Mkt 310 Wk 2 Quiz 1 Chapter 1,2 & All Possible Questions

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MKT 310 WK 2 Quiz 1 Chapter 1,2 & All Possible Questions

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<div><div><div>MKT 310 WK 2 Quiz 1 Chapter 1,2 - All Possible Questions 1) The largest company in the world based on sales is ________.A) ExxonMobilB) Sears RoebuckC) Wal-MartD) Marks & Spencer 2) Which of the following activities does not fit within the scope of retailing?A) medical services to familiesB) direct-to-home salesC) vending purchases by factory workersD) sales to wholesalers 3) Which statement concerning retailing is correct?A) Retailing activities must involve a store.B) Retailing activities do not have to include a retailer.C) Retailing activities cannot be performed by a wholesaler.D) Retailing activities involve goods, not services. 4) According to the Department of Commerce, annual U.S. retail store sales are about ________.A) $200 billionB) $1.5 trillionC) $3.5 trillionD) $5.0 trillion 5) About how many people are employed by traditional retailers in the United States?A) 11 millionB) 16 millionC) 25 millionD) 34 million 6) Data on U.S. retail employment understates actual employment because it does not include ________.A) store or department managersB) part-time personnelC) seasonal employees and unreported workers in family businessesD) teenagers under 18 who are full-time students 7) In 2007, the four largest retailing companies (in order of size from largest to fourth largest on the basis of sales) were ________.A) Wal-Mart, Sears, Safeway, and J.C. PenneyB) Wal-Mart, Home Depot, CVS Caremark, and KrogerC) Wal-Mart, Kmart, Kroger, and Federated Department StoresD) Wal-Mart, Woolworth, Kroger, and Kmart 8) On the average, ________ percent of every sales dollar goes to grocery stores as payment for the activities they perform.A) 12B) 18C) 28D) 50 9) In 2007, the 10 largest U.S. retailers had average after-tax profits of about ________ percent of sales.A) 0.5B) 1.0C) 2.5D) 3.5 10) The channel of distribution consists of ________.A) the movement of goods and services from manufacturer to consumer-userB) all of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumerC) all independent intermediaries involved with the transfer of title of goods and servicesD) all middlemen involved with the physical movement of goods and services 11) Which of the following is generally not considered a party in a typical channel of distribution?A) retailerB) final consumerC) wholesalerD) advertising agency 12) A retailer collects an assortment of goods and services from various sources, buys in large quantities, and sells in small amounts to final consumers. This is referred to as ________.A) one-stop shoppingB) the retail conceptC) retail transactional efficiencyD) the sorting process 13) The sorting process helps final consumers through ________.A) allowing store creditB) providing one-stop shopping convenienceC) operating long hoursD) providing delivery services 14) The sorting process helps manufacturers by ________.A) paying on the basis of when goods are shipped, not soldB) offering an assortment of goods that are collected from a large number of suppliersC) enabling one-stop shoppingD) buying large orders at one time 15) A retailer sells to customers through traditional retail stores, mail-order catalogs, and a Web site. This illustrates ________.A) vertical integrationB) the sorting processC) multi-channel retailingD) the importance of impulse retailing 16) Manufacturers can increase their power in a distribution channel through ________.A) operating their own retail facilitiesB) developing dealer brandsC) expanding into foreign marketsD) use of intensive distribution 17) Retailers have increased their power in the channel of distribution due to ________.A) the growing number of regional and national chainsB) the growth of franchising as an alternative to independent ownershipC) the increased market share of national brandsD) shopping center contract provisions' limiting the range of goods to be sold 18) Channel relations tend to be the smoothest in ________ distribution.A) exclusiveB) selectiveC) intensiveD) wide 19) In exclusive distribution, suppliers enter into agreements with ________.A) multiple retailers that designate the latter as the only companies in specified geographic areas that are allowed to carry certain brands and/or product linesB) one or a few retailers that designate the latter as the only ones in specified geographic areas to carry certain brands or product linesC) any retailer with ample credit that designates the latter to be allowed to carry certain brands and/or product linesD) a retailer stating that the retailer cannot carry any competing product lines as a precondition for receiving favorable discounts 20) A retailer often must limit its selection of brands in ________ distribution.A) wideB) intensiveC) selectiveD) exclusive 21) Which form of distribution has the effect of most severely limiting a manufacturer's long-run sales potential?A) intensive distributionB) selective distributionC) dual distributionD) exclusive distribution22) A manufacturer seeking to maximize its sales should utilize ________ distribution.A) intensiveB) dualC) exclusiveD) selective 23) Competition among retailers selling the same goods and services is highest in which form of distribution?A) intensive distributionB) exclusive distributionC) selective distributionD) vertical integration 24) Suppliers sell through a moderate number of retailers in ________ distribution.A) intensiveB) dualC) exclusiveD) selective 25) Point-of-purchase displays and the placement of goods in visible, high-traffic store locations are important in retailing because of the need to ________.A) sell services to a broad target marketB) generate impulse salesC) minimize the need for warehouse spaceD) limit pilferage to an acceptable level 26) A retail strategy is ________.A) the overall plan guiding a retail firmB) the choice and satisfaction of a target marketC) an integrated effort by a retailerD) a goal-directed effort by a retailer 27) The first stage in development of a retail strategy should be to ________.A) develop an overall long-run planB) decide on the appropriate target marketC) determine the type of business and specific orientation of the firmD) implement an integrated strategy 28) Which factor has had the greatest impact on the success of Target Stores?A) its low pricing strategyB) its development and use of a retail strategic planC) its excellent physical distribution systemsD) its outstanding customer service 29) Which statement concerning Target Stores' retail strategy is not correct?A) Target focuses on consumers with middle incomes, who are well educated.B) Excellent customer service is an important part of Target's success.C) Despite its success, Target has not done a good job of positioning itself.D) Target has never lost sight of its discount niche. 30) The retailing concept is comprised of ________.A) objectives, implementable actions, feedback, and strategy adjustmentB) short- and long-term objectives, organization mission, and the development of a competitive defensible strategyC) customer orientation, coordinated effort, value-driven, and goal orientationD) niche strategy, cost leadership, and focus 31) All of the elements in a retail offering that encourage or inhibit consumers during their contact with a given retailer comprises ________.A) store atmosphereB) the retail conceptC) the total retail experienceD) retail image 32) Which of the following is not part of the total retail experience for a men's clothing retailer?A) offering store creditB) corporate form of ownershipC) the store's atmosphereD) the brands carried 33) The identifiable, but sometimes intangible, activities undertaken by a retailer in conjunction with the basic goods and services it sells is referred to as ________.A) the retailing conceptB) the total retail experienceC) relationship retailingD) customer service 34) A characteristic of relationship retailing isA) reliance on a data base of current customersB) search for new customersC) constant bargaining between customers and suppliersD) low trust among channel members 35) The underlying principle of a strategic approach to the study of retailing is that a firm needs to ________.A) be a low-cost providerB) base all of its decisions on retail researchC) be aware of opportunities and constraints in decision makingD) plan for and adapt to a complex, changing retail environment 36) Which of the following illustrates a retail transaction?A) a supermarket purchasing a computer system to improve its inventory managementB) a discount retailer signing a 10-year lease on a new store locationC) a wholesaler selling new windows to a home improvement center for resale to homeownersD) an attorney purchasing a computer in conjunction with a hobby 37) Which statement concerning retailing is not correct?A) Retailing involves both goods and services.B) Retailing must involve a retailer.C) Direct selling is part of retailing.D) Retailing is the final stage in a channel of distribution. 38) An optical chain purchasing goods from dozens of vendors (these include frame companies, lens firms, sunglass manufacturers, and eyeglass case firms) demonstrates ________.A) a channel of distributionB) economies of scaleC) vertical integrationD) the sorting process 39) Without the sorting process, final customers would ________.A) not purchase goods on impulseB) not receive creditC) have to shop at individual manufacturersD) reduce the number of transactions necessary to complete a purchase 40) The sorting process enables manufacturers to ________.A) specialize in the production and marketing of a narrow product lineB) vertically integrateC) increase their channel control over retailersD) dictate final selling prices to retailers 41) Consumers are able to shop in a "one-stop shopping environment" due to the ________.A) increased size of storesB) development of franchisingC) sorting processD) development of prototype stores 42) A retailer is able to appeal to different target markets, as well as reach consumers in multiple places, through engaging in ________.A) Web salesB) multi-channel retailingC) relationship retailingD) vertical integration 43) An example of the contrasting viewpoints of retailers and manufacturers is a ________.A) manufacturer-sponsored cooperative advertising programB) manufacturer attempting to increase national brand display spaceC) manufacturer sponsoring training programs for retail sales personnelD) manufacturer sponsoring point-of-purchase materials 44) Channel cooperation and control is greatest when ________.A) intensive distribution is utilizedB) selective distribution is utilizedC) exclusive distribution is utilizedD) manufacturers own and operate their own retailing facilities 45) In which form of distribution do retailers typically agree to limit their assortment of brands in a selected product category?A) intensiveB) dualC) exclusiveD) selective 46) A manufacturer seeking maximum retailer cooperation should utilize which form of distribution?A) exclusive distributionB) intensive distributionC) selective distributionD) dual distribution 47) Retail price competition is generally lowest in ________ distribution.A) dualB) exclusiveC) intensiveD) selective 48) The greatest advantage to a manufacturer's use of exclusive distribution is ________.A) a high level of retail price competitionB) close channel cooperationC) maximizing long-run sales potentialD) convenience of location to customers 49) The potential for channel conflict (due to the high power of a retailer relative to a manufacturer) is least in which form of distribution?A) dual distributionB) exclusive distributionC) selective distributionD) intensive distribution 50) Retail price competition is generally highest in ________ distribution.A) dualB) exclusiveC) intensiveD) selective  More Questions are Included…</div></div></div>
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