Question 1

Which of the following statements is true of retailing?

Accepted Answer

A) All retail stores are full-service retail stores. 
B) A department store has a narrow product line with a deep assortment. 
C) The largest type of retail outlet is a supermarket. 
D) Services like hotels, banks, airlines, restaurants, colleges, and hospitals can be retailed. 
E) A feature common to all types of retail stores is the use of the everyday low pricing strategy.

Question 2

Which term refers to a wholesaler-sponsored group of independent retailers that engages in group buying and common merchandising?

Accepted Answer

A) factory outlet mall 
B) retailer cooperative 
C) corporate chain 
D) warehouse club 
E) voluntary chain

Question 3

Retail convergence most likely leads to ________.

Accepted Answer

A) reduced differentiation 
B) reduced competition 
C) increased sales 
D) increased profit margins 
E) reduced advertising costs

Question 4

Merchant wholesalers are independently owned businesses.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

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

Question 6

An off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer's surplus, discontinued, or irregular goods is called a ________.

Accepted Answer

A) category killer 
B) factory outlet 
C) specialty store 
D) superstore 
E) warehouse club

Question 7

Department stores are most likely characterized by ________.

Accepted Answer

A) narrow product lines 
B) specialty goods and services 
C) predatory pricing strategies 
D) deep assortments of luxury brands 
E) wide varieties of product lines

Question 8

Retailers are businesses whose sales come primarily from retailing.

Accepted Answer

A) True 
 B)False

Question 9

Carleese, a leading fashion brand, sets up small temporary boutiques across numerous locations during its year-end sale, promoting its outdated products at half the price. These temporary boutiques are referred to as ________.

Accepted Answer

A) power centres 
B) franchises 
C) shopping centres 
D) pop-up stores 
E) category killers

Question 10

A ________ is a small open-air mall with upscale stores, convenient locations, and nonretail activities such as a playground, dining establishments, and a movie theater.

Accepted Answer

A) regional shopping centre 
B) lifestyle centre 
C) community shopping centre 
D) power centre 
E) warehouse club

Question 11

What is the difference between a limited-service and a full-service retailer?

Accepted Answer

The answer of What is the difference between a limited-service...

Question 12

Factory outlet malls combine manufacturers' outlets with off-price retail stores and department store clearance outlets.

Accepted Answer

A) True 
 B)False

Question 13

In a retailer cooperative, independent retailers band together to set up a jointly owned, central wholesale operation and conduct joint merchandising and promotion efforts.

Accepted Answer

A) True 
 B)False

Question 14

Checking out products in traditional stores and purchasing them online is referred to as ________.

Accepted Answer

A) warehousing 
B) wholesaling 
C) retailing 
D) franchising 
E) showrooming

Question 15

Specialty stores are characterized by ________.

Accepted Answer

A) the sale of convenience and staple items 
B) narrow product lines with deep assortments 
C) a wide range of products and categories 
D) low prices on a wide range of goods 
E) routinely purchased food products and services

Question 16

The retailer's product assortment should be distinguishable and also match target shoppers' expectations.

Accepted Answer

A) True 
 B)False

Question 17

A ________ refers to a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit.

Accepted Answer

A) pop-up store 
B) shopping centre 
C) warehouse 
D) category killer 
E) convenience store

Question 18

Which of the following channel functions of wholesalers is demonstrated when a buyer receives quicker delivery because wholesalers are located closer than are producers?

Accepted Answer

A) buying and assortment building 
B) financing 
C) transportation 
D) risk bearing 
E) warehousing

Question 19

Convenience stores are much larger than regular supermarkets and offer a large assortment of routinely purchased food products, nonfood items, and services.

Accepted Answer

A) True 
 B)False

Question 20

Describe superstores, category killers, and service retailers.

Accepted Answer

The answer of Describe superstores, category killers, and service retailers....

Exam 12: Retailing and Wholesaling

Which of the following statements is true of retailing?

Which term refers to a wholesaler-sponsored group of independent retailers that engages in group buying and common merchandising?

Retail convergence most likely leads to ________.

Merchant wholesalers are independently owned businesses.

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

An off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer's surplus, discontinued, or irregular goods is called a ________.

Department stores are most likely characterized by ________.

Retailers are businesses whose sales come primarily from retailing.

Carleese, a leading fashion brand, sets up small temporary boutiques across numerous locations during its year-end sale, promoting its outdated products at half the price. These temporary boutiques are referred to as ________.

A ________ is a small open-air mall with upscale stores, convenient locations, and nonretail activities such as a playground, dining establishments, and a movie theater.

What is the difference between a limited-service and a full-service retailer?

Factory outlet malls combine manufacturers' outlets with off-price retail stores and department store clearance outlets.

In a retailer cooperative, independent retailers band together to set up a jointly owned, central wholesale operation and conduct joint merchandising and promotion efforts.

Checking out products in traditional stores and purchasing them online is referred to as ________.

Specialty stores are characterized by ________.

The retailer's product assortment should be distinguishable and also match target shoppers' expectations.

A ________ refers to a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit.

Which of the following channel functions of wholesalers is demonstrated when a buyer receives quicker delivery because wholesalers are located closer than are producers?

Convenience stores are much larger than regular supermarkets and offer a large assortment of routinely purchased food products, nonfood items, and services.

Describe superstores, category killers, and service retailers.