Question 1

According to the text,today's large and progressive wholesalers have successfully reacted to rising costs by ________.

Accepted Answer

A)  relocating to low-rent, low-tax areas 
B)  investing in information technology systems 
C)  eliminating the need for brokers and agents 
D)  increasing customer service responsibilities 
E)  reducing promotional and personal selling activities 
A)  relocating to low-rent, low-tax areas 
B)  investing in information technology systems 
C)  eliminating the need for brokers and agents 
D)  increasing customer service responsibilities 
E)  reducing promotional and personal selling activities

Question 2

When compared to merchant wholesalers,brokers and agents ________.

Accepted Answer

A)  perform greater functions 
B)  do not take title to goods 
C)  deal only in services and not products 
D)  do not engage in any negotiation of wholesale deals 
E)  rarely specialize in one product category or customer type 
A)  perform greater functions 
B)  do not take title to goods 
C)  deal only in services and not products 
D)  do not engage in any negotiation of wholesale deals 
E)  rarely specialize in one product category or customer type

Question 3

PennyLane Retailers believe in a do-it-yourself approach,and their stores are designed for consumers who are willing to perform their own locate-compare-select process.PennyLane is an example of a full-service retailer.

Accepted Answer

A) True 
 B)False

Question 4

Dina loves branded apparel and accessories but cannot afford to buy them too often.Fortunately,Dina lives close to an off-price retail store that is owned and operated by a famous brand.The company utilizes this store to sell its surplus,discontinued,or irregular goods at significantly lower costs.The retail store is best referred to as a ________.

Accepted Answer

A)  category killer 
B)  factory outlet 
C)  specialty store 
D)  superstore 
E)  power center 
A)  category killer 
B)  factory outlet 
C)  specialty store 
D)  superstore 
E)  power center

Question 5

Which of the following is a type of off-price retailer?

Accepted Answer

A)  specialty store 
B)  full-service retailer 
C)  discount store 
D)  warehouse club 
E)  supermarket 
A)  specialty store 
B)  full-service retailer 
C)  discount store 
D)  warehouse club 
E)  supermarket

Question 6

________ are off-price retailers that operate in huge facilities offering few frills but ultra-low prices and surprise deals on selected branded merchandise.

Accepted Answer

A)  Warehouse clubs 
B)  Department stores 
C)  Convenience stores 
D)  Specialty stores 
E)  Superstores 
A)  Warehouse clubs 
B)  Department stores 
C)  Convenience stores 
D)  Specialty stores 
E)  Superstores

Question 7

Describe the promotion tools used by retailers.

Accepted Answer

Retailers use any or all of the five pro

Question 8

A majority of shoppers who buy products at traditional stores first check them out online.

Accepted Answer

A) True 
 B)False

Question 9

For a retailer to be able to differentiate from competitors and match target shoppers' expectations,the retailer's product assortment should most likely be ________.

Accepted Answer

A)  identical to the product assortment offered by competitors 
B)  devoid of any blockbuster goods since they distract most consumers 
C)  targeted at all consumers in the global market irrespective of local needs 
D)  constituted by national brands on which the store holds exclusive rights 
E)  devoid of any seconds, overstocks, and closeouts that damage the retailer's image 
A)  identical to the product assortment offered by competitors 
B)  devoid of any blockbuster goods since they distract most consumers 
C)  targeted at all consumers in the global market irrespective of local needs 
D)  constituted by national brands on which the store holds exclusive rights 
E)  devoid of any seconds, overstocks, and closeouts that damage the retailer's image

Question 10

Explain how wholesalers add value for a producer.

Accepted Answer

Wholesalers add value by performing one

Question 11

JP Wholesalers is one of the largest wholesalers of wooden furnishings in the country.Recently,the company opened a chain of stores called JP Designer Homes that has become popular due to the good reputation the company has as a wholesaler.The company has now started acquiring smaller retail chains and consolidating its position in the market.Which of the following trends is reflected in this scenario?

Accepted Answer

A)  the shift toward self-service retailing 
B)  the decline of superstores and megastores 
C)  the decline of the voluntary chain distribution method 
D)  the rise of franchise organizations and joint partnerships 
E)  the blurring of distinctions between retailers and wholesalers 
A)  the shift toward self-service retailing 
B)  the decline of superstores and megastores 
C)  the decline of the voluntary chain distribution method 
D)  the rise of franchise organizations and joint partnerships 
E)  the blurring of distinctions between retailers and wholesalers

Question 12

Amex Retail,the country's largest and oldest retail chain,was recently recognized as one of the most influential companies in the U.S.The company aims to capitalize on this opportunity by implementing major marketing activities to capture the attention of consumers,politicians,and environmentalists.The company was one of the first to do away with plastic bags,and the public relations division is contemplating the adoption of additional green retailing practices.Would this move reflect sound business tactics? What other measures can Amex Retail take in this direction?

Accepted Answer

(Students' answers may vary.The answer g

Question 13

Which contractual system is distinguished by the fact that it is normally based on some unique product or service?

Accepted Answer

A)  voluntary chain 
B)  retailer cooperative 
C)  franchise 
D)  corporate chain 
E)  warehouse club 
A)  voluntary chain 
B)  retailer cooperative 
C)  franchise 
D)  corporate chain 
E)  warehouse club

Question 14

Campbell is one of the oldest retailers in the country.While the service offered at Campbell is fairly mediocre,the retailer is famous for its surprise offerings of seconds,overstocks,and closeouts-occasionally including expensive gadgets and jewelry.Posco,a new chain of retail stores,offers products that are similar to Campbell's offerings; however,Posco is known for encouraging customers to ask questions and for providing service representatives to assist customers in the purchasing decision process.From this scenario,which of the following statements is most likely true?

Accepted Answer

A)  Posco fails to differentiate itself from Campbell through the services mix. 
B)  Posco's product assortment helps differentiate it from Campbell. 
C)  Both Campbell and Posco fail to identify the needs and wants of target markets. 
D)  Campbell has not been able to differentiate itself on the basis of product assortment. 
E)  Posco better utilizes the services mix to differentiate itself from Campbell. 
A)  Posco fails to differentiate itself from Campbell through the services mix. 
B)  Posco's product assortment helps differentiate it from Campbell. 
C)  Both Campbell and Posco fail to identify the needs and wants of target markets. 
D)  Campbell has not been able to differentiate itself on the basis of product assortment. 
E)  Posco better utilizes the services mix to differentiate itself from Campbell.

Question 15

Shopper marketing involves focusing the entire marketing process-from product and brand development to logistics,promotion,and merchandising-toward turning shoppers into buyers at the point of sale.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following statements is true of retailing?

Accepted Answer

A)  All retail stores are full-service retail stores. 
B)  A department store has a narrow product line with a deep assortment. 
C)  The largest type of retail outlet is a supermarket. 
D)  Services like hotels, banks, airlines, restaurants, colleges, and hospitals can be retailed. 
E)  A feature common to all types of retail stores is the use of the everyday low pricing strategy. 
A)  All retail stores are full-service retail stores. 
B)  A department store has a narrow product line with a deep assortment. 
C)  The largest type of retail outlet is a supermarket. 
D)  Services like hotels, banks, airlines, restaurants, colleges, and hospitals can be retailed. 
E)  A feature common to all types of retail stores is the use of the everyday low pricing strategy.

Question 17

Off-price retailers can be found in all areas,from food,clothing,and electronics to no-frills banking and discount brokerages.

Accepted Answer

A) True 
 B)False

Question 18

Wholesalers absorb risk by taking title and bearing the cost of theft,damage,spoilage,and obsolescence.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is true about trends in wholesaling?

Accepted Answer

A)  New laws prevent wholesalers from having their own retailing operations. 
B)  Value-added customer relationships have been replaced by control systems. 
C)  Merchant wholesalers are decreasing in number and relevance. 
D)  The demand for lower prices and higher quality has increased. 
E)  Bulk breaking is increasingly popular and necessary. 
A)  New laws prevent wholesalers from having their own retailing operations. 
B)  Value-added customer relationships have been replaced by control systems. 
C)  Merchant wholesalers are decreasing in number and relevance. 
D)  The demand for lower prices and higher quality has increased. 
E)  Bulk breaking is increasingly popular and necessary.

Question 20

A ________ is a small open-air mall with upscale stores,convenient locations,and nonretail activities such as a playground,dining establishments,and a movie theater.

Accepted Answer

A)  regional shopping center 
B)  lifestyle center 
C)  community shopping center 
D)  power center 
E)  warehouse club 
A)  regional shopping center 
B)  lifestyle center 
C)  community shopping center 
D)  power center 
E)  warehouse club

According to the text,today's large and progressive wholesalers have successfully reacted to rising costs by ________.

When compared to merchant wholesalers,brokers and agents ________.

PennyLane Retailers believe in a do-it-yourself approach,and their stores are designed for consumers who are willing to perform their own locate-compare-select process.PennyLane is an example of a full-service retailer.

Which of the following is a type of off-price retailer?

________ are off-price retailers that operate in huge facilities offering few frills but ultra-low prices and surprise deals on selected branded merchandise.

Describe the promotion tools used by retailers.

A majority of shoppers who buy products at traditional stores first check them out online.

For a retailer to be able to differentiate from competitors and match target shoppers' expectations,the retailer's product assortment should most likely be ________.

Explain how wholesalers add value for a producer.

Which contractual system is distinguished by the fact that it is normally based on some unique product or service?

Shopper marketing involves focusing the entire marketing process-from product and brand development to logistics,promotion,and merchandising-toward turning shoppers into buyers at the point of sale.

Which of the following statements is true of retailing?

Off-price retailers can be found in all areas,from food,clothing,and electronics to no-frills banking and discount brokerages.

Wholesalers absorb risk by taking title and bearing the cost of theft,damage,spoilage,and obsolescence.

Which of the following is true about trends in wholesaling?

A ________ is a small open-air mall with upscale stores,convenient locations,and nonretail activities such as a playground,dining establishments,and a movie theater.

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products,Services,and Brands: Building Customer Value

New Product Development and Product Life Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Social Responsibility and Ethics

Filters

Exam 11: Retailing and Wholesaling

According to the text,today's large and progressive wholesalers have successfully reacted to rising costs by ________.

When compared to merchant wholesalers,brokers and agents ________.

PennyLane Retailers believe in a do-it-yourself approach,and their stores are designed for consumers who are willing to perform their own locate-compare-select process.PennyLane is an example of a full-service retailer.

Which of the following is a type of off-price retailer?

________ are off-price retailers that operate in huge facilities offering few frills but ultra-low prices and surprise deals on selected branded merchandise.

Describe the promotion tools used by retailers.

A majority of shoppers who buy products at traditional stores first check them out online.

For a retailer to be able to differentiate from competitors and match target shoppers' expectations,the retailer's product assortment should most likely be ________.

Explain how wholesalers add value for a producer.

Which contractual system is distinguished by the fact that it is normally based on some unique product or service?

Shopper marketing involves focusing the entire marketing process-from product and brand development to logistics,promotion,and merchandising-toward turning shoppers into buyers at the point of sale.

Which of the following statements is true of retailing?

Off-price retailers can be found in all areas,from food,clothing,and electronics to no-frills banking and discount brokerages.

Wholesalers absorb risk by taking title and bearing the cost of theft,damage,spoilage,and obsolescence.

Which of the following is true about trends in wholesaling?

A ________ is a small open-air mall with upscale stores,convenient locations,and nonretail activities such as a playground,dining establishments,and a movie theater.

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products,Services,and Brands: Building Customer Value

New Product Development and Product Life Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Social Responsibility and Ethics

Filters