Question 1

Another name for a drop shipper is a __________.

Accepted Answer

A)   desk jobber
B)   drop runner
C)   transport vendor
D)   container transport vendor
E)   stock jobberF) B) and D)
G) All of the above

Question 2

the Christmas Tree Shop,customers can shop for Christmas gifts at any time of year.What type of utility does this store primarily provide for its customers?

Accepted Answer

A)   place and conformance
B)   possession and form
C)   form
D)   performance
E)   timeF) A) and E)
G) B) and D)

Question 3

Shrinkage refers to

Accepted Answer

A)   the declining number of small privately owned retail stores due to economic hard times.
B)   breakage, theft, and fraud by customers and employees.
C)   the percentage of inventory that is damaged or unsalable because of product failure or problems in shipping.
D)   loss of profits in clothing items that are returned because of inferior materials.
E)   polycarbonate packaging that encases products with a tamper-resistant plastic seal.F) A) and D)
G) A) and E)

Question 4

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 B)
G) All of the above

Question 5

Woman's Place is a retail store,created and staffed by women,that offers products and services relating to maternity needs.For expectant mothers,it offers advice and personal shopping services,help with hair and/or make-up problems,and free delivery.A Woman's Place is an example of a(n) __________ retailer.

Accepted Answer

A)   franchise
B)   service
C)   limited -service
D)   full-service
E)   upscaleF) C) and E)
G) B) and E)

Question 6

__________ 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) A) and D)
G) A) and C)

Question 7

Fresh-cut flowers that only used to be available from florists can now be purchased at neighborhood supermarkets.This is an example of __________.

Accepted Answer

A)   dysfunctional competition
B)   mixed-line merchandising
C)   multi-product marketing
D)   intertype competition
E)   dual distributionF) A) and B)
G) C) and E)

Question 8

Which of the following statements regarding managing the customer experience is most accurate?

Accepted Answer

A)   As more women enter the upper levels of industry, retailers are paying less attention to men and their shopping behavior.
B)   Men were typically viewed as infrequent "mission shoppers" but they are changing their behaviors.
C)   Men will shop for electronics but leave the majority of their clothing shopping to their wives.
D)   Making the retail environment a sparse one appeals to male shoppers who value efficiency.
E)   Men prefer to shop in a social environment so they avoid shopping alone at all costs.F) All of the above
G) D) and E)

Question 9

Explain the difference between a markup,an original markup,and a maintained markup.

Accepted Answer

In setting prices for merchandise,retail...

Question 10

ability to shop over the Internet 24/7 provides consumers with __________ utility.

Accepted Answer

A)   form
B)   time
C)   convenience
D)   possession
E)   performanceF) A) and B)
G) A) and C)

Question 11

th Photo -Another name for an extreme value retailer is a(n) __________. A)  specialty outlet B)  single-price retailer C)  hypermarket D)  outlet store E)  warehouse club" class="answers-bank-image d-inline" rel="preload" > Saks Fifth Avenue Off 5th Photo
-Another name for an extreme value retailer is a(n) __________.

Accepted Answer

A)   specialty outlet
B)   single-price retailer
C)   hypermarket
D)   outlet store
E)   warehouse clubF) A) and B)
G) B) and E)

Question 12

customer was unable to go to the store on her own to buy gifts for the holidays.She contacted a Tupperware representative who came to her home,showed her not only catalogs but actual products,answered all her questions,and had all the customer's gifts sorted and delivered.This is an example of __________.

Accepted Answer

A)   interface marketing
B)   flex-marketing
C)   direct selling
D)   interactive selling
E)   responsive sellingF) None of the above
G) A) and B)

Question 13

Explain the difference between a hypermarket and a supercenter.

Accepted Answer

The hypermarket is a form of scrambled m...

Question 14

the five store locations or settings.How has the location of stores changed over the years?

Accepted Answer

Department stores started downtown in mo...

Question 15

major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers __________ and discount stores buy from wholesalers __________.

Accepted Answer

A)   who are trying to offload returned or slightly irregular inventory; selling new but inexpensive merchandise
B)   at below wholesale prices; and charge a high initial price with the full intent of taking markdowns later
C)   at below wholesale prices; at full price but take a less of a markup
D)   at various price points; at the lowest price points possible
E)   who are part of a retailing cooperative; who are part of a wholesaling cooperativeF) B) and C)
G) All of the above

Question 16

of the 1.1 million retail establishments in the United States including hardware stores,convenience stores,clothing stores,and computer and software stores are owned by __________.

Accepted Answer

A)   corporate chains
B)   contractual systems
C)   independent retailers
D)   conglomerate
E)   multinationalsF) B) and C)
G) None of the above

Question 17

There are three general forms of retail ownership: independent retailer,corporate chain,and __________.

Accepted Answer

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

Question 18

type of retail outlet that focuses on one type of product at very competitive or discount prices and often dominates the market is referred to as a __________.

Accepted Answer

A)   general merchandise store
B)   specialty outlet
C)   hypermarket
D)   category killer
E)   regional dominatorF) A) and E)
G) A) and D)

Question 19

Mall of America is an example of which type of setting for a store location?

Accepted Answer

A)   central business district
B)   regional shopping center
C)   community shopping center
D)   strip mall
E)   power centerF) B) and C)
G) A) and B)

Question 20

Which of the following is a commonly used method of classifying retail outlets?

Accepted Answer

A)   service versus product
B)   form of ownership
C)   proportion of national versus private label brands carried
D)   revenues generated
E)   profitabilityF) A) and C)
G) A) and B)

Exam 16: Retailing and Wholesaling

major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers and discount stores buy from wholesalers .

Correct Answer
verified

Which of the following statements regarding managing the customer experience is most accurate?

Correct Answer
verified

ability to shop over the Internet 24/7 provides consumers with __________ utility.

Correct Answer
verified

Another name for a drop shipper is a __________.

Correct Answer
verified

Saks Fifth Avenue Off 5^th Photo -Another name for an extreme value retailer is a(n) __________.

Correct Answer
verified

Mall of America is an example of which type of setting for a store location?

Correct Answer
verified

Explain the difference between a markup,an original markup,and a maintained markup.

Correct Answer
verified
In setting prices for merchandise,retail...
View Answer

Shrinkage refers to

Correct Answer
verified

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

Correct Answer
verified

Which of the following is a commonly used method of classifying retail outlets?

Correct Answer
verified

the five store locations or settings.How has the location of stores changed over the years?

Correct Answer
verified
Department stores started downtown in mo...
View Answer

Fresh-cut flowers that only used to be available from florists can now be purchased at neighborhood supermarkets.This is an example of __________.

Correct Answer
verified

Explain the difference between a hypermarket and a supercenter.

Correct Answer
verified
The hypermarket is a form of scrambled m...
View Answer

Correct Answer
verified

of the 1.1 million retail establishments in the United States including hardware stores,convenience stores,clothing stores,and computer and software stores are owned by __________.

Correct Answer
verified

the Christmas Tree Shop,customers can shop for Christmas gifts at any time of year.What type of utility does this store primarily provide for its customers?

Correct Answer
verified

Correct Answer
verified

There are three general forms of retail ownership: independent retailer,corporate chain,and __________.

Correct Answer
verified

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

Correct Answer
verified

type of retail outlet that focuses on one type of product at very competitive or discount prices and often dominates the market is referred to as a __________.

Correct Answer
verified

Exam 16: Retailing and Wholesaling

major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers __________ and discount stores buy from wholesalers __________.

Correct AnswerverifiedShow Answer

Which of the following statements regarding managing the customer experience is most accurate?

Correct AnswerverifiedShow Answer

ability to shop over the Internet 24/7 provides consumers with __________ utility.

Correct AnswerverifiedShow Answer

Another name for a drop shipper is a __________.

Correct AnswerverifiedShow Answer

Saks Fifth Avenue Off 5th Photo -Another name for an extreme value retailer is a(n) __________.

Correct AnswerverifiedShow Answer

Mall of America is an example of which type of setting for a store location?

Correct AnswerverifiedShow Answer

Explain the difference between a markup,an original markup,and a maintained markup.

Correct AnswerverifiedIn setting prices for merchandise,retail...View AnswerShow Answer

Shrinkage refers to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following is a commonly used method of classifying retail outlets?

Correct AnswerverifiedShow Answer

the five store locations or settings.How has the location of stores changed over the years?

Correct AnswerverifiedDepartment stores started downtown in mo...View AnswerShow Answer

Fresh-cut flowers that only used to be available from florists can now be purchased at neighborhood supermarkets.This is an example of __________.

Correct AnswerverifiedShow Answer

Explain the difference between a hypermarket and a supercenter.

Correct AnswerverifiedThe hypermarket is a form of scrambled m...View AnswerShow Answer

Correct AnswerverifiedShow Answer

of the 1.1 million retail establishments in the United States including hardware stores,convenience stores,clothing stores,and computer and software stores are owned by __________.

Correct AnswerverifiedShow Answer

the Christmas Tree Shop,customers can shop for Christmas gifts at any time of year.What type of utility does this store primarily provide for its customers?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

There are three general forms of retail ownership: independent retailer,corporate chain,and __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

type of retail outlet that focuses on one type of product at very competitive or discount prices and often dominates the market is referred to as a __________.

Correct AnswerverifiedShow Answer

major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers and discount stores buy from wholesalers .

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Saks Fifth Avenue Off 5^th Photo -Another name for an extreme value retailer is a(n) __________.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
In setting prices for merchandise,retail...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Department stores started downtown in mo...
View Answer

Correct Answer
verified

Correct Answer
verified
The hypermarket is a form of scrambled m...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified