Question 1

Three common forms of off-price retailers are

Accepted Answer

A)  warehouse clubs,factory outlet stores,and hypermarkets.
B)  warehouse clubs,factory outlets,and single-price or extreme value retailer.
C)  factory outlets,single-price retailers,online auction services.
D)  factory outlets,supercenters,hypermarkets.
E)  extreme value retailers,buying clubs,online auction services.F) A) and E)
G) D) and E)

Question 2

Walmart recently introduced "Site-to-Store" service that

Accepted Answer

A)  offers shoppers a virtual reality shopping experience from their home computers.
B)  allows customers to order online and receive free same-day pickup at a local store.
C)  provides free shipping to customers if they order $45 or more of selected items.
D)  allows customers to "showroom," coming to the store,compare an item's price on the Internet,and then honor a competitor's lower price if they bring an ad of the item to the store.
E)  allows customers hold online auctions for Walmart overstock or seasonal items that are being discontinued to make room for new inventory.F) A) and D)
G) None of the above

Question 3

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

Accepted Answer

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

Question 4

An off-price retailer that requires customers to purchase an annual membership card for the privilege of shopping at the store is referred to as a __________.

Accepted Answer

A)  outlet store
B)  single-price retailer
C)  hypermarket
D)  warehouse club
E)  supercenterF) A) and C)
G) A) and D)

Question 5

A supercenter refers to

Accepted Answer

A)  an auto service center that sells and leases cars as well as repairs them.
B)  a type of specialty outlet.
C)  a store that combines a typical merchandise store with a full-size grocery.
D)  a mall with more than 100 stores and several important anchor stores.
E)  a store one step larger than a hypermarket.F) C) and D)
G) B) and C)

Question 6

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

Question 7

Consider the T.J.Maxx HomeGoods photo above.This retailer uses a(n) __________ pricing practice.

Accepted Answer

A)  markdown
B)  maintained markup
C)  gross margin
D)  manufactured suggested retail
E)  off-price retailF) B) and E)
G) A) and C)

Question 8

Consider the Saks Fifth Avenue Off 5th photo above.This retailer is an example of a(n) __________.

Accepted Answer

A)  hypermarket
B)  markdown store
C)  outlet store
D)  category killer
E)  warehouse clubF) All of the above
G) B) and C)

Question 9

The overlay of sound,video,and graphics with the real-world environment creates what type of reality for wearers of these new Google Glass digital eyeglasses?

Accepted Answer

A)  virtual
B)  cognitive
C)  augmented
D)  apparent
E)  ultimateF) D) and E)
G) C) and D)

Question 10

As shown in Figure 16-2 above,the SMALLEST dollar amount of retail sales in the United States is generated by __________.

Accepted Answer

A)  automotive dealers
B)  food and beverage stores
C)  sporting goods,books,and music stores
D)  electronic stores
E)  furniture and home furnishing storesF) D) and E)
G) B) and D)

Question 11

The degree of service provided to the customer from self-,limited-,and full-service retailers is referred to as __________.

Accepted Answer

A)  involvement
B)  level of service
C)  service commitment
D)  customer obligation
E)  degree of commitmentF) None of the above
G) A) and B)

Question 12

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) __________.

Accepted Answer

A)  hypermarket
B)  general merchandise store
C)  scrambled merchandise store
D)  intertype outlet
E)  specialty outletF) A) and B)
G) All of the above

Question 13

A wholesaler that carries a narrow range of products and performs all channel functions is referred to as a __________.

Accepted Answer

A)  general merchandise wholesaler
B)  truck jobber
C)  specialty merchandise wholesaler
D)  rack jobber
E)  drop shipperF) A) and B)
G) A) and D)

Question 14

Not every suburban store is located in a shopping mall.Many neighborhoods have clusters of 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 parksF) B) and C)
G) A) and C)

Question 15

Growth in the direct-selling industry is the result of two trends: (1) there is a growing number of companies that are using direct selling to reach consumers who prefer one-on-one customer service and a social shopping experience rather than online shipping or big discount stores and (2)

Accepted Answer

A)  many direct selling retailers are expanding into markets outside of the United States.
B)  increased gas prices and traffic congestion are causing people to want stores to deliver products to them.
C)  the pendulum is beginning to swing back to more mothers (and fathers) staying home during the day with children,making direct selling more convenient.
D)  the purchase or lease of real estate to build an actual "brick" retail store is becoming prohibitive.
E)  graduating business students are finding it more difficult to find a traditional sales position and like the idea of being their own bosses.F) C) and D)
G) B) and D)

Question 16

According to Figure 16-10 above,"B" represents which stage of the retail life cycle?

Accepted Answer

A)  growth
B)  early growth
C)  accelerated development
D)  maturity
E)  expansionF) B) and D)
G) C) and D)

Question 17

Vending machines are no longer limited by the need for cash.In Japan,South Korea,and the Philippines,consumers use mobile phones that transmit payments to vending machines wirelessly.This is an example of how vending machines can provide which type of utility?

Accepted Answer

A)  time
B)  place
C)  possession
D)  product
E)  formF) C) and D)
G) B) and E)

Question 18

The largest inventory of wedding dresses in the Southeast can be found at Low's Bridal and Formal in Brinkley,Arkansas.From December 26 to January 16,a prospective bride shopping at Low's can find gowns once priced at $6,000 for $2,999 and $800 gowns for $399.The reduced prices of these gowns are reflected in which retail pricing strategy?

Accepted Answer

A)  markdowns
B)  original markups
C)  future markups
D)  inventory shrinkages
E)  net markupsF) B) and D)
G) A) and E)

Question 19

The average U.S.household now receives __________ direct-mail items or catalogs each week.

Accepted Answer

A)  18
B)  24
C)  32
D)  39
E)  47F) A) and B)
G) C) and D)

Question 20

The central business district refers to

Accepted Answer

A)  a suburban mall that contains up to 100 stores and draws customer from 5 to 10 miles away.
B)  the oldest retailing setting,located in a community's downtown area.
C)  a retail location that typically has one primary store and about 20 to 40 smaller outlets,and serves a population base of about 100,000.
D)  a cluster of stores that serves people who are within a five- to ten-minute drive and serves a population base of under 30,000.
E)  a collection of large stores over 100,000 square feet that offers a mix of about 40 percent food products and 60 percent general merchandise items.F) A) and E)
G) B) and D)

Exam 16: Retailing and Wholesaling

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

Correct Answer
verified

The overlay of sound,video,and graphics with the real-world environment creates what type of reality for wearers of these new Google Glass digital eyeglasses?

Correct Answer
verified

A supercenter refers to

Correct Answer
verified

An off-price retailer that requires customers to purchase an annual membership card for the privilege of shopping at the store is referred to as a __________.

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

Not every suburban store is located in a shopping mall.Many neighborhoods have clusters of 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

A wholesaler that carries a narrow range of products and performs all channel functions is referred to as a __________.

Correct Answer
verified

Three common forms of off-price retailers are

Correct Answer
verified

The degree of service provided to the customer from self-,limited-,and full-service retailers is referred to as __________.

Correct Answer
verified

Growth in the direct-selling industry is the result of two trends: (1) there is a growing number of companies that are using direct selling to reach consumers who prefer one-on-one customer service and a social shopping experience rather than online shipping or big discount stores and (2)

Correct Answer
verified

Consider the Saks Fifth Avenue Off 5^th photo above.This retailer is an example of a(n) __________.

Correct Answer
verified

Correct Answer
verified

The average U.S.household now receives __________ direct-mail items or catalogs each week.

Correct Answer
verified

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) __________.

Correct Answer
verified

Consider the T.J.Maxx HomeGoods photo above.This retailer uses a(n) __________ pricing practice.

Correct Answer
verified

As shown in Figure 16-2 above,the SMALLEST dollar amount of retail sales in the United States is generated by __________.

Correct Answer
verified

Vending machines are no longer limited by the need for cash.In Japan,South Korea,and the Philippines,consumers use mobile phones that transmit payments to vending machines wirelessly.This is an example of how vending machines can provide which type of utility?

Correct Answer
verified

The central business district refers to

Correct Answer
verified

According to Figure 16-10 above,"B" represents which stage of the retail life cycle?

Correct Answer
verified

Walmart recently introduced "Site-to-Store" service that

Correct Answer
verified

Exam 16: Retailing and Wholesaling

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

Correct AnswerverifiedShow Answer

The overlay of sound,video,and graphics with the real-world environment creates what type of reality for wearers of these new Google Glass digital eyeglasses?

Correct AnswerverifiedShow Answer

A supercenter refers to

Correct AnswerverifiedShow Answer

An off-price retailer that requires customers to purchase an annual membership card for the privilege of shopping at the store is referred to as a __________.

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

Not every suburban store is located in a shopping mall.Many neighborhoods have clusters of 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

A wholesaler that carries a narrow range of products and performs all channel functions is referred to as a __________.

Correct AnswerverifiedShow Answer

Three common forms of off-price retailers are

Correct AnswerverifiedShow Answer

The degree of service provided to the customer from self-,limited-,and full-service retailers is referred to as __________.

Correct AnswerverifiedShow Answer

Growth in the direct-selling industry is the result of two trends: (1) there is a growing number of companies that are using direct selling to reach consumers who prefer one-on-one customer service and a social shopping experience rather than online shipping or big discount stores and (2)

Correct AnswerverifiedShow Answer

Consider the Saks Fifth Avenue Off 5th photo above.This retailer is an example of a(n) __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The average U.S.household now receives __________ direct-mail items or catalogs each week.

Correct AnswerverifiedShow Answer

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) __________.

Correct AnswerverifiedShow Answer

Consider the T.J.Maxx HomeGoods photo above.This retailer uses a(n) __________ pricing practice.

Correct AnswerverifiedShow Answer

As shown in Figure 16-2 above,the SMALLEST dollar amount of retail sales in the United States is generated by __________.

Correct AnswerverifiedShow Answer

Vending machines are no longer limited by the need for cash.In Japan,South Korea,and the Philippines,consumers use mobile phones that transmit payments to vending machines wirelessly.This is an example of how vending machines can provide which type of utility?

Correct AnswerverifiedShow Answer

The central business district refers to

Correct AnswerverifiedShow Answer

According to Figure 16-10 above,"B" represents which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

Walmart recently introduced "Site-to-Store" service that

Correct AnswerverifiedShow 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

Consider the Saks Fifth Avenue Off 5^th photo above.This retailer is an example of a(n) __________.

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