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1 | |
____________ includes all of the activities involved in the sale of products to final customers. |
| | A) | Wholesaling |
| | B) | Retailing |
| | C) | Marketing |
| | D) | Distributing |
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2 | |
The retailer's whole offering, including assortment of goods and services, advice from salesclerks, and convenience is its __________________. |
| | A) | Product |
| | B) | Value |
| | C) | Logistics |
| | D) | Customer service level |
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3 | |
Which of the following are features of a retailer's offering that relate to economic needs? |
| | A) | Convenience and product selection |
| | B) | Fairness in dealings and helpful information |
| | C) | All of the above |
| | D) | None of the above |
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4 | |
Stores that specialize in certain lines of related products rather than a wide assortment are called ________________. |
| | A) | Boutique shops |
| | B) | Department stores |
| | C) | Discount houses |
| | D) | Limited-line stores |
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5 | |
Small shops with distinct personalities that aim at a carefully defined target market by offering a unique product assortment, knowledgeable salesclerks, and better service are called ___________________. |
| | A) | Specialty shops |
| | B) | Convenience stores |
| | C) | Franchise operations |
| | D) | Brokers |
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6 | |
The ________________ concept says that retailers should offer low prices to get faster turnover and greater sales volume. |
| | A) | Conventional retailing |
| | B) | Wheel of retailing |
| | C) | Mass-merchandising |
| | D) | Scrambled merchandising |
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7 | |
To be called a supermarket, a store must have annual sales of at least _____________ dollars. |
| | A) | 500,000 thousand |
| | B) | 2 million |
| | C) | 5 million |
| | D) | 10 million |
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8 | |
Net profits in supermarkets usually run _______ of sales, or less. |
| | A) | 1 percent |
| | B) | 5 percent |
| | C) | 10 percent |
| | D) | 25 percent |
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9 | |
_____________ are large, self-service stores with many departments that emphasize "soft goods" and staples, but still emphasize lower margins to get faster turnover. |
| | A) | Department stores |
| | B) | Mass-merchandisers |
| | C) | Convenience stores |
| | D) | Discount houses |
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10 | |
_________ are large, self-service stores with many departments that emphasize soft goods and staples, but still try to achieve lower margins and fast turnover. |
| | A) | Supercenters |
| | B) | Mass merchandisers |
| | C) | Hypermarkets |
| | D) | Discount houses |
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11 | |
The major disadvantage to automatic vending is high cost. |
| | A) | True |
| | B) | False |
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12 | |
The following characteristics describe on-line shopping, EXCEPT: |
| | A) | Customers tend to be younger and better educated |
| | B) | Comparative information is more extensive |
| | C) | Greater emphasis on one-time purchases |
| | D) | Higher percent of purchases are on weekends |
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13 | |
The ___________ theory says that new types of retailers enter the market as low-status, low-margin, low-price operators and then, if successful, evolve into more conventional retailers offering more services with higher operating costs and higher prices. |
| | A) | Wheel of retailing |
| | B) | Circle of merchandising |
| | C) | Scrambled merchandising |
| | D) | Mass-merchandising |
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14 | |
Most modern retailers are carrying any product lines they think they can sell profitably, thus moving towards ____________________. |
| | A) | Mass merchandising |
| | B) | Scrambled merchandising |
| | C) | Internet merchandising |
| | D) | Diffuse merchandising |
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15 | |
A firm that owns and manages more than one store is a ___________________. |
| | A) | Cooperative chain |
| | B) | Franchise operation |
| | C) | Corporate chain |
| | D) | Multi-chain operator |
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16 | |
A cooperative chain is a retailer-sponsored group, formed by independent retailers that form their own buying organizations. |
| | A) | True |
| | B) | False |
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17 | |
Franchise holders' sales account for about __________ percent of all retail sales. |
| | A) | 75% |
| | B) | 50% |
| | C) | 25% |
| | D) | 5% |
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18 | |
_____________ are concerned with the activities of those persons or establishments that sell to retailers and other merchants, and/or to industrial, institutional, and commercial users, but do not sell in large amounts to final consumers. |
| | A) | Retailers |
| | B) | Brokers |
| | C) | Manufacturer's agents |
| | D) | Wholesalers |
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19 | |
Merchant wholesalers own the products they sell. |
| | A) | True |
| | B) | False |
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20 | |
Which of the following is not one of the types of service wholesalers that provide all of the wholesaling functions? |
| | A) | General merchandise wholesalers |
| | B) | Single-line wholesalers |
| | C) | Limited-function wholesalers |
| | D) | Specialty wholesalers |
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21 | |
______________ own the products they sell, but they do not actually handle, stock , or deliver them. |
| | A) | Rack jobbers |
| | B) | Drop-shippers |
| | C) | Cash-and-carry wholesalers |
| | D) | Brokers |
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22 | |
A(n) ________________ sells similar products for several non-competing producers for a commission on what is actually sold. |
| | A) | Broker |
| | B) | Agent middleman |
| | C) | Manufacturers' agent |
| | D) | Selling agent |
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2003 McGraw-Hill Higher Education