Question 1

Apple has approximately what amount of sales per square foot according to the Marketing Dashboard shown in Figure 14-8 above?

Accepted Answer

A)  $500
B)  $1,000
C)  $2,000
D)  $2,500
E)  $4,000F) C) and D)
G) D) and E)

Question 2

"Cyber Monday" takes place on

Accepted Answer

A)  the Monday immediately before Thanksgiving when on-line stores get the jump on traditional retail stores' Black Friday.
B)  the first Monday of each month when online retailers drop prices from the previous week.
C)  the first Monday after Thanksgiving when consumers shop from their broadband connections at work on their first day back after the holiday.
D)  New Years Day when traditional stores are all closed and online stores sell more than retail stores.
E)  Labor Day in order to capitalize on shoppers who are on holiday and can take advantage of great sales without worrying about crowds or traffic.F) A) and B)
G) All of the above

Question 3

Limited-and single-line stores are often referred to as _________.

Accepted Answer

A)  specialty outlets
B)  intertype outlets
C)  hypermarkets
D)  general merchandise stores
E)  scrambled merchandise storesF) A) and D)
G) C) and D)

Question 4

Loehmann distinguishes themselves as preeminent, upscale, off-price specialty retailers for name band designer fashions.They offer in-season merchandise and frequent new arrivals at prices 30% to 65% less than department store prices.Loehamann retailers provide consumers with

Accepted Answer

A)  full-service
B)  limited service
C)  self-serve
D)  restricted serve
E)  functional serveF) C) and D)
G) C) and E)

Question 5

What is off-price retailing? Identify and give an example of the three types of off-price retailing.

Accepted Answer

Off-price retailing is a retail pricing ...

Question 6

Manufacturer's agents refer to

Accepted Answer

A)  agents who represent a single producer and carry all products in the producer's lines.
B)  agents who works for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.
C)  agents 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.
D)  agents who own the merchandise they sell but do not physically handle, stock, or deliver it.
E)  agents who furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.F) A) and D)
G) A) and C)

Question 7

Neiman Marcus has approximately what amount of sales per square foot according to the Marketing Dashboard shown in Figure 14-8 above?

Accepted Answer

A)  $500
B)  $1,000
C)  $2,000
D)  $2,500
E)  $4,000F) C) and D)
G) A) and B)

Question 8

When Home Depot switched its in-store light fixture displays to compact fluorescent light bulbs it saved __________ per year.

Accepted Answer

A)  $16 million
B)  $24 million
C)  $29 million
D)  $31 million
E)  $42 millionF) All of the above
G) C) and D)

Question 9

The difference between the final selling price and the retailer's cost is referred to as _________.

Accepted Answer

A)  original markup
B)  maintained markup
C)  markdown
D)  off-price
E)  discount priceF) B) and C)
G) A) and B)

Question 10

A manufacturer's sales office

Accepted Answer

A)  works for several producers and carries noncompetitive, complementary merchandise in an exclusive territory.
B)  takes title to merchandise but sells only to buyers who call on them, pays cash for merchandise, and furnishes their own transportation for the merchandise.
C)  carries a producer's inventory, performs the functions of a full-service wholesaler and is an alternative to a merchant wholesaler.
D)  does not carry inventory, typically performs a sales function, and is an alternative to agents and brokers.
E)  brings buyers and sellers together to make sales.F) B) and D)
G) A) and E)

Question 11

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

Accepted Answer

Retailing is an important marketing acti...

Question 12

Retailing's economic value is represented by __________ as well as by the total amount of money exchanged in retail sales.

Accepted Answer

A)  the price asked for any one item for sale
B)  the elimination of global boundaries
C)  the people employed in retailing
D)  the net return on capital
E)  the cost of goods soldF) B) and E)
G) A) and B)

Question 13

The growing interest in do-not mail legislation, the concern for "green" mailings and catalogs, and the possibility of the U.S.Postal Service reducing delivery to five days have caused direct-mail and catalog retailers to

Accepted Answer

A)  switch to online catalogs and direct customer e-mail advertisements.
B)  search for ways to improve efficiency and provide additional customer value.
C)  use thinner lightweight paper products.
D)  ban the use of non-personal mail to communities who are environmentally conscious.
E)  make more use of non-automated telemarketing.F) B) and C)
G) A) and E)

Question 14

One reason for the growth of Cyber Monday and online shopping in general is

Accepted Answer

A)  Internet shopping is safer since no one can access your personal information.
B)  people feel they won't be tempted to overspend online the way they do in traditional stores.
C)  many retailers now move their Friday in-store sales and promotions to their Web sites on Monday.
D)  people know that if they purchase online they will automatically get tons of offers from similar online merchants.
E)  online prices are traditionally lower since it is so easy to "shop the competition."F) C) and D)
G) A) and B)

Question 15

A form of ownership that involves multiple outlets under common ownership is referred to as a(n)

Accepted Answer

A)  corporate chain.
B)  contractual system.
C)  independent retailer.
D)  administered system.
E)  consumer cooperative.F) All of the above
G) D) and E)

Question 16

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

Accepted Answer

A)  rack jobbers
B)  truck jobbers
C)  drop shippers
D)  cash and carry wholesalers
E)  general merchandise wholesalersF) D) and E)
G) None of the above

Question 17

An indicator used to compare the increase in sales of stores that have been open for the same period of time is by calculating the

Accepted Answer

A)  market share of each store.
B)  sales per square foot of each store.
C)  same store sales growth.
D)  gross sales per store.
E)  net profit per store.F) A) and B)
G) C) and E)

Question 18

Another term for gross margin is

Accepted Answer

A)  markup.
B)  original markup.
C)  sustained markup.
D)  maintained markup.
E)  discount price.F) B) and D)
G) All of the above

Question 19

Most of the 1.1 million retail establishments in the United States including hardware stores, convenience stores, clothing stores, and computer and software stores are owned by __________.

Accepted Answer

A)  corporate chains
B)  contractual systems
C)  independent retailers
D)  conglomerate
E)  multinationalsF) B) and D)
G) C) and D)

Question 20

There are three general forms of retail ownership: individual, corporate chain, and _________.

Accepted Answer

A)  dual ownership
B)  contractual system
C)  industry consortiums
D)  multi-national cartel
E)  non-binding cooperativeF) A) and B)
G) A) and C)

Exam 14: Retailing and Wholesaling

Limited-and single-line stores are often referred to as _________.

Correct AnswerverifiedShow Answer

What is off-price retailing? Identify and give an example of the three types of off-price retailing.

Correct AnswerverifiedOff-price retailing is a retail pricing ...View AnswerShow Answer

Another term for gross margin is

Correct AnswerverifiedShow Answer

When Home Depot switched its in-store light fixture displays to compact fluorescent light bulbs it saved __________ per year.

Correct AnswerverifiedShow Answer

A manufacturer's sales office

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A form of ownership that involves multiple outlets under common ownership is referred to as a(n)

Correct AnswerverifiedShow Answer

An indicator used to compare the increase in sales of stores that have been open for the same period of time is by calculating the

Correct AnswerverifiedShow Answer

There are three general forms of retail ownership: individual, corporate chain, and _________.

Correct AnswerverifiedShow Answer

Most of the 1.1 million retail establishments in the United States including hardware stores, convenience stores, clothing stores, and computer and software stores are owned by __________.

Correct AnswerverifiedShow Answer

Retailing's economic value is represented by __________ as well as by the total amount of money exchanged in retail sales.

Correct AnswerverifiedShow Answer

Apple has approximately what amount of sales per square foot according to the Marketing Dashboard shown in Figure 14-8 above?

Correct AnswerverifiedShow Answer

The growing interest in do-not mail legislation, the concern for "green" mailings and catalogs, and the possibility of the U.S.Postal Service reducing delivery to five days have caused direct-mail and catalog retailers to

Correct AnswerverifiedShow Answer

"Cyber Monday" takes place on

Correct AnswerverifiedShow Answer

One reason for the growth of Cyber Monday and online shopping in general is

Correct AnswerverifiedShow Answer

The difference between the final selling price and the retailer's cost is referred to as _________.

Correct AnswerverifiedShow Answer

Neiman Marcus has approximately what amount of sales per square foot according to the Marketing Dashboard shown in Figure 14-8 above?

Correct AnswerverifiedShow Answer

Loehmann distinguishes themselves as preeminent, upscale, off-price specialty retailers for name band designer fashions.They offer in-season merchandise and frequent new arrivals at prices 30% to 65% less than department store prices.Loehamann retailers provide consumers with

Correct AnswerverifiedShow Answer

Manufacturer's agents refer to

Correct AnswerverifiedShow Answer

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

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

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Off-price retailing is a retail pricing ...
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Retailing is an important marketing acti...
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