Question 1

Consumers benefit in dealing with retail corporate chains because

Accepted Answer

A large chain can bargain with a manufacturer to obtain product volume discounts on orders,which can be passed on to consumers in terms of lower prices.

Question 2

Bloomingdale's stores are part of the Macy's

Accepted Answer

A corporate chain involves multiple outlets under common ownership.Macy's,Inc. ,for example,operates 670 Macy's department stores in 45 states,and also owns 38 Bloomingdale's.

Question 3

When Home Depot switched its in-store light fixture displays to compact fluorescent light and LED bulbs,painted the roofs of its stores white,and installed solar panels,it reduced its energy use by ________ percent.

Accepted Answer

Home Depot reduced its energy use by 20 percent when it undertook its energy-saving initiatives.See Making Responsible Decisions.

Question 4

Level of service is used to describe the degree of service provided to the customer.Three levels of service are provided by self-,________,and full-service retailers.

Accepted Answer

Three levels of service are provided by self-,limited-,and full-service retailers.

Question 5

Which form of retail outlet would most likely offer customers convenience,quality personal service,and lifestyle compatibility?

Accepted Answer

The independent retailer provides convenience,quality personal service,and lifestyle compatibility.

Question 6

Independent retailers account for most of the ________ retail establishments in the United States.

Accepted Answer

Independent retailers account for most of the 3.7 million retail establishments in the United States.

Question 7

The three key methods of classifying retail operations are

Accepted Answer

Retailing outlets can be classified in several ways.First,form of ownership distinguishes retail outlets based on whether independent retailers,corporate chains,or contractual systems own the outlet.Second,level of service is used to describe the degree of service provided to the customer.Finally,the type of merchandise line describes how many different types of products a store carries and in what assortment.

Question 8

Your neighborhood dry cleaner or florist is likely to be categorized as an independent retailer.This means it is owned by a(n)

Accepted Answer

One of the most common forms of retail ownership is the independent business owned by an individual.

Question 9

One of the most common forms of retail ownership is the ________ owned by an individual.

Accepted Answer

One of the most common forms of retail ownership is the independent business owned by an individual.Independent retailers account for most of the 3.7 million retail establishments in the United States and include hardware stores,convenience stores,clothing stores,and electronics stores.

Question 10

Outside the United States,large retailers include ________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Accepted Answer

Outside the United States,large retailers include Aeon in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Question 11

Which of the following is a commonly used method of retail outlet classification?

Accepted Answer

Retailing outlets can be classified in several ways.First,form of ownership distinguishes retail outlets based on whether independent retailers,corporate chains,or contractual systems own the outlet.Second,level of service is used to describe the degree of service provided to the customer.Finally,the type of merchandise line describes how many different types of products a store carries and in what assortment.

Question 12

There are three general forms of retail ownership: contractual system,independent retailer,and

Accepted Answer

There are three general forms of retail ownership-independent retailer,corporate chain,and contractual system.

Question 13

A form of ownership that involves multiple outlets under common ownership is referred to as a(n)

Accepted Answer

Key term definition-corporate chain.

Question 14

Which of the following statements regarding corporate chains is most accurate?

Accepted Answer

Corporate chains are multiple outlets under common ownership,use centralized decision making,and are able to negotiate with suppliers for good service or volume discounts.Consumers benefit because there are multiple outlets with similar merchandise and consistent management policies.

Question 15

According to the text,________ provides third-party certification and offers guidance for retailers implementing new environmentally sound practices.

Accepted Answer

According to the text,the U.S.Green Retail Association provides third-party certification and offers guidance for retailers implementing new environmentally sound practices.See Making Responsible Decisions.

Question 16

The ________ distinguishes types of retail outlets,with independent retailers,corporate chains,or contractual systems being the three general forms.

Accepted Answer

Key term definition-form of ownership.

Question 17

Aeon,Carrefour,Tesco,and Metro Group are

Accepted Answer

Outside the United States large retailers include Aeon in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.

Question 18

One method of classification categorizes a retailer as self-,limited-,or full-

Accepted Answer

Key term definition-level of service.

Question 19

Most of the 3.7 million retail establishments in the United States,including hardware stores,convenience stores,clothing stores,and electronics stores,are considered

Accepted Answer

Most of the 3.7 million retail establishments in the United States are owned by independent retailers.

Question 20

A method of classification that describes how many different types of products a store carries and in what assortment is referred to as a

Accepted Answer

Key term definition-merchandise line.

Quiz 16: Retailing and Wholesaling