Question 1

Another name for a manufacturer's agent is a

Accepted Answer

A)   manufacturer's desk jobber.
B)   manufacturer's transport vendor.
C)   manufacturer's representative.
D)   manufacturer's wholesaler.
E)   manufacturer's rack jobber.F) D) and E)
G) B) and D)

Question 2

The three key methods of classifying retail operations are

Accepted Answer

A)   method of operation, revenues generated, and merchandise line.
B)   form of ownership, method of operation, and merchandise line.
C)   form of ownership, level of service, and merchandise line.
D)   level of service, merchandise line, and revenues generated.
E)   merchandise line, form of ownership, and revenues generated.F) B) and C)
G) A) and E)

Question 3

The two general types of franchises are

Accepted Answer

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

Question 4

The three commonly used terms to describe levels of service in retailing are

Accepted Answer

A)   self-service, limited-service, and full-service.
B)   retailer-service, sales-service, and customer-service.
C)   self-service, automated-service, and online-service.
D)   limited-service, full-service, and automated-service.
E)   wholesaler-service, retailer-service, and customer-service.F) All of the above
G) D) and E)

Question 5

Direct selling, sometimes called ________, involves direct sales of goods and services to consumers through personal interactions and demonstrations in their home or office.

Accepted Answer

A)   interface marketing
B)   flex marketing
C)   interactive selling
D)   responsive selling
E)   door-to-door retailingF) C) and D)
G) A) and B)

Question 6

Freightfinder.com is an Internet company that is called a "go-between." If a trucker needs to find a load for a particular trade lane, he or she can visit this site, list the price and available truck space, and find a company that needs a shipment moved. Since the purpose of this website is to put buyer and sellers together so that a single sale can be made, this website can be categorized as

Accepted Answer

A)   a selling agent.
B)   a manufacturer's representative.
C)   a manufacturer's agent.
D)   a broker.
E)   an administrator.F) A) and E)
G) B) and E)

Question 7

As a result of legislation, consumers who do not want to receive telephone calls related to company sales efforts can

Accepted Answer

A)   purchase telephones that block unwanted calls.
B)   place their telephone numbers on the National Do Not Call Registry.
C)   request phone numbers that begin with the area code 555 that automatically block telemarketing solicitors.
D)   request phone numbers that begin with the area code 888 that automatically block telemarketing solicitors.
E)   use an unlisted telephone number.F) B) and E)
G) C) and D)

Question 8

Sales per square foot is calculated by dividing

Accepted Answer

A)   profit margin by selling area in square feet.
B)   gross profit by selling area in square feet.
C)   total sales by selling area in square feet.
D)   return on investment by selling area in square feet.
E)   net sales by selling area in square feet.F) B) and D)
G) B) and C)

Question 9

Consumers often use the prices of ________ items, such as a can of Coke, to form an overall impression of the store's prices.

Accepted Answer

A)   benchmark
B)   stoplight
C)   point-of-purchase
D)   value-based
E)   loss-leaderF) A) and D)
G) A) and C)

Question 10

Figure 13-4
-Figure 13-4 above shows the wheel of retailing, which indicates that retail outlets typically go through changes with the passage of time, starting at Box A. What characteristics in the wheel of retailing does B represent?

Accepted Answer

A)   low prices, low margins, low status.
B)   higher prices, higher margins, and higher status.
C)   low prices, high margins, and high status.
D)   stable prices, low margins, and stable status.
E)   moderate prices, high margins, and high status.F) A) and D)
G) C) and E)

Question 11

Which type of outlet is most likely in its accelerated development stage of the retail life cycle?

Accepted Answer

A)   single-price stores
B)   online retailers
C)   supermarkets
D)   business-district retailers
E)   convenience storesF) B) and E)
G) C) and D)

Question 12

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) C) and D)
G) B) and C)

Question 13

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) None of the above
G) A) and B)

Question 14

The 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)   that 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 less of a markup
D)   at various price points; at the lowest price points possible
E)   that are part of a retailing cooperative; that are part of a wholesaling cooperativeF) A) and D)
G) A) and C)

Question 15

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

Accepted Answer

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

Question 16

Briefly describe the three ways retail outlets can be classified.

Accepted Answer

Retail outlets can be classified in thre...

Question 17

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 E)
G) C) and D)

Question 18

Victoria's Secret, a nationwide chain, carries great depth in women's lingerie, and almost no other products. Victoria's Secret is an example of

Accepted Answer

A)   a limited-line store.
B)   a single-line store.
C)   an intertype outlet.
D)   a general merchandise store.
E)   a scrambled merchandise store.F) C) and E)
G) None of the above

Question 19

Another term for maintained markup is

Accepted Answer

A)   original markup.
B)   maintained markup.
C)   markdown.
D)   gross margin.
E)   net margin.F) A) and B)
G) A) and C)

Question 20

Intermediaries that represent a single producer and are responsible for designing promotional plans, setting prices, determining distribution policies, and making recommendations on product strategy are referred to as

Accepted Answer

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

Exam 13: Retailing and Wholesaling

Figure 13-4 -Figure 13-4 above shows the wheel of retailing, which indicates that retail outlets typically go through changes with the passage of time, starting at Box A. What characteristics in the wheel of retailing does B represent?

Correct Answer
verified

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

Correct Answer
verified

Briefly describe the three ways retail outlets can be classified.

Correct Answer
verified
Retail outlets can be classified in thre...
View Answer

Correct Answer
verified

As a result of legislation, consumers who do not want to receive telephone calls related to company sales efforts can

Correct Answer
verified

The two general types of franchises are

Correct Answer
verified

Which type of outlet is most likely in its accelerated development stage of the retail life cycle?

Correct Answer
verified

Consumers often use the prices of ________ items, such as a can of Coke, to form an overall impression of the store's prices.

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

Intermediaries that represent a single producer and are responsible for designing promotional plans, setting prices, determining distribution policies, and making recommendations on product strategy are referred to as

Correct Answer
verified

Sales per square foot is calculated by dividing

Correct Answer
verified

Victoria's Secret, a nationwide chain, carries great depth in women's lingerie, and almost no other products. Victoria's Secret is an example of

Correct Answer
verified

Direct selling, sometimes called ________, involves direct sales of goods and services to consumers through personal interactions and demonstrations in their home or office.

Correct Answer
verified

Another term for maintained markup is

Correct Answer
verified

The 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

The three key methods of classifying retail operations are

Correct Answer
verified

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

Correct Answer
verified

Another name for a manufacturer's agent is a

Correct Answer
verified

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

Correct Answer
verified

The three commonly used terms to describe levels of service in retailing are

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Figure 13-4 -Figure 13-4 above shows the wheel of retailing, which indicates that retail outlets typically go through changes with the passage of time, starting at Box A. What characteristics in the wheel of retailing does B represent?

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

Briefly describe the three ways retail outlets can be classified.

Correct AnswerverifiedRetail outlets can be classified in thre...View AnswerShow Answer

Correct AnswerverifiedShow Answer

As a result of legislation, consumers who do not want to receive telephone calls related to company sales efforts can

Correct AnswerverifiedShow Answer

The two general types of franchises are

Correct AnswerverifiedShow Answer

Which type of outlet is most likely in its accelerated development stage of the retail life cycle?

Correct AnswerverifiedShow Answer

Consumers often use the prices of ________ items, such as a can of Coke, to form an overall impression of the store's prices.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Intermediaries that represent a single producer and are responsible for designing promotional plans, setting prices, determining distribution policies, and making recommendations on product strategy are referred to as

Correct AnswerverifiedShow Answer

Sales per square foot is calculated by dividing

Correct AnswerverifiedShow Answer

Victoria's Secret, a nationwide chain, carries great depth in women's lingerie, and almost no other products. Victoria's Secret is an example of

Correct AnswerverifiedShow Answer

Direct selling, sometimes called ________, involves direct sales of goods and services to consumers through personal interactions and demonstrations in their home or office.

Correct AnswerverifiedShow Answer

Another term for maintained markup is

Correct AnswerverifiedShow Answer

The 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

The three key methods of classifying retail operations are

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Another name for a manufacturer's agent is a

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

The three commonly used terms to describe levels of service in retailing are

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Retail outlets can be classified in thre...
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

Correct Answer
verified

Correct Answer
verified

The 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

Correct Answer
verified

Correct Answer
verified