Question 1

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.
A)time
B)place
C)possession
D)form
E)public

Accepted Answer

Possession utility refers to the value created by making a product or service available to the customer. By accepting various forms of payment, Albertson's Supermarket increases the convenience and accessibility of its products, thereby creating possession utility for its customers.

Question 2

CarMax dealers have adopted a "no-hassle,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?
A)product
B)form
C)convenience
D)service
E)possession

Accepted Answer

E

Question 3

Why do retailers like location-based apps such as Foursquare?
A)they use audio and video to communicate a message
B)all consumers demand technology-based offerings today
C)they are free
D)they attract consumers who are not price sensitive
E)they provide an opportunity to personalize offerings to potential customers

Accepted Answer

Location-based apps such as Foursquare provide an opportunity to personalize offerings to potential customers based on their location and previous check-ins. This can be a valuable tool for retailers to target their marketing efforts and increase sales.

Question 4

The Sports Authority is a sporting goods superstore that provides year-round inventory of equipment for just about any sport you can name.Even during the "off season," equipment for seasonal sports is available at the Sports Authority.Which utility does the Sports Authority best provide?
A)time
B)convenience
C)possession
D)form
E)performance

Accepted Answer

The answer of The Sports Authority is a sporting goods...

Question 5

The __________ provided by retailers create value for consumers.
A)utilities
B)wholesaling functions
C)outsourcing
D)logistics
E)synergies

Accepted Answer

Utilities refer to the services provided by retailers that create value for consumers, such as providing a convenient location, customer service, product assortment, and ease of purchase through various channels. Wholesaling functions, outsourcing, and logistics are important processes for retailers, but they do not necessarily create value directly for consumers. Synergies refer to the combined benefits of two or more entities working together, which may be relevant in some cases but not as a general term for retailers creating value for consumers.

Question 6

A restaurant that offers food made exactly to each customer's preference is providing its customers with __________ utility.
A)time
B)place
C)possession
D)form
E)process

Accepted Answer

The restaurant is providing form utility by creating dishes that are customized to each customer's preference. Form utility refers to the process of creating a finished product that is more useful to consumers than the raw materials used to make it. In this case, the customized dishes have more value to the customers than if they were just given raw ingredients to prepare themselves.

Question 7

Foursquare,Gowalla,Booyah,Brightkite,and Loopt are
A)multiplayer video games.
B)advertising agencies.
C)location-based social networking apps for smartphones.
D)names of new phones targeted at college students.
E)restaurants with new food concepts.

Accepted Answer

Foursquare, Gowalla, Booyah, Brightkite, and Loopt are all examples of location-based social networking apps for smartphones. These apps allow users to check-in to locations, share their location with friends, and discover new places based on recommendations from others. They have become popular among people who like to explore their surroundings and connect with others who have similar interests.

Question 8

Retailing refers to all activities involved in the
A)selling,renting,and providing of products and services to ultimate consumers for personal,family,or household use.
B)selling of tangible products to ultimate consumers for personal,family,or household use.
C)selling of tangible products to ultimate consumers for personal,household,or industrial use.
D)selling,renting,leasing,or reselling of products and services to ultimate consumers or small industrial users.
E)selling,renting,and providing of products and services without retaining the title to these offerings.

Accepted Answer

Retailing includes all activities related to selling, renting, and providing products and services to ultimate consumers for personal, family, or household use. Option A perfectly fits this definition, while the other options have different variations of the definition or include selling to industrial users.

Question 9

The four utilities offered to consumers through retailing are
A)convenience,performance,possession,and form.
B)time,place,possession,and form.
C)product,price,place,and promotion.
D)people,productivity,process,and physical environment.
E)convenience,consistency,competition,and choice.

Accepted Answer

The four utilities offered to consumers through retailing are time (convenience), place, possession, and form. This means that retailers aim to provide products at the right place and time, in the right form, and through the ownership (possession) of the product. Option A is incorrect as performance is not a utility provided through retailing. Option C includes the marketing mix elements, but not the four utilities specific to retailing. Option D includes elements of service quality but not specific utilities provided through retailing. Option E includes some aspects of retailing but not the four utilities offered.

Question 10

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?
A)form
B)product
C)service
D)possession
E)convenience

Accepted Answer

The answer of Enterprise car rental agency differentiates itself from...

Question 11

Location-based social networking apps such as Foursquare reward customers for
A)using minutes on their smartphones.
B)shopping online.
C)responding to TV ads.
D)reporting their locations and visiting stores.
E)answering customer service surveys on their smartphones.

Accepted Answer

Location-based social networking apps such as Foursquare reward customers for reporting their locations and visiting stores. These apps track user locations and offer rewards such as discounts, freebies, or exclusive deals when customers check in at certain locations or engage in specific activities. This incentivizes customers to visit stores and increases foot traffic, leading to potential sales and revenue for businesses.

Question 12

Outside the United States,large retailers include __________ in Japan,Carrefour in France,Metro Group in Germany,and Tesco in Britain.
A)Aeon
B)Toshei
C)Seebi
D)Goshen
E)Toshi

Accepted Answer

Aeon is a large retailer in Japan, while the other choices are not major retailers in the countries mentioned. Carrefour is a large retailer in France and Tesco is a large retailer in Britain, but Metro Group is not a major retailer in Germany and the other choices are not major retailers in their respective countries.

Question 13

Walmart's $447 billion in sales in 2011 surpassed the gross domestic product of all but __________ countries for that same year.
A)5
B)12
C)18
D)26
E)55

Accepted Answer

The answer of Walmart's $447 billion in sales in 2011...

Question 14

Wells Fargo is one of the best-run banks in the United States.It reaches retail customers through 9,000 stores,a worldwide network of 12,000 ATMs,and its online banking service.Which utility does Wells Fargo best provide?
A)time
B)possession
C)place
D)form
E)performance

Accepted Answer

Wells Fargo provides the utility of place by having a widespread network of stores and ATMs, making it easy for customers to access their banking services.

Question 15

All activities involved in selling,renting,and providing products and services to ultimate consumers for personal,family,or household use are referred to as __________.
A)manufacturing
B)retailing
C)wholesaling
D)facilitating
E)logistics

Accepted Answer

Retailing specifically refers to selling and providing products and services to ultimate consumers for personal, family, or household use. Manufacturing involves the production of goods, wholesaling involves the sale of goods to retailers or businesses, facilitating involves assisting with business transactions, and logistics involves the management of the flow of goods and services.

Question 16

Which of the following is one of the largest retailers in the United States?
A)Hallmark
B)Procter and Gamble
C)Merck
D)Home Depot
E)Johnson and Johnson

Accepted Answer

Home Depot is one of the largest retailers in the United States that specialize in home improvement and construction products and services.

Question 17

Retailing is an important marketing activity.Not only do producers and consumers meet through retailing actions,but retailing also creates __________.
A)the nation's largest source of tax revenues
B)the largest source of charitable contributions
C)limited utilities for consumers
D)customer value
E)a sense of community

Accepted Answer

Retailing plays a crucial role in delivering customer value through various activities such as assortment planning, pricing, promotion, and customer service. It helps in creating and maintaining a loyal customer base by providing a better shopping experience, offering quality products, and personalized services. Hence, the best choice is D- customer value.

Question 18

At the Christmas Tree Shop,customers can shop for Christmas gifts at any time of year.What type of utility primarily does this store provide for its customers?
A)place and conformance
B)possession and form
C)form
D)performance
E)time

Accepted Answer

The Christmas Tree Shop primarily provides time utility for its customers, allowing them to shop for Christmas gifts at any time of year.

Question 19

The ability to shop over the Internet 24 hours a day,7 days a week provides consumers with __________ utility.
A)form
B)time
C)convenience
D)possession
E)performance

Accepted Answer

Shopping over the Internet 24 hours a day, 7 days a week provides consumers with time utility, as they can shop at their convenience and outside of traditional store hours.

Question 20

Four of the 30 largest businesses in the United States are retailers-Walmart,Costco,Home Depot,and _________.
A)Sears
B)Target
C)Best Buy
D)JC Penney
E)Bloomingdale

Accepted Answer

According to the statement, the question is asking for the fourth largest retailer among the 30 largest businesses in the United States. The options are Sears, Target, Best Buy, JC Penney, and Bloomingdale. Among these options, Target is the fourth largest retailer in the US, according to the National Retail Federation. Therefore, the best choice is B)Target.

Quiz 13: Retailing and Wholesaling

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.

CarMax dealers have adopted a "no-hassle,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?

Why do retailers like location-based apps such as Foursquare?

The Sports Authority is a sporting goods superstore that provides year-round inventory of equipment for just about any sport you can name.Even during the "off season," equipment for seasonal sports is available at the Sports Authority.Which utility does the Sports Authority best provide?

The __________ provided by retailers create value for consumers.

A restaurant that offers food made exactly to each customer's preference is providing its customers with __________ utility.

Foursquare,Gowalla,Booyah,Brightkite,and Loopt are

Retailing refers to all activities involved in the

The four utilities offered to consumers through retailing are

Location-based social networking apps such as Foursquare reward customers for

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

Walmart's $447 billion in sales in 2011 surpassed the gross domestic product of all but __________ countries for that same year.

Wells Fargo is one of the best-run banks in the United States.It reaches retail customers through 9,000 stores,a worldwide network of 12,000 ATMs,and its online banking service.Which utility does Wells Fargo best provide?

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

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

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

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

The ability to shop over the Internet 24 hours a day,7 days a week provides consumers with __________ utility.

Four of the 30 largest businesses in the United States are retailers-Walmart,Costco,Home Depot,and _________.