Question 1

Another term for maintained markup is __________.

Accepted Answer

A)   original markup
B)   maintained markup
C)   markdown
D)   gross margin
E)   net marginF) A) and B)
G) None of the above

Question 2

Sales per square foot is calculated by

Accepted Answer

A)   dividing total sales by selling area in square feet.
B)   dividing profit margin by selling area in square feet.
C)   dividing gross profit by selling area in square feet.
D)   dividing return on investment by selling area in square feet.
E)   dividing net sales by selling area in square feet.F) A) and E)
G) C) and D)

Question 3

of the 30 largest businesses in the United States are retailers-Walmart,Costco,Home Depot,and _________.

Accepted Answer

A)   Sears
B)   Target
C)   Best Buy
D)   JC Penney
E)   BloomingdaleF) A) and B)
G) A) and C)

Question 4

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

Accepted Answer

Vending machine maintenance,op...

Question 5

is a television home shopping network.It generates sales of more than $7 billion from its 60 million customers by

Accepted Answer

A)   restricting purchases only through its Mall of America studio.
B)   broadcasting live twelve hours a day 365 days a year.
C)   offering more than 1,150 products each week.
D)   offering overstocked items from retailers at a fraction of the original cost.
E)   running live podcasts and live streaming over the InternetF) A) and C)
G) A) and B)

Question 6

Which type of outlet is most likely in its early growth stage of the retail life cycle?

Accepted Answer

A)   single-price stores
B)   online retailers
C)   supermarkets
D)   warehouse clubs
E)   business-district retailersF) A) and E)
G) D) and E)

Question 7

Online retail purchases by consumers can be the result of several very different approaches,which include: (1) using a shopping "bot" to search for a product at the best price; (2) participating in an online auction; (3) going directly to online malls; and (4)

Accepted Answer

A)   paying dues to become a member of an online discount service.
B)   becoming a secret shopper.
C)   participating in a buying cooperative.
D)   becoming a PURL.
E)   becoming a member of a research group that evaluates new products.F) None of the above
G) All of the above

Question 8

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) All of the above
G) A) and B)

Question 9

While it is possible for a multichannel retailer to somewhat cannibalize its catalog business with its online retailing,the positive tradeoff is

Accepted Answer

A)   there is greater product awareness.
B)   online retailing is a greater relationship-building medium.
C)   an online transaction costs about half as much to process as a catalog order.
D)   consumers make more impulse buys.
E)   online retailing can provide the consumer with a more tangible decision-making tool.F) All of the above
G) None of the above

Question 10

local Safeway grocery store is likely to be categorized according to what form of ownership,level of service,or merchandise line?

Accepted Answer

A)   form of ownership
B)   level of service
C)   merchandise line
D)   method of operation
E)   revenue generatedF) All of the above
G) B) and C)

Question 11

Foursquare,Gowalla,Booyah,Brightkite,and Loopt are

Accepted Answer

A)   multiplayer video games.
B)   advertising agencies.
C)   location-based social networking apps for smartphones.
D)   names of new phones targeted at college students.
E)   restaurants with new food concepts.F) D) and E)
G) None of the above

Question 12

Intangibles such as a sense of belonging,excitement,style,or warmth are considered to be __________ of a store's image.

Accepted Answer

A)   functional qualities
B)   sociological qualities
C)   psychological attributes
D)   antecedent attributes
E)   personality elementsF) B) and E)
G) A) and B)

Question 13

Experts suggest that online retailers should think of their websites as __________ if they are to attract and retain customers.

Accepted Answer

A)   cash cows
B)   dynamic billboards
C)   virtual reality stores
D)   traditional retail stores
E)   online entertainmentF) A) and B)
G) A) and C)

Question 14

Explain why direct mail is an attractive form of retailing

Accepted Answer

Direct mail retailing is attractive beca...

Question 15

Freightfinder.com is an Internet company that is called a "go-between." If a trucker needs to find a load for a particular trade lane,he or she can visit this site,list the price and available truck space,and find a company that needs a shipment moved.Since the purpose of this website is to put buyer and sellers together so that a sale can be made,this website can be categorized as a__________.

Accepted Answer

A)   broker
B)   selling agent
C)   manufacturer's representative
D)   manufacturer's agent
E)   administratorF) A) and D)
G) A) and C)

Question 16

is category management and when is it used?

Accepted Answer

Category management is used to manage th...

Question 17

term truck jobbers refers to wholesalers who

Accepted Answer

A)   furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.
B)   store all the merchandise they sell in their trucks.
C)   own the merchandise they sell but do not physically handle, stock, or deliver it.
D)   have a small warehouse from which they stock their trucks for distribution to retailers.
E)   work for several producers, carry noncompetitive, complementary merchandise in an exclusive territory, and use over-the-road transportation for all product deliveries.F) C) and D)
G) A) and B)

Question 18

markdown refers to

Accepted Answer

A)   the difference between the final selling price and the retailer's cost.
B)   the amount the manufacturer adds to achieve the desired suggested retail price.
C)   discounting a product when the product does not sell at the original price.
D)   the lowest price to which a retailer can reduce a sales ticket and still make a profit.
E)   the net margin.F) C) and D)
G) A) and C)

Question 19

Which of the following is an example of nonstore retailing?

Accepted Answer

A)   hypermarkets
B)   supercenters
C)   shopping centers
D)   vending machines
E)   general merchandise storesF) C) and D)
G) A) and E)

Question 20

Prices in vending machines tend to be higher because

Accepted Answer

A)   machines are placed in high 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) A) and E)
G) C) and E)

Exam 16: Retailing and Wholesaling

Multichannel retailers are retailers that

Correct Answer
verified

Another term for maintained markup is __________.

Correct Answer
verified

is category management and when is it used?

Correct Answer
verified
Category management is used to manage th...
View Answer

Intangibles such as a sense of belonging,excitement,style,or warmth are considered to be __________ of a store's image.

Correct Answer
verified

markdown refers to

Correct Answer
verified

Experts suggest that online retailers should think of their websites as __________ if they are to attract and retain customers.

Correct Answer
verified

Prices in vending machines tend to be higher because

Correct Answer
verified

Which of the following is an example of nonstore retailing?

Correct Answer
verified

Foursquare,Gowalla,Booyah,Brightkite,and Loopt are

Correct Answer
verified

term truck jobbers refers to wholesalers who

Correct Answer
verified

Explain why direct mail is an attractive form of retailing

Correct Answer
verified
Direct mail retailing is attractive beca...
View Answer

While it is possible for a multichannel retailer to somewhat cannibalize its catalog business with its online retailing,the positive tradeoff is

Correct Answer
verified

local Safeway grocery store is likely to be categorized according to what form of ownership,level of service,or merchandise line?

Correct Answer
verified

of the 30 largest businesses in the United States are retailers-Walmart,Costco,Home Depot,and _________.

Correct Answer
verified

Sales per square foot is calculated by

Correct Answer
verified

Online retail purchases by consumers can be the result of several very different approaches,which include: (1) using a shopping "bot" to search for a product at the best price; (2) participating in an online auction; (3) going directly to online malls; and (4)

Correct Answer
verified

is a television home shopping network.It generates sales of more than $7 billion from its 60 million customers by

Correct Answer
verified

Which type of outlet is most likely in its early growth stage of the retail life cycle?

Correct Answer
verified

Correct Answer
verified

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

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

Exam 16: Retailing and Wholesaling

Multichannel retailers are retailers that

Correct AnswerverifiedShow Answer

Another term for maintained markup is __________.

Correct AnswerverifiedShow Answer

is category management and when is it used?

Correct AnswerverifiedCategory management is used to manage th...View AnswerShow Answer

Intangibles such as a sense of belonging,excitement,style,or warmth are considered to be __________ of a store's image.

Correct AnswerverifiedShow Answer

markdown refers to

Correct AnswerverifiedShow Answer

Experts suggest that online retailers should think of their websites as __________ if they are to attract and retain customers.

Correct AnswerverifiedShow Answer

Prices in vending machines tend to be higher because

Correct AnswerverifiedShow Answer

Which of the following is an example of nonstore retailing?

Correct AnswerverifiedShow Answer

Foursquare,Gowalla,Booyah,Brightkite,and Loopt are

Correct AnswerverifiedShow Answer

term truck jobbers refers to wholesalers who

Correct AnswerverifiedShow Answer

Explain why direct mail is an attractive form of retailing

Correct AnswerverifiedDirect mail retailing is attractive beca...View AnswerShow Answer

While it is possible for a multichannel retailer to somewhat cannibalize its catalog business with its online retailing,the positive tradeoff is

Correct AnswerverifiedShow Answer

local Safeway grocery store is likely to be categorized according to what form of ownership,level of service,or merchandise line?

Correct AnswerverifiedShow Answer

of the 30 largest businesses in the United States are retailers-Walmart,Costco,Home Depot,and _________.

Correct AnswerverifiedShow Answer

Sales per square foot is calculated by

Correct AnswerverifiedShow Answer

Online retail purchases by consumers can be the result of several very different approaches,which include: (1) using a shopping "bot" to search for a product at the best price; (2) participating in an online auction; (3) going directly to online malls; and (4)

Correct AnswerverifiedShow Answer

is a television home shopping network.It generates sales of more than $7 billion from its 60 million customers by

Correct AnswerverifiedShow Answer

Which type of outlet is most likely in its early growth stage of the retail life cycle?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

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

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Category management is used to manage th...
View Answer

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Direct mail retailing is attractive beca...
View Answer

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Vending machine maintenance,op...
View Answer