Question 1

You and your best friend are considering opening a retail store.You have identified your target market and location.Now you must decide on the format.You are pressing for a store that offers leftover goods,overruns,and irregular merchandise sold at less than full retail.This is a description of a(n)_________ retailer.

Accepted Answer

A)  off-price 
B)  self-service 
C)  discount 
D)  limited-service 
E)  none of the above

Question 2

Retailers develop their own "store brands" to differentiate themselves from other retailers and the national branded merchandise.

Accepted Answer

A) True 
 B)False

Question 3

Market-logistics strategies must be derived from ________,rather than solely from cost considerations.

Accepted Answer

A)  competitive analysis 
B)  low-cost considerations 
C)  cost strategies 
D)  business strategies 
E)  marketing strategies

Question 4

There is generally a relationship between high customer traffic and high rents in choosing a retail location.

Accepted Answer

A) True 
 B)False

Question 5

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 (reorder) point 
B)  inventory 
C)  minimum inventory level 
D)  inventory carrying costs 
E)  none of the above

Question 6

In your restaurant you offer a wide variety of dishes and are open for breakfast,lunch,and dinner.In terms of product assortment,you can claim that your restaurant has a product assortment that has ________.

Accepted Answer

A)  a narrow focus and narrow target market 
B)  appeal to all consumers 
C)  location and variety 
D)  variety and long hours 
E)  breadth and depth

Question 7

Retailers are generally eager to stock new products,making it difficult for manufacturers to keep older,but proven brands on the shelves.

Accepted Answer

A) True 
 B)False

Question 8

Although the overwhelming bulk of goods and services are sold through stores,nonstore retailing has been growing much faster than store retailing.Nonstore retailing falls into four major categories.List and briefly define each category.

Accepted Answer

The answer of Although the overwhelming bulk of goods and...

Question 9

Maximum customer service implies larger inventories,premium transportation,and multiple warehouses,all of which raise market-logistics costs.Market-logistics costs interact with marketing strategy and are often ________ related.

Accepted Answer

A)  disproportionately 
B)  positively 
C)  negatively 
D)  complementarily 
E)  none of the above

Question 10

Wholesaler-distributors have faced mounting pressure in recent years.They have had to develop appropriate strategic responses.One major drive has been to increase ________ productivity by managing their inventories and receivables better.

Accepted Answer

A)  product assortment 
B)  buying practices 
C)  personnel 
D)  asset 
E)  products

Question 11

Retailers are rapidly improving their skills in demand forecasting,merchandise selection,stock control,space allocation,and ________.

Accepted Answer

A)  advertising 
B)  display 
C)  choosing the media mix 
D)  selecting the marketing channels 
E)  none of the above

Question 12

Because shelf space is scarce,many supermarkets now charge a ________ for accepting a new brand,to cover the cost of listing and stocking it.

Accepted Answer

A)  generic 
B)  slotting fee 
C)  shopping strip 
D)  promotion allowance 
E)  none of the above

Question 13

Four major decisions must be made with regard to market logistics: order processing,warehousing,inventory,and ________.

Accepted Answer

A)  transportation 
B)  purchases 
C)  pricing 
D)  information 
E)  none of the above

Question 14

As a sales representative for a major food manufacturer,your largest customer has asked you to provide him with a product that meets the following definition: It must not contain any brand name,be plainly packaged,use less expensive ingredients,use lower-quality raw products in its makeup,and not allocate any funds for advertising and promotion.What type of product is your buyer describing that he wants from you

Accepted Answer

A)  Reseller brand 
B)  Store brand 
C)  Private label 
D)  House brand 
E)  Generic

Question 15

The functions that wholesalers perform include all of the following EXCEPT ________.

Accepted Answer

A)  bulk breaking 
B)  buying and assortment building 
C)  financing 
D)  producing 
E)  market information

Question 16

Supply chain management (SCM)starts before physical distribution.It involves procuring the right inputs,_____ them efficiently into finished products,and then distributing them to the right customers.

Accepted Answer

A)  using 
B)  converting 
C)  delivering 
D)  labeling 
E)  procuring

Question 17

Integrated logistics systems (ILS)involves materials management,________,and physical distribution,aided by information technology.

Accepted Answer

A)  information flow systems 
B)  material flow systems 
C)  cash flow systems 
D)  product management systems 
E)  none of the above

Question 18

The real challenge of retail category management begins after defining the store's product assortment,and that is to develop a product-differentiation strategy.Give three possible retailing product-differentiation strategies.

Accepted Answer

The answer of The real challenge of retail category management...

Question 19

The logistics system must be information intensive and establish electronic links among all the significant parties.

Accepted Answer

A) True 
 B)False

Question 20

How do generics differ from private-label brands

Accepted Answer

The answer of How do generics differ from private-label brands...

Exam 16: Managing Retailing, Wholesaling, and Logistics

Retailers develop their own "store brands" to differentiate themselves from other retailers and the national branded merchandise.

Market-logistics strategies must be derived from ________,rather than solely from cost considerations.

There is generally a relationship between high customer traffic and high rents in choosing a retail location.

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

In your restaurant you offer a wide variety of dishes and are open for breakfast,lunch,and dinner.In terms of product assortment,you can claim that your restaurant has a product assortment that has ________.

Retailers are generally eager to stock new products,making it difficult for manufacturers to keep older,but proven brands on the shelves.

Although the overwhelming bulk of goods and services are sold through stores,nonstore retailing has been growing much faster than store retailing.Nonstore retailing falls into four major categories.List and briefly define each category.

Maximum customer service implies larger inventories,premium transportation,and multiple warehouses,all of which raise market-logistics costs.Market-logistics costs interact with marketing strategy and are often ________ related.

Wholesaler-distributors have faced mounting pressure in recent years.They have had to develop appropriate strategic responses.One major drive has been to increase ________ productivity by managing their inventories and receivables better.

Retailers are rapidly improving their skills in demand forecasting,merchandise selection,stock control,space allocation,and ________.

Because shelf space is scarce,many supermarkets now charge a ________ for accepting a new brand,to cover the cost of listing and stocking it.

Four major decisions must be made with regard to market logistics: order processing,warehousing,inventory,and ________.

The functions that wholesalers perform include all of the following EXCEPT ________.

Supply chain management (SCM) starts before physical distribution.It involves procuring the right inputs,_____ them efficiently into finished products,and then distributing them to the right customers.

Integrated logistics systems (ILS) involves materials management,________,and physical distribution,aided by information technology.

The real challenge of retail category management begins after defining the store's product assortment,and that is to develop a product-differentiation strategy.Give three possible retailing product-differentiation strategies.

The logistics system must be information intensive and establish electronic links among all the significant parties.

How do generics differ from private-label brands