Question 1

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

Accepted Answer

The answer of Independent retailers account for most of the...

Question 2

Consumers benefit in dealing with retail corporate chains because

Accepted Answer

Corporate chains can use their volume buying power to negotiate lower prices from manufacturers, and these discounts can be passed on to consumers in the form of lower prices.

Question 3

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

Accepted Answer

Form of ownership is a commonly used method of retail outlet classification. This involves categorizing retailers based on whether they are independently owned or part of a larger chain or franchise. This classification is useful for understanding retail market structure and competition.

Question 4

A form of ownership that involves multiple outlets under common ownership is referred to as

Accepted Answer

A corporate chain is a form of ownership that involves multiple outlets under common ownership, where the outlets all share the same brand and centralized management. This allows for economies of scale and standardization across locations. The other options do not necessarily involve multiple outlets under common ownership.

Question 5

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 made several changes to its stores, including switching its light fixtures to more energy-efficient bulbs, painting the roofs of its stores white to reflect sunlight and reduce cooling costs, and installing solar panels to generate renewable energy.

Question 6

Bloomingdale's stores are part of the Macy's

Accepted Answer

The answer of Bloomingdale's stores are part of the Macy's
...

Question 7

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

The answer of Level of service is used to describe...

Question 8

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

Accepted Answer

The question is asking for the most common form of retail ownership and the answer is "independent retailer" which is owned by a person. The other options given are different forms of retail ownership but not as common as independent retailers owned by a person.

Question 9

The three key methods of classifying retail operations are

Accepted Answer

The answer of The three key methods of classifying retail...

Question 10

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

Accepted Answer

The answer of One method of classification categorizes a retailer...

Question 11

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

Accepted Answer

Independent retailers are typically owned by individuals or small groups of individuals, rather than larger corporations or conglomerates. Therefore, the best choice is A, as independent retailers like dry cleaners and florists are likely to be owned by an individual.

Question 12

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

Accepted Answer

Independent retailers are often smaller, locally owned businesses that can offer a more personalized and tailored shopping experience for customers. They may also specialize in certain products or cater to specific lifestyles or interests, making them a good choice for those seeking convenience, quality service, and compatibility with their personal preferences. Corporate chains and administered systems may prioritize efficiency and standardization over personalized service, while contractual systems and sole incorporations may have more limited resources or a narrower product focus.

Question 13

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

The answer of A method of classification that describes how...

Question 14

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

Accepted Answer

Corporate chains are multiple outlets under common ownership, which distinguishes them from independently owned businesses. A, B, and C are incorrect statements regarding corporate chains. The Clayton and Sherman Acts restrict anticompetitive behavior and promote fair competition, but do not prevent corporate chains from obtaining volume discounts. Forward integration involves a company owning its suppliers, while backward integration involves a company owning its distributors. Decentralized buying committees do not necessarily lead to fewer choices for consumers, as these committees are tasked with selecting merchandise that will appeal to a wide range of consumers. Finally, while corporate chains may not be as personalized as independent businesses, they offer benefits such as consistency in product and service quality and wider access to goods and services.

Question 15

Aeon,Carrefour,Tesco,and Metro Group are

Accepted Answer

The answer of Aeon,Carrefour,Tesco,and Metro Group are
...

Question 16

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

Accepted Answer

The form of ownership distinguishes types of retail outlets, with independent retailers, corporate chains, or contractual systems being the three general forms. The wheel of retailing describes a process of retail evolution, the service level refers to the degree of service offered to customers, the merchandise line refers to the type of products offered, and the product assortment refers to the variety and quantity of products offered by a retailer.

Question 17

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

Accepted Answer

The answer of There are three general forms of retail...

Question 18

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

Accepted Answer

The U.S. Green Retail Association provides third-party certification and offers guidance for retailers implementing new environmentally sound practices.

Question 19

Consumers benefit in dealing with retail corporate chains because

Accepted Answer

Consumers benefit from dealing with retail corporate chains because they have multiple outlets with similar merchandise and consistent management policies. This creates a sense of reliability and ease for consumers as they know they can expect the same level of service and products across different locations. Additionally, corporate chains have the resources to offer competitive prices and promotions.

Question 20

Most of the 1.1 million retail establishments in the United States,including hardware stores,convenience stores,clothing stores,and computer and software stores,are considered

Accepted Answer

Independent retailers are those who operate their business independently, without any affiliations with other companies or chains. The given types of stores like hardware, convenience, clothing, and computer & software stores are typically owned and operated by individuals or small groups of people, making them independent retailers. Corporate chains and conglomerates are characterized by multiple locations and centralized ownership, whereas contractual systems typically involve franchising agreements. Multinationals, on the other hand, have a global presence and operate in various countries.

Quiz 13: Retailing and Wholesaling

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

Consumers benefit in dealing with retail corporate chains because

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

A form of ownership that involves multiple outlets under common ownership is referred to as

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.

Bloomingdale's stores are part of the Macy's

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.

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

The three key methods of classifying retail operations are

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

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

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

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

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

Aeon,Carrefour,Tesco,and Metro Group are

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

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

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

Consumers benefit in dealing with retail corporate chains because

Most of the 1.1 million retail establishments in the United States,including hardware stores,convenience stores,clothing stores,and computer and software stores,are considered