Question 1

Explain the difference between a markup, an original markup, and a maintained markup.

Accepted Answer

The markup refers to how much should be ...

Question 2

FIGURE 14-2 
-Staples (see Figure 14-2 above)  are a specialty discount outlet that focuses on one type of product-office supplies.Staples is referred to as a

Accepted Answer

A)  hypermarket
B)  category killer
C)  national dominator
D)  regional dominator
E)  general merchandise storeF) A) and E)
G) B) and C)

Question 3

Outside the United States, large retailers include __________ in Japan, Carrefour in France, Metro Group in Germany, and Tesco in Britain.

Accepted Answer

A)  Daiei
B)  Seebi
C)  Toshi
D)  Toshei
E)  GoshenF) A) and B)
G) None of the above

Question 4

Impressions of the corporation that operates the store, the category or type of store, the product categories in the store, the brands in each category, merchandise and service quality, and the marketing activities of the store can all be projected through

Accepted Answer

A)  written text.
B)  images.
C)  emotional feelings.
D)  everyday fair practices.
E)  psychological attributes.F) D) and E)
G) None of the above

Question 5

Maintained markup refers to

Accepted Answer

A)  the difference between the final selling price and the retailer's cost.
B)  the amount subtracted from the cost the retailer paid for a product to reach the final selling price.
C)  the amount added by the manufacturer to achieve the desired retail price.
D)  facilitating the reduction in retail price, usually expressed as a percentage equal to the amount reduced, divided by the original price, and multiplied by 100.
E)  the highest price listed on the product's sales ticket.F) All of the above
G) A) and E)

Question 6

At the Christmas Tree Shop, customers can shop for Christmas gifts at any time of year.What type of utility does this store primarily create for its customers?

Accepted Answer

A)  place and conformance
B)  possession and form
C)  performance
D)  time
E)  formF) B) and D)
G) A) and B)

Question 7

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)  atmospheric elementsF) B) and E)
G) D) and E)

Question 8

The average U.S.household now receives __________ direct-mail items or catalogs each week.

Accepted Answer

A)  18
B)  23
C)  32
D)  39
E)  47F) None of the above
G) A) and B)

Question 9

All activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family, or household use are referred to as _________.

Accepted Answer

A)  manufacturing
B)  wholesaling
C)  facilitating
D)  retailing
E)  logisticsF) All of the above
G) B) and E)

Question 10

Which limited-service wholesalers perform no facilitating functions?

Accepted Answer

A)  selling agents and drop shippers
B)  manufacturers' agents and selling agents
C)  specialty merchandise wholesalers and rack jobbers
D)  brokers and general merchandise wholesalers
E)  cash and carry wholesalers and truck jobbersF) A) and D)
G) A) and C)

Question 11

In the past, television home shopping programs have attracted mostly

Accepted Answer

A)  20 to 30 year old women.
B)  30 to 40 year old women.
C)  40 to 50 year old women.
D)  40 to 60 year old women.
E)  50 to 50 year old women.F) None of the above
G) A) and D)

Question 12

Walmart recently introduced "site-to-store" service that

Accepted Answer

A)  offers shoppers a virtual reality shopping experience from their home computers.
B)  allows customers to place lay-away orders online and keep them at the store until they are fully paid.
C)  allows customers to order online and pick up the order without a shipping fee at the store of their choice.
D)  allows customers to surf the net to compare prices.If they find a better deal, they can e-mail Walmart and Walmart will honor the competitor's price.
E)  allows customers hold on-line auctions for Walmart overstock or seasonal items that are being taken off the shelves to make room for new inventory.F) A) and B)
G) A) and E)

Question 13

Explain the difference between full-service and limited-service merchant wholesalers.List and describe the types of wholesalers that belong in each category.

Accepted Answer

Merchant wholesalers are classified eith...

Question 14

An approach to managing the assortment of merchandise in which a manger 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)  efficient consumer response
B)  automatic reordering
C)  retail inventory management
D)  category management
E)  autocratic inventory controlF) B) and E)
G) C) and D)

Question 15

Online retail purchases can be the result of several very different approaches which include (1)  paying dues to become a member of an online discount service, (2)  using a "bot" to search for a product at the best price, (3)  going directly to online malls, and (4)

Accepted Answer

A)  participating in an online auction.
B)  becoming a secret shopper.
C)  becoming an ultimate shopper.
D)  participating in a buying cooperative.
E)  becoming a member of a research group that evaluates new products.F) B) and D)
G) A) and B)

Question 16

Dominion is a Canadian supermarket.Recently, it began its Baby Club program, which mails members a $20 gift certificate when they purchase a certain dollar amount of infant products.By offering this and similar loyalty-type programs, Dominion is trying to

Accepted Answer

A)  move from limited service to full-service.
B)  move from self-service to full-service.
C)  become more self-service.
D)  move from self-service to limited service.
E)  offer full-service at self-service prices.F) A) and C)
G) B) and C)

Question 17

Most stores today are near several others in one of five settings: the central business district, the regional center, the community shopping center, power center, or _________.

Accepted Answer

A)  main street
B)  office complex
C)  the strip mall
D)  urban megacenter
E)  suburban crossroadsF) A) and E)
G) A) and D)

Question 18

A customer was unable to go to the store on her own to buy gifts for the holidays.She contacted a Tupperware 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) C) and E)
G) A) and D)

Question 19

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

Accepted Answer

A)  individual
B)  dual ownership
C)  industry consortiums
D)  non-binding cooperative
E)  multi-national cartelF) A) and B)
G) None of the above

Question 20

Figure 14-9 
-According to Figure 14-9 above, outlets would add additional services between cells

Accepted Answer

A)  1 and 3
B)  3 and 4
C)  4 and 1
D)  between all cells
E)  services are deleted rather than addedF) D) and E)
G) All of the above

Exam 14: Retailing and Wholesaling

Maintained markup refers to

Correct Answer
verified

Dominion is a Canadian supermarket.Recently, it began its Baby Club program, which mails members a $20 gift certificate when they purchase a certain dollar amount of infant products.By offering this and similar loyalty-type programs, Dominion is trying to

Correct Answer
verified

Walmart recently introduced "site-to-store" service that

Correct Answer
verified

Most stores today are near several others in one of five settings: the central business district, the regional center, the community shopping center, power center, or _________.

Correct Answer
verified

Online retail purchases can be the result of several very different approaches which include (1) paying dues to become a member of an online discount service, (2) using a "bot" to search for a product at the best price, (3) going directly to online malls, and (4)

Correct Answer
verified

In the past, television home shopping programs have attracted mostly

Correct Answer
verified

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

Correct Answer
verified

At the Christmas Tree Shop, customers can shop for Christmas gifts at any time of year.What type of utility does this store primarily create for its customers?

Correct Answer
verified

FIGURE 14-2 -Staples (see Figure 14-2 above) are a specialty discount outlet that focuses on one type of product-office supplies.Staples is referred to as a

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Explain the difference between full-service and limited-service merchant wholesalers.List and describe the types of wholesalers that belong in each category.

Correct Answer
verified
Merchant wholesalers are classified eith...
View Answer

Impressions of the corporation that operates the store, the category or type of store, the product categories in the store, the brands in each category, merchandise and service quality, and the marketing activities of the store can all be projected through

Correct Answer
verified

Figure 14-9 -According to Figure 14-9 above, outlets would add additional services between cells

Correct Answer
verified

Which limited-service wholesalers perform no facilitating functions?

Correct Answer
verified

The average U.S.household now receives __________ direct-mail items or catalogs each week.

Correct Answer
verified

Outside the United States, large retailers include __________ in Japan, Carrefour in France, Metro Group in Germany, and Tesco in Britain.

Correct Answer
verified

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

Correct Answer
verified

All activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family, or household use are referred to as _________.

Correct Answer
verified

Explain the difference between a markup, an original markup, and a maintained markup.

Correct Answer
verified
The markup refers to how much should be ...
View Answer

Exam 14: Retailing and Wholesaling

Maintained markup refers to

Correct AnswerverifiedShow Answer

Dominion is a Canadian supermarket.Recently, it began its Baby Club program, which mails members a $20 gift certificate when they purchase a certain dollar amount of infant products.By offering this and similar loyalty-type programs, Dominion is trying to

Correct AnswerverifiedShow Answer

Walmart recently introduced "site-to-store" service that

Correct AnswerverifiedShow Answer

Most stores today are near several others in one of five settings: the central business district, the regional center, the community shopping center, power center, or _________.

Correct AnswerverifiedShow Answer

Online retail purchases can be the result of several very different approaches which include (1) paying dues to become a member of an online discount service, (2) using a "bot" to search for a product at the best price, (3) going directly to online malls, and (4)

Correct AnswerverifiedShow Answer

In the past, television home shopping programs have attracted mostly

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

At the Christmas Tree Shop, customers can shop for Christmas gifts at any time of year.What type of utility does this store primarily create for its customers?

Correct AnswerverifiedShow Answer

FIGURE 14-2 -Staples (see Figure 14-2 above) are a specialty discount outlet that focuses on one type of product-office supplies.Staples is referred to as a

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Explain the difference between full-service and limited-service merchant wholesalers.List and describe the types of wholesalers that belong in each category.

Correct AnswerverifiedMerchant wholesalers are classified eith...View AnswerShow Answer

Impressions of the corporation that operates the store, the category or type of store, the product categories in the store, the brands in each category, merchandise and service quality, and the marketing activities of the store can all be projected through

Correct AnswerverifiedShow Answer

Figure 14-9 -According to Figure 14-9 above, outlets would add additional services between cells

Correct AnswerverifiedShow Answer

Which limited-service wholesalers perform no facilitating functions?

Correct AnswerverifiedShow Answer

The average U.S.household now receives __________ direct-mail items or catalogs each week.

Correct AnswerverifiedShow Answer

Outside the United States, large retailers include __________ in Japan, Carrefour in France, Metro Group in Germany, and Tesco in Britain.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

All activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family, or household use are referred to as _________.

Correct AnswerverifiedShow Answer

Explain the difference between a markup, an original markup, and a maintained markup.

Correct AnswerverifiedThe markup refers to how much should be ...View AnswerShow Answer

Correct Answer
verified

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verified

Correct Answer
verified
Merchant wholesalers are classified eith...
View Answer

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verified

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verified

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verified

Correct Answer
verified

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The markup refers to how much should be ...
View Answer