Question 1

One way neighborhood grocers can take advantage of volume discounts commonly available to corporate chains is to

Accepted Answer

A)  purchase a franchise membership.
B)  become a subsidiary of a larger supermarket chain like Kroger.
C)  join a professional merchant association and hire food brokers to negotiate lower prices for produce and dry goods.
D)  create a grocery networking system to exchange coupon vouchers.
E)  participate in a retailer-sponsored cooperative with other independent grocers.F) C) and D)
G) B) and E)

Question 2

Not every suburban store is located in a shopping mall. Many neighborhoods have clusters of stores, referred to as a strip mall, to serve people who are within a 5- to 10-minute drive. Unlike the larger shopping centers, the composition of these clusters usually __________.

Accepted Answer

A)  is unplanned
B)  includes national anchor stores
C)  is restricted to privately-owned specialty stores
D)  is mainly fast food restaurants
E)  includes amusement or theme parksF) A) and E)
G) C) and E)

Question 3

There are three general forms of retail ownership: contractual system, corporate chain, and __________.

Accepted Answer

A)  dual ownership
B)  industry consortium
C)  retailing cooperative
D)  independent retailer
E)  multi-national cartelF) A) and E)
G) B) and C)

Question 4

A large assortment of each item within a product line in a store is referred to as

Accepted Answer

A)  product span.
B)  breadth of product line.
C)  length of product line.
D)  width of product line.
E)  depth of product lineF) B) and E)
G) A) and C)

Question 5

Vending machines are an example of __________.

Accepted Answer

A)  hypermarkets
B)  direct mail
C)  scrambled merchandising
D)  intertype competition
E)  nonstore retailingF) A) and B)
G) B) and E)

Question 6

McDonald's, Radio Shack, and Subway are examples of __________.

Accepted Answer

A)  product-distribution franchises
B)  corporate franchise ventures
C)  business-format franchises
D)  manufacturing franchises
E)  general service franchiseF) None of the above
G) A) and C)

Question 7

Walmart recently introduced its Site-to-Store service that

Accepted Answer

A)  offers shoppers a virtual reality shopping experience from their home computers.
B)  allows customers to order online and receive free same-day pickup at a local store.
C)  provides free shipping to customers if they order $45 or more of selected items.
D)  allows customers to "showroom," coming to the store, compare an item's price on the Internet, and then honor a competitor's lower price if they bring an ad of the item to the store.
E)  allows customers hold online auctions for Walmart overstock or seasonal items that are being discontinued to make room for new inventory.F) A) and D)
G) B) and E)

Question 8

Prices in vending machines tend to be higher because

Accepted Answer

A)  machines are placed in low demand/traffic areas.
B)  maintenance, operating, and leasing costs are high.
C)  only small unit volume items are sold.
D)  customary pricing requires certain coin and currency amounts regardless of the normal retailer markup.
E)  few people buy from vending machines.F) C) and E)
G) A) and B)

Question 9

Albertson's Supermarket accepts debit and credit cards as well as cash and checks for purchases. Its acceptance of various forms of payment provides its customers with __________ utility.

Accepted Answer

A)  time
B)  place
C)  possession
D)  form
E)  publicF) C) and D)
G) All of the above

Question 10

Identify and describe the functions of agents and brokers.

Accepted Answer

Agents and brokers do not take title to ...

Question 11

Most specialty stores and department stores, which provide many services to their customers, are considered to be __________.

Accepted Answer

A)  exclusive-service retailers
B)  limited-service retailers
C)  full-service retailers
D)  complete-service retailers
E)  upscale-service retailersF) All of the above
G) A) and D)

Question 12

The activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise are referred to as the __________.

Accepted Answer

A)  wheel of retailing
B)  distribution plan
C)  retail life cycle
D)  retailing mix
E)  retail store positioningF) A) and E)
G) B) and C)

Question 13

The revolutionary new __________ resembles a pair of eyeglasses that has both the capability for voice recognition and a small screen capable of displaying information that may help wearers with their shopping experiences as they engage in the purchase decision process.

Accepted Answer

A)  Apple iWatch
B)  Facebook Vision
C)  EyeTap Goggles
D)  Google Glass
E)  Foursquare's FourEyesF) A) and D)
G) A) and C)

Question 14

Improvements in which form of nonstore retailing include touchscreens, credit card readers, wireless payment technology, and better energy efficiency?

Accepted Answer

A)  direct mail
B)  online retailing
C)  television home shopping
D)  telemarketing
E)  automatic vendingF) A) and B)
G) C) and D)

Question 15

A customer was unable to go to the store on her own to buy gifts for the holidays. She contacted a Pampered Chef representative who came to her home, showed her not only catalogs but actual products, answered all her questions, and had all the customer's gifts sorted and delivered. This is an example of __________.

Accepted Answer

A)  interface marketing
B)  flex-marketing
C)  direct selling
D)  interactive selling
E)  responsive sellingF) B) and E)
G) B) and D)

Question 16

A significant difference between the Mall of America and other regional shopping centers is that

Accepted Answer

A)  all MOA employees are required to be multilingual because of the store's international draw.
B)  MOA has nearly twice as much space devoted to specialty stores than to anchor stores.
C)  retail store owners can live in attached condominiums, at reduced rates, so they don't have to worry about getting to work in bad weather.
D)  employees can take classes on the premises offered through a local community college.
E)  employees get a 50% discount at all the food establishments.F) A) and E)
G) A) and C)

Question 17

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)  JCPenney
E)  BloomingdaleF) A) and D)
G) B) and E)

Question 18

The four major types of limited-service merchant wholesalers are rack jobbers, cash and carry wholesalers, truck jobbers, and __________.

Accepted Answer

A)  machine vendors
B)  credit line wholesalers
C)  transport vendors
D)  container transport vendors
E)  desk jobbersF) A) and B)
G) B) and E)

Question 19

A business in Kansas City, Missouri, looking to rent office space should use a(n)  __________ to help it locate the most suitable space at the best possible rate.

Accepted Answer

A)  selling agent
B)  manufacturer's representative
C)  manufacturer's agent
D)  administrator
E)  brokerF) A) and D)
G) C) and D)

Question 20

The largest inventory of wedding dresses in the Southeast can be found at Low's Bridal and Formal in Brinkley, Arkansas. From December 26 to January 16, a prospective bride shopping at Low's can find gowns once priced at $6,000 for $2,999 and $800 gowns for $399. The reduced prices of these gowns are reflected in which retail pricing strategy?

Accepted Answer

A)  markdowns
B)  original markups
C)  future markups
D)  inventory shrinkages
E)  net markupsF) A) and B)
G) C) and D)

Exam 13: Retailing and Wholesaling

Not every suburban store is located in a shopping mall. Many neighborhoods have clusters of stores, referred to as a strip mall, to serve people who are within a 5- to 10-minute drive. Unlike the larger shopping centers, the composition of these clusters usually __________.

Correct Answer
verified

Vending machines are an example of __________.

Correct Answer
verified

Most specialty stores and department stores, which provide many services to their customers, are considered to be __________.

Correct Answer
verified

The revolutionary new __________ resembles a pair of eyeglasses that has both the capability for voice recognition and a small screen capable of displaying information that may help wearers with their shopping experiences as they engage in the purchase decision process.

Correct Answer
verified

A business in Kansas City, Missouri, looking to rent office space should use a(n) __________ to help it locate the most suitable space at the best possible rate.

Correct Answer
verified

The activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise are referred to as the __________.

Correct Answer
verified

Improvements in which form of nonstore retailing include touchscreens, credit card readers, wireless payment technology, and better energy efficiency?

Correct Answer
verified

Correct Answer
verified

Walmart recently introduced its Site-to-Store service that

Correct Answer
verified

A large assortment of each item within a product line in a store is referred to as

Correct Answer
verified

Identify and describe the functions of agents and brokers.

Correct Answer
verified
Agents and brokers do not take title to ...
View Answer

Correct Answer
verified

A significant difference between the Mall of America and other regional shopping centers is that

Correct Answer
verified

There are three general forms of retail ownership: contractual system, corporate chain, and __________.

Correct Answer
verified

McDonald's, Radio Shack, and Subway are examples of __________.

Correct Answer
verified

The four major types of limited-service merchant wholesalers are rack jobbers, cash and carry wholesalers, truck jobbers, and __________.

Correct Answer
verified

Prices in vending machines tend to be higher because

Correct Answer
verified

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

Correct Answer
verified

Albertson's Supermarket accepts debit and credit cards as well as cash and checks for purchases. Its acceptance of various forms of payment provides its customers with __________ utility.

Correct Answer
verified

One way neighborhood grocers can take advantage of volume discounts commonly available to corporate chains is to

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Not every suburban store is located in a shopping mall. Many neighborhoods have clusters of stores, referred to as a strip mall, to serve people who are within a 5- to 10-minute drive. Unlike the larger shopping centers, the composition of these clusters usually __________.

Correct AnswerverifiedShow Answer

Vending machines are an example of __________.

Correct AnswerverifiedShow Answer

Most specialty stores and department stores, which provide many services to their customers, are considered to be __________.

Correct AnswerverifiedShow Answer

The revolutionary new __________ resembles a pair of eyeglasses that has both the capability for voice recognition and a small screen capable of displaying information that may help wearers with their shopping experiences as they engage in the purchase decision process.

Correct AnswerverifiedShow Answer

A business in Kansas City, Missouri, looking to rent office space should use a(n) __________ to help it locate the most suitable space at the best possible rate.

Correct AnswerverifiedShow Answer

The activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise are referred to as the __________.

Correct AnswerverifiedShow Answer

Improvements in which form of nonstore retailing include touchscreens, credit card readers, wireless payment technology, and better energy efficiency?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Walmart recently introduced its Site-to-Store service that

Correct AnswerverifiedShow Answer

A large assortment of each item within a product line in a store is referred to as

Correct AnswerverifiedShow Answer

Identify and describe the functions of agents and brokers.

Correct AnswerverifiedAgents and brokers do not take title to ...View AnswerShow Answer

Correct AnswerverifiedShow Answer

A significant difference between the Mall of America and other regional shopping centers is that

Correct AnswerverifiedShow Answer

There are three general forms of retail ownership: contractual system, corporate chain, and __________.

Correct AnswerverifiedShow Answer

McDonald's, Radio Shack, and Subway are examples of __________.

Correct AnswerverifiedShow Answer

The four major types of limited-service merchant wholesalers are rack jobbers, cash and carry wholesalers, truck jobbers, and __________.

Correct AnswerverifiedShow Answer

Prices in vending machines tend to be higher because

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Albertson's Supermarket accepts debit and credit cards as well as cash and checks for purchases. Its acceptance of various forms of payment provides its customers with __________ utility.

Correct AnswerverifiedShow Answer

One way neighborhood grocers can take advantage of volume discounts commonly available to corporate chains is to

Correct AnswerverifiedShow Answer

Correct Answer
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verified
Agents and brokers do not take title to ...
View Answer

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