Question 1

Regional shopping centers refer to a

Accepted Answer

A)   retail cluster in a downtown area.
B)   retail location that typically has one primary store and about 20 to 40 smaller outlets, and serves a population base of about 100,000.
C)   cluster of stores that serve people who are within a five- to ten-minute drive and serves a population base of under 30,000.
D)   group of 50 to 150 stores that typically attract customers who live or work within a 5- to 10-mile range, often containing two or three anchor stores.
E)   retail cluster of stores in uptown areas.F) None of the above
G) A) and B)

Question 2

Growth in the direct-selling industry is the result of two trends: (1) there is a growing number of companies that are using direct selling to reach consumers who prefer one-on-one customer service and a social shopping experience rather than online shipping or big discount stores and (2)

Accepted Answer

A)   many direct selling retailers are expanding into markets outside of the United States.
B)   increased gas prices and traffic congestion are causing people to want stores to deliver products to them.
C)   the pendulum is beginning to swing back to more mothers (and fathers)  staying home during the day with children, making direct selling more convenient.
D)   the purchase or lease of real estate to build an actual "brick" retail store is becoming prohibitive.
E)   graduating business students are finding it more difficult to find a traditional sales position and like the idea of being their own bosses.F) A) and E)
G) All of the above

Question 3

increase demand for complementary products,the price of a product often is

Accepted Answer

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

Question 4

Briefly describe the two general types of franchises.

Accepted Answer

Franchises can be classified in two gene...

Question 5

way neighborhood grocers can take advantage of volume discounts commonly available to chains is to

Accepted Answer

A)   purchase a franchise membership.
B)   become a subsidiary of a larger supermarket chain like Kroger.
C)   join a professional merchant association and hire food brokers to negotiate lower prices for produce and dry goods.
D)   create a grocery networking system to exchange coupon vouchers.
E)   participate in a retailer-sponsored cooperative with other independent grocers.F) B) and C)
G) A) and E)

Question 6

stores today are near several others in one of five settings: the central business district,the regional shopping center,the community shopping center,the strip mall,or the __________.

Accepted Answer

A)   rural micromall
B)   urban megacenter
C)   power center
D)   exurb value center
E)   suburban downtownF) B) and C)
G) A) and E)

Question 7

variety of different items a store carries is referred to as the

Accepted Answer

A)   retailing mix.
B)   depth of product line.
C)   breadth of product line.
D)   width of product line.
E)   length of product line.F) None of the above
G) B) and D)

Question 8

Retailers that integrate and leverage their stores,catalogs,and websites have seen

Accepted Answer

A)   a sizeable increase in yearly sales from individual customers.
B)   a small increase in yearly sales from aggregate target market segments.
C)   no difference in yearly sales from individual customers.
D)   a decrease in yearly sales from individual customers.
E)   a large decrease in yearly sales from individual customers.F) A) and B)
G) A) and C)

Question 9

Growth in the direct-selling industry is the result of two trends: (1) direct selling retailers are expanding into markets outside the United States and (2)

Accepted Answer

A)   increased gas prices and traffic congestion are causing people to want the store to deliver the products to them.
B)   the pendulum is beginning to swing back to more mothers (and fathers)  staying home during the day with children, making direct selling more convenient.
C)   the purchase or lease of real estate to build an actual "brick" retail store is becoming prohibitive.
D)   graduating business students are finding it more difficult to find a traditional sales position and like the idea of being their own bosses.
E)   there is a growing number of companies that are using direct selling to reach consumers who prefer one-on-one customer service and a social shopping experience rather than online shopping or big discount stores.F) A) and B)
G) A) and C)

Question 10

Which of the following stores are most likely to be an anchor store at a regional shopping center?

Accepted Answer

A)   Old Navy, Abercrombie & Fitch, and Kay-Bee toy store
B)   Hickory Farms, a locally-owned jewelry store, and Radio Shack
C)   an antique store, Dollar General, and a bakery
D)   Sears, Macy's, and JCPenney
E)   Hallmark shop, a sporting goods consignment store, and a Barnes & Noble bookstoreF) C) and E)
G) A) and B)

Question 11

Franchising is attractive for the franchisee because

Accepted Answer

A)   it gives the franchisee complete control over the delivery and presentation of merchandise.
B)   the license fees paid to the franchisor are the only fees the franchisee pays.
C)   it relieves the franchisee from any company or product liabilities.
D)   it offers the franchisee the opportunity to enter into a well-known, established business where managerial advice is provided.
E)   the franchisee is completely his or her own boss.F) A) and D)
G) A) and C)

Question 12

Which type of utility is created by online shopping?

Accepted Answer

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

Question 13

every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores is usually __________.

Accepted Answer

A)   unplanned
B)   national anchor stores
C)   privately-owned specialty stores
D)   fast food restaurants
E)   amusement and theme parksF) C) and E)
G) B) and D)

Question 14

Williams-Sonoma is a specialty store that caters to customers who want to cook at home.It offers free cooking classes,has frequent demonstrations by cookbook authors,and has employees who are knowledgeable about food preparation.The sales staff helps customers make their selections.Williams-Sonoma is a __________ retailer.

Accepted Answer

A)   exclusive-service
B)   full-service
C)   upscale-service
D)   self-service
E)   limited-serviceF) C) and D)
G) B) and D)

Question 15

Briefly describe the three ways retail outlets can be classified.

Accepted Answer

Retail outlets can be classified in thre...

Question 16

Sales per Square Foot and Same-Store Sales Growth Marketing Dashboards
-Buy has approximately what amount of sales per square foot according to the Sales per Square Foot Marketing Dashboard above?

Accepted Answer

A)   $500
B)   $800
C)   $1,000
D)   $2,000
E)   $4,000F) B) and D)
G) All of the above

Question 17

Walmart and Home Depot emphasize consistently low prices and eliminate most markdowns with a retail pricing strategy called

Accepted Answer

A)   low-margin.
B)   value based.
C)   everyday low pricing.
D)   everyday fair pricing.
E)   markdown pricing.F) A) and B)
G) D) and E)

Question 18

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

Question 19

a(n) __________,an individual or firm contracts with a parent company to set up a business or retail outlet.

Accepted Answer

A)   administered system
B)   vertically integrated chain
C)   retail-sponsored cooperative
D)   franchise system
E)   corporate systemF) A) and B)
G) All of the above

Question 20

Independently owned stores that band together to act like a chain are referred to as __________.

Accepted Answer

A)   corporate chains
B)   cooperative marketing systems
C)   contractual systems
D)   regional shopping centers
E)   self-service systemsF) A) and B)
G) B) and E)

Exam 16: Retailing and Wholesaling

a(n) __________,an individual or firm contracts with a parent company to set up a business or retail outlet.

Correct Answer
verified

Retailers that integrate and leverage their stores,catalogs,and websites have seen

Correct Answer
verified

way neighborhood grocers can take advantage of volume discounts commonly available to chains is to

Correct Answer
verified

Which type of utility is created by online shopping?

Correct Answer
verified

Growth in the direct-selling industry is the result of two trends: (1) direct selling retailers are expanding into markets outside the United States and (2)

Correct Answer
verified

Sales per Square Foot and Same-Store Sales Growth Marketing Dashboards -Buy has approximately what amount of sales per square foot according to the Sales per Square Foot Marketing Dashboard above?

Correct Answer
verified

Briefly describe the two general types of franchises.

Correct Answer
verified
Franchises can be classified in two gene...
View Answer

increase demand for complementary products,the price of a product often is

Correct Answer
verified

stores today are near several others in one of five settings: the central business district,the regional shopping center,the community shopping center,the strip mall,or the __________.

Correct Answer
verified

Regional shopping centers refer to a

Correct Answer
verified

Growth in the direct-selling industry is the result of two trends: (1) there is a growing number of companies that are using direct selling to reach consumers who prefer one-on-one customer service and a social shopping experience rather than online shipping or big discount stores and (2)

Correct Answer
verified

Walmart and Home Depot emphasize consistently low prices and eliminate most markdowns with a retail pricing strategy called

Correct Answer
verified

Franchising is attractive for the franchisee because

Correct Answer
verified

Which of the following stores are most likely to be an anchor store at a regional shopping center?

Correct Answer
verified

variety of different items a store carries is referred to as the

Correct Answer
verified

Correct Answer
verified

Briefly describe the three ways retail outlets can be classified.

Correct Answer
verified
Retail outlets can be classified in thre...
View Answer

every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores is usually __________.

Correct Answer
verified

Which of the following statements regarding QVC is most accurate?

Correct Answer
verified

Independently owned stores that band together to act like a chain are referred to as __________.

Correct Answer
verified

Exam 16: Retailing and Wholesaling

a(n) __________,an individual or firm contracts with a parent company to set up a business or retail outlet.

Correct AnswerverifiedShow Answer

Retailers that integrate and leverage their stores,catalogs,and websites have seen

Correct AnswerverifiedShow Answer

way neighborhood grocers can take advantage of volume discounts commonly available to chains is to

Correct AnswerverifiedShow Answer

Which type of utility is created by online shopping?

Correct AnswerverifiedShow Answer

Growth in the direct-selling industry is the result of two trends: (1) direct selling retailers are expanding into markets outside the United States and (2)

Correct AnswerverifiedShow Answer

Sales per Square Foot and Same-Store Sales Growth Marketing Dashboards -Buy has approximately what amount of sales per square foot according to the Sales per Square Foot Marketing Dashboard above?

Correct AnswerverifiedShow Answer

Briefly describe the two general types of franchises.

Correct AnswerverifiedFranchises can be classified in two gene...View AnswerShow Answer

increase demand for complementary products,the price of a product often is

Correct AnswerverifiedShow Answer

stores today are near several others in one of five settings: the central business district,the regional shopping center,the community shopping center,the strip mall,or the __________.

Correct AnswerverifiedShow Answer

Regional shopping centers refer to a

Correct AnswerverifiedShow Answer

Growth in the direct-selling industry is the result of two trends: (1) there is a growing number of companies that are using direct selling to reach consumers who prefer one-on-one customer service and a social shopping experience rather than online shipping or big discount stores and (2)

Correct AnswerverifiedShow Answer

Walmart and Home Depot emphasize consistently low prices and eliminate most markdowns with a retail pricing strategy called

Correct AnswerverifiedShow Answer

Franchising is attractive for the franchisee because

Correct AnswerverifiedShow Answer

Which of the following stores are most likely to be an anchor store at a regional shopping center?

Correct AnswerverifiedShow Answer

variety of different items a store carries is referred to as the

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Briefly describe the three ways retail outlets can be classified.

Correct AnswerverifiedRetail outlets can be classified in thre...View AnswerShow Answer

every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores is usually __________.

Correct AnswerverifiedShow Answer

Which of the following statements regarding QVC is most accurate?

Correct AnswerverifiedShow Answer

Independently owned stores that band together to act like a chain are referred to as __________.

Correct AnswerverifiedShow Answer

Correct Answer
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verified
Franchises can be classified in two gene...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
Retail outlets can be classified in thre...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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