Question 1

Briefly explain the wheel- of- retailing concept.

Accepted Answer

The answer of Briefly explain the wheel- of- retailing concept....

Question 2

Macy's department stores carry a wide range of product lines,including clothing,jewelry,kitchenware,and home furnishings.Macy's typically charges a relatively high markup,but also holds frequent sales and price promotions,in particular offering discounts to customers who use a Macy's credit card.Macy's uses .

Accepted Answer

A) experiential retailing 
B) self- service retailing 
C) retail convergence 
D) high- low pricing 
E) everyday low pricing

Question 3

McDonald's,Subway,and Pizza Hut are all examples of a .

Accepted Answer

A) power center 
B) franchise 
C) retailer cooperative 
D) voluntary chain 
E) full- service retailer

Question 4

Explain how Whole Foods is able to compete against Walmart.

Accepted Answer

The answer of Explain how Whole Foods is able to...

Question 5

Like retailers,wholesalers must their target markets and themselves effectively,for they cannot serve everyone.

Accepted Answer

A) identify;compare 
B) define;position 
C) position;define 
D) franchise;discount 
E) discount;franchise

Question 6

Overstock.com,a Web seller that buys furniture,clothing,electronics,and more from a variety of producers at less- than- regular wholesale prices and then charges customers less than retail,is a(n) .

Accepted Answer

A) discount store 
B) wholesale club 
C) category killer 
D) factory outlet 
E) independent off- price retailer

Question 7

Which wholesaler's channel function is demonstrated when a wholesaler reduces inventory holding costs and risks to suppliers and customers?

Accepted Answer

A) financing 
B) warehousing 
C) transporting 
D) buying and assortment building 
E) bulk breaking

Question 8

Refer to the scenario below to answer the following questions.
In the 1970s,Shipshewana was only a small town with a hardware store,a grain mill,a shoe store,a small restaurant,and a grocery store.Over the next two decades,the small town transformed into an international tourist attraction,attracting thousands of tourists who are intrigued with the lifestyle of Shipshewana's largest population-the Amish.
Ben and Mary Miller,having grown up within the Amish faith,decided to capitalize on their town's popularity and their woodworking skills.Their shop,Indiana Wood,began with a small display of handmade hickory rocking chairs,Ben Miller's specialty.But within a few months,the display at Indiana Wood included picnic tables,flower boxes,and small handmade novelty items.No other shop offers the same.
Mary Miller decorated the shop's display room with authentic Amish décor and eventually hired three Amish friends to sew and embroider napkins and other textiles per customer request.In addition,two women from the Amish community sought permission from the Millers to display home- baked pastries and jellies on Tuesdays and Wednesdays,when Shipshewana attracts swarms of visitors to its flea market on the south edge of town.
"Shipshewana is full of specialty shops," Mary Miller stated."People don't come here to buy things made in China or Taiwan.They want real,Amish- made goods."
-Which wholesaler's channel function is demonstrated when a wholesaler's sales force helps a manufacturer to reach many small customers at a low cost?

Accepted Answer

A) bulk- breaking 
B) warehousing 
C) buying and assortment building 
D) selling and promoting 
E) rackjobbing

Question 9

Which of the following is most likely the greatest factor in the increasingly short life cycle of new retail forms?

Accepted Answer

A) stagnating retail convergence 
B) economic swings 
C) import and export regulations 
D) global expansion of major retailers 
E) changes in technology

Question 10

Off- price retailers pay regular wholesale prices for their merchandise but maintain low prices by accepting lower margins and selling higher volume.

Accepted Answer

A) True 
 B)False

Question 11

Specialty stores carry with within them.

Accepted Answer

A) narrow product lines;deep assortments 
B) wide product lines;deep assortments 
C) wide product lines;shallow assortments 
D) narrow product lines;shallow assortments 
E) convenience items;mostly staples

Question 12

are facing slow sales growth because of slower population growth,increased competition,and the rapid growth of out- of- home eating.

Accepted Answer

A) Chain stores 
B) Convenience stores 
C) Supermarkets 
D) Department stores 
E) Hypermarkets

Question 13

Which type of limited- service wholesaler is owned by farmers who assemble farm produce to sell in local markets?

Accepted Answer

A) producer's cooperative 
B) truck jobber 
C) rack jobber 
D) cash- and- carry wholesaler 
E) drop shipper

Question 14

operate in warehouse- like facilities,sell a limited selection of items,and offer few frills.Customers pay annual membership fees and are able to purchase goods at deep discounts.

Accepted Answer

A) Warehouse clubs 
B) Superstores 
C) Independent off- price retailers 
D) Factory outlets 
E) Discount stores

Question 15

buy mostly from producers and sell to retailers and industrial consumers.

Accepted Answer

A) Independents 
B) Megaretailers 
C) Factory outlets 
D) Discount stores 
E) Wholesalers

Question 16

Independent off- price retailers may in fact be divisions of larger retail corporations.

Accepted Answer

A) True 
 B)False

Question 17

A(n)brings buyers and sellers together and assists in negotiations.

Accepted Answer

A) retailer 
B) retail convergence 
C) broker 
D) agent 
E) wholesaler

Question 18

How do the practices of "high- low" pricing and everyday low pricing differ?

Accepted Answer

The answer of How do the practices of "high- low"...

Question 19

Retail stores can be classified in terms of several characteristics.Name four of these.

Accepted Answer

The answer of Retail stores can be classified in terms...

Question 20

are flourishing due to increased use of market segmentation and market targeting.

Accepted Answer

A) Discount stores 
B) Chain stores 
C) Specialty stores 
D) Off- price stores 
E) Superstores

Exam 13: Retailing and Wholesaling