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Questions
Q:
Sally Beauty Supply sells products for hair, skin, and nail care as well as cosmetics. It is most likely classified as which retail variation based on the considerable assortment of beauty and personal care products in carries?
A. single-line
B. full service
C. full-line
D. limited service
E. limited-line
Q:
Stores that carry a considerable assortment (depth) of a related lines of items are referred to as
A. limited-line stores.
B. general merchandise stores.
C. scrambled merchandise stores.
D. hypermarkets.
E. intertype outlets.
Q:
Identify and describe the functions of agents and brokers.
Q:
Your local Target retailer carries a variety of different items. You can find everything ranging from socks and DVDs to baby items and groceries. This is an example of the __________ carried by Target.
A. breadth of product line
B. depth of product line
C. variety of brand extension
D. breadth of product class
E. product mix
Q:
Explain the difference between full-service and limited-service merchant wholesalers. List and describe the types of wholesalers that belong in each category.
Q:
Describe the retail life cycle.
Q:
New Balance offers shoes for men, women, and children in many sizes and foot widths. It offers running, cross training, walking, golf, and other types of shoes. This is an example of the __________ that New Balance offers to its customers through its own stores or other retailers such as Foot Locker or Sports Authority.
A. product item mix
B. depth of product line
C. versatility of product family
D. breadth of product line
E. variety of product mix
Q:
Explain how the wheel of retailing works.
Q:
Your local Hallmark retailer carries thousands of greeting cards. You can find cards for a twins birthday, from my cat to yours, and many other unique occasions. This is an example of the __________ that the Hallmark retailer carries.
A. depth of product line
B. variance of product line
C. breadth of product line
D. coverage of product line
E. scope of product line
Q:
What is category management and when is it used?
Q:
A large assortment of each item within a product line in a store is referred to asA. product span.B. breadth of product line.C. length of product line.D. width of product line.E. depth of product line.
Q:
List the four store locations or settings. How has the location of stores changed over the years?
Q:
Retail outlets vary by their merchandise lines, the key distinction being the __________ and __________ of the items offered to customers.
A. scope; span
B. breadth; depth
C. breadth; inventory
D. scope; inventory
E. range; span
Q:
What is off-price retailing? Identify and give an example an off-price retailer.
Q:
A Woman's Place is a retail store, created and staffed by women, that offers products and services relating to maternity needs. For expectant mothers, it offers advice and personal shopping services, help with hair and/or make-up problems, and free delivery. A Woman's Place is an example of a(n) __________ retailer.
A. franchise-service
B. self-service
C. limited-service
D. full-service
E. specialty-service
Q:
Explain what a markdown is and its timing (i.e. when a retailer uses it).
Q:
Nordstrom stores typically have 50 percent more salespeople on the floor than others retailers with stores of similar sizes. Its salespeople are renowned for their professional and personalized attention to customers. Nordstrom would be considered a(n) __________.
A. exclusive-service retailer
B. limited-service retailer
C. full-service retailer
D. upscale-retailer
E. limited-domain retailer
Q:
Explain the difference between a markup, an original markup, and a maintained markup.
Q:
Williams-Sonoma is a specialty store that caters to customers who want to cook at home. It offers free cooking classes, has frequent demonstrations by cookbook authors, and has employees who are knowledgeable about food preparation. The sales staff helps customers make their selections. Williams-Sonoma is a(n) __________ retailer.
A. exclusive-service
B. full-service
C. complete-service
D. self-service
E. limited-service
Q:
What is the retailing mix?
Q:
Kitchen Window is a one-stop treasure trove for cooks. The locally-owned gourmet specialty store carries more than 14,000 items in stock. Its knowledgeable staff offers personalized service that will even gift-wrap your purchases free of charge. It also offers a shop for repairs should your appliances need maintenance. Kitchen Window is a __________ retailer.
A. exclusive-service
B. premium-service
C. self-service
D. limited-service
E. full-service
Q:
Explain why direct mail and catalogs are an attractive form of retailing.
Q:
Godiva Chocolatier invites consumers to stop by one of its stores for an unforgettable experience, including delectable chocolates, decorative gift collections, and unrivaled customer care. What type of retail service is Godiva offering?
A. full-service
B. exclusive-service
C. limited-service
D. self-service
E. specialty-service
Q:
Why are vending machine prices often higher than those in a retail store?
Q:
Saks Fifth Avenue is an upscale retailer that offers designer brand women's apparel, fragrances, jewelry, and leather accessories. The retailer relies on superior service to sell its products and to retain its customers. Saks Fifth Avenue would be classified as a(n) __________.
A. exclusive-service retailer
B. limited-service retailer
C. full-service retailer
D. premium-service retailer
E. complete-service retailer
Q:
Explain the difference between breadth of line and depth of line. Be sure to include the definition of scrambled merchandising in your explanation.
Q:
At which level of service would the customer perform the least number of functions?
A. exclusive-service
B. minimal-service
C. self-service
D. limited-service
E. full-service
Q:
Briefly describe the three levels of service offered by retail outlets.
Q:
Most specialty stores and department stores, which provide many services to their customers, are considered to be __________.
A. exclusive-service retailers
B. limited-service retailers
C. full-service retailers
D. complete-service retailers
E. upscale-service retailers
Q:
Briefly describe the two general types of franchises. Give an example of each.
Q:
Target recently introduced its Target REDcard, where cardholders receive 5% back for each purchase. Target also allows customers to return merchandise within 30 days but does not offer alteration services. Target offers what level of service to its customers?
A. full-service
B. self-service
C. automated-service
D. limited-service
E. customized service
Q:
Explain the relationship between a franchisee and a franchisor.
Q:
Loehmann's is an upscale, off-price specialty retailer that sells name-brand designer fashions. A few salespeople are around to help in select places, but customers are basically on their own to find what they need and bring it to checkout. Loehmann's provides its consumers withA. full-service.B. limited service.C. self-service.D. restricted service.E. functional service.
Q:
Briefly describe the advantages to the retailer and to the customer of the independent retailer.
Q:
Outlets where customers are responsible for most shopping activities, although salespeople are available in some departments, would be classified as __________ retail outlets.
A. limited-service
B. reduced-service
C. minimal-service
D. self-service
E. full-service
Q:
Briefly describe the three ways retail outlets can be classified.
Q:
General merchandise stores such as Walmart, Kmart, and Target are usually considered __________ retailers.
A. exclusive-service
B. minimal-service
C. self-service
D. full-service
E. limited-service
Q:
Explain the global impact of retailing.
Q:
All of the following retailers provide self-service to their customers EXCEPT:
A. Marley Coffee.
B. Shop24.
C. Target.
D. Redbox.
E. Costco.
Q:
What is the impact of retailing for consumers and the economy?
Q:
Redbox photo
Redbox (see photo above) provides video rental without a single clerk. What level of service does this retailer offer?
A. limited-service
B. non-service
C. reduced-service
D. self-service
E. restricted-service
Q:
Name each of the four utilities offered by retailing and with each, identify a retailer that provides that utility.
Q:
Many airlines now have terminals that allow you to check yourself in for your flight electronically upon your arrival at the airport. This is an example of what level of service?
A. limited-service
B. non-service
C. reduced-service
D. restricted-service
E. self-service
Q:
What is augmented reality? Give an example of a retailer that has implemented this concept.
Q:
Warehouse clubs and grocery stores that require customers to scan and bag their own items provide what level of retail service?
A. non-service
B. limited-service
C. reduced-service
D. self-service
E. automated-service
Q:
The level of service that requires that the customers themselves to perform many functions during the purchase process is __________.
A. non-service
B. limited-service
C. self-service
D. reduced-service
E. automated-service
Q:
Mall of America has four __________ stores: Nordstrom, Macy's, Bloomingdale's, and Sears.
A. strip mall
B. local competitor
C. broker
D. retailing mix
E. anchor
Q:
The three commonly used terms to describe levels of service areA. self-service, limited-service, and full-service.B. retailer-service, sales-service, and customer-service.C. self-service, automated-service, and online-service.D. limited-service, full-service, and automated-service.E. wholesaler-service, retailer-service, and customer-service.
Q:
The Mall of America is an example of which type of setting for a store location?
A. central business district
B. regional shopping center
C. community shopping center
D. strip mall
E. power center
Q:
By selling franchises, an organization __________ the cost of expansion and __________ its control compared to other growth options.
A. increases; increases
B. increases; reduces
C. reduces; increases
D. increases; retains almost all
E. reduces; reduces
Q:
A wholly-owned extension of the producer that does not carry inventory, typically performs only a sales function, and is an alternative to agents and brokers is referred to as a __________.
A. brokering agent
B. cash and carry wholesaler
C. manufacturer's sales office
D. manufacturer's branch office
E. merchant wholesaler
Q:
Ford dealerships represent which type of franchise?
A. business-format franchise
B. manufacturing franchise
C. general service franchise
D. product-distribution franchise
E. business franchise venture
Q:
A manufacturer's sales office
A. works for several producers and carries noncompetitive, complementary merchandise in an exclusive territory.
B. takes title to merchandise but sells only to buyers who call on them, pays cash for merchandise, and furnishes their own transportation for the merchandise.
C. carries a producer's inventory, performs the functions of a full-service wholesaler and is an alternative to a merchant wholesaler.
D. does not carry inventory, typically performs a sales function, and is an alternative to agents and brokers.
E. brings buyers and sellers together to make sales.
Q:
Compared to the business-format franchise, the franchisor provides a few general guidelines to the franchisee in aA. corporate chain franchise.B. manufacturing franchise.C. product-distribution franchise.D. general service franchise.E. business franchise venture.
Q:
A manufacturer's branch officeA. carries a producer's inventory and performs the functions of a full-service wholesaler.B. performs a sales function as an option to agents and brokers.C. works for several producers and carries noncompetitive, complementary merchandise in an exclusive territory.D. takes title to merchandise but sells only to buyers who call on them, pays cash for merchandise, and furnishes their own transportation for the merchandise.E. brings buyers and sellers together to make sales.
Q:
Subway is a popular __________.
A. business-format franchise
B. product-distribution franchise
C. operations franchise venture
D. manufacturing franchise
E. general service franchise
Q:
Unlike merchant wholesalers, agents, and brokers, manufacturers' branches and sales offices are __________ that perform wholesaling activities.
A. independent distribution managers
B. independent intermediary channels
C. wholly-owned extensions of the producer
D. wholly-owned extensions of the distributor
E. wholly-owned extensions of the retailer
Q:
Wholly-owned extensions of the producer that perform wholesaling activities are referred to as
A. general merchandise wholesalers.
B. cash and carry wholesalers.
C. agents and brokers.
D. manufacturer's branch or sales offices.
E. merchant wholesalers.
Q:
McDonald's, Radio Shack, and Subway are examples of __________.
A. product-distribution franchises
B. corporate franchise ventures
C. business-format franchises
D. manufacturing franchises
E. general service franchise
Q:
A business in Kansas City, Missouri, looking to rent office space should use a(n) __________ to help it locate the most suitable space at the best possible rate.
A. selling agent
B. manufacturer's representative
C. manufacturer's agent
D. administrator
E. broker
Q:
Freightfinder.com is an Internet company that acts as a go-between. If a trucker needs to find a load for a particular trade lane, he or she can visit this site, list the price and available truck space, and find a company that needs a shipment moved. Since the purpose of this website is to put buyer and sellers together so that a single sale can be made, this website can be categorized as a(n) __________.
A. selling agent
B. manufacturer's representative
C. manufacturer's agent
D. broker
E. administrator
Q:
There are two general types of franchises: business-format franchises and __________ franchises.
A. product-distribution
B. general service
C. manufacturing
D. distribution
E. venture
Q:
Originally, filters for Mr. Coffee electric-drip coffee makers were sold through appliance and mass merchandise stores. If the company decided to sell the filters in grocery stores where customers purchased their coffee, what type of intermediaries would the company most likely hire?
A. a full-line wholesaler
B. a drop shipper
C. a food broker
D. a truck jobber
E. a manufacturer's representative
Q:
There are two general types of franchises:
A. product-format franchises and distribution franchises.
B. business-format franchises and manufacturing franchises.
C. venture franchises and general service franchises.
D. manufacturing franchises and venture franchises.
E. business-format franchises and product-distribution franchises.
Q:
A unique broker that acts in many ways like a manufacturer's agent is a food broker, representing buyers and sellers in the grocery industry. Food brokers differ from conventional brokers because they act on behalf of producers on a permanent basis and
A. receive a commission for their services.
B. are paid a flat fee for each time the shelves are stocked.
C. are paid by both the buyer and seller separately depending upon the size of the order.
D. are paid a commission by the buyer and a bonus by the seller.
E. are paid a flat fee by both the buyer and seller, but receive a bonus based upon the percentage of increased sales by quarter.
Q:
As a franchisor, Radio Shack would assist a franchisee in selecting the store location, setting up the store, advertising, and __________.
A. developing the marketing program
B. training personnel
C. offering performance bonuses
D. ordering and restocking inventory
E. paying insurance and legal fees
Q:
Independent firms or individuals whose principal function is to bring buyers and sellers together to make sales are referred to as __________.
A. manufacturer's agents
B. brokers
C. selling agents
D. manufacturer's branches
E. manufacturer's sales offices
Q:
For what type of contractual system does a parent company provide assistance in selecting the location, setting up the store or facility, advertising, and training personnel?
A. administered system
B. conglomerate system
C. franchise system
D. vertical integrated system
E. retail-sponsored cooperative
Q:
Brokers are independent firms or individuals who
A. represent a single producer and are responsible for the entire marketing function of that producer.
B. work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.
C. take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for the merchandise.
D. own the merchandise they sell but do not physically handle, stock, or deliver it.
E. bring buyers and sellers together to make sales.
Q:
In a(n) __________, an individual or firm contracts with a parent company to set up a business or retail outlet.
A. administered system
B. vertically integrated chain
C. retail-sponsored cooperative
D. franchise system
E. corporate system
Q:
Carla's Cards uses a __________ to sell and market the entire line of greeting cards. It designs promotional plans, sets prices, determines distribution policies, and makes recommendations to Carla on product strategy.
A. manufacturer's agent
B. broker
C. manufacturer's branch office
D. manufacturer's sales office
E. selling agent
Q:
Franchising is a type of __________.
A. administered system
B. contractual system
C. vertically integrated chain
D. retail-sponsored cooperative
E. corporate system
Q:
Intermediaries to not take title to a product but are responsible for designing its promotional plans, setting prices, determining distribution policies, and making recommendations on product strategy are referred to as __________.
A. brokers
B. line brokers
C. distribution brokers
D. selling agents
E. manufacturer's agents
Q:
Which method of classifying retail outlets would be most appropriate for describing franchise operations?
A. form of ownership
B. level of service
C. merchandise line
D. method of operation
E. revenues generated
Q:
Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as __________.
A. brokers
B. line brokers
C. selling agents
D. distribution brokers
E. manufacturer's agents
Q:
Neighborhood grocers that ban together with several other independent grocers who all agree to buy their goods directly from food manufacturers is a(n)
A. retailer-sponsored cooperative.
B. consortium system.
C. administrative system.
D. conglomerate system.
E. collaborate chain.
Q:
Selling agents refer to agents whoA. furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.B. represent a single producer and are responsible for the entire marketing function of that producer.C. work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.D. take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for the merchandise.E. sell primarily large bulky products.
Q:
One way neighborhood grocers can take advantage of volume discounts commonly available to corporate chains is to
A. purchase a franchise membership.
B. become a subsidiary of a larger supermarket chain like Kroger.
C. join a professional merchant association and hire food brokers to negotiate lower prices for produce and dry goods.
D. create a grocery networking system to exchange coupon vouchers.
E. participate in a retailer-sponsored cooperative with other independent grocers.
Q:
A regional bakery makes organic breads and muffins. 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 the bakery wants to make sure the marketing program is consistent everywhere. It should use
A. a manufacturer's agent to sell to truck jobbers who in turn will deal with retailers.
B. its own salesforce to sell directly to retailers.
C. the services of a selling agent to sell to general merchandise wholesalers who will sell to retailers.
D. a dual distribution system composed of both direct and indirect wholesalers.
E. a rack jobber who will sell to a merchant wholesaler and who will in turn sell to retailers.
Q:
The three basic types of contractual systems are:
A. retailer-sponsored cooperatives, wholesaler-sponsored voluntary chains, and franchises.
B. dual ownership agreements, industry consortiums, and non-binding cooperatives.
C. wholesaler-sponsored voluntary chains, non-binding cooperatives, and franchises.
D. dual ownership agreements, industry consortiums, and multi-national cartels.
E. non-binding, binding, and in perpetuity.