Question 1

A(n) ________ does not take title to goods and represents buyers or sellers on a more permanent basis than a broker.

Accepted Answer

A)  full-service wholesaler 
B)  industrial distributor 
C)  agent 
D)  retailer 
E)  cash-and-carry wholesaler 
A)  full-service wholesaler 
B)  industrial distributor 
C)  agent 
D)  retailer 
E)  cash-and-carry wholesaler C

Question 2

________ perform a role similar to that of brokers or agents but are part of the buyer's organization.

Accepted Answer

A)  Truck jobbers 
B)  Merchant wholesalers 
C)  Purchasing officers 
D)  Rack jobbers 
E)  Cash-and-carry wholesalers 
A)  Truck jobbers 
B)  Merchant wholesalers 
C)  Purchasing officers 
D)  Rack jobbers 
E)  Cash-and-carry wholesalers C

Question 3

Many shoppers now check out merchandise in-store and then buy it online. This process is called webrooming.

Accepted Answer

A) True 
 B)False  True

Question 4

What is the most common type of agent wholesaler?

Accepted Answer

A)  wholesale merchant 
B)  industrial distributor 
C)  limited-service wholesaler 
D)  manufacturers' representative 
E)  truck jobber 
A)  wholesale merchant 
B)  industrial distributor 
C)  limited-service wholesaler 
D)  manufacturers' representative 
E)  truck jobber

Question 5

________ are wholesalers who serve grocery and drug retailers, mostly in nonfood items. They price the goods, keep them fresh, set up point-of-purchase displays, and keep inventory records.

Accepted Answer

A)  Purchasing agents 
B)  Rack jobbers 
C)  Drop shippers 
D)  Cash-and-carry wholesalers 
E)  Manufacturers' agents 
A)  Purchasing agents 
B)  Rack jobbers 
C)  Drop shippers 
D)  Cash-and-carry wholesalers 
E)  Manufacturers' agents

Question 6

Big and Tall Men's Shop carries men's clothing in larger sizes; this allows the store to ________ other stores.

Accepted Answer

A)  align itself with 
B)  differentiate itself from 
C)  cluster with 
D)  affect the store atmosphere of 
E)  converge with 
A)  align itself with 
B)  differentiate itself from 
C)  cluster with 
D)  affect the store atmosphere of 
E)  converge with

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

Franchises constitute only a small portion of all retail sales in the United States.

Accepted Answer

A) True 
 B)False

Question 9

Retailers first must position themselves in a market and then decide how they will define the target customers in these markets.

Accepted Answer

A) True 
 B)False

Question 10

Like retailers, wholesalers must decide on product and service assortments, prices, promotion, and place.

Accepted Answer

A) True 
 B)False

Question 11

Retail convergence means lower competition for retailers and lower difficulty in differentiating the product assortments of different types of retailers.

Accepted Answer

A) True 
 B)False

Question 12

Why would a producer use wholesalers rather than sell directly to retailers or consumers?

Accepted Answer

Wholesalers add value by performing one

Question 13

At JCPenney, a mid-level department store, customers shop for moderately priced products and they are assisted in some phases of the shopping process. JCPenney is a ________.

Accepted Answer

A)  full-service retailer 
B)  limited-service retailer 
C)  self-service retailer 
D)  specialty store 
E)  superstore 
A)  full-service retailer 
B)  limited-service retailer 
C)  self-service retailer 
D)  specialty store 
E)  superstore

Question 14

Press conferences, speeches, store openings, special events, newsletters, and store magazines are examples of ________ activities used by retailers to promote themselves.

Accepted Answer

A)  public relations 
B)  sales promotions 
C)  personal selling 
D)  affinity marketing 
E)  social marketing 
A)  public relations 
B)  sales promotions 
C)  personal selling 
D)  affinity marketing 
E)  social marketing

Question 15

Today's large, 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)  investing less money in expensive machinery 
D)  reducing their markup rates 
E)  reducing promotional activities 
A)  relocating to low-rent, low-tax areas 
B)  investing in information technology systems 
C)  investing less money in expensive machinery 
D)  reducing their markup rates 
E)  reducing promotional activities

Question 16

What constitutes retail convergence?

Accepted Answer

Retail convergence is the coming togethe

Question 17

Which of the following is most likely gained by stores that cluster together?

Accepted Answer

A)  decreased competition 
B)  increased customer pulling power 
C)  compliance with franchise agreements 
D)  creation of retailer cooperatives 
E)  standardization of the service mix 
A)  decreased competition 
B)  increased customer pulling power 
C)  compliance with franchise agreements 
D)  creation of retailer cooperatives 
E)  standardization of the service mix

Question 18

________ are a type of limited-service wholesaler who does not carry inventory or handle a product. They typically operate in bulk industries, such as coal, lumber, and heavy equipment.

Accepted Answer

A)  Wholesale merchants 
B)  Industrial distributors 
C)  Cash-and-carry wholesalers 
D)  Rack jobbers 
E)  Drop shippers 
A)  Wholesale merchants 
B)  Industrial distributors 
C)  Cash-and-carry wholesalers 
D)  Rack jobbers 
E)  Drop shippers

Question 19

Many retailers are now experimenting with limited-time shops that allow them to promote their brands to seasonal shoppers and create buzz in busy areas. Which of the following terms best represents such shops?

Accepted Answer

A)  power centers 
B)  strip malls 
C)  pop-up stores 
D)  category killers 
E)  lifestyle centers 
A)  power centers 
B)  strip malls 
C)  pop-up stores 
D)  category killers 
E)  lifestyle centers

Question 20

Describe the differences between chain stores and franchises.

Accepted Answer

Chain stores consist of two or more outl

A(n) ________ does not take title to goods and represents buyers or sellers on a more permanent basis than a broker.

________ perform a role similar to that of brokers or agents but are part of the buyer's organization.

Many shoppers now check out merchandise in-store and then buy it online. This process is called webrooming.

What is the most common type of agent wholesaler?

________ are wholesalers who serve grocery and drug retailers, mostly in nonfood items. They price the goods, keep them fresh, set up point-of-purchase displays, and keep inventory records.

Big and Tall Men's Shop carries men's clothing in larger sizes; this allows the store to ________ other stores.

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

Franchises constitute only a small portion of all retail sales in the United States.

Retailers first must position themselves in a market and then decide how they will define the target customers in these markets.

Like retailers, wholesalers must decide on product and service assortments, prices, promotion, and place.

Retail convergence means lower competition for retailers and lower difficulty in differentiating the product assortments of different types of retailers.

Why would a producer use wholesalers rather than sell directly to retailers or consumers?

At JCPenney, a mid-level department store, customers shop for moderately priced products and they are assisted in some phases of the shopping process. JCPenney is a ________.

Press conferences, speeches, store openings, special events, newsletters, and store magazines are examples of ________ activities used by retailers to promote themselves.

Today's large, progressive wholesalers have successfully reacted to rising costs by ________.

What constitutes retail convergence?

Which of the following is most likely gained by stores that cluster together?

________ are a type of limited-service wholesaler who does not carry inventory or handle a product. They typically operate in bulk industries, such as coal, lumber, and heavy equipment.

Many retailers are now experimenting with limited-time shops that allow them to promote their brands to seasonal shoppers and create buzz in busy areas. Which of the following terms best represents such shops?

Describe the differences between chain stores and franchises.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 13: Retailing and Wholesaling

A(n) ________ does not take title to goods and represents buyers or sellers on a more permanent basis than a broker.

________ perform a role similar to that of brokers or agents but are part of the buyer's organization.

Many shoppers now check out merchandise in-store and then buy it online. This process is called webrooming.

What is the most common type of agent wholesaler?

________ are wholesalers who serve grocery and drug retailers, mostly in nonfood items. They price the goods, keep them fresh, set up point-of-purchase displays, and keep inventory records.

Big and Tall Men's Shop carries men's clothing in larger sizes; this allows the store to ________ other stores.

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

Franchises constitute only a small portion of all retail sales in the United States.

Retailers first must position themselves in a market and then decide how they will define the target customers in these markets.

Like retailers, wholesalers must decide on product and service assortments, prices, promotion, and place.

Retail convergence means lower competition for retailers and lower difficulty in differentiating the product assortments of different types of retailers.

Why would a producer use wholesalers rather than sell directly to retailers or consumers?

At JCPenney, a mid-level department store, customers shop for moderately priced products and they are assisted in some phases of the shopping process. JCPenney is a ________.

Press conferences, speeches, store openings, special events, newsletters, and store magazines are examples of ________ activities used by retailers to promote themselves.

Today's large, progressive wholesalers have successfully reacted to rising costs by ________.

What constitutes retail convergence?

Which of the following is most likely gained by stores that cluster together?

________ are a type of limited-service wholesaler who does not carry inventory or handle a product. They typically operate in bulk industries, such as coal, lumber, and heavy equipment.

Many retailers are now experimenting with limited-time shops that allow them to promote their brands to seasonal shoppers and create buzz in busy areas. Which of the following terms best represents such shops?

Describe the differences between chain stores and franchises.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters