Question 1

Often new models or styles force the price of existing models to be __________.

Accepted Answer

A)   marked up
B)   off-priced
C)   value-subtracted
D)   maintained
E)   marked downF) All of the above
G) B) and D)

Question 2

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

Accepted Answer

A)   display vendors
B)   rack jobbers
C)   point of purchase wholesalers
D)   transport vendors
E)   container transport vendorsF) None of the above
G) A) and C)

Question 3

Loblaws,a Canadian supermarket,features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix,this tactic is related to __________.

Accepted Answer

A)   pricing
B)   goods and services factor
C)   communication
D)   merchandise
E)   locationF) C) and D)
G) B) and C)

Question 4

three commonly used terms to describe levels of service are

Accepted Answer

A)   self-service, limited-service, and full-service.
B)   self-service, sales-service, and customer-service
C)   self-service, automated service, and online-service.
D)   limited-service, full-service, and automated-service.
E)   wholesaler-service, retailer-service, and customer-service.F) C) and D)
G) A) and E)

Question 5

response to the changes in the United States,many direct sellers are implementing a __________ strategy by expanding into other countries with their current product lines.

Accepted Answer

A)   market development
B)   market penetration
C)   accelerated development
D)   product development
E)   diversificationF) A) and B)
G) C) and E)

Question 6

Explain how the wheel of retailing works.

Accepted Answer

The wheel of retailing describes how new...

Question 7

__________carries 4,000 to 8,000 items and usually stocks just one brand of appliance or food product.

Accepted Answer

A)   warehouse club
B)   single-price retailer
C)   extreme value retailer
D)   hypermarket
E)   supercenterF) All of the above
G) A) and B)

Question 8

fast food retailers,including McDonald's and Burger King,have followed a predictable pattern of how new forms of retail outlets enter the marketplace.McDonald's has evolved from a relatively simple restaurant with low margins,low prices,limited product offerings,and low institutional status to a worldwide chain with higher margins,high status,and a diverse menu of products.This evolution of McDonald's restaurants is consistent with the

Accepted Answer

A)   slow to fast food restaurant evolutionary cycle.
B)   revolution of retailing.
C)   retail life cycle.
D)   fast food retail sequence.
E)   wheel of retailing.F) C) and E)
G) B) and C)

Question 9

difference between the final selling price and the retailer's cost is referred to as a(n) __________.

Accepted Answer

A)   original markup
B)   maintained markup
C)   markdown
D)   differential markup
E)   discounted priceF) B) and E)
G) A) and B)

Question 10

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 B)
G) A) and C)

Question 11

Neighborhood grocers that ban together with several other independent grocers who all agree to buy their goods directly from food manufacturers are a form of

Accepted Answer

A)   retailer-sponsored cooperative.
B)   consortium system.
C)   administrative system.
D)   conglomerate system.
E)   collaborate chain.F) None of the above
G) B) and C)

Question 12

Boston Pizza wants to determine how effective their retail format 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)   gross margin
B)   same-store sales growth
C)   sales per square foot
D)   net profit
E)   net present valueF) C) and D)
G) A) and B)

Question 13

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 14

Merchant wholesalers are independently owned firms that __________ the merchandise they handle.

Accepted Answer

A)   take title to
B)   broker
C)   act as agents for
D)   break bulk and repackage
E)   do not deliverF) A) and D)
G) D) and E)

Question 15

Explain the relationship between a franchisee and a franchisor.

Accepted Answer

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

Question 16

Direct selling,sometimes called _________,involves direct sales of goods and services to consumers through personal interactions and demonstrations in their home or office.

Accepted Answer

A)   interface marketing
B)   flex-marketing
C)   interactive selling
D)   responsive selling
E)   door-to-door retailingF) All of the above
G) B) and C)

Question 17

regional bakery makes organic breads and muffins.It feels the choice of distribution channel is critical to the product's success,especially since it wants to have the product distributed nationally.However,it will take some time before sales take off,and the bakery wants to make sure the marketing program is consistent everywhere.It should use

Accepted Answer

A)   a manufacturer's agent to sell to truck jobbers who in turn will deal with retailers.
B)   its own salesforce to sell directly to retailers.
C)   the services of a selling agent to sell to general merchandise wholesalers who will sell to retailers.
D)   a dual distribution system composed of both direct and indirect wholesalers.
E)   a rack jobber who will sell to a merchant wholesaler and who will in turn sell to retailers.F) A) and B)
G) A) and C)

Question 18

Competition for the same or similar type of product or service between very dissimilar types of retail outlets that results from a scrambled merchandising policy is referred to as __________.

Accepted Answer

A)   mixed merchandising
B)   intertype competition
C)   scrambled merchandising
D)   multi-service merchandising
E)   dual distributionF) A) and B)
G) B) and E)

Question 19

Which type of wholesaler carries a broad assortment of merchandise and performs all channel functions?

Accepted Answer

A)   drop shipper
B)   limited-line wholesaler
C)   specialty merchandise wholesaler
D)   rack jobber
E)   general merchandise wholesalerF) A) and E)
G) C) and D)

Question 20

value added dimension of the retail positioning matrix includes elements such as location,prestige,and __________.

Accepted Answer

A)   level of service
B)   market share
C)   price
D)   number of employees
E)   product reliabilityF) D) and E)
G) B) and E)

Exam 16: Retailing and Wholesaling

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

Correct Answer
verified

Often new models or styles force the price of existing models to be __________.

Correct Answer
verified

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

Loblaws,a Canadian supermarket,features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix,this tactic is related to __________.

Correct Answer
verified

Direct selling,sometimes called _________,involves direct sales of goods and services to consumers through personal interactions and demonstrations in their home or office.

Correct Answer
verified

value added dimension of the retail positioning matrix includes elements such as location,prestige,and __________.

Correct Answer
verified

three commonly used terms to describe levels of service are

Correct Answer
verified

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

Correct Answer
verified

__________carries 4,000 to 8,000 items and usually stocks just one brand of appliance or food product.

Correct Answer
verified

Correct Answer
verified

Neighborhood grocers that ban together with several other independent grocers who all agree to buy their goods directly from food manufacturers are a form of

Correct Answer
verified

Explain how the wheel of retailing works.

Correct Answer
verified
The wheel of retailing describes how new...
View Answer

Merchant wholesalers are independently owned firms that __________ the merchandise they handle.

Correct Answer
verified

Competition for the same or similar type of product or service between very dissimilar types of retail outlets that results from a scrambled merchandising policy is referred to as __________.

Correct Answer
verified

Which type of wholesaler carries a broad assortment of merchandise and performs all channel functions?

Correct Answer
verified

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

difference between the final selling price and the retailer's cost is referred to as a(n) __________.

Correct Answer
verified

response to the changes in the United States,many direct sellers are implementing a __________ strategy by expanding into other countries with their current product lines.

Correct Answer
verified

Exam 16: Retailing and Wholesaling

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

Correct AnswerverifiedShow Answer

Often new models or styles force the price of existing models to be __________.

Correct AnswerverifiedShow Answer

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

Loblaws,a Canadian supermarket,features fruits and vegetables piled high on tables that have umbrellas.The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix,this tactic is related to __________.

Correct AnswerverifiedShow Answer

Direct selling,sometimes called _________,involves direct sales of goods and services to consumers through personal interactions and demonstrations in their home or office.

Correct AnswerverifiedShow Answer

value added dimension of the retail positioning matrix includes elements such as location,prestige,and __________.

Correct AnswerverifiedShow Answer

three commonly used terms to describe levels of service are

Correct AnswerverifiedShow 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

Correct AnswerverifiedShow Answer

__________carries 4,000 to 8,000 items and usually stocks just one brand of appliance or food product.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Neighborhood grocers that ban together with several other independent grocers who all agree to buy their goods directly from food manufacturers are a form of

Correct AnswerverifiedShow Answer

Explain how the wheel of retailing works.

Correct AnswerverifiedThe wheel of retailing describes how new...View AnswerShow Answer

Merchant wholesalers are independently owned firms that __________ the merchandise they handle.

Correct AnswerverifiedShow Answer

Competition for the same or similar type of product or service between very dissimilar types of retail outlets that results from a scrambled merchandising policy is referred to as __________.

Correct AnswerverifiedShow Answer

Which type of wholesaler carries a broad assortment of merchandise and performs all channel functions?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Explain the relationship between a franchisee and a franchisor.

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

difference between the final selling price and the retailer's cost is referred to as a(n) __________.

Correct AnswerverifiedShow Answer

response to the changes in the United States,many direct sellers are implementing a __________ strategy by expanding into other countries with their current product lines.

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The wheel of retailing describes how new...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified