Question 1

________ offer an inconsistent assortment of brand-name merchandise at a significant discount off the manufacturers' suggested retail price.

Accepted Answer

A)  Off-price retailers 
B)  Department stores 
C)  Discount retailers 
D)  Convenience stores 
E)  Specialty retailers 
A)  Off-price retailers 
B)  Department stores 
C)  Discount retailers 
D)  Convenience stores 
E)  Specialty retailers A

Question 2

What can department stores do to differentiate their merchandise offering and strengthen their image?

Accepted Answer

A)  Increase their pricing 
B)  Decrease the variety and assortment of merchandise within the store 
C)  Seek exclusive arrangements with nationally recognized brands 
D)  Merge with faltering retailers to gain their market share 
E)  Sell only hard goods 
A)  Increase their pricing 
B)  Decrease the variety and assortment of merchandise within the store 
C)  Seek exclusive arrangements with nationally recognized brands 
D)  Merge with faltering retailers to gain their market share 
E)  Sell only hard goods C

Question 3

Private-label brands benefit retailers but not customers.

Accepted Answer

A) True 
 B)False  False

Question 4

Off-price retailers will often sell merchandise for less than the MSRP, which means

Accepted Answer

A)  the merchandise sales are profitable. 
B)  the merchandise is sold below the suggested retail price. 
C)  the merchandise is sold below the suggested realized profit. 
D)  the merchandise is sold less than the surrounding retail competitors. 
E)  the merchandise sold by them are always closeouts. 
A)  the merchandise sales are profitable. 
B)  the merchandise is sold below the suggested retail price. 
C)  the merchandise is sold below the suggested realized profit. 
D)  the merchandise is sold less than the surrounding retail competitors. 
E)  the merchandise sold by them are always closeouts.

Question 5

Which of the following is a third-tier department store?

Accepted Answer

A)  Macy's 
B)  Neiman Marcus 
C)  TJ Maxx 
D)  Nordstrom 
E)  JCPenney 
A)  Macy's 
B)  Neiman Marcus 
C)  TJ Maxx 
D)  Nordstrom 
E)  JCPenney

Question 6

A special type of resale store where merchandise is donated and proceeds go to charity is called a(n)

Accepted Answer

A)  extreme-value retailer. 
B)  thrift store. 
C)  consignment shop. 
D)  dollar store. 
E)  supercenter. 
A)  extreme-value retailer. 
B)  thrift store. 
C)  consignment shop. 
D)  dollar store. 
E)  supercenter.

Question 7

Which of the following statements is True about warehouse clubs?

Accepted Answer

A)  Warehouse clubs carry a broad variety and deep assortment of merchandise. 
B)  Warehouse clubs are small and typically located in high-rent districts. 
C)  Warehouse clubs typically have low inventory holding costs. 
D)  Warehouse clubs offer extensive customer service. 
E)  Warehouse clubs offer its fast-selling items at high prices. 
A)  Warehouse clubs carry a broad variety and deep assortment of merchandise. 
B)  Warehouse clubs are small and typically located in high-rent districts. 
C)  Warehouse clubs typically have low inventory holding costs. 
D)  Warehouse clubs offer extensive customer service. 
E)  Warehouse clubs offer its fast-selling items at high prices.

Question 8

The ________ focuses on reducing the carbon footprint caused by the transportation of food throughout the world.

Accepted Answer

A)  core insight plan 
B)  locavore movement 
C)  sustainable agriculture act 
D)  limited liabilities act 
E)  non-compete clause 
A)  core insight plan 
B)  locavore movement 
C)  sustainable agriculture act 
D)  limited liabilities act 
E)  non-compete clause

Question 9

Which of the following is a similarity between hypermarkets and supercenters?

Accepted Answer

A)  Both are common in the United States. 
B)  Both offer self-service. 
C)  Both carry a negotiable percentage of nonfood items. 
D)  Both avoid the sale of perishables. 
E)  Both lack parking facilities for customers. 
A)  Both are common in the United States. 
B)  Both offer self-service. 
C)  Both carry a negotiable percentage of nonfood items. 
D)  Both avoid the sale of perishables. 
E)  Both lack parking facilities for customers.

Question 10

Which of the following is True of off-price retailers?

Accepted Answer

A)  They offer a consistent assortment of soft goods at low prices. 
B)  They sell brand-name merchandise at reduced prices. 
C)  They offer gift registries. 
D)  They require suppliers to give them a variety of advertising allowances and markdown discounts. 
E)  They sell designer-label merchandise at 20 to 60 percent higher than the manufacturer's suggested retail price. 
A)  They offer a consistent assortment of soft goods at low prices. 
B)  They sell brand-name merchandise at reduced prices. 
C)  They offer gift registries. 
D)  They require suppliers to give them a variety of advertising allowances and markdown discounts. 
E)  They sell designer-label merchandise at 20 to 60 percent higher than the manufacturer's suggested retail price.

Question 11

Which of the following is a first-tier department store?

Accepted Answer

A)  Macy's 
B)  Nordstrom 
C)  Sears 
D)  Kohl's 
E)  JCPenney 
A)  Macy's 
B)  Nordstrom 
C)  Sears 
D)  Kohl's 
E)  JCPenney

Question 12

Because the only merchandise categories at the University Futon Shop are double-sized futons, the Futon Shop can be said to have no

Accepted Answer

A)  inventory control. 
B)  need for customer service. 
C)  variety. 
D)  irregularity 
E)  product depth. 
A)  inventory control. 
B)  need for customer service. 
C)  variety. 
D)  irregularity 
E)  product depth.

Question 13

Purchasing from factories that pay workers a living wage (more than the minimum wage) and offer other benefits to the employees is called

Accepted Answer

A)  a closeout. 
B)  power perimeter. 
C)  cash wrap. 
D)  flash sale. 
E)  fair trade. 
A)  a closeout. 
B)  power perimeter. 
C)  cash wrap. 
D)  flash sale. 
E)  fair trade.

Question 14

What type of retail store is Dollar General considered to be?

Accepted Answer

A)  Off-price retailer 
B)  Department store 
C)  Full-line discount store 
D)  Extreme-value retailer 
E)  Specialty retailer 
A)  Off-price retailer 
B)  Department store 
C)  Full-line discount store 
D)  Extreme-value retailer 
E)  Specialty retailer

Question 15

Discuss how off-price retailers opportunistically obtain their merchandise and the different types of merchandise found at off-price retailers.

Accepted Answer

Off-price retailers are able to sell bra

Question 16

Walmart is classified as an off-price retailer.

Accepted Answer

A) True 
 B)False

Question 17

The drugstore industry has seen a decrease in their annual sales mainly due to

Accepted Answer

A)  higher prices on prescription drugs. 
B)  pharmacies in full-line discount stores. 
C)  the aging population. 
D)  government regulations on pharmaceutical sales. 
E)  the wide assortment of merchandise they sell 
A)  higher prices on prescription drugs. 
B)  pharmacies in full-line discount stores. 
C)  the aging population. 
D)  government regulations on pharmaceutical sales. 
E)  the wide assortment of merchandise they sell

Question 18

Assortment is the number of different merchandise categories a retailer offers, also known as the breadth of merchandise.

Accepted Answer

A) True 
 B)False

Question 19

Convenience stores ________ than supermarkets.

Accepted Answer

A)  make customers wait in a long checkout line 
B)  avoid selling lower profit products 
C)  offer a broad variety and deep assortment of merchandise 
D)  offer self-service to its customers 
E)  charge higher prices for similar products sold 
A)  make customers wait in a long checkout line 
B)  avoid selling lower profit products 
C)  offer a broad variety and deep assortment of merchandise 
D)  offer self-service to its customers 
E)  charge higher prices for similar products sold

Question 20

What type of retailer is Meijer considered to be?

Accepted Answer

A)  Supercenter 
B)  Department store 
C)  Full-line discount store 
D)  Drugstore 
E)  Category specialist 
A)  Supercenter 
B)  Department store 
C)  Full-line discount store 
D)  Drugstore 
E)  Category specialist

________ offer an inconsistent assortment of brand-name merchandise at a significant discount off the manufacturers' suggested retail price.

What can department stores do to differentiate their merchandise offering and strengthen their image?

Private-label brands benefit retailers but not customers.

Off-price retailers will often sell merchandise for less than the MSRP, which means

Which of the following is a third-tier department store?

A special type of resale store where merchandise is donated and proceeds go to charity is called a(n)

Which of the following statements is True about warehouse clubs?

The ________ focuses on reducing the carbon footprint caused by the transportation of food throughout the world.

Which of the following is a similarity between hypermarkets and supercenters?

Which of the following is True of off-price retailers?

Which of the following is a first-tier department store?

Because the only merchandise categories at the University Futon Shop are double-sized futons, the Futon Shop can be said to have no

Purchasing from factories that pay workers a living wage (more than the minimum wage) and offer other benefits to the employees is called

What type of retail store is Dollar General considered to be?

Discuss how off-price retailers opportunistically obtain their merchandise and the different types of merchandise found at off-price retailers.

Walmart is classified as an off-price retailer.

The drugstore industry has seen a decrease in their annual sales mainly due to

Assortment is the number of different merchandise categories a retailer offers, also known as the breadth of merchandise.

Convenience stores ________ than supermarkets.

What type of retailer is Meijer considered to be?

Introduction to the World of Retailing

Multichannel and Omnichannel Retailing

Customer Buying Behavior

Retail Market Strategy

Financial Strategy

Retail Locations

Retail Site Location

Information Systems and Supply Chain Management

Customer Relationship Management

Managing the Merchandise Planning Process

Buying Merchandise

Retail Pricing

Retail Communication Mix

Human Resources and Managing the Store

Store Layout, Design, and Visual Merchandising

Customer Service

Filters

Exam 2: Types of Retailers

________ offer an inconsistent assortment of brand-name merchandise at a significant discount off the manufacturers' suggested retail price.

What can department stores do to differentiate their merchandise offering and strengthen their image?

Private-label brands benefit retailers but not customers.

Off-price retailers will often sell merchandise for less than the MSRP, which means

Which of the following is a third-tier department store?

A special type of resale store where merchandise is donated and proceeds go to charity is called a(n)

Which of the following statements is True about warehouse clubs?

The ________ focuses on reducing the carbon footprint caused by the transportation of food throughout the world.

Which of the following is a similarity between hypermarkets and supercenters?

Which of the following is True of off-price retailers?

Which of the following is a first-tier department store?

Because the only merchandise categories at the University Futon Shop are double-sized futons, the Futon Shop can be said to have no

Purchasing from factories that pay workers a living wage (more than the minimum wage) and offer other benefits to the employees is called

What type of retail store is Dollar General considered to be?

Discuss how off-price retailers opportunistically obtain their merchandise and the different types of merchandise found at off-price retailers.

Walmart is classified as an off-price retailer.

The drugstore industry has seen a decrease in their annual sales mainly due to

Assortment is the number of different merchandise categories a retailer offers, also known as the breadth of merchandise.

Convenience stores ________ than supermarkets.

What type of retailer is Meijer considered to be?

Introduction to the World of Retailing

Multichannel and Omnichannel Retailing

Customer Buying Behavior

Retail Market Strategy

Financial Strategy

Retail Locations

Retail Site Location

Information Systems and Supply Chain Management

Customer Relationship Management

Managing the Merchandise Planning Process

Buying Merchandise

Retail Pricing

Retail Communication Mix

Human Resources and Managing the Store

Store Layout, Design, and Visual Merchandising

Customer Service

Filters