Question 1

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) using a shopping "bot" to search for a product at the best price; (3) going directly to online malls; and (4)

Accepted Answer

A)   becoming a member of a research group that evaluates new products.
B)   becoming a secret shopper.
C)   participating in an online auction.
D)   participating in a buying cooperative.
E)   becoming a PURL.

Question 2

selling franchises,an organization __________ the cost of expansion and __________ its control compared to owning its own retail outlets.

Accepted Answer

A)   increases; increases
B)   increases; reduces
C)   reduces; increases
D)   increases; retains about the same
E)   reduces; reduces

Question 3

Victoria's Secret,a nationwide chain,carries great depth in women's lingerie-the only type of merchandise it carries.Victoria's Secret is an example of a(n) __________.

Accepted Answer

A)   limited-line stores
B)   single-line store
C)   intertype outlet
D)   general merchandise store
E)   scrambled merchandise store

Question 4

Figure 16-2
-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 stores

Question 5

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 store.
D)   a mall with more than 100 stores and several important anchor stores.
E)   a store one step larger than a hypermarket. C

Question 6

Subway is one of the fastest growing __________.

Accepted Answer

A)   product-distribution franchises
B)   corporate chains
C)   business-format franchises
D)   independently owned retailers
E)   horizontal marketing systems C

Question 7

Currently,the three largest television home shopping programs in the United States are

Accepted Answer

A)   QVC, HSN, and ShopNBC.
B)   Shop at Home, QVC, and HSN.
C)   Direct shopper, Shop at Home, and ShopNBC.
D)   Valuevision, Shop at Home, and QVC.
E)   Shop America, Direct shopper, and J.S. Global.

Question 8

Managing the breadth and depth of merchandise available from many manufacturers requires retail buyers who are

Accepted Answer

A)   efficient and effective managers.
B)   familiar with the needs of the target market.
C)   experienced shoppers.
D)   familiar with retail inventory management.
E)   autocratic and intelligent.

Question 9

horizontal dimension of the retail positioning matrix is

Accepted Answer

A)   depth of product line.
B)   value added.
C)   relative market share.
D)   breadth of product line.
E)   stage in the retail life cycle. B

Question 10

McDonald's,Radio Shack,and Subway are all _________.

Accepted Answer

A)   product-distribution franchises
B)   business franchise venture
C)   business-format franchises
D)   manufacturing franchises
E)   general service franchise

Question 11

Stores that carry a considerable assortment (depth) of a related line of items are referred to as

Accepted Answer

A)   limited-line stores.
B)   general merchandise stores.
C)   scrambled merchandise stores.
D)   hypermarkets.
E)   intertype outlets.

Question 12

and carry wholesalers refer 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)   take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for merchandise.
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 and carry noncompetitive, complementary merchandise in an exclusive territory.

Question 13

Direct-mail and catalog retailing are examples of __________.

Accepted Answer

A)   nonstore retailing
B)   intertype retailing
C)   online retailing
D)   print-media retailing
E)   dual retailing

Question 14

Direct Marketing Association estimates that direct-mail and catalog retailing creates __________ in sales.

Accepted Answer

A)   $100,000
B)   $14,000,000
C)   $190,000,000
D)   $22,000,000,000
E)   $669,000,000,000

Question 15

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

Accepted Answer

Merchant wholesalers are classified eith...

Question 16

Intertype competition refers to competition between

Accepted Answer

A)   very similar types of retail outlets that results from a single-product/single-line merchandising policy.
B)   retailers when the items they sell are virtually indistinguishable from one another.
C)   national and generic brands that are sold side-by-side in a retail outlet.
D)   retailers located in separate quadrants of the retail positioning matrix.
E)   very dissimilar types of retail outlets that results from a scrambled merchandising policy.

Question 17

Wholesalers who handle a limited assortment of fast-moving or perishable items that are sold for cash directly from trucks in their original packages are referred to as __________.

Accepted Answer

A)   rack jobbers
B)   drop shippers
C)   truck jobbers
D)   cash and carry wholesalers
E)   manufacturer's representatives

Question 18

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 __________.

Accepted Answer

A)   atmosphere
B)   image
C)   psychological attributes
D)   personality type
E)   sociological profile

Question 19

neighborhood dry cleaner or florist is likely to be categorized as an independent retailer.This means it is owned by a(n) __________.

Accepted Answer

A)   individual
B)   conglomerate
C)   consortium
D)   corporation
E)   cooperative

Question 20

indicator of how effectively retail space is used to generate revenue is called

Accepted Answer

A)   net sales.
B)   shareholders' equity.
C)   market share.
D)   sales per square foot.
E)   return on investment.

Exam 16: Retailing and Wholesaling

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) using a shopping "bot" to search for a product at the best price; (3) going directly to online malls; and (4)

Correct AnswerverifiedShow Answer

selling franchises,an organization __________ the cost of expansion and __________ its control compared to owning its own retail outlets.

Correct AnswerverifiedShow Answer

Victoria's Secret,a nationwide chain,carries great depth in women's lingerie-the only type of merchandise it carries.Victoria's Secret is an example of a(n) __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

supercenter refers to

Correct AnswerverifiedC

Subway is one of the fastest growing __________.

Correct AnswerverifiedC

Currently,the three largest television home shopping programs in the United States are

Correct AnswerverifiedShow Answer

Managing the breadth and depth of merchandise available from many manufacturers requires retail buyers who are

Correct AnswerverifiedShow Answer

horizontal dimension of the retail positioning matrix is

Correct AnswerverifiedB

McDonald's,Radio Shack,and Subway are all _________.

Correct AnswerverifiedShow Answer

Stores that carry a considerable assortment (depth) of a related line of items are referred to as

Correct AnswerverifiedShow Answer

and carry wholesalers refer to wholesalers who

Correct AnswerverifiedShow Answer

Direct-mail and catalog retailing are examples of __________.

Correct AnswerverifiedShow Answer

Direct Marketing Association estimates that direct-mail and catalog retailing creates __________ in sales.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedMerchant wholesalers are classified eith...View AnswerShow Answer

Intertype competition refers to competition between

Correct AnswerverifiedShow Answer

Wholesalers who handle a limited assortment of fast-moving or perishable items that are sold for cash directly from trucks in their original packages are referred to as __________.

Correct AnswerverifiedShow Answer

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 __________.

Correct AnswerverifiedShow Answer

neighborhood dry cleaner or florist is likely to be categorized as an independent retailer.This means it is owned by a(n) __________.

Correct AnswerverifiedShow Answer

indicator of how effectively retail space is used to generate revenue is called

Correct AnswerverifiedShow Answer

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Merchant wholesalers are classified eith...
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