Question 1

To increase demand for complementary products, the price of a product must often be

Accepted Answer

A)  marked up.
B)  marked down.
C)  off-priced.
D)  value-added.
E)  maintained.F) A) and C)
G) A) and E)

Question 2

According to the Direct Marketing Association, annual telemarketing sales exceed _________.

Accepted Answer

A)  10 billion
B)  28 billion
C)  137 billion
D)  330 billion
E)  500 billionF) All of the above
G) C) and E)

Question 3

Both market share and profit achieve their greatest growth rates during which stage of the retail life cycle?

Accepted Answer

A)  decline
B)  maturity
C)  introduction
D)  early growth
E)  accelerated developmentF) B) and D)
G) A) and E)

Question 4

A cluster of neighborhood stores designed to serve people within a 5-to 10-minute drive, is referred to as a(n)

Accepted Answer

A)  suburban shopping mall.
B)  community shopping center.
C)  mini-market.
D)  strip mall.
E)  central business district.F) B) and D)
G) A) and C)

Question 5

The purpose of the OfficeMax "Elf Yourself" program which allows visitors to e-mail an animated elf to friends is to

Accepted Answer

A)  encourage computer users to drive traffic to the OfficeMax Web site.
B)  subliminally connect their elves to Christmas elves, which would tempt customers to shop not just for themselves but for others.
C)  encourage people to let their "elves" help them make their way through the OfficeMax web site.
D)  create a more people-friendly connection to the OfficeMax name which is often tied to an image of a business supply store rather than a store for personal needs.
E)  connect the diminutive size of elves to the "smaller" ticket items that can be used as "stocking stuffers."F) A) and B)
G) B) and C)

Question 6

Explain the global impact of retailing.

Accepted Answer

Retailing is important to the U.S.and gl...

Question 7

Multichannel retailer refers to

Accepted Answer

A)  retailers that sell different products through entirely different channels.
B)  retailers that sell through different channels under different brand names.
C)  a channel that performs all functions that were traditionally performed by nonrelated channels.
D)  retailers that utilize and integrate a combination of traditional store formats and nonstore formats such catalogs, television, and online retailing.
E)  retailers that combine two channels for their offerings; one specializing in the tangible product and the other addressing the needs of the services to support it.F) A) and B)
G) B) and C)

Question 8

Wholesalers who handle a limited assortment of fast-moving or perishable items that are sold for cash directly from trucks in their original packages are referred to as _________.

Accepted Answer

A)  rack jobbers
B)  drop shippers
C)  truck jobbers
D)  cash and carry wholesalers
E)  manufacturer's representativesF) A) and E)
G) C) and D)

Question 9

Describe the retail life cycle.

Accepted Answer

The retail life cycle describes the proc...

Question 10

When consumers learned that food packaging creates __________ percent of all household waste they added packaging to their purchase decision criteria.

Accepted Answer

A)  30
B)  35
C)  40
D)  45
E)  50F) C) and D)
G) A) and B)

Question 11

About 48 percent of the products sold from vending machines are _________.

Accepted Answer

A)  candy and snacks
B)  personal items
C)  movies and videos
D)  cold beverages
E)  foodF) D) and E)
G) All of the above

Question 12

Selling agents refer to

Accepted Answer

A)  agents who furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.
B)  agents who represent a single producer and are responsible for the entire marketing function of that producer.
C)  agents who work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.
D)  agents who take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for the merchandise.
E)  agents who sell primarily large bulky products.F) None of the above
G) A) and C)

Question 13

Unlike merchant wholesalers, agents, and brokers, manufacturer's branches and sales offices are __________ that perform wholesaling activities.

Accepted Answer

A)  independent distribution managers
B)  independent intermediary channels
C)  wholly owned extensions of the producer
D)  wholly owned extensions of the distributor
E)  wholly owned extensions of the retailerF) D) and E)
G) All of the above

Question 14

One of the biggest problems online retailers face is that nearly __________ of online shoppers make it to "checkout" and then leave the Web site to compare shipping costs and prices on other sites.

Accepted Answer

A)  16%
B)  26%
C)  36%
D)  56%
E)  66%F) D) and E)
G) B) and D)

Question 15

When developing marketing strategies, marketing managers use the elements of the marketing mix, which includes product, price, place, and promotion.The marketer can effectively control these elements to develop marketing strategies and to change those strategies in response to environmental changes.In a similar fashion, when developing retailing strategies, marketers use what is called the retailing mix, which includes

Accepted Answer

A)  retail pricing, store location, retail communication, and merchandise.
B)  goods and services, promotions, and communications.
C)  physical distribution, promotions, and communications.
D)  physical distribution, products, and personal selling.
E)  products, price, and personal selling.F) D) and E)
G) B) and E)

Question 16

A huge shopping strip with multiple anchor (or national)  stores is referred to as a _________.

Accepted Answer

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

Question 17

The four utilities offered to consumers through retailing are

Accepted Answer

A)  time, place, form, and possession.
B)  product, price, place, and promotion.
C)  form, possession, time, and performance.
D)  convenience, consistency, competition, and choice.
E)  convenience, performance, possession, and form.F) C) and D)
G) C) and E)

Question 18

Sales of goods and services to consumers through personal interactions and demonstrations in their home or office are referred to as _________.

Accepted Answer

A)  direct selling
B)  interactive selling
C)  responsive selling
D)  customized selling
E)  person-to-person salesF) D) and E)
G) B) and E)

Question 19

Jim Smith is an avid fly fisherman who lives in Deer Key, FL.For his hobby, Jim needs large rubber rafts, chest and hip waders, special fishing rods, reels, and line, and an assortment of fishing tackle and lures.There are no sporting goods stores in Deer Key, so Jim orders his fishing supplies from an L.L.Bean catalog.His supplies are generally delivered to his home within 72 hours.Jim is using a __________ to satisfy his fishing supply needs.

Accepted Answer

A)  home delivery retailer
B)  quick response retailer
C)  direct mail marketer
D)  flex response marketer
E)  regional marketerF) All of the above
G) A) and B)

Question 20

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) B) and D)
G) B) and C)

Exam 14: Retailing and Wholesaling

Multichannel retailer refers to

Correct Answer
verified

A cluster of neighborhood stores designed to serve people within a 5-to 10-minute drive, is referred to as a(n)

Correct Answer
verified

Sales of goods and services to consumers through personal interactions and demonstrations in their home or office are referred to as _________.

Correct Answer
verified

Explain the global impact of retailing.

Correct Answer
verified
Retailing is important to the U.S.and gl...
View Answer

To increase demand for complementary products, the price of a product must often be

Correct Answer
verified

A huge shopping strip with multiple anchor (or national) stores is referred to as a _________.

Correct Answer
verified

Describe the retail life cycle.

Correct Answer
verified
The retail life cycle describes the proc...
View Answer

The four utilities offered to consumers through retailing are

Correct Answer
verified

Wholesalers who handle a limited assortment of fast-moving or perishable items that are sold for cash directly from trucks in their original packages are referred to as _________.

Correct Answer
verified

According to the Direct Marketing Association, annual telemarketing sales exceed _________.

Correct Answer
verified

Correct Answer
verified

When consumers learned that food packaging creates __________ percent of all household waste they added packaging to their purchase decision criteria.

Correct Answer
verified

The purpose of the OfficeMax "Elf Yourself" program which allows visitors to e-mail an animated elf to friends is to

Correct Answer
verified

Both market share and profit achieve their greatest growth rates during which stage of the retail life cycle?

Correct Answer
verified

Unlike merchant wholesalers, agents, and brokers, manufacturer's branches and sales offices are __________ that perform wholesaling activities.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

About 48 percent of the products sold from vending machines are _________.

Correct Answer
verified

Selling agents refer to

Correct Answer
verified

One of the biggest problems online retailers face is that nearly __________ of online shoppers make it to "checkout" and then leave the Web site to compare shipping costs and prices on other sites.

Correct Answer
verified

Exam 14: Retailing and Wholesaling

Multichannel retailer refers to

Correct AnswerverifiedShow Answer

A cluster of neighborhood stores designed to serve people within a 5-to 10-minute drive, is referred to as a(n)

Correct AnswerverifiedShow Answer

Sales of goods and services to consumers through personal interactions and demonstrations in their home or office are referred to as _________.

Correct AnswerverifiedShow Answer

Explain the global impact of retailing.

Correct AnswerverifiedRetailing is important to the U.S.and gl...View AnswerShow Answer

To increase demand for complementary products, the price of a product must often be

Correct AnswerverifiedShow Answer

A huge shopping strip with multiple anchor (or national) stores is referred to as a _________.

Correct AnswerverifiedShow Answer

Describe the retail life cycle.

Correct AnswerverifiedThe retail life cycle describes the proc...View AnswerShow Answer

The four utilities offered to consumers through retailing are

Correct AnswerverifiedShow Answer

Wholesalers who handle a limited assortment of fast-moving or perishable items that are sold for cash directly from trucks in their original packages are referred to as _________.

Correct AnswerverifiedShow Answer

According to the Direct Marketing Association, annual telemarketing sales exceed _________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

When consumers learned that food packaging creates __________ percent of all household waste they added packaging to their purchase decision criteria.

Correct AnswerverifiedShow Answer

The purpose of the OfficeMax "Elf Yourself" program which allows visitors to e-mail an animated elf to friends is to

Correct AnswerverifiedShow Answer

Both market share and profit achieve their greatest growth rates during which stage of the retail life cycle?

Correct AnswerverifiedShow Answer

Unlike merchant wholesalers, agents, and brokers, manufacturer's branches and sales offices are __________ that perform wholesaling activities.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

About 48 percent of the products sold from vending machines are _________.

Correct AnswerverifiedShow Answer

Selling agents refer to

Correct AnswerverifiedShow Answer

One of the biggest problems online retailers face is that nearly __________ of online shoppers make it to "checkout" and then leave the Web site to compare shipping costs and prices on other sites.

Correct AnswerverifiedShow Answer

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Retailing is important to the U.S.and gl...
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The retail life cycle describes the proc...
View Answer

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