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Name:
Class:
Date:
chapter 15
Indicate whether the statement is true or false.
1. The main factors involved in determining a product’s markup are the inventory turnover rate and the services
performed by the retailer.
a.
True
b.
False
2. Beauty consultants at cosmetics counters in department stores often give customers makeovers. In addition to
the makeup, the consultants discuss skin care products to improve skin texture so the makeup looks better. This
type of interaction is called suggestive selling.
a.
True
b.
False
3. Drop shippers take title to the goods but never physically handle or even see the merchandise.
a.
True
b.
False
4. Variety stores offer an extensive range and assortment of low-price merchandise.
a.
True
b.
False
5. Catalog retailing is growing at a slower rate than brick-and-mortar retailers.
a.
True
b.
False
6. Spiegel is a mail-order wholesaler that relies on catalogs to contact its customers. It would be considered a
limited-function merchant wholesaler.
a.
True
b.
False
7. Cooperatives help independent retailers to compete with chains by providing volume buying power.
a.
True
b.
False
8. Wholesaling intermediaries are specialists in production or manufacturing functions.
a.
True
b.
False
9. Inventory at off-price stores changes frequently as buyers take advantage of special price offers from
manufacturers selling excess merchandise.
a.
True
b.
False
10. Direct-mail marketing relies heavily on database technology to manage lists of names and segment them
according to the objectives of the promotional campaign.
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chapter 15
a.
True
b.
False
11. General merchandise retailers distinguish themselves from specialty and limited-line retailers by the large
number of product lines they carry.
a.
True
b.
False
12. Sales offices located closer to the firm’s customers help limit selling costs and support effective customer
service.
a.
True
b.
False
13. Lifestyle centers seek to offer the intimacy and easy access of neighborhood village retailing with a
fashionable cachet.
a.
True
b.
False
14. Direct-response retailing does not include home shopping that sells merchandise through telephone orders.
a.
True
b.
False
15. If merchandise selection changes frequently to follow fashion trends, advertising is typically used to
promote current styles effectively.
a.
True
b.
False
16. In essence, a department store is a series of limited-line and specialty stores under one roof.
a.
True
b.
False
17. Chain stores are groups of retail outlets that operate under central ownership and management and handle
the same product lines.
a.
True
b.
False
18. Merchant wholesalers are a class of wholesaling intermediaries who do not take title to the goods they
handle.
a.
True
b.
False
19. In the United States, cash-and-carry operations typically function as departments within regular full-service
wholesale operations.
a.
True
b.
False
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chapter 15
20. Rising in popularity during the 1990s, power centers offered value because they underpriced department
stores while providing a huge selection of specialty merchandise.
a.
True
b.
False
21. A manufacturer’s representative can work only for a single manufacturer.
a.
True
b.
False
22. Marc is a wholesaling intermediary who brings buyers and sellers together, sometimes representing buyers
and sometimes representing sellers, but never both in the same transaction. This information indicates that Marc
is a commission merchant.
a.
True
b.
False
23. Other things being equal, stores that offer more services charge smaller markups to cover their costs.
a.
True
b.
False
24. Limited-line retailers cater to the needs of people who want to select from complete lines in purchasing
particular products.
a.
True
b.
False
25. Vending machines are classified as a form of automatic merchandising.
a.
True
b.
False
26. Nordstrom carefully combines defined product lines and services in an attempt to convince consumers to
expend considerable effort shopping at their stores. Nordstrom can be regarded as a specialty retailer.
a.
True
b.
False
27. Macy’s is a retail store that focuses on fashion-oriented merchandise, backed by a complete array of
customer services. It can be considered as a self-service store.
a.
True
b.
False
28. Wholesaling intermediaries create utility in the form of time, place, and ownership.
a.
True
b.
False
29. Most of the specialty stores are chain outlets with large-scale operations.
a.
True
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b.
False
30. Rack jobbers are full-function merchant wholesalers that market specialized lines of merchandise to
retailers.
a.
True
b.
False
31. A retailer starts to define its marketing strategy by selecting its inventory management strategy.
a.
True
b.
False
32. The pricing strategies seldom influence consumer perceptions of a retailer.
a.
True
b.
False
33. The term “atmospherics” exclusively refers to the interior décor of a store.
a.
True
b.
False
34. O&S Ticket Brokers, a Broadway theater ticket agency, sells tickets in bulk to corporate clients. It would be
considered a wholesaling intermediary even though the firm does not take title to the tickets it sells.
a.
True
b.
False
35. Many consumers shop for reasons other than just purchasing needed products.
a.
True
b.
False
36. A retailer’s merchandising strategy guides decisions regarding the items it will offer.
a.
True
b.
False
37. A full-service retailer usually sells convenience products that people can purchase without any assistance.
a.
True
b.
False
38. Category killers are invulnerable to competition because of the huge selections they offer in different
product lines.
a.
True
b.
False
39. The profit potential of a market area is an important factor influencing retail stores' decisions regarding their
target markets.
a.
True
b.
False
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chapter 15
40. Specialty retailers typically attract customers by offering the products at the lowest possible prices.
a.
True
b.
False
41. In the case of convenience stores, customers usually compare prices, assortments, and quality levels at
competing outlets before making purchase decisions.
a.
True
b.
False
42. Retail convergence results in blurring of distinctions between types of retailers and the merchandise mix
they offer.
a.
True
b.
False
43. A cash-and-carry wholesaler performs most wholesaling functions including financing and delivery.
a.
True
b.
False
44. Truck wholesalers make regular deliveries to retailers and perform collection and promotion functions.
a.
True
b.
False
45. The wheel of retailing attempts to explain the patterns of change in retailing.
a.
True
b.
False
46. Convenience retail stores attract consumers by providing easy access, extended store hours, and adequate
parking facilities.
a.
True
b.
False
47. Salespeople involved in suggestive selling try to help customers recognize true needs rather than unwanted
merchandise.
a.
True
b.
False
48. A trade fair is a periodic show at which manufacturers in a particular industry display their wares for visiting
retail and wholesale buyers.
a.
True
b.
False
49. Category killers are a type of limited-line retailer that offer huge selections and low prices in single product
lines.
a.
True
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b.
False
50. Through direct selling, manufacturers completely bypass retailers and wholesalers and set up their own
channels to sell their products directly to consumers.
a.
True
b.
False
51. One of the main objectives of the interior décor of a store is to induce shoppers to buy.
a.
True
b.
False
52. Chain stores usually obtain merchandise at lower prices from manufacturers compared to their independent
rivals.
a.
True
b.
False
53. Other things being equal, stores with a higher inventory turnover rate can cover their costs and earn a profit
while charging a smaller markup.
a.
True
b.
False
54. Compared to mail-order wholesalers, truck wholesalers tend to provide fewer services and set lower prices
because they incur lower operating costs.
a.
True
b.
False
55. Specialty stores typically carry convenience and shopping goods.
a.
True
b.
False
56. Selling up is a retailing practice in which salespeople try to persuade customers to buy higher-priced items
than originally intended.
a.
True
b.
False
57. A selling agent is an ideal marketing channel for weakly financed, production-oriented firms.
a.
True
b.
False
58. Markups are determined partly on the basis of marketers’ judgments of the amounts that consumers will pay
for a product.
a.
True
b.
False
59. Wholesaling intermediaries tend to reduce the number of transactions between buyers and sellers.
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a.
True
b.
False
60. While implementing the strategy of category management, a category manager oversees an entire product
line and is responsible for the profitability of the product group.
a.
True
b.
False
61. Telemarketing is the most frequently used form of direct marketing and provides high returns to the
marketers on their expenditures.
a.
True
b.
False
62. Infomercials are a form of telemarketing.
a.
True
b.
False
63. A local food store can be regarded as a convenience retailer.
a.
True
b.
False
64. Sales offices carry inventory and process orders for customers from available stock.
a.
True
b.
False
65. Mass merchandisers usually provide the same depth of assortment as a department store within each product
line.
a.
True
b.
False
66. Markup can be expressed as a percentage of the total cost of the product or the selling price.
a.
True
b.
False
67. Retailers practice scrambled merchandising to boost sales volume.
a.
True
b.
False
68. Retailers must consider the overall profitability of each product line and product category to develop a
successful merchandise mix.
a.
True
b.
False
69. Internet-based retailers usually maintain little or no inventory and order directly from vendors to fill
customer orders received via their websites.
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chapter 15
a.
True
b.
False
70. Agents and brokers perform wholesaling activities without taking title to the goods.
a.
True
b.
False
71. Manufacturer-owned facilities are beneficial when products are perishable and need rigid control of
distribution to avoid spoilage.
a.
True
b.
False
72. A neighborhood shopping center consists of large stores featuring shopping goods, professional offices, a
branch bank, and also a movie theatre or a supermarket.
a.
True
b.
False
73. The response rates for direct-mail marketing are measurable and higher compared to other types of
advertising.
a.
True
b.
False
74. The level of competition for business in the market is an important criteria considered by retailers while
selecting the target market.
a.
True
b.
False
75. A supercenter is usually larger than a hypermarket.
a.
True
b.
False
76. Traditional brick-and-mortar stores such as Macy's have recently closed stores due to the growing trend of
Internet shopping and changing consumer behavior who visit malls on a less frequent basis.
a.
True
b.
False
77. Both vendors and retailers use the strategy of category management.
a.
True
b.
False
78. A discount house offers fewer services to its customers.
a.
True
b.
False
79. The retail stores in a planned shopping center maintain uniform hours of operation, including evening and
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weekend hours.
a.
True
b.
False
80. Retail outlets are the contact points between the channel members and ultimate consumers.
a.
True
b.
False
81. A retailer’s customer service strategy can support the efforts of the retailer in building demand for a line of
merchandise.
a.
True
b.
False
82. Vending machines and convenience food stores are not affected by the wheel of retailing because their
strategy for customer satisfaction is based on location and convenience, not pricing.
a.
True
b.
False
83. Fitness Zone is a gym that offers its customers a chance to buy health drinks through a vending machine.
This type of service is called automatic merchandising.
a.
True
b.
False
Indicate the answer choice that best completes the statement or answers the question.
84. Customers who cannot afford to pay cash for purchases made directly from the manufacturer can buy those
products from a wholesale intermediary who grants them credit for the purchase. Which of the following
marketing functions is being performed by the wholesaler in this situation by granting credit?
a.
Production
b.
Transporting
c.
Risk taking
d.
Financing
85. _____ make regular deliveries to retailers, perform sales and collection functions, and promote product lines.
a.
Clearing agents
b.
Boundary spanners
c.
Truck jobbers
d.
Drop shippers
86. _____ are shopping centers that house only off-price retailers.
a.
Warehouse clubs
b.
Supercenters
c.
Regional shopping centers
d.
Outlet malls
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87. Wholesaling intermediaries create place utility by:
a.
extending credit to product manufacturers.
b.
helping deliver goods and services for purchase at convenient locations.
c.
providing a sales force to call upon potential suppliers.
d.
offering a round-the-clock customer helpline.
88. The strategy of category management is used by retailers to:
a.
seek pricing and promotional concessions from manufacturers as conditions for selling their products.
b.
improve their product group performance through coordinated buying, merchandising, and pricing.
c.
attract consumers by making shopping easier, faster, and enjoyable.
d.
decrease its rate of inventory turnover.
89. Dollar General is one of the fastest growing retail store chains in the United States and typically establishes
store locations in under-served or rural towns. In the early days, the stores were small with limited product
lines but as Dollar General has seen its revenues grow, it's built new stores, added product lines, and has
become a major grocery and household item competitor. What concept explains the patterns of change over
time for the Dollar General company?
a.
wheel of retailing
b.
law of retail metamorphosis
c.
evolution of retail
d.
retail growth theorem
90. Wendy has a membership at Sam's Club and Costco and enjoys purchasing items in bulk to save money for
her family. The stores are huge and are distinct in their appearance since they feature large aisles and
commercial shelving. It's more like shopping in a working warehouse but Wendy loves searching for bargains
and everyday staples such as paper towels and cleaning supplies. Sam's Club and Costco are examples of
_____ retailers.
a.
discount
b.
category killer
c.
specialty
d.
department store
91. Developing a customer service strategy for your sporting goods store, you know that services can add value to the
shopping experience. Your business partner agrees, but makes a comment that shows he doesn't really understand this
type of strategy. Identify his comment.
a.
At this point, we should agree to offer gift wrapping.
b.
At this point, we should specify our return privileges.
c.
At this point, we should agree to provide home delivery.
d.
We don't need to decide whether to charge customers for gift wrapping.
e.
Our basic objective is to attract and retain customers.
92. You are in the process of starting your own business, a specialty cupcake store. From your study of
marketing, you realize that many of your business decisions, such as where to open the store and how to
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advertise it, will depend on the segment of the population you want to attract as customers for your product.
You start looking at data about the types of stores in different parts of the town and the demographics of the
individuals in different neighborhoods. What are you doing in this process?
a.
engaging in category management
b.
creating a promotional strategy
c.
selecting a target market
d.
analyzing the wheel of retailing
e.
marketing to the environment
93. Direct-response retailing that runs promotions on cable TV networks to sell merchandise through telephone
orders is called:
a.
personal selling.
b.
telemarketing.
c.
home shopping.
d.
automatic merchandising.
94. In the context of independent wholesaling intermediaries, which of the following statements is true
regarding agents and brokers?
a.
They provide a production facility to a manufacturer on rent.
b.
They help a manufacturer in designing a new product.
c.
They never take title of the goods that they handle.
d.
They buy products from a truck jobber and sell it through the orders placed on the Internet.
95. Sunway Megamall is a planned shopping center in Hanover, Maryland with nearly 400,000 square feet of
shopping space, and it serves around 300,000 people who stay within 30 minutes driving time from the
shopping center. It contains many department stores that provide a wide assortment of convenience, shopping,
and specialty goods, plus many personal service facilities. Sunway Megamall is most likely to be an example of
a:
a.
neighborhood shopping center.
b.
lifestyle center.
c.
regional shopping center.
d.
community shopping center.
96. A(n) _____ gathers buyers and sellers in one location and allows potential buyers to inspect merchandise
before submitting competing purchase offers.
a.
truck jobber
b.
auction house
c.
commission merchant
d.
selling agent
97. Which of the following is an example of a specialty store?
a.
A discount house
b.
A hypermarket
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c.
A men’s shoe store
d.
An off-price retailer
98. An offering within a product line, such as a specific size of liquid detergent, is known as a(n) _____.
a.
product array element
b.
price look-up factor
c.
stock-keeping unit
d.
unique article number
99. Which of the following is the most frequently used form of direct marketing?
a.
Direct-response retailing
b.
Online retailing
c.
Telemarketing
d.
Direct mail
100. In the business-goods market, full-function merchant wholesalers are also known as _____.
a.
drop shippers
b.
mail-order wholesalers
c.
cash-and-carry wholesalers
d.
industrial distributors
101. The two broad categories of independent wholesaling intermediaries include agents and brokers, and
_____.
a.
contract agents
b.
full-function intermediaries
c.
exclusive-function intermediaries
d.
merchant wholesalers
102. You represent a group of investors who are interested in entering the retail business. Many of these
investors have significant past experience working with retailers, and they realize that the retail world is very
competitive. They are also aware of the high failure rate for startups in this industry, so they ask you to
recommend a retail strategy that could minimize potential losses by meeting the following criteria:
• Overall operating expenses would be low.
• No traditional storefront or personal selling would be necessary.
• Minimal customer service would have to be provided.
• Customers would be able to place orders via the Internet, telephone, or mail.
Based on the investors’ preferences, which retail strategy would you recommend?
a.
direct selling
b.
telemarketing
c.
catalog marketing
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d.
automatic merchandising
e.
television home shopping
103. A _____ accepts orders from customers and forwards these orders to producers, which then deliver the
desired products directly to customers.
a.
merchant wholesaler
b.
drop shipper
c.
rack jobber
d.
truck jobber
104. _____ are independent wholesaling intermediaries that take title to the goods they handle.
a.
Commission merchants
b.
Merchant wholesalers
c.
Selling agents
d.
Broker wholesalers
105. A wide variety of services such as charge accounts, delivery, gift wrapping, and liberal return privileges are
most likely to be associated with _____.
a.
department stores
b.
clearing houses
c.
merchandise mart
d.
industrial distribution stores
106. Which of the following is true of mail-order wholesalers?
a.
Their main aim is to bring buyers and sellers together.
b.
They carry no inventory, provide no credit, and do not take title to the goods.
c.
They often serve relatively small customers in outlying areas.
d.
They comprise a large percentage of full-function merchant wholesalers.
107. Capodice Foods is wholesaler specializing in fresh produce and makes regular, daily deliveries to grocery
stores and restaurants. Capodice Foods is an example of a _____ wholesaler.
a.
truck
b.
rack jobber
c.
merchant
d.
commission
108. Which of the following terms refers to the amount by which a retailer reduces the original selling price of a
product?
a.
Depreciation
b.
Switching cost
c.
Underwriting
d.
Markdown
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109. The distinctions between the types of retailers and the merchandise they offer are getting blurred because
of:
a.
direct selling.
b.
mass merchandising.
c.
retail convergence.
d.
home selling.
110. The sales branch is a manufacturer-owned facility that:
a.
provides space for permanent showrooms and exhibits which is used by manufactures to market their
goods.
b.
does not carry inventory but serves as a regional office for a manufacturer's sales personnel.
c.
manufactures and packages goods to the order of its customers.
d.
carries inventory and processes orders for customers from available stock.
111. _____ refers to the amount a retailer adds to the cost of a product to determine its selling price.
a.
Allowance
b.
Discount
c.
Rebate
d.
Markup
112. Which of the following statements is most likely to be true about a convenience retailer?
a.
It offers huge selections and low prices in single product lines.
b.
It appeals to customers by having an accessible location, rapid checkout, extended store hours, and
adequate parking.
c.
It combines carefully defined product lines, services, and reputations in attempts to persuade
consumers to expend considerable effort to shop at their stores.
d.
It offers a complete array of services to its customers.
113. Scrambled merchandising is a retailing practice of:
a.
offering similar merchandise across multiple retail outlets at the same price.
b.
providing different hours of operation at different outlets.
c.
combining dissimilar product lines to boost sales volume.
d.
offering similar merchandise at different prices at different outlets.
114. Reminding a customer that the flashlight he just purchased requires batteries (which are available for sale)
would be an example of:
a.
cross selling.
b.
bait-and-switch selling.
c.
selling up.
d.
suggestive selling.
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115. Carson cares deeply about the environment and strives to eat clean by choosing foods that are natural and
contain no artificial ingredients. When buying fresh produce, he's willing to pay more for organic and loves that
organic produce is more widely available - from Fresh Market, Whole Foods, Meijer, Kroger and even Aldi's.
He especially likes shopping at Aldi's where he can save money when buying fresh, organic produce. This is an
example of:
a.
retail convergence
b.
scrambled merchandising
c.
local sourcing
d.
produce preferences
116. Macy’s focuses on fashion-oriented merchandise, backed by a complete array of customer services. Hence,
Macy’s can be regarded as a:
a.
self-selection retailer.
b.
full-service retailer.
c.
self-service retailer.
d.
partial-assistance retailer.
117. Who among the following is an agent who predominates in the markets for agricultural products?
a.
A drop shipper
b.
A mass merchandiser
c.
A manufacturer’s agent
d.
A commission merchant
118. A _____ is a channel intermediary that takes title to goods it handles and then distributes those goods to
retailers, other distributors, or B2B customers.
a.
category killer
b.
merchandiser
c.
department store owner
d.
wholesaler
119. Which of the following is most likely to be an example of a mass merchandiser?
a.
A trade fair owner
b.
A catalog retailer
c.
A rack jobber
d.
A convenience retailer
120. Full-function merchant wholesalers include:
a.
sales branches and mail-order wholesalers.
b.
industrial distributors and rack jobbers.
c.
truck jobbers and drop shippers.
d.
cash-and-carry wholesalers and auction houses.
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121. David is recently divorced and his ex-wife took most of their kitchen equipment when she relocated. He's
decided to host a Pampered Chef party and invite friends who enjoy cooking. He knows that they will enjoy
sampling various dips and dishes and will likely buy an item or two. He can purchase Pampered Chef items at a
discount and may even earn free items as a benefit of hosting the party. Pampered Chef is classified as a(n):
a.
direct sales retailer
b.
mass merchandiser
c.
specialty retailer
d.
retail cooperative
122. After identifying a target market, a retailer must:
a.
concentrate on determining the ideal levels of inventory to be maintained.
b.
devise marketing plans to expand their target market.
c.
develop marketing strategies to attract chosen customers to its stores or websites.
d.
segment the market based on factors such as family income and customer lifetime value.
123. Which of the following terms refers to the combination of physical characteristics and amenities that
contribute to a store’s image?
a.
Atmospherics
b.
Simulation
c.
Tableaux
d.
Logistics
124. Menards is known primarily as a home improvement store with lumber, plumbing, paint, electrical, and
tools as their most sought-after products. However, the store also features a "grocery" section with milk, break,
cereal, and other staple items in its store. This is an example of __________, the practice of combining
dissimilar product lines to boost sales volume.
a.
scrambled merchandising
b.
retail convergence
c.
retail confusion
d.
diverse merchandising
125. _____ represent nonrefundable fees grocery retailers receive from manufacturers to secure shelf space for
new products.
a.
Switching costs
b.
Franchise fees
c.
Carrying costs
d.
Slotting allowances
126. A _____ wholesaler performs most wholesaling functions except for financing and delivery.
a.
commission
b.
clearing
c.
brokering
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d.
cash-and-carry
127. Which of the following statements is true of warehouse retailers?
a.
They incur high operation costs because of the wide range of services they offer.
b.
They offer more services than department stores in return for higher priced goods.
c.
They send direct mail to their customers and sell the advertised goods from showrooms that display
samples.
d.
They offer huge selection at lower prices in single product lines.
128. The combination of the retailing mix - merchandise strategy, customer service standards, pricing
guidelines, target market analysis, promotion goals, location/distribution decisions and store atmosphere create
a retailer's ________.
a.
image
b.
brand
c.
competitive position
d.
differential advantage
129. Dmitri recently opened a sporting goods store. There are several other sporting goods stores in his town, all
of which have been open for several years. These rival businesses offer reasonably priced goods as well as such
“extras” as appointments with equipment consultants, in-house equipment personalization, and special ordering
of items not included in the regular store inventory. Dmitri knows that he needs to make his new business stand
out if it is going to compete successfully with the established businesses.
According to the wheel of retailing, what strategy would help Dmitri gain a foothold for his business in the local
sporting goods market?
a.
offer a service that none of his rivals offer
b.
offer limited services and lower prices than his rivals
c.
offer the same services as his rivals and lower his prices
d.
offer exactly the same product prices and services as his rivals
e.
offer products and services that are slightly different from those of his rivals
130. Which of the following wholesaling intermediaries carries inventory?
a.
A commission merchant
b.
A broker
c.
A manufacturer’s agent
d.
A selling agent
131. Limited-line retailers that offer huge selections and low prices in single product lines are called _____.
a.
specialty stores
b.
predatory retailers
c.
category killers
d.
convenience retailers
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132. When purchasing a new home, Tim and Brenda were represented by their realtor and met at their attorney's
office to authorize the paperwork transferring the home from the sellers to them. The attorney provided _____
utility as part of the purchase of the home.
a.
possession
b.
place
c.
time
d.
legal
133. Which type of non-store retailing both allows products to be easily demonstrated and allows time for
prospective customers to become well informed about the product?
a.
television home shopping
b.
automatic merchandising
c.
mail-order wholesaling
d.
catalog marketing
e.
telemarketing
134. Which of the following independent wholesaling intermediaries ranks as a relatively high-cost intermediary
because of the number of services it performs?
a.
Rack jobber
b.
Drop shipper
c.
Mail-order wholesaler
d.
Cash-and-carry wholesaler
135. Which of the following is one of the fundamental steps in the marketing strategy process on which a
retailer bases its key decisions?
a.
Selecting a target market
b.
Stipulating a minimum profit margin
c.
Determining the store location and atmosphere
d.
Determining the method of inventory management
136. You have been asked to evaluate the services provided to your book publishing firm by its wholesaling
intermediaries. To begin, you create a table listing the types of services your firm expects to receive from each of these
specialists. The table includes all of the following except:
a.
Providing a sales force to call on bookstores
b.
Maintaining book warehouses
c.
Providing prompt delivery of new books
d.
Evaluating the credit risk of small or independent book shops
e.
Repairing damaged books
137. A lifestyle center is a type of planned shopping center that:
a.
provides a wide assortment of convenience, shopping, and specialty goods, plus many service
facilities.
b.
is usually located near a regional or superregional mall and brings together several huge specialty
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stores as standalone stores in a single trading area.
c.
offers a combination of shopping, live entertainment, movie theatres, restaurants, decorative
fountains, and much more in an attractive outdoor environment.
d.
offers a product mix that is usually confined to convenience items and some limited shopping goods.
138. Which of the following is an example of scrambled merchandising?
a.
A supermarket carrying canned goods, fresh fish, tropical fruits, and bulk grains
b.
A jewelry store carrying rings, watches, TVs, electronic games, and DVDs
c.
A drug store carrying prescription drugs, over-the-counter medications, and health care items
d.
A shoe store carrying shoes, shoe polish, socks, and leather bags
139. A retail establishment that carries a wide variety of product lines, stocking all of them in some depth is
referred to as a _____.
a.
rack jobber
b.
category killer
c.
specialty store
d.
general merchandise retailer
140. _____ are increasingly taking on the role of channel captain within many distribution networks.
a.
Manufacturers
b.
Large-scale retailers
c.
Consumers
d.
Suppliers
141. Which of the following is a form of marketing that manufacturers use to completely bypass wholesalers
and retailers?
a.
Mass merchandising
b.
Direct selling
c.
Mass marketing
d.
Scrambled merchandising
142. Which of the following statements best describes the impact of Internet technology on the retail sector?
a.
Internet-based retailers with virtual storefronts have started to replace traditional retailers.
b.
Traditional brick-and-mortar retailers have expanded and thrived by incorporating Internet retail.
c.
Internet technology has led to better communication between manufacturers and retailers, making
wholesalers less relevant.
d.
Traditional brick-and-mortar and direct retailers have suffered declines because Internet retail is
friendlier to the environment.
e.
Internet technology has allowed retailers to offer many products at lower prices, but has also had
negative effects on the development of retailer-customer relationships.
143. The new CEO of a struggling cell phone service provider is trying to revitalize the company by revamping
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its business strategy. The CEO surveys the current service provider market and sees that there are a few large
companies with similar business models: customers are required to chose from a limited number of plans, and
are then locked into those plans for at least two years by contract. In order to even enter into a contract with the
service provider, the customer must have proof of a steady income and be able to pass a credit check. The CEO
sees that many individuals in the 15 to 24-year-old age bracket cannot meet these standards and are not being
served by the larger companies. She decides to make her company unique by offering no-contract, pay-as-you-
go cell phone service. Customers do not need to pass a credit check or provide proof of income in order to sign
up for service, and can discontinue service at any time.
According to this scenario and your knowledge of marketing strategies, which statement best explains the new
CEO’s actions?
a.
The CEO felt sorry for people with bad credit because other cell phone companies were not meeting
their needs, so she decided to create a company that did.
b.
The CEO decided to create a unique business plan even though it would not meet the needs of the
majority of the population, just so that her company would stand out.
c.
The CEO created a business plan that would target the low-income market, knowing she could take
advantage of the fact that other companies require proof of income.
d.
The CEO wanted to make an alternative cell phone service available for indecisive people who
disliked the contracts and plan choices required by other companies.
e.
The CEO realized that the youth segment of the market was not being served and decided to fill that
niche in the business by creating a business plan that targeted it.
144. Possession utility can occur even if the actual title is not transferred, as in the case of:
a.
vending machine transactions.
b.
beauty salon services.
c.
car rentals.
d.
college education.
145. A mail-order wholesaler is a limited-function merchant wholesaler that:
a.
distributes catalogs instead of sending sales representatives to contact customers.
b.
exerts full authority over pricing decisions and promotional outlays, and even provides financial
assistance for the manufacturer.
c.
conducts its business by sending sales representatives to contact retail, business, and institutional
customers.
d.
accepts orders from customers and forwards these to manufacturers who ship the products direct to
the customer.
146. A _____ is usually located near a regional or superregional mall, and brings together several huge specialty
stores as standalone stores in a single trading area.
a.
lifestyle center
b.
power center
c.
community shopping center
d.
regional shopping center
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147. A _____ is a full-function merchant wholesaler that markets specialized lines of merchandise to retail
stores.
a.
drop shipper
b.
truck wholesaler
c.
rack jobber
d.
commission merchant
148. General product categories, specific product lines, specific products within lines, and the depth and width
of its assortment are factors considered by retailers while developing their:
a.
product liability strategy.
b.
interactive marketing policy.
c.
customer service program.
d.
merchandising strategy.
149. A _____ is a limited-function wholesaler that markets perishable food items.
a.
cash-and-carry wholesaler
b.
truck jobber
c.
mail-order wholesaler
d.
drop shipper
150. A _____ provides space for permanent showrooms and exhibits, which manufacturers rent to market their
goods.
a.
discount house
b.
trade fair
c.
merchandise mart
d.
clearing house
151. Marco is a representative for Nationwide Magazines and serves the central southwest region. He provides
inventory for a variety of retail stores such as grocery, drug, and convenience stores and is responsible for
maintaining the stock and appearance of magazines in the stores. He and his company are known as:
a.
rack jobbers
b.
truck jobber
c.
merchant wholesaler
d.
drop shipper
152. Typically, bread and dairy products are delivered to stores by wholesale intermediaries called:
a.
drop shippers.
b.
rack jobbers.
c.
truck wholesalers.
d.
clearing agents.
153. The basic distinction between a company's sales branches and its sales offices is that:
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a.
sales branches carry inventory whereas sales offices do not.
b.
sales branches are manufacturer-owned, whereas sales offices are not.
c.
sales branches are always national, whereas sales offices are always local.
d.
sales branches are used only for services, whereas sales offices are used only for physical goods.
154. A new specialty retail store, Threads is making decisions about its target market and access the US Census
Bureau website to identify the characteristics of individuals living within its market area. It's specifically
interested in the distribution based on income, education, and age of residents. This information helps Threads
understand the ______ profile of the market area.
a.
demographic
b.
geographic
c.
psychographic
d.
purchasing
155. The importance of selling agents in many markets has declined because:
a.
many firms are increasingly turning to financial institutions for financial assistance.
b.
manufacturers want better control of their marketing programs than selling agents allow.
c.
profit margins for selling agents have been steadily eroding in perishable foods and processing
industries.
d.
manufacturers prefer to contract out exclusive rights to market a product while selling agents operate
in specific territories.
156. _____ are groups of retail outlets that operate under central ownership and management and handle the
same product lines.
a.
Specialty stores
b.
Chain stores
c.
Variety stores
d.
Department stores
157. One of the main ways in which a wholesaling intermediary can cut the costs of buying and selling between
manufacturers and customers is by __________________.
a.
taking on the risk of merchandise spoilage, theft, or obsolescence
b.
providing marketing information to manufacturers and customers
c.
representing multiple producers and reducing the number of transactions
d.
facilitating the exchange of merchandise titles from producers to customers
e.
using agents and brokers who do not actually take title to merchandise
158. Which of the following statements is true regarding manufacturer’s representatives?
a.
They typically work for only one firm.
b.
They contract for exclusive rights to market a product.
c.
They are paid on a commission basis.
d.
They take the title of the products from a manufacturer and then sell these products to customers.
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159. Tanisha is the manager of a grocery store in a beach town. During the summer, many vacationers visit the
store. Although the store experiences an increase in total revenue during these months, Tanisha believes that she
can boost sales further by expanding the grocery store’s offerings to include nonfood items that vacationers
might need. Tanisha is going to start stocking sunscreen, sand toys, postcards and travel guides, and even some
inexpensive beach wear.
What marketing strategy does Tanisha’s decision best demonstrate?
a.
retail convergence
b.
scrambled merchandising
c.
targeted marketing
d.
mass merchandising
e.
specialty retailing
160. In order for a new business to be competitive in the market, it must often offer lower prices than its more
established rivals. The business may cut services or offer fewer services so that it can offer these reduced prices
while maintaining a profit margin. As the business becomes more established and its older rivals are put out of
business, it can begin to offer more services and raise its prices.
Which of the following concepts does the paragraph best illustrate?
a.
retailing strategy
b.
retail convergence
c.
evolution of retail
d.
wheel of retailing
e.
targeted retail
161. In a(n) _____, inventory changes frequently as customers take advantage of special price offers from
manufacturers selling excess merchandise.
a.
lifestyle center
b.
off-price retail store
c.
full-service distribution center
d.
merchandise mart
162. A store's exterior appearance, including architectural design, window displays, signs, and entryways:
a.
exerts no influence on the retailer's image.
b.
exerts a major influence on the pricing of the goods sold by the store.
c.
helps identify the retailer and attract its target market.
d.
indicates the range and assortment of product lines it offers.
163. Which of the following services provided by a wholesaling intermediary would be an example of the
intermediary’s creating place utility for consumers?
a.
selling
b.
buying
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c.
financing
d.
transporting
e.
risk taking
164. Which elements of retail strategy would be most important for a company that has just decided to construct
a brick-and-mortar storefront?
a.
location and customer service
b.
store atmospherics and customer service
c.
promotion and store atmospherics
d.
location and store atmospherics
e.
promotion and customer service
165. Which of the following wholesaling intermediaries delivers goods to the consumers?
a.
An auction house
b.
A commission merchant
c.
A broker
d.
A selling agent
166. A retailer that offers a large assortment within a single product line or within a few related product lines is
known as a(n):
a.
limited-line store.
b.
industrial distributor.
c.
specific-line store.
d.
rack jobber.
167. Which of the following statements is true of selling agents?
a.
They do not provide financial assistance for the manufacturer.
b.
They are ideal marketing channels for large, financially strong, and customer-oriented firms.
c.
They typically have minimal control over pricing decisions and promotional outlays.
d.
They mainly operate in the coal, lumber, and textiles industries.
168. Retailers, when classified on the basis of form of ownership, are grouped as:
a.
wholesalers and service providers.
b.
convenience, shopping, and specialty retailers.
c.
chain stores and independent retailers.
d.
limited-line and general merchandise retailers.
169. drop shipperAlejandro is the manager of a combination gas station and convenience store located at the
intersection of two busy highways. Recently he was approached by the owner of a new company, Fro2Go,
about the possibility of placing their product in his store. Fro2Go places its frozen yogurt dispensers in
convenience stores throughout the state. Every week, a company representative visits each location to check on
status of the dispensers, deliver fresh frozen yogurt supplies, and remove any old or expired product.
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What kind of independently owned wholesaling intermediary is Fro2Go?
a.
rack jobber
b.
drop shipper
c.
truck wholesaler
d.
industrial distributor
e.
cash-and-carry wholesaler
170. A(n) _____ stocks only designer labels or well-known brand name clothing at prices equal to or below
regular wholesale prices.
a.
discount store
b.
hypermarket
c.
supercenter
d.
off-price retailer
171. Fastenal was one of the first business-to-business suppliers to offer vending machines or kiosks in
manufacturing facilities to enable their customers' employees to "purchase" supplies such as gloves and safety
equipment including goggles, ear protection, and masks. This innovation enabled the customers to track their
purchases and hold employees accountable for using supplies. This is an example of:
a.
automatic merchandising
b.
telemarketing
c.
direct-response retailing
d.
direct mail
172. Wholesaling intermediaries help producers in transporting by:
a.
reporting on competitors’ activities and industry trends.
b.
purchasing in economical truck load lots and then reselling in smaller quantities.
c.
offering research inputs through regular contacts with retail and business buyers.
d.
reducing their inventory turnover rates.
173. Which of the following industries is most likely to be served by a limited-function wholesaler?
a.
Oil industry
b.
Petrochemical industry
c.
Sporting goods industry
d.
Aviation industry
174. A _____ is an agent wholesaling intermediary that does not take title to or possession of goods in the
course of its primary function, which is to bring together buyers and sellers.
a.
truck jobber
b.
broker
c.
mass merchandiser
d.
drop shipper
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175. When wholesalers transport and stock products in inventory, they accept the possibility of spoilage, theft,
or obsolescence. This function performed by the wholesaling intermediary is referred to as _____.
a.
selling
b.
analyzing
c.
risk taking
d.
financing
176. Which statement best describes the similarities between retail convergence and scrambled merchandising?
a.
Both are frustrating to consumers because they make it difficult to know which stores carry certain
items.
b.
Both terms describe the contemporary retail market, in which similar items are available from
multiple retailers.
c.
Both are retail trends that are blurring the lines between different types of retailers, making
classification difficult.
d.
Both terms describe the practice of offering very dissimilar products at the same location in the hope
of increasing overall sales.
e.
Both are methods used to classify types of retailers by such characteristics as “form of store
ownership” and “services provided.”
177. Casey's General Store is a popular ______-type retailer offering gasoline, snacks, extended store hours, and
rapid checkout service.
a.
convenience
b.
grocery
c.
discount
d.
specialty
178. What types of utility are created by wholesaling intermediaries when they make a product available at a
convenient location at the moment it is needed by the customer?
a.
Possession and location
b.
Ownership and form
c.
Place and time
d.
Time and possession
179. The concept of the wheel of retailing attempts to explain:
a.
the process by which retailers decide the amount and types of products to be sold in the retail stores.
b.
the chain of distribution that is followed by a product before it reaches a retail store.
c.
the process by which prices are set in retailing.
d.
the patterns of change in retailing.
180. Vending machines are an example of:
a.
automatic merchandising.
b.
Internet retailing.
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c.
telemarketing.
d.
direct selling.
181. The strategy of convincing a customer to buy a higher-priced item than he or she had originally intended is
called:
a.
cross-selling.
b.
value-added selling.
c.
selling up.
d.
bait-and-switch selling.
182. A _____ contains around 10 to 30 retail stores with a branch of a local department store or some other large
store as a primary tenant, and it serves 20,000 to 100,000 people in a trading area extending a few miles from its
location.
a.
power center
b.
regional shopping center
c.
lifestyle center
d.
community shopping center
183. A department store is a:
a.
retail outlet offering huge selections and low prices in a single product line.
b.
retail store that handles only some part of a single product line.
c.
retailing format that offers movie theatres and restaurants along with live entertainment in an
attractive outdoor environment.
d.
series of limited-line and specialty stores gathered under one roof.
184. A _____ is an agent wholesaling intermediary that represents manufacturers of related but noncompeting
products and receives a commission on each sale.
a.
manufacturers’ merchant
b.
selling agent
c.
manufacturers’ agent
d.
clearing agent
185. Which of the following is most likely to be true of hypermarkets?
a.
They are somewhat smaller than the similar supercenters, averaging 180,000 square feet to the
supercenters’ 245,000 square feet.
b.
They initially started as stores selling mostly electronic appliances but now sell soft goods, foods, and
furniture.
c.
They are giant one-stop shopping facilities that offer wide selections of grocery and general
merchandise products at discount prices.
d.
They carry out promotion to their customers using direct mail and sell from showrooms that display
samples.
186. A _____ charges low prices and offers fewer services.
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a.
full-service retailer
b.
department store
c.
discount house
d.
convenience store
187. _____ are the retail stores that incur relatively high operating costs because of the wide range of services
they offer.
a.
Department stores
b.
Industrial distributing shops
c.
Merchandise marts
d.
Warehouses
188. Dani works in the fine fragrances sales floor in a major department store. She recently attended a
mandatory training seminar in which sales personnel were coached on ways to increase sales through personal
interactions with customers. Now Dani is putting what she learned to work. When customers ask her the price
of a single bottle of fragrance, Dani gives them the information they want but also lets them know that for a
slightly higher cost, they can purchase a gift set. The gift set contains a slightly smaller bottle of the fragrance
but includes lotion and shower gel in the same scent. Since Dani started using this technique, the average value
of each sale she makes has increased by 15%.
Based on Dani’s actions, which component of the department store’s retail strategy did the training seminar
focus on?
a.
pricing
b.
promotion
c.
merchandising
d.
customer service
e.
store atmospherics
189. When buyers refuse to pay a product’s stated price or when improvements in other items or fashion
changes reduce the appeal of the current merchandise, a retailer must take a _____.
a.
slotting allowance
b.
switching fee
c.
rebate
d.
markdown
190. The situation in retailing in which similar merchandise is available from multiple retail outlets
distinguished by price more than any other factor is known as:
a.
scrambled merchandising.
b.
wholesale concentration.
c.
mail-order proliferation.
d.
retail convergence.
191. Volkswagen recently launched an ad campaign designed to market its Crafter model vans to wholesalers. In
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the televised version of the ad, viewers see a giant QR code being constructed out of packing crates. A passing
individual with a smart phone scans the “code” from a distance and is taken to a video which shows the same
QR code being disassembled and all of the packing crates being placed inside a Volkswagen Crafter van. The
final seconds of the ad reemphasize the carrying capacity of the van and how ideal it is for businesses that need
delivery vehicles.
Which of the following concepts does the ad campaign demonstrate?
a.
Business-to-business (B2B) marketing is currently the fastest-growing marketing segment.
b.
Newer forms of advertisement and marketing can now be used to target the wholesale market.
c.
The Internet and associated technologies are used to support new and innovative marketing
strategies.
d.
The Internet allows manufacturers to advertise directly to regular consumers, reducing the
importance of the wholesale sector.
e.
Businesses that specialize in the development of marketing strategies face increased competition
from the free marketing provided by social media users.
192. Grainger is a wholesaler who specializes in fasteners and tools for manufacturing and commercial
customers. They produce a large catalog of their products and business customers may place orders by phone
or via the Internet through their web store. Customers enjoy the flexibility of shopping at their convenience and
purchasing items when they have a need rather than keeping their own inventory of these products. Grainger is
creating _____ utility for their customers.
a.
time
b.
place
c.
possession
d.
financial
193. _____ represent the distribution channel to most consumers because of their direct contact with the ultimate
consumers.
a.
Wholesalers
b.
Retailers
c.
Manufacturers
d.
Selling agents
194. Some supermarkets now offer in-store bank branches, photography studios, and Starbucks or Dunkin’ Donuts outlets.
This is an example of:
a.
Retail convergence
b.
Scrambled merchandising
c.
Hypermarkets
d.
Supercenters
e.
Direct marketing
195. An independent wholesaling intermediary who brings together buyers and sellers but represents only one of
the parties and receives a fee when the transaction is completed is a ______________.
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a.
manufacturers' representative
b.
commission merchant
c.
selling agent
d.
rack jobber
e.
broker
Indicate one or more answer choices that best complete the statement or answer the question.
196. You are worried about adding too high a markup to the watches you sell at your jewelry store. To reduce this markup
and still cover costs, you will focus on:
a.
Increasing inventory turnover rate
b.
Decreasing inventory turnover rate
c.
Reducing the number of retail services you perform
d.
Increasing the number of retail services you perform
e.
Carefully judging the price that consumers are willing to pay for your jewelry.
197. You face a key decision for your swimwear store: whether or not to add an e-commerce site where consumers can
directly purchase your products. You should weigh all of the following characteristics of e-commerce selling except:
a.
E-commerce selling is rarely used in conjunction with selling at brick-and-mortar stores.
b.
E-commerce selling can help keep your costs down.
c.
E-commerce sites can help personalize the selling of consumer products like swimwear.
d.
E-commerce sites always depersonalize the selling of consumer products like swimwear.
e.
E-commerce sites cannot reduce retailing costs.
198. You have always been interested in wholesaling operations, and would like to get a job with a merchant wholesaler.
Choose the type(s) of employers you will seek interviews with.
a.
Rack jobbers
b.
Truck wholesalers
c.
Drop shippers
d.
Brokers
e.
Selling agents
199. In selecting the target market for your gourmet tea store, you were influenced by multiple factors. These included:
a.
The number of people who appreciate and will go out of their way to buy gourmet tea.
b.
How much profit you can make by selling to gourmet tea enthusiasts.
c.
How stiff the competition will be from other tea merchants or sellers of substitute products.
d.
FDA standards for tea safety.
e.
All of the above
200. Getting ready to open Jim's Juice Bar, the owner has identified a target market: Jim will market to young
professionals aged 18–34 who live within a certain distance of the store. In the next step of his marketing strategy process,
Jim must specify elements of the retailing mix. These include all of the following except:
a.
Merchandise strategy
b.
Promotion goals
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c.
Store atmosphere
d.
Market research plan
e.
Employment plan
201. Garden Wholesalers is a wholesaling intermediary representing manufacturers of home gardening tools. Choose the
example(s) of utility this firm creates for consumers.
a.
Makes spades, pots, and other items available during prime planting seasons
b.
Helps deliver young trees to local nurseries
c.
Invents better seeds
d.
Improves the efficacy of pesticides
e.
Participates in cooperative advertising
202. After studying the success of direct marketers like Amway and Tupperware, you've decided to build a skin care
business based on this nonstore retailing approach. Choose the direct marketing tools you could use.
a.
Direct mail
b.
Telemarketing
c.
Mail-order catalogs
d.
Personal salespeople in cosmetics stores
e.
Direct shopping via cable TV
Match each item with the correct statement below.
a.
stock-keeping unit (SKU)
b.
markup
c.
markdown
d.
retail convergence
e.
scrambled merchandising
f.
atmospherics
g.
broker
h.
general merchandise retailer
i.
category killer
j.
rack jobber
k.
supercenter
l.
auction house
m.
specialty store
n.
retailers
o.
mass merchandiser
p.
truck jobber
q.
direct marketing
r.
drop shipper
s.
planned shopping center
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t.
wheel of retailing
203. _____ are the marketing intermediaries in direct contact with ultimate consumers.
204. _____ is a hypothesis that attempts to explain the patterns of change in retailing.
205. To identify varying items within a product line, retailers refer to a specific product offering as a(n) _____.
206. _____ is the amount a retailer adds to the cost of a product to determine its selling price.
207. _____ is the amount by which a retailer reduces the original selling price of a product.
208. A(n) _____ is a group of retail stores designed, coordinated, and marketed to shoppers in a geographic
trade area.
209. The physical characteristics and amenities of a store that attract customers and satisfy their shopping needs
are referred to as _____.
210. A limited-line retail store that offers huge selections and low prices in single product lines is known as a(n)
_____.
211. A(n) _____ typically handles only part of a single product line.
212. A(n) _____ emphasizes lower prices for well-known brand-name products, high product turnover, and
limited services.
213. A(n) _____ carries a wide variety of product lines, stocking all of them in some depth.
214. A(n) _____ is a large store that combines groceries with discount store merchandise.
215. _____ describes a situation in which similar merchandise is available from multiple retail outlets
distinguished by price more than any other factor.
216. _____ is a retailing practice of combining dissimilar product lines to boost sales volume.
217. A(n) _____ is a limited-function merchant wholesaler that markets perishable food items.
218. A(n) _____ accepts orders from customers and forwards these orders to producers, which then ship the
desired products directly to customers.
219. A(n) _____ is a full-function merchant wholesaler that markets specialized lines of merchandise to retail
stores.
220. A(n) _____ gathers buyers and sellers in one location and allows potential buyers to inspect merchandise
before submitting competing purchase offers.
221. A(n) _____ is an agent wholesaling intermediary whose primary function is to bring together buyers and
sellers.
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222. Internet retailing, vending machines, and telemarketing are examples of _____.
223. Define category killers. Give an example.
224. Identify and describe four types of limited-function merchant wholesalers.
225. Explain how store atmospherics help retailers to attract customers.
226. How are retailers classified on the basis of services provided? Give an example for each group.
227. How do retailers select target markets?
228. Discuss the pricing strategies used by retailers to attract consumers.
229. What is retailing? Why is retailing an essential part of the marketing channel?
230. What is scrambled merchandising? Give an example.
231. What are the different types of agents and brokers?
232. How are retailers classified on the basis of form of ownership? Explain the advantages of each type of
ownership.
233. Differentiate between a wholesaler and a wholesaling intermediary.
234. Explain the concept of retail convergence. Give an example.
235. How do retailers develop a marketing strategy?
236. What are the different services provided by wholesaling intermediaries?
237. Differentiate between a rack jobber and a drop shipper. Give an example for each.
238. Why do some manufacturers directly distribute their goods to the ultimate consumers? List out the different
types of company-owned facilities used by manufacturers for this purpose.
239. Discuss the wheel of retailing concept.
240. What are the different types of planned shopping centers?
241. What is Internet retailing? How has the Internet enhanced the functions of the direct marketers?
242. Discuss the different types of direct marketing.
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chapter 15
Answer Key
Name:
Class:
Date:
chapter 15
Name:
Class:
Date:
chapter 15
Name:
Class:
Date:
chapter 15
Name:
Class:
Date:
chapter 15
Name:
Class:
Date:
chapter 15
Name:
Class:
Date:
chapter 15
Name:
Class:
Date:
chapter 15
Name:
Class:
Date:
chapter 15
Name:
Class:
Date:
chapter 15
Name:
Class:
Date:
chapter 15
Name:
Class:
Date:
chapter 15
Name:
Class:
Date:
chapter 15
Name:
Class:
Date:
chapter 15
