Question 1

In a(n)  __________, an individual or firm contracts with a parent company to set up a business or retail outlet.

Accepted Answer

A)  administered system
B)  vertically integrated chain
C)  retail-sponsored cooperative
D)  franchise system
E)  corporate systemF) B) and D)
G) A) and C)

Question 2

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) C) and E)
G) A) and B)

Question 3

The four utilities offered to consumers through retailing are

Accepted Answer

A)  convenience, performance, possession, and form.
B)  time, place, possession, and form.
C)  product, price, place, and promotion.
D)  people, productivity, process, and physical environment.
E)  convenience, consistency, competition, and choiceF) B) and E)
G) A) and E)

Question 4

A common financial indicator of how effectively retail space is used to generate revenue can be calculated by determining __________.

Accepted Answer

A)  net revenue
B)  maintained markup
C)  market share
D)  sales per square foot
E)  return on investmentF) A) and B)
G) B) and C)

Question 5

Many retailers advocate a(n)  __________ strategy, a pricing strategy that may not offer the lowest prices but does try to create value for customers through its service and the total buying experience.

Accepted Answer

A)  customer loyalty
B)  emphasize-value
C)  everyday low pricing
D)  low-margin
E)  everyday fair pricingF) A) and E)
G) A) and C)

Question 6

Rack jobbers refer to wholesalers who

Accepted Answer

A)  furnish the shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.
B)  own the merchandise they sell and have retailers store it in their warehouses.
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.F) All of the above
G) None of the above

Question 7

Retailing that occurs outside a retail outlet, such as through direct marketing, direct selling, and automatic vending, is referred to as __________.

Accepted Answer

A)  limited-line retailing
B)  nonstore retailing
C)  scrambled merchandising
D)  a hypermarket
E)  intertype competitionF) A) and B)
G) B) and E)

Question 8

-Which of the following stores shown in the Sales per Square Foot Marketing Dashboard above has the HIGHEST sales per square foot?

Accepted Answer

A)  Target
B)  Neiman Marcus
C)  Best Buy
D)  Tiffany
E)  AppleF) A) and D)
G) B) and C)

Question 9

One way to assess the importance of retailing to the U.S. and global economies is to measure the

Accepted Answer

A)  price asked for any one item.
B)  cost of goods sold.
C)  people employed in retailing.
D)  net return on capital.
E)  progress towards eliminating of global boundaries.F) B) and E)
G) D) and E)

Question 10

Jim Smith is an avid fly fisherman who lives in Deer Key, FL. For his hobby, Jim needs large rubber rafts, hip waders, special fishing rods, reels, line, and an assortment of fishing tackle and lures. There are no sporting goods stores in Deer Key, so Jim orders his fishing supplies from the L.L. Bean catalog. His supplies are generally delivered to his home within 72 hours. Jim is using a __________ to satisfy his fishing supply needs.

Accepted Answer

A)  home delivery retailer
B)  quick response retailer
C)  direct-mail marketer
D)  flexible response marketer
E)  regional marketerF) C) and E)
G) B) and C)

Question 11

When considering the use of everyday low pricing, one should consider the impact on the brand and store's __________.

Accepted Answer

A)  perceived quality
B)  product benefits
C)  convenience
D)  trademark protection
E)  maintained priceF) A) and B)
G) B) and C)

Question 12

Stores that carry a considerable assortment (depth)  of a related lines 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.F) C) and D)
G) D) and E)

Question 13

In the retail life cycle, __________ is the stage of emergence of a retail outlet, with a sharp departure from existing competition.

Accepted Answer

A)  decline
B)  maturity
C)  introduction
D)  early growth
E)  accelerated developmentF) B) and C)
G) A) and B)

Question 14

Wholesalers who take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for merchandise are referred to as __________.

Accepted Answer

A)  rack jobbers
B)  truck jobbers
C)  transport vendors
D)  cash and carry wholesalers
E)  drop shippersF) B) and C)
G) C) and D)

Question 15

Most stores today are near several others in one of four settings: the central business district, the regional shopping center, the power center, or the __________.

Accepted Answer

A)  suburban downtown
B)  strip mall
C)  exurb value center
D)  rural micromall
E)  urban megacenterF) A) and B)
G) A) and C)

Question 16

QVC is a television home shopping network. It generates sales of more than $8.6 billion from its 60 million customers by

Accepted Answer

A)  restricting purchases only through its Mall of America studio.
B)  broadcasting live five hours a day every weekday evening during prime time.
C)  offering more than 1,150 products each week.
D)  offering overstocked items from retailers at a fraction of the original cost.
E)  running live podcasts and live streaming over the Internet.F) D) and E)
G) B) and D)

Question 17

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)  specialized merchandise storeF) A) and E)
G) B) and D)

Question 18

Discounting generally takes place during which stage of the retail life cycle?

Accepted Answer

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

Question 19

The retailing mix refers to the activities related to the management of and the merchandise in the store, which includes

Accepted Answer

A)  retail pricing, store location, retail communication, and merchandise.
B)  product, price, promotion, and place.
C)  the utilities of time, form, possession, and price.
D)  the colors, sizes, shapes, and point-of-purchase display locations of the store's products.
E)  selection of store location, selection of merchandise, hiring and training of employees, and promotion of both the store and products.F) A) and B)
G) B) and E)

Question 20

Multichannel retailers are retailers that

Accepted Answer

A)  sell different products through entirely different channels.
B)  sell through different channels under different brand names.
C)  utilize strategic and tactical wholesalers.
D)  utilize and integrate a combination of traditional store formats and nonstore formats.
E)  combine two channels for their offerings: one for products and the other for services.F) B) and E)
G) A) and B)

Exam 13: Retailing and Wholesaling

The four utilities offered to consumers through retailing are

Correct Answer
verified

Many retailers advocate a(n) __________ strategy, a pricing strategy that may not offer the lowest prices but does try to create value for customers through its service and the total buying experience.

Correct Answer
verified

A common financial indicator of how effectively retail space is used to generate revenue can be calculated by determining __________.

Correct Answer
verified

Retailing that occurs outside a retail outlet, such as through direct marketing, direct selling, and automatic vending, is referred to as __________.

Correct Answer
verified

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

Multichannel retailers are retailers that

Correct Answer
verified

The retailing mix refers to the activities related to the management of and the merchandise in the store, which includes

Correct Answer
verified

Most stores today are near several others in one of four settings: the central business district, the regional shopping center, the power center, or the __________.

Correct Answer
verified

Rack jobbers refer to wholesalers who

Correct Answer
verified

QVC is a television home shopping network. It generates sales of more than $8.6 billion from its 60 million customers by

Correct Answer
verified

Wholesalers who take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for merchandise are referred to as __________.

Correct Answer
verified

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

Correct Answer
verified

In a(n) __________, an individual or firm contracts with a parent company to set up a business or retail outlet.

Correct Answer
verified

One way to assess the importance of retailing to the U.S. and global economies is to measure the

Correct Answer
verified

Discounting generally takes place during which stage of the retail life cycle?

Correct Answer
verified

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

-Which of the following stores shown in the Sales per Square Foot Marketing Dashboard above has the HIGHEST sales per square foot?

Correct Answer
verified

In the retail life cycle, __________ is the stage of emergence of a retail outlet, with a sharp departure from existing competition.

Correct Answer
verified

When considering the use of everyday low pricing, one should consider the impact on the brand and store's __________.

Correct Answer
verified

Exam 13: Retailing and Wholesaling

The four utilities offered to consumers through retailing are

Correct AnswerverifiedShow Answer

Many retailers advocate a(n) __________ strategy, a pricing strategy that may not offer the lowest prices but does try to create value for customers through its service and the total buying experience.

Correct AnswerverifiedShow Answer

A common financial indicator of how effectively retail space is used to generate revenue can be calculated by determining __________.

Correct AnswerverifiedShow Answer

Retailing that occurs outside a retail outlet, such as through direct marketing, direct selling, and automatic vending, is referred to as __________.

Correct AnswerverifiedShow Answer

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

Multichannel retailers are retailers that

Correct AnswerverifiedShow Answer

The retailing mix refers to the activities related to the management of and the merchandise in the store, which includes

Correct AnswerverifiedShow Answer

Most stores today are near several others in one of four settings: the central business district, the regional shopping center, the power center, or the __________.

Correct AnswerverifiedShow Answer

Rack jobbers refer to wholesalers who

Correct AnswerverifiedShow Answer

QVC is a television home shopping network. It generates sales of more than $8.6 billion from its 60 million customers by

Correct AnswerverifiedShow Answer

Wholesalers who take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for merchandise are referred to as __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In a(n) __________, an individual or firm contracts with a parent company to set up a business or retail outlet.

Correct AnswerverifiedShow Answer

One way to assess the importance of retailing to the U.S. and global economies is to measure the

Correct AnswerverifiedShow Answer

Discounting generally takes place during which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

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

-Which of the following stores shown in the Sales per Square Foot Marketing Dashboard above has the HIGHEST sales per square foot?

Correct AnswerverifiedShow Answer

In the retail life cycle, __________ is the stage of emergence of a retail outlet, with a sharp departure from existing competition.

Correct AnswerverifiedShow Answer

When considering the use of everyday low pricing, one should consider the impact on the brand and store's __________.

Correct AnswerverifiedShow Answer

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