Question 1

Intangibles, such as a sense of belonging, excitement, style, or warmth, are considered to be __________ of a store's image.

Accepted Answer

A)  functional qualities
B)  sociological qualities
C)  psychological attributes
D)  antecedent attributes
E)  personality elementsF) A) and E)
G) None of the above

Question 2

-An IKEA mail order catalog (see photo above)  is an example of __________ retailing.

Accepted Answer

A)  intrusive
B)  intertype
C)  scrambled
D)  nonstore
E)  hypermarketF) D) and E)
G) C) and D)

Question 3

Discounting a product when the product does not sell at the original price is referred to as a(n)  __________.

Accepted Answer

A)  inverse markup
B)  markdown
C)  price sensitivity
D)  concession pricing
E)  rebateF) A) and D)
G) A) and B)

Question 4

CarMax dealers have adopted a "no-hassle, no-haggle" sales policy that eliminates the need for negotiating. Instead, all customers are offered the same price. Test drives, financing, trade-ins, and leasing are all offered to encourage customers to purchase a car. Which utility does CarMax best provide?

Accepted Answer

A)  product
B)  form
C)  convenience
D)  service
E)  possessionF) None of the above
G) B) and D)

Question 5

According to the retail life cycle, in which stage would market share rise gradually, although profits may be low because of start-up costs?

Accepted Answer

A)  decline
B)  maturity
C)  introduction
D)  accelerated development
E)  early growthF) A) and E)
G) A) and B)

Question 6

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

Accepted Answer

A)  Corporate chains cannot bargain with a manufacturer to obtain product volume discounts due to federal anticompetitive legislation.
B)  Corporate chains generally own most if not all of their suppliers, a practice known as forward integration, so they can save distribution costs.
C)  Consumers have fewer choices in merchandise since all buying decisions are made by a decentralized buying committee.
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) A) and B)
G) A) and C)

Question 7

The oldest retail setting, located in the community's downtown area, is referred to as

Accepted Answer

A)  the central business district.
B)  main street.
C)  the community anchor.
D)  the economic center.
E)  historic commerce district.F) B) and C)
G) A) and D)

Question 8

Loblaws, a Canadian supermarket, features fruits and vegetables piled high on tables that have umbrellas. The idea behind this arrangement was to give Loblaws an open-air market feel. In terms of the retailing mix, this tactic is related to __________.

Accepted Answer

A)  pricing
B)  marketing channel
C)  communication
D)  merchandise
E)  locationF) A) and B)
G) A) and C)

Question 9

What is the impact of retailing for consumers and the economy?

Accepted Answer

Retailing is an important marketing acti...

Question 10

List the four store locations or settings. How has the location of stores changed over the years?

Accepted Answer

Department stores started downtown in mo...

Question 11

Explain the relationship between a franchisee and a franchisor.

Accepted Answer

In a franchise system, an individual or ...

Question 12

Selling agents refer to agents 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)  represent a single producer and are responsible for the entire marketing function of that producer.
C)  work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.
D)  take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for the merchandise.
E)  sell primarily large bulky products.F) None of the above
G) B) and D)

Question 13

-Redbox (see photo above)  provides video rental without a single clerk. What level of service does this retailer offer?

Accepted Answer

A)  limited-service
B)  non-service
C)  reduced-service
D)  self-service
E)  restricted-serviceF) D) and E)
G) A) and E)

Question 14

Warehouse clubs and grocery stores that require customers to scan and bag their own items provide what level of retail service?

Accepted Answer

A)  non-service
B)  limited-service
C)  reduced-service
D)  self-service
E)  automated-serviceF) A) and D)
G) D) and E)

Question 15

Three __________ are provided by retailers: self-, limited-, and full-service.

Accepted Answer

A)  levels of distribution
B)  levels of involvement
C)  levels of service
D)  levels of production
E)  levels of merchandise linesF) B) and E)
G) A) and B)

Question 16

All of the following are reasons why direct mail and catalog retailing are attractive EXCEPT:

Accepted Answer

A)  they can create customer value by providing a fast and convenient means of making a purchase.
B)  they can serve as a tool to encourage consumers to visit a website, a social media page, or even a store.
C)  their paper costs and postal rates have declined, making them less expensive to send.
D)  they can eliminate the cost of a store and clerks.
E)  they can improve marketing efficiency through segmentation and targeting.F) None of the above
G) B) and E)

Question 17

Online retail purchases by consumers can be the result of several very different approaches, which include: (1)  using a shopping "bot" to search for a product at locations with the best price; (2)  participating in an online auction; (3)  going directly to online malls; and (4)

Accepted Answer

A)  paying dues to become a member of an online discount service.
B)  becoming a secret shopper.
C)  participating in a buying cooperative.
D)  using direct selling.
E)  becoming a member of a research group that evaluates new products.F) A) and C)
G) All of the above

Question 18

There are three general forms of retail ownership: independent retailer, corporate chain, and __________.

Accepted Answer

A)  dual ownership
B)  industry consortium
C)  retailing cooperative
D)  contractual system
E)  multi-national cartelF) B) and D)
G) B) and C)

Question 19

Another term for maintained markup is __________.

Accepted Answer

A)  original markup
B)  maintained markup
C)  markdown
D)  gross margin
E)  net marginF) None of the above
G) C) and D)

Question 20

When developing retailing strategies, marketers use what is called the retailing mix, which includes

Accepted Answer

A)  products, services, promotions, and retail communication.
B)  promotions, publicity, and press releases.
C)  retail pricing, store location, retail communication, and merchandise.
D)  physical environment, people, process, and productivity.
E)  direct mail, online stores, traditional stores, and outlet stores.F) A) and B)
G) None of the above

Exam 13: Retailing and Wholesaling

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

Correct Answer
verified

Warehouse clubs and grocery stores that require customers to scan and bag their own items provide what level of retail service?

Correct Answer
verified

According to the retail life cycle, in which stage would market share rise gradually, although profits may be low because of start-up costs?

Correct Answer
verified

Explain the relationship between a franchisee and a franchisor.

Correct Answer
verified
In a franchise system, an individual or ...
View Answer

Loblaws, a Canadian supermarket, features fruits and vegetables piled high on tables that have umbrellas. The idea behind this arrangement was to give Loblaws an open-air market feel. In terms of the retailing mix, this tactic is related to __________.

Correct Answer
verified

Online retail purchases by consumers can be the result of several very different approaches, which include: (1) using a shopping "bot" to search for a product at locations with the best price; (2) participating in an online auction; (3) going directly to online malls; and (4)

Correct Answer
verified

When developing retailing strategies, marketers use what is called the retailing mix, which includes

Correct Answer
verified

List the four store locations or settings. How has the location of stores changed over the years?

Correct Answer
verified
Department stores started downtown in mo...
View Answer

Intangibles, such as a sense of belonging, excitement, style, or warmth, are considered to be __________ of a store's image.

Correct Answer
verified

Another term for maintained markup is __________.

Correct Answer
verified

-An IKEA mail order catalog (see photo above) is an example of __________ retailing.

Correct Answer
verified

Three __________ are provided by retailers: self-, limited-, and full-service.

Correct Answer
verified

-Redbox (see photo above) provides video rental without a single clerk. What level of service does this retailer offer?

Correct Answer
verified

The oldest retail setting, located in the community's downtown area, is referred to as

Correct Answer
verified

What is the impact of retailing for consumers and the economy?

Correct Answer
verified
Retailing is an important marketing acti...
View Answer

Correct Answer
verified

There are three general forms of retail ownership: independent retailer, corporate chain, and __________.

Correct Answer
verified

All of the following are reasons why direct mail and catalog retailing are attractive EXCEPT:

Correct Answer
verified

Discounting a product when the product does not sell at the original price is referred to as a(n) __________.

Correct Answer
verified

Selling agents refer to agents who

Correct Answer
verified

Exam 13: Retailing and Wholesaling

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

Correct AnswerverifiedShow Answer

Warehouse clubs and grocery stores that require customers to scan and bag their own items provide what level of retail service?

Correct AnswerverifiedShow Answer

According to the retail life cycle, in which stage would market share rise gradually, although profits may be low because of start-up costs?

Correct AnswerverifiedShow Answer

Explain the relationship between a franchisee and a franchisor.

Correct AnswerverifiedIn a franchise system, an individual or ...View AnswerShow Answer

Loblaws, a Canadian supermarket, features fruits and vegetables piled high on tables that have umbrellas. The idea behind this arrangement was to give Loblaws an open-air market feel. In terms of the retailing mix, this tactic is related to __________.

Correct AnswerverifiedShow Answer

Online retail purchases by consumers can be the result of several very different approaches, which include: (1) using a shopping "bot" to search for a product at locations with the best price; (2) participating in an online auction; (3) going directly to online malls; and (4)

Correct AnswerverifiedShow Answer

When developing retailing strategies, marketers use what is called the retailing mix, which includes

Correct AnswerverifiedShow Answer

List the four store locations or settings. How has the location of stores changed over the years?

Correct AnswerverifiedDepartment stores started downtown in mo...View AnswerShow Answer

Intangibles, such as a sense of belonging, excitement, style, or warmth, are considered to be __________ of a store's image.

Correct AnswerverifiedShow Answer

Another term for maintained markup is __________.

Correct AnswerverifiedShow Answer

-An IKEA mail order catalog (see photo above) is an example of __________ retailing.

Correct AnswerverifiedShow Answer

Three __________ are provided by retailers: self-, limited-, and full-service.

Correct AnswerverifiedShow Answer

-Redbox (see photo above) provides video rental without a single clerk. What level of service does this retailer offer?

Correct AnswerverifiedShow Answer

The oldest retail setting, located in the community's downtown area, is referred to as

Correct AnswerverifiedShow Answer

What is the impact of retailing for consumers and the economy?

Correct AnswerverifiedRetailing is an important marketing acti...View AnswerShow Answer

Correct AnswerverifiedShow Answer

There are three general forms of retail ownership: independent retailer, corporate chain, and __________.

Correct AnswerverifiedShow Answer

All of the following are reasons why direct mail and catalog retailing are attractive EXCEPT:

Correct AnswerverifiedShow Answer

Discounting a product when the product does not sell at the original price is referred to as a(n) __________.

Correct AnswerverifiedShow Answer

Selling agents refer to agents who

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
In a franchise system, an individual or ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Department stores started downtown in mo...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Retailing is an important marketing acti...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified