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Clarion MGT350 quiz 11




Question;uestion 1(1 point);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);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);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);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);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);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);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);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);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);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);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);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);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);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);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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