Question 1

At some stock level point, management must reorder product to refill the inventory to an acceptable level. This "point" is called the ________.

Accepted Answer

A)  order (or reorder) point. 
B)  near zero point. 
C)  inventory carrying costs. 
D)  minimum inventory level. 
E)  inventory.

Question 2

A retailer's most important decision is "location, location, location."

Accepted Answer

A) True 
 B)False

Question 3

In order to better compete, Arrow Electronics, a global provider of products, services, and solutions to the electronic-component and computer-product industries has sought to strengthen its relationships with manufacturers. Which of the four ways cited in the text has Arrow embraced?

Accepted Answer

A)  fulfilled commitments by meeting volume targets 
B)  gained insight by visiting manufacturers' plants and trade shows 
C)  fed customer information back to manufacturers 
D)  sought a clear agreement with manufacturers about expected functions 
E)  identified and offered value-added services

Question 4

An off-price retailer is one in which the retailer has a broad selection of high-markup, fast-moving, brand-name goods in stock.

Accepted Answer

A) True 
 B)False

Question 5

A retailer can differentiate itself from other retailers by adopting a services mix from one store to another. Ancillary services are one of the services that retailers can choose to set his operation apart from others.

Accepted Answer

A) True 
 B)False

Question 6

A company like Dell Computers could decide to use cheap containers in the shipping department to minimize costs. Relate this to the concept of market-logistics objectives.

Accepted Answer

The answer of A company like Dell Computers could decide...

Question 7

List four ways for leading industrial distributors to strengthen their relationships with manufacturers.

Accepted Answer

The answer of List four ways for leading industrial distributors...

Question 8

The real challenge begins, for a retailer, after defining the store's product assortment and that is to develop a product differentiation strategy.

Accepted Answer

A) True 
 B)False

Question 9

Inventory costs increases at a decreasing rate as customer service levels approach 100 percent fulfillment.

Accepted Answer

A) True 
 B)False

Question 10

As a brand manager why should you be concerned with the transportation decisions regarding your product?

Accepted Answer

The answer of As a brand manager why should you...

Question 11

Traditional brick-and-mortar retailers are responding to the growth of e-commerce by providing and emphasizing ________ as a strong differentiator to stay at home shopping.

Accepted Answer

A)  shopping experience 
B)  reputation of the retailer 
C)  celebrities on premises 
D)  wider selection of merchandise 
E)  expert advice in selecting

Question 12

One of the trends in retailing includes which of the following?

Accepted Answer

A)  Reduction in the level of global competition. 
B)  Competition between Internet selling and store based retailing. 
C)  Competition between store-based and non-store based retailing. 
D)  Growth of the "smaller" boutique types of stores. 
E)  A decline in the "shop at home" markets.

Question 13

Retailers can choose to locate in regional shopping malls. Regional shopping malls offer retailers generous parking, and one-stop shopping for consumers.

Accepted Answer

A) True 
 B)False

Question 14

The growth of "house brands" has sky rocketed in recent years. Why do intermediaries bother to sponsor their own brands?

Accepted Answer

The answer of The growth of "house brands" has sky...

Question 15

Any organization selling to the final consumers is doing retailing. However, it does matter how the goods or services are sold and where they are sold.

Accepted Answer

A) True 
 B)False

Question 16

Retailers can position themselves as offering one of four levels of service. However, self-selection and self-service are the same in discount retailers.

Accepted Answer

A) True 
 B)False

Question 17

A retailer that has salespeople ready to assist in every phase of the locate-compare-select process for the shopper, that has high staffing, and high specialty goods would be considered a ________ retailer.

Accepted Answer

A)  part-time service 
B)  limited service 
C)  events and experiences 
D)  self-service 
E)  full service

Question 18

________ involves planning the infrastructure to meet demand, then implementing and controlling the physical flows of materials and final goods from points of origin to points of use, to meet customer requirements at a profit.

Accepted Answer

A)  SCM 
B)  Wholesaling 
C)  Integrated logistics systems 
D)  Supply chain management 
E)  Market logistics

Question 19

After deciding on the product-assortment strategy, the retailer must establish merchandise source, ________, and practices.

Accepted Answer

A)  buyers 
B)  vendors 
C)  lead-times 
D)  suppliers 
E)  policies

Question 20

Retailing involves getting the goods or services to the ultimate consumer. A ________ is any business enterprise whose sales volume comes primary from retailing.

Accepted Answer

A)  superstore 
B)  wholesaler 
C)  retailer 
D)  agent 
E)  intermediary

Exam 16: Managing Retailing, Wholesaling, and Logistics

At some stock level point, management must reorder product to refill the inventory to an acceptable level. This "point" is called the ________.

A retailer's most important decision is "location, location, location."

In order to better compete, Arrow Electronics, a global provider of products, services, and solutions to the electronic-component and computer-product industries has sought to strengthen its relationships with manufacturers. Which of the four ways cited in the text has Arrow embraced?

An off-price retailer is one in which the retailer has a broad selection of high-markup, fast-moving, brand-name goods in stock.

A retailer can differentiate itself from other retailers by adopting a services mix from one store to another. Ancillary services are one of the services that retailers can choose to set his operation apart from others.

A company like Dell Computers could decide to use cheap containers in the shipping department to minimize costs. Relate this to the concept of market-logistics objectives.

List four ways for leading industrial distributors to strengthen their relationships with manufacturers.

The real challenge begins, for a retailer, after defining the store's product assortment and that is to develop a product differentiation strategy.

Inventory costs increases at a decreasing rate as customer service levels approach 100 percent fulfillment.

As a brand manager why should you be concerned with the transportation decisions regarding your product?

Traditional brick-and-mortar retailers are responding to the growth of e-commerce by providing and emphasizing ________ as a strong differentiator to stay at home shopping.

One of the trends in retailing includes which of the following?

Retailers can choose to locate in regional shopping malls. Regional shopping malls offer retailers generous parking, and one-stop shopping for consumers.

The growth of "house brands" has sky rocketed in recent years. Why do intermediaries bother to sponsor their own brands?

Any organization selling to the final consumers is doing retailing. However, it does matter how the goods or services are sold and where they are sold.

Retailers can position themselves as offering one of four levels of service. However, self-selection and self-service are the same in discount retailers.

A retailer that has salespeople ready to assist in every phase of the locate-compare-select process for the shopper, that has high staffing, and high specialty goods would be considered a ________ retailer.

________ involves planning the infrastructure to meet demand, then implementing and controlling the physical flows of materials and final goods from points of origin to points of use, to meet customer requirements at a profit.

After deciding on the product-assortment strategy, the retailer must establish merchandise source, ________, and practices.

Retailing involves getting the goods or services to the ultimate consumer. A ________ is any business enterprise whose sales volume comes primary from retailing.