Question 1

The four stages of the retail life cycle are

Accepted Answer

A)  early growth, accelerated development, maturity, and decline.
B)  innovation, standardization, adaptation, and obsolescence.
C)  awareness, inquiry, alternative evaluation, and purchase.
D)  innovation, adaptation, imitation, and obsolescence.
E)  introduction, growth, maturity, and decline.F) B) and E)
G) B) and D)

Question 2

According to the stages of the retail life cycle, which stage would be used to classification the stage where market shares rise gradually, although profits may be low because of start-up costs?

Accepted Answer

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

Question 3

The advanced form of category management used by many retailers is referred to as _________.

Accepted Answer

A)  efficient consumer response
B)  automatic reordering
C)  retail inventory management
D)  consumer marketing at retail
E)  synergistic orderingF) C) and D)
G) A) and E)

Question 4

Breadth of product line refers to

Accepted Answer

A)  the quality of merchandise a store carries.
B)  the variety of different items a store carries.
C)  a wide assortment of a few related items.
D)  the physical size, from large to small, of products within a product line.
E)  the price lines of products within a company's product mix.F) B) and D)
G) B) and E)

Question 5

A limited-service wholesaler that furnishes shelves that display merchandise in stores, performs all channel functions, and sells on consignment to retailers is referred to as a _________.

Accepted Answer

A)  stack loader
B)  rack jobber
C)  drop shipper
D)  desk jobber
E)  truck jobberF) B) and E)
G) A) and D)

Question 6

Giant specialty stores are referred to in the trade as _________.

Accepted Answer

A)  hypermarkets
B)  category killers
C)  specialty outlets
D)  regional dominators
E)  general merchandise storeF) B) and C)
G) A) and D)

Question 7

The marketing managers at Omaha Steaks used airlines' databases to mail a special offer to frequent flyers.Eight weeks after shipping the steaks to the frequent flyers who placed orders as a result of the initial offer, the company's salespeople followed up by telephoning customers to ask for new orders.This is an example of which types of nonstore retailing?

Accepted Answer

A)  direct mail and telemarketing
B)  direct selling and telemarketing
C)  telemarketing and online retailing
D)  online retailing and automatic vending
E)  automatic vending and direct sellingF) None of the above
G) A) and B)

Question 8

Currently, the three largest television home shopping programs in the United States are

Accepted Answer

A)  QVC, HSN, and ShopNBC.
B)  Shop at Home, QVC, and HSN.
C)  Direct shopper, Shop at Home, and ShopNBC.
D)  Valuevision, Shop at Home, and QVC.
E)  Shop America, Direct shopper, and J.S.Global.F) C) and D)
G) A) and B)

Question 9

Retailing's economic value is represented by the people employed in retailing as well as by

Accepted Answer

A)  the total amount of money exchanged in retail sales.
B)  price asked for any one item for sale.
C)  the elimination of global boundaries.
D)  the cost of goods sold.
E)  the net return on capital.F) A) and C)
G) A) and E)

Question 10

Wholly owned extensions of the producer that perform wholesaling activities are referred to as

Accepted Answer

A)  general merchandise wholesalers.
B)  cash and carry wholesalers.
C)  agents and brokers.
D)  manufacturer's branches and sales offices.
E)  merchant wholesalers.F) D) and E)
G) C) and D)

Question 11

In the late 1950s, Pierre Martineau described a(n)  __________ as "the way in which the store is defined in the shopper's mind."

Accepted Answer

A)  size
B)  location
C)  image
D)  product mix
E)  anchor storeF) None of the above
G) A) and E)

Question 12

A type of retail outlet that focuses on one type of product at very competitive prices and often dominates the market is referred to as a _________.

Accepted Answer

A)  specialty outlet
B)  hypermarket
C)  category killer
D)  regional dominator
E)  general merchandise storeF) B) and C)
G) C) and D)

Question 13

FIGURE 14-5 
-Figure 14-5 above shows that there are four elements in the retailing mix ("A" through "D") , which include all of the following except

Accepted Answer

A)  merchandise
B)  retail pricing
C)  store location
D)  telecommunications
E)  retail communicationF) A) and E)
G) B) and D)

Question 14

There are two general types of franchises:

Accepted Answer

A)  product-format franchises and distribution franchise.
B)  business-format franchise and manufacturing franchise.
C)  business-format franchises and product-distribution franchises.
D)  business-format franchises and general service franchise.
E)  business-format franchises and venture franchise.F) C) and D)
G) None of the above

Question 15

Offering several unrelated product lines in a single store is referred to as _________.

Accepted Answer

A)  intertype competition
B)  dual channel marketing
C)  scrambled merchandising
D)  disintermediation
E)  dual distributionF) None of the above
G) All of the above

Question 16

One of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the Web site to compare shipping costs and prices on other sites.Of the shoppers who leave, __________ percent do not return.

Accepted Answer

A)  30%
B)  40%
C)  50%
D)  60%
E)  70%F) A) and B)
G) B) and E)

Question 17

New Balance offers shoes for men, women, and children to fit many sizes and foot widths.They offer runners, spikes, cross trainers, walking, court, causal, outdoor, cleated, and golf shoes.This an example of the __________ that a New Balance retailer carries.

Accepted Answer

A)  product mix
B)  depth of product line
C)  breadth of product line
D)  versatility of product line
E)  variety of product lineF) A) and D)
G) A) and E)

Question 18

Consumers often view central business district shopping as less convenient because of lack of parking, higher crime rates, and _________.

Accepted Answer

A)  exposure to the weather
B)  outdated stores
C)  a lack of ambiance
D)  fewer quality restaurants
E)  no public restroomsF) A) and C)
G) A) and B)

Question 19

Markdowns can be used to

Accepted Answer

A)  increase competition with other retailers in the immediate vicinity.
B)  placate dissatisfied customers.
C)  enhance customer perceptions of product quality.
D)  increase demand for complementary products.
E)  create a sense of urgency amongst repeat buyers.F) A) and D)
G) C) and D)

Question 20

The Sports Authority is a sporting goods superstore that provides year-round inventory of equipment for just about any sport you can name.Even during the "off season" of seasonal sports, equipment is available at the Sports Authority.Which utility does the Sports Authority best provide in this example?

Accepted Answer

A)  time
B)  form
C)  convenience
D)  possession
E)  performanceF) B) and E)
G) B) and D)

Exam 14: Retailing and Wholesaling

Correct Answer
verified

Offering several unrelated product lines in a single store is referred to as _________.

Correct Answer
verified

The four stages of the retail life cycle are

Correct Answer
verified

Consumers often view central business district shopping as less convenient because of lack of parking, higher crime rates, and _________.

Correct Answer
verified

One of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the Web site to compare shipping costs and prices on other sites.Of the shoppers who leave, __________ percent do not return.

Correct Answer
verified

Correct Answer
verified

A type of retail outlet that focuses on one type of product at very competitive prices and often dominates the market is referred to as a _________.

Correct Answer
verified

The advanced form of category management used by many retailers is referred to as _________.

Correct Answer
verified

Giant specialty stores are referred to in the trade as _________.

Correct Answer
verified

Markdowns can be used to

Correct Answer
verified

In the late 1950s, Pierre Martineau described a(n) __________ as "the way in which the store is defined in the shopper's mind."

Correct Answer
verified

New Balance offers shoes for men, women, and children to fit many sizes and foot widths.They offer runners, spikes, cross trainers, walking, court, causal, outdoor, cleated, and golf shoes.This an example of the __________ that a New Balance retailer carries.

Correct Answer
verified

Retailing's economic value is represented by the people employed in retailing as well as by

Correct Answer
verified

Wholly owned extensions of the producer that perform wholesaling activities are referred to as

Correct Answer
verified

A limited-service wholesaler that furnishes shelves that display merchandise in stores, performs all channel functions, and sells on consignment to retailers is referred to as a _________.

Correct Answer
verified

There are two general types of franchises:

Correct Answer
verified

FIGURE 14-5 -Figure 14-5 above shows that there are four elements in the retailing mix ("A" through "D") , which include all of the following except

Correct Answer
verified

Breadth of product line refers to

Correct Answer
verified

Currently, the three largest television home shopping programs in the United States are

Correct Answer
verified

According to the stages of the retail life cycle, which stage would be used to classification the stage where market shares rise gradually, although profits may be low because of start-up costs?

Correct Answer
verified

Exam 14: Retailing and Wholesaling

Correct AnswerverifiedShow Answer

Offering several unrelated product lines in a single store is referred to as _________.

Correct AnswerverifiedShow Answer

The four stages of the retail life cycle are

Correct AnswerverifiedShow Answer

Consumers often view central business district shopping as less convenient because of lack of parking, higher crime rates, and _________.

Correct AnswerverifiedShow Answer

One of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the Web site to compare shipping costs and prices on other sites.Of the shoppers who leave, __________ percent do not return.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A type of retail outlet that focuses on one type of product at very competitive prices and often dominates the market is referred to as a _________.

Correct AnswerverifiedShow Answer

The advanced form of category management used by many retailers is referred to as _________.

Correct AnswerverifiedShow Answer

Giant specialty stores are referred to in the trade as _________.

Correct AnswerverifiedShow Answer

Markdowns can be used to

Correct AnswerverifiedShow Answer

In the late 1950s, Pierre Martineau described a(n) __________ as "the way in which the store is defined in the shopper's mind."

Correct AnswerverifiedShow Answer

New Balance offers shoes for men, women, and children to fit many sizes and foot widths.They offer runners, spikes, cross trainers, walking, court, causal, outdoor, cleated, and golf shoes.This an example of the __________ that a New Balance retailer carries.

Correct AnswerverifiedShow Answer

Retailing's economic value is represented by the people employed in retailing as well as by

Correct AnswerverifiedShow Answer

Wholly owned extensions of the producer that perform wholesaling activities are referred to as

Correct AnswerverifiedShow Answer

A limited-service wholesaler that furnishes shelves that display merchandise in stores, performs all channel functions, and sells on consignment to retailers is referred to as a _________.

Correct AnswerverifiedShow Answer

There are two general types of franchises:

Correct AnswerverifiedShow Answer

FIGURE 14-5 -Figure 14-5 above shows that there are four elements in the retailing mix ("A" through "D") , which include all of the following except

Correct AnswerverifiedShow Answer

Breadth of product line refers to

Correct AnswerverifiedShow Answer

Currently, the three largest television home shopping programs in the United States are

Correct AnswerverifiedShow Answer

According to the stages of the retail life cycle, which stage would be used to classification the stage where market shares rise gradually, although profits may be low because of start-up costs?

Correct AnswerverifiedShow Answer

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