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Question;201.;offer;hard goods" at substantial price cuts to customers.;A.;Supermarkets;B.;Discount;houses;C.;Supercenters;D.;Mass-merchandisers;E.;Convenience;stores;202.;Regarding discount;houses, which of the following statements is TRUE?;A.;The early;discount houses emphasized hard goods.;B.;While some;conventional retailers cut price on competitive items, discount houses;regularly sell all of their products at smaller markups.;C.;As early;discounters were able to offer full assortments, they also sought;respectability" and moved to better locations.;D.;Discount;houses are fast-turnover, price-cutting operations.;E.;All of these;statements about discount houses are TRUE.;203.;Large self-service;retail stores that emphasize lower margins to get faster turnover--especially;on "soft goods"--are called;A.;mass-merchandisers.;B.;convenience;food stores.;C.;department;stores.;D.;specialty;shops.;E.;single-line;stores.;204.;Mass-merchandisers;A.;locate only;in large downtown areas with large sales potential.;B.;are large;self-service stores which stress low price to get faster turnover.;C.;emphasize nationally-advertised;hard goods.;D.;usually have;about as much floor space as the average supermarket.;E.;All of these;alternatives are correct for mass-merchandisers.;205.;Which of the;following are large, self-service stores with many departments that emphasize;soft goods" and staples but still follow the discount house's;emphasis on lower margins to get faster turnover?;A.;Supermarkets;B.;Discount;houses;C.;Supercenters;D.;Mass-merchandisers;E.;Direct-mail;retailers;206.;Mass-merchandisers;A.;face a bright;future and increasing profits--because of decreasing competition.;B.;usually;operate with low margins on individual items.;C.;operate on;the "buy low, sell high" philosophy.;D.;try to reduce;costs by reducing inventory turnover.;E.;None of these;alternatives is correct for mass-merchandisers.;207.;Mass-merchandisers;A.;usually;operate with low margins on individual items.;B.;are now the;primary place to shop for many frequently purchased consumer products.;C.;generally run;a self-service operation.;D.;are concerned;with maintaining high inventory turnover.;E.;All of these;alternatives are correct for mass-merchandisers.;208.;Supercenters are;also known as;A.;hypermarkets.;B.;mass-merchandisers.;C.;discount;houses.;D.;supermarkets.;E.;single-line;mass merchandisers.;209.;A;supercenter;A.;tries to;provide all of a customer's routine needs--at a low price.;B.;probably;would not affect nearby supermarkets.;C.;is just;another name for a mass-merchandiser.;D.;is a large;department store which uses supermarket methods.;E.;None of these;alternatives is true for a supercenter.;210.;Which of the;following is LEAST likely to be sold by a supercenter?;A.;Trash;compactor;B.;Photo;finishing;C.;Lawn care;materials;D.;Aspirin;E.;Milk;211.;Very large retail;stores that carry not only foods--but all goods and services which consumers;purchase ROUTINELY--are called;A.;supercenters.;B.;general;stores.;C.;supermarkets.;D.;mass-merchandisers.;E.;department;stores.;212.;Which of the;following chains is the largest food retailer in the U.S.?;A.;Kroger's;B.;Safeway;C.;Walmart;D.;Target;E.;Kmart;213.;Warehouse clubs such;as Sam's Club and Costco;A.;usually;operate in large, no-frills facilities.;B.;have been;successful targeting small-business customers.;C.;emphasize;homogeneous shopping products.;D.;usually charge;consumers an annual membership fee.;E.;All of these;alternatives are true for warehouse clubs.;214.;Regarding retailing;which of the following statements is FALSE?;A.;Supermarkets;average about $17 million in sales per year.;B.;Single-line;mass-merchandisers have not been successful--probably because their;assortments are so limited.;C.;Mass-merchandisers;put less emphasis on knowledgeable salespeople than more conventional;retailers.;D.;Discount;houses got their start selling "hard goods" at lower prices.;E.;None of these;statements regarding retailing is FALSE.;215.;Which of the;following would be considered a retailing "category killer"?;A.;Petsmart (pet;supplies);B.;Best Buy;(electronics);C.;Home Depot;(home improvements);D.;IKEA;(furniture);E.;all of these;are "category killers.;216.;Which of the;following would be considered a retailing "category killer"?;A.;Office Depot;(office supplies);B.;PayLess;(drugstores);C.;Lowe's (home improvements);D.;Barnes and;Noble (books);E.;all of these;are "category killers.;217.;Convenience (food);stores offer;A.;wide;assortments.;B.;low prices.;C.;more customer;service than supermarkets.;D.;a limited;assortment of "fill-in" items.;E.;None of these;are offered by convenience (food) stores.;218.;Convenience (food);stores;A.;have no;competitors.;B.;charge about;the same prices as nearby supermarkets.;C.;try to earn;better profits by high margins on a narrow assortment which turns over;quickly.;D.;offer greater;width of assortment but less depth than most supermarkets.;E.;none of these;alternatives is correct for convenience (food) stores.;219.;Which of the;following statements about convenience stores is False?;A.;Many;convenience stores also sell gasoline.;B.;Prices on;individual items are usually lower than in a supermarket.;C.;They have;begun to compete with fast-food restaurants.;D.;They have a;more limited assortment than do supermarkets.;E.;None of these;statements about convenience stores is False.;220.;Regarding automatic;vending, which of the following statements is TRUE?;A.;It is;important for soft drinks, candy bars, and snack foods.;B.;Costs are;relatively high because the machines are expensive to stock and repair.;C.;Although its;growth has been spectacular, automatic vending still accounts for less than;2 percent of total U.S. retail sales.;D.;A major;advantage is customer convenience.;E.;All of these;statements about automatic vending are TRUE.;221.;Vending;machine;A.;sales now;account for almost 20 percent of consumer spending.;B.;retailing;requires a lower margin to cover costs than for comparable products sold in;stores.;C.;retailing has;been declining.;D.;sales now;include higher-margin products like bathing suits.;E.;None of these;alternatives for vending machines is correct.;222.;Compared to;conventional retailers, which of the following types of retailers added more;convenient service while reducing product assortment?;A.;specialty;shops;B.;category;killers;C.;vending;machines;D.;mass-merchandisers;E.;super;warehouses;223.;Door-to-door selling;at consumers' homes;A.;meets some;consumers' needs for convenience.;B.;is gaining;popularity in international markets.;C.;started in;the pioneer days.;D.;is losing;popularity in the United States.;E.;All of these;alternatives are true for door-to-door selling.;224.;Compared to;conventional retailers, which of the following types of retailers added more;convenient service while reducing product assortment?;A.;Door-to-door;salespeople.;B.;Department;stores.;C.;Specialty;shops.;D.;Single-line stores.;E.;Supercenters.;225.;In recent years;changes in the social and cultural environment have had a significant effect;on door-to-door selling. Which of the following is MOST likely given the;changes that have occurred?;A.;Fuller Brush;has seen a dramatic increase in profits from its door-to-door selling;operations.;B.;Sarah;Coventry Jewelry has started distributing its products through jewelry;stores because of the difficulties of finding someone at home during the;day.;C.;Avon Cosmetics;has found that it needs a larger door-to-door sales force because dual;career families have more income and more demand.;D.;None of these;changes is likely.;226.;In the U.S.;door-to-door shopping accounts for _____ percent of retail sales.;A.;1;B.;3;C.;5;D.;7;E.;9;227.;Identify the;characteristics of vending machines and door-to-door retailing.;A.;Expanded;assortment, reduced margins, and more information.;B.;Added;convenience and higher than conventional margins, usually reduced;assortment.;C.;Expanded;assortment and/or reduced margins and service.;D.;Expanded;assortment and service.;E.;Expanded;assortment and service, and more information.;228.;Time-pressured;dual-career families are a prime target market for;A.;specialty;shops.;B.;department;stores.;C.;door-to-door;selling.;D.;cable TV;shopping channels.;E.;category;killers.;229.;The retailer L.L.;Bean uses a multichannel approach by adding ___________ to its catalog.;A.;a cable TV;shopping channel;B.;door-to-door;selling;C.;a phone;solicitation;D.;a website;230.;Expanded assortment;reduced margins, and more information are characteristics of;A.;club stores.;B.;specialty;shops.;C.;mail order.;D.;the Internet.;E.;department;stores.;231.;Retailing on the;Internet;A.;Can provide;consumers with a broad array of product information.;B.;Still;accounts for a very small percentage 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.;232.;In the U.S. in 2010;Internet retailing was over ________ billion--not counting travel and other;services.;A.;$25;B.;$50;C.;$80;D.;$110;E.;$140;233.;Regarding retailing;which of the following is LEAST LIKELY to occur in the future?;A.;Vertical;integration will increase in importance in the channels.;B.;Internet;shopping will become less popular.;C.;More;manufacturers will go into retailing.;D.;Retail chains;will continue to gain power.;E.;Scrambled;merchandising will continue to increase.;234.;Retailing on the;Internet;A.;makes it hard;for consumers to compare products or prices.;B.;is limited to;only a few mass-merchandisers.;C.;makes it;possible to get to an almost unlimited assortment of products.;D.;is not;expected to grow very fast.;E.;all of these;alternatives are correct.;235.;Some differences;between online and in-store customers include;A.;In-store;customers can usually immediately inspect the product.;B.;Online;customers usually have access to a wider product assortment.;C.;In-store;customers can usually immediately use the product.;D.;Online;customers usually have better access to comparative information about;products.;E.;All of these;differences are correct.;236.;Which of the;following statements about retailing on the Internet is true?;A.;More product;information is readily available.;B.;Product;assortments available are not limited by the customer's location.;C.;Price;comparisons are easy.;D.;Product;inspection is available through photos and videos.;E.;All of these;statements about retailing on the Internet are true.;237.;Internet retailers;include;A.;limited-line;retailers.;B.;service;providers.;C.;mass-merchandisers.;D.;department;stores.;E.;all of these;could be Internet retailers.;238.;The "wheel of;retailing" theory says that;A.;retailers go;through cycles from high costs and prices to lower costs and profits.;B.;general;stores will dominate U.S. retailing again in the next century.;C.;new types of;retailers enter as low-status, low-margin, low-price operators and;eventually offer more services and charge higher prices.;D.;none of these;alternatives about the "wheel of retailing" is correct.;239.;The idea that new;types of retailers begin as low-status, low-margin, low-price operators and then--if;successful--evolve into more conventional retailers offering more services is;called the;A.;wheel of;retailing theory.;B.;pyramid;concept.;C.;scrambled;merchandising concept.;D.;superstore;concept.;E.;mass-merchandising;concept.;240.;The _____ says that;new types of retailers enter the market as low-status, low-margin, low-price;operators and then, if successful, evolve into more conventional retailers;offering more services with higher operating costs and higher prices.;A.;production;concept;B.;wheel of;retailing theory;C.;mass-merchandising;concept;D.;sales concept;E.;break-even;analysis


Paper#47234 | Written in 18-Jul-2015

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