Question 1

About 31 percent of the products sold from vending machines are __________.

Accepted Answer

A) candy and snacks 
B) personal items 
C) movies and videos 
D) cold beverages 
E) food 
A) candy and snacks 
B) personal items 
C) movies and videos 
D) cold beverages 
E) food

Question 2

Consumers benefit in dealing with retail corporate chains because

Accepted Answer

A) corporate chains have more experience than other forms of retailers. 
B) they can own stock in the same company where they shop since corporate chain stock must be publicly-traded. 
C) the latter can bargain with a manufacturer to obtain product volume discounts on orders,which can be passed on to consumers in terms of lower prices. 
D) there are multiple outlets,each with its own varied merchandise and different management policies. 
E) merchandise is arranged and displayed by professional designers making their shopping experience less stressful. 
A) corporate chains have more experience than other forms of retailers. 
B) they can own stock in the same company where they shop since corporate chain stock must be publicly-traded. 
C) the latter can bargain with a manufacturer to obtain product volume discounts on orders,which can be passed on to consumers in terms of lower prices. 
D) there are multiple outlets,each with its own varied merchandise and different management policies. 
E) merchandise is arranged and displayed by professional designers making their shopping experience less stressful.

Question 3

The four major types of limited-service merchant wholesalers are rack jobbers,cash and carry wholesalers,truck jobbers,and __________.

Accepted Answer

A) machine vendors 
B) credit line wholesalers 
C) transport vendors 
D) container transport vendors 
E) desk jobbers 
A) machine vendors 
B) credit line wholesalers 
C) transport vendors 
D) container transport vendors 
E) desk jobbers

Question 4

The four major types of limited-service merchant wholesalers are cash and carry wholesalers,drop shippers,truck jobbers,and __________.

Accepted Answer

A) display vendors 
B) rack jobbers 
C) point of purchase wholesalers 
D) transport vendors 
E) container transport vendors 
A) display vendors 
B) rack jobbers 
C) point of purchase wholesalers 
D) transport vendors 
E) container transport vendors

Question 5

Off-price retailers,warehouse clubs,and grocery stores that require customers to bag their groceries provide what level of retail service?

Accepted Answer

A) full-service 
B) limited-service 
C) customized-service 
D) self-service 
E) automated-service 
A) full-service 
B) limited-service 
C) customized-service 
D) self-service 
E) automated-service

Question 6

Godiva Chocolatier invites consumers to stop by one of its stores for an unforgettable experience,including delectable chocolates,decorative gift collections,and unrivaled customer care.What type of retail service is Godiva offering?

Accepted Answer

A) full-service 
B) limited-service 
C) self-service 
D) restricted-service 
E) functional-service 
A) full-service 
B) limited-service 
C) self-service 
D) restricted-service 
E) functional-service

Question 7

Another name for a manufacturer's agent is a __________.

Accepted Answer

A) manufacturer's desk jobber 
B) manufacturer's transport vendor 
C) manufacturer's representative 
D) manufacturer's broker 
E) manufacturer's rack jobber 
A) manufacturer's desk jobber 
B) manufacturer's transport vendor 
C) manufacturer's representative 
D) manufacturer's broker 
E) manufacturer's rack jobber

Question 8

Ford and Coca-Cola represent which type of franchise?

Accepted Answer

A) business-format franchise 
B) manufacturing franchise 
C) general service franchise 
D) product-distribution franchise 
E) business franchise venture 
A) business-format franchise 
B) manufacturing franchise 
C) general service franchise 
D) product-distribution franchise 
E) business franchise venture

Question 9

Mall of America has verbalized its __________ strategy with the slogan,"A place for fun!"

Accepted Answer

A) retail mix 
B) wheel of retailing 
C) retail life cycle 
D) distribution 
E) retail positioning 
A) retail mix 
B) wheel of retailing 
C) retail life cycle 
D) distribution 
E) retail positioning

Question 10

The horizontal dimension of the retail positioning matrix is

Accepted Answer

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

Question 11

According to the Direct Marketing Association,annual telemarketing sales exceed __________.

Accepted Answer

A) $10 billion 
B) $28 billion 
C) $137 billion 
D) $332 billion 
E) $500 billion 
A) $10 billion 
B) $28 billion 
C) $137 billion 
D) $332 billion 
E) $500 billion

Question 12

The marketing managers at Omaha Steaks used airlines' databases to mail a special offer to frequent flyers.Eight weeks after shipping the steaks to the frequent flyers who responded to the offer,the company's salespeople followed up by telephoning customers to ask for new orders.This is an example of which types of nonstore retailing?

Accepted Answer

A) direct selling and telemarketing 
B) direct-mail and telemarketing 
C) telemarketing and online retailing 
D) online retailing and direct-mail 
E) direct-mail and direct selling 
A) direct selling and telemarketing 
B) direct-mail and telemarketing 
C) telemarketing and online retailing 
D) online retailing and direct-mail 
E) direct-mail and direct selling

Question 13

Explain how the wheel of retailing works.

Accepted Answer

The wheel of retailing describes how new

Question 14

Nordstrom stores typically have 50 percent more salespeople on the floor than others retailers with stores of similar sizes.Its salespeople are renowned for their professional and personalized attention to customers.Nordstrom would be considered a(n)__________.

Accepted Answer

A) exclusive-service retailer 
B) limited-service retailer 
C) full-service retailer 
D) upscale-retailer 
E) limited-domain retailer 
A) exclusive-service retailer 
B) limited-service retailer 
C) full-service retailer 
D) upscale-retailer 
E) limited-domain retailer

Question 15

Discounting generally takes place during which stage of the retail life cycle?

Accepted Answer

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

Question 16

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as __________.

Accepted Answer

A) manufacturing 
B) retailing 
C) wholesaling 
D) facilitating 
E) logistics 
A) manufacturing 
B) retailing 
C) wholesaling 
D) facilitating 
E) logistics

Question 17

Which of the following statements regarding retail pricing is most accurate?

Accepted Answer

A) Consumers rarely base their perceptions of a store's prices on a price of a benchmark item in the store. 
B) Consumers are influenced more by a store's ambiance than its prices. 
C) Stores that offer rebates and take an excessive amount of time to process them may create negative consumer perceptions. 
D) New technology has almost made shoplifting a thing of the past. 
E) The only difference between everyday low pricing and everyday fair pricing is whether the store uses markups. 
A) Consumers rarely base their perceptions of a store's prices on a price of a benchmark item in the store. 
B) Consumers are influenced more by a store's ambiance than its prices. 
C) Stores that offer rebates and take an excessive amount of time to process them may create negative consumer perceptions. 
D) New technology has almost made shoplifting a thing of the past. 
E) The only difference between everyday low pricing and everyday fair pricing is whether the store uses markups.

Question 18

What future changes may be expected in retailing?

Accepted Answer

Retailers in the future are likely to co

Question 19

Your local Target retailer carries a variety of different items.You can find everything ranging from socks and DVDs to baby items and groceries.This is an example of the __________ carried by Target.

Accepted Answer

A) breadth of product line 
B) depth of product line 
C) variety of brand extension 
D) breadth of product class 
E) product mix 
A) breadth of product line 
B) depth of product line 
C) variety of brand extension 
D) breadth of product class 
E) product mix

Question 20

Which of the following is one of the largest retailers in the United States?

Accepted Answer

A) Hallmark 
B) Procter and Gamble 
C) Merck 
D) Home Depot 
E) Johnson and Johnson 
A) Hallmark 
B) Procter and Gamble 
C) Merck 
D) Home Depot 
E) Johnson and Johnson

Exam 16: Retailing and Wholesaling

About 31 percent of the products sold from vending machines are __________.

Consumers benefit in dealing with retail corporate chains because

The four major types of limited-service merchant wholesalers are rack jobbers,cash and carry wholesalers,truck jobbers,and __________.

The four major types of limited-service merchant wholesalers are cash and carry wholesalers,drop shippers,truck jobbers,and __________.

Off-price retailers,warehouse clubs,and grocery stores that require customers to bag their groceries provide what level of retail service?

Godiva Chocolatier invites consumers to stop by one of its stores for an unforgettable experience,including delectable chocolates,decorative gift collections,and unrivaled customer care.What type of retail service is Godiva offering?

Another name for a manufacturer's agent is a __________.

Ford and Coca-Cola represent which type of franchise?

Mall of America has verbalized its __________ strategy with the slogan,"A place for fun!"

The horizontal dimension of the retail positioning matrix is

According to the Direct Marketing Association,annual telemarketing sales exceed __________.

Explain how the wheel of retailing works.

Nordstrom stores typically have 50 percent more salespeople on the floor than others retailers with stores of similar sizes.Its salespeople are renowned for their professional and personalized attention to customers.Nordstrom would be considered a(n)__________.

Discounting generally takes place during which stage of the retail life cycle?

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as __________.

Which of the following statements regarding retail pricing is most accurate?

What future changes may be expected in retailing?

Your local Target retailer carries a variety of different items.You can find everything ranging from socks and DVDs to baby items and groceries.This is an example of the __________ carried by Target.

Which of the following is one of the largest retailers in the United States?

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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