Question 1

Vending machines are an example of

Accepted Answer

A)   hypermarkets.
B)   direct mail.
C)   scrambled merchandising.
D)   intertype competition.
E)   nonstore retailing.F) B) and E)
G) B) and D)

Question 2

Franchising is a type of

Accepted Answer

A)   administered system.
B)   contractual system.
C)   vertically integrated chain.
D)   retail-sponsored cooperative.
E)   corporate system.F) B) and C)
G) A) and E)

Question 3

Selling agents are agents that

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 that call on them, pay cash for merchandise, and furnish their own transportation for the merchandise.
E)   sell primarily large bulky products.F) A) and B)
G) A) and C)

Question 4

Consumers benefit in dealing with retail corporate chains because

Accepted Answer

A)   corporate chains have more experience than other forms of retailers.
B)   consumers can own stock in the same company where they shop since corporate chain stock must be publicly traded.
C)   chains can bargain with a manufacturer to obtain product volume discounts on orders, which can be passed on to consumers in terms of lower prices.
D)   there are multiple outlets, each with its own varied merchandise and different management policies.
E)   merchandise is arranged and displayed by professional designers making their shopping experience less stressful.F) B) and C)
G) All of the above

Question 5

Retailing includes all activities involved in the

Accepted Answer

A)   selling, renting, and providing of products and services to ultimate consumers for personal, family, or household use.
B)   selling of tangible products to ultimate consumers for personal, family, or household use.
C)   selling of tangible products to ultimate consumers for personal, household, or industrial use.
D)   selling, renting, leasing, or reselling of products and services to ultimate consumers or small industrial users.
E)   selling, renting, and providing of products and services without retaining the title to these offerings.F) A) and B)
G) All of the above

Question 6

Combining the convenient location of a strip mall with the influential draw of national stores and a grocery store results in shopping areas known as ________ that brings shoppers on a weekly basis.

Accepted Answer

A)   suburban malls.
B)   warehouse malls.
C)   power centers.
D)   retail malls.
E)   cluster malls.F) C) and D)
G) A) and B)

Question 7

Mike's Camera is a retailer that carries a full line of professional and amateur cameras, develops and/or prints all types of film and digital photos, and even sells darkroom equipment. Mike's Camera is an example of

Accepted Answer

A)   a hypermarket.
B)   a general merchandise store.
C)   a scrambled merchandise store.
D)   an intertype outlet.
E)   a specialty outlet.F) A) and B)
G) None of the above

Question 8

Describe several of the technical solutions that power today's "smart mall."

Accepted Answer

Smart malls use a variety of technical s...

Question 9

Which form of retail outlet would most likely offer customers convenience, quality personal service, and lifestyle compatibility?

Accepted Answer

A)   corporate chain
B)   independent retailer
C)   administered system
D)   contractual system
E)   sole incorporationF) B) and D)
G) C) and D)

Question 10

Independently owned stores that band together to gain benefits of a chain are referred to as

Accepted Answer

A)   corporate chains.
B)   cooperative marketing systems.
C)   contractual systems.
D)   regional shopping centers.
E)   self-service systems.F) A) and B)
G) All of the above

Question 11

Walmart's $514 billion in sales in 2018 surpassed the gross domestic product of all but ________ countries for that same year.

Accepted Answer

A)   5
B)   12
C)   18
D)   24
E)   36F) B) and D)
G) A) and C)

Question 12

Intermediaries that work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory are referred to as

Accepted Answer

A)   selling agents.
B)   line brokers.
C)   distribution brokers.
D)   manufacturers' agents.
E)   brokers.F) A) and C)
G) C) and D)

Question 13

A large assortment of each item within a product line in a store is referred to as

Accepted Answer

A)   product span.
B)   breadth of product line.
C)   length of product line.
D)   width of product line.
E)   depth of product line.F) A) and E)
G) B) and E)

Question 14

A hypermarket is

Accepted Answer

A)   a category killer that specializes in electronics.
B)   a form of intertype competition consisting of general merchandise stores.
C)   a shopping mall anchored by four or more department stores such as Sears or Nordstrom.
D)   a form of limited-service outlets focusing on general merchandise like that offered in department stores.
E)   a form of scrambled merchandising, consisting of large stores offering everything in a single one-stop outlet.F) C) and E)
G) None of the above

Question 15

There are three general forms of retail ownership: contractual system, independent retailer, and

Accepted Answer

A)   dual ownership.
B)   industry consortium.
C)   retailing cooperative.
D)   multinational cartel.
E)   corporate chain.F) B) and E)
G) A) and D)

Question 16

Intermediaries that represent a single producer and are responsible for designing promotional plans, setting prices, determining distribution policies, and making recommendations on product strategy are referred to as

Accepted Answer

A)   brokers.
B)   line brokers.
C)   distribution brokers.
D)   selling agents.
E)   manufacturer's agents.F) A) and E)
G) A) and B)

Question 17

Which of these retailers is one of the largest hypermarkets in the world?

Accepted Answer

A)   Alibaba
B)   Kroger
C)   Carrefour
D)   Costco
E)   Home DepotF) A) and C)
G) C) and D)

Question 18

Off-price retailing refers to the

Accepted Answer

A)   differences between the final selling price and the retailer's cost.
B)   sale of brand-name merchandise at lower than regular prices.
C)   sale of merchandise at maintained markups.
D)   amount added by the manufacturer to achieve the desired suggested retail price.
E)   reduction in retail price usually expressed as the gross margin.F) C) and E)
G) B) and E)

Question 19

Direct selling is likely to continue to have strong growth in markets

Accepted Answer

A)   in which people prefer not to have a social shopping experience.
B)   where convenience is not especially important.
C)   in which consumers are knowledgeable shoppers.
D)   where there is a lack of effective distribution channels.
E)   that have an excellent infrastructure.F) B) and D)
G) None of the above

Question 20

A supercenter is

Accepted Answer

A)   an auto service center that sells and leases cars as well as repairs them.
B)   a type of specialty outlet with premium merchandise.
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.F) B) and C)
G) All of the above

Exam 16: Retailing and Wholesaling

There are three general forms of retail ownership: contractual system, independent retailer, and

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Which of these retailers is one of the largest hypermarkets in the world?

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Which form of retail outlet would most likely offer customers convenience, quality personal service, and lifestyle compatibility?

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Retailing includes all activities involved in the

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Describe several of the technical solutions that power today's "smart mall."

Correct AnswerverifiedSmart malls use a variety of technical s...View AnswerShow Answer

Franchising is a type of

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Consumers benefit in dealing with retail corporate chains because

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A hypermarket is

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Selling agents are agents that

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Mike's Camera is a retailer that carries a full line of professional and amateur cameras, develops and/or prints all types of film and digital photos, and even sells darkroom equipment. Mike's Camera is an example of

Correct AnswerverifiedShow Answer

A large assortment of each item within a product line in a store is referred to as

Correct AnswerverifiedShow Answer

Independently owned stores that band together to gain benefits of a chain are referred to as

Correct AnswerverifiedShow Answer

A supercenter is

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Walmart's $514 billion in sales in 2018 surpassed the gross domestic product of all but ________ countries for that same year.

Correct AnswerverifiedShow Answer

Combining the convenient location of a strip mall with the influential draw of national stores and a grocery store results in shopping areas known as ________ that brings shoppers on a weekly basis.

Correct AnswerverifiedShow Answer

Direct selling is likely to continue to have strong growth in markets

Correct AnswerverifiedShow Answer

Intermediaries that represent a single producer and are responsible for designing promotional plans, setting prices, determining distribution policies, and making recommendations on product strategy are referred to as

Correct AnswerverifiedShow Answer

Vending machines are an example of

Correct AnswerverifiedShow Answer

Off-price retailing refers to the

Correct AnswerverifiedShow Answer

Intermediaries that work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory are referred to as

Correct AnswerverifiedShow Answer

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Smart malls use a variety of technical s...
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