Question 1

Stores that carry a broad product line with limited depth are referred to as __________.

Accepted Answer

A)   limited-line stores
B)   general merchandise stores
C)   scrambled merchandise stores
D)   hypermarkets
E)   intertype outletsF) A) and C)
G) B) and E)

Question 2

key goal for retailers in the accelerated development phase of the retail life cycle is to

Accepted Answer

A)   recover start-up costs.
B)   establish a dominant position in the fight for market share.
C)   delay entering the decline stage of the retail life cycle.
D)   find ways of discouraging their customers from moving to low-margin, mass-volume outlets.
E)   establish a retail concept that is a sharp departure from existing competition.F) A) and E)
G) All of the above

Question 3

retail life cycle refers to

Accepted Answer

A)   the distinct stages a product goes through before it becomes obsolete.
B)   the process of growth and decline that retail outlets, like products, experience.
C)   the cycle of a customer's buying behavior from awareness of a product to its ultimate purchase.
D)   the relationship between the tangible aspects of a product and the types of services that need to accompany it.
E)   the traditional management changes that take place as a retail outlet grows.F) A) and B)
G) A) and C)

Question 4

Subway is a popular __________.

Accepted Answer

A)   business-format franchise
B)   product-distribution franchise
C)   business franchise venture
D)   manufacturing franchise
E)   general service franchiseF) All of the above
G) D) and E)

Question 5

During which stage of the retail life cycle do companies establish multiple outlets?

Accepted Answer

A)   decline
B)   maturity
C)   accelerated development
D)   introduction
E)   early growthF) B) and E)
G) A) and B)

Question 6

community shopping center refers to a

Accepted Answer

A)   suburban mall containing up to 100 stores that draws customer from a 5-to 10-mile radius.
B)   cluster of stores in a downtown area.
C)   cluster of stores that serves people who are within a five- to ten-minute drive.
D)   collection of category killers usually located outside a major amusement park or attraction.
E)   retail location that typically has one primary store (usually a department store branch)  with 20 to 40 smaller outlets serving a population of consumers who are within a 10- to 20-minute drive.F) A) and B)
G) A) and C)

Question 7

Located predominately in Europe,these large stores (90,000 - 300,000 square feet) offer 20,000-80,000 different food,grocery,and general merchandise products,have annual revenue of over $100,000,000 per store,and are referred to as

Accepted Answer

A)   discount wholesalers.
B)   discount retailers.
C)   supermarkets.
D)   hypermarkets.
E)   retail cooperatives.F) All of the above
G) A) and E)

Question 8

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

Accepted Answer

A)   the markdown percentage.
B)   the average length of a store visit.
C)   the return on sales.
D)   the gross margin.
E)   the sales per employee.F) A) and C)
G) B) and E)

Question 9

Using the telephone to interact with and sell directly to consumers is referred to as __________.

Accepted Answer

A)   digital marketing
B)   telemarketing
C)   solicitation marketing
D)   direct contact marketing
E)   direct sellingF) C) and D)
G) B) and C)

Question 10

drug store that sells pharmaceuticals,beauty aids,camera equipment,nonperishable grocery items,and automobile motor oil is an example of a retailer using

Accepted Answer

A)   multiple distribution channels.
B)   full-service.
C)   scrambled merchandising.
D)   intertype competition.
E)   dual channel marketing.F) A) and D)
G) All of the above

Question 11

Multichannel Merchant magazine evaluates hundreds of entries to select the winners of the Multichannel Merchant Awards in 18 categories for companies that have excelled in

Accepted Answer

A)   designing the most effective direct-mail piece.
B)   designing the most creative catalog cover.
C)   implementing efficient direct-mail campaigns.
D)   integrating their direct-mail and catalog activities with other marketing activities.
E)   providing creative price promotions to channel members.F) A) and B)
G) B) and E)

Question 12

activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as __________.

Accepted Answer

A)   manufacturing
B)   retailing
C)   wholesaling
D)   facilitating
E)   logisticsF) C) and E)
G) C) and D)

Question 13

retailers now allow consumers to respond to their text messages announcing a sale for a specified time period.Consumers must then visit the site to purchase the sale items.Which of the following retailing websites offer these limited time "flash sales?"

Accepted Answer

A)   TextBuyIt
B)   Best Buy
C)   PeaPod
D)   eBay
E)   GiltF) A) and B)
G) A) and C)

Question 14

setting prices for merchandise,retailers must decide on the markup,markdown,and the __________ for markdowns.

Accepted Answer

A)   relevance
B)   necessity
C)   percentage
D)   timing
E)   consequenceF) A) and B)
G) All of the above

Question 15

supermarkets have in-store restaurants where a customer can buy prepared meals to take home or eat there.Supermarkets and restaurants that provide these kinds of meals are engaged in __________ competition.

Accepted Answer

A)   intertype
B)   institutional
C)   intermodal
D)   functional
E)   selectiveF) C) and D)
G) A) and B)

Question 16

term "bricks and clicks" refers to __________ and __________ respectively.

Accepted Answer

A)   catalogs; websites
B)   search engines; websites
C)   traditional retailers; online retailers
D)   buildings; mice
E)   computer savvy buyers; computer novice buyersF) A) and B)
G) D) and E)

Question 17

Outlets where customers are responsible for most shopping activities,although salespeople are available in some departments,would be classified as __________ outlets.

Accepted Answer

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

Question 18

indicator used to compare the increase in sales of stores that have been open for the same period of time is called

Accepted Answer

A)   market share of each store.
B)   same-store sales growth.
C)   sales per square foot of each store.
D)   gross sales per store.
E)   net profit per store.F) B) and D)
G) A) and B)

Question 19

Stores that carry tremendous depth in one primary line of merchandise are referred to as

Accepted Answer

A)   hypermarkets.
B)   intertype outlets.
C)   scrambled merchandise stores.
D)   limited-line stores.
E)   single-line stores.F) A) and E)
G) C) and D)

Question 20

Figure 16-10
-According to Figure 16-10 above,"A" represents which stage of the retail life cycle?

Accepted Answer

A)   introduction
B)   early growth
C)   accelerated development
D)   maturity
E)   declineF) A) and B)
G) C) and D)

Exam 16: Retailing and Wholesaling

setting prices for merchandise,retailers must decide on the markup,markdown,and the __________ for markdowns.

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

Correct AnswerverifiedShow Answer

Multichannel Merchant magazine evaluates hundreds of entries to select the winners of the Multichannel Merchant Awards in 18 categories for companies that have excelled in

Correct AnswerverifiedShow Answer

indicator used to compare the increase in sales of stores that have been open for the same period of time is called

Correct AnswerverifiedShow Answer

During which stage of the retail life cycle do companies establish multiple outlets?

Correct AnswerverifiedShow Answer

Subway is a popular __________.

Correct AnswerverifiedShow Answer

drug store that sells pharmaceuticals,beauty aids,camera equipment,nonperishable grocery items,and automobile motor oil is an example of a retailer using

Correct AnswerverifiedShow Answer

retail life cycle refers to

Correct AnswerverifiedShow Answer

Located predominately in Europe,these large stores (90,000 - 300,000 square feet) offer 20,000-80,000 different food,grocery,and general merchandise products,have annual revenue of over $100,000,000 per store,and are referred to as

Correct AnswerverifiedShow Answer

Figure 16-10 -According to Figure 16-10 above,"A" represents which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as __________.

Correct AnswerverifiedShow Answer

retailers now allow consumers to respond to their text messages announcing a sale for a specified time period.Consumers must then visit the site to purchase the sale items.Which of the following retailing websites offer these limited time "flash sales?"

Correct AnswerverifiedShow Answer

community shopping center refers to a

Correct AnswerverifiedShow Answer

Stores that carry tremendous depth in one primary line of merchandise are referred to as

Correct AnswerverifiedShow Answer

key goal for retailers in the accelerated development phase of the retail life cycle is to

Correct AnswerverifiedShow Answer

supermarkets have in-store restaurants where a customer can buy prepared meals to take home or eat there.Supermarkets and restaurants that provide these kinds of meals are engaged in __________ competition.

Correct AnswerverifiedShow Answer

Outlets where customers are responsible for most shopping activities,although salespeople are available in some departments,would be classified as __________ outlets.

Correct AnswerverifiedShow Answer

Using the telephone to interact with and sell directly to consumers is referred to as __________.

Correct AnswerverifiedShow Answer

term "bricks and clicks" refers to __________ and __________ respectively.

Correct AnswerverifiedShow Answer

Stores that carry a broad product line with limited depth are referred to as __________.

Correct AnswerverifiedShow Answer

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term "bricks and clicks" refers to and respectively.

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