Question 1

Which of the following statements is true of retailing?
A) A feature common to all types of retail stores is the use of the everyday low pricing strategy.
B) The largest type of retail outlet is a supermarket.
C) A department store has a narrow product line with a deep assortment.
D) Services like hotels, banks, airlines, restaurants, colleges, and hospitals can be retailed.
E) All retail stores are full-service retail stores.

Accepted Answer

Services like hotels, banks, airlines, restaurants, colleges, and hospitals can be retailed, as they involve selling services directly to consumers.

Question 2

Customers at Carat, a premium jewellery store, are encouraged to make an appointment before a visit so that a customer service representative is assigned to them. These representatives help every customer make a purchase that meets his or her needs and budget after considering numerous options. The different styles and special features of the jewellery are explained to each customer to aid the purchase decision. In this case, Carat is an example of a(n) _ .
A) off-price retailer
B) convenience store
C) self-service retailer
D) supermarket
E) full-service retailer

Accepted Answer

Carat is a full-service retailer because it provides personalized service by assigning customer service representatives to assist customers in making informed purchase decisions.

Question 3

Which of the following is a type of off-price retailer?
A) full-service retailer
B) specialty store
C) supermarket
D) warehouse club
E) discount store

Accepted Answer

Warehouse clubs are a type of off-price retailer that sell products at lower prices by offering a no-frills shopping experience and selling in bulk.

Question 4

have filled the ultralow-price, high-volume gap by buying at less-than-regular wholesale prices and charging consumers less than retail.
A) Designer shops
B) Specialty stores
C) Full-service retailers
D) Convenience stores
E) Off-price retailers

Accepted Answer

Off-price retailers buy products at lower-than-regular wholesale prices and sell them to consumers at prices lower than typical retail, filling the ultralow-price, high-volume market gap.

Question 5

Bulk Barn is Canada's largest bulk food distributor with over 275 stores across Canada. The primary role of the staff is to restock shelves and operate cash registers. Customers locate, compare, and select their groceries and other sundry items. Bulk Barn is most likely a _.
A) self-service retailer
B) category killer
C) full-service retailer
D) pop-up store
E) supermarket

Accepted Answer

Bulk Barn is a self-service retailer because customers locate, compare, and select their items themselves, while staff primarily restock shelves and operate cash registers.

Question 6

Which type of retailer is much larger than a regular supermarket and offers a large assortment of routinely purchased food products, nonfood items, and services?
A) factory outlets
B) off-price outlets
C) discount stores
D) specialty stores
E) superstores

Accepted Answer

Superstores are much larger than regular supermarkets and offer a wide variety of food products, nonfood items, and services.

Question 7

Which type of retailer typically carries deep product assortments of narrow product lines?
A) factory outlets
B) self-service retailers
C) warehouse clubs
D) discount stores
E) specialty stores

Accepted Answer

Specialty stores focus on specific product categories, offering a deep assortment within those narrow lines.

Question 8

Aristocrat Bows N Ties, a Toronto necktie retailer, offers a deep assortment of men's neckties. This company is best described as a(n) _ .
A) department store
B) supermarket
C) discount store
D) specialty store
E) off-price retailer

Accepted Answer

Aristocrat Bows N Ties is best described as a specialty store because it focuses on a specific product category, offering a deep assortment of men's neckties.

Question 9

Specialty stores are characterized by .
A) routinely purchased food products and services
B) the sale of convenience and staple items
C) low prices on a wide range of goods
D) a wide range of products and categories
E) narrow product lines with deep assortments

Accepted Answer

Specialty stores focus on narrow product lines but offer a deep assortment within those lines, catering to specific customer needs.

Question 10

Which term refers to a giant specialty store with a very deep assortment of a particular product line?
A) convenience store
B) factory outlet
C) independent store
D) category killer
E) department store

Accepted Answer

A category killer is a large retail store that specializes in a particular product line and offers a deep assortment of products in that category, often dominating the market for that product type.

Question 11

Stores that provide moderate sales assistance because they carry shopping goods about which customers need a moderate level of information are called retailers.
A) limited-service
B) off-price
C) convenience
D) self-service
E) full-service

Accepted Answer

Limited-service retailers provide moderate sales assistance, offering some help and information to customers who are purchasing shopping goods, which require a moderate level of information.

Question 12

A convenience store .
A) involves high operation costs due to full-service customer assistance
B) carries a limited line of high-turnover goods for consumer self-service
C) markets to segments comprised mostly of white-collar workers
D) is a multi-channel food and discount retailer that targets niche markets
E) stocks narrow product lines that have wide, deep assortments

Accepted Answer

Convenience stores typically carry a limited line of high-turnover goods that are designed for consumer self-service, allowing for quick and easy shopping experiences.

Question 13

Office Solutions is a large retailer that specializes in office products and services. Their offerings include a wide and deep assortment of computers, desk furniture, printers, office supplies, stationery, and printing. Office Solutions is most likely an example of a .
A) pop-up store
B) convenience store
C) supermarket
D) category killer
E) lifestyle centre

Accepted Answer

Office Solutions is a category killer because it offers a wide and deep assortment of office-related products, dominating the market in that specific category.

Question 14

creates a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.
A) Consolidation marketing
B) Shopper marketing
C) Test marketing
D) Online marketing
E) Omni-channel retailing

Accepted Answer

Omni-channel retailing refers to a strategy that integrates various shopping channels, including in-store, online, and mobile, to provide a seamless customer experience.

Question 15

Leading "big-box" stores, such as Walmart and Home Depot, now dominate the retail scene. However, even "small-box" stores like Dollarama, are thriving in the current economic environment. All three retailers are considered _.
A) designer shops
B) convenience stores
C) discount stores
D) full-service retailers
E) specialty stores

Accepted Answer

Walmart, Home Depot, and Dollarama are all considered discount stores because they offer products at lower prices compared to traditional retail outlets.

Question 16

refers to the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use.
A) Retailing
B) Procurement
C) Manufacturing
D) Warehousing
E) Sole sourcing

Accepted Answer

Retailing involves selling products or services directly to final consumers for their personal, nonbusiness use.

Question 17

Department stores are most likely characterized by .
A) deep assortments of luxury brands
B) narrow product lines
C) wide varieties of product lines
D) specialty goods and services
E) predatory pricing strategies

Accepted Answer

Department stores are known for offering a wide variety of product lines, including clothing, home goods, and more, under one roof.

Question 18

focuses the entire marketing process-from product and brand development to logistics, promotion, and merchandising-toward turning shoppers into buyers as they move along toward the point of sale.
A) Internal marketing
B) Sole sourcing
C) Warehousing
D) Shopper marketing
E) Test marketing

Accepted Answer

Shopper marketing is a strategy that focuses on the entire marketing process to convert shoppers into buyers as they approach the point of sale, encompassing product development, logistics, promotion, and merchandising.

Question 19

The Hudson's Bay Company (The Bay), a major retail chain across Canada, offers a wide range of consumer goods such as clothing, furniture, home appliances, cosmetics, and jewellery. The Bay is best described as a .
A) specialty store
B) department store
C) supermarket
D) category killer
E) pop-up store

Accepted Answer

The Bay is best described as a department store because it offers a wide range of consumer goods across various categories, such as clothing, furniture, home appliances, cosmetics, and jewellery, all under one roof.

Question 20

Which types of stores are characterized by specialty goods for which customers need assistance and higher operating costs that are passed along to customers as higher prices?
A) full-service stores
B) discount stores
C) off-price stores
D) self-service stores
E) convenience stores

Accepted Answer

Full-service stores are characterized by offering specialty goods that require customer assistance, leading to higher operating costs and consequently higher prices.

Quiz 11: Retailing and Wholesaling

Which of the following statements is true of retailing?

Which of the following is a type of off-price retailer?

have filled the ultralow-price, high-volume gap by buying at less-than-regular wholesale prices and charging consumers less than retail.

Bulk Barn is Canada's largest bulk food distributor with over 275 stores across Canada. The primary role of the staff is to restock shelves and operate cash registers. Customers locate, compare, and select their groceries and other sundry items. Bulk Barn is most likely a _.

Which type of retailer is much larger than a regular supermarket and offers a large assortment of routinely purchased food products, nonfood items, and services?

Which type of retailer typically carries deep product assortments of narrow product lines?

Aristocrat Bows N Ties, a Toronto necktie retailer, offers a deep assortment of men's neckties. This company is best described as a(n) _ .

Specialty stores are characterized by .

Which term refers to a giant specialty store with a very deep assortment of a particular product line?

Stores that provide moderate sales assistance because they carry shopping goods about which customers need a moderate level of information are called retailers.

A convenience store .

Office Solutions is a large retailer that specializes in office products and services. Their offerings include a wide and deep assortment of computers, desk furniture, printers, office supplies, stationery, and printing. Office Solutions is most likely an example of a .

creates a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.

Leading "big-box" stores, such as Walmart and Home Depot, now dominate the retail scene. However, even "small-box" stores like Dollarama, are thriving in the current economic environment. All three retailers are considered _.

refers to the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use.

Department stores are most likely characterized by .

focuses the entire marketing process-from product and brand development to logistics, promotion, and merchandising-toward turning shoppers into buyers as they move along toward the point of sale.

The Hudson's Bay Company (The Bay) , a major retail chain across Canada, offers a wide range of consumer goods such as clothing, furniture, home appliances, cosmetics, and jewellery. The Bay is best described as a .

Which types of stores are characterized by specialty goods for which customers need assistance and higher operating costs that are passed along to customers as higher prices?