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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.
Q:
Another name for a manufacturer's agent is a __________.
A. manufacturer's desk jobber
B. manufacturer's transport vendor
C. manufacturer's representative
D. manufacturer's broker
E. manufacturer's rack jobber
Q:
Independently owned stores that band together to act like a chain are referred to as __________.
A. corporate chains
B. cooperative marketing systems
C. contractual systems
D. regional shopping centers
E. self-service systems
Q:
Intermediaries that work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory are referred to as __________.
A. selling agents
B. line brokers
C. distribution brokers
D. manufacturer's agents
E. brokers
Q:
Walmart has developed a sophisticated inventory management and cost control system that allows rapid price changes for each product in the store. The firm also uses technologies such as __________ to improve the quality of information available about products.
A. radio frequency identification
B. encapsulation techniques
C. bar code scanners
D. nanotechnology
E. cookies
Q:
Manufacturer's agents refer to agents who
A. represent a single producer and carry all products in the producer's lines.
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 merchandise.
D. own the merchandise they sell but do not physically handle, stock, or deliver it.
E. furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.
Q:
The acronym RFID stands for
A. retail franchise identification designation.
B. required financial identification.
C. radar frequency identification.
D. radio frequency identification.
E. retail federation of independent department stores.
Q:
Which of the following statements best describes the key difference between merchant wholesalers and agents and brokers?
A. Merchant wholesalers don't perform all channel functions whereas agents and brokers do.
B. Agents and brokers only deal with consumer channels.
C. Agents and brokers make their profits based on the sales of merchandise they own, while merchant wholesalers make profits based on fees paid for their services.
D. Merchant wholesalers take title to merchandise whereas agents and brokers do not.
E. Agents and brokers take title to merchandise whereas merchant wholesalers do not.
Q:
Consumers benefit in dealing with retail corporate chains because
A. corporate chains have more experience than other forms of retailers.
B. they can own stock in the same company where they shop since corporate chain stock must be publicly-traded.
C. they can establish a credit history more easily than with other forms of retailers.
D. there are multiple outlets with similar merchandise and consistent management policies.
E. they have less stress in making decisions since merchandise is arranged and displayed by professional designers.
Q:
Which of the following firms has made the wisest wholesaler choice for its product?
A. Hannah's Hardware uses a rack jobber for its hammers.
B. Fiona's Floral uses a truck jobber for its cut roses.
C. Sam's Coal Country uses a truck jobber for its subway cars.
D. Shayna's Superior Supplies uses a desk jobber for its staplers.
E. Josh's Jackhammers uses a rack jobber for its hard hats.
Q:
Consumers benefit in dealing with retail corporate chains because
A. corporate chains have more experience than other forms of retailers.
B. they can own stock in the same company where they shop since corporate chain stock must be publicly-traded.
C. the latter can bargain with a manufacturer to obtain product volume discounts on orders, which can be passed on to consumers in terms of lower prices.
D. there are multiple outlets, each with its own varied merchandise and different management policies.
E. merchandise is arranged and displayed by professional designers making their shopping experience less stressful.
Q:
A __________ would most likely most likely use truck jobbers to distribute its products.
A. clothing manufacturer
B. manufacturer of electric generators
C. leather goods importer
D. pharmaceutical company
E. meat processing plant
Q:
Which of the following statements regarding corporate chains is most accurate?
A. Corporate chains cannot bargain with a manufacturer to obtain product volume discounts due to federal anticompetitive legislation.
B. Corporate chains generally own most if not all of their suppliers, a practice known as forward integration, so they can save distribution costs.
C. Consumers have fewer choices in merchandise since all buying decisions are made by a decentralized buying committee.
D. Corporate chains offer the least benefit to consumers since they are the farthest removed from the ultimate consumer.
E. Corporate chains are multiple outlets under common ownership.
Q:
Bakery items, dairy products, and meat that are sold for cash in their original packages are traditionally sold by which type of wholesaler?
A. rack jobbers
B. drop shippers
C. cash and carry wholesalers
D. truck jobbers
E. general merchandise wholesalers
Q:
Bloomingdale's stores are part of the Macy's __________.
A. corporate chain
B. consumer cooperative
C. contractual system
D. retail conglomerate
E. administered system
Q:
Wholesalers who handle a limited assortment of fast-moving or perishable items that are sold for cash directly from trucks in their original packages are referred to as __________.
A. rack jobbers
B. drop shippers
C. truck jobbers
D. cash and carry wholesalers
E. manufacturer's representatives
Q:
In retailing, a form of ownership that involves multiple outlets under common ownership is referred to as a(n)
A. corporate chain.
B. consumer cooperative.
C. contractual system.
D. independent retailer.
E. administered system.
Q:
Wholesalers who have a small warehouse from which they stock their trucks for distribution to retailers are referred to as __________.
A. cash and carry wholesalers
B. truck jobbers
C. rack jobbers
D. drop shippers
E. manufacturer's representatives
Q:
Your neighborhood dry cleaner or florist is likely to be categorized as an independent retailer. This means it is owned by a(n) __________.
A. individual
B. conglomerate
C. consortium
D. chain
E. cooperative
Q:
The term truck jobbers refers to wholesalers who
A. furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.
B. store all the merchandise they sell in their trucks.
C. own the merchandise they sell but do not physically handle, stock, or deliver it.
D. have a small warehouse from which they stock their trucks for distribution to retailers.
E. work for several producers, carry noncompetitive, complementary merchandise in an exclusive territory, and use over-the-road transportation for all product deliveries.
Q:
Which form of retail outlet would most likely offer customers convenience, quality personal service, and lifestyle compatibility?
A. corporate chain
B. independent retailer
C. administered system
D. contractual system
E. sole incorporation
Q:
Which of the following firms has made the wisest wholesaler choice for its product?
A. Sam's Coal Country uses a drop shipper for its coal.
B. Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs.
C. Hannah's Hardware uses a rack jobber for its hinges.
D. Shayna's Superior Supplies uses a desk jobber for its staplers.
E. Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights.
Q:
Most of the 1.1 million retail establishments in the United States, including hardware stores, convenience stores, clothing stores, and computer and software stores, are considered __________.
A. corporate chains
B. contractual systems
C. independent retailers
D. conglomerate
E. multinationals
Q:
Coal, lumber, and chemicals, which are sold in extremely large quantities, are traditionally sold by which type of wholesaler?
A. cash and carry wholesalers
B. rack jobbers
C. truck jobbers
D. general merchandise wholesalers
E. drop shippers
Q:
Independent retailers account for most of the __________ retail establishments in the United States.
A. 50,000
B. 90,000
C. 500,000
D. 900,000
E. 1.1 million
Q:
Wholesalers who simply solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer are referred to as __________.
A. cash and carry wholesalers
B. rack jobbers
C. drop shippers
D. truck jobbers
E. manufacturer's representatives
Q:
One of the most common forms of retail ownership is the __________ owned by a person.
A. corporate chain
B. consumer cooperative
C. contractual system
D. independent retailer
E. administered system
Q:
Wholesalers who own the merchandise they sell but do not physically handle, stock, or deliver it are referred to as __________.
A. cash and carry wholesalers
B. rack jobbers
C. truck jobbers
D. manufacturer's representatives
E. drop shippers
Q:
There are three general forms of retail ownership: independent retailer, corporate chain, and __________.
A. dual ownership
B. industry consortium
C. retailing cooperative
D. contractual system
E. multi-national cartel
Q:
Another name for a drop shipper is a __________.
A. drop runner
B. desk jobber
C. transport vendor
D. container transport vendor
E. stock jobber
Q:
There are three general forms of retail ownership: contractual system, independent retailer, and __________.
A. dual ownership
B. industry consortium
C. retailing cooperative
D. multi-national cartel
E. corporate chain
Q:
Drop shippers
A. own the merchandise they sell but do not physically handle, stock, or deliver it.
B. perform all channel functions, and sell on consignment to retailers.
C. take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for merchandise.
D. have a small warehouse from which they stock their trucks for distribution to retailers.
E. work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.
Q:
There are three general forms of retail ownership: contractual system, corporate chain, and __________.
A. dual ownership
B. industry consortium
C. retailing cooperative
D. independent retailer
E. multi-national cartel
Q:
Cash and carry wholesalers
A. handle bulky items like lumber, bricks, and telephone poles.
B. handle perishable items like flowers, baked goods, and deli meats.
C. handle office supplies, electrical supplies, hardware products, and groceries.
D. are a kind of full-service wholesaler.
E. lease vending machines to merchants and refill them as needed on a cash only basis.
Q:
Walmart reduced waste in packaging by 3,500 tons by __________.
A. purchasing more merchandise from U.S. manufacturers
B. requiring its toy suppliers to trim one square inch of packaging from their lines
C. shipping with airline carriers which provide superior handline
D. identifying products that can be shipped without packaging materials
E. using natural gas-powered delivery vehicles that reduce emissions
Q:
Wholesalers who take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for merchandise are referred to as __________.
A. rack jobbers
B. truck jobbers
C. transport vendors
D. cash and carry wholesalers
E. drop shippers
Q:
When Home Depot switched its in-store light fixture displays to compact fluorescent light and LED light bulbs, painted the roofs of its stores white, and installed solar panels, it reduced its energy use by __________ percent.
A. 5
B. 10
C. 15
D. 20
E. 25
Q:
Cash and carry wholesalers refer to wholesalers who
A. furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.
B. take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for merchandise.
C. own the merchandise they sell but do not physically handle, stock, or deliver it.
D. have a small warehouse from which they stock their trucks for distribution to retailers.
E. work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.
Q:
__________ provides third-party certification and offers guidance for retailers implementing new environmentally sound practices.
A. The Environmental Protection Agency
B. The U.S. Chamber of Commerce - Environmental Division
C. Green Cross International
D. U.S. Green Retail Association
E. Leadership in Energy and Environmental Design (LEED)
Q:
Which of the following firms has made the wisest wholesaler choice for its product?
A. Sam's Coal Country uses a cash and carry wholesaler for its coal.
B. Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs.
C. Raisha's Retros uses a rack jobber for its replica racecar radios in travel plazas on interstate highways.
D. Shayna's Superior Supplies uses a desk jobber for its staplers.
E. Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights.
Q:
Retailers may decide to pursue a third-party environmental certification because consumers want to purchase products from those retailers that have similar __________.
A. offerings
B. ideologies
C. risk tolerance
D. locations
E. pricing strategies
Q:
Which type of wholesaler traditionally sells hosiery, toys, and health and beauty items?
A. cash and carry wholesalers
B. truck jobbers
C. general merchandise wholesalers
D. rack jobbers
E. drop shippers
Q:
A method of classification that describes how many different types of products a retailer carries and in what assortment is referred to as a __________.
A. product mix
B. service level
C. product variety
D. store composition
E. merchandise line
Q:
Selling on consignment to retailers, which means they retain the title to the products displayed and bill retailers only for the merchandise sold, is characteristic of which limited-service wholesaler?
A. truck jobbers
B. transport vendors
C. rack jobbers
D. cash and carry wholesalers
E. drop shippers