Question 1

General merchandise wholesalers

Accepted Answer

A)  carry a broad assortment of merchandise and perform all channel functions.
B)  own the merchandise they sell but do not physically handle, stock, or deliver it.
C)  have a small warehouse from which they stock their trucks for distribution to retailers.
D)  work for several producers, carry noncompetitive, complementary merchandise in an exclusive territory, and use over-the-road transportation for all product deliveries.
E)  deal exclusively with small low-cost consumer products that are distributed to a select number of large retail chains.F) C) and D)
G) A) and D)

Question 2

Retailers that utilize and integrate a combination of traditional store formats and nonstore formats are referred to as __________.

Accepted Answer

A)  multichannel retailers
B)  scrambled merchandisers
C)  mixed-brand retailers
D)  dual distribution retailers
E)  mixed-channel retailersF) A) and E)
G) B) and C)

Question 3

Williams-Sonoma is a specialty store that caters to customers who want to cook at home. It offers free cooking classes, has frequent demonstrations by cookbook authors, and has employees who are knowledgeable about food preparation. The sales staff helps customers make their selections. Williams-Sonoma is a(n)  __________ retailer.

Accepted Answer

A)  exclusive-service
B)  full-service
C)  complete-service
D)  self-service
E)  limited-serviceF) A) and B)
G) B) and D)

Question 4

The calculation for same-store sales growth is

Accepted Answer

A)  total sales ÷ selling area in square feet.
B)  (store sales in year 2 ÷ store sales in year 1) .
C)  store sales in year 1 ÷ (store sales in year 2 - store sales in year 1) .
D)  (store 1 sales × store 1 square feet)  ÷ (store 2 sales × store 2 square feet) .
E)  (store sales in year 2 - store sales in year 1)  ÷ store sales in year 1.F) A) and D)
G) A) and C)

Question 5

Jane Westerlund owns a small retail picture frame store in a local strip mall. She just bought 10 picture frames from a promising woodworker for $36 each. Based on market conditions, she will sell these for $100 each. What is her markup in dollar terms?

Accepted Answer

A)  $36
B)  $64
C)  $100
D)  $360
E)  $1,000F) A) and C)
G) C) and E)

Question 6

-Neiman Marcus has approximately what amount of sales per square foot according to the UMD16A: Sales per Square Foot Marketing Dashboard above?

Accepted Answer

A)  $300
B)  $600
C)  $900
D)  $3,500
E)  $5,400F) A) and E)
G) A) and D)

Question 7

Compared to the business-format franchise, the franchisor provides a few general guidelines to the franchisee in a

Accepted Answer

A)  corporate chain franchise.
B)  manufacturing franchise.
C)  product-distribution franchise.
D)  general service franchise.
E)  business franchise ventureF) C) and E)
G) A) and E)

Question 8

The term "bricks and clicks" refers to __________ and __________ respectively.

Accepted Answer

A)  catalogs; websites
B)  search engines; websites
C)  traditional retailers; online retailers
D)  buildings; shoppers
E)  computer savvy buyers; computer novice buyersF) A) and B)
G) C) and D)

Question 9

All activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use are referred to as __________.

Accepted Answer

A)  manufacturing
B)  retailing
C)  wholesaling
D)  facilitating
E)  logisticsF) B) and E)
G) A) and C)

Question 10

Coal, lumber, and chemicals, which are sold in extremely large quantities, are traditionally sold by which type of wholesaler?

Accepted Answer

A)  cash and carry wholesalers
B)  rack jobbers
C)  truck jobbers
D)  general merchandise wholesalers
E)  drop shippersF) None of the above
G) A) and B)

Question 11

The four major types of limited-service merchant wholesalers are drop shippers, rack jobbers, truck jobbers, and __________.

Accepted Answer

A)  machine vendors
B)  credit line wholesalers
C)  transport vendors
D)  cash and carry wholesalers
E)  container transport vendorsF) None of the above
G) A) and B)

Question 12

A wholly-owned extension of the producer that does not carry inventory, typically performs only a sales function, and is an alternative to agents and brokers is referred to as a __________.

Accepted Answer

A)  brokering agent
B)  cash and carry wholesaler
C)  manufacturer's sales office
D)  manufacturer's branch office
E)  merchant wholesalerF) A) and C)
G) All of the above

Question 13

One of the most common forms of retail ownership is the __________ owned by a person.

Accepted Answer

A)  corporate chain
B)  consumer cooperative
C)  contractual system
D)  independent retailer
E)  administered systemF) All of the above
G) B) and C)

Question 14

Carla's Cards uses a __________ to sell and market the entire line of greeting cards. It designs promotional plans, sets prices, determines distribution policies, and makes recommendations to Carla on product strategy.

Accepted Answer

A)  manufacturer's agent
B)  broker
C)  manufacturer's branch office
D)  manufacturer's sales office
E)  selling agentF) A) and E)
G) B) and D)

Question 15

Retailers like Williams-Sonoma that sell products through retail stores, catalogs, and online are examples of __________.

Accepted Answer

A)  intertype competitors
B)  multichannel retailers
C)  vertically-integrated retailers
D)  scrambled merchandisers
E)  dual distributorsF) A) and D)
G) All of the above

Question 16

The wheel of retailing refers to

Accepted Answer

A)  the life cycle of most consumer products sold at retailers.
B)  the diffusion of types of retailers for a new product.
C)  the progression of retail locations an outlet goes through.
D)  the description of how new forms of retail outlets enter the market.
E)  the description of retail management philosophies.F) B) and E)
G) A) and B)

Question 17

Online retail purchases by consumers can be the result of several very different approaches, which include: (1)  paying dues to become a member of an online discount service; (2)  participating in an online auction; (3)  going directly to online malls; and (4)

Accepted Answer

A)  becoming a secret shopper.
B)  participating in a buying cooperative.
C)  using direct selling.
D)  using a shopping "bot" to search for a product at locations with the best price.
E)  becoming a member of a research group that evaluates new products.F) B) and E)
G) C) and E)

Question 18

Boston Pizza wants to determine how effective their retail space is compared to other pizza establishments in the local area. The calculation for this indicator is arrived at by determining the __________ for its store and comparing it against the same indicator for all of the other local pizza outlets.

Accepted Answer

A)  gross margin
B)  same-store sales growth
C)  sales per square foot
D)  net profit
E)  net present valueF) D) and E)
G) A) and E)

Question 19

The level of service that requires that the customers themselves to perform many functions during the purchase process is __________.

Accepted Answer

A)  non-service
B)  limited-service
C)  self-service
D)  reduced-service
E)  automated-serviceF) B) and E)
G) All of the above

Question 20

The wholesalers that perform all channel functions and are found in the health foods, automotive parts, and seafood industries would be __________.

Accepted Answer

A)  specialty wholesalers
B)  full-line wholesalers
C)  limited-wholesalers
D)  universal wholesalers
E)  cash and carry wholesalersF) D) and E)
G) All of the above

Exam 13: Retailing and Wholesaling

Retailers that utilize and integrate a combination of traditional store formats and nonstore formats are referred to as __________.

Correct Answer
verified

-Neiman Marcus has approximately what amount of sales per square foot according to the UMD16A: Sales per Square Foot Marketing Dashboard above?

Correct Answer
verified

Correct Answer
verified

The wholesalers that perform all channel functions and are found in the health foods, automotive parts, and seafood industries would be __________.

Correct Answer
verified

The calculation for same-store sales growth is

Correct Answer
verified

Correct Answer
verified

Retailers like Williams-Sonoma that sell products through retail stores, catalogs, and online are examples of __________.

Correct Answer
verified

Coal, lumber, and chemicals, which are sold in extremely large quantities, are traditionally sold by which type of wholesaler?

Correct Answer
verified

The wheel of retailing refers to

Correct Answer
verified

A wholly-owned extension of the producer that does not carry inventory, typically performs only a sales function, and is an alternative to agents and brokers is referred to as a __________.

Correct Answer
verified

The level of service that requires that the customers themselves to perform many functions during the purchase process is __________.

Correct Answer
verified

All activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use are referred to as __________.

Correct Answer
verified

Jane Westerlund owns a small retail picture frame store in a local strip mall. She just bought 10 picture frames from a promising woodworker for $36 each. Based on market conditions, she will sell these for $100 each. What is her markup in dollar terms?

Correct Answer
verified

One of the most common forms of retail ownership is the __________ owned by a person.

Correct Answer
verified

General merchandise wholesalers

Correct Answer
verified

Compared to the business-format franchise, the franchisor provides a few general guidelines to the franchisee in a

Correct Answer
verified

Online retail purchases by consumers can be the result of several very different approaches, which include: (1) paying dues to become a member of an online discount service; (2) participating in an online auction; (3) going directly to online malls; and (4)

Correct Answer
verified

Carla's Cards uses a __________ to sell and market the entire line of greeting cards. It designs promotional plans, sets prices, determines distribution policies, and makes recommendations to Carla on product strategy.

Correct Answer
verified

The four major types of limited-service merchant wholesalers are drop shippers, rack jobbers, truck jobbers, and __________.

Correct Answer
verified

The term "bricks and clicks" refers to and respectively.

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Retailers that utilize and integrate a combination of traditional store formats and nonstore formats are referred to as __________.

Correct AnswerverifiedShow Answer

-Neiman Marcus has approximately what amount of sales per square foot according to the UMD16A: Sales per Square Foot Marketing Dashboard above?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The wholesalers that perform all channel functions and are found in the health foods, automotive parts, and seafood industries would be __________.

Correct AnswerverifiedShow Answer

The calculation for same-store sales growth is

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Retailers like Williams-Sonoma that sell products through retail stores, catalogs, and online are examples of __________.

Correct AnswerverifiedShow Answer

Coal, lumber, and chemicals, which are sold in extremely large quantities, are traditionally sold by which type of wholesaler?

Correct AnswerverifiedShow Answer

The wheel of retailing refers to

Correct AnswerverifiedShow Answer

A wholly-owned extension of the producer that does not carry inventory, typically performs only a sales function, and is an alternative to agents and brokers is referred to as a __________.

Correct AnswerverifiedShow Answer

The level of service that requires that the customers themselves to perform many functions during the purchase process is __________.

Correct AnswerverifiedShow Answer

All activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use are referred to as __________.

Correct AnswerverifiedShow Answer

Jane Westerlund owns a small retail picture frame store in a local strip mall. She just bought 10 picture frames from a promising woodworker for $36 each. Based on market conditions, she will sell these for $100 each. What is her markup in dollar terms?

Correct AnswerverifiedShow Answer

One of the most common forms of retail ownership is the __________ owned by a person.

Correct AnswerverifiedShow Answer

General merchandise wholesalers

Correct AnswerverifiedShow Answer

Compared to the business-format franchise, the franchisor provides a few general guidelines to the franchisee in a

Correct AnswerverifiedShow Answer

Online retail purchases by consumers can be the result of several very different approaches, which include: (1) paying dues to become a member of an online discount service; (2) participating in an online auction; (3) going directly to online malls; and (4)

Correct AnswerverifiedShow Answer

Carla's Cards uses a __________ to sell and market the entire line of greeting cards. It designs promotional plans, sets prices, determines distribution policies, and makes recommendations to Carla on product strategy.

Correct AnswerverifiedShow Answer

The four major types of limited-service merchant wholesalers are drop shippers, rack jobbers, truck jobbers, and __________.

Correct AnswerverifiedShow Answer

The term "bricks and clicks" refers to __________ and __________ respectively.

Correct AnswerverifiedShow Answer

Correct Answer
verified

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verified

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verified

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verified

Correct Answer
verified

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verified

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verified

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verified

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verified

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verified

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verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

The term "bricks and clicks" refers to and respectively.

Correct Answer
verified