Marketing Quiz 10
All of the following are advantages of convenience stores EXCEPT? 1) low prices 2) good locations 3) fast service 4) open 24 hours 7 days a week 5) impulse products
1) low prices
In order to maintain high inventory turnover, discount stores choose? 1) depth over breadth. 2) self-service over full-service. 3) breadth over depth. 4) full-service over self-service. 5) goods over services.
3) breadth over depth.
_______ stores are small, self-service retailers that aim to capture sales from people who are willing to pay higher prices in exchange for the ease of purchase these retailers offer? 1) Extreme-value retailers 2) Convenience stores 3) Specialty stores 4) Factory outlets 5) Supercenters
2) Convenience stores
The largest retailer in the world in terms of sales is? 1) Costco 2) Walmart 3) Target 4) Best Buy 5) JC Penny
2) Walmart
A retailer that offers ultra-low prices, but requires customers to pay an annual fee for the privilege of shopping in the store is referred to as? 1) an extreme-value retailer. 2) a warehouse club. 3) a category killer. 4) an off-price retailer. 5) a convenience store.
2) a warehouse club.
Retail outlets such as Best Buy or Home Depot that are able to gain high market share within their chosen category are sometimes referred to as? 1) discount outlets. 2) category killers. 3) high-margin retailers. 4) department stores. 5) convenience stores.
2) category killers.
Nordstrom and Macy's are both types of? 1) specialty discount stores. 2) department stores. 3) fast fashion stores. 4) full-line discount stores. 5) off-price retailers.
2) department stores.
Which of the following is a type of nonstore retailing? 1) services retailing 2) online retailing 3) specialty stores 4) warehouse clubs 5) factory outlets
2) online retailing
The most frequently visited type of retail store is the ______? 1) convenience store 2) supermarket 3) factory outlet 4) supercenter 5) specialty store
2) supermarket
Which of the following is true of off-price retailers? 1) They offer a consistent assortment of soft goods at low prices. 2) They sell designer-label merchandise at 20 to 60 percent higher than the manufacturer suggested retail price. 3) They sell brand-name merchandise at reduced prices. 4) They require suppliers to give them a variety of advertising allowances and markdown discounts. 5) They offer gift registries.
3) They sell brand-name merchandise at reduced prices.
In ______ franchise arrangement, the franchisee gains preferred exclusive access to the products manufactured by the franchisor? 1) exclusive 2) standard 3) product distribution 4) business format 5) supply-oriented
3) product distribution
An organization purchases products with the intention of selling them to the ultimate consumer for their personal, family, or household use. This organization is a? 1) supplier. 2) wholesaler. 3) producer. 4) retailer. 5) distributor.
4) retailer.
Which of the following is not a reason why growth in the supermarket sector has been consistently declining over the last decade? 1) the increase in out-of-home eating 2) the decrease in population 3) the increase in competition from online retailers. 4) the general rise in food costs 5) the increase in competition from warehouse clubs
4) the general rise in food costs
All of the following situations involve retailing except? 1) dining out at the new restaurant in town. 2) buying a set of golf clubs from a sporting goods store. 3) buying paper products from a wholesale club like Costco. 4) transporting newly manufactured cars to a dealership. 5) booking a European vacation from a travel agent.
4) transporting newly manufactured cars to a dealership.
A retailer role in a supply chain is to? 1) sell goods and services to wholesalers. 2) act as the liaison between manufacturers and suppliers. 3) buy merchandise exclusively from the manufacturers. 4) negotiate with manufacturers to draw contracts for wholesalers. 5) add value to products and services sold to customers.
5) add value to products and services sold to customers.