general business data bank

Question # 00003616 Posted By: spqr Updated on: 11/16/2013 01:29 PM Due on: 11/28/2013
Subject Marketing Topic Marketing Tutorials:
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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

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