Question 1

Victoria's Secret,a nationwide chain,carries great depth in women's lingerie-and almost no other products.Victoria's Secret is an example of a(n) __________.

Accepted Answer

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

Question 2

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.What is her markup in dollar terms?

Accepted Answer

A)  $36
B)  $64
C)  $100
D)  $360
E)  $1,000F) B) and C)
G) A) and D)

Question 3

General merchandise stores such as Walmart,Kmart,and Target are usually considered __________ retailers.

Accepted Answer

A)  exclusive-service
B)  minimal-service
C)  self-service
D)  full-service
E)  limited-serviceF) A) and B)
G) A) and C)

Question 4

A strip mall refers to a

Accepted Answer

A)  suburban mall containing up to 100 stores that draws customer from a 5-to 10-mile radius.
B)  a cluster of stores in a downtown area.
C)  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.
D)  cluster of neighborhood stores designed to serve people within a five- to ten- minute drive.
E)  collection of category killers usually located outside a major amusement park or attraction.F) A) and D)
G) C) and E)

Question 5

Which of the following statements regarding corporate chains is most accurate?

Accepted Answer

A)  Corporate chains usually avoid using centralized decision-making.
B)  Corporate chains generally own most if not all of their suppliers so they do not have to negotiate for price.
C)  Consumers have fewer choices in merchandise since all buying decisions are made unilaterally.
D)  Corporate chains offer the least benefit to consumers since they are the farthest removed from the ultimate consumer.
E)  Corporate chains are multiple outlets under common ownership.F) B) and E)
G) All of the above

Question 6

Scrambled merchandising refers to

Accepted Answer

A)  displaying merchandise throughout a store rather than keeping all similar items together in rows on a shelf or point of purchase displays.
B)  offering several unrelated product lines in a single store.
C)  changing where items are displayed in a store to create customer interest to a variety of product lines.
D)  offering several unrelated product lines in a multiple stores.
E)  offering several related product lines in a single store.F) A) and B)
G) C) and E)

Question 7

Many retailers take a markdown as soon as sales fall to free valuable selling space and cash.This illustrates one tactic for handling the _________ of markdowns.

Accepted Answer

A)  timing
B)  demand
C)  availability
D)  bargain hunting
E)  customer valueF) A) and E)
G) B) and C)

Question 8

Which of the following is one of the largest retailers in the United States?

Accepted Answer

A)  Hallmark
B)  Procter and Gamble
C)  Merck
D)  Home Depot
E)  Johnson and JohnsonF) A) and E)
G) B) and D)

Question 9

The four major types of limited-service merchant wholesalers are cash and carry wholesalers,drop shippers,truck jobbers,and __________.

Accepted Answer

A)  display vendors
B)  rack jobbers
C)  point of purchase wholesalers
D)  transport vendors
E)  container transport vendorsF) B) and E)
G) D) and E)

Question 10

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 11

Kitchen Window is a is a one-stop treasure trove for cooks.The locally-owned gourmet specialty store carries more than 14,000 items in stock.Its knowledgeable staff offers personalized service that will even gift-wrap your purchases free of charge.It also offers a shop for repairs should your appliances need maintenance.Kitchen Window is a __________ retailer.

Accepted Answer

A)  exclusive-service
B)  upscale-service
C)  self-service
D)  limited-service
E)  full-serviceF) D) and E)
G) A) and D)

Question 12

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

Accepted Answer

A)  scope; span
B)  breadth; depth
C)  breadth; inventory
D)  scope; inventory
E)  range; spanF) C) and E)
G) None of the above

Question 13

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

Accepted Answer

Advantages to the retailer inc...

Exam 13: Retailing and Wholesaling

Victoria's Secret,a nationwide chain,carries great depth in women's lingerie-and almost no other products.Victoria's Secret is an example of a(n) __________.

Correct Answer
verified

Scrambled merchandising refers to

Correct Answer
verified

Correct Answer
verified

Which of the following statements regarding corporate chains is most accurate?

Correct Answer
verified

Which of the following is one of the largest retailers in the United States?

Correct Answer
verified

The four major types of limited-service merchant wholesalers are cash and carry wholesalers,drop shippers,truck jobbers,and __________.

Correct Answer
verified

General merchandise stores such as Walmart,Kmart,and Target are usually considered __________ retailers.

Correct Answer
verified

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

Correct Answer
verified

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.What is her markup in dollar terms?

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

Many retailers take a markdown as soon as sales fall to free valuable selling space and cash.This illustrates one tactic for handling the _________ of markdowns.

Correct Answer
verified

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

Correct Answer
verified
Merchant wholesalers are classified eith...
View Answer

A strip mall refers to a

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Victoria's Secret,a nationwide chain,carries great depth in women's lingerie-and almost no other products.Victoria's Secret is an example of a(n) __________.

Correct AnswerverifiedShow Answer

Scrambled merchandising refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements regarding corporate chains is most accurate?

Correct AnswerverifiedShow Answer

Which of the following is one of the largest retailers in the United States?

Correct AnswerverifiedShow Answer

The four major types of limited-service merchant wholesalers are cash and carry wholesalers,drop shippers,truck jobbers,and __________.

Correct AnswerverifiedShow Answer

General merchandise stores such as Walmart,Kmart,and Target are usually considered __________ retailers.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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.What is her markup in dollar terms?

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

Many retailers take a markdown as soon as sales fall to free valuable selling space and cash.This illustrates one tactic for handling the _________ of markdowns.

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

A strip mall refers to a

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified
Merchant wholesalers are classified eith...
View Answer

Correct Answer
verified