Question 1

Four of the 40 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 prompt, four of the largest businesses in the US are Walmart, Costco, Home Depot, and another retailer. Out of the given options, Target is the only other major retailer that could potentially fit into this category. Therefore, the best choice is B)Target.

Question 2

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

Accepted Answer

The restaurant that offers food made exactly to each customer's preference is providing form utility because they are customizing the form or composition of the food to meet the specific needs and preferences of the customer. Time utility refers to providing products or services at the right time, place utility refers to providing products or services at the right place, possession utility refers to facilitating the transfer of ownership of products or services, and process utility refers to providing a unique and enjoyable customer experience.

Question 3

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 creates customer value by providing products and services that meet the needs and wants of consumers. Through retailing, consumers are able to obtain goods and services that they seek, which in turn creates value for them.

Question 4

As shown in Figure 16-2 above,the GREATEST dollar amount of retail sales in the United States is generated by __________.
A)food and beverage stores
B)sporting goods,books,and music stores
C)electronic stores
D)automotive dealers
E)furniture and home furnishing stores

Accepted Answer

Automotive dealers typically generate the greatest dollar amount of retail sales in the United States due to the high cost of vehicles compared to other retail categories.

Question 5

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 provides time utility by allowing customers to shop for Christmas gifts at any time of year.

Question 6

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

Accepted Answer

Utilities provided by retailers refer to the benefits that customers receive from purchasing products from retail stores. These may include convenience, availability, product information, customer service, etc. These utilities create value for consumers by satisfying their needs and wants in a convenient and efficient manner. Wholesaling functions, outsourcing, profits, and synergies may all contribute to a retailer's success, but they do not directly provide value to consumers.

Question 7

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

The answer of CarMax dealers have adopted a "no-hassle,no-haggle" sales...

Question 8

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 to own, use or consume. By accepting various forms of payment, Albertson's is making it easier for customers to purchase and take possession of their desired products, thus providing possession utility. Time utility refers to providing the product or service at the right time, place utility refers to providing the product or service at the right place, form utility refers to providing the product or service in a desired form or condition, while public utility refers to essential services such as electricity, water, and gas provided by the government or certain private companies.

Question 9

All of the following are examples of marketers developing products and services that use augmented reality EXCEPT:
A)clothing retailers allow consumers to take pictures of themselves and then superimpose images of clothing on them.
B)IBM created an app that enables smartphone users to take a picture of a product they are interested in,then displaying information about that item on the screen based on their preferences (price,nutritional value,etc. ).
C)Kellogg's used augmented reality to display information on 80 million of its cereal boxes.
D)Aurasma has developed pattern recognition software that can identify real-world objects,which then activates animations for consumers to view.
E)Apple's iTV allows viewers to take a picture or video of themselves and then places it in an online,holographic reality TV programs,such as Survivor.

Accepted Answer

Apple's iTV and the example given in choice E does not exist or is not a product that uses augmented reality.

Question 10

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 home improvement retailers in the United States with more than 2,200 stores across the country. Hallmark is primarily a greeting card and gift company, Procter and Gamble and Johnson and Johnson are large consumer goods companies, and Merck is a pharmaceutical company.

Question 11

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 Sports Authority provides "time" utility by making sports equipment available year-round, even during the off-season, ensuring customers can purchase items whenever they need them.

Question 12

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 selling, renting, and providing products and services to ultimate consumers for personal, family, or household use. This encompasses a broad range of activities and can involve both tangible and intangible offerings. Retailers are responsible for managing the supply chain, handling inventory, setting prices, and promoting their offerings to customers.

Question 13

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 14

The overlay of sound,video,and graphics with the real-world environment creates what type of reality for wearers of these new Google Glass digital eyeglasses?
A)virtual
B)cognitive
C)augmented
D)apparent
E)ultimate

Accepted Answer

The term "augmented reality" refers to a technology that overlays computer-generated content such as sound, video, and graphics over the real-world environment to enhance the user's perception of reality. Google Glass digital eyeglasses use this technology to create an augmented reality experience for wearers.

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 involves the activities related to selling products and services directly to the end consumers for personal use. It includes activities like product selection, pricing, promotion, and customer service. Manufacturing refers to the production of goods, wholesaling involves selling products to retailers, and facilitating includes activities like financing and supporting other businesses. Logistics refers to the transportation and delivery of goods.

Question 16

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

The ability to shop online 24/7 provides consumers with time utility, since they can shop whenever it is convenient for them.

Question 17

Walmart's $469 billion in sales in 2012 surpassed the gross domestic product of all but __________ countries for that same year.
A)5
B)12
C)18
D)29
E)55

Accepted Answer

Walmart's $469 billion in sales in 2012 surpassed the gross domestic product of all but 29 countries for that same year.

Question 18

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's extensive network of stores and ATMs allows them to provide the utility of place to their retail customers, making it convenient for them to access their banking services.

Question 19

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. These utilities allow consumers to have access to products when and where they want them, in a way that is convenient for them, and in a form that meets their needs.

Question 20

The revolutionary new __________ resembles a pair of eyeglasses that has both the capability for voice recognition and a small screen capable of displaying information that may help wearers with their shopping experiences as they engage in the purchase decision process.
A)Apple iWatch
B)Facebook Vision
C)EyeTap Goggles
D)Google Glass
E)Foursquare's FourEyes

Accepted Answer

The device described in the sentence is most likely referring to Google Glass, which resembles a pair of eyeglasses with voice recognition and a small display screen. The other choices do not match the description of the device.

Quiz 16: Retailing and Wholesaling

Four of the 40 largest businesses in the United States are retailers-Walmart,Costco,Home Depot,and __________.

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

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

As shown in Figure 16-2 above,the GREATEST dollar amount of retail sales in the United States is generated by __________.

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 __________ provided by retailers create value for consumers.

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?

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.

All of the following are examples of marketers developing products and services that use augmented reality EXCEPT:

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

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?

Retailing refers to all activities involved in the

The overlay of sound,video,and graphics with the real-world environment creates what type of reality for wearers of these new Google Glass digital eyeglasses?

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

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

Walmart's $469 billion in sales in 2012 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?

The four utilities offered to consumers through retailing are

The revolutionary new __________ resembles a pair of eyeglasses that has both the capability for voice recognition and a small screen capable of displaying information that may help wearers with their shopping experiences as they engage in the purchase decision process.