Question 1

Name the four utilities offered by retailers and identify a retailer that provides that utility.

Accepted Answer

The answer of Name the four utilities offered by retailers...

Question 2

Merchant wholesalers are independently owned firms that __________ the merchandise they handle.

Accepted Answer

A)  take title to 
B)  broker 
C)  act as agents for 
D)  break bulk and repackage 
E)  do not deliver

Question 3

The wholesalers that perform all channel functions and are found in the health foods,automotive parts,and seafood industries would be

Accepted Answer

A)  specialty wholesalers. 
B)  full-line wholesalers. 
C)  limited wholesalers. 
D)  universal wholesalers. 
E)  cash and carry wholesalers.

Question 4

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)  limited service 
C)  self-service 
D)  restricted service 
E)  functional service

Question 5

The three commonly used terms to describe levels of service in retailing are

Accepted Answer

A)  self-service, limited-service, and full-service. 
B)  retailer-service, sales-service, and customer-service. 
C)  self-service, automated-service, and online-service. 
D)  limited-service, full-service, and automated-service. 
E)  wholesaler-service, retailer-service, and customer-service.

Question 6

Four of the 40 largest businesses in the United States are retailers-Walmart,Costco,Home Depot,and

Accepted Answer

A)  Sears. 
B)  Target. 
C)  Best Buy. 
D)  JC Penney. 
E)  Bloomingdale's.

Question 7

The marketing metrics related to a retailer's products or merchandise include all of the following except which?

Accepted Answer

A)  the cost of carrying inventory 
B)  the inventory turnover 
C)  the average number of items per transaction 
D)  the number of returns 
E)  the average length of a store visit

Question 8

Nordstrom stores typically have 50 percent more salespeople on the floor than other retailers with stores of similar sizes.Its salespeople are renowned for their professional and personalized attention to customers.Nordstrom would be considered

Accepted Answer

A)  an exclusive-service retailer. 
B)  a limited-service retailer. 
C)  a full-service retailer. 
D)  an upscale retailer. 
E)  a limited-domain retailer.

Question 9

Sales of goods and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as direct selling,or

Accepted Answer

A)  person-to-person sales. 
B)  interactive selling. 
C)  door-to-door retailing. 
D)  individual promotion. 
E)  customized selling.

Question 10

The music played in the grocery store has a slow tempo to get shoppers to stay longer and hopefully put more items in their cart.Music is part of the grocery store's

Accepted Answer

A)  atmosphere. 
B)  sensory management plan. 
C)  psychological attributes. 
D)  personality type. 
E)  sociological profile.

Question 11

Nike offers shoes for men,women,and children in many sizes and widths.It offers running,cross training,walking,golf,and other types of shoes.This is an example of the __________ that Nike offers to its customers through its own stores or other retailers such as Foot Locker.

Accepted Answer

A)  product items 
B)  depth of product line 
C)  breadth of product line 
D)  versatility of product family 
E)  variety of product mix

Question 12

A huge shopping strip with multiple anchor (or national)stores is referred to as a

Accepted Answer

A)  central business district. 
B)  regional shopping center. 
C)  community shopping center. 
D)  strip mall. 
E)  power center.

Question 13

General merchandise stores such as Walmart,Kmart,and Target are usually considered __________ retailers.

Accepted Answer

A)  exclusive-service 
B)  minimal-service 
C)  self-service 
D)  full-service 
E)  limited-service

Question 14

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 5- to 10-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.

Question 15

In the past,television home shopping programs have attracted mostly

Accepted Answer

A)  18- to 34-year-old men. 
B)  25- to 45-year-old women. 
C)  35- to 50-year-old men. 
D)  40- to 60-year-old women. 
E)  12- to 17-year-old boys.

Question 16

As a business format franchisor,McDonald's provides to the franchisee step-by-step procedures for most aspects of the business and

Accepted Answer

A)  an easy resale mechanism back to the franchisor. 
B)  guaranteed access to competent suppliers and interested customers. 
C)  complete maintenance the property. 
D)  guidelines for the most likely decisions a franchisee will face. 
E)  discipline for dishonest employees.

Question 17

Briefly describe the two general types of franchises.

Accepted Answer

The answer of Briefly describe the two general types of...

Question 18

Briefly describe the three levels of service offered by retail outlets.

Accepted Answer

The answer of Briefly describe the three levels of service...

Question 19

T.J.Maxx,where prices are low but selection is unpredictable,uses __________ pricing practice.

Accepted Answer

A)  a markdown 
B)  a maintained markup 
C)  a gross margin 
D)  a manufactured suggested retail 
E)  an off-price retail

Question 20

A limited-service wholesaler that performs all channel functions and sells on consignment to retailers,which means it retains the title to the products displayed and bills retailers only for the merchandise sold,is a

Accepted Answer

A)  truck jobber. 
B)  transport vendor. 
C)  rack jobber. 
D)  cash and carry wholesaler. 
E)  drop shipper.

Exam 13: Retailing and Wholesaling