Question 1

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as

Accepted Answer

A)   manufacturing.
B)   retailing.
C)   wholesaling.
D)   facilitating.
E)   logistics.F) All of the above
G) B) and C)

Question 2

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)   total-
C)   involvement-
D)   obligation-
E)   fixed-F) A) and B)
G) All of the above

Question 3

A large assortment of each item within a product line in a store is referred to as

Accepted Answer

A)   product span.
B)   breadth of product line.
C)   length of product line.
D)   width of product line.
E)   depth of product line.F) C) and D)
G) A) and E)

Question 4

A grocery manufacturer that is seeking an agent that would act on its behalf on a permanent basis and receive a commission should use a

Accepted Answer

A)   food broker.
B)   grocery broker.
C)   selling agent.
D)   dual distribution system.
E)   rack jobber.F) C) and E)
G) A) and B)

Question 5

Which of the following is one of the largest retailers in the United States?

Accepted Answer

A)   Hallmark
B)   Procter & Gamble
C)   Merck
D)   Home Depot
E)   Johnson and JohnsonF) B) and C)
G) None of the above

Question 6

The four stages of the retail life cycle are

Accepted Answer

A)   introduction, growth, maturity, and decline.
B)   awareness, inquiry, alternative evaluation, and purchase.
C)   early growth, accelerated development, maturity, and decline.
D)   innovation, standardization, adaptation, and obsolescence.
E)   innovation, adaptation, imitation, and obsolescence.F) B) and E)
G) A) and D)

Question 7

According to the textbook,__________ provides third-party certification and offers guidance for retailers implementing new environmentally sound practices.

Accepted Answer

A)   the Environmental Protection Agency
B)   the U.S. Chamber of Commerce-Environmental Division
C)   Green Cross International
D)   the U.S. Green Retail Association
E)   Leadership in Energy and Environmental Design (LEE
D)  F) B) and C)
G) A) and E)

Question 8

In the telemarketing industry,issues such as __________,ethical guidelines,and industry standards have become a topic of discussion among consumers,Congress,the Federal Trade Commission (FTC) ,and businesses.

Accepted Answer

A)   competitive antics
B)   coercion tactics
C)   freedom of speech
D)   language issues
E)   consumer privacyF) B) and C)
G) B) and E)

Question 9

One of the most common forms of retail ownership is the __________ owned by a person.

Accepted Answer

A)   corporate chain
B)   consumer cooperative
C)   contractual system
D)   independent retailer
E)   administered systemF) B) and E)
G) C) and E) D

Question 10

During which stage of the retail life cycle do companies establish multiple outlets?

Accepted Answer

A)   decline
B)   maturity
C)   accelerated development
D)   introduction
E)   early growthF) A) and D)
G) A) and B)

Question 11

Discounting a product when the product does not sell at the original price is referred to as

Accepted Answer

A)   an inverse markup.
B)   a markdown.
C)   price sensitivity.
D)   concession pricing.
E)   a rebate.F) A) and B)
G) A) and C) B

Question 12

An IKEA mail order catalog is an example of __________ retailing.

Accepted Answer

A)   intrusive
B)   intertype
C)   scrambled
D)   nonstore
E)   hypermarketF) B) and D)
G) C) and E)

Question 13

Vending machines are an example of

Accepted Answer

A)   hypermarkets.
B)   direct marketing.
C)   scrambled merchandising.
D)   intertype competition.
E)   nonstore retailing.F) A) and B)
G) A) and C)

Question 14

Retail outlets vary by their merchandise lines,the key distinction being the __________ of the items offered to customers.

Accepted Answer

A)   scope and span
B)   breadth and depth
C)   breadth and inventory
D)   scope and inventory
E)   range and spanF) A) and B)
G) B) and C)

Question 15

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 that 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 B)
G) All of the above

Question 16

When Home Depot switched its in-store light fixture displays to compact fluorescent light and LED bulbs,painted the roofs of its stores white,and installed solar panels,it reduced its energy use by __________ percent.

Accepted Answer

A)   5
B)   10
C)   15
D)   20
E)   25F) A) and E)
G) A) and B)

Question 17

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) A) and D)
G) A) and B)

Question 18

Which of the following statements best describes the key difference between merchant wholesalers and agents and brokers?

Accepted Answer

A)   Merchant wholesalers don't perform all channel functions, whereas agents and brokers do.
B)   Agents and brokers only deal with consumer channels.
C)   Agents and brokers make their profits based on the sales of merchandise they own, while merchant wholesalers make profits based on fees paid for their services.
D)   Merchant wholesalers take title to merchandise, whereas agents and brokers do not.
E)   Agents and brokers take title to merchandise, whereas merchant wholesalers do not.F) A) and B)
G) All of the above

Question 19

Higher paper costs,increased postage rates,the growing interest in do-not-mail legislation,and concern for "green" mailings have resulted in

Accepted Answer

A)   a switch to online catalogs and direct-to-customer e-mail advertisements.
B)   the use of thinner, lightweight paper products.
C)   a focus on proven customers or specialty catalogs for market niches.
D)   the banning of "junk" mail by a growing number of environmentally concerned communities.
E)   a resurgence in nonautomated telemarketing.F) C) and D)
G) B) and C)

Question 20

Jim Smith is an avid fly fisherman who lives in Deer Key,Florida.For his hobby,Jim needs large rubber rafts,hip waders,special fishing rods,reels,line,and an assortment of fishing tackle and lures.There are no sporting goods stores in Deer Key,so Jim orders his fishing supplies from the L.L.Bean catalog.His supplies are generally delivered to his home within 72 hours.Jim is using a __________ to satisfy his fishing supply needs.

Accepted Answer

A)   home delivery retailer
B)   quick-response retailer
C)   direct-mail marketer
D)   flexible response marketer
E)   regional marketerF) C) and D)
G) All of the above C

Exam 13: Retailing and Wholesaling

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as

Correct Answer
verified

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

A large assortment of each item within a product line in a store is referred to as

Correct Answer
verified

A grocery manufacturer that is seeking an agent that would act on its behalf on a permanent basis and receive a commission should use a

Correct Answer
verified

Which of the following is one of the largest retailers in the United States?

Correct Answer
verified

The four stages of the retail life cycle are

Correct Answer
verified

According to the textbook,__________ provides third-party certification and offers guidance for retailers implementing new environmentally sound practices.

Correct Answer
verified

In the telemarketing industry,issues such as __________,ethical guidelines,and industry standards have become a topic of discussion among consumers,Congress,the Federal Trade Commission (FTC) ,and businesses.

Correct Answer
verified

One of the most common forms of retail ownership is the __________ owned by a person.

Correct Answer
verified
D

During which stage of the retail life cycle do companies establish multiple outlets?

Correct Answer
verified

Discounting a product when the product does not sell at the original price is referred to as

Correct Answer
verified
B

An IKEA mail order catalog is an example of __________ retailing.

Correct Answer
verified

Vending machines are an example of

Correct Answer
verified

Retail outlets vary by their merchandise lines,the key distinction being the __________ of the items offered to customers.

Correct Answer
verified

Brokers are independent firms or individuals who

Correct Answer
verified

When Home Depot switched its in-store light fixture displays to compact fluorescent light and LED bulbs,painted the roofs of its stores white,and installed solar panels,it reduced its energy use by __________ percent.

Correct Answer
verified

Consumers benefit in dealing with retail corporate chains because

Correct Answer
verified

Which of the following statements best describes the key difference between merchant wholesalers and agents and brokers?

Correct Answer
verified

Higher paper costs,increased postage rates,the growing interest in do-not-mail legislation,and concern for "green" mailings have resulted in

Correct Answer
verified

Correct Answer
verified
C

Exam 13: Retailing and Wholesaling

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as

Correct AnswerverifiedShow Answer

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

A large assortment of each item within a product line in a store is referred to as

Correct AnswerverifiedShow Answer

A grocery manufacturer that is seeking an agent that would act on its behalf on a permanent basis and receive a commission should use a

Correct AnswerverifiedShow Answer

Which of the following is one of the largest retailers in the United States?

Correct AnswerverifiedShow Answer

The four stages of the retail life cycle are

Correct AnswerverifiedShow Answer

According to the textbook,__________ provides third-party certification and offers guidance for retailers implementing new environmentally sound practices.

Correct AnswerverifiedShow Answer

In the telemarketing industry,issues such as __________,ethical guidelines,and industry standards have become a topic of discussion among consumers,Congress,the Federal Trade Commission (FTC) ,and businesses.

Correct AnswerverifiedShow Answer

One of the most common forms of retail ownership is the __________ owned by a person.

Correct AnswerverifiedD

During which stage of the retail life cycle do companies establish multiple outlets?

Correct AnswerverifiedShow Answer

Discounting a product when the product does not sell at the original price is referred to as

Correct AnswerverifiedB

An IKEA mail order catalog is an example of __________ retailing.

Correct AnswerverifiedShow Answer

Vending machines are an example of

Correct AnswerverifiedShow Answer

Retail outlets vary by their merchandise lines,the key distinction being the __________ of the items offered to customers.

Correct AnswerverifiedShow Answer

Brokers are independent firms or individuals who

Correct AnswerverifiedShow Answer

When Home Depot switched its in-store light fixture displays to compact fluorescent light and LED bulbs,painted the roofs of its stores white,and installed solar panels,it reduced its energy use by __________ percent.

Correct AnswerverifiedShow Answer

Consumers benefit in dealing with retail corporate chains because

Correct AnswerverifiedShow Answer

Which of the following statements best describes the key difference between merchant wholesalers and agents and brokers?

Correct AnswerverifiedShow Answer

Higher paper costs,increased postage rates,the growing interest in do-not-mail legislation,and concern for "green" mailings have resulted in

Correct AnswerverifiedShow Answer

Correct AnswerverifiedC

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D

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B

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C