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| 1 | |
__________ includes all activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family, or household use. |
| | A) | Manufacturing |
| | B) | Wholesaling |
| | C) | Retailing |
| | D) | Facilitating |
| | E) | Logistics |
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| 2 | |
Cmax.com is a retail website that allows customers to visit its website and design a sneaker to their own personal specifications. This website would particularly appeal to people who exercise regularly and are very aware of what shoe styles fit comfortably on their feet. Customix.com best represents how retailers create __________ utility. |
| | A) | price |
| | B) | form |
| | C) | place |
| | D) | time |
| | E) | promotion |
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| 3 | |
Which method of classifying retail outlets would be most appropriate for describing McDonald's, Holiday Inn, and Subway--all franchise operations? |
| | A) | form of ownership |
| | B) | level of service |
| | C) | merchandise line |
| | D) | method of operation |
| | E) | revenue generated |
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| 4 | |
Which of the following forms of retail ownership offers entrepreneurs the ability to be their own boss? |
| | A) | limited partnership |
| | B) | franchise |
| | C) | corporate chain |
| | D) | corporate proprietorship |
| | E) | independent retailer |
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| 5 | |
As a national franchisor, McDonald's assists its franchisees in selecting the store location, setting up the store, advertising, and: |
| | A) | paying their bills promptly. |
| | B) | shopping for the best food values. |
| | C) | keeping premises clean. |
| | D) | training personnel. |
| | E) | disciplining dishonest employees. |
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| 6 | |
Which of the following statements BEST describes the term depth of product line? |
| | A) | Every unique item in the store has its own SKU. |
| | B) | Every stage of the product life cycle is represented by specific products in the store. |
| | C) | The retailer carries a large variety of different products. |
| | D) | The retail establishment carries enough merchandise so it never has to worry about a stockout. |
| | E) | The retailer carries a large assortment of each item. |
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| 7 | |
A Woman's Place is a retail store, created and staffed by women, that offers products and services relating to maternity needs. It carries in stock 3,000 items for expectant mothers in all dress sizes. This is an example of the _________ a Woman's Place carries. |
| | A) | depth of product line |
| | B) | breadth of product line |
| | C) | variety of product line |
| | D) | versatility of product line |
| | E) | product mix |
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| 8 | |
Which of the following stores will have the greatest breadth of product line? |
| | A) | Target super store |
| | B) | Old Navy clothing store |
| | C) | Barnes & Noble bookstore |
| | D) | Ace hardware store |
| | E) | Family Dollar Store |
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| 9 | |
Scrambled merchandising is offering: |
| | A) | many related items in a single store |
| | B) | many related items in different stores in a regional mall. |
| | C) | several unrelated product lines in a single store. |
| | D) | several related product lines in a single store. |
| | E) | several related items in different stores in a regional mall. |
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| 10 | |
Stores that carry a broad product line, with limited depth, are referred to as : |
| | A) | general merchandise stores. |
| | B) | scrambled merchandisers. |
| | C) | limited-line retailers. |
| | D) | full-line retailers. |
| | E) | specialty outlets. |
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| 11 | |
Which of the following is considered nonstore retailing? |
| | A) | automatic vending |
| | B) | television home shopping |
| | C) | telemarketing |
| | D) | direct selling |
| | E) | all of the above |
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| 12 | |
Denny Howard is an avid fly fisherman who lives in Huston, a very small Alaskan village. For his hobby, Howard needs large rubber rafts, chest and hip waders, special fishing rods, reels, and line, and an assortment of fishing tackle and lures. There are no sporting goods stores in Huston, so Howard orders his fishing supplies from an L. L. Bean catalog. His supplies are generally delivered to his home within 72 hours. Howard is using a __________ to satisfy his fishing supply needs. |
| | A) | home delivery retailer |
| | B) | quick response retailer |
| | C) | direct mail marketer |
| | D) | flex response marketer |
| | E) | regional marketer |
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| 13 | |
Door-to-door retailing involves direct sales of goods and services to consumers through personal interactions and demonstrations in their homes or offices while direct selling: |
| | A) | involves demonstrations within stores. |
| | B) | uses the telephone to interact with customers. |
| | C) | allows consumers to evaluate and order products through the Internet. |
| | D) | sells through demonstrating and displaying products on television. |
| | E) | is exactly the same thing. |
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| 14 | |
A regional manufacturer of dairy products has developed a frozen soy-based yogurt product. It feels the choice of distribution channel is critical to the product's success, especially since it wants to have the product distributed nationally. However, it will take some time before sales take off, and it wants to make sure the marketing program is consistent everywhere. It should use: |
| | A) | its own sales force to sell directly to retailers. |
| | B) | the services of a selling agent to sell to general merchandise wholesalers who will sell to retailers. |
| | C) | a dual distribution system composed of both direct and indirect wholesalers. |
| | D) | a rack jobber who will sell to a merchant wholesaler and who will in turn sell to retailers. |
| | E) | manufacturers' agents to sell to truck jobbers who in turn will deal with retailers. |
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| 15 | |
The small shelving display of audiotapes and book selections in many convenience stores are not owned by the convenience store owners, but rather by __________ who sell on consignment through the retailers. |
| | A) | cash and carry wholesalers |
| | B) | rack jobbers |
| | C) | truck jobbers |
| | D) | general merchandise wholesalers |
| | E) | drop shippers |
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| 16 | |
The retailing mix contains four elements. They are the retail pricing, store location, retail communication and: |
| | A) | utility. |
| | B) | store image and atmosphere. |
| | C) | guarantees and exchanges. |
| | D) | available telemarketing mix. |
| | E) | merchandise. |
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| 17 | |
A retailer bought a pair of designer eyeglass frames for $She sets the initial selling price at $48 dollars. The final selling price was $How much was the original markup? |
| | A) | $32 |
| | B) | $48 |
| | C) | $16 |
| | D) | $34 |
| | E) | cannot be determined because manufacturer's cost is not given. |
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| 18 | |
T.J. Maxx, Burlington Coat Factory and Ross Stores are all examples of: |
| | A) | power centers. |
| | B) | one-price apparel chains. |
| | C) | off-price retailers. |
| | D) | hypermarkets. |
| | E) | direct marketers. |
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| 19 | |
A huge shopping strip with multiple anchor (or national) stores is called a: |
| | A) | central business district. |
| | B) | regional shopping center. |
| | C) | community shopping center. |
| | D) | strip location. |
| | E) | power center. |
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| 20 | |
Lands' End is primarily known as a catalog retailer. However, since Sears purchased the company, some Lands' End products are also available in Sears retail stores and sell at its website www.landsend.com. Lands' End is an example of one of the trends in retailing because it has: |
| | A) | used all of the elements of the utility mix. |
| | B) | created customers' needs where needs used to not exist. |
| | C) | uses a variety of sales locations to continually reposition itself on the retail positioning matrix. |
| | D) | eliminated the need for intermediaries to perform facilitating functions. |
| | E) | become a multichannel retailer. |
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