Question 1

Jim Smith is an avid fly fisherman and he 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 near him 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) A) and B)
G) B) and D)

Question 2

Many supermarkets have in-store restaurants where a customer can buy prepared meals to take home or eat there.Supermarkets and restaurants that provide these same kinds of meals are engaged in ________ competition.

Accepted Answer

A)  intertype
B)  institutional
C)  intermodal
D)  functional
E)  selectiveF) C) and D)
G) None of the above

Question 3

Bakery items,dairy products,and meat that are sold for cash in their original packages are traditionally sold by which type of wholesaler?

Accepted Answer

A)  rack jobbers
B)  drop shippers
C)  cash and carry wholesalers
D)  truck jobbers
E)  general merchandise wholesalersF) C) and D)
G) A) and C)

Question 4

Sales per square foot is calculated by dividing

Accepted Answer

A)  profit margin by selling area in square feet.
B)  gross profit by selling area in square feet.
C)  total sales by selling area in square feet.
D)  return on investment by selling area in square feet.
E)  net sales by selling area in square feet.F) B) and D)
G) A) and D)

Question 5

A cluster of neighborhood stores,whose composition is typically unplanned and serves people who are within a 5- to 10-minute drive is referred to as a

Accepted Answer

A)  suburban shopping mall.
B)  strip mall.
C)  mini-mart.
D)  hypermarket.
E)  central business district.F) A) and C)
G) A) and B)

Question 6

One of the biggest problems online retailers face is that nearly ________ percent of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.

Accepted Answer

A)  16
B)  26
C)  36
D)  56
E)  66F) C) and D)
G) A) and B)

Question 7

Your local Hallmark retailer carries thousands of greeting cards.You can find cards for a twin birthday,graduation,from my cat to yours,and many other unique occasions.This is an example of the ________ that the Hallmark retailer carries.

Accepted Answer

A)  depth of product line
B)  breadth of product line
C)  height of product line
D)  length of product line
E)  width of product lineF) A) and B)
G) A) and C)

Question 8

Wholesalers that simply solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer are referred to as

Accepted Answer

A)  cash and carry wholesalers.
B)  rack jobbers.
C)  drop shippers.
D)  truck jobbers.
E)  manufacturer's representatives.F) C) and E)
G) None of the above

Question 9

In the late 1950s,Pierre Martineau described ________ as "the way in which the store is defined in the shopper's mind."

Accepted Answer

A)  size
B)  location
C)  product mix
D)  image
E)  anchor storeF) All of the above
G) B) and C)

Question 10

A financial indicator used to compare the change in sales of stores that have been open for the same period of time is referred to as

Accepted Answer

A)  return on investment.
B)  percentage of markup.
C)  gross profit.
D)  sales per square foot.
E)  same-store sales growth.F) B) and D)
G) D) and E)

Question 11

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

Question 12

________ can benefit retailers by helping them to predict shopping behavior,provide personalized,real-time messaging and promotions,and track customer needs.

Accepted Answer

A)  Data analytics
B)  Brokers
C)  Telemarketing
D)  Multichannel retailing
E)  Shopper marketingF) A) and D)
G) C) and E)

Question 13

General merchandise wholesalers

Accepted Answer

A)  carry a broad assortment of merchandise and perform all channel functions.
B)  own the merchandise they sell but do not physically handle,stock,or deliver it.
C)  have a small warehouse from which they stock their trucks for distribution to retailers.
D)  work for several producers,carry noncompetitive,complementary merchandise in an exclusive territory,and use over-the-road transportation for all product deliveries.
E)  deal exclusively with small low-cost consumer products that are distributed to a select number of large retail chains.F) A) and E)
G) A) and D)

Question 14

An off-price retailer that requires customers to purchase an annual membership card for the privilege of shopping at the store is referred to as a(n)

Accepted Answer

A)   outlet store.
B)   single-price retailer.
C)   hypermarket.
D)   warehouse club.
E)   supercenter.F) B) and C)
G) A) and E)

Question 15

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) B) and D)
G) A) and D)

Question 16

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-the Clayton Act as amended by the Sherman Act.
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) D) and E)
G) C) and D)

Question 17

Which of the following stores are most likely to be anchor stores at a regional shopping center?

Accepted Answer

A)  Old Navy,Abercrombie & Fitch,and Sephora
B)  Hickory Farms,a locally owned jewelry store,and McDonald's
C)  an antique store,Dollar General,and a bakery
D)  Dick's Sporting Goods,Macy's,and JCPenney
E)  a Hallmark shop,a sporting goods consignment store,and a Barnes & Noble bookstoreF) B) and E)
G) A) and C)

Question 18

A group of 50 to 150 stores that typically attract customers who live or work within a 5- to 10-mile range,often containing two or three anchor stores,is referred to as a(n)

Accepted Answer

A)   power center.
B)   regional shopping center.
C)   strip mall.
D)   central business district.
E)   urban megacenter.F) None of the above
G) A) and B)

Question 19

The greatest dollar amount of retail sales in the United States is generated by

Accepted Answer

A)  food and beverage stores.
B)  sporting goods,hobby,book,and music stores.
C)  electronic stores.
D)  motor vehicle and parts dealers.
E)  furniture and home furnishing stores.F) A) and E)
G) A) and B)

Question 20

Which type of utility is created by online shopping?

Accepted Answer

A)  time
B)  price
C)  product
D)  process
E)  promotionF) A) and E)
G) None of the above

Exam 16: Retailing and Wholesaling

In the late 1950s,Pierre Martineau described ________ as "the way in which the store is defined in the shopper's mind."

Correct Answer
verified

Wholesalers that simply solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer are referred to as

Correct Answer
verified

An off-price retailer that requires customers to purchase an annual membership card for the privilege of shopping at the store is referred to as a(n)

Correct Answer
verified

General merchandise wholesalers

Correct Answer
verified

Correct Answer
verified

________ can benefit retailers by helping them to predict shopping behavior,provide personalized,real-time messaging and promotions,and track customer needs.

Correct Answer
verified

A group of 50 to 150 stores that typically attract customers who live or work within a 5- to 10-mile range,often containing two or three anchor stores,is referred to as a(n)

Correct Answer
verified

The greatest dollar amount of retail sales in the United States is generated by

Correct Answer
verified

Bakery items,dairy products,and meat that are sold for cash in their original packages are traditionally sold by which type of wholesaler?

Correct Answer
verified

Many supermarkets have in-store restaurants where a customer can buy prepared meals to take home or eat there.Supermarkets and restaurants that provide these same kinds of meals are engaged in ________ competition.

Correct Answer
verified

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

Correct Answer
verified

One of the biggest problems online retailers face is that nearly ________ percent of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.

Correct Answer
verified

Your local Hallmark retailer carries thousands of greeting cards.You can find cards for a twin birthday,graduation,from my cat to yours,and many other unique occasions.This is an example of the ________ that the Hallmark retailer carries.

Correct Answer
verified

Sales per square foot is calculated by dividing

Correct Answer
verified

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

Which type of utility is created by online shopping?

Correct Answer
verified

A financial indicator used to compare the change in sales of stores that have been open for the same period of time is referred to as

Correct Answer
verified

A cluster of neighborhood stores,whose composition is typically unplanned and serves people who are within a 5- to 10-minute drive is referred to as a

Correct Answer
verified

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 Answer
verified

Which of the following stores are most likely to be anchor stores at a regional shopping center?

Correct Answer
verified

Exam 16: Retailing and Wholesaling

In the late 1950s,Pierre Martineau described ________ as "the way in which the store is defined in the shopper's mind."

Correct AnswerverifiedShow Answer

Wholesalers that simply solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer are referred to as

Correct AnswerverifiedShow Answer

An off-price retailer that requires customers to purchase an annual membership card for the privilege of shopping at the store is referred to as a(n)

Correct AnswerverifiedShow Answer

General merchandise wholesalers

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

________ can benefit retailers by helping them to predict shopping behavior,provide personalized,real-time messaging and promotions,and track customer needs.

Correct AnswerverifiedShow Answer

A group of 50 to 150 stores that typically attract customers who live or work within a 5- to 10-mile range,often containing two or three anchor stores,is referred to as a(n)

Correct AnswerverifiedShow Answer

The greatest dollar amount of retail sales in the United States is generated by

Correct AnswerverifiedShow Answer

Bakery items,dairy products,and meat that are sold for cash in their original packages are traditionally sold by which type of wholesaler?

Correct AnswerverifiedShow Answer

Many supermarkets have in-store restaurants where a customer can buy prepared meals to take home or eat there.Supermarkets and restaurants that provide these same kinds of meals are engaged in ________ competition.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

One of the biggest problems online retailers face is that nearly ________ percent of online shoppers make it to "checkout" and then leave the website to compare shipping costs and prices on other sites.

Correct AnswerverifiedShow Answer

Your local Hallmark retailer carries thousands of greeting cards.You can find cards for a twin birthday,graduation,from my cat to yours,and many other unique occasions.This is an example of the ________ that the Hallmark retailer carries.

Correct AnswerverifiedShow Answer

Sales per square foot is calculated by dividing

Correct AnswerverifiedShow 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

Which type of utility is created by online shopping?

Correct AnswerverifiedShow Answer

A financial indicator used to compare the change in sales of stores that have been open for the same period of time is referred to as

Correct AnswerverifiedShow Answer

A cluster of neighborhood stores,whose composition is typically unplanned and serves people who are within a 5- to 10-minute drive is referred to as a

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

Which of the following stores are most likely to be anchor stores at a regional shopping center?

Correct AnswerverifiedShow Answer

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