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The wheel of retailing concept

241. The wheel of retailing concept

A. is consistent with the emergence of supermarkets in the 1930s.
B. explains the early success of convenience (food) stores.
C. explains the early success of vending machines.
D. suggests that new types of retailers usually emerge as high-price, high-cost operations, and then cut their prices as competitors enter the market.
E. None of these alternatives is true.
242. “Scrambled merchandising” refers to:

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A. retailers shifting from one product-market to another (e.g., a food retailer shifting to clothing).
B. limited-line retailers carrying wide assortments.
C. retailers carrying any product lines they can sell profitably.
D. displays of impulse products in supermarkets.
E. incompatible price and promotion policies.
243. Scrambled merchandising is carrying

A. any product lines that a store thinks that it can sell profitably.
B. discounted product lines.
C. a specific product line and offering yearly discounts.
D. a number of product lines and offering a clearance sale twice a year.
E. a limited product line at a high price aimed at a small number of consumers.
244. The idea that retailers will start to sell a new product that offers a profit margin higher than what they achieve on their traditional product line is consistent with the

A. marketing concept.
B. operating philosophy of most limited-line retailers.
C. wheel of retailing concept.
D. scrambled merchandising concept.
E. none of these is a good answer.
245. The trend toward scrambled merchandising can be explained by:

A. the “Wheel of Retailing” Theory.
B. the fact that cities are getting larger and larger, and it is harder for a retailer to segment the market.
C. growing consumer demand for more service in retail stores.
D. the fact that some retailers have traditionally used markups which seem “too high” to other retailers.
E. the growth of in-home shopping.
246. Which of the following is best illustrated by a supermarket that carries Nintendo video games?

A. The superstore concept
B. Scrambled merchandising
C. The wheel of retailing
D. Target marketing
E. Mass merchandising
247. A new grocery store features a bank, a pharmacy, a flower shop, a full-service bakery, a café, photo processing, and equipment rentals, in addition to its normal grocery product lines. The store is engaging in:

A. The wheel of retailing.
B. Retailing strategy.
C. Scrambled merchandising.
D. The retail life cycle.
E. Merchandising strategy.
248. The development of new types of retailers can be best explained by applying:

A. the rule of franchising.
B. target marketing and product life cycle concepts.
C. the corporate chain hypothesis.
D. the wheel of retailing theory.
E. the law of retail gravitation.
249. Retailer life cycles (from introduction to maturity) seem to be:

A. getting longer.
B. getting shorter.
C. staying about the same.
D. changing erratically.
E. none of these is a good answer.
250. U.S. Census data show that:

A. retailers are more numerous than manufacturers and wholesalers combined.
B. only about 15 percent of all retailers have annual sales over $5 million.
C. over half of all retailers have annual sales less than $1 million.
D. there are over 1 million retailers.
E. all of these alternatives are correct.
251. Regarding retail sales in the U.S., it is true that:

A. less than 6 percent of all retail sales are made by smaller stores–those with sales less than $1 million a year.
B. almost 75 percent of all retail sales are made by the largest stores–those with sales over $5 million a year.
C. corporate chains account for about 50 percent of retail sales.
D. franchising accounts for one-third of retail sales.
E. All of these alternatives are correct.
252. Regarding retailer store size, it is true that:

A. almost 75 percent of all retail sales are made by smaller stores–those with annual sales less than $1 million.
B. almost 75 percent of all retail sales are made by the largest stores–those with annual sales over $5 million a year.
C. small retailers are unimportant and can safely be ignored by most manufacturers and wholesalers.
D. big retailers do a lot of business but they make up less than 5 percent of stores.
E. None of these alternatives is correct.
253. U.S. Census data show that:

A. less than 15 percent of all retailers have annual sales over $1 million.
B. very large retailers account for a small percentage of total retail sales.
C. manufacturers and wholesalers are more numerous than retailers in the United States.
D. only about 15 percent of all retailers have annual sales over $5 million.
E. None of these alternatives is correct.
254. Regarding retailer size and sales volume in the U. S.:

A. Approximately 15% of retail stores account for 75% of all retail sales.
B. Approximately 15% of retail stores account for 85% of all retail sales.
C. Approximately 15% of retail stores account for 95% of all retail sales.
D. Approximately 20% of retail stores account for 80% of all retail sales.
E. Approximately 30% of retail stores account for 70% of all retail sales.
255. A corporate chain is defined as

A. a firm that owns and manages more than one store.
B. retailer-sponsored groups formed by independent retailers that run their own buying organizations and conduct joint promotion efforts.
C. wholesaler-sponsored groups that work with “independent” retailers.
D. franchisors who develop good marketing strategies, and who carry out the strategy in their own units.
E. a firm that owns a single-store but operates through multiple franchisors.
256. A corporate chain:

A. Is formed by independent retailers that work together.
B. Is sponsored by a wholesaler.
C. Is formed when a firm owns and manages more than one store.
D. Involves franchisees that pay commissions and fees to the parent company.
E. None of these alternatives is correct for a corporate chain.
257. Corporate chains

A. have continued to grow–and now account for about half of all retail sales.
B. have an advantage relative to independent stores when it comes to promotion and use of dealer brands.
C. increase their buying power by centralizing at least some of the buying for different stores.
D. increase their efficiency by building their own distribution centers.
E. all of these alternatives are correct for corporate chains.
258. Corporate chains:

A. can get a cost advantage over independent stores by spreading management costs to many stores.
B. account for nearly 10 percent of retail sales.
C. usually cannot obtain economies of scale in distribution.
D. are declining in importance.
E. None of these alternatives is correct for corporate chains.
259. Cooperative chains:

A. are sponsored by wholesalers to try to compete with corporate chains.
B. are experiencing declining sales.
C. are formed by independent retailers to run their own buying organizations and conduct joint promotion efforts.
D. are consumer groups who run nonprofit buying associations.
E. None of these alternatives is true for cooperative chains.
260. Chains formed by independent retailers to run their own buying organizations and conduct joint promotion efforts are called:

A. cooperative chains.
B. true values.
C. voluntary chains.
D. retailer chains.
E. franchise operations.
261. Retailer-sponsored groups formed by independent retailers that run their own buying organizations and conduct joint promotion efforts are called:

A. Corporate chains
B. Voluntary chains
C. Cooperative chains
D. Franchise operations
E. Private chains
262. A wholesaler-sponsored retail chain is called a:

A. consumer cooperative.
B. corporate chain.
C. franchise chain.
D. voluntary chain.
E. cooperative chain.
263. Voluntary chains are

A. firms that own and manage more than one store.
B. retailer-sponsored groups formed by independent retailers that run their own buying organizations and conduct joint promotion efforts.
C. wholesaler-sponsored groups that work with “independent” retailers.
D. franchisors who develop good marketing strategies, and who carry out the strategy in their own units.
E. firms that own a single-store but operate through multiple franchisors.
264. A number of independent drugstores are working with a wholesaler to obtain economies of scale in buying. They were organized by this wholesaler after a recent meeting to discuss ways of competing with corporate chains. These drugstores are now part of a:

A. corporate chain.
B. voluntary chain.
C. consumer cooperative.
D. cooperative chain.
E. franchise chain.
265. Franchisors:

A. account for about a third of all retail sales.
B. often provide franchise holders with training.
C. usually receive fees and commissions from the franchise holder.
D. are especially popular with services retailers.
E. all of these alternatives are correct for franchisors.
266. Franchise operations:

A. generally have very loose ties between the franchisor and franchise holders.
B. are expected to decline in the future because the service sector of the economy is failing.
C. currently account for about a third of all retail sales.
D. do not form chains.
E. None of these alternatives is true.
267. Franchise operations provide a good example of:

A. vertical integration.
B. contractual vertical marketing systems.
C. administered channels in which the retailers are the channel captains.
D. direct-to-buyer channels.
E. None of these is a good answer.
268. Which of the following is NOT a franchise operation?

A. Midas Muffler
B. Panera Bread
C. Jiffy Lube
D. True Value Company
E. Taco Bell
269. Which of the following is NOT a franchise operation?

A. Subway (food).
B. H and R Block (tax work).
C. Kinko’s (copy center).
D. 7-Eleven (convenience store).
E. All of these are franchise operations.
270. Which of the following statements about retailing in different nations is NOT true?

A. Mass-merchandisers are especially popular in less-developed nations.
B. Some large retail chains are moving into international markets.
C. Supermarkets started in the U.S.
D. Supercenters started in Europe.
E. New retailing formats that succeed in one country are quickly adapted to other countries.
271. Business firms that sell to retailers and other merchants, and/or to industrial, institutional, and commercial users–but which do not sell in large amounts to final consumers–are:

A. retailers.
B. collaborators.
C. producers.
D. wholesalers.
E. intermediaries.
272. The U.S. Census Bureau defines wholesaling as being concerned with the activities of those persons or establishments that sell

A. to retailers and other merchants, but that do not sell in large amounts to final consumers.
B. to industrial users.
C. to institutional users.
D. to commercial users.
E. All of these alternatives are correct.
273. Wholesaling is concerned with the activities of:

A. manufacturers who set up branch warehouses at separate locations.
B. persons or establishments that sell to industrial, institutional, and commercial users.
C. persons or establishments that sell to retailers.
D. All of these alternatives are correct.
274. Wholesalers:

A. Have had to deal with a competitive threat posed by large retailers that have taken over wholesale functions.
B. Are using e-commerce to serve customers more effectively.
C. Face competitive pressure from shipping companies such as FedEx and UPS that make it easier for producers to ship directly to customers.
D. Are beginning to increase profitability by carefully selecting their retailer-customers.
E. All of these alternatives are true.
275. Regarding the future of wholesalers, which of the following statements is TRUE?

A. Most high-cost wholesalers will disappear in the near future.
B. Modern wholesalers are seeing that vertical integration with producers provides their only assurance of long-run survival.
C. Some small high-cost wholesalers will probably survive due to the specialized services they offer some market segments.
D. Net profit margins in wholesaling have been increasing in recent years.
E. All of these statements are TRUE.
276. Regarding wholesaling, which of the following is(are) true?

A. Merchant wholesalers have higher sales than agent wholesalers, but their costs (as a percent of sales) are over three times as high.
B. There are many more manufacturers’ sales branches than merchant wholesalers.
C. Manufacturers’ sales branches have higher costs than agent wholesalers and account for a smaller percentage of total sales.
D. Good marketing managers select the type of wholesaler with the lowest cost when planning channels of distribution.
E. All of these alternatives about wholesaling are true.
277. Regarding types of wholesalers, which of the following has the HIGHEST costs as a percent of sales?

A. Manufacturers’ sales branches (with stock)
B. Merchant wholesalers
C. Brokers
D. Manufacturers’ agents
E. Agent wholesalers
278. Regarding wholesalers, which of the following types has the LOWEST costs as a percent of sales?

A. Specialty wholesalers
B. Merchant wholesalers
C. Manufacturers’ sales branches
D. Agent wholesalers
E. Service wholesalers
279. Regarding wholesalers, which of the following is the most numerous?

A. Service wholesalers.
B. Agent wholesalers.
C. Limited-function wholesalers.
D. Manufacturers’ sales branches.
E. Merchant wholesalers.
280. Warehouses that producers set up at separate locations away from their factories are known as

A. progressive wholesalers.
B. manufacturers’ sales branches.
C. corporate chains.
D. hypermarkets.
E. retail production centers.

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