Question 1

__________ provided by retailers create value for consumers.

Accepted Answer

A)   utilities
B)   wholesaling functions
C)   outsourcing
D)   logistics
E)   synergiesF) A) and B)
G) A) and C)

Question 2

Figure 16-2
-shown in Figure 16-2 above,the greatest dollar amount of retail sales in the United States is generated by __________.

Accepted Answer

A)   food and beverage stores
B)   sporting goods, books, and music stores
C)   electronic stores
D)   automotive dealers
E)   furniture and home furnishing storesF) None of the above
G) C) and D)

Question 3

Vending machines are popular with consumers; recent consumer satisfaction research indicates that __________ percent of consumers believe purchasing from a vending machine is equal to or superior to a store purchase.

Accepted Answer

A)   15
B)   27
C)   49
D)   63
E)   82F) B) and D)
G) C) and E)

Question 4

and carry wholesalers

Accepted Answer

A)   handle bulky items like lumber, bricks, and telephone poles.
B)   handle perishable items like flowers, baked goods, and deli meats.
C)   handle office supplies, electrical supplies, hardware products, and groceries.
D)   are a kind of full-service wholesaler.
E)   lease vending machines to merchants and refill them as needed on a cash only basis.F) D) and E)
G) C) and D)

Question 5

Consumers benefit in dealing with retail corporate chains because

Accepted Answer

A)   corporate chains have more experience than other forms of retailers.
B)   they can own stock in the same company where they shop since corporate chain stock must be publicly-traded.
C)   they can establish a credit history more easily than with other forms of retailers.
D)   there are multiple outlets with similar merchandise and consistent management policies.
E)   they have less stress in making decisions since merchandise is arranged and displayed by professional designers.F) B) and D)
G) A) and D)

Question 6

restaurant that offers food made exactly to each customer's preference is providing its customers with __________ utility.

Accepted Answer

A)   time
B)   place
C)   possession
D)   form
E)   processF) None of the above
G) A) and D)

Question 7

China,130,000 Internet cafes serve __________ customers.

Accepted Answer

A)   163,000
B)   16,300,000
C)   163,000,000
D)   1,630,000,000
E)   16,300,000,000F) B) and E)
G) A) and D)

Question 8

management approach in which a manger is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other,with the objective of maximizing sales and profits in the category,is referred to as __________.

Accepted Answer

A)   capacity management
B)   product management
C)   retail inventory management
D)   category management
E)   automated inventory controlF) A) and B)
G) B) and D)

Question 9

Emphasizing consistently low prices and eliminating most markdowns is referred to as __________.

Accepted Answer

A)   low-margin pricing
B)   everyday low pricing
C)   everyday fair pricing
D)   value-based pricing
E)   maintained pricingF) A) and D)
G) B) and E)

Question 10

cluster of neighborhood stores that serves people within a 5-to 10-mile radius is referred to as a(n)

Accepted Answer

A)   suburban shopping mall.
B)   strip mall.
C)   mini-mart.
D)   hypermarket.
E)   central business district.F) A) and E)
G) B) and C)

Question 11

Retailers have come to realize that consumers want products that are consistent with their personal values and

Accepted Answer

A)   foreign regulations.
B)   meet third party certifications.
C)   they want to purchase them from retailers with similar values.
D)   cost less.
E)   social image.F) C) and D)
G) D) and E)

Question 12

Direct selling is likely to continue to grow in markets

Accepted Answer

A)   for people who prefer not to have a social shopping experience.
B)   where there are effective distribution channels.
C)   in which consumers are knowledgeable shoppers.
D)   where door-to-door convenience is important.
E)   that have an excellent infrastructure.F) A) and E)
G) B) and C)

Question 13

of the biggest problems online retailers face is that nearly two-thirds of online shoppers make it to "checkout" and then leave the website 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) B) and C)
G) B) and E)

Question 14

Sales per Square Foot and Same-Store Sales Growth Marketing Dashboards
-Which of the following stores shown in the Sales per Square Foot Marketing Dashboard above has the highest sales per square foot?

Accepted Answer

A)   Target
B)   Neiman Marcus
C)   Best Buy
D)   Tiffany
E)   AppleF) B) and D)
G) A) and B)

Question 15

T.J. Maxx HomeGoods Photo
-Savings to the consumer at off-price retailers are reported as high as __________ off the prices of a traditional department store.

Accepted Answer

A)   50%
B)   60%
C)   70%
D)   80%
E)   90%F) C) and D)
G) B) and E)

Question 16

Usage of specialty catalogs,like those from firms like IKEA,Crate and Barrel,and L.L.Bean have been affected by all of the following factors except:

Accepted Answer

A)   influence of larger retailers as their marketing activities have increased the number and variety of products consumers purchase through direct mail and catalogs.
B)   higher paper costs, increase in postage rates, and the possibility of the U.S. Postal Service reducing delivery to five days a week.
C)   growing interest in do-not-mail legislation.
D)   concern for "green" mailings and catalogs.
E)   growing influence of television home shopping where consumers order over the telephone.F) B) and C)
G) A) and B)

Question 17

General merchandise wholesalers

Accepted Answer

A)   carry a broad assortment of merchandise and perform all channel functions.
B)   own the merchandise they sell but do not physically handle, stock, or deliver it.
C)   have a small warehouse from which they stock their trucks for distribution to retailers.
D)   work for several producers, carry noncompetitive, complementary merchandise in an exclusive territory, and use over-the-road transportation for all product deliveries.
E)   deal exclusively with small low-cost consumer products that are distributed to a select number of large retail chains.F) A) and E)
G) C) and E)

Question 18

Bloomingdale's stores are all part of __________ corporate chain.

Accepted Answer

A)   Dillard's
B)   Macy's
C)   Target's
D)   Walmart's
E)   Saks Fifth AvenueF) A) and D)
G) A) and E)

Question 19

Europe,stores called __________ are based on the concept of one-stop shopping for consumers.Such retail stores,which use scrambled merchandising,often encompass over 200,000 square feet and offer quality,variety,and low price for food and groceries and general merchandise.

Accepted Answer

A)   megamarkets
B)   hypermarkets
C)   one-stop markets
D)   euromarkets
E)   supercentersF) D) and E)
G) A) and B)

Question 20

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

Accepted Answer

A)   machine vendors
B)   credit line wholesalers
C)   transport vendors
D)   cash and carry wholesalers
E)   container transport vendorsF) All of the above
G) D) and E)

Exam 16: Retailing and Wholesaling

Direct selling is likely to continue to grow in markets

Correct AnswerverifiedShow Answer

cluster of neighborhood stores that serves people within a 5-to 10-mile radius is referred to as a(n)

Correct AnswerverifiedShow Answer

Consumers benefit in dealing with retail corporate chains because

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

restaurant that offers food made exactly to each customer's preference is providing its customers with __________ utility.

Correct AnswerverifiedShow Answer

Bloomingdale's stores are all part of __________ corporate chain.

Correct AnswerverifiedShow Answer

Usage of specialty catalogs,like those from firms like IKEA,Crate and Barrel,and L.L.Bean have been affected by all of the following factors except:

Correct AnswerverifiedShow Answer

Vending machines are popular with consumers; recent consumer satisfaction research indicates that __________ percent of consumers believe purchasing from a vending machine is equal to or superior to a store purchase.

Correct AnswerverifiedShow Answer

management approach in which a manger is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other,with the objective of maximizing sales and profits in the category,is referred to as __________.

Correct AnswerverifiedShow Answer

Sales per Square Foot and Same-Store Sales Growth Marketing Dashboards -Which of the following stores shown in the Sales per Square Foot Marketing Dashboard above has the highest sales per square foot?

Correct AnswerverifiedShow Answer

Figure 16-2 -shown in Figure 16-2 above,the greatest dollar amount of retail sales in the United States is generated by __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Europe,stores called __________ are based on the concept of one-stop shopping for consumers.Such retail stores,which use scrambled merchandising,often encompass over 200,000 square feet and offer quality,variety,and low price for food and groceries and general merchandise.

Correct AnswerverifiedShow Answer

and carry wholesalers

Correct AnswerverifiedShow Answer

Retailers have come to realize that consumers want products that are consistent with their personal values and

Correct AnswerverifiedShow Answer

China,130,000 Internet cafes serve __________ customers.

Correct AnswerverifiedShow Answer

T.J. Maxx HomeGoods Photo -Savings to the consumer at off-price retailers are reported as high as __________ off the prices of a traditional department store.

Correct AnswerverifiedShow Answer

Emphasizing consistently low prices and eliminating most markdowns is referred to as __________.

Correct AnswerverifiedShow Answer

General merchandise wholesalers

Correct AnswerverifiedShow Answer

__________ provided by retailers create value for consumers.

Correct AnswerverifiedShow Answer

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