Question 1

three basic types of contractual systems are:

Accepted Answer

A)   retailer-sponsored cooperatives, wholesaler-sponsored voluntary chains, and franchises.
B)   dual ownership agreements, industry consortiums, and non-binding cooperatives.
C)   wholesaler-sponsored voluntary chains, non-binding cooperatives, and franchises.
D)   dual ownership agreements, industry consortiums, and multi-national cartels.
E)   non-binding, binding, and in perpetuity.F) All of the above
G) D) and E)

Question 2

Describe the retail life cycle.

Accepted Answer

The retail life cycle describes the proc...

Question 3

Dollar General and the Dollar Tree are examples of which type of retailer?

Accepted Answer

A)   warehouse club
B)   hypermarket
C)   outlet store
D)   everyday value retailer
E)   extreme value retailerF) All of the above
G) B) and C)

Question 4

vertical dimension of the retail positioning matrix is

Accepted Answer

A)   depth of product line.
B)   relative market share.
C)   value added.
D)   breadth of product line.
E)   stage in the retail life cycle.F) A) and D)
G) C) and D)

Question 5

Scrambled merchandising refers to

Accepted Answer

A)   displaying merchandise and highlighting complementary products rather than keeping all similar items together in rows on a shelf.
B)   offering several unrelated product lines in a single store.
C)   changing where items are displayed in a store to create interest and expose customers to alternative product choices.
D)   retailers that purchase odd-lots of overstocks or discontinued items for resale.
E)   strip malls that house a seemingly mismatched assortment of retail outlets to create more customer traffic.F) B) and D)
G) A) and E)

Question 6

Vending machines are an example of __________.

Accepted Answer

A)   hypermarkets
B)   direct mail
C)   scrambled merchandising
D)   intertype competition
E)   nonstore retailingF) A) and B)
G) A) and C)

Question 7

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

Accepted Answer

A)   intertype competition
B)   multiple distribution
C)   scrambled merchandising
D)   a department store
E)   a specialty outletF) D) and E)
G) B) and E)

Question 8

degree of service provided to the customer from self-,limited-,and full-service retailers is referred to as __________.

Accepted Answer

A)   involvement
B)   level of service
C)   service commitment
D)   customer obligation
E)   degree of commitmentF) A) and D)
G) A) and C)

Question 9

Figure 16-8
-Which of the following stores would best fit in "D" shown in Figure 16-8 above?

Accepted Answer

A)   Kmart
B)   Payless ShoeSource
C)   Dillard's department store
D)   a Toyota automobile dealer
E)   Tiffany & Co.F) A) and E)
G) A) and D)

Question 10

Texas-based Whole Foods supermarkets target people who want to eat healthy.The stores use placards throughout,which tell shoppers about the farmers who grew and harvested the various products sold.This use of signage to provide consumer information is a part of which element of the retailing mix?

Accepted Answer

A)   communication
B)   pricing
C)   merchandise
D)   goods and services factor
E)   locationF) A) and B)
G) B) and D)

Question 11

Independently owned firms that take title to the merchandise they handle are referred to as

Accepted Answer

A)   brokers.
B)   agencies.
C)   virtual retailers.
D)   merchant wholesalers.
E)   merchant retailers.F) B) and E)
G) A) and E)

Question 12

method of classification that describes how many different types of products a store carries and in what assortment is referred to as a __________.

Accepted Answer

A)   product mix
B)   service level
C)   product assortment
D)   store composition
E)   merchandise lineF) C) and E)
G) A) and C)

Question 13

franchise where the franchisor provides step-by-step procedures for most aspects of the business is known as a

Accepted Answer

A)   business-format franchise.
B)   product-distribution franchise.
C)   business franchise venture.
D)   manufacturing franchise.
E)   general service franchise.F) A) and D)
G) B) and D)

Question 14

Level of service is used to describe the degree of service provided to the customer.Three levels of service are provided by self-,_________-,and full-service retailers.

Accepted Answer

A)   limited
B)   commitment
C)   involvement
D)   obligation
E)   pledgeF) B) and D)
G) A) and B)

Question 15

Organizations that decide to franchise (franchisors) have __________ expansion costs accompanied by __________ control,compared to owning their own retail outlets.

Accepted Answer

A)   greater; greater
B)   reduced; reduced
C)   greater; reduced
D)   reduced; greater
E)   greater; about the sameF) A) and B)
G) A) and C)

Question 16

common financial indicator of how effectively retail space is used to generate revenue can be calculated by determining __________.

Accepted Answer

A)   net sales
B)   shareholders' equity
C)   market share
D)   sales per square foot
E)   return on investmentF) A) and C)
G) A) and E)

Question 17

There are three general forms of retail ownership: contractual system,corporate chain,and __________.

Accepted Answer

A)   dual ownership
B)   industry consortium
C)   retailing cooperative
D)   independent retailer
E)   multi-national cartelF) A) and C)
G) A) and E)

Question 18

Brokers are independent firms or individuals who

Accepted Answer

A)   represent a single producer and are responsible for the entire marketing function of that producer.
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 the merchandise.
D)   own the merchandise they sell but do not physically handle, stock, or deliver it.
E)   bring buyers and sellers together to make sales.F) A) and C)
G) A) and D)

Exam 16: Retailing and Wholesaling

Level of service is used to describe the degree of service provided to the customer.Three levels of service are provided by self-,_________-,and full-service retailers.

Correct Answer
verified

Describe the retail life cycle.

Correct Answer
verified
The retail life cycle describes the proc...
View Answer

Figure 16-8 -Which of the following stores would best fit in "D" shown in Figure 16-8 above?

Correct Answer
verified

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

Correct Answer
verified

Scrambled merchandising refers to

Correct Answer
verified

common financial indicator of how effectively retail space is used to generate revenue can be calculated by determining __________.

Correct Answer
verified

Brokers are independent firms or individuals who

Correct Answer
verified

Independently owned firms that take title to the merchandise they handle are referred to as

Correct Answer
verified

franchise where the franchisor provides step-by-step procedures for most aspects of the business is known as a

Correct Answer
verified

Texas-based Whole Foods supermarkets target people who want to eat healthy.The stores use placards throughout,which tell shoppers about the farmers who grew and harvested the various products sold.This use of signage to provide consumer information is a part of which element of the retailing mix?

Correct Answer
verified

Dollar General and the Dollar Tree are examples of which type of retailer?

Correct Answer
verified

Organizations that decide to franchise (franchisors) have expansion costs accompanied by control,compared to owning their own retail outlets.

Correct Answer
verified

vertical dimension of the retail positioning matrix is

Correct Answer
verified

method of classification that describes how many different types of products a store carries and in what assortment is referred to as a __________.

Correct Answer
verified

There are three general forms of retail ownership: contractual system,corporate chain,and __________.

Correct Answer
verified

degree of service provided to the customer from self-,limited-,and full-service retailers is referred to as __________.

Correct Answer
verified

three basic types of contractual systems are:

Correct Answer
verified

Vending machines are an example of __________.

Correct Answer
verified

Exam 16: Retailing and Wholesaling

Level of service is used to describe the degree of service provided to the customer.Three levels of service are provided by self-,_________-,and full-service retailers.

Correct AnswerverifiedShow Answer

Describe the retail life cycle.

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

Figure 16-8 -Which of the following stores would best fit in "D" shown in Figure 16-8 above?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Scrambled merchandising refers to

Correct AnswerverifiedShow Answer

common financial indicator of how effectively retail space is used to generate revenue can be calculated by determining __________.

Correct AnswerverifiedShow Answer

Brokers are independent firms or individuals who

Correct AnswerverifiedShow Answer

Independently owned firms that take title to the merchandise they handle are referred to as

Correct AnswerverifiedShow Answer

franchise where the franchisor provides step-by-step procedures for most aspects of the business is known as a

Correct AnswerverifiedShow Answer

Texas-based Whole Foods supermarkets target people who want to eat healthy.The stores use placards throughout,which tell shoppers about the farmers who grew and harvested the various products sold.This use of signage to provide consumer information is a part of which element of the retailing mix?

Correct AnswerverifiedShow Answer

Dollar General and the Dollar Tree are examples of which type of retailer?

Correct AnswerverifiedShow Answer

Organizations that decide to franchise (franchisors) have __________ expansion costs accompanied by __________ control,compared to owning their own retail outlets.

Correct AnswerverifiedShow Answer

vertical dimension of the retail positioning matrix is

Correct AnswerverifiedShow Answer

method of classification that describes how many different types of products a store carries and in what assortment is referred to as a __________.

Correct AnswerverifiedShow Answer

There are three general forms of retail ownership: contractual system,corporate chain,and __________.

Correct AnswerverifiedShow Answer

degree of service provided to the customer from self-,limited-,and full-service retailers is referred to as __________.

Correct AnswerverifiedShow Answer

three basic types of contractual systems are:

Correct AnswerverifiedShow Answer

Vending machines are an example of __________.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
The retail life cycle describes the proc...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Organizations that decide to franchise (franchisors) have expansion costs accompanied by control,compared to owning their own retail outlets.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified