14 Aug uestion 1(1 point) .gif” alt=”Question 1 unsaved”> Purchasing officers differ f

uestion 1(1 point)
.gif” alt=”Question 1 unsaved”>
Purchasing officers differ from purchasing agents in that ________.
Question 1 options:

1)

purchasing
officers handle nonperishable items only

2)

purchasing agents take title to the goods

3)

purchasing
officers are a part of the buyer’s organization

4)

purchasing
agents are not obliged to negotiate for best prices of goods

5)

purchasing
agents have the contractual authority to sell a manufacturer’s entire
output

Save
Question 2(1 point)
.gif” alt=”Question 2 unsaved”>
Bruce Wayne’s wholesale company fulfills many channel functions for its
customers. In particular, the company differentiates itself by offering
________, such as helping retailers train salesclerks, improve store layouts
and displays, and set up inventory control systems.
Question 2 options:

1)

buying
and assortment building

2)

selling and promotion services

3)

risk
bearing services

4)

market
information services

5)

management
services and advice

Save
Question 3(1 point)
.gif” alt=”Question 3 unsaved”>
Stores that provide moderate sales assistance because they carry
shopping goods about which customers need a moderate level of information are
called ________.
Question 3 options:

1)

self-service
retailers

2)

full-service
retailers

3)

off-price
retailers

4)

limited-service retailers

5)

convenience
retailers

Save
Question 4(1 point)
.gif” alt=”Question 4 unsaved”>
A ________ contains between 15 and 50 retail stores, including a
department or variety store, a supermarket, specialty stores, professional
offices, and sometimes a bank.
Question 4 options:

1)

community shopping center

2)

warehouse
club

3)

franchise
organization

4)

lifestyle
center

5)

power
center

Save
Question 5(1 point)
.gif” alt=”Question 5 unsaved”>
Corporate chains are located near a residential area and are open long
hours, seven days a week; they carry a limited line of high-turnover goods.
Question 5 options:

1) True

2) False

Question 6(1 point)
.gif” alt=”Question 6 unsaved”>
Manufacturers’ agents are ________.
Question 6 options:

1)

exclusively
hired in agricultural marketing by farmers who do not want to sell their
own output

2)

employed
by the buyer’s organization and authorized to take title to goods

3)

wholesalers
who carry a limited line of fast-moving goods and sell to small retailers
for cash without providing delivery

4)

hired by two or more manufacturers of
complementary lines who cannot afford their own field sales forces

5)

a
type of limited-service wholesalers for goods requiring minimal consumer
information

Save
Question 7(1 point)
.gif” alt=”Question 7 unsaved”>
Wholesalers absorb risk by taking title and bearing the cost of theft,
damage, spoilage, and obsolescence.
Question 7 options:

1) True

2)
False

Save
Question 8(1 point)
.gif” alt=”Question 8 unsaved”>
Retail convergence directly leads to ________.
Question 8 options:

1)

reduced
differentiation

2)

reduced competition

3)

increased
sales

4)

increased
profit margins

5)

reduced
need for product assortment

Save
Question 9(1 point)
.gif” alt=”Question 9 unsaved”>
________ sell standard merchandise at lower prices by accepting lower
margins and selling higher volume.
Question 9 options:

1)

Convenience
stores

2)

Discount stores

3)

Full-service
retailers

4)

Designer
shops

5)

Specialty
stores

Save
Question 10(1 point)
.gif” alt=”Question 10 unsaved”>
Which of the following types of limited-service wholesalers is owned by
farmers who assemble farm produce to sell in local markets?
Question 10 options:

1)

cash-and-carry
wholesalers

2)

drop
shippers

3)

rack
jobbers

4)

producers’ cooperatives

5)

truck
jobbers

Question 11(1 point)
.gif” alt=”Question 11 unsaved”>
For a retailer to be able to differentiate himself from competitors and
match target shoppers’ expectations, the product assortment retailed should be
________.
Question 11 options:

1)

identical
to the product assortment retailed by its competitors

2)

devoid
of any blockbuster goods as they divert the attention of consumers

3)

highly targeted or focused on a niche
market of potential consumers

4)

constituted
by private-label brands, rather than national or exclusive brands

5)

devoid
of any seconds, overstocks, and closeouts as this damages the perception of
the retailer

Save
Question 12(1 point)
.gif” alt=”Question 12 unsaved”>
The retailer’s product assortment should differentiate the retailer
while matching target shoppers’ expectations.
Question 12 options:

1) True

2)
False

Save
Question 13(1 point)
.gif” alt=”Question 13 unsaved”>
Shopper marketing involves focusing the entire marketing process-from
product and brand development to logistics, promotion, and merchandising-toward
turning shoppers into buyers at the point of sale.
Question 13 options:

1) True

2)
False

Save
Question 14(1 point)
.gif” alt=”Question 14 unsaved”>
McPherson’s, an ice cream joint, recently entered into an agreement by
which it allowed independent businesspeople at select stores and locations
across the country to sell its famous ice creams and milk shakes for a monetary
consideration. This agreement created a(n) ________ type of contractual retail
association.
Question 14 options:

1)

corporate
chain

2)

voluntary
chain

3)

franchise organization

4)

independent
intermediary

5)

retailer
cooperative

Save
Question 15(1 point)
.gif” alt=”Question 15 unsaved”>
Which of the following differentiates between an outlet mall and a
value-retail center?
Question 15 options:

1)

An
outlet mall stocks convenience goods, while a value-retail center sells
luxury goods.

2)

An
outlet mall sells its products on par with the retail prices, while a
value-retail center charges rates that are slightly below the retail
prices.

3)

An outlet mall consists primarily of the
manufacturers’ outlets, while a value-retail center combines manufacturers’
outlets with off-price retail stores and department store clearance
outlets.

4)

An
outlet mall is managed by buying and selling agents, while a value-retail
center has employees who belong to the manufacturer’s organization as
bonafide employees.

5)

An
outlet mall is a type of off-price retailing, while a value-retail center
is an example of designer shops that have high markups and low volume.

uestion 1(1 point) .gif” alt=”Question 1 unsaved”>Purchasing officers differ from purchasing agents in that ________.Question 1 options:1)purchasing
officers handle nonperishable items only2)purchasing agents take title to the goods3)purchasing
officers are a part of the buyer’s organization4)purchasing
agents are not obliged to negotiate for best prices of goods5)purchasing
agents have the contractual authority to sell a manufacturer’s entire
outputSaveQuestion 2(1 point) .gif” alt=”Question 2 unsaved”>Bruce Wayne’s wholesale company fulfills many channel functions for its
customers. In particular, the company differentiates itself by offering
________, such as helping retailers train salesclerks, improve store layouts
and displays, and set up inventory control systems.Question 2 options:1)buying
and assortment building2)selling and promotion services3)risk
bearing services4)market
information services5)management
services and adviceSaveQuestion 3(1 point) .gif” alt=”Question 3 unsaved”>Stores that provide moderate sales assistance because they carry
shopping goods about which customers need a moderate level of information are
called ________.Question 3 options:1)self-service
retailers2)full-service
retailers3)off-price
retailers4)limited-service retailers5)convenience
retailersSaveQuestion 4(1 point) .gif” alt=”Question 4 unsaved”>A ________ contains between 15 and 50 retail stores, including a
department or variety store, a supermarket, specialty stores, professional
offices, and sometimes a bank.Question 4 options:1)community shopping center2)warehouse
club3)franchise
organization4)lifestyle
center5)power
centerSaveQuestion 5(1 point) .gif” alt=”Question 5 unsaved”>Corporate chains are located near a residential area and are open long
hours, seven days a week; they carry a limited line of high-turnover goods.Question 5 options:1) True2) FalseQuestion 6(1 point) .gif” alt=”Question 6 unsaved”>Manufacturers’ agents are ________.Question 6 options:1)exclusively
hired in agricultural marketing by farmers who do not want to sell their
own output2)employed
by the buyer’s organization and authorized to take title to goods3)wholesalers
who carry a limited line of fast-moving goods and sell to small retailers
for cash without providing delivery4)hired by two or more manufacturers of
complementary lines who cannot afford their own field sales forces5)a
type of limited-service wholesalers for goods requiring minimal consumer
informationSaveQuestion 7(1 point) .gif” alt=”Question 7 unsaved”>Wholesalers absorb risk by taking title and bearing the cost of theft,
damage, spoilage, and obsolescence.Question 7 options:1) True2)
FalseSaveQuestion 8(1 point) .gif” alt=”Question 8 unsaved”>Retail convergence directly leads to ________.Question 8 options:1)reduced
differentiation2)reduced competition3)increased
sales4)increased
profit margins5)reduced
need for product assortmentSaveQuestion 9(1 point) .gif” alt=”Question 9 unsaved”>________ sell standard merchandise at lower prices by accepting lower
margins and selling higher volume.Question 9 options:1)Convenience
stores2)Discount stores3)Full-service
retailers4)Designer
shops5)Specialty
storesSaveQuestion 10(1 point) .gif” alt=”Question 10 unsaved”>Which of the following types of limited-service wholesalers is owned by
farmers who assemble farm produce to sell in local markets?Question 10 options:1)cash-and-carry
wholesalers2)drop
shippers3)rack
jobbers4)producers’ cooperatives5)truck
jobbersQuestion 11(1 point) .gif” alt=”Question 11 unsaved”>For a retailer to be able to differentiate himself from competitors and
match target shoppers’ expectations, the product assortment retailed should be
________.Question 11 options:1)identical
to the product assortment retailed by its competitors2)devoid
of any blockbuster goods as they divert the attention of consumers3)highly targeted or focused on a niche
market of potential consumers4)constituted
by private-label brands, rather than national or exclusive brands5)devoid
of any seconds, overstocks, and closeouts as this damages the perception of
the retailerSaveQuestion 12(1 point) .gif” alt=”Question 12 unsaved”>The retailer’s product assortment should differentiate the retailer
while matching target shoppers’ expectations.Question 12 options:1) True2)
FalseSaveQuestion 13(1 point) .gif” alt=”Question 13 unsaved”>Shopper marketing involves focusing the entire marketing process-from
product and brand development to logistics, promotion, and merchandising-toward
turning shoppers into buyers at the point of sale.Question 13 options:1) True2)
FalseSaveQuestion 14(1 point) .gif” alt=”Question 14 unsaved”>McPherson’s, an ice cream joint, recently entered into an agreement by
which it allowed independent businesspeople at select stores and locations
across the country to sell its famous ice creams and milk shakes for a monetary
consideration. This agreement created a(n) ________ type of contractual retail
association.Question 14 options:1)corporate
chain2)voluntary
chain3)franchise organization4)independent
intermediary5)retailer
cooperativeSaveQuestion 15(1 point) .gif” alt=”Question 15 unsaved”>Which of the following differentiates between an outlet mall and a
value-retail center?Question 15 options:1)An
outlet mall stocks convenience goods, while a value-retail center sells
luxury goods.2)An
outlet mall sells its products on par with the retail prices, while a
value-retail center charges rates that are slightly below the retail
prices.3)An outlet mall consists primarily of the
manufacturers’ outlets, while a value-retail center combines manufacturers’
outlets with off-price retail stores and department store clearance
outlets.4)An
outlet mall is managed by buying and selling agents, while a value-retail
center has employees who belong to the manufacturer’s organization as
bonafide employees.5)An
outlet mall is a type of off-price retailing, while a value-retail center
is an example of designer shops that have high markups and low volume.

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