Question 1

The retailer's product assortment should be distinguishable and also match target shoppers' expectations.

Accepted Answer

A) True 
 B)False

Question 2

Barry's is a chain of retail stores that stocks a large variety of goods and practices high-low pricing.This means that Barry's is likely to ________.

Accepted Answer

A)  have low volume and low markups 
B)  charge low prices constantly 
C)  offer numerous sales or discounts 
D)  compete on the basis of price rather than product or service quality 
E)  use predatory pricing to eliminate competition 
A)  have low volume and low markups 
B)  charge low prices constantly 
C)  offer numerous sales or discounts 
D)  compete on the basis of price rather than product or service quality 
E)  use predatory pricing to eliminate competition

Question 3

Department stores are most likely characterized by ________.

Accepted Answer

A)  narrow product lines 
B)  specialty goods and services 
C)  predatory pricing strategies 
D)  deep assortments of luxury brands 
E)  wide varieties of product lines 
A)  narrow product lines 
B)  specialty goods and services 
C)  predatory pricing strategies 
D)  deep assortments of luxury brands 
E)  wide varieties of product lines

Question 4

Specialty stores are characterized by ________.

Accepted Answer

A)  the sale of convenience and staple items 
B)  narrow product lines with deep assortments 
C)  a wide range of products and categories 
D)  low prices on a wide range of goods 
E)  routinely purchased food products and services 
A)  the sale of convenience and staple items 
B)  narrow product lines with deep assortments 
C)  a wide range of products and categories 
D)  low prices on a wide range of goods 
E)  routinely purchased food products and services

Question 5

Which type of retailer typically carries deep product assortments of narrow product lines?

Accepted Answer

A)  self-service retailers 
B)  specialty stores 
C)  warehouse clubs 
D)  discount stores 
E)  factory outlets 
A)  self-service retailers 
B)  specialty stores 
C)  warehouse clubs 
D)  discount stores 
E)  factory outlets

Question 6

A convenience store ________.

Accepted Answer

A)  markets to segments comprised mostly of white-collar workers 
B)  stocks narrow product lines that have wide, deep assortments 
C)  carries a limited line of high-turnover goods for consumer self-service 
D)  involves high operation costs due to full-service customer assistance 
E)  is a multi-channel food and discount retailer that targets niche markets 
A)  markets to segments comprised mostly of white-collar workers 
B)  stocks narrow product lines that have wide, deep assortments 
C)  carries a limited line of high-turnover goods for consumer self-service 
D)  involves high operation costs due to full-service customer assistance 
E)  is a multi-channel food and discount retailer that targets niche markets

Question 7

Which types of stores are characterized by specialty goods for which customers need assistance and higher operating costs that are passed along to customers as higher prices?

Accepted Answer

A)  self-service stores 
B)  convenience stores 
C)  full-service stores 
D)  discount stores 
E)  off-price stores 
A)  self-service stores 
B)  convenience stores 
C)  full-service stores 
D)  discount stores 
E)  off-price stores

Question 8

Voluntary chains are normally based on one unique product or a specific trade name.

Accepted Answer

A) True 
 B)False

Question 9

The Toby's chain of first-class department stores carries a wide range of product lines,including clothing,jewelry,kitchenware,and home furnishings.Toby's typically charge higher prices on an everyday basis and then holds frequent sales and price promotions to increase store traffic.Toby's most likely uses ________.

Accepted Answer

A)  self-service retailing 
B)  experiential retailing 
C)  high-low pricing 
D)  everyday low pricing 
E)  franchise retailing 
A)  self-service retailing 
B)  experiential retailing 
C)  high-low pricing 
D)  everyday low pricing 
E)  franchise retailing

Question 10

Which of the following channel functions of wholesalers is demonstrated when a buyer receives quicker delivery because wholesalers are located closer than are producers?

Accepted Answer

A)  buying and assortment building 
B)  financing 
C)  transportation 
D)  risk bearing 
E)  warehousing 
A)  buying and assortment building 
B)  financing 
C)  transportation 
D)  risk bearing 
E)  warehousing

Question 11

The rise of megaretailers has shifted the balance of power between retailers and producers.Since megaretailers have access to numerous consumers,they have significant power when dealing with manufacturers.

Accepted Answer

A) True 
 B)False

Question 12

Venture Zone,a hiking and climbing equipment retailer,has a rock climbing wall inside the store so that consumers can test products prior to purchase.Venture Zone most likely differentiates itself from its competitors through ________.

Accepted Answer

A)  everyday low pricing 
B)  predatory pricing 
C)  self-service retailing 
D)  experiential retailing 
E)  franchising 
A)  everyday low pricing 
B)  predatory pricing 
C)  self-service retailing 
D)  experiential retailing 
E)  franchising

Question 13

Wholesalers most likely discourage less-profitable customers by ________.

Accepted Answer

A)  increasing product promotions 
B)  carrying exclusive product lines 
C)  overseeing inventory control systems 
D)  adding service charges to small purchase orders 
E)  requiring smaller orders to lower transportation costs 
A)  increasing product promotions 
B)  carrying exclusive product lines 
C)  overseeing inventory control systems 
D)  adding service charges to small purchase orders 
E)  requiring smaller orders to lower transportation costs

Question 14

In a retailer cooperative,independent retailers band together to set up a jointly owned,central wholesale operation and conduct joint merchandising and promotion efforts.

Accepted Answer

A) True 
 B)False

Question 15

Describe the differences between discount stores and off-price retailers.

Accepted Answer

A discount store sells standard merchand

Question 16

In an automated warehouse,orders are fed directly from the retailer's information system into the wholesaler's,and the items are picked up by mechanical devices and taken to a shipping platform where they are assembled.

Accepted Answer

A) True 
 B)False

Question 17

Independent off-price retailers purchase merchandise at rates that are substantially higher than regular wholesale rates.

Accepted Answer

A) True 
 B)False

Question 18

Retailers cannot make consistent decisions about product assortment and pricing until they define and profile their markets.

Accepted Answer

A) True 
 B)False

Question 19

Three types of shopping centers are regional shopping centers,community shopping centers,and neighborhood shopping centers or strip malls.Describe how they differ from each other.

Accepted Answer

Regional shopping centers are the larges

Question 20

Brokers and agents usually take title to goods and perform various functions for retailers.

Accepted Answer

A) True 
 B)False

The retailer's product assortment should be distinguishable and also match target shoppers' expectations.

Barry's is a chain of retail stores that stocks a large variety of goods and practices high-low pricing.This means that Barry's is likely to ________.

Department stores are most likely characterized by ________.

Specialty stores are characterized by ________.

Which type of retailer typically carries deep product assortments of narrow product lines?

A convenience store ________.

Which types of stores are characterized by specialty goods for which customers need assistance and higher operating costs that are passed along to customers as higher prices?

Voluntary chains are normally based on one unique product or a specific trade name.

Which of the following channel functions of wholesalers is demonstrated when a buyer receives quicker delivery because wholesalers are located closer than are producers?

The rise of megaretailers has shifted the balance of power between retailers and producers.Since megaretailers have access to numerous consumers,they have significant power when dealing with manufacturers.

Venture Zone,a hiking and climbing equipment retailer,has a rock climbing wall inside the store so that consumers can test products prior to purchase.Venture Zone most likely differentiates itself from its competitors through ________.

Wholesalers most likely discourage less-profitable customers by ________.

In a retailer cooperative,independent retailers band together to set up a jointly owned,central wholesale operation and conduct joint merchandising and promotion efforts.

Describe the differences between discount stores and off-price retailers.

In an automated warehouse,orders are fed directly from the retailer's information system into the wholesaler's,and the items are picked up by mechanical devices and taken to a shipping platform where they are assembled.

Independent off-price retailers purchase merchandise at rates that are substantially higher than regular wholesale rates.

Retailers cannot make consistent decisions about product assortment and pricing until they define and profile their markets.

Three types of shopping centers are regional shopping centers,community shopping centers,and neighborhood shopping centers or strip malls.Describe how they differ from each other.

Brokers and agents usually take title to goods and perform various functions for retailers.

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

The retailer's product assortment should be distinguishable and also match target shoppers' expectations.

Barry's is a chain of retail stores that stocks a large variety of goods and practices high-low pricing.This means that Barry's is likely to ________.

Department stores are most likely characterized by ________.

Specialty stores are characterized by ________.

Which type of retailer typically carries deep product assortments of narrow product lines?

A convenience store ________.

Which types of stores are characterized by specialty goods for which customers need assistance and higher operating costs that are passed along to customers as higher prices?

Voluntary chains are normally based on one unique product or a specific trade name.

Which of the following channel functions of wholesalers is demonstrated when a buyer receives quicker delivery because wholesalers are located closer than are producers?

The rise of megaretailers has shifted the balance of power between retailers and producers.Since megaretailers have access to numerous consumers,they have significant power when dealing with manufacturers.

Venture Zone,a hiking and climbing equipment retailer,has a rock climbing wall inside the store so that consumers can test products prior to purchase.Venture Zone most likely differentiates itself from its competitors through ________.

Wholesalers most likely discourage less-profitable customers by ________.

In a retailer cooperative,independent retailers band together to set up a jointly owned,central wholesale operation and conduct joint merchandising and promotion efforts.

Describe the differences between discount stores and off-price retailers.

In an automated warehouse,orders are fed directly from the retailer's information system into the wholesaler's,and the items are picked up by mechanical devices and taken to a shipping platform where they are assembled.

Independent off-price retailers purchase merchandise at rates that are substantially higher than regular wholesale rates.

Retailers cannot make consistent decisions about product assortment and pricing until they define and profile their markets.

Three types of shopping centers are regional shopping centers,community shopping centers,and neighborhood shopping centers or strip malls.Describe how they differ from each other.

Brokers and agents usually take title to goods and perform various functions for retailers.

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