Question 1

At the Christmas Tree Shop,customers can shop for Christmas gifts and decor at any time of the year.What type of utility does this store provide for its customers?

Accepted Answer

To consumers,the value of retailing is in the form of utilities provided.These include time,place,form,and possession utility.Offering seasonal products any time of the year provides time utility.

Question 2

Target and Kohl's send messages about special offers to ________ wearers who are near their stores,direct them toward sales items once inside,and allow shoppers to initiate payment simply by holding the device near a payment terminal.

Accepted Answer

Smartwatches can provide information about deals,locations of products,and faster checkout.Target and Kohl's,for example,send messages about special offers to Apple Watch wearers who are near their stores.Once shoppers are in the store their watches will direct them toward sale items and alert them when they are near a selected product.

Question 3

The ________ provided by retailers create value for consumers.

Accepted Answer

To consumers,the value of retailing is in the form of utilities provided.

Question 4

Albertsons Grocery Store 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.

Accepted Answer

To consumers,the value of retailing is in the form of utilities provided.These include time,place,form,and possession utility.Albertsons makes the purchase easier by allowing many forms of payment,providing possession utility.

Question 5

The four utilities offered to consumers through retailing are

Accepted Answer

To consumers,the value of retailing is in the form of utilities provided.These include time,place,form,and possession utility.

Question 6

Enterprise car rental agency differentiates itself from other similar agencies by providing a delivery service.This delivery service is particularly valuable to someone who has been left stranded without transportation.By making it easy to rent temporary transportation,Enterprise is emphasizing which utility?

Accepted Answer

To consumers,the value of retailing is in the form of utilities provided.These include time,place,form,and possession utility.Possession utility makes the purchase easier.In this case,Enterprise make it easier to rent its vehicles by picking up and dropping off its customers to its locations.

Question 7

The development of today's "smart store" includes each of the following except which?

Accepted Answer

Smart stores use a variety of technical solutions to enhance the in-store experience.For example,retailers use an organizational version of the Internet-of-Things (IoT)to connect everyone and everything in a store,point-of-purchase displays that use biometric scanners to detect when a customer approaches and activate a customized video,virtual reality and 3-D modeling tools to allow customers to see visual depictions of products,and wearable technology,such as smartwatches,to improve the shopping experience.

Question 8

The ability to shop over the Internet 24 hours a day,seven days a week,provides consumers with ________ utility.

Accepted Answer

To consumers,the value of retailing is in the form of utilities provided.These include time,place,form,and possession utility.The ability to shop at any time provides time utility.

Question 9

Wells Fargo is one of the best-run banks in the United States.It reaches retail customers through 8,600 stores,a worldwide network of 13,000 ATMs,and its online banking service.Which utility does Wells Fargo best provide?

Accepted Answer

To consumers,the value of retailing is in the form of utilities provided.These include time,place,form,and possession utility.Wells Fargo puts the bank's products and services close to the consumer,providing place utility.

Question 10

Retailing is an important marketing activity.Not only do producers and consumers meet through retailing actions,but retailing also creates

Accepted Answer

Not only do producers and consumers meet through retailing actions,but retailing also creates customer value and has a significant impact on the economy.

Question 11

Which of the following is one of the largest retailers in the United States?

Accepted Answer

Five of the 40 largest businesses in the United States are retailers (Walmart,Costco,Home Depot,Lowe's,and Target).

Question 12

Retailing includes all activities involved in the

Accepted Answer

Key term definition-retailing.

Question 13

Of these categories,the smallest dollar amount of retail sales in the United States is generated by

Accepted Answer

Figure 16-2 shows that sporting goods,hobby,book,and music stores have the smallest dollar amount of retail sales in the United States at $87 billion.

Question 14

Dick's Sporting Goods is a leading sports retailer that provides year-round inventory of equipment for just about any sport.Even during the off-season,equipment for seasonal sports is available at Dick's.Which utility does the it best provide?

Accepted Answer

To consumers,the value of retailing is in the form of utilities provided.These include time,place,form,and possession utility.Finding the right sporting equipment during the off-season is time utility.

Question 15

Walmart's $485 billion in sales in 2016 surpassed the gross domestic product of all but ________ countries for that same year.

Accepted Answer

Walmart's $485 billion in sales in 2016 surpassed the gross domestic product of all but 22 countries for that same year.

Question 16

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as

Accepted Answer

Key term definition-retailing.

Question 17

CarMax dealers have adopted a "no-haggle" sales policy that eliminates the need for negotiating.Instead,all customers are offered the same price.Test drives,financing,trade-ins,and leasing are all offered to encourage customers to purchase a car.Which utility does CarMax best provide?

Accepted Answer

To consumers,the value of retailing is in the form of utilities provided.These include time,place,form,and possession utility.CarMax makes the purchase easier by providing financing or leasing and taking used cars as trade-ins,creating possession utility.

Question 18

Subway restaurants that offer sandwiches made exactly to each customer's preference are providing ________ utility.

Accepted Answer

To consumers,the value of retailing is in the form of utilities provided.These include time,place,form,and possession utility.Form utility is the production or alteration of a product.

Question 19

Five of the 40 largest businesses in the United States are retailers-Walmart,Costco,Home Depot,Target,and

Accepted Answer

Five of the 40 largest businesses in the United States are retailers-Walmart,Costco,Home Depot,Lowe's,and Target.

Question 20

The greatest dollar amount of retail sales in the United States is generated by

Accepted Answer

Figure 16-2 shows that motor vehicle and parts dealers have the greatest dollar amount of retail sales in the United States at $1095 billion.

Quiz 16: Retailing and Wholesaling