Question 1

Retailers analyze cost data, geographic location expenses, and product uniqueness in order to segment markets.

Accepted Answer

A) True 
 B)False

Question 2

Large advertising expenditures, volume purchasing, and sales training are all hallmarks of the independent retailer.

Accepted Answer

A) True 
 B)False

Question 3

What is a mail-order wholesaler?

Accepted Answer

A)  a limited-function merchant wholesaler that distributes catalogues instead of sending sales representatives to contact customers 
B)  an agent that exerts full authority over pricing decisions and promotional outlays, and even provides financial assistance for the manufacturer 
C)  a limited-function merchant wholesaler that performs most wholesaling functions via the Internet 
D)  a limited-function wholesaler that accepts orders from customers and forwards these to manufacturers that ship the products direct to the customer

Question 4

What are independent wholesaling intermediaries called that take title to the goods they sell?

Accepted Answer

A)  buying offices 
B)  merchant wholesalers 
C)  manufacturer-owned sales offices 
D)  retailer-owned cooperatives

Question 5

Lifestyle centres have no anchor stores, but instead offer a combination of shopping, entertainment, and restaurants in an attractive environment.

Accepted Answer

A) True 
 B)False

Question 6

Marc works as a wholesaling intermediary. He brings buyers and sellers together, sometimes representing buyers and sometimes representing sellers, but never both in any given transaction. Marc is a selling agent.

Accepted Answer

A) True 
 B)False

Question 7

Retail convergence defines a situation in which similar products are found at dissimilar retailers and distinguished by price more than any other factor.

Accepted Answer

A) True 
 B)False

Question 8

Match each item to the statement or sentence listed below.
a.stock-keeping unit (SKU)
b.markup
c.markdown
d.retail convergence
e.scrambled merchandising
f.atmospherics
g.broker
h.general merchandise retailer
i.category killer
j.rack jobber
k.supercentre
l.auction house
m.specialty store
n.retailers
o.mass merchandiser
p.truck jobber
q.direct marketing
r.drop shipper
s.planned shopping centre
t.wheel of retailing
-A limited-line retail store that offers huge selections and low prices in single product lines is known as a(n) _____.

Accepted Answer

The answer of Match each item to the statement or...

Question 9

What is a lifestyle centre? Why are they popular? Provide the name of a store typically found in a lifestyle centre.

Accepted Answer

The answer of What is a lifestyle centre? Why are...

Question 10

Where are a growing number of off-price retailers concentrating in?

Accepted Answer

A)  outlet malls 
B)  stand-alone superstores 
C)  suburban malls 
D)  small specialty shops

Question 11

General merchandisers carry a wide range of products and are subdivided into variety stores, department stores, and mass merchandisers.

Accepted Answer

A) True 
 B)False

Question 12

The difference between a sales office and sales branch is determined by the number of sales personnel assigned to the location and the size of the geography covered by each.

Accepted Answer

A) True 
 B)False

Question 13

Match each item to the statement or sentence listed below.
a.stock-keeping unit (SKU)
b.markup
c.markdown
d.retail convergence
e.scrambled merchandising
f.atmospherics
g.broker
h.general merchandise retailer
i.category killer
j.rack jobber
k.supercentre
l.auction house
m.specialty store
n.retailers
o.mass merchandiser
p.truck jobber
q.direct marketing
r.drop shipper
s.planned shopping centre
t.wheel of retailing
-A(n) _____ gathers buyers and sellers in one location and allows potential buyers to inspect merchandise before submitting competing purchase offers.

Accepted Answer

The answer of Match each item to the statement or...

Question 14

What term refers to the innovative retailer that offers its customer the greatest selection of grocery and general merchandise products at discount prices?

Accepted Answer

A)  hypermarket 
B)  supermarket 
C)  warehouse club 
D)  specialty store

Question 15

Which of the following could retailers NOT be classified by?

Accepted Answer

A)  form of ownership 
B)  shopping effort expended by customers 
C)  services provided to customers 
D)  geographic location

Question 16

The retail industry represents Canada's largest segment of small businesses: nearly 150,000 firms that employ almost 800,000 people.

Accepted Answer

A) True 
 B)False

Question 17

A successful regional centre requires a location within 10 minutes driving time of at least 10,000 people.

Accepted Answer

A) True 
 B)False

Question 18

How are independent retailers able to compete with other types of retailers?

Accepted Answer

A)  through individual and specialized buying power 
B)  through retail cooperatives 
C)  through limited numbers 
D)  through inflexible operating hours

Question 19

Who is the agent that predominates in agricultural marketing?

Accepted Answer

A)  truck wholesaler 
B)  broker 
C)  selling agent 
D)  commission merchant

Question 20

A retailer informs a customer that the flashlight he just purchased requires batteries, which the store has available for sale. What is this an example of?

Accepted Answer

A)  cross-selling 
B)  reminding 
C)  customer service 
D)  suggestion selling

Exam 13: Retailers, Wholesalers, and Direct Marketers

Retailers analyze cost data, geographic location expenses, and product uniqueness in order to segment markets.

Large advertising expenditures, volume purchasing, and sales training are all hallmarks of the independent retailer.

What is a mail-order wholesaler?

What are independent wholesaling intermediaries called that take title to the goods they sell?

Lifestyle centres have no anchor stores, but instead offer a combination of shopping, entertainment, and restaurants in an attractive environment.

Marc works as a wholesaling intermediary. He brings buyers and sellers together, sometimes representing buyers and sometimes representing sellers, but never both in any given transaction. Marc is a selling agent.

Retail convergence defines a situation in which similar products are found at dissimilar retailers and distinguished by price more than any other factor.

What is a lifestyle centre? Why are they popular? Provide the name of a store typically found in a lifestyle centre.

Where are a growing number of off-price retailers concentrating in?

General merchandisers carry a wide range of products and are subdivided into variety stores, department stores, and mass merchandisers.

The difference between a sales office and sales branch is determined by the number of sales personnel assigned to the location and the size of the geography covered by each.

What term refers to the innovative retailer that offers its customer the greatest selection of grocery and general merchandise products at discount prices?

Which of the following could retailers NOT be classified by?

The retail industry represents Canada's largest segment of small businesses: nearly 150,000 firms that employ almost 800,000 people.

A successful regional centre requires a location within 10 minutes driving time of at least 10,000 people.

How are independent retailers able to compete with other types of retailers?

Who is the agent that predominates in agricultural marketing?

A retailer informs a customer that the flashlight he just purchased requires batteries, which the store has available for sale. What is this an example of?