Question 1

Emphasizing consistently low prices and eliminating most markdowns or sales is referred to as a(n)  __________ strategy.

Accepted Answer

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

Question 2

Manufacturer's agents refers to agents who

Accepted Answer

A)  furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.
B)  take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for merchandise.
C)  own the merchandise they sell but do not physically handle, stock, or deliver it.
D)  have a small warehouse from which they stock their trucks for distribution to retailers.
E)  work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.F) B) and D)
G) C) and D)

Question 3

Saturn dealers have adopted a "no-hassle, no-haggle" sales policy that eliminates the need for negotiating.Instead, all customers are offered the same price.Test drives, financing, trade-ins, and leasing are all offered to encourage customers to purchase a Saturn.Which utility does Saturn best provide in this example?

Accepted Answer

A)  product
B)  form
C)  convenience
D)  service
E)  possessionF) A) and E)
G) C) and E)

Question 4

The level of service that requires that the customers perform many functions and little is provided by the outlet is _________.

Accepted Answer

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

Question 5

Loblaws, a Canadian supermarket, features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix, this tactic is related to _________.

Accepted Answer

A)  merchandise
B)  the communications mix
C)  discounts and allowances
D)  variety and assortment
E)  the physical distribution mixF) B) and E)
G) A) and B)

Question 6

Hosiery, toys, and health and beauty items are traditionally sold by which type of wholesaler?

Accepted Answer

A)  drop shippers
B)  rack jobbers
C)  truck jobbers
D)  general merchandise wholesalers
E)  cash and carry wholesalersF) D) and E)
G) A) and B)

Question 7

Which type of the following firms has made the wisest wholesaler choice for its product?

Accepted Answer

A)  Fiona's Floral used a truck jobber for its cut roses.
B)  Hannah's Hardware used a rack jobber for its hammers.
C)  Sam's Streamliners used a truck jobber for its subway cars.
D)  Shayna's Superior Supplies used a desk jobber for its staplers.
E)  Josh's Jackhammers used a rack jobber for its hard hats.F) A) and D)
G) A) and E)

Question 8

The process of growth and decline that retail outlets, like products, experience which consists of the early growth, accelerated development, maturity, and decline stages, is referred to as

Accepted Answer

A)  retail life cycle.
B)  wheel of retailing.
C)  strip center life cycle.
D)  retail continuum.
E)  retail evolution.F) C) and E)
G) A) and E)

Question 9

Organizations that decide to franchise (franchisors)  have __________ expansion costs in opening new outlets accompanied by __________ control compared to owning their own retail outlets.

Accepted Answer

A)  greater; greater
B)  greater; reduced
C)  reduced; greater
D)  reduced; reduced
E)  greater; about the sameF) B) and C)
G) B) and D)

Question 10

A regional bakery makes organic breads and muffins.It feels the choice of distribution channel is critical to the product's success, especially since it wants to have the product distributed nationally.However, it will take some time before sales take off, and it wants to make sure the marketing program is consistent everywhere.It should use

Accepted Answer

A)  its own salesforce to sell directly to retailers.
B)  the services of a selling agent to sell to general merchandise wholesalers who will sell to retailers.
C)  a dual distribution system composed of both direct and indirect wholesalers.
D)  a rack jobber who will sell to a merchant wholesaler and who will in turn sell to retailers.
E)  manufacturers' agents to sell to truck jobbers who in turn will deal with retailers.F) A) and C)
G) C) and D)

Question 11

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

Accepted Answer

A)  decline
B)  maturity
C)  introduction
D)  early growth
E)  accelerated developmentF) A) and E)
G) C) and D)

Question 12

Originally, filters for Mr.Coffee electric-drip coffee makers were sold through appliance and mass merchandise stores.If the company decided to sell the filters in grocery stores where customers purchased their coffee, what type of intermediaries would the company most likely have hired?

Accepted Answer

A)  full-line wholesaler
B)  drop shippers
C)  truck jobbers
D)  manufacturers reps
E)  food brokersF) A) and B)
G) A) and C)

Question 13

The four major types of limited-service merchant wholesalers are cash and carry wholesalers, drop shippers, truck jobbers and _________.

Accepted Answer

A)  rack jobbers
B)  machine vendors
C)  credit line wholesalers
D)  transport vendors
E)  container transport vendorsF) B) and E)
G) A) and B)

Question 14

Figure 14-9 
-According to Figure 14-9 above, cell "1" represents the stage in the wheel of retailing when there are

Accepted Answer

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

Question 15

Using Figure 14-9 as a guide, complete the diagram by completing the information for Cells 1 through to 4 to explain how the wheel of retailing works.

Accepted Answer

The wheel of retailing describes how new...

Question 16

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)  hypermarkets
E)  intertype competitionF) C) and D)
G) B) and C)

Question 17

Consumer marketing at retail (CMAR)  includes conducting research, analyzing the data to identify shopper problems, translating the data into retailing mix actions, executing shopper-friendly in-store programs, and

Accepted Answer

A)  monitoring the performance of the merchandise.
B)  creating new training measures for their employees.
C)  initiating incentive programs for employee performance.
D)  identifying new market niches.
E)  communicating with other retailers with similar missions.F) B) and D)
G) B) and C)

Question 18

A channel intermediary that does not carry inventory, typically performs sales function, and is an alternative to agents and brokers is referred to as a _________.

Accepted Answer

A)  brokering agent
B)  cash and carry wholesalers
C)  manufacturer's sales office
D)  manufacturer's branches office
E)  merchant wholesalersF) B) and E)
G) A) and B)

Question 19

"Black Friday" originally, referred to

Accepted Answer

A)  the day your salary exceeds the taxes owed and the remaining salary becomes "your own."
B)  the first time the stock market dropped by more than ten percent (it occurred on a Friday, hence its name) .
C)  the first time the stock market crashed (it occurred on a Friday, hence its name) .
D)  an accounting term used to suggest when retailers finally became profitable.
E)  the first time Friday's post-Thanksgiving sales failed to meet projected levels.F) A) and E)
G) A) and C)

Question 20

Which type of utility is created by online shopping?

Accepted Answer

A)  time
B)  place
C)  form
D)  product
E)  possessionF) A) and D)
G) A) and C)

Exam 14: Retailing and Wholesaling

Manufacturer's agents refers to agents who

Correct Answer
verified

The level of service that requires that the customers perform many functions and little is provided by the outlet is _________.

Correct Answer
verified

"Black Friday" originally, referred to

Correct Answer
verified

Which type of utility is created by online shopping?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Hosiery, toys, and health and beauty items are traditionally sold by which type of wholesaler?

Correct Answer
verified

The four major types of limited-service merchant wholesalers are cash and carry wholesalers, drop shippers, truck jobbers and _________.

Correct Answer
verified

The process of growth and decline that retail outlets, like products, experience which consists of the early growth, accelerated development, maturity, and decline stages, is referred to as

Correct Answer
verified

Figure 14-9 -According to Figure 14-9 above, cell "1" represents the stage in the wheel of retailing when there are

Correct Answer
verified

Using Figure 14-9 as a guide, complete the diagram by completing the information for Cells 1 through to 4 to explain how the wheel of retailing works.

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

Which type of the following firms has made the wisest wholesaler choice for its product?

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

Originally, filters for Mr.Coffee electric-drip coffee makers were sold through appliance and mass merchandise stores.If the company decided to sell the filters in grocery stores where customers purchased their coffee, what type of intermediaries would the company most likely have hired?

Correct Answer
verified

A channel intermediary that does not carry inventory, typically performs sales function, and is an alternative to agents and brokers is referred to as a _________.

Correct Answer
verified

Consumer marketing at retail (CMAR) includes conducting research, analyzing the data to identify shopper problems, translating the data into retailing mix actions, executing shopper-friendly in-store programs, and

Correct Answer
verified

Loblaws, a Canadian supermarket, features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix, this tactic is related to _________.

Correct Answer
verified

Emphasizing consistently low prices and eliminating most markdowns or sales is referred to as a(n) __________ strategy.

Correct Answer
verified

Organizations that decide to franchise (franchisors) have expansion costs in opening new outlets accompanied by control compared to owning their own retail outlets.

Correct Answer
verified

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

Correct Answer
verified

Exam 14: Retailing and Wholesaling

Manufacturer's agents refers to agents who

Correct AnswerverifiedShow Answer

The level of service that requires that the customers perform many functions and little is provided by the outlet is _________.

Correct AnswerverifiedShow Answer

"Black Friday" originally, referred to

Correct AnswerverifiedShow Answer

Which type of utility is created by online shopping?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Hosiery, toys, and health and beauty items are traditionally sold by which type of wholesaler?

Correct AnswerverifiedShow Answer

The four major types of limited-service merchant wholesalers are cash and carry wholesalers, drop shippers, truck jobbers and _________.

Correct AnswerverifiedShow Answer

The process of growth and decline that retail outlets, like products, experience which consists of the early growth, accelerated development, maturity, and decline stages, is referred to as

Correct AnswerverifiedShow Answer

Figure 14-9 -According to Figure 14-9 above, cell "1" represents the stage in the wheel of retailing when there are

Correct AnswerverifiedShow Answer

Using Figure 14-9 as a guide, complete the diagram by completing the information for Cells 1 through to 4 to explain how the wheel of retailing works.

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

Which type of the following firms has made the wisest wholesaler choice for its product?

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

Originally, filters for Mr.Coffee electric-drip coffee makers were sold through appliance and mass merchandise stores.If the company decided to sell the filters in grocery stores where customers purchased their coffee, what type of intermediaries would the company most likely have hired?

Correct AnswerverifiedShow Answer

A channel intermediary that does not carry inventory, typically performs sales function, and is an alternative to agents and brokers is referred to as a _________.

Correct AnswerverifiedShow Answer

Consumer marketing at retail (CMAR) includes conducting research, analyzing the data to identify shopper problems, translating the data into retailing mix actions, executing shopper-friendly in-store programs, and

Correct AnswerverifiedShow Answer

Loblaws, a Canadian supermarket, features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix, this tactic is related to _________.

Correct AnswerverifiedShow Answer

Emphasizing consistently low prices and eliminating most markdowns or sales is referred to as a(n) __________ strategy.

Correct AnswerverifiedShow Answer

Organizations that decide to franchise (franchisors) have __________ expansion costs in opening new outlets accompanied by __________ control compared to owning their own retail outlets.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Organizations that decide to franchise (franchisors) have expansion costs in opening new outlets accompanied by control compared to owning their own retail outlets.

Correct Answer
verified

Correct Answer
verified