Question 1

The central business district refers to

Accepted Answer

A)  a suburban mall that contains up to 100 stores and draws customer from 5 to 10 miles away.
B)  the oldest retailing setting, located in a community's downtown area.
C)  a retail location that typically has one primary store and about 20 to 40 smaller outlets, and serves a population base of about 100,000.
D)  a cluster of stores that serves people who are within a five- to ten-minute drive and serves a population base of under 30,000.
E)  a collection of large stores over 100,000 square feet that offers a mix of about 40 percent food products and 60 percent general merchandise items.F) C) and E)
G) A) and E)

Question 2

Which method of classifying retail outlets would be most appropriate for describing franchise operations?

Accepted Answer

A)  form of ownership
B)  level of service
C)  merchandise line
D)  method of operation
E)  revenues generatedF) A) and E)
G) B) and E)

Question 3

Many airlines now have terminals that allow you to check yourself in for your flight electronically upon your arrival at the airport. This is an example of what level of service?

Accepted Answer

A)  limited-service
B)  non-service
C)  reduced-service
D)  restricted-service
E)  self-serviceF) B) and D)
G) B) and E)

Question 4

-Apple has approximately what amount of sales per square foot according to the Sales per Square Foot Marketing Dashboard above?

Accepted Answer

A)  $300
B)  $600
C)  $900
D)  $3,500
E)  $5,400F) A) and B)
G) A) and C)

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 outletF) B) and E)
G) A) and B)

Question 6

Most stores today are near several others in one of four settings: the central business district, the regional shopping center, the strip mall, or the __________.

Accepted Answer

A)  rural micromall
B)  urban megacenter
C)  power center
D)  exurb value center
E)  suburban downtownF) A) and B)
G) A) and C)

Question 7

Specialty 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)  offer a relatively narrow range of products but has an extensive assortment within the product lines carried.
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 goods that are distributed to a select number of large retail chains.F) B) and D)
G) C) and D)

Question 8

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

Accepted Answer

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

Question 9

There are three general forms of retail ownership: contractual system, independent retailer, and __________.

Accepted Answer

A)  dual ownership
B)  industry consortium
C)  retailing cooperative
D)  multi-national cartel
E)  corporate chainF) A) and E)
G) D) and E)

Question 10

Kitchen Window is a one-stop treasure trove for cooks. The locally-owned gourmet specialty store carries more than 14,000 items in stock. Its knowledgeable staff offers personalized service that will even gift-wrap your purchases free of charge. It also offers a shop for repairs should your appliances need maintenance. Kitchen Window is a __________ retailer.

Accepted Answer

A)  exclusive-service
B)  premium-service
C)  self-service
D)  limited-service
E)  full-serviceF) A) and B)
G) None of the above

Question 11

A drugstore that sells pharmaceuticals, beauty aids, camera equipment, nonperishable groceries, and small hardware items is an example of a retailer using

Accepted Answer

A)  multiple distribution channels.
B)  full-service.
C)  scrambled merchandising.
D)  intertype competition.
E)  dual channel marketing.F) C) and D)
G) B) and C)

Question 12

-According to Figure 13-4 above, Box A represents the stage in the wheel of retailing when a retail outlet starts with

Accepted Answer

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

Question 13

Godiva Chocolatier invites consumers to stop by one of its stores for an unforgettable experience, including delectable chocolates, decorative gift collections, and unrivaled customer care. What type of retail service is Godiva offering?

Accepted Answer

A)  full-service
B)  exclusive-service
C)  limited-service
D)  self-service
E)  specialty-serviceF) D) and E)
G) A) and D)

Question 14

For what type of contractual system does a parent company provide assistance in selecting the location, setting up the store or facility, advertising, and training personnel?

Accepted Answer

A)  administered system
B)  conglomerate system
C)  franchise system
D)  vertical integrated system
E)  retail-sponsored cooperativeF) B) and D)
G) B) and E)

Question 15

As a franchisor, Radio Shack would assist a franchisee in selecting the store location, setting up the store, advertising, and __________.

Accepted Answer

A)  developing the marketing program
B)  training personnel
C)  offering performance bonuses
D)  ordering and restocking inventory
E)  paying insurance and legal feesF) B) and C)
G) C) and D)

Question 16

One way to assess the importance of retailing to the U.S. and global economies is to measure the

Accepted Answer

A)  price asked for any one item.
B)  cost of goods sold.
C)  net return on capital.
D)  annual sales of retailers.
E)  progress towards eliminating of global boundaries.F) A) and B)
G) None of the above

Question 17

The four major types of limited-service merchant wholesalers are rack jobbers, cash and carry wholesalers, truck jobbers, and __________.

Accepted Answer

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

Question 18

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 D)
G) C) and E)

Question 19

Retailers that advocate an everyday fair pricing strategy may not offer the lowest prices but try to create value for customers using which of these?

Accepted Answer

A)  customer service
B)  product benefits
C)  convenience
D)  perceived quality
E)  maintained priceF) A) and B)
G) C) and D)

Question 20

Wholesalers who have a small warehouse from which they stock their trucks for distribution to retailers are referred to as __________.

Accepted Answer

A)  cash and carry wholesalers
B)  truck jobbers
C)  rack jobbers
D)  drop shippers
E)  manufacturer's representativesF) A) and D)
G) A) and B)

Exam 13: Retailing and Wholesaling

Which method of classifying retail outlets would be most appropriate for describing franchise operations?

Correct Answer
verified

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

Correct Answer
verified

One way to assess the importance of retailing to the U.S. and global economies is to measure the

Correct Answer
verified

For what type of contractual system does a parent company provide assistance in selecting the location, setting up the store or facility, advertising, and training personnel?

Correct Answer
verified

Most stores today are near several others in one of four settings: the central business district, the regional shopping center, the strip mall, or the __________.

Correct Answer
verified

Many airlines now have terminals that allow you to check yourself in for your flight electronically upon your arrival at the airport. This is an example of what level of service?

Correct Answer
verified

Specialty merchandise wholesalers

Correct Answer
verified

Correct Answer
verified

-Apple has approximately what amount of sales per square foot according to the Sales per Square Foot Marketing Dashboard above?

Correct Answer
verified

The central business district refers to

Correct Answer
verified

A drugstore that sells pharmaceuticals, beauty aids, camera equipment, nonperishable groceries, and small hardware items is an example of a retailer using

Correct Answer
verified

Godiva Chocolatier invites consumers to stop by one of its stores for an unforgettable experience, including delectable chocolates, decorative gift collections, and unrivaled customer care. What type of retail service is Godiva offering?

Correct Answer
verified

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

Correct Answer
verified

The four major types of limited-service merchant wholesalers are rack jobbers, cash and carry wholesalers, truck jobbers, and __________.

Correct Answer
verified

Retailers that advocate an everyday fair pricing strategy may not offer the lowest prices but try to create value for customers using which of these?

Correct Answer
verified

As a franchisor, Radio Shack would assist a franchisee in selecting the store location, setting up the store, advertising, and __________.

Correct Answer
verified

There are three general forms of retail ownership: contractual system, independent retailer, and __________.

Correct Answer
verified

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

Correct Answer
verified

-According to Figure 13-4 above, Box A represents the stage in the wheel of retailing when a retail outlet starts with

Correct Answer
verified

Wholesalers who have a small warehouse from which they stock their trucks for distribution to retailers are referred to as __________.

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Which method of classifying retail outlets would be most appropriate for describing franchise operations?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

One way to assess the importance of retailing to the U.S. and global economies is to measure the

Correct AnswerverifiedShow Answer

For what type of contractual system does a parent company provide assistance in selecting the location, setting up the store or facility, advertising, and training personnel?

Correct AnswerverifiedShow Answer

Most stores today are near several others in one of four settings: the central business district, the regional shopping center, the strip mall, or the __________.

Correct AnswerverifiedShow Answer

Many airlines now have terminals that allow you to check yourself in for your flight electronically upon your arrival at the airport. This is an example of what level of service?

Correct AnswerverifiedShow Answer

Specialty merchandise wholesalers

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

-Apple has approximately what amount of sales per square foot according to the Sales per Square Foot Marketing Dashboard above?

Correct AnswerverifiedShow Answer

The central business district refers to

Correct AnswerverifiedShow Answer

A drugstore that sells pharmaceuticals, beauty aids, camera equipment, nonperishable groceries, and small hardware items is an example of a retailer using

Correct AnswerverifiedShow Answer

Godiva Chocolatier invites consumers to stop by one of its stores for an unforgettable experience, including delectable chocolates, decorative gift collections, and unrivaled customer care. What type of retail service is Godiva offering?

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

The four major types of limited-service merchant wholesalers are rack jobbers, cash and carry wholesalers, truck jobbers, and __________.

Correct AnswerverifiedShow Answer

Retailers that advocate an everyday fair pricing strategy may not offer the lowest prices but try to create value for customers using which of these?

Correct AnswerverifiedShow Answer

As a franchisor, Radio Shack would assist a franchisee in selecting the store location, setting up the store, advertising, and __________.

Correct AnswerverifiedShow Answer

There are three general forms of retail ownership: contractual system, independent retailer, and __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

-According to Figure 13-4 above, Box A represents the stage in the wheel of retailing when a retail outlet starts with

Correct AnswerverifiedShow Answer

Wholesalers who have a small warehouse from which they stock their trucks for distribution to retailers are referred to as __________.

Correct AnswerverifiedShow Answer

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