty stores than to anchor stores. 
C) retail store owners can live in attached condominiums,at reduced rates,so they don't have to worry about getting to work in bad weather. 
D) employees can take classes on the premises offered through a local community college. 
E) employees get a 50% discount at all the food establishments. 
A) all MOA employees are required to be multilingual because of the store's international draw. 
B) MOA has nearly twice as much space devoted to specialty stores than to anchor stores. 
C) retail store owners can live in attached condominiums,at reduced rates,so they don't have to worry about getting to work in bad weather. 
D) employees can take classes on the premises offered through a local community college. 
E) employees get a 50% discount at all the food establishments.

Question 2

Staples is a specialty discount retailer that focuses on one type of product-office supplies.Staples is an example of a

Accepted Answer

A) hypermarket. 
B) superstore. 
C) category killer. 
D) department store. 
E) general merchandise store. 
A) hypermarket. 
B) superstore. 
C) category killer. 
D) department store. 
E) general merchandise store.

Question 3

There are two general types of franchises:

Accepted Answer

A) product-format franchises and distribution franchises. 
B) business-format franchises and manufacturing franchises. 
C) venture franchises and general service franchises. 
D) manufacturing franchises and venture franchises. 
E) business-format franchises and product-distribution franchises. 
A) product-format franchises and distribution franchises. 
B) business-format franchises and manufacturing franchises. 
C) venture franchises and general service franchises. 
D) manufacturing franchises and venture franchises. 
E) business-format franchises and product-distribution franchises.

Question 4

Three __________ are provided by self-,limited-,and full-service retailers.

Accepted Answer

A) levels of distribution 
B) levels of involvement 
C) levels of service 
D) service commitments 
E) merchandise lines 
A) levels of distribution 
B) levels of involvement 
C) levels of service 
D) service commitments 
E) merchandise lines

Question 5

The value added dimension of the retail positioning matrix includes elements such as product reliability,prestige,and __________.

Accepted Answer

A) level of service 
B) market share 
C) location 
D) price 
E) number of employees 
A) level of service 
B) market share 
C) location 
D) price 
E) number of employees

Question 6

As part of their regular retail pricing strategy,some retailers will emphasize consistently low prices and eliminate most markdowns.This practice is referred to as __________.

Accepted Answer

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

Question 7

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores.These are referred to as __________.

Accepted Answer

A) extreme value retailers 
B) warehouse clubs 
C) discount houses 
D) outlet stores 
E) community shopping centers 
A) extreme value retailers 
B) warehouse clubs 
C) discount houses 
D) outlet stores 
E) community shopping centers

Question 8

Which of the following statements regarding telemarketing is most accurate?

Accepted Answer

A) Shopping bots are computers that place automated or "robo" (i.e.robotic)telemarketing calls. 
B) Direct-mail is typically viewed as more efficient means of targeting consumers than telemarketing. 
C) Telemarketing has risen in popularity as a result of the National Please-Do-Call registry legislation. 
D) Consumer privacy,industry standards,and ethical guidelines have become important issues. 
E) Some firms are considering shifting their direct-mail and door-to-door budgets to telemarketing techniques. 
A) Shopping bots are computers that place automated or "robo" (i.e.robotic)telemarketing calls. 
B) Direct-mail is typically viewed as more efficient means of targeting consumers than telemarketing. 
C) Telemarketing has risen in popularity as a result of the National Please-Do-Call registry legislation. 
D) Consumer privacy,industry standards,and ethical guidelines have become important issues. 
E) Some firms are considering shifting their direct-mail and door-to-door budgets to telemarketing techniques.

Question 9

What is off-price retailing? Identify and give an example of the three variations of off-price retailing.

Accepted Answer

Off-price retailing involves selling bra

Question 10

A regional bakery makes organic breads and muffins.It feels the choice of distribution channel is critical to the product's success,especially since it wants to have the product distributed nationally.However,it will take some time before sales take off,and the bakery wants to make sure the marketing program is consistent everywhere.It should use

Accepted Answer

A) a manufacturer's agent to sell to truck jobbers who in turn will deal with retailers. 
B) its own salesforce to sell directly to retailers. 
C) the services of a selling agent to sell to general merchandise wholesalers who will sell to retailers. 
D) a dual distribution system composed of both direct and indirect wholesalers. 
E) a rack jobber who will sell to a merchant wholesaler and who will in turn sell to retailers. 
A) a manufacturer's agent to sell to truck jobbers who in turn will deal with retailers. 
B) its own salesforce to sell directly to retailers. 
C) the services of a selling agent to sell to general merchandise wholesalers who will sell to retailers. 
D) a dual distribution system composed of both direct and indirect wholesalers. 
E) a rack jobber who will sell to a merchant wholesaler and who will in turn sell to retailers.

Question 11

Jane Westerlund owns a small retail picture frame store in a local strip mall.She just bought 10 picture frames from a promising woodworker for $36 each.Based on market conditions,she will sell these for $100 each.What is the percentage markup based on the selling price?

Accepted Answer

A) 0 percent 
B) 36 percent 
C) 64 percent 
D) 100 percent 
E) 156 percent 
A) 0 percent 
B) 36 percent 
C) 64 percent 
D) 100 percent 
E) 156 percent

Question 12

The vertical dimension of the retail positioning matrix is

Accepted Answer

A) depth of product line. 
B) relative market share. 
C) value added. 
D) breadth of product line. 
E) stage in the retail life cycle. 
A) depth of product line. 
B) relative market share. 
C) value added. 
D) breadth of product line. 
E) stage in the retail life cycle.

Question 13

A customer was unable to go to the store on her own to buy gifts for the holidays.She contacted a Pampered Chef representative who came to her home,showed her not only catalogs but actual products,answered all her questions,and had all the customer's gifts sorted and delivered.This is an example of __________.

Accepted Answer

A) interface marketing 
B) flex-marketing 
C) direct selling 
D) interactive selling 
E) responsive selling 
A) interface marketing 
B) flex-marketing 
C) direct selling 
D) interactive selling 
E) responsive selling

Question 14

Retail outlets vary by their merchandise lines,the key distinction being the __________ and __________ of the items offered to customers.

Accepted Answer

A) scope;span 
B) breadth;depth 
C) breadth;inventory 
D) scope;inventory 
E) range;span 
A) scope;span 
B) breadth;depth 
C) breadth;inventory 
D) scope;inventory 
E) range;span

Question 15

Competition for the same or similar type of product or service between very dissimilar types of retail outlets that results from a scrambled merchandising policy is referred to as __________.

Accepted Answer

A) mixed merchandising 
B) intertype competition 
C) scrambled merchandising 
D) multi-service merchandising 
E) dual distribution 
A) mixed merchandising 
B) intertype competition 
C) scrambled merchandising 
D) multi-service merchandising 
E) dual distribution

Question 16

The retailing positioning matrix refers to an analytical tool that

Accepted Answer

A) positions retail outlets in terms of the breadth of product line and value added. 
B) identifies the best location for building or leasing a retail store. 
C) identifies the specific customer base served by all stores within a given radius. 
D) identifies the most likely target market for a retail outlet based upon its size. 
E) identifies the elements of the retailing mix. 
A) positions retail outlets in terms of the breadth of product line and value added. 
B) identifies the best location for building or leasing a retail store. 
C) identifies the specific customer base served by all stores within a given radius. 
D) identifies the most likely target market for a retail outlet based upon its size. 
E) identifies the elements of the retailing mix.

Question 17

One of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.Of the shoppers who leave,__________ percent do not return.

Accepted Answer

A) 30% 
B) 40% 
C) 50% 
D) 60% 
E) 70% 
A) 30% 
B) 40% 
C) 50% 
D) 60% 
E) 70%

Question 18

General merchandise stores such as Walmart,Kmart,and Target are usually considered __________ retailers.

Accepted Answer

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

Question 19

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 20

Depth of product line refers to

Accepted Answer

A) the percentage of goods stored as inventory. 
B) the variety of different product items a store carries 
C) variations in price and color on specific items in a store. 
D) the number of different product lines and items within a product line. 
E) the number of different product classes owned by a corporate chain. 
A) the percentage of goods stored as inventory. 
B) the variety of different product items a store carries 
C) variations in price and color on specific items in a store. 
D) the number of different product lines and items within a product line. 
E) the number of different product classes owned by a corporate chain.

Exam 16: Retailing and Wholesaling

A significant difference between the Mall of America and other regional shopping centers is that

Staples is a specialty discount retailer that focuses on one type of product-office supplies.Staples is an example of a

There are two general types of franchises:

Three __________ are provided by self-,limited-,and full-service retailers.

The value added dimension of the retail positioning matrix includes elements such as product reliability,prestige,and __________.

As part of their regular retail pricing strategy,some retailers will emphasize consistently low prices and eliminate most markdowns.This practice is referred to as __________.

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores.These are referred to as __________.

Which of the following statements regarding telemarketing is most accurate?

What is off-price retailing? Identify and give an example of the three variations of off-price retailing.

Jane Westerlund owns a small retail picture frame store in a local strip mall.She just bought 10 picture frames from a promising woodworker for $36 each.Based on market conditions,she will sell these for $100 each.What is the percentage markup based on the selling price?

The vertical dimension of the retail positioning matrix is

Retail outlets vary by their merchandise lines,the key distinction being the __________ and __________ of the items offered to customers.

Competition for the same or similar type of product or service between very dissimilar types of retail outlets that results from a scrambled merchandising policy is referred to as __________.

The retailing positioning matrix refers to an analytical tool that

One of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.Of the shoppers who leave,__________ percent do not return.

General merchandise stores such as Walmart,Kmart,and Target are usually considered __________ retailers.

Which type of utility is created by online shopping?

Depth of product line refers to

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

Retail outlets vary by their merchandise lines,the key distinction being the and of the items offered to customers.