Question 1

Which form of retailing is Best Buy now using in airports to distribute its mobile phone and computer accessories, digital cameras, flash drives, and other consumer electronics?

Accepted Answer

A)   vending machines
B)   salespeople with mobile carts
C)   mall-scale traditional retail stores
D)   salespeople wearing Best Buy uniforms with products in backpacks
E)   freestanding kiosks staffed with knowledgeable sales personnelF) B) and D)
G) A) and B)

Question 2

Which method of retail outlet classification is most appropriate for describing franchise operations?

Accepted Answer

A)   form of ownership
B)   level of service
C)   merchandise line
D)   method of operation
E)   revenues generatedF) All of the above
G) C) and E)

Question 3

Identify and describe the functions of agents and brokers.

Accepted Answer

Agents and brokers do not take title to ...

Question 4

Subway restaurants that offer sandwiches made exactly to each customer's preference are providing ________ utility.

Accepted Answer

A)   time
B)   place
C)   possession
D)   form
E)   processF) C) and E)
G) A) and B)

Question 5

Which type of store gives shoppers the greatest variety of merchandise?

Accepted Answer

A)   a hypermarket
B)   a specialty clothing store
C)   a limited-line gift store
D)   a clothing outlet
E)   a discount storeF) B) and E)
G) A) and B)

Question 6

Most specialty stores and department stores, which provide many services to their customers, are considered to be

Accepted Answer

A)   exclusive-service retailers.
B)   limited-service retailers.
C)   full-service retailers.
D)   unlimited-service retailers.
E)   exhaustive-service retailers.F) All of the above
G) C) and D)

Question 7

A huge shopping strip with multiple anchor (or national)  stores is referred to as a

Accepted Answer

A)   central business district.
B)   regional shopping center.
C)   community shopping center.
D)   strip mall.
E)   power center.F) D) and E)
G) A) and E)

Question 8

When Paulette first saw the dress in the store window, she knew two things. She had to own the dress, and she could not afford it at its current price. Disappointed, she left. Two weeks later, she passed by the store again and saw that the price of the dress had been reduced to one that she could afford. Specifically, the store had reduced the price by 30 percent to "move" it. Paulette was able to purchase the dress because of

Accepted Answer

A)   a negative markup.
B)   a markup elimination.
C)   a markdown.
D)   a liquidity reduction.
E)   an increase in net margin.F) B) and E)
G) A) and D)

Question 9

The greatest dollar amount of retail sales in the United States is generated by

Accepted Answer

A)   food and beverage stores.
B)   sporting goods, hobby, book, and music stores.
C)   electronic stores.
D)   motor vehicle and parts dealers.
E)   furniture and home furnishing stores.F) A) and E)
G) A) and D)

Question 10

Many supermarkets have in-store restaurants where a customer can buy prepared meals to take home or eat there. Supermarkets and restaurants that provide these same kinds of meals are engaged in ________ competition.

Accepted Answer

A)   intertype
B)   institutional
C)   intermodal
D)   functional
E)   selectiveF) D) and E)
G) None of the above

Question 11

The two prominent types of limited-service merchant wholesalers are rack jobbers and

Accepted Answer

A)   machine vendors.
B)   credit line wholesalers.
C)   transport vendors.
D)   cash and carry wholesalers.
E)   container transport vendors.F) All of the above
G) C) and D)

Question 12

A drugstore that sells carries food, cosmetics, magazines, paper products, toys, small hardware items, and pharmaceuticals is an example of a retailer using

Accepted Answer

A)   multiple distribution channels.
B)   full service.
C)   scrambled merchandising.
D)   intertype competition.
E)   dual channel marketing.F) A) and B)
G) A) and C)

Question 13

Explain the difference between a hypermarket and a supercenter.

Accepted Answer

The hypermarket is a form of scrambled m...

Question 14

Another term for maintained markup is

Accepted Answer

A)   original markup.
B)   maintained markup.
C)   markdown.
D)   gross margin.
E)   net margin.F) C) and D)
G) A) and B)

Question 15

Many neighborhoods have clusters of retail stores, referred to as a strip mall, to serve people who are within a 5- to 10-minute drive. Unlike the larger shopping centers, the composition of these stores usually

Accepted Answer

A)   is unplanned.
B)   includes national anchor stores.
C)   is restricted to privately owned specialty stores.
D)   is mainly fast-food restaurants.
E)   includes amusement or theme parks, or movie theaters.F) C) and E)
G) A) and B)

Question 16

Kohl's is a moderately priced retailer that sells name-brand fashions and home goods. A few salespeople are available in the jewelry department, but customers are responsible for most of their shopping activities. Kohl's provides its consumers with

Accepted Answer

A)   full service.
B)   limited service.
C)   self-service.
D)   restricted service.
E)   functional service.F) B) and C)
G) A) and C)

Question 17

Of these categories, the smallest dollar amount of retail sales in the United States is generated by

Accepted Answer

A)   motor vehicle and parts dealers.
B)   food and beverage stores.
C)   sporting goods, hobby, music, and book stores.
D)   gasoline stations.
E)   building material and garden stores.F) All of the above
G) None of the above

Question 18

To continue to be successful, Mall of America must

Accepted Answer

A)   focus mostly on attracting suitable employees.
B)   keep a huge and diverse portfolio of retailers and attractions in the mall.
C)   refine and focus the retail mix to create a more consistent purchasing experience.
D)   promote its location as a key feature.
E)   reduce the variety of retailers to contain the costs of appealing to a wide range of customers.F) A) and B)
G) D) and E)

Question 19

Figure 16-9
-Figure 16-9 above shows the wheel of retailing, which indicates that retail outlets typically go through changes with the passage of time, starting at Box A. What characteristics in the wheel of retailing does B represent?

Accepted Answer

A)   low breadth of product, high depth of product, and high status
B)   higher prices, higher margins, and higher status
C)   low breadth of product, low depth of product, and low status
D)   moderate prices, low margins, and high status
E)   high depth of product, low margins, and mixed statusF) C) and D)
G) A) and B)

Question 20

Outside the United States, large retailers include ________ in Japan, Carrefour in France, Metro Group in Germany, and Tesco in Britain.

Accepted Answer

A)   Aeon
B)   Toshei
C)   Seebi
D)   Goshen
E)   ToshiF) A) and E)
G) None of the above

Exam 16: Retailing and Wholesaling

Of these categories, the smallest dollar amount of retail sales in the United States is generated by

Correct Answer
verified

Correct Answer
verified

Which method of retail outlet classification is most appropriate for describing franchise operations?

Correct Answer
verified

Identify and describe the functions of agents and brokers.

Correct Answer
verified
Agents and brokers do not take title to ...
View Answer

The two prominent types of limited-service merchant wholesalers are rack jobbers and

Correct Answer
verified

To continue to be successful, Mall of America must

Correct Answer
verified

A huge shopping strip with multiple anchor (or national) stores is referred to as a

Correct Answer
verified

Many neighborhoods have clusters of retail stores, referred to as a strip mall, to serve people who are within a 5- to 10-minute drive. Unlike the larger shopping centers, the composition of these stores usually

Correct Answer
verified

Figure 16-9 -Figure 16-9 above shows the wheel of retailing, which indicates that retail outlets typically go through changes with the passage of time, starting at Box A. What characteristics in the wheel of retailing does B represent?

Correct Answer
verified

Another term for maintained markup is

Correct Answer
verified

A drugstore that sells carries food, cosmetics, magazines, paper products, toys, small hardware items, and pharmaceuticals is an example of a retailer using

Correct Answer
verified

Many supermarkets have in-store restaurants where a customer can buy prepared meals to take home or eat there. Supermarkets and restaurants that provide these same kinds of meals are engaged in ________ competition.

Correct Answer
verified

Kohl's is a moderately priced retailer that sells name-brand fashions and home goods. A few salespeople are available in the jewelry department, but customers are responsible for most of their shopping activities. Kohl's provides its consumers with

Correct Answer
verified

Explain the difference between a hypermarket and a supercenter.

Correct Answer
verified
The hypermarket is a form of scrambled m...
View Answer

Which type of store gives shoppers the greatest variety of merchandise?

Correct Answer
verified

The greatest dollar amount of retail sales in the United States is generated by

Correct Answer
verified

Subway restaurants that offer sandwiches made exactly to each customer's preference are providing ________ utility.

Correct Answer
verified

Outside the United States, large retailers include ________ in Japan, Carrefour in France, Metro Group in Germany, and Tesco in Britain.

Correct Answer
verified

Which form of retailing is Best Buy now using in airports to distribute its mobile phone and computer accessories, digital cameras, flash drives, and other consumer electronics?

Correct Answer
verified

Most specialty stores and department stores, which provide many services to their customers, are considered to be

Correct Answer
verified

Exam 16: Retailing and Wholesaling

Of these categories, the smallest dollar amount of retail sales in the United States is generated by

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which method of retail outlet classification is most appropriate for describing franchise operations?

Correct AnswerverifiedShow Answer

Identify and describe the functions of agents and brokers.

Correct AnswerverifiedAgents and brokers do not take title to ...View AnswerShow Answer

The two prominent types of limited-service merchant wholesalers are rack jobbers and

Correct AnswerverifiedShow Answer

To continue to be successful, Mall of America must

Correct AnswerverifiedShow Answer

A huge shopping strip with multiple anchor (or national) stores is referred to as a

Correct AnswerverifiedShow Answer

Many neighborhoods have clusters of retail stores, referred to as a strip mall, to serve people who are within a 5- to 10-minute drive. Unlike the larger shopping centers, the composition of these stores usually

Correct AnswerverifiedShow Answer

Figure 16-9 -Figure 16-9 above shows the wheel of retailing, which indicates that retail outlets typically go through changes with the passage of time, starting at Box A. What characteristics in the wheel of retailing does B represent?

Correct AnswerverifiedShow Answer

Another term for maintained markup is

Correct AnswerverifiedShow Answer

A drugstore that sells carries food, cosmetics, magazines, paper products, toys, small hardware items, and pharmaceuticals is an example of a retailer using

Correct AnswerverifiedShow Answer

Many supermarkets have in-store restaurants where a customer can buy prepared meals to take home or eat there. Supermarkets and restaurants that provide these same kinds of meals are engaged in ________ competition.

Correct AnswerverifiedShow Answer

Kohl's is a moderately priced retailer that sells name-brand fashions and home goods. A few salespeople are available in the jewelry department, but customers are responsible for most of their shopping activities. Kohl's provides its consumers with

Correct AnswerverifiedShow Answer

Explain the difference between a hypermarket and a supercenter.

Correct AnswerverifiedThe hypermarket is a form of scrambled m...View AnswerShow Answer

Which type of store gives shoppers the greatest variety of merchandise?

Correct AnswerverifiedShow Answer

The greatest dollar amount of retail sales in the United States is generated by

Correct AnswerverifiedShow Answer

Subway restaurants that offer sandwiches made exactly to each customer's preference are providing ________ utility.

Correct AnswerverifiedShow Answer

Outside the United States, large retailers include ________ in Japan, Carrefour in France, Metro Group in Germany, and Tesco in Britain.

Correct AnswerverifiedShow Answer

Which form of retailing is Best Buy now using in airports to distribute its mobile phone and computer accessories, digital cameras, flash drives, and other consumer electronics?

Correct AnswerverifiedShow Answer

Most specialty stores and department stores, which provide many services to their customers, are considered to be

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Agents and brokers do not take title to ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The hypermarket is a form of scrambled m...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified