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Exam 14: Retailing and Wholesaling

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Question 151

Multiple Choice

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The difference between the retailer's cost and the initial selling price is referred to as _________.

A) markup
B) maintained markup
C) markdown
D) everyday pricing
E) original markup

F) B) and D)
G) B) and E)

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Question 152

Multiple Choice

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FIGURE 14-11 -According to Figure 14-11 above, segment "C" represents which stage in the retail life cycle?

A) introduction
B) early growth
C) accelerated development
D) maturity
E) decline

F) A) and E)
G) A) and D)

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Question 153

Multiple Choice

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The term "bricks and clicks" refers to __________ and __________ respectively.

Albertson's Supermarket accepts debit and credit cards as well as cash and checks for purchases.Its acceptance of various forms of payment provides its customers with __________ utility.

As the use of telemarketing grows, _________, ethical guidelines, and industry standards have become a topic of discussion among consumers, Congress, the Federal Trade Commission (FTC) , and businesses.

A franchise where the franchising company uses an agreement method for the distribution of its products is known as a

Direct mail and catalog retailing are examples of _________.

There are three general forms of retail ownership: contractual system, individual, and _________.

Most stores today are near several others in one of five settings: the regional center, the community shopping center, the strip, power center, or _________.

The Direct Selling Association reports that the number of companies using direct selling has __________ in the past five years.

Boston Pizza wants to determine how effective their retail format is compared to other pizza establishments in the local area.The calculation for this indicator is arrived at by determining the __________ for their store and comparing it against the same indicator for all of the other local pizza outlets.

A wholesaler that carries a narrow range of products and performs all channel functions is referred to as a _________.

When retailers set prices on new models or styles of products, the price of existing models must often be _________.

Consumers often use the prices of benchmark or __________ items, such as a can of Coke, to form an overall impression of the store's prices.

When setting prices for merchandise, retailers must decide on the markup, markdown, and __________ for markdowns.

Experts suggest that online retailers should think of their Web sites as __________ if they are to attract and retain customers.

One of the most common forms of retail ownership is the __________ business owned by a person.

Four of the 28 largest businesses in the United States are retailers which include: Walmart, Costco, Home Depot, and _________.

Not every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores, referred to as a strip mall, to serve people who are within a 5-to 10-minute drive.Unlike the larger shopping centers, the composition of these stores is usually _________.

The amount added to the cost the retailer paid for a product to reach the final selling price is referred to as _________.