<p> Chapter 11 Quiz BU270 PRINCIPLES OF MARKETING</p><p>Chapter 11—Retailing</p><p>NAME:______SCORE:______DATE</p><p>TRUE/FALSE</p><p>1. Retailing can be defined as all activities directly related to the sale of goods and services to the ultimate consumer for personal and nonbusiness use.</p><p>REF: p. 350</p><p>2. The retailing industry is dominated by a large number of small- and medium-sized companies.</p><p>REF: p. 350</p><p>3. L.L. Bean sells casual clothing through catalogs mailed to homes and online service. Because L.L. Bean does not have a store front, it is not considered a retailer.</p><p>REF: p. 350</p><p>4. A retail establishment can be classified according to its ownership, level of service, product assortment, and price.</p><p>REF: p. 351 5. In general, the higher the gross margin, the lower the prices at the store.</p><p>REF: p. 352</p><p>6. Esther Jui has just opened a specialty store that will sell Asian wedding gowns to Asian-Americans who want a traditional wedding. Because it will be a specialty store, she should have a broad product assortment with moderately low prices.</p><p>REF: pp. 351-352</p><p>7. Lou Farrigamo is the store manager of a local retailing establishment that sells a wide variety of shopping and specialty goods, including apparel, cosmetics, housewares, and electronics. Farrigamo probably manages a department store.</p><p>REF: p. 352</p><p>8. Hildebrand Stein operates a retail store that has a wide assortment of window treatments with little depth in any one product line. Stein operates a specialty store.</p><p>REF: p. 353</p><p>9. Roland LaFarge owns an appliance store where he also sells bird feeders, tools, electrical and plumbing supplies, collectible figurines, homemade candy, and greeting cards, as well as wall paint. LaFarge uses multibrand merchandising.</p><p>REF: p. 354</p><p>Business Division COM-FSM National Campus Chapter 11 Quiz BU270 PRINCIPLES OF MARKETING</p><p>10. Baggie Waggie is the name of a chain of small stores, which carry high-turnover products such as lip balm, milk, laundry detergent, bread, and aspirin. Baggie Waggie stores are open all day every day and would best be classified as convenience stores.</p><p>REF: p. 355</p><p>11. A typical discount store competes by carrying a limited line of high-turnover, high-margin goods.</p><p>REF: p. 355</p><p>12. Supercenters are more than just larger versions of traditional "markets." In addition to foodstuffs, supercenters have pharmacies, dry cleaners, portrait studies, photo finishing, hair salons, and restaurants.</p><p>REF: p. 356</p><p>13. Specialty discount stores are often called category killers because they dominate the competition in their narrow merchandise segment.</p><p>REF: p. 357</p><p>14. Off-price retailers differ from other discount stores in the merchandise they carry. While most other discounters offer a predictable assortment of merchandise, the styles and brands offered at off-price retailers change frequently because they buy only what is currently available at a good deal.</p><p>REF: p. 358</p><p>15. Marketers who use nonstore retailing no longer have to worry about the "place" element of the four Ps.</p><p>REF: p. 359</p><p>16. Most direct retailers use a party plan in lieu of door-to-door selling.</p><p>REF: p. 360</p><p>17. Gloria sells high-end cookware for the Pampered Chef. She throws parties at her friends’ houses, where her friends and their friends can buy products. This is known as telemarketing.</p><p>REF: p. 360</p><p>18. The person who called Grace last night and tried to sell her a subscription to Better Homes & Gardens magazine was using inbound telemarketing.</p><p>REF: p. 362</p><p>19. Electronic retailing includes the twenty-four hour, shop-at-home television networks and on-line retailing.</p><p>REF: p. 362</p><p>20. The two types of franchising are target market franchising and geographic franchising.</p><p>REF: p. 365 21. The six Ps of the retailing mix are product, place, price, promotion, personnel, and planning.</p><p>REF: p. 367</p><p>Business Division COM-FSM National Campus Chapter 11 Quiz BU270 PRINCIPLES OF MARKETING</p><p>22. Petco has just purchased a sizable plot of land on which it will build a store building with a large parking lot. Across the street is a collection of specialty shops and a furniture store. Petco will be part of a strip shopping center.</p><p>REF: p. 370</p><p>23. To ensure that a firm has the desired atmosphere, retailers must select appropriately dense employees with lots of character.</p><p>REF: p. 373</p><p>24. For the past few years, adding interactivity in the retail environment has been one of the most popular strategies in retailing.</p><p>REF: p. 375</p><p>25. M-commerce is a type of managed commerce in which both buyer and seller end the transaction with a win-win feeling.</p><p>REF: p. 376</p><p>Business Division COM-FSM National Campus</p>
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