Question 1

The Sports Authority is a sporting goods superstore that provides year-round inventory of equipment for just about any sport you can name.Even during the "off season," equipment for seasonal sports is available at the Sports Authority.Which utility does the Sports Authority best provide?

Accepted Answer

A)  time
B)  convenience
C)  possession
D)  form
E)  performanceF) B) and C)
G) A) and E)

Question 2

The description of how new forms of retail outlets enter the market is referred to as the __________.

Accepted Answer

A)  retail life cycle
B)  product life cycle
C)  wheel of retailing
D)  retail life matrix
E)  retail continuumF) All of the above
G) D) and E)

Question 3

Consumers benefit in dealing with retail corporate chains because

Accepted Answer

A)  corporate chains have more experience than other forms of retailers.
B)  they can own stock in the same company where they shop since corporate chain stock must be publicly-traded.
C)  they can establish a credit history more easily than with other forms of retailers.
D)  there are multiple outlets with similar merchandise and consistent management policies.
E)  they have less stress in making decisions since merchandise is arranged and displayed by professional designers.F) B) and E)
G) A) and B)

Question 4

There are three general forms of retail ownership: independent retailer,corporate chain,and __________.

Accepted Answer

A)  dual ownership
B)  industry consortium
C)  retailing cooperative
D)  contractual system
E)  multi-national cartelF) A) and B)
G) A) and C)

Question 5

Name each of the four utilities offered by retailing and with each,identify a retailer that provides that utility.

Accepted Answer

The four utilities retailing offers are:...

Question 6

Consider Figure 16-A above.This image MOST LIKELY represents the __________,which shows that very dissimilar types of retail outlets can compete with each other as a result of a scrambled merchandising policy.

Accepted Answer

A)  wheel of retailing
B)  retail positioning framework
C)  intertype competition
D)  retail competitive cycle
E)  multichannel retail competitive mapF) B) and C)
G) C) and E)

Question 7

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) C) and D)
G) C) and E)

Question 8

When developing retailing strategies,marketers use what is called the retailing mix,which includes

Accepted Answer

A)  products,services,promotions,and retail communication.
B)  promotions,publicity,and press releases.
C)  retail pricing,store location,retail communication,and merchandise.
D)  physical environment,people,process,and productivity.
E)  direct mail,online stores,traditional stores,and outlet stores.F) A) and B)
G) A) and C)

Question 9

According to the UMD16B: Same-Store Sales Growth Marketing Dashboard above,which retailer has the GREATEST same-store sales growth?

Accepted Answer

A)  Target
B)  Neiman Marcus
C)  Apple
D)  Best Buy
E)  TiffanyF) None of the above
G) B) and D)

Question 10

A retail location that typically has one primary store (usually a department store branch) with 20 to 40 smaller outlets serving a population of consumers who are within a 10- to 20-minute drive is referred to as a(n) __________.

Accepted Answer

A)  power center
B)  regional shopping center
C)  community shopping center
D)  central business district
E)  urban megacenterF) B) and D)
G) A) and B)

Question 11

The term truck jobbers refers to wholesalers who

Accepted Answer

A)  furnish the racks or shelves that display merchandise in retail stores,perform all channel functions,and sell on consignment to retailers.
B)  store all the merchandise they sell in their trucks.
C)  own the merchandise they sell but do not physically handle,stock,or deliver it.
D)  have a small warehouse from which they stock their trucks for distribution to retailers.
E)  work for several producers,carry noncompetitive,complementary merchandise in an exclusive territory,and use over-the-road transportation for all product deliveries.F) C) and D)
G) All of the above

Question 12

The 5.4 million vending machines currently operating in the United States generate more than __________ in annual sales.

Accepted Answer

A)  $359 million
B)  $985 million
C)  $3.8 billion
D)  $19 billion
E)  $46 billionF) B) and E)
G) None of the above

Question 13

A franchise where the franchisor provides step-by-step procedures for most aspects of the business is known as a

Accepted Answer

A)  business-format franchise.
B)  product-distribution franchise.
C)  business franchise venture.
D)  manufacturing franchise.
E)  general service franchise.F) A) and C)
G) B) and D)

Question 14

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

Question 15

Retail outlets,like products,experience the process of growth and decline,which is referred to as the

Accepted Answer

A)  retail life cycle.
B)  wheel of retailing.
C)  product life cycle.
D)  retail continuum.
E)  retail life matrix.F) C) and D)
G) A) and B)

Question 16

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

Question 17

Briefly describe the advantages to the retailer and to the customer of the independent retailer.

Accepted Answer

Advantages to the retailer inc...

Question 18

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.Recently,however,sales have been a bit slow.Jane decides to reduce the price for the frames to $80.What is her maintained markup in dollar terms?

Accepted Answer

A)  $0
B)  $36
C)  $44
D)  $64
E)  $100F) B) and D)
G) B) and C)

Question 19

Vending machines are an example of __________.

Accepted Answer

A)  hypermarkets
B)  direct mail
C)  scrambled merchandising
D)  intertype competition
E)  nonstore retailingF) C) and D)
G) A) and D)

Question 20

Level of service is used to describe the degree of service provided to the customer.Three levels of service are provided by self-,__________-,and full-service retailers.

Accepted Answer

A)  limited
B)  commitment
C)  involvement
D)  obligation
E)  pledgeF) A) and D)
G) B) and E)

Exam 16: Retailing and Wholesaling

Retail outlets,like products,experience the process of growth and decline,which is referred to as the

Correct Answer
verified

Level of service is used to describe the degree of service provided to the customer.Three levels of service are provided by self-,__________-,and full-service retailers.

Correct Answer
verified

The Sports Authority is a sporting goods superstore that provides year-round inventory of equipment for just about any sport you can name.Even during the "off season," equipment for seasonal sports is available at the Sports Authority.Which utility does the Sports Authority best provide?

Correct Answer
verified

There are three general forms of retail ownership: independent retailer,corporate chain,and __________.

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

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 term truck jobbers refers to wholesalers who

Correct Answer
verified

When developing retailing strategies,marketers use what is called the retailing mix,which includes

Correct Answer
verified

Briefly describe the advantages to the retailer and to the customer of the independent retailer.

Correct Answer
verified
Advantages to the retailer inc...
View Answer

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

Correct Answer
verified

Name each of the four utilities offered by retailing and with each,identify a retailer that provides that utility.

Correct Answer
verified
The four utilities retailing offers are:...
View Answer

Correct Answer
verified

The description of how new forms of retail outlets enter the market is referred to as the __________.

Correct Answer
verified

The 5.4 million vending machines currently operating in the United States generate more than __________ in annual sales.

Correct Answer
verified

Consider Figure 16-A above.This image MOST LIKELY represents the __________,which shows that very dissimilar types of retail outlets can compete with each other as a result of a scrambled merchandising policy.

Correct Answer
verified

A retail location that typically has one primary store (usually a department store branch) with 20 to 40 smaller outlets serving a population of consumers who are within a 10- to 20-minute drive is referred to as a(n) __________.

Correct Answer
verified

According to the UMD16B: Same-Store Sales Growth Marketing Dashboard above,which retailer has the GREATEST same-store sales growth?

Correct Answer
verified

Vending machines are an example of __________.

Correct Answer
verified

Consumers benefit in dealing with retail corporate chains because

Correct Answer
verified

A franchise where the franchisor provides step-by-step procedures for most aspects of the business is known as a

Correct Answer
verified

Exam 16: Retailing and Wholesaling

Retail outlets,like products,experience the process of growth and decline,which is referred to as the

Correct AnswerverifiedShow Answer

Level of service is used to describe the degree of service provided to the customer.Three levels of service are provided by self-,__________-,and full-service retailers.

Correct AnswerverifiedShow Answer

The Sports Authority is a sporting goods superstore that provides year-round inventory of equipment for just about any sport you can name.Even during the "off season," equipment for seasonal sports is available at the Sports Authority.Which utility does the Sports Authority best provide?

Correct AnswerverifiedShow Answer

There are three general forms of retail ownership: independent retailer,corporate chain,and __________.

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

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 term truck jobbers refers to wholesalers who

Correct AnswerverifiedShow Answer

When developing retailing strategies,marketers use what is called the retailing mix,which includes

Correct AnswerverifiedShow Answer

Briefly describe the advantages to the retailer and to the customer of the independent retailer.

Correct AnswerverifiedAdvantages to the retailer inc...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Name each of the four utilities offered by retailing and with each,identify a retailer that provides that utility.

Correct AnswerverifiedThe four utilities retailing offers are:...View AnswerShow Answer

Correct AnswerverifiedShow Answer

The description of how new forms of retail outlets enter the market is referred to as the __________.

Correct AnswerverifiedShow Answer

The 5.4 million vending machines currently operating in the United States generate more than __________ in annual sales.

Correct AnswerverifiedShow Answer

Consider Figure 16-A above.This image MOST LIKELY represents the __________,which shows that very dissimilar types of retail outlets can compete with each other as a result of a scrambled merchandising policy.

Correct AnswerverifiedShow Answer

A retail location that typically has one primary store (usually a department store branch) with 20 to 40 smaller outlets serving a population of consumers who are within a 10- to 20-minute drive is referred to as a(n) __________.

Correct AnswerverifiedShow Answer

According to the UMD16B: Same-Store Sales Growth Marketing Dashboard above,which retailer has the GREATEST same-store sales growth?

Correct AnswerverifiedShow Answer

Vending machines are an example of __________.

Correct AnswerverifiedShow Answer

Consumers benefit in dealing with retail corporate chains because

Correct AnswerverifiedShow Answer

A franchise where the franchisor provides step-by-step procedures for most aspects of the business is known as a

Correct AnswerverifiedShow Answer

Correct Answer
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verified
Advantages to the retailer inc...
View Answer

Correct Answer
verified

Correct Answer
verified
The four utilities retailing offers are:...
View Answer

Correct Answer
verified

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Correct Answer
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