Question 1

6 million vending machines currently operating in the United States generate more than __________ in annual sales.

Accepted Answer

A)   $359 million
B)   $985 million
C)   $3.8 billion
D)   $19 billion
E)   $46 billionF) D) and E)
G) B) and C)

Question 2

retailing mix refers to the activities related to the management of and the merchandise in the store,which includes

Accepted Answer

A)   retail pricing, store location, retail communication, and merchandise.
B)   product, price, promotion, and place.
C)   the utilities of time, form, possession, and price.
D)   the colors, sizes, shapes, and point-of-purchase display locations of the store's products.
E)   selection of store location, selection of merchandise, hiring and training of employees, and promotion of both the store and products.F) None of the above
G) A) and D)

Question 3

Independent retailers account for most of the __________ retail establishments in the United States.

Accepted Answer

A)   50,000
B)   90,000
C)   500,000
D)   900,000
E)   1.1 millionF) A) and D)
G) C) and D)

Question 4

IKEA mail order catalog is an example of __________ retailing.

Accepted Answer

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

Question 5

Meijer is a chain of hypermarkets headquartered in Michigan,which means it

Accepted Answer

A)   engages in no intertype competition.
B)   is a disintermediator.
C)   uses scrambled merchandising.
D)   can also be referred to as a category killer.
E)   uses dual distribution.F) B) and D)
G) A) and E)

Question 6

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) B) and D)
G) C) and D)

Question 7

significant difference between the Mall of America and other regional shopping centers is that

Accepted Answer

A)   all MOA employees are required to be multilingual because of the store's international draw.
B)   MOA has twice as much space devoted to specialty stores than to anchor stores.
C)   retail store owners can live in attached condominiums, at reduced rates, so they don't have to worry about getting to work in bad weather.
D)   employees can take classes on the premises offered through a local community college.
E)   employees get a 50% discount at all the food establishments.F) A) and D)
G) A) and C)

Question 8

shippers

Accepted Answer

A)   own the merchandise they sell but do not physically handle, stock, or deliver it.
B)   perform all channel functions, and sell on consignment to retailers.
C)   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)   have a small warehouse from which they stock their trucks for distribution to retailers.
E)   work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.F) B) and C)
G) A) and E)

Question 9

Explain the global impact of retailing.

Accepted Answer

Retailing is important to the U.S.and gl...

Question 10

business in Kansas City,Missouri,looking to rent office space should use a __________ to help it locate the most suitable space at the best possible rate.

Accepted Answer

A)   selling agent
B)   broker
C)   manufacturer's representative
D)   manufacturer's agent
E)   administratorF) All of the above
G) B) and E)

Question 11

Which type of outlet is most likely in its maturity stage of the retail life cycle?

Accepted Answer

A)   single-price stores
B)   value-retail centers
C)   online retailers
D)   business-district retailers
E)   convenience storesF) A) and B)
G) A) and C)

Question 12

Costco requires customers to perform many shopping functions during the purchasing process and all nonessential customer services have been eliminated.What level of service does Costco offer?

Accepted Answer

A)   limited-service
B)   full-service
C)   customized-service
D)   self-service
E)   restricted-serviceF) B) and E)
G) A) and B)

Question 13

four major types of limited-service merchant wholesalers are rack jobbers,cash and carry wholesalers,truck jobbers,and __________.

Accepted Answer

A)   machine vendors
B)   credit line wholesalers
C)   transport vendors
D)   container transport vendors
E)   desk jobbersF) C) and E)
G) A) and E)

Question 14

General merchandise stores such as Walmart,Kmart,and Target are usually considered __________ outlets.

Accepted Answer

A)   exclusive-service
B)   minimal-service
C)   self-service
D)   full-service
E)   limited-serviceF) A) and D)
G) None of the above

Question 15

Timing is an important element of markdowns.Those retailers who take a markdown as soon as sales fall off are most likely doing so to __________.

Accepted Answer

A)   placate dissatisfied customers
B)   enhance customer perceptions of product quality
C)   create an image as a "cutting edge" retailer
D)   free up valuable selling space and cash
E)   react to the entry of a new competitorF) A) and E)
G) None of the above

Question 16

Specialty stores that dominate the market are referred to in the retail trade as _________.

Accepted Answer

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

Question 17

Explain the dimensions of the retail positioning matrix and give an example of a store that would be located in each quadrant of the matrix.

Accepted Answer

The retail positioning matrix is a matri...

Question 18

According to the Direct Marketing Association,annual telemarketing sales exceed __________.

Accepted Answer

A)   $10 billion
B)   $28 billion
C)   $137 billion
D)   $332 billion
E)   $500 billionF) C) and D)
G) A) and B)

Question 19

Figure 16-10
-According to Figure 16-10 above,market share reaches its highest level during which stage of the retail life cycle?

Accepted Answer

A)   none
B)   "A"
C)   "B"
D)   "C"
E)   "D"F) A) and B)
G) A) and C)

Question 20

"Hypermarket" refers to

Accepted Answer

A)   category killers that specialize in electronics.
B)   a form of intertype competition general merchandise store.
C)   shopping malls anchored by four or more department stores such as Sears or Nordstrom's.
D)   a form of limited-service outlets focusing on general merchandise like that offered in department stores.
E)   a form of scrambled merchandising, which consists of large stores (more than 200,000 square feet)  that offer everything in a single outlet, eliminating the need for consumers to shop at more than one location.F) A) and D)
G) A) and E)

Exam 16: Retailing and Wholesaling

Meijer is a chain of hypermarkets headquartered in Michigan,which means it

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shippers

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Explain the dimensions of the retail positioning matrix and give an example of a store that would be located in each quadrant of the matrix.

Correct AnswerverifiedThe retail positioning matrix is a matri...View AnswerShow Answer

General merchandise stores such as Walmart,Kmart,and Target are usually considered __________ outlets.

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Costco requires customers to perform many shopping functions during the purchasing process and all nonessential customer services have been eliminated.What level of service does Costco offer?

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Specialty stores that dominate the market are referred to in the retail trade as _________.

Correct AnswerverifiedShow Answer

IKEA mail order catalog is an example of __________ retailing.

Correct AnswerverifiedShow Answer

Timing is an important element of markdowns.Those retailers who take a markdown as soon as sales fall off are most likely doing so to __________.

Correct AnswerverifiedShow Answer

Explain the global impact of retailing.

Correct AnswerverifiedRetailing is important to the U.S.and gl...View AnswerShow Answer

Independent retailers account for most of the __________ retail establishments in the United States.

Correct AnswerverifiedShow Answer

four major types of limited-service merchant wholesalers are rack jobbers,cash and carry wholesalers,truck jobbers,and __________.

Correct AnswerverifiedShow Answer

Which type of outlet is most likely in its maturity stage of the retail life cycle?

Correct AnswerverifiedShow Answer

"Hypermarket" refers to

Correct AnswerverifiedShow Answer

retailing mix refers to the activities related to the management of and the merchandise in the store,which includes

Correct AnswerverifiedShow Answer

According to the Direct Marketing Association,annual telemarketing sales exceed __________.

Correct AnswerverifiedShow Answer

business in Kansas City,Missouri,looking to rent office space should use a __________ to help it locate the most suitable space at the best possible rate.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

significant difference between the Mall of America and other regional shopping centers is that

Correct AnswerverifiedShow Answer

6 million vending machines currently operating in the United States generate more than __________ in annual sales.

Correct AnswerverifiedShow Answer

Figure 16-10 -According to Figure 16-10 above,market share reaches its highest level during which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

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The retail positioning matrix is a matri...
View Answer

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Retailing is important to the U.S.and gl...
View Answer

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