Question 1

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 B)
G) A) and C)

Question 2

Stores like Dillard's,Macy's,and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type.These retailers are known as __________.

Accepted Answer

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

Question 3

Manufacturer's agents refer to agents who

Accepted Answer

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

Question 4

Name each of the four utilities offered by retailing and with each,identify a retailer that provides that utility.

Accepted Answer

The four utilities retailing offers are:...

Question 5

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) C) and D)
G) D) and E)

Question 6

Not every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores usually __________.

Accepted Answer

A)  is unplanned
B)  includes national anchor stores
C)  is restricted to privately-owned specialty stores
D)  is mainly fast food restaurants
E)  includes amusement or theme parksF) B) and C)
G) A) and E)

Question 7

Describe the retail life cycle.

Accepted Answer

The retail life cycle describes the proc...

Question 8

Explain the global impact of retailing.

Accepted Answer

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

Question 9

Walmart's $447 billion in sales in 2011 surpassed the gross domestic product of all but __________ countries for that same year.

Accepted Answer

A)  5
B)  12
C)  18
D)  26
E)  55F) C) and E)
G) A) and D)

Question 10

The average U.S.household now receives __________ direct-mail items or catalogs each week.

Accepted Answer

A)  18
B)  24
C)  32
D)  39
E)  47F) B) and C)
G) A) and B)

Question 11

The marketing metrics related to a retailer's finances include all of the following EXCEPT:

Accepted Answer

A)  the markdown percentage.
B)  the average length of a store visit.
C)  the return on sales.
D)  the gross margin.
E)  the sales per employee.F) A) and E)
G) A) and B)

Question 12

A variation of off-price retailing includes __________.

Accepted Answer

A)  discount wholesalers
B)  outlet stores
C)  discount retailers
D)  supermarkets
E)  hypermarketsF) A) and B)
G) None of the above

Question 13

Off-price retailers,warehouse clubs,and grocery stores that require customers to bag their groceries provide what level of retail service?

Accepted Answer

A)  full-service
B)  limited-service
C)  customized-service
D)  self-service
E)  automated-serviceF) B) and D)
G) All of the above

Question 14

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

Accepted Answer

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

Question 15

Retailing that occurs outside a retail outlet,such as through direct marketing,direct selling,and automatic vending,is referred to as __________.

Accepted Answer

A)  limited-line retailing
B)  nonstore retailing
C)  scrambled merchandising
D)  a hypermarket
E)  intertype competitionF) A) and C)
G) A) and B)

Question 16

A __________ would be most likely to use truck jobbers to distribute its products.

Accepted Answer

A)  a clothing manufacturer
B)  manufacturer of electric generators
C)  a leather goods importer
D)  pharmaceutical company
E)  meat processing plantF) B) and E)
G) A) and D)

Question 17

The central business district refers to

Accepted Answer

A)  a suburban mall that contains up to 100 stores and draws customer from 5 to 10 miles away.
B)  the oldest retailing setting,located in a community's downtown area.
C)  a retail location that typically has one primary store and about 20 to 40 smaller outlets,and serves a population base of about 100,000.
D)  a cluster of stores that serves people who are within a five- to ten-minute drive and serves a population base of under 30,000.
E)  a collection of large stores over 100,000 square feet that offers a mix of about 40 percent food products and 60 percent general merchandise items.F) C) and E)
G) B) and D)

Question 18

Most stores today are near several others in one of four settings: the central business district,the strip mall,the power center,or the __________.

Accepted Answer

A)  exurb value center
B)  urban megacenter
C)  suburban downtown
D)  regional shopping center
E)  rural micromallF) B) and E)
G) B) and C)

Question 19

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

Accepted Answer

A)  return in investment
B)  percentage of markup
C)  gross profit
D)  sales per square foot
E)  same-store sales growthF) B) and E)
G) A) and B)

Question 20

The West Edmonton Mall in Alberta,Canada is a conglomerate of more than 800 stores,the world's largest indoor amusement park,more than 100 restaurants,a movie complex,and two hotels.This retail complex is the largest example of a(n) __________.

Accepted Answer

A)  regional shopping center
B)  urban microcenter
C)  megaplex
D)  hypermarket
E)  supercenterF) D) and E)
G) A) and E)

Exam 13: Retailing and Wholesaling

Retailing that occurs outside a retail outlet,such as through direct marketing,direct selling,and automatic vending,is referred to as __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The West Edmonton Mall in Alberta,Canada is a conglomerate of more than 800 stores,the world's largest indoor amusement park,more than 100 restaurants,a movie complex,and two hotels.This retail complex is the largest example of a(n) __________.

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

Most stores today are near several others in one of four settings: the central business district,the strip mall,the power center,or the __________.

Correct AnswerverifiedShow Answer

Walmart's $447 billion in sales in 2011 surpassed the gross domestic product of all but __________ countries for that same year.

Correct AnswerverifiedShow Answer

The marketing metrics related to a retailer's finances include all of the following EXCEPT:

Correct AnswerverifiedShow Answer

Describe the retail life cycle.

Correct AnswerverifiedThe retail life cycle describes the proc...View AnswerShow Answer

The central business district refers to

Correct AnswerverifiedShow Answer

Not every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores usually __________.

Correct AnswerverifiedShow Answer

Off-price retailers,warehouse clubs,and grocery stores that require customers to bag their groceries provide what level of retail service?

Correct AnswerverifiedShow Answer

Manufacturer's agents refer to agents who

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A __________ would be most likely to use truck jobbers to distribute its products.

Correct AnswerverifiedShow Answer

Explain the global impact of retailing.

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

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

Correct AnswerverifiedShow Answer

The average U.S.household now receives __________ direct-mail items or catalogs each week.

Correct AnswerverifiedShow Answer

A variation of off-price retailing includes __________.

Correct AnswerverifiedShow Answer

Stores like Dillard's,Macy's,and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type.These retailers are known as __________.

Correct AnswerverifiedShow Answer

Name each of the four utilities offered by retailing and with each,identify a retailer that provides that utility.

Correct AnswerverifiedThe four utilities retailing offers are:...View AnswerShow Answer

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The retail life cycle describes the proc...
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Retailing is important to the U.S.and gl...
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The four utilities retailing offers are:...
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