Question 1

calculation for same-store sales growth is

Accepted Answer

A)   total sales ÷ selling area in square feet.
B)   (store sales in year 3 ÷ store sales in year 1) .
C)   [store sales in year 1 ÷ (store sales in year 2 - store sales in year 1) ].
D)   [(store sales in year 2 - store sales in year 1)  ÷ store sales in year 1].
E)   store 1 square feet ÷ store 2 square feet.F) B) and D)
G) A) and E)

Question 2

Target recently introduced its Target REDcard,where cardholders receive 5% back for each purchase.Target also allows customers to return merchandise within 30 days but still does not offer alteration services.Target offers what level of service to its customers?

Accepted Answer

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

Question 3

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

Accepted Answer

A)   machine vendors
B)   credit line wholesalers
C)   transport vendors
D)   truck jobbers
E)   container transport vendorsF) A) and C)
G) C) and D)

Question 4

which level of service would the customer perform the least number of functions?

Accepted Answer

A)   automated-service
B)   minimal-service
C)   self-service
D)   limited-service
E)   full-serviceF) A) and B)
G) A) and C)

Question 5

four utilities offered to consumers through retailing are

Accepted Answer

A)   convenience, performance, possession, and form.
B)   time, place, possession, and form.
C)   product, price, place, and promotion.
D)   people, productivity, process, and physical environment.
E)   convenience, consistency, competition, and choice.F) C) and E)
G) B) and D)

Question 6

Outside the United States,large retailers include __________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Accepted Answer

A)   Aeon
B)   Toshei
C)   Seebi
D)   Goshen
E)   ToshiF) A) and D)
G) None of the above

Question 7

Nordstrom stores typically have 50 percent more salespeople on the floor than similarly sized stores,and the salespeople are renowned for their professional and personalized attention to customers.Nordstrom would be considered a(n) __________.

Accepted Answer

A)   exclusive-service retailer
B)   limited-service retailer
C)   full-service retailer
D)   upscale-retailer
E)   limited-domain retailerF) B) and D)
G) C) and D)

Question 8

Mike's Camera is a retailer that carries a full line of professional and amateur camera equipment,develops all types of film and digital photos,and sells darkroom equipment.Mike's Camera is an example of a(n) __________.

Accepted Answer

A)   hypermarket
B)   general merchandise store
C)   scrambled merchandise store
D)   intertype outlet
E)   specialty outletF) B) and E)
G) A) and E)

Question 9

Which of the following firms has made the wisest wholesaler choice for its product?

Accepted Answer

A)   Sam's Coal Country uses a cash and carry wholesaler for its coal.
B)   Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs.
C)   Raisha's Retros uses a rack jobber for its replica racecar radios.
D)   Shayna's Superior Supplies uses a desk jobber for its staplers.
E)   Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights.F) B) and E)
G) C) and D)

Question 10

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

Accepted Answer

A)   the number of customers per day or per hour.
B)   the average length of a store visit.
C)   the turnover of inventory.
D)   the average transaction size per customer.
E)   the number of transactions per customer.F) None of the above
G) C) and D)

Question 11

retailers take a markdown as soon as sales fall to free valuable selling space and cash.This concept of retail pricing based on _________.

Accepted Answer

A)   timing
B)   demand
C)   availability
D)   bargain hunting
E)   customer valueF) A) and B)
G) A) and C)

Question 12

retailing mix includes all of the following EXCEPT:

Accepted Answer

A)   merchandise.
B)   target market.
C)   retail pricing.
D)   store location.
E)   retail communication.F) A) and B)
G) All of the above

Question 13

use of displays,coupons,product samples,and other brand communications to influence shopping behavior in a store is referred to as

Accepted Answer

A)   functional qualities
B)   level of service
C)   shopper marketing
D)   lifestyle attributes
E)   psychographic elementsF) All of the above
G) A) and E)

Question 14

Identify and describe the functions of agents and brokers.

Accepted Answer

Agents and brokers do not take title to ...

Question 15

Stores like Dillard's,Macy's,and Neiman Marcus carry a wide range of different types of products but not unusual sizes.They are known as __________.

Accepted Answer

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

Question 16

Staples is a specialty discount retailer that focuses on one type of product-office supplies.Staples is referred to as a

Accepted Answer

A)   hypermarket
B)   national dominator
C)   category killer
D)   regional dominator
E)   general merchandise storeF) A) and B)
G) All of the above

Question 17

Coal,lumber,and chemicals,which are sold in extremely large quantities are traditionally sold by which type of wholesaler?

Accepted Answer

A)   cash and carry wholesalers
B)   rack jobbers
C)   truck jobbers
D)   general merchandise wholesalers
E)   drop shippersF) All of the above
G) C) and D)

Question 18

value added dimension of the retail positioning matrix includes elements such as product reliability,prestige,and __________.

Accepted Answer

A)   level of service
B)   market share
C)   location
D)   price
E)   number of employeesF) C) and E)
G) B) and E)

Question 19

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 an example of a(n) __________.

Accepted Answer

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

Question 20

Figure 16-10
-According to Figure 16-10 above,"C" represents which stage of the retail life cycle?

Accepted Answer

A)   introduction
B)   early growth
C)   accelerated development
D)   maturity
E)   declineF) B) and E)
G) A) and E)

Exam 16: Retailing and Wholesaling

Nordstrom stores typically have 50 percent more salespeople on the floor than similarly sized stores,and the salespeople are renowned for their professional and personalized attention to customers.Nordstrom would be considered a(n) __________.

Correct AnswerverifiedShow Answer

Coal,lumber,and chemicals,which are sold in extremely large quantities are traditionally sold by which type of wholesaler?

Correct AnswerverifiedShow Answer

Target recently introduced its Target REDcard,where cardholders receive 5% back for each purchase.Target also allows customers to return merchandise within 30 days but still does not offer alteration services.Target offers what level of service to its customers?

Correct AnswerverifiedShow Answer

Staples is a specialty discount retailer that focuses on one type of product-office supplies.Staples is referred to as a

Correct AnswerverifiedShow Answer

calculation for same-store sales growth is

Correct AnswerverifiedShow Answer

Figure 16-10 -According to Figure 16-10 above,"C" represents which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Outside the United States,large retailers include __________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Correct AnswerverifiedShow Answer

which level of service would the customer perform the least number of functions?

Correct AnswerverifiedShow Answer

value added dimension of the retail positioning matrix includes elements such as product reliability,prestige,and __________.

Correct AnswerverifiedShow Answer

four utilities offered to consumers through retailing are

Correct AnswerverifiedShow Answer

Which of the following firms has made the wisest wholesaler choice for its product?

Correct AnswerverifiedShow Answer

retailers take a markdown as soon as sales fall to free valuable selling space and cash.This concept of retail pricing based on _________.

Correct AnswerverifiedShow Answer

Identify and describe the functions of agents and brokers.

Correct AnswerverifiedAgents and brokers do not take title to ...View AnswerShow Answer

Stores like Dillard's,Macy's,and Neiman Marcus carry a wide range of different types of products but not unusual sizes.They are known as __________.

Correct AnswerverifiedShow Answer

use of displays,coupons,product samples,and other brand communications to influence shopping behavior in a store is referred to as

Correct AnswerverifiedShow Answer

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 an example of a(n) __________.

Correct AnswerverifiedShow Answer

Mike's Camera is a retailer that carries a full line of professional and amateur camera equipment,develops all types of film and digital photos,and sells darkroom equipment.Mike's Camera is an example of a(n) __________.

Correct AnswerverifiedShow Answer

retailing mix includes all of the following EXCEPT:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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Agents and brokers do not take title to ...
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