Question 1

Rack jobbers refer to wholesalers who

Accepted Answer

A)  furnish the shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.
B)  own the merchandise they sell and have retailers store it in their warehouses.
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) D) and E)
G) A) and B)

Question 2

The degree of service provided to the customer from three types of retailers: self-, limited-, and full-service.This retail classification is referred to as _________.

Accepted Answer

A)  involvement
B)  level of service
C)  service commitment
D)  customer obligation
E)  degree of commitmentF) D) and E)
G) A) and D)

Question 3

Independently owned stores that band together to act like a chain is referred to as _________.

Accepted Answer

A)  franchises
B)  corporate chains
C)  contractual systems
D)  operative marketing systems
E)  regional shopping centersF) A) and B)
G) None of the above

Question 4

Increased postal rates, increases in the number of specialty catalogs targeted to market niches, and the increases in the number of traditional retailers who have added catalogs operations have resulted in

Accepted Answer

A)  a switch to online catalogs and direct customer e-mail advertisements.
B)  a focus on proven customers rather than on prospective customers.
C)  the use of thinner lightweight paper products.
D)  the banning of non-personal mail by a growing number of environmentally concerned communities.
E)  a resurgence in non-automated telemarketing.F) All of the above
G) None of the above

Question 5

The West Edmonton Mall in Alberta, Canada is a conglomerate of more than 800 stores, 21 movie theaters, the world's largest indoor amusement park, 110 restaurants, and a 354-room Fantasyland hotel.It is a perfect example of a(n)  _________.

Accepted Answer

A)  urban megacenter
B)  regional shopping center
C)  megaplex
D)  hyperstore
E)  hypermarketF) D) and E)
G) A) and E)

Question 6

Franchising is a type of _________.

Accepted Answer

A)  administered system
B)  contractual system
C)  corporate system
D)  vertically integrated chain
E)  retail-sponsored cooperativeF) None of the above
G) A) and E)

Question 7

There are two general types of franchises: business-format franchises and __________ franchises.

Accepted Answer

A)  product-format
B)  general service
C)  manufacturing
D)  distribution
E)  ventureF) A) and B)
G) A) and C)

Question 8

Briefly describe the three levels of service offered in retail outlets.

Accepted Answer

Retail outlets generally offer three lev...

Question 9

FIGURE 14-1 
-Subway (see image in Figure 14.1 above)  is a popular _________.

Accepted Answer

A)  business-format franchises
B)  product-distribution franchises
C)  business franchise venture
D)  manufacturing franchises
E)  general service franchiseF) A) and B)
G) None of the above

Question 10

A Woman's Place is a retail store, created and staffed by women, that offers products and services relating to maternity needs.In addition, for expectant mothers it offers advice, 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)  exclusive service
B)  product-service
C)  full-service
D)  full-domain
E)  limited-domainF) A) and B)
G) A) and C)

Question 11

One of the best-run banks in the United States, Wells Fargo reaches retail customers through 3,339 branch banks, 561 in-store mini banks, a worldwide network of 6,960 ATMs, and its online banking service.The online service has millions of users.Which utility does Wells Fargo best provide in this example?

Accepted Answer

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

Question 12

An indicator of how effectively retail space is used to generate revenue is a common financial indicator called

Accepted Answer

A)  net sales
B)  shareholders' equity
C)  market share
D)  sales per square foot
E)  return on investmentF) C) and D)
G) B) and C)

Question 13

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)  selling agents
D)  distribution brokers
E)  manufacturer's agentsF) C) and D)
G) B) and E)

Question 14

What future changes may be expected in retailing?

Accepted Answer

Retailers in the future are likely to co...

Question 15

Nordstrom Rack and Off 5th allow retailers to sell excess merchandise at __________ and still maintain an image of offering merchandise at full price in their primary stores.

Accepted Answer

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

Question 16

The oldest retail setting, usually located in the community's downtown area, is referred to as

Accepted Answer

A)  the central business district.
B)  main street.
C)  community anchor.
D)  heritage center.
E)  historical commerce district.F) C) and E)
G) A) and C)

Question 17

A common financial indicator of how effectively retail space is used to generate revenue can be calculated by determining _________.

Accepted Answer

A)  net sales
B)  shareholders' equity
C)  market share
D)  sales per square foot
E)  return on investmentF) A) and B)
G) A) and E)

Question 18

Coal, lumber, and chemicals, which are sold in extremely large quantities are traditionally sold by which type of wholesaler?

Accepted Answer

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

Question 19

Which of the following statements regarding corporate chains is most accurate?

Accepted Answer

A)  Corporate chains are multiple outlets under common ownership.
B)  Corporate chains usually avoid using centralized decision making.
C)  Corporate chains generally own most if not all of their suppliers so they do not have to negotiate for price.
D)  Consumers have fewer choices in merchandise since all buying decisions are made unilaterally.
E)  Corporate chains offer the least benefit to consumers since they are the farthest removed from the ultimate consumer.F) B) and C)
G) A) and D)

Question 20

One way neighborhood grocers can take advantage of volume discounts commonly available to chains is to

Accepted Answer

A)  purchase a franchise membership.
B)  become a subsidiary of a larger chain.
C)  join a professional merchant association and hire legal counsel.
D)  create a grocery networking system to exchange coupon vouchers.
E)  participate in a retailer-sponsored cooperative with other independent grocers.F) B) and C)
G) C) and D)

Exam 14: Retailing and Wholesaling

Coal, lumber, and chemicals, which are sold in extremely large quantities are traditionally sold by which type of wholesaler?

Correct Answer
verified

Increased postal rates, increases in the number of specialty catalogs targeted to market niches, and the increases in the number of traditional retailers who have added catalogs operations have resulted in

Correct Answer
verified

Correct Answer
verified

FIGURE 14-1 -Subway (see image in Figure 14.1 above) is a popular _________.

Correct Answer
verified

What future changes may be expected in retailing?

Correct Answer
verified
Retailers in the future are likely to co...
View Answer

Independently owned stores that band together to act like a chain is referred to as _________.

Correct Answer
verified

Nordstrom Rack and Off 5th allow retailers to sell excess merchandise at __________ and still maintain an image of offering merchandise at full price in their primary stores.

Correct Answer
verified

There are two general types of franchises: business-format franchises and __________ franchises.

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

The oldest retail setting, usually located in the community's downtown area, is referred to as

Correct Answer
verified

A common financial indicator of how effectively retail space is used to generate revenue can be calculated by determining _________.

Correct Answer
verified

Rack jobbers refer to wholesalers who

Correct Answer
verified

The degree of service provided to the customer from three types of retailers: self-, limited-, and full-service.This retail classification is referred to as _________.

Correct Answer
verified

An indicator of how effectively retail space is used to generate revenue is a common financial indicator called

Correct Answer
verified

The West Edmonton Mall in Alberta, Canada is a conglomerate of more than 800 stores, 21 movie theaters, the world's largest indoor amusement park, 110 restaurants, and a 354-room Fantasyland hotel.It is a perfect example of a(n) _________.

Correct Answer
verified

Briefly describe the three levels of service offered in retail outlets.

Correct Answer
verified
Retail outlets generally offer three lev...
View Answer

Which of the following statements regarding corporate chains is most accurate?

Correct Answer
verified

Franchising is a type of _________.

Correct Answer
verified

One way neighborhood grocers can take advantage of volume discounts commonly available to chains is to

Correct Answer
verified

Correct Answer
verified

Exam 14: Retailing and Wholesaling

Coal, lumber, and chemicals, which are sold in extremely large quantities are traditionally sold by which type of wholesaler?

Correct AnswerverifiedShow Answer

Increased postal rates, increases in the number of specialty catalogs targeted to market niches, and the increases in the number of traditional retailers who have added catalogs operations have resulted in

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

FIGURE 14-1 -Subway (see image in Figure 14.1 above) is a popular _________.

Correct AnswerverifiedShow Answer

What future changes may be expected in retailing?

Correct AnswerverifiedRetailers in the future are likely to co...View AnswerShow Answer

Independently owned stores that band together to act like a chain is referred to as _________.

Correct AnswerverifiedShow Answer

Nordstrom Rack and Off 5th allow retailers to sell excess merchandise at __________ and still maintain an image of offering merchandise at full price in their primary stores.

Correct AnswerverifiedShow Answer

There are two general types of franchises: business-format franchises and __________ franchises.

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

The oldest retail setting, usually located in the community's downtown area, is referred to as

Correct AnswerverifiedShow Answer

A common financial indicator of how effectively retail space is used to generate revenue can be calculated by determining _________.

Correct AnswerverifiedShow Answer

Rack jobbers refer to wholesalers who

Correct AnswerverifiedShow Answer

The degree of service provided to the customer from three types of retailers: self-, limited-, and full-service.This retail classification is referred to as _________.

Correct AnswerverifiedShow Answer

An indicator of how effectively retail space is used to generate revenue is a common financial indicator called

Correct AnswerverifiedShow Answer

The West Edmonton Mall in Alberta, Canada is a conglomerate of more than 800 stores, 21 movie theaters, the world's largest indoor amusement park, 110 restaurants, and a 354-room Fantasyland hotel.It is a perfect example of a(n) _________.

Correct AnswerverifiedShow Answer

Briefly describe the three levels of service offered in retail outlets.

Correct AnswerverifiedRetail outlets generally offer three lev...View AnswerShow Answer

Which of the following statements regarding corporate chains is most accurate?

Correct AnswerverifiedShow Answer

Franchising is a type of _________.

Correct AnswerverifiedShow Answer

One way neighborhood grocers can take advantage of volume discounts commonly available to chains is to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Retailers in the future are likely to co...
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
Retail outlets generally offer three lev...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified