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Marketing, 14e (Kerin)
1) The development of today's "smart store" includes each of the following except which?
A) biometric scanning
B) Internet-of-Things
C) artificial intelligence selling
D) wearable technology
E) virtual reality
2) Target and Kohl's send messages about special offers to ________ wearers who are near their
stores, direct them toward sales items once inside, and allow shoppers to initiate payment simply
by holding the device near a payment terminal.
A) Apple Watch
B) Amazon Echo
C) Fitbit Flex
D) Google Glass
E) Foursquare's FourEyes
3) All activities involved in selling, renting, and providing products and services to ultimate
consumers for personal, family, or household use are referred to as
A) manufacturing.
B) retailing.
C) wholesaling.
D) facilitating.
E) logistics.
4) Retailing includes all activities involved in the
A) selling, renting, and providing of products and services to ultimate consumers for personal,
family, or household use.
B) selling of tangible products to ultimate consumers for personal, family, or household use.
C) selling of tangible products to ultimate consumers for personal, household, or industrial use.
D) selling, renting, leasing, or reselling of products and services to ultimate consumers or small
industrial users.
E) selling, renting, and providing of products and services without retaining the title to these
offerings.
5) Retailing is an important marketing activity. Not only do producers and consumers meet
through retailing actions, but retailing also creates
A) the nation's largest source of tax revenues.
B) the largest source of charitable contributions.
C) limited utilities for consumers.
D) customer value.
E) a sense of community.
6) The ________ provided by retailers create value for consumers.
A) utilities
B) wholesaling functions
C) outsourcing functions
D) profits
E) synergies
7) The four utilities offered to consumers through retailing are
A) convenience, performance, possession, and form.
B) time, place, possession, and form.
C) product, price, place, and promotion.
D) people, productivity, process, and physical environment.
E) convenience, consistency, competition, and choice.
8) Wells Fargo is one of the best-run banks in the United States. It reaches retail customers
through 8,600 stores, a worldwide network of 13,000 ATMs, and its online banking service.
Which utility does Wells Fargo best provide?
A) time
B) possession
C) place
D) form
E) performance
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?
A) form
B) product
C) service
D) possession
E) convenience
10) CarMax dealers have adopted a "no-haggle" sales policy that eliminates the need for
negotiating. Instead, all customers are offered the same price. Test drives, financing, trade-ins,
and leasing are all offered to encourage customers to purchase a car. Which utility does CarMax
best provide?
A) product
B) form
C) convenience
D) service
E) possession
11) Albertsons Grocery Store accepts debit and credit cards as well as cash and checks for
purchases. Its acceptance of various forms of payment provides its customers with ________
utility.
A) time
B) place
C) possession
D) form
E) public
12) Subway restaurants that offer sandwiches made exactly to each customer's preference are
providing ________ utility.
A) time
B) place
C) possession
D) form
E) process
13) The ability to shop over the Internet 24 hours a day, seven days a week, provides consumers
with ________ utility.
A) form
B) time
C) convenience
D) possession
E) performance
14) At the Christmas Tree Shop, customers can shop for Christmas gifts and decor at any time of
the year. What type of utility does this store provide for its customers?
A) place and conformance
B) possession and form
C) form
D) performance
E) time
15) Dick's Sporting Goods is a leading sports retailer that provides year-round inventory of
equipment for just about any sport. Even during the off-season, equipment for seasonal sports is
available at Dick's. Which utility does the it best provide?
A) time
B) convenience
C) possession
D) form
E) performance
16) Five of the 40 largest businesses in the United States are retailers—Walmart, Costco, Home
Depot, Target, and
A) Sears.
B) Lowe's.
C) Best Buy.
D) JC Penney.
E) Bloomingdale's.
17) Which of the following is one of the largest retailers in the United States?
A) Hallmark
B) Procter & Gamble
C) Merck
D) Target
E) Johnson and Johnson
18) Walmart's $485 billion in sales in 2016 surpassed the gross domestic product of all but
________ countries for that same year.
A) 5
B) 12
C) 18
D) 22
E) 34
19) The greatest dollar amount of retail sales in the United States is generated by
A) food and beverage stores.
B) sporting goods, hobby, book, and music stores.
C) electronic stores.
D) motor vehicle and parts dealers.
E) furniture and home furnishing stores.
20) Of these categories, the smallest dollar amount of retail sales in the United States is
generated by
A) motor vehicle and parts dealers.
B) food and beverage stores.
C) sporting goods, hobby, book, and music stores.
D) gasoline stations.
E) building material and garden stores.
21) Outside the United States, large retailers include ________ in Japan, Carrefour in France,
Metro Group in Germany, and Tesco in Britain.
A) Aeon
B) Toshei
C) Seebi
D) Goshen
E) Toshi
22) Aeon, Carrefour, Tesco, and Metro Group are
A) sizable wholesalers that handle products for the world's largest retailers.
B) new Internet start-ups that have the potential to impact the U.S. economy.
C) large retailers outside of the United States.
D) large distributors of business products.
E) historic companies that developed consumer selling systems, though none of them exist today.
23) The three key methods of classifying retail operations are
A) method of operation, revenues generated, and merchandise line.
B) form of ownership, method of operation, and merchandise line.
C) form of ownership, level of service, and merchandise line.
D) level of service, merchandise line, and revenues generated.
E) merchandise line, form of ownership, and revenues generated.
24) Which of the following is a commonly used method of retail outlet classification?
A) service versus product
B) type of merchandise line
C) proportion of national versus private label brands carried
D) revenues generated
E) profitability
25) The ________ distinguishes types of retail outlets, with independent retailers, corporate
chains, or contractual systems being the three general forms.
A) wheel of retailing
B) service level
C) merchandise line
D) product assortment
E) form of ownership
26) One method of classification categorizes a retailer as self-, limited-, or full-
A) involvement.
B) assortment.
C) management.
D) service.
E) ownership.
27) 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.
A) limited-
B) total-
C) involvement-
D) obligation-
E) fixed-
28) A method of classification that describes how many different types of products a store carries
and in what assortment is referred to as a
A) product mix.
B) service level.
C) product variety.
D) store composition.
E) merchandise line.
29) According to the text, ________ provides third-party certification and offers guidance for
retailers implementing new environmentally sound practices.
A) the Environmental Protection Agency
B) the U.S. Chamber of Commerce—Environmental Division
C) Green Cross International
D) the U.S. Green Retail Association
E) Leadership in Energy and Environmental Design (LEED)
30) When Home Depot switched its in-store light fixture displays to compact fluorescent light
and LED bulbs, painted the roofs of its stores white, and installed solar panels, it reduced its
energy use by ________ percent.
A) 5
B) 10
C) 15
D) 20
E) 25
31) There are three general forms of retail ownership: contractual system, independent retailer,
and
A) dual ownership.
B) industry consortium.
C) retailing cooperative.
D) multinational cartel.
E) corporate chain.
32) One of the most common forms of retail ownership is the ________ owned by an individual.
A) corporate chain
B) consumer cooperative.
C) contractual system
D) independent retailer
E) administered systems
33) Independent retailers account for most of the ________ retail establishments in the United
States.
A) 50,000
B) 90,000
C) 900,000
D) 1.8 million
E) 3.7 million
34) Most of the 3.7 million retail establishments in the United States, including hardware stores,
convenience stores, clothing stores, and electronics stores, are considered
A) corporate chains.
B) contractual systems.
C) independent retailers.
D) conglomerates.
E) multinationals.
35) Which form of retail outlet would most likely offer customers convenience, quality personal
service, and lifestyle compatibility?
A) corporate chain
B) independent retailer
C) administered system
D) contractual system
E) sole incorporation
36) Your neighborhood dry cleaner or florist is likely to be categorized as an independent
retailer. This means it is owned by a(n)
A) individual.
B) conglomerate.
C) consortium.
D) corporate chain.
E) cooperative.
37) A form of ownership that involves multiple outlets under common ownership is referred to
as a(n)
A) corporate chain.
B) consumer cooperative.
C) contractual system.
D) independent retailer.
E) administered system.
38) Bloomingdale's stores are part of the Macy's
A) corporate chain.
B) consumer cooperative.
C) contractual system.
D) retail conglomerate.
E) administered system.
39) Which of the following statements regarding corporate chains is most accurate?
A) Corporate chains cannot bargain with a manufacturer to obtain product volume discounts due
to federal anticompetitive legislation—the Clayton Act as amended by the Sherman Act.
B) Corporate chains generally own most if not all of their suppliers—a practice known as
forward integration—so they can save distribution costs.
C) Consumers have fewer choices in merchandise since all buying decisions are made by a
decentralized buying committee.
D) Corporate chains offer the least benefit to consumers since they are the farthest removed from
the ultimate consumer.
E) Corporate chains are multiple outlets under common ownership.
40) Consumers benefit in dealing with retail corporate chains because
A) corporate chains have more experience than other forms of retailers.
B) consumers can own stock in the same company where they shop since corporate chain stock
must be publicly traded.
C) chains can bargain with a manufacturer to obtain product volume discounts on orders, which
can be passed on to consumers in terms of lower prices.
D) there are multiple outlets, each with its own varied merchandise and different management
policies.
E) merchandise is arranged and displayed by professional designers making their shopping
experience less stressful.
