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Question;241.;The wheel of;retailing concept;A.;is consistent;with the emergence of supermarkets in the 1930s.;B.;explains the;early success of convenience (food) stores.;C.;explains the;early success of vending machines.;D.;suggests that;new types of retailers usually emerge as high-price, high-cost operations;and then cut their prices as competitors enter the market.;E.;None of these;alternatives is true.;242.;Scrambled;merchandising" refers to;A.;retailers;shifting from one product-market to another (e.g., a food retailer shifting;to clothing).;B.;limited-line;retailers carrying wide assortments.;C.;retailers;carrying any product lines they can sell profitably.;D.;displays of;impulse products in supermarkets.;E.;incompatible;price and promotion policies.;243.;Scrambled;merchandising is carrying;A.;any product;lines that a store thinks that it can sell profitably.;B.;discounted;product lines.;C.;a specific;product line and offering yearly discounts.;D.;a number of;product lines and offering a clearance sale twice a year.;E.;a limited;product line at a high price aimed at a small number of consumers.;244.;The idea that;retailers will start to sell a new product that offers a profit margin higher;than what they achieve on their traditional product line is consistent with;the;A.;marketing;concept.;B.;operating;philosophy of most limited-line retailers.;C.;wheel of;retailing concept.;D.;scrambled;merchandising concept.;E.;none of these;is a good answer.;245.;The trend toward;scrambled merchandising can be explained by;A.;the "Wheel;of Retailing" Theory.;B.;the fact that;cities are getting larger and larger, and it is harder for a retailer to;segment the market.;C.;growing;consumer demand for more service in retail stores.;D.;the fact that;some retailers have traditionally used markups which seem "too;high" to other retailers.;E.;the growth of;in-home shopping.;246.;Which of the;following is best illustrated by a supermarket that carries Nintendo video;games?;A.;The;superstore concept;B.;Scrambled;merchandising;C.;The wheel of;retailing;D.;Target;marketing;E.;Mass;merchandising;247.;A new grocery store;features a bank, a pharmacy, a flower shop, a full-service bakery, a caf?;photo processing, and equipment rentals, in addition to its normal grocery;product lines. The store is engaging in;A.;The wheel of;retailing.;B.;Retailing;strategy.;C.;Scrambled;merchandising.;D.;The retail;life cycle.;E.;Merchandising;strategy.;248.;The development of;new types of retailers can be best explained by applying;A.;the rule of;franchising.;B.;target;marketing and product life cycle concepts.;C.;the corporate;chain hypothesis.;D.;the wheel of;retailing theory.;E.;the law of;retail gravitation.;249.;Retailer life cycles;(from introduction to maturity) seem to be;A.;getting;longer.;B.;getting;shorter.;C.;staying about;the same.;D.;changing;erratically.;E.;none of these;is a good answer.;250.;U.S. Census data;show that;A.;retailers are;more numerous than manufacturers and wholesalers combined.;B.;only about 15;percent of all retailers have annual sales over $5 million.;C.;over half of;all retailers have annual sales less than $1 million.;D.;there are;over 1 million retailers.;E.;all of these;alternatives are correct.;251.;Regarding retail;sales in the U.S., it is true that;A.;less than 6;percent of all retail sales are made by smaller stores--those with sales;less than $1 million a year.;B.;almost 75;percent of all retail sales are made by the largest stores--those with;sales over $5 million a year.;C.;corporate;chains account for about 50 percent of retail sales.;D.;franchising;accounts for one-third of retail sales.;E.;All of these;alternatives are correct.;252.;Regarding retailer;store size, it is true that;A.;almost 75;percent of all retail sales are made by smaller stores--those with annual;sales less than $1 million.;B.;almost 75;percent of all retail sales are made by the largest stores--those with;annual sales over $5 million a year.;C.;small;retailers are unimportant and can safely be ignored by most manufacturers;and wholesalers.;D.;big retailers;do a lot of business but they make up less than 5 percent of stores.;E.;None of these;alternatives is correct.;253.;U.S. Census data;show that;A.;less than 15;percent of all retailers have annual sales over $1 million.;B.;very large;retailers account for a small percentage of total retail sales.;C.;manufacturers;and wholesalers are more numerous than retailers in the United States.;D.;only about 15;percent of all retailers have annual sales over $5 million.;E.;None of these;alternatives is correct.;254.;Regarding retailer;size and sales volume in the U. S.;A.;Approximately;15% of retail stores account for 75% of all retail sales.;B.;Approximately;15% of retail stores account for 85% of all retail sales.;C.;Approximately;15% of retail stores account for 95% of all retail sales.;D.;Approximately;20% of retail stores account for 80% of all retail sales.;E.;Approximately;30% of retail stores account for 70% of all retail sales.;255.;A corporate chain is;defined as;A.;a firm that;owns and manages more than one store.;B.;retailer-sponsored;groups formed by independent retailers that run their own buying;organizations and conduct joint promotion efforts.;C.;wholesaler-sponsored;groups that work with "independent" retailers.;D.;franchisors;who develop good marketing strategies, and who carry out the strategy in;their own units.;E.;a firm that;owns a single-store but operates through multiple franchisors.;256.;A corporate;chain;A.;Is formed by;independent retailers that work together.;B.;Is sponsored;by a wholesaler.;C.;Is formed;when a firm owns and manages more than one store.;D.;Involves;franchisees that pay commissions and fees to the parent company.;E.;None of these;alternatives is correct for a corporate chain.;257.;Corporate;chains;A.;have;continued to grow--and now account for about half of all retail sales.;B.;have an;advantage relative to independent stores when it comes to promotion and use;of dealer brands.;C.;increase;their buying power by centralizing at least some of the buying for;different stores.;D.;increase;their efficiency by building their own distribution centers.;E.;all of these;alternatives are correct for corporate chains.;258.;Corporate;chains;A.;can get a;cost advantage over independent stores by spreading management costs to;many stores.;B.;account for;nearly 10 percent of retail sales.;C.;usually;cannot obtain economies of scale in distribution.;D.;are declining;in importance.;E.;None of these;alternatives is correct for corporate chains.;259.;Cooperative;chains;A.;are sponsored;by wholesalers to try to compete with corporate chains.;B.;are;experiencing declining sales.;C.;are formed by;independent retailers to run their own buying organizations and conduct;joint promotion efforts.;D.;are consumer;groups who run nonprofit buying associations.;E.;None of these;alternatives is true for cooperative chains.;260.;Chains formed by;independent retailers to run their own buying organizations and conduct joint;promotion efforts are called;A.;cooperative;chains.;B.;true values.;C.;voluntary;chains.;D.;retailer;chains.;E.;franchise;operations.;261.;Retailer-sponsored;groups formed by independent retailers that run their own buying;organizations and conduct joint promotion efforts are called;A.;Corporate;chains;B.;Voluntary;chains;C.;Cooperative;chains;D.;Franchise;operations;E.;Private;chains;262.;A;wholesaler-sponsored retail chain is called a;A.;consumer;cooperative.;B.;corporate;chain.;C.;franchise;chain.;D.;voluntary;chain.;E.;cooperative;chain.;263.;Voluntary chains;are;A.;firms that;own and manage more than one store.;B.;retailer-sponsored;groups formed by independent retailers that run their own buying;organizations and conduct joint promotion efforts.;C.;wholesaler-sponsored;groups that work with "independent" retailers.;D.;franchisors;who develop good marketing strategies, and who carry out the strategy in;their own units.;E.;firms that;own a single-store but operate through multiple franchisors.;264.;A number of;independent drugstores are working with a wholesaler to obtain economies of;scale in buying. They were organized by this wholesaler after a recent;meeting to discuss ways of competing with corporate chains. These drugstores;are now part of a;A.;corporate;chain.;B.;voluntary;chain.;C.;consumer;cooperative.;D.;cooperative;chain.;E.;franchise;chain.;265.;Franchisors;A.;account for;about a third of all retail sales.;B.;often provide;franchise holders with training.;C.;usually;receive fees and commissions from the franchise holder.;D.;are;especially popular with services retailers.;E.;all of these;alternatives are correct for franchisors.;266.;Franchise;operations;A.;generally;have very loose ties between the franchisor and franchise holders.;B.;are expected;to decline in the future because the service sector of the economy is;failing.;C.;currently;account for about a third of all retail sales.;D.;do not form;chains.;E.;None of these;alternatives is true.;267.;Franchise operations;provide a good example of;A.;vertical integration.;B.;contractual;vertical marketing systems.;C.;administered;channels in which the retailers are the channel captains.;D.;direct-to-buyer;channels.;E.;None of these;is a good answer.;268.;Which of the;following is NOT a franchise operation?;A.;Midas Muffler;B.;Panera Bread;C.;Jiffy Lube;D.;True Value;Company;E.;Taco Bell;269.;Which of the;following is NOT a franchise operation?;A.;Subway;(food).;B.;H and R Block;(tax work).;C.;Kinko's (copy;center).;D.;7-Eleven;(convenience store).;E.;All of these;are franchise operations.;270.;Which of the;following statements about retailing in different nations is NOT true?;A.;Mass-merchandisers;are especially popular in less-developed nations.;B.;Some large;retail chains are moving into international markets.;C.;Supermarkets;started in the U.S.;D.;Supercenters;started in Europe.;E.;New retailing;formats that succeed in one country are quickly adapted to other countries.;271.;Business firms that;sell to retailers and other merchants, and/or to industrial, institutional;and commercial users--but which do not sell in large amounts to final;consumers--are;A.;retailers.;B.;collaborators.;C.;producers.;D.;wholesalers.;E.;intermediaries.;272.;The U.S. Census;Bureau defines wholesaling as being concerned with the activities of those;persons or establishments that sell;A.;to retailers;and other merchants, but that do not sell in large amounts to final;consumers.;B.;to industrial;users.;C.;to;institutional users.;D.;to commercial;users.;E.;All of these;alternatives are correct.;273.;Wholesaling is;concerned with the activities of;A.;manufacturers;who set up branch warehouses at separate locations.;B.;persons or;establishments that sell to industrial, institutional, and commercial;users.;C.;persons or;establishments that sell to retailers.;D.;All of these;alternatives are correct.;274.;Wholesalers;A.;Have had to;deal with a competitive threat posed by large retailers that have taken;over wholesale functions.;B.;Are using;e-commerce to serve customers more effectively.;C.;Face;competitive pressure from shipping companies such as FedEx and UPS that;make it easier for producers to ship directly to customers.;D.;Are beginning;to increase profitability by carefully selecting their retailer-customers.;E.;All of these;alternatives are true.;275.;Regarding the future;of wholesalers, which of the following statements is TRUE?;A.;Most;high-cost wholesalers will disappear in the near future.;B.;Modern;wholesalers are seeing that vertical integration with producers provides;their only assurance of long-run survival.;C.;Some small;high-cost wholesalers will probably survive due to the specialized services;they offer some market segments.;D.;Net profit;margins in wholesaling have been increasing in recent years.;E.;All of these;statements are TRUE.;276.;Regarding;wholesaling, which of the following is(are) true?;A.;Merchant;wholesalers have higher sales than agent wholesalers, but their costs (as a;percent of sales) are over three times as high.;B.;There are;many more manufacturers' sales branches than merchant wholesalers.;C.;Manufacturers;sales branches have higher costs than agent wholesalers and account for a;smaller percentage of total sales.;D.;Good;marketing managers select the type of wholesaler with the lowest cost when;planning channels of distribution.;E.;All of these;alternatives about wholesaling are true.;277.;Regarding types of;wholesalers, which of the following has the HIGHEST costs as a percent of;sales?;A.;Manufacturers;sales branches (with stock);B.;Merchant;wholesalers;C.;Brokers;D.;Manufacturers;agents;E.;Agent;wholesalers;278.;Regarding;wholesalers, which of the following types has the LOWEST costs as a percent;of sales?;A.;Specialty;wholesalers;B.;Merchant;wholesalers;C.;Manufacturers;sales branches;D.;Agent;wholesalers;E.;Service;wholesalers;279.;Regarding;wholesalers, which of the following is the most numerous?;A.;Service;wholesalers.;B.;Agent;wholesalers.;C.;Limited-function;wholesalers.;D.;Manufacturers;sales branches.;E.;Merchant;wholesalers.;280.;Warehouses that;producers set up at separate locations away from their factories are known;as;A.;progressive;wholesalers.;B.;manufacturers;sales branches.;C.;corporate;chains.;D.;hypermarkets.;E.;retail;production centers.

 

Paper#47245 | Written in 18-Jul-2015

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