Question 1

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)  category capacity.
B)  product management.
C)  retail inventory category.
D)  category management.
E)  automated inventory control.F) B) and E)
G) A) and B)

Question 2

Meijer operates a chain of hypermarkets headquartered in Michigan,which means it

Accepted Answer

A)  engages in no intertype competition.
B)  is a disintermediator.
C)  uses scrambled merchandising.
D)  can also be referred to as a category killer.
E)  uses dual distribution.F) B) and D)
G) B) and E)

Question 3

The complementary role of different communication and delivery channels is referred to as

Accepted Answer

A)  the cumulative effect.
B)  the primary effect.
C)  the cross-over effect.
D)  the complementary effect.
E)  the influence effect.F) A) and D)
G) B) and E)

Question 4

A supercenter is a(n)

Accepted Answer

A)   auto service center that sells and leases cars as well as repairs them.
B)   type of specialty outlet.
C)   store that combines a typical merchandise store with a full-size grocery store.
D)   mall with more than 100 stores and several important anchor stores.
E)   store one step larger than a hypermarket.F) B) and C)
G) B) and E)

Question 5

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 offers a wide variety of services,including on-site alterations and tailoring,a 7-days-a-week customer service line,live chat line with beauty,design,and wedding specialists and would be considered a(n)

Accepted Answer

A)   exclusive-service retailer.
B)   limited-service retailer.
C)   full-service retailer.
D)   upscale retailer.
E)   limited-domain retailer.F) B) and C)
G) C) and D)

Question 6

The value added dimension of the retail positioning matrix includes elements such as location,product reliability,and

Accepted Answer

A)  prestige.
B)  price.
C)  market share.
D)  number of employees.
E)  level of service.F) All of the above
G) D) and E)

Question 7

Walmart has developed a sophisticated inventory management and cost control system that allows rapid price changes for each product in the store.The firm also uses technologies such as ________ to improve the quality of information available about products.

Accepted Answer

A)  radio frequency identification
B)  encapsulation techniques
C)  bar code scanners
D)  nanotechnology
E)  cookiesF) C) and E)
G) A) and B)

Question 8

In the context of omnichannel retailing,all of the following are potential consumer touch points for a retailer except which?

Accepted Answer

A)  picking up the product from the nearest store
B)  providing feedback on the retailer's Facebook page
C)  placing an order online
D)  using displays,coupons,product samples,and other brand communications to influence shopping behavior
E)  using a mobile app to scan a QR code from a catalogF) C) and E)
G) A) and B)

Question 9

Anytime Fitness is a popular

Accepted Answer

A)  business-format franchise.
B)  product-distribution franchise.
C)  operations franchise venture.
D)  manufacturing franchise.
E)  general service franchise.F) C) and E)
G) None of the above

Question 10

Why are vending machine prices often higher than those in a retail store?

Accepted Answer

Vending machine maintenance,op...

Question 11

Most stores today are near several others in one of five settings that include all of the following except which?

Accepted Answer

A)  the regional shopping center
B)  the strip mall
C)  the old-town district
D)  the community shopping center
E)  the power centerF) D) and E)
G) A) and B)

Question 12

Multichannel retailers are retailers that

Accepted Answer

A)  sell different products through entirely different channels.
B)  sell through different channels under different brand names.
C)  utilize strategic and tactical wholesalers.
D)  utilize and integrate a combination of traditional store formats and nonstore formats.
E)  combine two channels for their offerings: one for products and the other for services.F) A) and E)
G) A) and C)

Question 13

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) A) and B)
G) A) and C)

Question 14

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 E)
G) B) and C)

Question 15

Discounting generally takes place during which stage of the retail life cycle?

Accepted Answer

A)  early growth
B)  accelerated development
C)  decline
D)  maturity
E)  early growth and maturityF) B) and C)
G) A) and B)

Question 16

Boston Pizza wants to determine how effective its retail space is compared to other pizza establishments in the local area.The calculation for this indicator is arrived at by determining the ________ for its store and comparing it against the same indicator for all of the other local pizza outlets.

Accepted Answer

A)  same-store gross margin
B)  same-store sales growth
C)  sales per square foot
D)  net profit
E)  same-store net present valueF) A) and E)
G) A) and B)

Question 17

A unique broker that acts in many ways like a manufacturer's agent is a food broker,representing buyers and sellers in the grocery industry.Food brokers differ from conventional brokers because they act on behalf of producers on a permanent basis and

Accepted Answer

A)  receive a commission for their services.
B)  are paid a flat fee for each time the shelves are stocked.
C)  are paid by both the buyer and seller separately depending upon the size of the order.
D)  are paid a commission by the buyer and a bonus by the seller.
E)  are paid a flat fee by both the buyer and seller,but receive a bonus based upon the percentage of increased sales by quarter.F) A) and E)
G) B) and D)

Question 18

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as

Accepted Answer

A)  brokers.
B)  line brokers.
C)  selling agents.
D)  distribution brokers.
E)  manufacturers' agents.F) A) and E)
G) C) and D)

Question 19

The three key methods of classifying retail operations are

Accepted Answer

A)  method of operation,revenues generated,and merchandise line.
B)  form of ownership,method of operation,and merchandise line.
C)  form of ownership,level of service,and merchandise line.
D)  level of service,merchandise line,and revenues generated.
E)  merchandise line,form of ownership,and revenues generated.F) D) and E)
G) A) and C)

Question 20

Price ranges,store layouts,and breadth and depth of merchandise lines are considered to be the ________ of a store's image.

Accepted Answer

A)  functional qualities
B)  sociological qualities
C)  psychological attributes
D)  lifestyle attributes
E)  atmospheric elementsF) D) and E)
G) B) and C)

Exam 16: Retailing and Wholesaling

Correct Answer
verified

The complementary role of different communication and delivery channels is referred to as

Correct Answer
verified

Why are vending machine prices often higher than those in a retail store?

Correct Answer
verified
Vending machine maintenance,op...
View Answer

Discounting generally takes place during which stage of the retail life cycle?

Correct Answer
verified

A supercenter is a(n)

Correct Answer
verified

The three key methods of classifying retail operations are

Correct Answer
verified

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

Correct Answer
verified

A unique broker that acts in many ways like a manufacturer's agent is a food broker,representing buyers and sellers in the grocery industry.Food brokers differ from conventional brokers because they act on behalf of producers on a permanent basis and

Correct Answer
verified

Anytime Fitness is a popular

Correct Answer
verified

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as

Correct Answer
verified

Multichannel retailers are retailers that

Correct Answer
verified

Price ranges,store layouts,and breadth and depth of merchandise lines are considered to be the ________ of a store's image.

Correct Answer
verified

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

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

The value added dimension of the retail positioning matrix includes elements such as location,product reliability,and

Correct Answer
verified

Walmart has developed a sophisticated inventory management and cost control system that allows rapid price changes for each product in the store.The firm also uses technologies such as ________ to improve the quality of information available about products.

Correct Answer
verified

Meijer operates a chain of hypermarkets headquartered in Michigan,which means it

Correct Answer
verified

Most stores today are near several others in one of five settings that include all of the following except which?

Correct Answer
verified

In the context of omnichannel retailing,all of the following are potential consumer touch points for a retailer except which?

Correct Answer
verified

Boston Pizza wants to determine how effective its retail space is compared to other pizza establishments in the local area.The calculation for this indicator is arrived at by determining the ________ for its store and comparing it against the same indicator for all of the other local pizza outlets.

Correct Answer
verified

Exam 16: Retailing and Wholesaling

Correct AnswerverifiedShow Answer

The complementary role of different communication and delivery channels is referred to as

Correct AnswerverifiedShow Answer

Why are vending machine prices often higher than those in a retail store?

Correct AnswerverifiedVending machine maintenance,op...View AnswerShow Answer

Discounting generally takes place during which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

A supercenter is a(n)

Correct AnswerverifiedShow Answer

The three key methods of classifying retail operations are

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A unique broker that acts in many ways like a manufacturer's agent is a food broker,representing buyers and sellers in the grocery industry.Food brokers differ from conventional brokers because they act on behalf of producers on a permanent basis and

Correct AnswerverifiedShow Answer

Anytime Fitness is a popular

Correct AnswerverifiedShow Answer

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as

Correct AnswerverifiedShow Answer

Multichannel retailers are retailers that

Correct AnswerverifiedShow Answer

Price ranges,store layouts,and breadth and depth of merchandise lines are considered to be the ________ of a store's image.

Correct AnswerverifiedShow Answer

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

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

The value added dimension of the retail positioning matrix includes elements such as location,product reliability,and

Correct AnswerverifiedShow Answer

Walmart has developed a sophisticated inventory management and cost control system that allows rapid price changes for each product in the store.The firm also uses technologies such as ________ to improve the quality of information available about products.

Correct AnswerverifiedShow Answer

Meijer operates a chain of hypermarkets headquartered in Michigan,which means it

Correct AnswerverifiedShow Answer

Most stores today are near several others in one of five settings that include all of the following except which?

Correct AnswerverifiedShow Answer

In the context of omnichannel retailing,all of the following are potential consumer touch points for a retailer except which?

Correct AnswerverifiedShow Answer

Boston Pizza wants to determine how effective its retail space is compared to other pizza establishments in the local area.The calculation for this indicator is arrived at by determining the ________ for its store and comparing it against the same indicator for all of the other local pizza outlets.

Correct AnswerverifiedShow Answer

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verified

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verified
Vending machine maintenance,op...
View Answer

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