Question 1

Compared to conventional retailers, which of the following types of retailers added more convenient service while reducing product assortment?

Accepted Answer

Vending machines offer a more convenient way to purchase products by being available 24/7 in many locations, but they have a limited product assortment due to their size and the nature of the vending mechanism.

Question 2

Which of the following statements about convenience stores is False?

Accepted Answer

Prices on individual items in convenience stores are typically higher than in supermarkets due to the fact that convenience stores charge a premium for the convenience factor of being open 24/7 and offering quick, easy access to items.

Question 3

Compared to conventional retailers, which of the following types of retailers added more convenient service while reducing product assortment?

Accepted Answer

Door-to-door salespeople offer the convenience of shopping from home, while reducing product assortment due to the limited space they have to carry products.

Question 4

Convenience (food) stores:

Accepted Answer

Convenience stores differentiate themselves by carrying a smaller selection of items, but charging higher prices for the convenience of being open longer hours and being closer to where customers live. This business model allows them to earn better profits by having high margins on a narrow assortment, which turns over quickly.

Question 5

Identify the characteristics of vending machines and door-to-door retailing.

Accepted Answer

Vending machines and door-to-door retailing both offer added convenience and higher than conventional margins, but usually have a reduced assortment of products.

Question 6

Time-pressured, dual-career families are a prime target market for

Accepted Answer

Cable TV shopping channels offer convenience to time-pressured, dual-career families who may not have the time to physically go to specialty shops or department stores. Door-to-door selling may not be preferred by this market segment and category killers may not offer the same level of convenience as cable TV shopping channels.

Question 7

Which of the following would be considered a retailing "category killer"?

Accepted Answer

All of the options mentioned are examples of category killers, as each dominates their respective category or product line. Office Depot dominates the office supplies market, PayLess dominates drugstores, Lowe's dominates home improvements, and Barnes and Noble dominates the book industry.

Question 8

The retailer L.L. Bean uses a multichannel approach by adding ___________ to its catalog.

Accepted Answer

A website is a common addition to a retailer's catalog to create a multichannel approach. It allows customers to browse and purchase products online, as well as view additional information and customer reviews. L.L. Bean has a strong online presence and offers customers the ability to purchase products through their website.

Question 9

Door-to-door selling at consumers' homes:

Accepted Answer

Door-to-door selling does meet some consumers' needs for convenience, is gaining popularity in some international markets, did start in the pioneer days, and is losing popularity in the United States. Therefore, all of these alternatives are true for door-to-door selling.

Question 10

Convenience (food) stores offer:

Accepted Answer

Convenience stores offer a limited assortment of "fill-in" items, such as snacks, drinks, and commonly forgotten or last-minute purchase items. they are designed to offer quick and convenient options for customers who don't want to make a full trip to a larger supermarket.

Question 11

Expanded assortment, reduced margins, and more information are characteristics of

Accepted Answer

Expanded assortment and more information are typical of online retail, while reduced margins are often seen as a side effect of increased competition in the online marketplace.

Question 12

Regarding automatic vending, which of the following statements is TRUE?

Accepted Answer

All the statements provided about automatic vending are true. It plays a significant role in the distribution of products like soft drinks, candy bars, and snack foods. The costs associated with automatic vending can be relatively high due to the expenses of stocking and repairing the machines. Despite its impressive growth, automatic vending still represents a small fraction of total U.S. retail sales. Additionally, a major advantage of automatic vending is the convenience it offers to customers.

Question 13

Which of the following types of retailers has not yet reached market maturity?

Accepted Answer

The internet is a constantly evolving and growing market, which means internet merchants have not yet reached market maturity. Supercenters, variety stores, department stores, and catalog showrooms have already established themselves as popular retail options and have reached market maturity.

Question 14

Vending machine

Accepted Answer

The answer of Vending machine
...

Question 15

The retail life cycle of which of the following took the longest to reach market maturity?

Accepted Answer

Department stores took the longest to reach market maturity. While the first department store opened in the mid-19th century, it took several decades for the concept to become widespread and for department stores to establish themselves as a dominant retail format. In contrast, mass-merchandisers, supermarkets, and fast-food outlets all achieved market maturity relatively quickly once introduced. Variety stores, while popular in the mid-20th century, have since declined in relevance.

Question 16

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?

Accepted Answer

Changes in the social and cultural environment, such as more people working outside the home and safety concerns, have made it more difficult for door-to-door salespeople to find someone at home during the day. Therefore, it is likely that Sarah Coventry Jewelry has started distributing its products through jewelry stores to adapt to these changes. Fuller Brush and Avon may not necessarily have seen significant changes in their door-to-door selling operations as a result of these changes.

Question 17

The retail life cycle of which type of retailer began before the 1900s?

Accepted Answer

Department stores began emerging in the late 1800s and early 1900s, with the first department store being established in Paris in the 1850s. Variety stores also have a long history, but they did not become popular until the mid-1900s. Single-line mass-merchandisers, supercenters, and internet merchants are all relatively new concepts that emerged in the latter half of the 20th century and into the 21st century.

Question 18

In the U.S., door-to-door shopping accounts for _____ percent of retail sales.

Accepted Answer

Door-to-door shopping is not a significant part of retail sales in the U.S. and accounts for less than 1% of such sales.

Question 19

Which of the following reached market maturity over a 15-year period starting in 1970?

Accepted Answer

Catalog showrooms reached market maturity over a 15-year period starting in 1970, as they became popular for offering a wide range of products at discounted prices but eventually declined due to competition from other retail formats.

Question 20

Which of the following would be considered a retailing "category killer"?

Accepted Answer

All of these retailers are considered "category killers" because they dominate their particular retail category and undersell their competitors, often causing smaller, less specialized retailers to go out of business. Petsmart dominates the pet supply market, Best Buy dominates the electronics market, Home Depot dominates the home improvement market, and IKEA dominates the furniture market.

Quiz 12: Retailers, Wholesalers, and Their Strategy Planning

Compared to conventional retailers, which of the following types of retailers added more convenient service while reducing product assortment?

Which of the following statements about convenience stores is False?

Compared to conventional retailers, which of the following types of retailers added more convenient service while reducing product assortment?

Convenience (food) stores:

Identify the characteristics of vending machines and door-to-door retailing.

Time-pressured, dual-career families are a prime target market for

Which of the following would be considered a retailing "category killer"?

The retailer L.L. Bean uses a multichannel approach by adding ___________ to its catalog.

Door-to-door selling at consumers' homes:

Convenience (food) stores offer:

Expanded assortment, reduced margins, and more information are characteristics of

Regarding automatic vending, which of the following statements is TRUE?

Which of the following types of retailers has not yet reached market maturity?

Vending machine

The retail life cycle of which of the following took the longest to reach market maturity?

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?

The retail life cycle of which type of retailer began before the 1900s?

In the U.S., door-to-door shopping accounts for _____ percent of retail sales.

Which of the following reached market maturity over a 15-year period starting in 1970?

Which of the following would be considered a retailing "category killer"?