Question 1

Retailing's economic impact is represented by the __________.

Accepted Answer

A) the price asked for any one item for sale 
B) the cost of goods sold 
C) the net return on capital 
D) the elimination of global boundaries 
E) the annual sales of retailers 
A) the price asked for any one item for sale 
B) the cost of goods sold 
C) the net return on capital 
D) the elimination of global boundaries 
E) the annual sales of retailers

Question 2

As a result of legislation,consumers who do not want to receive telephone calls related to a company sales efforts can

Accepted Answer

A) purchase telephones that block unwanted calls. 
B) place their telephone numbers on the National Do-Not-Call Registry. 
C) request phone numbers that begin with the area code 555 that automatically block telemarketing solicitors. 
D) request phone numbers that begin with the area code 888 that automatically block telemarketing solicitors. 
E) use an unlisted telephone number. 
A) purchase telephones that block unwanted calls. 
B) place their telephone numbers on the National Do-Not-Call Registry. 
C) request phone numbers that begin with the area code 555 that automatically block telemarketing solicitors. 
D) request phone numbers that begin with the area code 888 that automatically block telemarketing solicitors. 
E) use an unlisted telephone number.

Question 3

Retailers that integrate and leverage their stores,catalogs,and websites have seen

Accepted Answer

A) a sizeable increase in yearly sales from individual customers. 
B) a small increase in yearly sales from aggregate target market segments. 
C) no difference in yearly sales from individual customers. 
D) a decrease in yearly sales from individual customers. 
E) a large decrease in yearly sales from individual customers. 
A) a sizeable increase in yearly sales from individual customers. 
B) a small increase in yearly sales from aggregate target market segments. 
C) no difference in yearly sales from individual customers. 
D) a decrease in yearly sales from individual customers. 
E) a large decrease in yearly sales from individual customers.

Question 4

Wholly-owned extensions of the producer that perform wholesaling activities are referred to as

Accepted Answer

A) general merchandise wholesalers. 
B) cash and carry wholesalers. 
C) agents and brokers. 
D) manufacturer's branch or sales offices. 
E) merchant wholesalers. 
A) general merchandise wholesalers. 
B) cash and carry wholesalers. 
C) agents and brokers. 
D) manufacturer's branch or sales offices. 
E) merchant wholesalers.

Question 5

One way to assess the importance of retailing to the U.S.and global economies is to measure the

Accepted Answer

A) price asked for any one item. 
B) cost of goods sold. 
C) net return on capital. 
D) annual sales of retailers. 
E) progress towards eliminating of global boundaries. 
A) price asked for any one item. 
B) cost of goods sold. 
C) net return on capital. 
D) annual sales of retailers. 
E) progress towards eliminating of global boundaries.

Question 6

Intermediaries that work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory are referred to as __________.

Accepted Answer

A) selling agents 
B) line brokers 
C) distribution brokers 
D) manufacturer's agents 
E) brokers 
A) selling agents 
B) line brokers 
C) distribution brokers 
D) manufacturer's agents 
E) brokers

Question 7

A retail outlet that focuses on one type of product at very competitive or discount prices and often dominates the market is referred to as a __________.

Accepted Answer

A) general merchandise store 
B) value outlet 
C) hypermarket 
D) category killer 
E) department store 
A) general merchandise store 
B) value outlet 
C) hypermarket 
D) category killer 
E) department store

Question 8

Freightfinder.com is an Internet company that is called a "go-between." If a trucker needs to find a load for a particular trade lane,he or she can visit this site,list the price and available truck space,and find a company that needs a shipment moved.Since the purpose of this website is to put buyer and sellers together so that a single sale can be made,this website can be categorized as a(n)__________.

Accepted Answer

A) selling agent 
B) manufacturer's representative 
C) manufacturer's agent 
D) broker 
E) administrator 
A) selling agent 
B) manufacturer's representative 
C) manufacturer's agent 
D) broker 
E) administrator

Question 9

__________ retailers utilize and integrate a combination of traditional store formats and nonstore formats.

Accepted Answer

A) Progressive 
B) Opportunistic 
C) Multichannel 
D) Cluster 
E) Power 
A) Progressive 
B) Opportunistic 
C) Multichannel 
D) Cluster 
E) Power

Question 10

Coal,lumber,and chemicals,which are sold in extremely large quantities,are traditionally sold by which type of wholesaler?

Accepted Answer

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

Question 11

When Paulette first saw the dress in the store window,she knew two things.She had to own the dress,and she could not afford it at its current price.Disappointed,she left.Two weeks later,she passed by the store again and saw that the price of the dress had been reduced to one that she could afford.Specifically,the store had reduced the price by 30 percent to "move" it.Paulette was able to purchase the dress because of a(n)

Accepted Answer

A) negative markup. 
B) markup elimination. 
C) markdown. 
D) liquidity reduction. 
E) increase in net margin. 
A) negative markup. 
B) markup elimination. 
C) markdown. 
D) liquidity reduction. 
E) increase in net margin.

Question 12

Specialty discount stores that dominate the market are referred to as __________.

Accepted Answer

A) hypermarkets 
B) category killers 
C) value outlets 
D) regional dominators 
E) general merchandise stores 
A) hypermarkets 
B) category killers 
C) value outlets 
D) regional dominators 
E) general merchandise stores

Question 13

Which quadrant shown in Figure 16-8 above MOST LIKELY are specialty mass merchandisers that (1)appeal to value-conscious consumers, (2)achieve economies of scale through centralized advertising,merchandising,buying,and distribution, (3)usually have the same design,layout,and merchandise,and (4)are often referred to as "cookie-cutter" stores?

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

In the past,television home shopping programs have attracted mostly

Accepted Answer

A) 20 to 30 year old men. 
B) 30 to 40 year old women. 
C) 40 to 50 year old men. 
D) 40 to 60 year old women. 
E) 50 to 60 year old men. 
A) 20 to 30 year old men. 
B) 30 to 40 year old women. 
C) 40 to 50 year old men. 
D) 40 to 60 year old women. 
E) 50 to 60 year old men.

Question 15

Which of the following statements about outlet stores is FALSE?

Accepted Answer

A) Outlets allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary store. 
B) The recessionary economic climate has increased demand for this type of off-price retailing. 
C) Increasingly,retailers are offering merchandise made expressly for the outlet division. 
D) Manufacturers use outlet stores to clear excess merchandise. 
E) Outlet stores attract customers who want a "corner store" environment. 
A) Outlets allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary store. 
B) The recessionary economic climate has increased demand for this type of off-price retailing. 
C) Increasingly,retailers are offering merchandise made expressly for the outlet division. 
D) Manufacturers use outlet stores to clear excess merchandise. 
E) Outlet stores attract customers who want a "corner store" environment.

Question 16

Off-price retailing refers to the

Accepted Answer

A) differences between the final selling price and the retailer's cost. 
B) sale of brand name merchandise at lower than regular prices. 
C) sales of merchandise at maintained markups. 
D) amount added by the manufacturer to achieve the desired suggested retail price. 
E) reduction in retail price usually expressed as the gross margin. 
A) differences between the final selling price and the retailer's cost. 
B) sale of brand name merchandise at lower than regular prices. 
C) sales of merchandise at maintained markups. 
D) amount added by the manufacturer to achieve the desired suggested retail price. 
E) reduction in retail price usually expressed as the gross margin.

Question 17

Sales per square foot is calculated by dividing

Accepted Answer

A) profit margin by selling area in square feet. 
B) gross profit by selling area in square feet. 
C) total sales by selling area in square feet. 
D) return on investment by selling area in square feet. 
E) net sales by selling area in square feet. 
A) profit margin by selling area in square feet. 
B) gross profit by selling area in square feet. 
C) total sales by selling area in square feet. 
D) return on investment by selling area in square feet. 
E) net sales by selling area in square feet.

Question 18

The difference between the retailer's cost and the initial selling price is referred to as __________.

Accepted Answer

A) markup 
B) maintained markup 
C) markdown 
D) differential markup 
E) original markup 
A) markup 
B) maintained markup 
C) markdown 
D) differential markup 
E) original markup

Question 19

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as __________.

Accepted Answer

A) brokers 
B) line brokers 
C) selling agents 
D) distribution brokers 
E) manufacturer's agents 
A) brokers 
B) line brokers 
C) selling agents 
D) distribution brokers 
E) manufacturer's agents

Question 20

Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried?

Accepted Answer

A) general merchandise wholesaler 
B) limited-service wholesaler 
C) cash and carry wholesaler 
D) specialty merchandise wholesaler 
E) drop shipper 
A) general merchandise wholesaler 
B) limited-service wholesaler 
C) cash and carry wholesaler 
D) specialty merchandise wholesaler 
E) drop shipper

Exam 16: Retailing and Wholesaling

Retailing's economic impact is represented by the __________.

As a result of legislation,consumers who do not want to receive telephone calls related to a company sales efforts can

Retailers that integrate and leverage their stores,catalogs,and websites have seen

Wholly-owned extensions of the producer that perform wholesaling activities are referred to as

One way to assess the importance of retailing to the U.S.and global economies is to measure the

Intermediaries that work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory are referred to as __________.

A retail outlet that focuses on one type of product at very competitive or discount prices and often dominates the market is referred to as a __________.

__________ retailers utilize and integrate a combination of traditional store formats and nonstore formats.

Coal,lumber,and chemicals,which are sold in extremely large quantities,are traditionally sold by which type of wholesaler?

Specialty discount stores that dominate the market are referred to as __________.

In the past,television home shopping programs have attracted mostly

Which of the following statements about outlet stores is FALSE?

Off-price retailing refers to the

Sales per square foot is calculated by dividing

The difference between the retailer's cost and the initial selling price is referred to as __________.

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as __________.

Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried?

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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