Question 1

Intermediaries that represent a single producer and are responsible for designing promotional plans, setting prices, determining distribution policies, and making recommendations on product strategy are referred to as

Accepted Answer

A)  brokers.
B)  line brokers.
C)  distribution brokers.
D)  selling agents.
E)  manufacturer's agents.F) B) and D)
G) B) and E)

Question 2

The three basic types of contractual systems are

Accepted Answer

A)  retailer-sponsored cooperatives, wholesaler-sponsored voluntary chains, and franchises.
B)  dual ownership agreements, industry consortiums, and nonbinding cooperatives.
C)  wholesaler-sponsored voluntary chains, nonbinding cooperatives, and franchises.
D)  dual ownership agreements, industry consortiums, and multinational cartels.
E)  nonbinding, binding, and in perpetuity.F) A) and E)
G) B) and E)

Question 3

The use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store is referred to as

Accepted Answer

A)  functional qualities.
B)  level of service.
C)  shopper marketing.
D)  lifestyle attributes.
E)  psychographic elements.F) All of the above
G) C) and D)

Question 4

Because consumers often use price as an indicator of product quality, what decision factor becomes important in this situation?

Accepted Answer

A)  perceived quality
B)  product benefits
C)  convenience
D)  brand name of the product
E)  maintained priceF) A) and B)
G) B) and C)

Question 5

The sales of products and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as

Accepted Answer

A)  direct selling.
B)  person-to-person sales.
C)  face-to-face selling.
D)  direct-response selling.
E)  customized selling.F) B) and E)
G) A) and C)

Question 6

Companies such as Avon, Fuller Brush, Mary Kay, and World Book are examples of firms that use

Accepted Answer

A)  interface marketing.
B)  flex marketing.
C)  direct selling.
D)  interactive selling.
E)  responsive selling.F) None of the above
G) C) and E)

Question 7

In the telemarketing industry, issues such as consumer privacy, __________, and industry standards have become a topic of discussion among consumers, Congress, the Federal Trade Commission (FTC) , and businesses.

Accepted Answer

A)  product quality
B)  price differences
C)  ethical guidelines
D)  on-time delivery
E)  competitive anticsF) A) and C)
G) A) and B)

Question 8

Which of the following firms has made the wisest wholesaler choice for its product?

Accepted Answer

A)  Sam's Coal Country uses a drop shipper for its coal.
B)  Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs.
C)  Hannah's Hardware uses a rack jobber for its hinges.
D)  Shayna's Superior Supplies uses a desk jobber for its staplers.
E)  Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights.F) A) and D)
G) A) and C)

Question 9

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) A) and B)
G) B) and E)

Question 10

One method of classification describes whether a retailer is self-, limited-, or full-

Accepted Answer

A)  involvement.
B)  assortment.
C)  management.
D)  service.
E)  ownership.F) A) and E)
G) A) and D)

Question 11

The retail positioning matrix is an analytical tool that

Accepted Answer

A)  positions retail outlets in terms of the breadth of product line and value added.
B)  identifies the best location for building or leasing a retail store.
C)  identifies the specific customer base served by all stores within a given radius.
D)  identifies the most likely target market for a retail outlet based upon its size.
E)  identifies the elements of the retailing mix.F) C) and E)
G) A) and D)

Question 12

Which of the following retailers is one of the largest hypermarkets in the world?

Accepted Answer

A)  Target
B)  Kroger
C)  Carrefour
D)  Kmart
E)  WalmartF) C) and E)
G) A) and B)

Question 13

Level of service is used to describe the degree of service provided to the customer. Three levels of service are provided by self-, __________, and full-service retailers.

Accepted Answer

A)  limited-
B)  total-
C)  involvement-
D)  obligation-
E)  fixed-F) B) and C)
G) B) and E)

Question 14

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

Accepted Answer

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

Question 15

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 more than 198 million homes in the United States, United Kingdom, 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) All of the above
G) C) and D)

Question 16

Originally, filters for Mr. Coffee electric-drip coffeemakers 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)  a drop shipper
C)  a food broker
D)  a truck jobber
E)  a manufacturer's representativeF) None of the above
G) C) and D)

Question 17

There are three general forms of retail ownership: independent retailer, corporate chain, and

Accepted Answer

A)  dual ownership.
B)  industry consortium.
C)  retailing cooperative.
D)  contractual system.
E)  multinational cartel.F) A) and C)
G) B) and C)

Question 18

Ford and Coca-Cola represent which type of franchise?

Accepted Answer

A)  business-format franchise
B)  manufacturing franchise
C)  general service franchise
D)  product-distribution franchise
E)  business franchise ventureF) C) and D)
G) A) and E)

Question 19

The analytical tool that positions retail outlets in terms of the breadth of their product line and value added, such as location, product reliability, or prestige, is the

Accepted Answer

A)  growth share matrix.
B)  MAC framework.
C)  market-product grid.
D)  retail positioning matrix.
E)  wheel of retailing.F) B) and C)
G) None of the above

Question 20

Retail outlets vary by their merchandise lines, the key distinction being the __________ of the items offered to customers.

Accepted Answer

A)  scope and span
B)  breadth and depth
C)  breadth and inventory
D)  scope and inventory
E)  range and spanF) B) and D)
G) A) and E)

Exam 16: Retailing and Wholesaling

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

Correct Answer
verified

The sales of products and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as

Correct Answer
verified

Which of the following statements regarding QVC is most accurate?

Correct Answer
verified

Which of the following retailers is one of the largest hypermarkets in the world?

Correct Answer
verified

There are three general forms of retail ownership: independent retailer, corporate chain, and

Correct Answer
verified

Retail outlets vary by their merchandise lines, the key distinction being the __________ of the items offered to customers.

Correct Answer
verified

In the telemarketing industry, issues such as consumer privacy, __________, and industry standards have become a topic of discussion among consumers, Congress, the Federal Trade Commission (FTC) , and businesses.

Correct Answer
verified

Because consumers often use price as an indicator of product quality, what decision factor becomes important in this situation?

Correct Answer
verified

Ford and Coca-Cola represent which type of franchise?

Correct Answer
verified

Originally, filters for Mr. Coffee electric-drip coffeemakers 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

One method of classification describes whether a retailer is self-, limited-, or full-

Correct Answer
verified

The use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store is referred to as

Correct Answer
verified

Which of the following firms has made the wisest wholesaler choice for its product?

Correct Answer
verified

The three basic types of contractual systems are

Correct Answer
verified

Correct Answer
verified

Level of service is used to describe the degree of service provided to the customer. Three levels of service are provided by self-, __________, and full-service retailers.

Correct Answer
verified

The retail positioning matrix is an analytical tool that

Correct Answer
verified

Intermediaries that represent a single producer and are responsible for designing promotional plans, setting prices, determining distribution policies, and making recommendations on product strategy are referred to as

Correct Answer
verified

Companies such as Avon, Fuller Brush, Mary Kay, and World Book are examples of firms that use

Correct Answer
verified

The analytical tool that positions retail outlets in terms of the breadth of their product line and value added, such as location, product reliability, or prestige, is the

Correct Answer
verified

Exam 16: Retailing and Wholesaling

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

Correct AnswerverifiedShow Answer

The sales of products and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as

Correct AnswerverifiedShow Answer

Which of the following statements regarding QVC is most accurate?

Correct AnswerverifiedShow Answer

Which of the following retailers is one of the largest hypermarkets in the world?

Correct AnswerverifiedShow Answer

There are three general forms of retail ownership: independent retailer, corporate chain, and

Correct AnswerverifiedShow Answer

Retail outlets vary by their merchandise lines, the key distinction being the __________ of the items offered to customers.

Correct AnswerverifiedShow Answer

In the telemarketing industry, issues such as consumer privacy, __________, and industry standards have become a topic of discussion among consumers, Congress, the Federal Trade Commission (FTC) , and businesses.

Correct AnswerverifiedShow Answer

Because consumers often use price as an indicator of product quality, what decision factor becomes important in this situation?

Correct AnswerverifiedShow Answer

Ford and Coca-Cola represent which type of franchise?

Correct AnswerverifiedShow Answer

Originally, filters for Mr. Coffee electric-drip coffeemakers 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

One method of classification describes whether a retailer is self-, limited-, or full-

Correct AnswerverifiedShow Answer

The use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store is referred to as

Correct AnswerverifiedShow Answer

Which of the following firms has made the wisest wholesaler choice for its product?

Correct AnswerverifiedShow Answer

The three basic types of contractual systems are

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Level of service is used to describe the degree of service provided to the customer. Three levels of service are provided by self-, __________, and full-service retailers.

Correct AnswerverifiedShow Answer

The retail positioning matrix is an analytical tool that

Correct AnswerverifiedShow Answer

Intermediaries that represent a single producer and are responsible for designing promotional plans, setting prices, determining distribution policies, and making recommendations on product strategy are referred to as

Correct AnswerverifiedShow Answer

Companies such as Avon, Fuller Brush, Mary Kay, and World Book are examples of firms that use

Correct AnswerverifiedShow Answer

The analytical tool that positions retail outlets in terms of the breadth of their product line and value added, such as location, product reliability, or prestige, is the

Correct AnswerverifiedShow Answer

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verified

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