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-According to the Same-Store Sales Growth Marketing Dashboard above, which retailer has the GREATEST same-store sales growth? A) Target B) Neiman Marcus C) Apple D) Best Buy E) Tiffany -According to the Same-Store Sales Growth Marketing Dashboard above, which retailer has the GREATEST same-store sales growth?


A) Target
B) Neiman Marcus
C) Apple
D) Best Buy
E) Tiffany

F) A) and C)
G) A) and D)

Correct Answer

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During which stage of the retail life cycle do companies establish multiple outlets?


A) decline
B) maturity
C) accelerated development
D) introduction
E) early growth

F) A) and E)
G) A) and B)

Correct Answer

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Texas-based Whole Foods supermarkets target people who want to eat healthy. The stores use placards throughout, which tell shoppers about the farmers who grew and harvested the various products sold. This use of signage to provide consumer information is a part of which element of the retailing mix?


A) communication
B) pricing
C) merchandise
D) goods and services factor
E) location

F) C) and E)
G) B) and C)

Correct Answer

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When setting prices for merchandise, retailers must decide on the markup, markdown, and the __________ for markdowns.


A) relevance
B) necessity
C) percentage
D) timing
E) consequence

F) A) and B)
G) A) and C)

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Originally, filters for Mr. Coffee electric-drip coffee makers were sold through appliance and mass merchandise stores. If the company decided to sell the filters in grocery stores where customers purchased their coffee, what type of intermediaries would the company most likely hire?


A) a full-line wholesaler
B) a drop shipper
C) a food broker
D) a truck jobber
E) a manufacturer's representative

F) C) and D)
G) A) and C)

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A markup refers to


A) the difference between the final selling price and how the customer values the product.
B) selling brand name merchandise at lower than regular prices.
C) the amount added to the cost the retailer paid for a product to reach the final selling price.
D) the difference between the retail cost and initial selling price.
E) the reduction in retail price, usually expressed as a percentage equal to the amount reduced, divided by the original price, and then multiplied by 100.

F) B) and D)
G) A) and B)

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Which type of outlet is most likely in its decline stage of the retail life cycle?


A) single-price stores
B) value-retail centers
C) online retailers
D) general stores
E) convenience stores

F) D) and E)
G) A) and C)

Correct Answer

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Which of the following is an example of nonstore retailing?


A) hypermarkets
B) supercenters
C) shopping centers
D) vending machines
E) general merchandise stores

F) None of the above
G) B) and E)

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Explain the difference between full-service and limited-service merchant wholesalers. List and describe the types of wholesalers that belong in each category.

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Merchant wholesalers are classified eith...

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Retail outlets vary by their merchandise lines, the key distinction being the __________ and __________ of the items offered to customers.


A) scope; span
B) breadth; depth
C) breadth; inventory
D) scope; inventory
E) range; span

F) C) and D)
G) A) and D)

Correct Answer

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Mike's Camera is a retailer that carries a full line of professional and amateur cameras, develops and/or prints all types of film and digital photos, and even sells darkroom equipment. Mike's Camera is an example of a(n) __________.


A) hypermarket
B) general merchandise store
C) scrambled merchandise store
D) intertype outlet
E) specialty outlet

F) All of the above
G) A) and B)

Correct Answer

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Independent retailers account for most of the __________ retail establishments in the United States.


A) 50,000
B) 90,000
C) 500,000
D) 900,000
E) 1.1 million

F) D) and E)
G) A) and D)

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The retailing mix refers to


A) the activities related to managing the store and the merchandise in the store, which includes product, price, promotion, and profit.
B) the activities related to managing the store and the merchandise in the store, which includes the four utilities of time, form, possession, and place.
C) the activities related to managing the store and the merchandise in the store, which includes the colors, sizes, shapes, and perceived value of the store's products.
D) the activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise.
E) the activities related to managing the store and the merchandise in the store, which includes selection of store location, selection of merchandise, hiring and training of employees, and promotion of both the store and products.

F) A) and B)
G) B) and C)

Correct Answer

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The marketing metrics related to a retailer's customers include all of the following EXCEPT:


A) the number of customers per day or per hour.
B) the average length of a store visit.
C) the turnover of inventory.
D) the average transaction size per customer.
E) the number of transactions per customer.

F) A) and D)
G) All of the above

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Most stores today are near several others in one of four settings that include all of the following EXCEPT:


A) the regional shopping center.
B) the strip mall.
C) the old-town district.
D) the central business district.
E) the power center.

F) A) and B)
G) None of the above

Correct Answer

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A Woman's Place is a retail store, created and staffed by women, that offers products and services relating to maternity needs. For expectant mothers, it offers advice and personal shopping services, help with hair and/or make-up problems, and free delivery. A Woman's Place is an example of a(n) __________ retailer.


A) franchise-service
B) self-service
C) limited-service
D) full-service
E) specialty-service

F) B) and C)
G) All of the above

Correct Answer

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The music played in the grocery store has a slow tempo to get shoppers to stay longer and hopefully put more items in their cart. Music is part of the grocery store's __________.


A) atmosphere
B) sensory management plan
C) psychological attributes
D) personality type
E) sociological profile

F) C) and D)
G) All of the above

Correct Answer

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Which of the following statements regarding QVC is most accurate?


A) QVC broadcasts five hours a day every weekday evening during prime time.
B) QVC reaches more than 300 million households in the U.S., U.K., Germany, Italy, China, and Japan.
C) QVC never offers the same product two days in a row.
D) QVC sells all its items by dropping the price to less than $10.00 regardless of the product value, if it is not sold in one day.
E) QVC entices customers to stay tuned by offering free products to random callers.

F) D) and E)
G) None of the above

Correct Answer

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The __________ distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet.


A) wheel of retailing
B) service level
C) merchandise line
D) product assortment
E) form of ownership

F) A) and D)
G) B) and C)

Correct Answer

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Which of the following firms has made the wisest wholesaler choice for its product?


A) Sam's Coal Country uses a cash and carry wholesaler for its coal.
B) Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs.
C) Raisha's Retros uses a rack jobber for its replica racecar radios in travel plazas on interstate highways.
D) Shayna's Superior Supplies uses a desk jobber for its staplers.
E) Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights.

F) A) and D)
G) B) and D)

Correct Answer

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