Question 1

The variety of different items a store carries is referred to as the

Accepted Answer

A)  quality of merchandise.
B)  breadth of product line.
C)  breadth of product mix.
D)  depth of product mix.
E)  depth of product line.F) D) and E)
G) A) and B)

Question 2

The retailing mix refers to the activities related to the management of and the merchandise in the store,which includes

Accepted Answer

A)  retail pricing,store location,retail communication,and merchandise.
B)  product,price,promotion,and place.
C)  the utilities of time,form,possession,and price.
D)  the colors,sizes,shapes,and point-of-purchase display locations of the store's products.
E)  selection of store location,selection of merchandise,hiring and training of employees,and promotion of both the store and products.F) C) and D)
G) A) and D)

Question 3

Which type of wholesaler traditionally sells hosiery,toys,and health and beauty items?

Accepted Answer

A)  cash and carry wholesalers
B)  truck jobbers
C)  general merchandise wholesalers
D)  rack jobbers
E)  drop shippersF) All of the above
G) None of the above

Question 4

Retailing refers to all activities involved in the

Accepted Answer

A)  selling,renting,and providing of products and services to ultimate consumers for personal,family,or household use.
B)  selling of tangible products to ultimate consumers for personal,family,or household use.
C)  selling of tangible products to ultimate consumers for personal,household,or industrial use.
D)  selling,renting,leasing,or reselling of products and services to ultimate consumers or small industrial users.
E)  selling,renting,and providing of products and services without retaining the title to these offerings.F) C) and D)
G) A) and B)

Question 5

Explain the relationship between a franchisee and a franchisor.

Accepted Answer

In a franchise system,an individual or f...

Question 6

Selling agents refer to agents who

Accepted Answer

A)  furnish the racks or shelves that display merchandise in retail stores,perform all channel functions,and sell on consignment to retailers.
B)  represent a single producer and are responsible for the entire marketing function of that producer.
C)  work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory.
D)  take title to merchandise but sell only to buyers who call on them,pay cash for merchandise,and furnish their own transportation for the merchandise.
E)  sell primarily large bulky products.F) A) and B)
G) B) and D)

Question 7

A markdown refers to

Accepted Answer

A)  the difference between the final selling price and the retailer's cost.
B)  the amount the manufacturer adds to achieve the desired suggested retail price.
C)  discounting a product when it does not sell at the original price.
D)  the lowest price to which a retailer can reduce a sales ticket and still make a profit.
E)  the net margin.F) A) and B)
G) A) and C)

Question 8

Specialty stores that dominate the market are referred to as __________.

Accepted Answer

A)  hypermarkets
B)  category killers
C)  specialty outlets
D)  regional dominators
E)  general merchandise storesF) B) and C)
G) A) and E)

Question 9

In the telemarketing industry,issues such as consumer privacy,__________,and industry standards have become a topic of discussion among consumers,Congress,the Federal Trade Commission (FTC) ,and businesses.

Accepted Answer

A)  product quality
B)  price differences
C)  ethical guidelines
D)  on-time delivery
E)  competitive anticsF) B) and E)
G) A) and D)

Question 10

Which form of retail outlet would most likely offer customers convenience,quality personal service,and lifestyle compatibility?

Accepted Answer

A)  corporate chain
B)  independent retailer
C)  administered system
D)  contractual system
E)  sole incorporationF) A) and D)
G) B) and E)

Question 11

The wholesalers most prevalent in the hardware,drug,and clothing industries would be __________.

Accepted Answer

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

Question 12

The ___________ is a financial term that measures the dollars added the cost the retailer paid for a product to arrive at the initial selling price.

Accepted Answer

A)  maintained markup
B)  original markup
C)  return on investment
D)  markup
E)  markdownF) C) and E)
G) A) and C)

Question 13

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores.These are referred to as __________.

Accepted Answer

A)  extreme value retailers
B)  warehouse clubs
C)  discount houses
D)  outlet stores
E)  community shopping centersF) B) and C)
G) A) and B)

Question 14

Unlike merchant wholesalers,agents,and brokers,manufacturers' branches and sales offices are __________ that perform wholesaling activities.

Accepted Answer

A)  independent distribution managers
B)  independent intermediary channels
C)  wholly-owned extensions of the producer
D)  wholly-owned extensions of the distributor
E)  wholly-owned extensions of the retailerF) None of the above
G) A) and B)

Question 15

In the telemarketing industry,issues such as __________,ethical guidelines,and industry standards have become a topic of discussion among consumers,Congress,the Federal Trade Commission (FTC) ,and businesses.

Accepted Answer

A)  competitive antics
B)  coercion tactics
C)  freedom of speech
D)  language issues
E)  consumer privacyF) C) and D)
G) B) and E)

Question 16

Managing the breadth and depth of merchandise available from many manufacturers requires retail buyers who are

Accepted Answer

A)  efficient and effective managers.
B)  familiar with the needs of the target market.
C)  experienced shoppers.
D)  familiar with retail inventory management.
E)  autocratic and intelligent.F) A) and C)
G) A) and D)

Question 17

Mike's Camera is a retailer that carries a full line of professional and amateur cameras,develops and/or prints all types of film and digital photos,and even sells darkroom equipment.Mike's Camera is an example of a(n) __________.

Accepted Answer

A)  hypermarket
B)  general merchandise store
C)  scrambled merchandise store
D)  intertype outlet
E)  specialty outletF) C) and E)
G) C) and D)

Question 18

The Direct Marketing Association estimates that direct-mail and catalog retailing creates __________ in sales.

Accepted Answer

A)  $100,000
B)  $14,000,000
C)  $190,000,000
D)  $22,000,000,000
E)  $669,000,000,000F) B) and D)
G) C) and D)

Question 19

The marketing metrics related to a retailer's customers include all of the following EXCEPT:

Accepted Answer

A)  the number of customers per day or per hour.
B)  the average length of a store visit.
C)  the turnover of inventory.
D)  the average transaction size per customer.
E)  the number of transactions per customer.F) A) and B)
G) B) and E)

Question 20

Jim Smith is an avid fly fisherman who lives in Deer Key,FL.For his hobby,Jim needs large rubber rafts,hip waders,special fishing rods,reels,line,and an assortment of fishing tackle and lures.There are no sporting goods stores in Deer Key,so Jim orders his fishing supplies from the L.L.Bean catalog.His supplies are generally delivered to his home within 72 hours.Jim is using a __________ to satisfy his fishing supply needs.

Accepted Answer

A)  home delivery retailer
B)  quick response retailer
C)  direct-mail marketer
D)  flexible response marketer
E)  regional marketerF) All of the above
G) A) and B)

Exam 13: Retailing and Wholesaling

Selling agents refer to agents who

Correct Answer
verified

In the telemarketing industry,issues such as consumer privacy,__________,and industry standards have become a topic of discussion among consumers,Congress,the Federal Trade Commission (FTC) ,and businesses.

Correct Answer
verified

The marketing metrics related to a retailer's customers include all of the following EXCEPT:

Correct Answer
verified

Correct Answer
verified

Specialty stores that dominate the market are referred to as __________.

Correct Answer
verified

The retailing mix refers to the activities related to the management of and the merchandise in the store,which includes

Correct Answer
verified

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores.These are referred to as __________.

Correct Answer
verified

The ___________ is a financial term that measures the dollars added the cost the retailer paid for a product to arrive at the initial selling price.

Correct Answer
verified

Explain the relationship between a franchisee and a franchisor.

Correct Answer
verified
In a franchise system,an individual or f...
View Answer

Mike's Camera is a retailer that carries a full line of professional and amateur cameras,develops and/or prints all types of film and digital photos,and even sells darkroom equipment.Mike's Camera is an example of a(n) __________.

Correct Answer
verified

The Direct Marketing Association estimates that direct-mail and catalog retailing creates __________ in sales.

Correct Answer
verified

Retailing refers to all activities involved in the

Correct Answer
verified

Managing the breadth and depth of merchandise available from many manufacturers requires retail buyers who are

Correct Answer
verified

The variety of different items a store carries is referred to as the

Correct Answer
verified

Unlike merchant wholesalers,agents,and brokers,manufacturers' branches and sales offices are __________ that perform wholesaling activities.

Correct Answer
verified

A markdown refers to

Correct Answer
verified

The wholesalers most prevalent in the hardware,drug,and clothing industries would be __________.

Correct Answer
verified

Which form of retail outlet would most likely offer customers convenience,quality personal service,and lifestyle compatibility?

Correct Answer
verified

In the telemarketing industry,issues such as __________,ethical guidelines,and industry standards have become a topic of discussion among consumers,Congress,the Federal Trade Commission (FTC) ,and businesses.

Correct Answer
verified

Which type of wholesaler traditionally sells hosiery,toys,and health and beauty items?

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Selling agents refer to agents who

Correct AnswerverifiedShow Answer

In the telemarketing industry,issues such as consumer privacy,__________,and industry standards have become a topic of discussion among consumers,Congress,the Federal Trade Commission (FTC) ,and businesses.

Correct AnswerverifiedShow Answer

The marketing metrics related to a retailer's customers include all of the following EXCEPT:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Specialty stores that dominate the market are referred to as __________.

Correct AnswerverifiedShow Answer

The retailing mix refers to the activities related to the management of and the merchandise in the store,which includes

Correct AnswerverifiedShow Answer

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores.These are referred to as __________.

Correct AnswerverifiedShow Answer

The ___________ is a financial term that measures the dollars added the cost the retailer paid for a product to arrive at the initial selling price.

Correct AnswerverifiedShow Answer

Explain the relationship between a franchisee and a franchisor.

Correct AnswerverifiedIn a franchise system,an individual or f...View AnswerShow Answer

Mike's Camera is a retailer that carries a full line of professional and amateur cameras,develops and/or prints all types of film and digital photos,and even sells darkroom equipment.Mike's Camera is an example of a(n) __________.

Correct AnswerverifiedShow Answer

The Direct Marketing Association estimates that direct-mail and catalog retailing creates __________ in sales.

Correct AnswerverifiedShow Answer

Retailing refers to all activities involved in the

Correct AnswerverifiedShow Answer

Managing the breadth and depth of merchandise available from many manufacturers requires retail buyers who are

Correct AnswerverifiedShow Answer

The variety of different items a store carries is referred to as the

Correct AnswerverifiedShow Answer

Unlike merchant wholesalers,agents,and brokers,manufacturers' branches and sales offices are __________ that perform wholesaling activities.

Correct AnswerverifiedShow Answer

A markdown refers to

Correct AnswerverifiedShow Answer

The wholesalers most prevalent in the hardware,drug,and clothing industries would be __________.

Correct AnswerverifiedShow Answer

Which form of retail outlet would most likely offer customers convenience,quality personal service,and lifestyle compatibility?

Correct AnswerverifiedShow Answer

In the telemarketing industry,issues such as __________,ethical guidelines,and industry standards have become a topic of discussion among consumers,Congress,the Federal Trade Commission (FTC) ,and businesses.

Correct AnswerverifiedShow Answer

Which type of wholesaler traditionally sells hosiery,toys,and health and beauty items?

Correct AnswerverifiedShow Answer

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verified
In a franchise system,an individual or f...
View Answer

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verified

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