Question 1

As a business format franchisor,McDonald's provides step-by-step procedures for most aspects of the business and

Accepted Answer

A) provides an accounting system to pay the franchisee bills promptly. 
B) shops for the best food values. 
C) maintains the property. 
D) guidelines for the most likely decisions a franchisee will face. 
E) disciplines dishonest employees. 
A) provides an accounting system to pay the franchisee bills promptly. 
B) shops for the best food values. 
C) maintains the property. 
D) guidelines for the most likely decisions a franchisee will face. 
E) disciplines dishonest employees.

Question 2

What is the retailing mix?

Accepted Answer

In developing retailing strategy,manager

Question 3

A retailer bought a collectible Precious Moments figurine for $26.She sets the initial selling price at $60.The final selling price was $52.What was the maintained markup?

Accepted Answer

A) $0 
B) $16 
C) $26 
D) $34 
E) $86 
A) $0 
B) $16 
C) $26 
D) $34 
E) $86

Question 4

Loblaws,a Canadian supermarket,features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix,this tactic is related to __________.

Accepted Answer

A) pricing 
B) goods and services factor 
C) communication 
D) merchandise 
E) location 
A) pricing 
B) goods and services factor 
C) communication 
D) merchandise 
E) location

Question 5

Cash and carry wholesalers

Accepted Answer

A) handle bulky items like lumber,bricks,and telephone poles. 
B) handle perishable items like flowers,baked goods,and deli meats. 
C) handle office supplies,electrical supplies,hardware products,and groceries. 
D) are a kind of full-service wholesaler. 
E) lease vending machines to merchants and refill them as needed on a cash only basis. 
A) handle bulky items like lumber,bricks,and telephone poles. 
B) handle perishable items like flowers,baked goods,and deli meats. 
C) handle office supplies,electrical supplies,hardware products,and groceries. 
D) are a kind of full-service wholesaler. 
E) lease vending machines to merchants and refill them as needed on a cash only basis.

Question 6

General merchandise wholesalers

Accepted Answer

A) carry a broad assortment of merchandise and perform all channel functions. 
B) own the merchandise they sell but do not physically handle,stock,or deliver it. 
C) have a small warehouse from which they stock their trucks for distribution to retailers. 
D) work for several producers,carry noncompetitive,complementary merchandise in an exclusive territory,and use over-the-road transportation for all product deliveries. 
E) deal exclusively with small low-cost consumer products that are distributed to a select number of large retail chains. 
A) carry a broad assortment of merchandise and perform all channel functions. 
B) own the merchandise they sell but do not physically handle,stock,or deliver it. 
C) have a small warehouse from which they stock their trucks for distribution to retailers. 
D) work for several producers,carry noncompetitive,complementary merchandise in an exclusive territory,and use over-the-road transportation for all product deliveries. 
E) deal exclusively with small low-cost consumer products that are distributed to a select number of large retail chains.

Question 7

Impressions of the corporation that operates the store,the category or type of store,the product categories in the store,the brands in each category,merchandise and service quality,and the marketing activities of the store all contribute to the store's

Accepted Answer

A) prices. 
B) image. 
C) emotional feelings. 
D) name. 
E) psychological attributes. 
A) prices. 
B) image. 
C) emotional feelings. 
D) name. 
E) psychological attributes.

Question 8

A cluster of neighborhood stores,whose composition is typically unplanned,that serves people within a 5-to 10-mile radius is referred to as a(n)

Accepted Answer

A) suburban shopping mall. 
B) strip mall. 
C) mini-mart. 
D) hypomarket. 
E) central business district. 
A) suburban shopping mall. 
B) strip mall. 
C) mini-mart. 
D) hypomarket. 
E) central business district.

Question 9

Which of the following is a type of full-service merchant wholesaler?

Accepted Answer

A) cash and carry wholesaler 
B) rack jobbers 
C) truck jobbers 
D) specialty merchandise wholesaler 
E) drop shippers 
A) cash and carry wholesaler 
B) rack jobbers 
C) truck jobbers 
D) specialty merchandise wholesaler 
E) drop shippers

Question 10

Some experts suggest that television shopping programs are becoming a modern version of __________ by combining elements of reality TV programs,talk shows,and infomercials.

Accepted Answer

A) augmented reality 
B) door-to-door retailing 
C) telemarketing 
D) direct response wholesaling 
E) indirect selling 
A) augmented reality 
B) door-to-door retailing 
C) telemarketing 
D) direct response wholesaling 
E) indirect selling

Question 11

Consumers often use the prices of __________ items,such as a can of Coke,to form an overall impression of the store's prices.

Accepted Answer

A) benchmark 
B) stoplight 
C) point-of-purchase 
D) value-based 
E) loss-leader 
A) benchmark 
B) stoplight 
C) point-of-purchase 
D) value-based 
E) loss-leader

Question 12

Explain the global impact of retailing.

Accepted Answer

Retailing is important to the U.S.and gl

Question 13

There are two general types of franchises: business-format franchises and __________ franchises.

Accepted Answer

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

Question 14

A method of classification that describes how many different types of products a store carries and in what assortment is referred to as a __________.

Accepted Answer

A) product mix 
B) service level 
C) product variety 
D) store composition 
E) merchandise line 
A) product mix 
B) service level 
C) product variety 
D) store composition 
E) merchandise line

Question 15

Outside the United States,large retailers include __________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Accepted Answer

A) Aeon 
B) Toshei 
C) Seebi 
D) Goshen 
E) Toshi 
A) Aeon 
B) Toshei 
C) Seebi 
D) Goshen 
E) Toshi

Question 16

The three commonly used terms to describe levels of service are

Accepted Answer

A) self-service,limited-service,and full-service. 
B) retailer-service,sales-service,and customer-service 
C) self-service,automated-service,and online-service. 
D) limited-service,full-service,and automated-service. 
E) wholesaler-service,retailer-service,and customer-service. 
A) self-service,limited-service,and full-service. 
B) retailer-service,sales-service,and customer-service 
C) self-service,automated-service,and online-service. 
D) limited-service,full-service,and automated-service. 
E) wholesaler-service,retailer-service,and customer-service.

Question 17

The retailing mix refers to the activities related to the management of and the merchandise in the store,which includes

Accepted Answer

A) retail pricing,store location,retail communication,and merchandise. 
B) product,price,promotion,and place. 
C) the utilities of time,form,possession,and price. 
D) the colors,sizes,shapes,and point-of-purchase display locations of the store's products. 
E) selection of store location,selection of merchandise,hiring and training of employees,and promotion of both the store and products. 
A) retail pricing,store location,retail communication,and merchandise. 
B) product,price,promotion,and place. 
C) the utilities of time,form,possession,and price. 
D) the colors,sizes,shapes,and point-of-purchase display locations of the store's products. 
E) selection of store location,selection of merchandise,hiring and training of employees,and promotion of both the store and products.

Question 18

All of the following are reasons why direct mail and catalog retailing are attractive EXCEPT:

Accepted Answer

A) they can create customer value by providing a fast and convenient means of making a purchase. 
B) they can serve as a tool to encourage consumers to visit a website,a social media page,or even a store. 
C) their paper costs and postal rates have declined,making them less expensive to send. 
D) they can eliminate the cost of a store and clerks. 
E) they can improve marketing efficiency through segmentation and targeting. 
A) they can create customer value by providing a fast and convenient means of making a purchase. 
B) they can serve as a tool to encourage consumers to visit a website,a social media page,or even a store. 
C) their paper costs and postal rates have declined,making them less expensive to send. 
D) they can eliminate the cost of a store and clerks. 
E) they can improve marketing efficiency through segmentation and targeting.

Question 19

Prices in vending machines tend to be higher because

Accepted Answer

A) machines are placed in low demand/traffic areas. 
B) maintenance,operating,and leasing costs are high. 
C) only small unit volume items are sold. 
D) customary pricing requires certain coin and currency amounts regardless of the normal retailer markup. 
E) few people buy from vending machines. 
A) machines are placed in low demand/traffic areas. 
B) maintenance,operating,and leasing costs are high. 
C) only small unit volume items are sold. 
D) customary pricing requires certain coin and currency amounts regardless of the normal retailer markup. 
E) few people buy from vending machines.

Question 20

Selling on consignment to retailers,which means they retain the title to the products displayed and bill retailers only for the merchandise sold,is characteristic of which limited-service wholesaler?

Accepted Answer

A) truck jobbers 
B) transport vendors 
C) rack jobbers 
D) cash and carry wholesalers 
E) drop shippers 
A) truck jobbers 
B) transport vendors 
C) rack jobbers 
D) cash and carry wholesalers 
E) drop shippers

Exam 16: Retailing and Wholesaling

As a business format franchisor,McDonald's provides step-by-step procedures for most aspects of the business and

What is the retailing mix?

A retailer bought a collectible Precious Moments figurine for $26.She sets the initial selling price at $60.The final selling price was $52.What was the maintained markup?

Loblaws,a Canadian supermarket,features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix,this tactic is related to __________.

Cash and carry wholesalers

General merchandise wholesalers

Impressions of the corporation that operates the store,the category or type of store,the product categories in the store,the brands in each category,merchandise and service quality,and the marketing activities of the store all contribute to the store's

A cluster of neighborhood stores,whose composition is typically unplanned,that serves people within a 5-to 10-mile radius is referred to as a(n)

Which of the following is a type of full-service merchant wholesaler?

Some experts suggest that television shopping programs are becoming a modern version of __________ by combining elements of reality TV programs,talk shows,and infomercials.

Consumers often use the prices of __________ items,such as a can of Coke,to form an overall impression of the store's prices.

Explain the global impact of retailing.

There are two general types of franchises: business-format franchises and __________ franchises.

A method of classification that describes how many different types of products a store carries and in what assortment is referred to as a __________.

Outside the United States,large retailers include __________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

The three commonly used terms to describe levels of service are

The retailing mix refers to the activities related to the management of and the merchandise in the store,which includes

All of the following are reasons why direct mail and catalog retailing are attractive EXCEPT:

Prices in vending machines tend to be higher because

Selling on consignment to retailers,which means they retain the title to the products displayed and bill retailers only for the merchandise sold,is characteristic of which limited-service wholesaler?

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