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| 1 | |
A men's clothing store that offers alterations is providing its customers with __________ utility. |
| | A) | time |
| | B) | place |
| | C) | possession |
| | D) | form |
| | E) | product |
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| 2 | |
Which of the following is NOT a commonly used method of classifying retail outlets? |
| | A) | level of service |
| | B) | form of ownership |
| | C) | merchandise line |
| | D) | revenue generated |
| | E) | independent retailer |
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| 3 | |
Warehouse stores, gas stations, and grocery stores typically provide what level of retail service? |
| | A) | full-service |
| | B) | limited service |
| | C) | self-service |
| | D) | customized service |
| | E) | functional service |
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| 4 | |
The largest inventory of wedding dresses in the Southeast can be found at Low's Bridal and Formal in Brinkley, Arkansas. Low's Bridal and Formals is an example of a(n): |
| | A) | specialty outlet. |
| | B) | general merchandise store. |
| | C) | scrambled merchandise store. |
| | D) | intertype outlet. |
| | E) | hypermarket. |
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| 5 | |
Wal-Mart Supercenters have __________ which can be described as scrambled merchandising. |
| | A) | a broad product assortment |
| | B) | little merchandise variety |
| | C) | several unrelated product lines |
| | D) | a great deal of product depth |
| | E) | no stockouts |
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| 6 | |
__________ involves using the telephone to interact with and sell directly to consumers. |
| | A) | Online retailing |
| | B) | Telemarketing |
| | C) | Direct selling |
| | D) | Television home shopping |
| | E) | Door-to-door selling |
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| 7 | |
Which form of nonstore retailing is best used to increase consumer knowledge about products and brands? |
| | A) | automatic vending |
| | B) | television home shopping |
| | C) | telemarketing |
| | D) | direct selling |
| | E) | online retailing |
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| 8 | |
Prices in vending machines tend to be higher because: |
| | A) | machines are placed in high demand areas. |
| | B) | maintenance and operating costs are high. |
| | C) | only small unit volume items are sold. |
| | D) | customary pricing requires certain coin amounts regardless of markup. |
| | E) | most people do not buy from vending machines. |
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| 9 | |
Which of the following statements about direct mail and catalog retailing is true? |
| | A) | Direct mail and catalog retailing have the lowest level of customer involvement and retailer involvement of all forms of nonstore retailing. |
| | B) | Direct mail and catalog sales are a purely U.S. business form. |
| | C) | Direct mail and catalog retailing are used for prospecting not customer retention. |
| | D) | Direct mail and catalog retailing is attractive because it eliminates the cost of a store and sales clerks. |
| | E) | All of the above statements about direct mail and catalog retailing are true. |
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| 10 | |
Store location, retail pricing, retail communication and merchandise are all part of the __________ mix. |
| | A) | physical distribution |
| | B) | place utility |
| | C) | logistics |
| | D) | services |
| | E) | retailing |
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| 11 | |
The Louver Shop is a retail store that sells hardwood window shutters made to fit most sizes of windows. Its website is www.louvershop.com. The Louver Shop is a __________ retailer. |
| | A) | transaction |
| | B) | multichannel |
| | C) | nonstore |
| | D) | distribution |
| | E) | goods and services |
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| 12 | |
Which of the following statements about direct selling is true? |
| | A) | Unlike other forms of nonstore retailing, direct selling takes place in the business market. |
| | B) | Direct selling is only found in the United States. |
| | C) | Direct sales succeeds because it provides customers with convenience and personalized service. |
| | D) | In the United States, direct sales have been growing rapidly. |
| | E) | By definition, direct selling can only take place in a home. |
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| 13 | |
Neurosmith, a new toy company, launched Music Blocks, a $70 set of electronic blocks that young children arrange in different combinations to create music and experiment with sound. To get the toy into the hands of the retailers, Neurosmith chose to use a __________ to be principally responsible for the transactional channel functions. |
| | A) | rack jobber |
| | B) | drop shipper |
| | C) | truck jobber |
| | D) | manufacturer's agent |
| | E) | broker |
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| 14 | |
When developing marketing strategies, marketing managers use the elements of the marketing mix, which includes product, price, place, and promotion. The marketer can effectively control these elements to develop marketing strategies and to change those strategies in response to environmental changes. In a similar fashion, when developing retailing strategies, marketers use what is called the retailing mix, which includes: |
| | A) | merchandise, store location, retail communication, and retail pricing. |
| | B) | goods and services, promotions, and communications. |
| | C) | physical distribution, promotions, and communications. |
| | D) | physical distribution, products, and personal selling. |
| | E) | products, price, and personal selling. |
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| 15 | |
When compared to discount stores, off-price retailers: |
| | A) | have a larger target market. |
| | B) | have a larger per capita volume. |
| | C) | sell off-price merchandise, which is bought by the retailer at wholesale prices. |
| | D) | sell off-price merchandise, which is bought by the retailer at below wholesale prices. |
| | E) | sell more expensive off-price merchandise. |
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| 16 | |
John O'Driscoll works from his home, using the phone to match buyers and sellers of beans. John is which type of wholesaler? |
| | A) | merchant wholesaler |
| | B) | broker |
| | C) | manufacturer's office |
| | D) | specialty merchandise wholesaler |
| | E) | general merchandise wholesaler |
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| 17 | |
Gas stations, hardware stores, laundries, grocery stores and pharmacy outlets are commonly found in a __________. |
| | A) | suburban mall containing up to 100 stores that the typical drawing distance is over 5 to 10 miles from the mall. They often contain one or two anchor stores. |
| | B) | cluster of stores in a downtown area. |
| | C) | a strip location. |
| | D) | regional shopping center. |
| | E) | collection of large stand-alone stores (over 100,000 square feet) that offer a mix of 40 percent food products and 60 percent general merchandise items. |
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| 18 | |
A power center is a variation of a: |
| | A) | central business district. |
| | B) | freestanding tower. |
| | C) | planned regional shopping mall. |
| | D) | strip center. |
| | E) | community mall. |
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| 19 | |
The wheel of retailing: |
| | A) | describes how new forms of retail outlets enter the market. |
| | B) | explains how to position retail outlets on the retail positioning matrix. |
| | C) | relates the development of the marketing mix to the development of the retailing mix. |
| | D) | explains why online retailing will not lead to disintermediation. |
| | E) | does none of the above. |
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| 20 | |
Accelerated development in the retail life cycle is similar to which stage in the product life cycle? |
| | A) | introduction phase |
| | B) | growth |
| | C) | maturity |
| | D) | decline |
| | E) | harvest |
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