Question 1

Which method of classifying retail outlets would be most appropriate for describing franchise operations?

Accepted Answer

A)  form of ownership
B)  level of service
C)  merchandise line
D)  method of operation
E)  revenues generatedF) C) and D)
G) A) and D)

Question 2

Most stores today are in one of four settings that include all of the following EXCEPT:

Accepted Answer

A)  the regional shopping center.
B)  the strip mall.
C)  the uptown shopping center.
D)  the central business district.
E)  the power center.F) A) and E)
G) A) and D)

Question 3

There are three general forms of retail ownership: contractual system,independent retailer,and __________.

Accepted Answer

A)  dual ownership
B)  industry consortium
C)  retailing cooperative
D)  multi-national cartel
E)  corporate chainF) B) and E)
G) A) and B)

Question 4

The Direct Selling Association reports that the number of companies using direct selling has __________ in the past five years.

Accepted Answer

A)  increased by 10 percent
B)  increased by 30 percent
C)  increased by 50 percent
D)  decreased by 20 percent
E)  decreased by 40 percentF) B) and C)
G) None of the above

Question 5

Wholesalers who take title to merchandise but sell only to buyers who call on them,pay cash for merchandise,and furnish their own transportation for merchandise are referred to as __________.

Accepted Answer

A)  rack jobbers
B)  truck jobbers
C)  transport vendors
D)  cash and carry wholesalers
E)  drop shippersF) None of the above
G) D) and E)

Question 6

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) None of the above
G) A) and C)

Question 7

The level of service that requires that the customers themselves to perform many functions during the purchase process is __________.

Accepted Answer

A)  full-service
B)  limited-service
C)  self-service
D)  customized-service
E)  automated-serviceF) A) and B)
G) C) and D)

Question 8

Which of the following statements regarding QVC is most accurate?

Accepted Answer

A)  QVC broadcasts 12 hours a day 365 days a year.
B)  QVC reaches approximately 200 million households in the U.S.,U.K.,Germany,Italy,and Japan.
C)  QVC never offers the same product two days in a row.
D)  QVC sells all its items by dropping the price to $1.00 regardless of the product value,if it is not sold in one day.
E)  QVC entices customers to "stay tuned" by offering free products to random callers.F) None of the above
G) D) and E)

Question 9

Originally,filters for Mr.Coffee electric-drip coffee makers were sold through appliance and mass merchandise stores.If the company decided to sell the filters in grocery stores where customers purchased their coffee,what type of intermediaries would the company most likely hire?

Accepted Answer

A)  a full-line wholesaler
B)  drop shippers
C)  food brokers
D)  truck jobbers
E)  manufacturer's representativesF) B) and E)
G) All of the above

Question 10

Which type of utility is created by online shopping?

Accepted Answer

A)  time
B)  price
C)  product
D)  process
E)  promotionF) A) and B)
G) D) and E)

Question 11

__________ retailers use a combination of traditional store formats and nonstore formats.

Accepted Answer

A)  Progressive
B)  Opportunistic
C)  Multichannel
D)  Cluster
E)  PowerF) A) and D)
G) C) and E)

Question 12

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) A) and E)

Question 13

About 29 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) A) and B)
G) A) and C)

Question 14

What type of contractual system describes a situation where assistance in selecting the location,setting up the store or facility,advertising,and training personnel is provided by the parent company?

Accepted Answer

A)  administered system
B)  conglomerate system
C)  franchise system
D)  vertical integrated system
E)  retail-sponsored cooperativeF) C) and E)
G) All of the above

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 single sale can be made,this website can be categorized as a(n) __________.

Accepted Answer

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

Question 16

The major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers __________ and discount stores buy from wholesalers __________.

Accepted Answer

A)  who are trying to offload returned or slightly irregular inventory; selling new but inexpensive merchandise
B)  at below wholesale prices; and charge a high initial price with the full intent of taking markdowns later
C)  at below wholesale prices; at full price but take a less of a markup
D)  at various price points; at the lowest price points possible
E)  who are part of a retailing cooperative; who are part of a wholesaling cooperativeF) None of the above
G) All of the above

Question 17

Coal,lumber,and chemicals,which are sold in extremely large quantities are traditionally sold by which type of wholesaler?

Accepted Answer

A)  cash and carry wholesalers
B)  rack jobbers
C)  truck jobbers
D)  general merchandise wholesalers
E)  drop shippersF) A) and E)
G) C) and D)

Question 18

Retailers have come to realize that consumers want products that are consistent with their personal values and

Accepted Answer

A)  foreign regulations.
B)  meet third party certifications.
C)  they want to purchase them from retailers with similar values.
D)  cost less.
E)  social image.F) C) and E)
G) B) and C)

Question 19

An indicator used to compare the increase in sales of stores that have been open for the same period of time is called

Accepted Answer

A)  market share of each store.
B)  same-store sales growth.
C)  sales per square foot of each store.
D)  gross sales per store.
E)  net profit per store.F) None of the above
G) B) and C)

Question 20

In the past,television home shopping programs have attracted mostly

Accepted Answer

A)  20 to 30 year old men.
B)  30 to 40 year old women.
C)  40 to 50 year old men.
D)  40 to 60 year old women.
E)  50 to 60 year old men.F) B) and D)
G) A) and B)

Exam 13: Retailing and Wholesaling

Retailers have come to realize that consumers want products that are consistent with their personal values and

Correct Answer
verified

In the past,television home shopping programs have attracted mostly

Correct Answer
verified

Which method of classifying retail outlets would be most appropriate for describing franchise operations?

Correct Answer
verified

An indicator used to compare the increase in sales of stores that have been open for the same period of time is called

Correct Answer
verified

There are three general forms of retail ownership: contractual system,independent retailer,and __________.

Correct Answer
verified

Which type of utility is created by online shopping?

Correct Answer
verified

Coal,lumber,and chemicals,which are sold in extremely large quantities are traditionally sold by which type of wholesaler?

Correct Answer
verified

Wholesalers who take title to merchandise but sell only to buyers who call on them,pay cash for merchandise,and furnish their own transportation for merchandise are referred to as __________.

Correct Answer
verified

Which of the following statements regarding QVC is most accurate?

Correct Answer
verified

The level of service that requires that the customers themselves to perform many functions during the purchase process is __________.

Correct Answer
verified

About 29 percent of the products sold from vending machines are __________.

Correct Answer
verified

__________ retailers use a combination of traditional store formats and nonstore formats.

Correct Answer
verified

Most stores today are in one of four settings that include all of the following EXCEPT:

Correct Answer
verified

What type of contractual system describes a situation where assistance in selecting the location,setting up the store or facility,advertising,and training personnel is provided by the parent company?

Correct Answer
verified

Originally,filters for Mr.Coffee electric-drip coffee makers were sold through appliance and mass merchandise stores.If the company decided to sell the filters in grocery stores where customers purchased their coffee,what type of intermediaries would the company most likely hire?

Correct Answer
verified

The Direct Selling Association reports that the number of companies using direct selling has __________ in the past five years.

Correct Answer
verified

Which of the following is an example of nonstore retailing?

Correct Answer
verified

The major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers and discount stores buy from wholesalers .

Correct Answer
verified

Another term for maintained markup is __________.

Correct Answer
verified

Correct Answer
verified

Exam 13: Retailing and Wholesaling

Retailers have come to realize that consumers want products that are consistent with their personal values and

Correct AnswerverifiedShow Answer

In the past,television home shopping programs have attracted mostly

Correct AnswerverifiedShow Answer

Which method of classifying retail outlets would be most appropriate for describing franchise operations?

Correct AnswerverifiedShow Answer

An indicator used to compare the increase in sales of stores that have been open for the same period of time is called

Correct AnswerverifiedShow Answer

There are three general forms of retail ownership: contractual system,independent retailer,and __________.

Correct AnswerverifiedShow Answer

Which type of utility is created by online shopping?

Correct AnswerverifiedShow Answer

Coal,lumber,and chemicals,which are sold in extremely large quantities are traditionally sold by which type of wholesaler?

Correct AnswerverifiedShow Answer

Wholesalers who take title to merchandise but sell only to buyers who call on them,pay cash for merchandise,and furnish their own transportation for merchandise are referred to as __________.

Correct AnswerverifiedShow Answer

Which of the following statements regarding QVC is most accurate?

Correct AnswerverifiedShow Answer

The level of service that requires that the customers themselves to perform many functions during the purchase process is __________.

Correct AnswerverifiedShow Answer

About 29 percent of the products sold from vending machines are __________.

Correct AnswerverifiedShow Answer

__________ retailers use a combination of traditional store formats and nonstore formats.

Correct AnswerverifiedShow Answer

Most stores today are in one of four settings that include all of the following EXCEPT:

Correct AnswerverifiedShow Answer

What type of contractual system describes a situation where assistance in selecting the location,setting up the store or facility,advertising,and training personnel is provided by the parent company?

Correct AnswerverifiedShow Answer

Originally,filters for Mr.Coffee electric-drip coffee makers were sold through appliance and mass merchandise stores.If the company decided to sell the filters in grocery stores where customers purchased their coffee,what type of intermediaries would the company most likely hire?

Correct AnswerverifiedShow Answer

The Direct Selling Association reports that the number of companies using direct selling has __________ in the past five years.

Correct AnswerverifiedShow Answer

Which of the following is an example of nonstore retailing?

Correct AnswerverifiedShow Answer

The major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers __________ and discount stores buy from wholesalers __________.

Correct AnswerverifiedShow Answer

Another term for maintained markup is __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
verified

The major difference between an off-price retailer and a discount store is that off-price retailers purchase merchandise from manufacturers and discount stores buy from wholesalers .

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified