Introduction to the World of Retailing
Multiple Choice Questions
1. (p. 6) What is retailing?
A. It is the merchandising component of the retail mix.
B. It is the set of business activities that adds value to the products and services sold to consumers for their personal use. C. It is the strategy retailers and vendors use to get products into the stores. D. It is the process of offering products in smaller quantities for consumer consumption patterns. E. It is the ability to offer enough variety in a store to encourage one-stop shopping.
2. (p. 6) Which of the following businesses would be considered a retailer? A. a hot dog cart at the Highland Games
B. Delta Airlines
C. University bookstore
E. all of the above
Retailers are businesses that sell goods and/or services.
3. (p. 6) Why is it imperative that manufacturers like Apple Computer and Proctor and Gamble understand how retailers operate? A. Manufacturers will be able to sell directly on-line.
B. Manufacturers will understand how to get their products on the shelves and sold to the customer. C. Manufacturers can better sell merchandise without retailers. D. Retailers can expect fewer buyouts to occur.
E. Manufacturers can limit multi-channel integration
4. (p. 6) A ______________ is a business that sells products and/or services to consumers for their personal or family use. A. manufacturer
5. (p. 6) The decisions that retail manger make include:
A. Selecting their target markets
B. Selecting retail locations
C. Negotiating with suppliers
D. Training and motivating sales associates
E. All of the above
6. (p. 7) A(n) ______________ is a set of firms that make...