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Exam 14: Retailing, Direct Marketing, and Wholesaling

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Question 51

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Merchant wholesalers assume risks of ownership.

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Question 52

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Which of the following is a large-scale, members-only, retailer that combines cash-and-carry wholesaling with discount retailing?

A) Warehouse showroom
B) Warehouse club
C) Catalog showroom
D) Category killer
E) Hypermarket

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Question 53

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Location is important to a retailer because

Martin owns and operates a wholesale hardware business that supplies small hardware parts to various manufacturers in the area. He takes title to the hardware and assumes all risks associated with ownership. Martin is a

Which type of retail outlet can have up to 200,000 square feet?

Wholesalers rarely handle credit for retailers and producers.

You are conducting a business startup workshop sponsored by the Small Business Administration. The workshop attendees are all aspiring business owners who are excited and fearful about the prospect of starting their own business. Early in the workshop, you asked the attendees to complete a questionnaire about their major concerns in starting a new business. The majority of the respondents indicated their biggest concerns were limited capital and lack of business experience. Based on these concerns, which of the following business strategies do you think would be most appropriate for these workshop attendees?

Laura goes to Walmart and buys some clothing, a DVD, and all the groceries she needs for her family. What type of retailer is this particular Walmart?

A franchise is an arrangement in which a supplier grants dealers the right to sell products in exchange for some type of consideration.

By locating in the same general vicinity as other car dealerships, Hartfield Honda can

Veronica Montez works for Bicardi at a location away from the manufacturing plants. She provides wholesale services to wholesale and retail customers, but her facility does not carry inventory. Veronica works at a

What are the two categories of retail stores based on breadth of products offered, and what types of stores are in each category?

Josh tells the loan officer at First Bank and Trust that Clarksville really needs a store that offers high-quality fishing gear to enthusiasts and provides the service and advice that many people want. No other store in the area seems to provide this combination. Josh is trying to use ____ to support his request for a loan to start such a retail operation.

When a retailer advertises a product and makes it available for purchase through telephone or mail orders, the retailer is using

A retailer is an organization that purchases products for the purpose of reselling them to

Karen has been a buyer for Ocean Mist, a large cranberry processor, for several years. Believing that she knows a great deal about cranberries, their growers, and processors, she decides to go into business for herself. Karen wants to assume no risks of spoilage or price fluctuations. She sees herself as simply bringing the growers and processors together. Her new company would be a

Scenario 14.2 Use the following to answer the questions. Lands' End offers clothing and accessories for all members of the typical household. For many years, the products were sold only through catalogs. Later, they were available through the company on its Internet website. In the past few years, Lands' End has partnered with Sears to offer selected Lands' End products inside of Sears retail stores. This move by Lands' End has been criticized by some marketers because it was thought that the Lands' End products were superior in quality to those that are available in Sears stores. Additionally, the products available in Sears stores include Craftsman tools, lawn care equipment, and household appliances, which are not Lands' End types of product lines. This may create mixed messages about Lands' End to prospective customers. Refer to Scenario 14.2. The move to sell Land's End products inside of Sears' stores may lead to potential problems with the customer's perception of Lands' End quality, in part due to the functional and psychological picture in the consumer's mind of Sears' stores. This picture is called the ____ of Sears.

Hutton Industries wants to hire an intermediary to help with the distribution of its products. Management needs an intermediary that will represent the company as sellers, but also wants to retain control over pricing and promotion decisions. It should most likely hire a

Most manufacturers' agents prefer to work for one manufacturer at a time to avoid conflicts of interest.

Victor knows that if he decides to buy a franchise, he will most likely have to supply