Question 1

A financial indicator used to compare the increase in sales of stores that have been open for the same period of time is referred to as __________.

Accepted Answer

A)  return on investment
B)  percentage of markup
C)  gross profit
D)  sales per square foot
E)  same-store sales growthF) D) and E)
G) A) and C)

Question 2

Scrambled merchandising refers to

Accepted Answer

A)  displaying merchandise throughout a store rather than keeping all similar items together in rows on a shelf or point of purchase displays.
B)  offering several unrelated product lines in a single store.
C)  changing where items are displayed in a store to create customer interest to a variety of product lines.
D)  offering several related product lines in multiple stores.
E)  offering several related product lines in a single storeF) C) and D)
G) D) and E)

Question 3

Many retailers take a markdown as soon as sales fall to free valuable selling space and cash. This illustrates one tactic for handling the __________ of markdowns.

Accepted Answer

A)  timing
B)  demand
C)  availability
D)  bargain hunting
E)  customer valueF) All of the above
G) None of the above

Question 4

An approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category, is referred to as __________.

Accepted Answer

A)  capacity management
B)  product management
C)  retail inventory management
D)  category management
E)  automated inventory controlF) A) and B)
G) C) and D)

Question 5

Explain the difference between breadth of line and depth of line. Be sure to include the definition of scrambled merchandising in your explanation.

Accepted Answer

Breadth of line means the store carries ...

Question 6

Enterprise car rental agency differentiates itself from other similar agencies by providing a delivery service. This delivery service is particularly valuable to someone who has been left stranded without transportation. By making it easy to rent temporary transportation, Enterprise is emphasizing which utility?

Accepted Answer

A)  form
B)  product
C)  service
D)  possession
E)  convenienceF) A) and C)
G) D) and E)

Question 7

What is off-price retailing? Identify and give an example an off-price retailer.

Accepted Answer

Off-price retailing involves selling bra...

Question 8

Which of the following statements best describes the key difference between merchant wholesalers and agents and brokers?

Accepted Answer

A)  Merchant wholesalers don't perform all channel functions whereas agents and brokers do.
B)  Agents and brokers only deal with consumer channels.
C)  Agents and brokers make their profits based on the sales of merchandise they own, while merchant wholesalers make profits based on fees paid for their services.
D)  Merchant wholesalers take title to merchandise whereas agents and brokers do not.
E)  Agents and brokers take title to merchandise whereas merchant wholesalers do not.F) C) and D)
G) A) and B)

Question 9

-According to Figure 13-4 above, where would you find the highest prices, margins, and status?

Accepted Answer

A)   A
B)   B
C)   C
D)   D
E)   A and DF) B) and D)
G) C) and D)

Question 10

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) None of the above
G) C) and D)

Question 11

The use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store is referred to as

Accepted Answer

A)  functional qualities.
B)  level of service.
C)  shopper marketing.
D)  lifestyle attributes.
E)  psychographic elements.F) D) and E)
G) B) and C)

Question 12

A retailer bought a collectible Precious Moments figurine for $26. She sets the initial selling price at $60. The final selling price was $52. What was the original markup?

Accepted Answer

A)  $8
B)  $13
C)  $26
D)  $34
E)  $86F) All of the above
G) C) and D)

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) A) and B)
G) B) and E)

Question 14

Name each of the four utilities offered by retailing and with each, identify a retailer that provides that utility.

Accepted Answer

The four utilities retailing offers are:...

Question 15

In retailing, a form of ownership that involves multiple outlets under common ownership is referred to as a(n)

Accepted Answer

A)  corporate chain.
B)  consumer cooperative.
C)  contractual system.
D)  independent retailer.
E)  administered system.F) B) and D)
G) B) and C)

Question 16

Stores like Dillard's, Macy's, and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type. These retailers are known as __________.

Accepted Answer

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

Question 17

The West Edmonton Mall in Alberta, Canada is a conglomerate of more than 800 stores, the world's largest indoor amusement park, more than 100 restaurants, a movie complex, and two hotels. This retail complex is the largest example of a(n)  __________.

Accepted Answer

A)  regional shopping center
B)  urban microcenter
C)  megaplex
D)  hypermarket
E)  supercenterF) A) and C)
G) C) and D)

Question 18

Consumers often view central business district shopping as less convenient because of the lack of parking, higher crime rates, and __________.

Accepted Answer

A)  out-dated stores
B)  a lack of ambiance
C)  fewer quality restaurants
D)  few public restrooms
E)  exposure to the weatherF) None of the above
G) A) and B)

Question 19

The Mall of America is an example of which type of setting for a store location?

Accepted Answer

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

Question 20

Retailing is an important marketing activity. Not only do producers and consumers meet through retailing actions, but retailing also creates __________.

Accepted Answer

A)  the nation's largest source of tax revenues
B)  the largest source of charitable contributions
C)  limited utilities for consumers
D)  customer value
E)  a sense of communityF) C) and E)
G) B) and E)

Exam 13: Retailing and Wholesaling

Which of the following statements best describes the key difference between merchant wholesalers and agents and brokers?

Correct Answer
verified

Name each of the four utilities offered by retailing and with each, identify a retailer that provides that utility.

Correct Answer
verified
The four utilities retailing offers are:...
View Answer

Explain the difference between breadth of line and depth of line. Be sure to include the definition of scrambled merchandising in your explanation.

Correct Answer
verified
Breadth of line means the store carries ...
View Answer

A retailer bought a collectible Precious Moments figurine for $26. She sets the initial selling price at $60. The final selling price was $52. What was the original markup?

Correct Answer
verified

A financial indicator used to compare the increase in sales of stores that have been open for the same period of time is referred to as __________.

Correct Answer
verified

The Mall of America is an example of which type of setting for a store location?

Correct Answer
verified

Scrambled merchandising refers to

Correct Answer
verified

The West Edmonton Mall in Alberta, Canada is a conglomerate of more than 800 stores, the world's largest indoor amusement park, more than 100 restaurants, a movie complex, and two hotels. This retail complex is the largest example of a(n) __________.

Correct Answer
verified

-According to Figure 13-4 above, where would you find the highest prices, margins, and status?

Correct Answer
verified

In retailing, a form of ownership that involves multiple outlets under common ownership is referred to as a(n)

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 use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store is referred to as

Correct Answer
verified

Correct Answer
verified

What is off-price retailing? Identify and give an example an off-price retailer.

Correct Answer
verified
Off-price retailing involves selling bra...
View Answer

Consumers often view central business district shopping as less convenient because of the lack of parking, higher crime rates, and __________.

Correct Answer
verified

Correct Answer
verified

Many retailers take a markdown as soon as sales fall to free valuable selling space and cash. This illustrates one tactic for handling the __________ of markdowns.

Correct Answer
verified

Retailing is an important marketing activity. Not only do producers and consumers meet through retailing actions, but retailing also creates __________.

Correct Answer
verified

Stores like Dillard's, Macy's, and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type. These retailers are known as __________.

Correct Answer
verified

Retailing refers to all activities involved in the

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Which of the following statements best describes the key difference between merchant wholesalers and agents and brokers?

Correct AnswerverifiedShow Answer

Name each of the four utilities offered by retailing and with each, identify a retailer that provides that utility.

Correct AnswerverifiedThe four utilities retailing offers are:...View AnswerShow Answer

Explain the difference between breadth of line and depth of line. Be sure to include the definition of scrambled merchandising in your explanation.

Correct AnswerverifiedBreadth of line means the store carries ...View AnswerShow Answer

A retailer bought a collectible Precious Moments figurine for $26. She sets the initial selling price at $60. The final selling price was $52. What was the original markup?

Correct AnswerverifiedShow Answer

A financial indicator used to compare the increase in sales of stores that have been open for the same period of time is referred to as __________.

Correct AnswerverifiedShow Answer

The Mall of America is an example of which type of setting for a store location?

Correct AnswerverifiedShow Answer

Scrambled merchandising refers to

Correct AnswerverifiedShow Answer

The West Edmonton Mall in Alberta, Canada is a conglomerate of more than 800 stores, the world's largest indoor amusement park, more than 100 restaurants, a movie complex, and two hotels. This retail complex is the largest example of a(n) __________.

Correct AnswerverifiedShow Answer

-According to Figure 13-4 above, where would you find the highest prices, margins, and status?

Correct AnswerverifiedShow Answer

In retailing, a form of ownership that involves multiple outlets under common ownership is referred to as a(n)

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 use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What is off-price retailing? Identify and give an example an off-price retailer.

Correct AnswerverifiedOff-price retailing involves selling bra...View AnswerShow Answer

Consumers often view central business district shopping as less convenient because of the lack of parking, higher crime rates, and __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Many retailers take a markdown as soon as sales fall to free valuable selling space and cash. This illustrates one tactic for handling the __________ of markdowns.

Correct AnswerverifiedShow Answer

Retailing is an important marketing activity. Not only do producers and consumers meet through retailing actions, but retailing also creates __________.

Correct AnswerverifiedShow Answer

Stores like Dillard's, Macy's, and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type. These retailers are known as __________.

Correct AnswerverifiedShow Answer

Retailing refers to all activities involved in the

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
The four utilities retailing offers are:...
View Answer

Correct Answer
verified
Breadth of line means the store carries ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Off-price retailing involves selling bra...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified