Question 1

Cash-and-carry wholesalers are limited-function wholesalers who do not grant credit,but otherwise operate like service wholesalers.

Accepted Answer

A) True 
 B)False

Question 2

In-store shopping varies a lot from country to country,but online shopping does not.

Accepted Answer

A) True 
 B)False

Question 3

_______ is a multichannel selling approach where a single retailer provides a seamless customer experience from desktop computer,mobile device,telephone,or brick-and-mortar store.

Accepted Answer

A)   Omnichannel
B)   Showrooming
C)   Scrambled merchandising
D)   Multiplatform
E)   ChannelingF) C) and D)
G) A) and D)

Question 4

The "wheel of retailing" theory fails to explain some major retailing developments,such as vending machines and convenience food stores,which did not enter the market with a low-price emphasis.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following wholesalers own (take title to) the products they sell?

Accepted Answer

A)   Selling agents
B)   Combination export managers
C)   Brokers
D)   Manufacturers' agents
E)   None of these wholesalers owns the products they sell.F) D) and E)
G) C) and E)

Question 6

Which of the following is a characteristic of agent wholesalers?

Accepted Answer

A)   They are more common in domestic trade than in international trade.
B)   They operate at relatively high costs.
C)   They own the products they sell.
D)   They normally specialize by customer type and by product or product line.
E)   None of these is a characteristic of agent wholesalers.F) C) and D)
G) A) and B)

Question 7

A hardware wholesaler that buys nails from a manufacturer and then sells them to retail hardware stores is a merchant wholesaler.

Accepted Answer

A) True 
 B)False

Question 8

Limited-function wholesalers provide all of the basic wholesaling functions,except that they do not take title to the products they sell.

Accepted Answer

A) True 
 B)False

Question 9

Meg O'Brien is just starting as a rack jobber.She will

Accepted Answer

A)   do what a lot of grocery store managers don't want to do.
B)   need a lot of money to get started, since all her customers will expect 30 days to pay their bills.
C)   not have to know very much about the preferences of the consumers who buy the products she handles.
D)   never actually handle or deliver the products in her line.
E)   probably get tired of visiting farmers' markets.F) B) and C)
G) B) and D)

Question 10

"Supercenters" are very large stores that specialize in selling a big variety of infrequently purchased products that would otherwise be hard for consumers to find.

Accepted Answer

A) True 
 B)False

Question 11

When consumers go to a brick-and-mortar store to inspect a product and then purchase from an online retailer,this practice is called ______.

Accepted Answer

A)   shop-hopping
B)   integrating
C)   showrooming
D)   arbitrage
E)   web-hoppingF) D) and E)
G) B) and E)

Question 12

Franchisors

Accepted Answer

A)   account for about a third of all retail sales.
B)   often provide franchise holders with training.
C)   usually receive fees and commissions from the franchise holder.
D)   are especially popular with services retailers.
E)   all of these alternatives are correct for franchisors.F) A) and B)
G) C) and D)

Question 13

Regarding wholesalers,which of the following descriptions is TRUE?

Accepted Answer

A)   Manufacturers' agent: does not own the products, usually carries stocks, represents several competing manufacturers within a geographic area.
B)   Merchant wholesaler: does not take title to products, takes possession, provides full service, and usually handles a broad variety of products.
C)   Broker: does not own the products, does not take possession, major function is selling, and does not anticipate customer needs.
D)   Selling: does not own the products, does the whole marketing job nationally, and may handle competing lines.
E)   All of these descriptions of different wholesalers are TRUE.F) A) and E)
G) A) and D)

Question 14

What kinds of products does a manufacturers' agent sell?

Accepted Answer

A)   Similar products for several noncompeting producers for a commission on what is actually sold
B)   Different products for several noncompeting producers for a commission on what is actually sold
C)   Similar products for several competing producers for a commission on what is actually sold
D)   Different products for several competing producers for a commission on what is actually sold
E)   Different products for several competing producers for a fixed salary irrespective of salesF) A) and B)
G) B) and C)

Question 15

The basic idea for supermarkets developed in the U.S.in the 1960s,when consumers started to move from the cities to the suburbs.

Accepted Answer

A) True 
 B)False

Question 16

Door-to-door selling now accounts for less than 1 percent of retail sales in the United States.

Accepted Answer

A) True 
 B)False

Question 17

When a supermarket manager decides to offer online ordering at the store's website,what is the decision about?

Accepted Answer

A)   Product
B)   Place
C)   Promotion
D)   Price
E)   ProductionF) B) and C)
G) C) and E)

Question 18

Retailing on the Internet

Accepted Answer

A)   can provide consumers with a broad array of product information.
B)   still accounts for less than twelve percent of total retail sales.
C)   is growing rapidly.
D)   still needs low-cost ways to handle post-purchase deliveries.
E)   All of these alternatives are true.F) B) and C)
G) B) and E)

Question 19

"Retailing" covers all the activities involved in the sale of products to

Accepted Answer

A)   final consumers.
B)   organizational and business customers.
C)   producer/suppliers.
D)   intermediaries.
E)   government agencies.F) B) and E)
G) A) and C)

Question 20

The two basic types of merchant wholesalers are ______.

Accepted Answer

A)   single-line and limited function
B)   agents and merchants
C)   service and general line
D)   service and limited function
E)   single-line and general lineF) B) and E)
G) B) and C)

Exam 14: Retailers, Wholesalers, and Their Strategy Planning

The two basic types of merchant wholesalers are ______.

Correct AnswerverifiedShow Answer

Door-to-door selling now accounts for less than 1 percent of retail sales in the United States.

Correct AnswerverifiedShow Answer

"Retailing" covers all the activities involved in the sale of products to

Correct AnswerverifiedShow Answer

Limited-function wholesalers provide all of the basic wholesaling functions,except that they do not take title to the products they sell.

Correct AnswerverifiedShow Answer

_______ is a multichannel selling approach where a single retailer provides a seamless customer experience from desktop computer,mobile device,telephone,or brick-and-mortar store.

Correct AnswerverifiedShow Answer

In-store shopping varies a lot from country to country,but online shopping does not.

Correct AnswerverifiedShow Answer

"Supercenters" are very large stores that specialize in selling a big variety of infrequently purchased products that would otherwise be hard for consumers to find.

Correct AnswerverifiedShow Answer

The basic idea for supermarkets developed in the U.S.in the 1960s,when consumers started to move from the cities to the suburbs.

Correct AnswerverifiedShow Answer

What kinds of products does a manufacturers' agent sell?

Correct AnswerverifiedShow Answer

Retailing on the Internet

Correct AnswerverifiedShow Answer

Regarding wholesalers,which of the following descriptions is TRUE?

Correct AnswerverifiedShow Answer

Meg O'Brien is just starting as a rack jobber.She will

Correct AnswerverifiedShow Answer

When a supermarket manager decides to offer online ordering at the store's website,what is the decision about?

Correct AnswerverifiedShow Answer

Franchisors

Correct AnswerverifiedShow Answer

When consumers go to a brick-and-mortar store to inspect a product and then purchase from an online retailer,this practice is called ______.

Correct AnswerverifiedShow Answer

A hardware wholesaler that buys nails from a manufacturer and then sells them to retail hardware stores is a merchant wholesaler.

Correct AnswerverifiedShow Answer

Cash-and-carry wholesalers are limited-function wholesalers who do not grant credit,but otherwise operate like service wholesalers.

Correct AnswerverifiedShow Answer

The "wheel of retailing" theory fails to explain some major retailing developments,such as vending machines and convenience food stores,which did not enter the market with a low-price emphasis.

Correct AnswerverifiedShow Answer

Which of the following wholesalers own (take title to) the products they sell?

Correct AnswerverifiedShow Answer

Which of the following is a characteristic of agent wholesalers?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified