Question 1

The retailing mix refers to
A)the activities related to managing the store and the merchandise in the store,which includes product,price,promotion,and place.
B)the activities related to managing the store and the merchandise in the store,which includes the four utilities of time,form,possession,and place.
C)the activities related to managing the store and the merchandise in the store,which includes the colors,sizes,shapes,and perceived value of the store's products.
D)the activities related to managing the store and the merchandise in the store,which includes retail pricing,store location,retail communication,and merchandise.
E)the activities related to managing the store and the merchandise in the store,which includes selection of store location,selection of merchandise,hiring and training of employees,and promotion of both the store and products.

Accepted Answer

The retailing mix includes retail pricing, store location, retail communication, and merchandise, which are key components in managing a retail store and its offerings.

Question 2

The value added dimension of the retail positioning matrix includes elements such as location,product reliability,and __________.
A)prestige
B)price
C)market share
D)number of employees
E)level of service

Accepted Answer

The horizontal or value added dimension of the retail positioning matrix includes elements such as location,product reliability,or prestige.

Question 3

Which of the following retailers would best fit in "B" shown in Figure 16-8 above?
A)Kmart
B)Payless ShoeSource
C)Bloomingdales department store
D)7-Eleven
E)Lamborghini automobile dealer

Accepted Answer

The answer of Which of the following retailers would best...

Question 4

The retailing positioning matrix refers to an analytical tool that
A)positions retail outlets in terms of the breadth of product line and value added.
B)identifies the best location for building or leasing a retail store.
C)identifies the specific customer base served by all stores within a given radius.
D)identifies the most likely target market for a retail outlet based upon its size.
E)identifies the elements of the retailing mix.

Accepted Answer

The retailing positioning matrix is an analytical tool that ranks retailers on two dimensions: breadth of product line and value added. This helps retailers identify their unique positioning in the market and make strategic decisions about how to compete.

Question 5

A customer was unable to go to the store on her own to buy gifts for the holidays.She contacted a Pampered Chef representative who came to her home,showed her not only catalogs but actual products,answered all her questions,and had all the customer's gifts sorted and delivered.This is an example of __________.
A)interface marketing
B)flex-marketing
C)direct selling
D)interactive selling
E)responsive selling

Accepted Answer

This scenario describes direct selling, which involves a representative selling products directly to the customer, often in the customer's own home. The Pampered Chef representative served as a personal shopper and delivered the gifts directly to the customer, which is a hallmark of direct selling.

Question 6

Which quadrant shown in Figure 16-8 above MOST LIKELY are retailers that typically trade a lower price for increased volume in sales,focus on price with low service levels,and possess an image of being a place for good buys?
A)"A"
B)"B"
C)"C"
D)"D"
E)Can't be determined based on the information provided.

Accepted Answer

Retailers in quadrant A typically trade a lower price for increased volume in sales, focus on price with low service levels, and possess an image of being a place for good buys.

Question 7

Which quadrant shown in Figure 16-8 above MOST LIKELY are specialty mass merchandisers that (1)appeal to value-conscious consumers, (2)achieve economies of scale through centralized advertising,merchandising,buying,and distribution, (3)usually have the same design,layout,and merchandise,and (4)are often referred to as "cookie-cutter" stores?
A)"A"
B)"B"
C)"C"
D)"D"
E)Can't be determined based on the information provided.

Accepted Answer

The quadrant that aligns with the characteristics described is C, which represents a mass market retailer that sells products at a low price point and uses standardized design and layout across all locations. These retailers achieve economies of scale through centralized advertising, merchandising, buying, and distribution, which allows them to keep their prices low and appeal to value-conscious consumers.

Question 8

Which quadrant shown in Figure 16-8 above MOST LIKELY are retailers that typically sell a very restricted range of products that are high in status and quality and whose customers are provided with high levels of service?
A)"A"
B)"B"
C)"C"
D)"D"
E)Can't be determined based on the information provided.

Accepted Answer

The answer of Which quadrant shown in Figure 16-8 above...

Question 9

Which of the following statements regarding direct selling is most accurate?
A)Unlike other forms of nonstore retailing,direct selling takes place in the business market.
B)Direct selling is found exclusively in the United States.
C)Direct selling succeeds because it provides customers with convenience and personalized service.
D)Direct sales have been declining rapidly in the United States since the 1980s.
E)By definition,direct selling can only take place in a home.

Accepted Answer

Direct selling is a marketing method in which an independent salesperson sells products directly to consumers, usually in their homes or workplaces. Direct selling succeeds because it provides customers with convenience and personalized service.

Question 10

Which quadrant shown in Figure 16-8 above MOST LIKELY are retailers that pay great attention to store design and product lines,whose merchandise often has a high margin of profit and is of high quality,and whose stores typically provide high levels of service?
A)"A"
B)"B"
C)"C"
D)"D"
E)Can't be determined based on the information provided.

Accepted Answer

Quadrant B represents retailers that focus on high-end merchandise, store design, and customer service, all of which are characteristics described in the question. Quadrants A and C represent retailers that focus on low-end merchandise and may not prioritize store design and service. Quadrant D represents retailers that focus on convenience and low prices, rather than high-quality products and customer service.

Question 11

The activities related to managing the store and the merchandise in the store,which includes retail pricing,store location,retail communication,and merchandise are referred to as the __________.
A)wheel of retailing
B)distribution mix
C)retail life cycle
D)retailing mix
E)retail store positioning

Accepted Answer

The activities related to managing the store and the merchandise in the store are referred to as the retailing mix or retail marketing mix. It includes various elements such as retail pricing, store location, retail communication, and merchandise. The other options given are not a complete representation of these activities. The wheel of retailing refers to the phenomenon of retailers beginning as low-cost, low-price establishments and gradually evolving into higher cost and price operations. The distribution mix refers to the channels of distribution used by the retailers. The retail life cycle is a concept used to describe the evolution of retail formats over time. Retail store positioning refers to the way in which a store is positioned in the minds of the customers in terms of its pricing, merchandise, and other attributes.

Question 12

Which of the following retailers would best fit in "A" shown in Figure 16-8 above?
A)Payless ShoeSource
B)Macy's department store
C)7-Eleven convenience store
D)Walmart
E)Lamborghini automobile dealer

Accepted Answer

The answer of Which of the following retailers would best...

Question 13

The horizontal dimension of the retail positioning matrix is
A)depth of product line.
B)value added.
C)relative market share.
D)breadth of product line.
E)stage in the retail life cycle.

Accepted Answer

The horizontal dimension of the retail positioning matrix is the value added.

Question 14

Which of the following retailers would best fit in "D" shown in Figure 16-8 above?
A)Kmart
B)Payless ShoeSource
C)Dillard's department store
D)7-Eleven
E)Tiffany & Co.

Accepted Answer

The answer of Which of the following retailers would best...

Question 15

The value added dimension of the retail positioning matrix includes elements such as product reliability,prestige,and __________.
A)level of service
B)market share
C)location
D)price
E)number of employees

Accepted Answer

The answer of The value added dimension of the retail...

Question 16

The value added dimension of the retail positioning matrix includes elements such as location,prestige,and __________.
A)level of service
B)market share
C)price
D)number of employees
E)product reliability

Accepted Answer

The answer of The value added dimension of the retail...

Question 17

The retailing mix refers to the activities related to the management of and the merchandise in the store,which includes
A)retail pricing,store location,retail communication,and merchandise.
B)product,price,promotion,and place.
C)the utilities of time,form,possession,and price.
D)the colors,sizes,shapes,and point-of-purchase display locations of the store's products.
E)selection of store location,selection of merchandise,hiring and training of employees,and promotion of both the store and products.

Accepted Answer

The answer of The retailing mix refers to the activities...

Question 18

Which of the following retailers would best fit in "C" shown in Figure 16-8 above?
A)Kmart
B)Payless ShoeSource
C)Dillard's department store
D)7-Eleven
E)Lamborghini automobile dealer

Accepted Answer

The answer of Which of the following retailers would best...

Question 19

The analytical tool that positions retail outlets in terms of the breadth of their product line and value added,such as location,product reliability,or prestige,is referred to as the __________.
A)growth share matrix
B)MAC framework
C)market-product grid
D)retail positioning matrix
E)wheel of retailing

Accepted Answer

The retail positioning matrix is the analytical tool that positions retail outlets based on the breadth of their product line and value-added factors like location, product reliability, or prestige. The other options refer to different analytical tools used in marketing.

Question 20

The vertical dimension of the retail positioning matrix is
A)depth of product line.
B)relative market share.
C)value added.
D)breadth of product line.
E)stage in the retail life cycle.

Accepted Answer

The vertical dimension of the retail positioning matrix is the breadth of product line.

Quiz 16: Retailing and Wholesaling

The retailing mix refers to

The value added dimension of the retail positioning matrix includes elements such as location,product reliability,and __________.

Which of the following retailers would best fit in "B" shown in Figure 16-8 above?

The retailing positioning matrix refers to an analytical tool that

Which quadrant shown in Figure 16-8 above MOST LIKELY are retailers that typically trade a lower price for increased volume in sales,focus on price with low service levels,and possess an image of being a place for good buys?

Which quadrant shown in Figure 16-8 above MOST LIKELY are retailers that typically sell a very restricted range of products that are high in status and quality and whose customers are provided with high levels of service?

Which of the following statements regarding direct selling is most accurate?

Which quadrant shown in Figure 16-8 above MOST LIKELY are retailers that pay great attention to store design and product lines,whose merchandise often has a high margin of profit and is of high quality,and whose stores typically provide high levels of service?

The activities related to managing the store and the merchandise in the store,which includes retail pricing,store location,retail communication,and merchandise are referred to as the __________.

Which of the following retailers would best fit in "A" shown in Figure 16-8 above?

The horizontal dimension of the retail positioning matrix is

Which of the following retailers would best fit in "D" shown in Figure 16-8 above?

The value added dimension of the retail positioning matrix includes elements such as product reliability,prestige,and __________.

The value added dimension of the retail positioning matrix includes elements such as location,prestige,and __________.

The retailing mix refers to the activities related to the management of and the merchandise in the store,which includes

Which of the following retailers would best fit in "C" shown in Figure 16-8 above?

The analytical tool that positions retail outlets in terms of the breadth of their product line and value added,such as location,product reliability,or prestige,is referred to as the __________.

The vertical dimension of the retail positioning matrix is