Question 1

To continue to be successful,Mall of America must

Accepted Answer

A)   focus mostly on attracting suitable employees.
B)   keep a huge and diverse portfolio of retailers and attractions in the mall.
C)   refine and focus the retail mix to create a more consistent purchasing experience.
D)   promote its location as a key feature.
E)   reduce the variety of retailers to contain the costs of appealing to a wide range of customers.F) B) and C)
G) A) and E)

Question 2

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 D)
G) A) and E)

Question 3

Direct selling is likely to continue to have strong growth in markets

Accepted Answer

A)   in which people prefer not to have a social shopping experience.
B)   where convenience is not especially important.
C)   in which consumers are knowledgeable shoppers.
D)   where there is a lack of effective distribution channels.
E)   that have an excellent infrastructure.F) C) and D)
G) All of the above

Question 4

A manufacturer's branch office

Accepted Answer

A)   carries a producer's inventory and performs the functions of a full-service wholesaler.
B)   performs a sales function as an option to agents and brokers.
C)   works for several producers and carries noncompetitive, complementary merchandise in an exclusive territory.
D)   takes title to merchandise but sells only to buyers that call on them, pay cash for merchandise, and furnish their own transportation for the merchandise.
E)   brings buyers and sellers together to make sales.F) C) and D)
G) A) and D)

Question 5

One method of classification categorizes a retailer as self-,limited-,or full-

Accepted Answer

A)   involvement.
B)   assortment.
C)   management.
D)   service.
E)   ownership.F) A) and B)
G) B) and E)

Question 6

__________ resembles a pair of eyeglasses with a small display screen visible to the wearer.Image and voice recognition capabilities allow retail clerks to check manuals for technical information,verify stock inventories,place orders,or even check out customers from anywhere in the store.

Accepted Answer

A)   Apple Watch
B)   Facebook Vision
C)   EyeTap Goggles
D)   Google Glass
E)   Foursquare's FourEyesF) A) and B)
G) B) and D)

Question 7

All of the following retailers provide self-service to their customers except which?

Accepted Answer

A)   Zipcar
B)   Shop24
C)   Target
D)   Redbox
E)   CostcoF) A) and B)
G) A) and C)

Question 8

Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried?

Accepted Answer

A)   general merchandise wholesaler
B)   limited-service wholesaler
C)   cash and carry wholesaler
D)   specialty merchandise wholesaler
E)   drop shipperF) C) and D)
G) A) and C)

Question 9

Which of the following stores are most likely to be anchor stores at a regional shopping center?

Accepted Answer

A)   Old Navy, Abercrombie & Fitch, and Kay-Bee toy store
B)   Hickory Farms, a locally owned jewelry store, and McDonald's
C)   an antique store, Dollar General, and a bakery
D)   Sears, Macy's, and JC Penney
E)   a Hallmark shop, a sporting goods consignment store, and a Barnes & Noble bookstoreF) B) and C)
G) C) and D)

Question 10

A manufacturer's sales office

Accepted Answer

A)   works for several producers and carries noncompetitive, complementary merchandise in an exclusive territory.
B)   takes title to merchandise but sells only to buyers that call on them, pay cash for merchandise, and furnish their own transportation for the merchandise.
C)   carries a producer's inventory, performs the functions of a full-service wholesaler, and is an alternative to a merchant wholesaler.
D)   does not carry inventory, typically performs a sales function, and is an alternative to agents and brokers.
E)   brings buyers and sellers together to make sales.F) B) and E)
G) A) and B)

Question 11

In the late 1950s,Pierre Martineau described __________ as "the way in which the store is defined in the shopper's mind."

Accepted Answer

A)   size
B)   location
C)   product mix
D)   image
E)   anchor storeF) B) and E)
G) A) and D)

Question 12

The activities related to managing the store and the merchandise in the store,which includes retail pricing,store location,retail communication,and merchandise are referred to as the

Accepted Answer

A)   wheel of retailing.
B)   distribution mix.
C)   retail life cycle.
D)   retailing mix.
E)   retail store positioning.F) A) and B)
G) C) and D)

Question 13

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores.These are referred to as

Accepted Answer

A)   extreme value retailers.
B)   warehouse clubs.
C)   discount houses.
D)   outlet stores.
E)   community shopping centers.F) A) and B)
G) All of the above

Question 14

A franchise where the franchiser provides a few general guidelines and more independence to the franchisee is known as a

Accepted Answer

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

Question 15

Currently,the three largest television home shopping programs in the United States are

Accepted Answer

A)  QVC,HSN,and ShopNBC.
B)  Shop at Home,QVC,and HSN.
C)  Direct Shopper,Shop at Home,and ShopNBC.
D)  ValueVision,Shop at Home,and QVC.
E)  Shop America,Direct shopper,and J.S.Global.F) A) and D)
G) A) and B)

Question 16

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 outlet.F) All of the above
G) A) and C)

Question 17

Intermediaries that work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory are referred to as

Accepted Answer

A)   selling agents.
B)   line brokers.
C)   distribution brokers.
D)   manufacturers' agents.
E)   brokers.F) D) and E)
G) A) and D)

Question 18

Gas stations,supermarkets,and airlines that have unstaffed check-out or check-in terminals are providing what level of retail service?

Accepted Answer

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

Question 19

Explain how the wheel of retailing works.

Accepted Answer

The wheel of retailing describes how new...

Question 20

Carla's Cards uses a __________ to sell and market the entire line of greeting cards.It designs promotional plans,sets prices,determines distribution policies,and makes recommendations to Carla on product strategy.

Accepted Answer

A)   manufacturer's agent
B)   broker
C)   manufacturer's branch office
D)   manufacturer's sales office
E)   selling agentF) A) and B)
G) None of the above

Exam 13: Retailing and Wholesaling

Gas stations,supermarkets,and airlines that have unstaffed check-out or check-in terminals are providing what level of retail service?

Correct AnswerverifiedShow Answer

Intermediaries that work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory are referred to as

Correct AnswerverifiedShow Answer

A manufacturer's sales office

Correct AnswerverifiedShow Answer

Which of the following stores are most likely to be anchor stores at a regional shopping center?

Correct AnswerverifiedShow Answer

__________ resembles a pair of eyeglasses with a small display screen visible to the wearer.Image and voice recognition capabilities allow retail clerks to check manuals for technical information,verify stock inventories,place orders,or even check out customers from anywhere in the store.

Correct AnswerverifiedShow Answer

General merchandise wholesalers

Correct AnswerverifiedShow Answer

Currently,the three largest television home shopping programs in the United States are

Correct AnswerverifiedShow Answer

Direct selling is likely to continue to have strong growth in markets

Correct AnswerverifiedShow Answer

A manufacturer's branch office

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Carla's Cards uses a __________ to sell and market the entire line of greeting cards.It designs promotional plans,sets prices,determines distribution policies,and makes recommendations to Carla on product strategy.

Correct AnswerverifiedShow Answer

All of the following retailers provide self-service to their customers except which?

Correct AnswerverifiedShow Answer

Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried?

Correct AnswerverifiedShow Answer

A franchise where the franchiser provides a few general guidelines and more independence to the franchisee is known as a

Correct AnswerverifiedShow Answer

One method of classification categorizes a retailer as self-,limited-,or full-

Correct AnswerverifiedShow Answer

To continue to be successful,Mall of America must

Correct AnswerverifiedShow Answer

The activities related to managing the store and the merchandise in the store,which includes retail pricing,store location,retail communication,and merchandise are referred to as the

Correct AnswerverifiedShow Answer

In the late 1950s,Pierre Martineau described __________ as "the way in which the store is defined in the shopper's mind."

Correct AnswerverifiedShow Answer

Explain how the wheel of retailing works.

Correct AnswerverifiedThe wheel of retailing describes how new...View AnswerShow Answer

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores.These are referred to as

Correct AnswerverifiedShow Answer

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The wheel of retailing describes how new...
View Answer

Correct Answer
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