Question 1

Outside the United States,large retailers include ________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Accepted Answer

A)  Aeon
B)  Toshei
C)  Seebi
D)  Goshen
E)  Toshi

Question 2

Shrinkage in retailing refers to

Accepted Answer

A)  the declining number of small privately owned retail stores due to economic hard times.
B)  breakage,theft,and fraud by customers and employees.
C)  the percentage of inventory that is damaged or unsalable because of product failure.
D)  the loss of profits in clothing items that are returned because of inferior materials.
E)  polycarbonate packaging that encases products with a tamper-resistant plastic seal.

Question 3

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

Accepted Answer

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

Question 4

Most of the 3.7 million retail establishments in the United States,including hardware stores,convenience stores,clothing stores,and electronics stores,are considered

Accepted Answer

A)  corporate chains.
B)  contractual systems.
C)  independent retailers.
D)  conglomerates.
E)  multinationals.

Question 5

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.

Question 6

Explain the difference between a hypermarket and a supercenter.

Accepted Answer

The hypermarket is a form of scrambled m...

Question 7

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)  25

Question 8

Large shopping areas often contain two or three ________ stores,which are well-known national or regional stores such as Nordstrom,Saks Fifth Avenue,and Bloomingdale's.

Accepted Answer

A)  power
B)  mega
C)  anchor
D)  value
E)  Outlet

Question 9

CarMax dealers have adopted a "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 car.Which utility does CarMax best provide?

Accepted Answer

A)  product
B)  form
C)  convenience
D)  service
E)  possession

Question 10

Growth in the direct-selling industry is the result of two trends: direct-selling retailers are expanding into markets outside the United States,and

Accepted Answer

A)  increased gas prices and traffic congestion are causing people to want the store to deliver the products to them.
B)  the pendulum is beginning to swing back to more mothers (and fathers) staying home during the day with children,making direct selling more convenient.
C)  the cost of purchasing or leasing real estate to build an actual "brick" retail store is becoming prohibitive.
D)  graduating business students are finding it more difficult to find a traditional sales position and like the idea of being their own bosses.
E)  some consumers prefer one-on-one customer service and a social shopping experience rather than online shopping or big discount stores.

Question 11

The sales of products and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as

Accepted Answer

A)  direct selling.
B)  person-to-person sales.
C)  face-to-face selling.
D)  direct-response selling.
E)  customized selling.

Question 12

Williams-Sonoma is a specialty store that caters to customers who like to cook at home.It offers free cooking classes,has frequent demonstrations by cookbook authors,and has employees who are knowledgeable about food preparation.The sales staff helps customers make their selections.Williams-Sonoma is a(n) ________ retailer.

Accepted Answer

A)   exclusive-service
B)   full-service
C)   upscale-service
D)   self-service
E)   limited-service

Question 13

By selling franchises,an organization ________ the cost of expansion and ________ its control compared to owning its own retail outlets.

Accepted Answer

A)  increases;increases
B)  increases;reduces
C)  reduces;increases
D)  increases;retains almost all
E)  reduces;reduces

Question 14

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

Accepted Answer

A)  single-price stores
B)  value retail centers
C)  online retailers
D)  business-district retailers
E)  convenience stores

Question 15

Outlets where customers are responsible for most shopping activities,although salespeople are available in some departments,would be classified as ________ retail outlets.

Accepted Answer

A)  limited-service
B)  exclusive-service
C)  minimal-service
D)  self-service
E)  full-service

Question 16

The ________ provided by retailers create value for consumers.

Accepted Answer

A)  utilities
B)  wholesaling functions
C)  outsourcing functions
D)  profits
E)  synergies

Question 17

Not every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores usually

Accepted Answer

A)  is unplanned.
B)  includes national anchor stores.
C)  is restricted to privately owned specialty stores.
D)  is mainly fast-food restaurants.
E)  includes amusement or theme parks,or movie theaters.

Question 18

Scrambled merchandising refers to

Accepted Answer

A)  displaying merchandise throughout a store rather than keeping all similar items together in rows on a shelf or point-of-purchase displays.
B)  offering several unrelated product lines in a single store.
C)  changing the position in which items are displayed in a store to create customer interest in a variety of product lines.
D)  offering several related product lines in multiple stores.
E)  offering several related product lines in a single store.

Question 19

Vending machines are no longer limited by the need for cash.In Japan,South Korea,and the Philippines,consumers use mobile phones that transmit payments to vending machines wirelessly.This is an example of how vending machines can provide which type of utility?

Accepted Answer

A)  time
B)  place
C)  possession
D)  product
E)  form

Question 20

Independent retailers account for most of the ________ retail establishments in the United States.

Accepted Answer

A)  50,000
B)  90,000
C)  900,000
D)  1) 8 million
E)  3) 7 million

Exam 16: Retailing and Wholesaling

The sales of products and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as

Correct Answer
verified

Outlets where customers are responsible for most shopping activities,although salespeople are available in some departments,would be classified as ________ retail outlets.

Correct Answer
verified

Not every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores usually

Correct Answer
verified

Independent retailers account for most of the ________ retail establishments in the United States.

Correct Answer
verified

Outside the United States,large retailers include ________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Correct Answer
verified

Large shopping areas often contain two or three ________ stores,which are well-known national or regional stores such as Nordstrom,Saks Fifth Avenue,and Bloomingdale's.

Correct Answer
verified

CarMax dealers have adopted a "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 car.Which utility does CarMax best provide?

Correct Answer
verified

Growth in the direct-selling industry is the result of two trends: direct-selling retailers are expanding into markets outside the United States,and

Correct Answer
verified

Vending machines are no longer limited by the need for cash.In Japan,South Korea,and the Philippines,consumers use mobile phones that transmit payments to vending machines wirelessly.This is an example of how vending machines can provide which type of utility?

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

The ________ provided by retailers create value for consumers.

Correct Answer
verified

Explain the difference between a hypermarket and a supercenter.

Correct Answer
verified
The hypermarket is a form of scrambled m...
View Answer

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

Correct Answer
verified

Shrinkage in retailing refers to

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

By selling franchises,an organization the cost of expansion and its control compared to owning its own retail outlets.

Correct Answer
verified

Most of the 3.7 million retail establishments in the United States,including hardware stores,convenience stores,clothing stores,and electronics stores,are considered

Correct Answer
verified

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

Correct Answer
verified

Scrambled merchandising refers to

Correct Answer
verified

Exam 16: Retailing and Wholesaling

The sales of products and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as

Correct AnswerverifiedShow Answer

Outlets where customers are responsible for most shopping activities,although salespeople are available in some departments,would be classified as ________ retail outlets.

Correct AnswerverifiedShow Answer

Not every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores usually

Correct AnswerverifiedShow Answer

Independent retailers account for most of the ________ retail establishments in the United States.

Correct AnswerverifiedShow Answer

Outside the United States,large retailers include ________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Correct AnswerverifiedShow Answer

Large shopping areas often contain two or three ________ stores,which are well-known national or regional stores such as Nordstrom,Saks Fifth Avenue,and Bloomingdale's.

Correct AnswerverifiedShow Answer

CarMax dealers have adopted a "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 car.Which utility does CarMax best provide?

Correct AnswerverifiedShow Answer

Growth in the direct-selling industry is the result of two trends: direct-selling retailers are expanding into markets outside the United States,and

Correct AnswerverifiedShow Answer

Vending machines are no longer limited by the need for cash.In Japan,South Korea,and the Philippines,consumers use mobile phones that transmit payments to vending machines wirelessly.This is an example of how vending machines can provide which type of utility?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The ________ provided by retailers create value for consumers.

Correct AnswerverifiedShow Answer

Explain the difference between a hypermarket and a supercenter.

Correct AnswerverifiedThe hypermarket is a form of scrambled m...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Shrinkage in retailing refers to

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

By selling franchises,an organization ________ the cost of expansion and ________ its control compared to owning its own retail outlets.

Correct AnswerverifiedShow Answer

Most of the 3.7 million retail establishments in the United States,including hardware stores,convenience stores,clothing stores,and electronics stores,are considered

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Scrambled merchandising refers to

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The hypermarket is a form of scrambled m...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

By selling franchises,an organization the cost of expansion and its control compared to owning its own retail outlets.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified