Question<\/p>\n
Question 1 of 20<\/p>\n
A value delivery system is based on:<\/p>\n
5.0 Points <\/p>\n
A. outsourcing.<\/p>\n
B. cost minimization.<\/p>\n
C. a high degree of cooperation among all channel members.<\/p>\n
D. one channel member conducting all activities.<\/p>\n
Question 2 of 20<\/p>\n
A manufacturer seeking to maximize its sales should utilize __________ distribution.<\/p>\n
5.0 Points <\/p>\n
A. dual<\/p>\n
B. intensive<\/p>\n
C. selective<\/p>\n
D. exclusive<\/p>\n
Question 3 of 20<\/p>\n
The Robinson-Patman Act: <\/p>\n
5.0 Points <\/p>\n
A. reduced the bargaining power of large retail chains.<\/p>\n
B. removed the fair trade laws in all states.<\/p>\n
C. limited mergers between large firms.<\/p>\n
D. reduced monopolies and restraints of trade.<\/p>\n
Question 4 of 20<\/p>\n
Which service attribute limits expansion possibilities for a service provider? <\/p>\n
5.0 Points <\/p>\n
A. Industrialization of services<\/p>\n
B. Intangibility<\/p>\n
C. Perishability<\/p>\n
D. Inseparability of the service from its provider<\/p>\n
Question 5 of 20 <\/p>\n
5.0 Points<\/p>\n
Suggestion selling, point-of-purchase displays, and attractive store layouts are used by retailers to:<\/p>\n
A. reduce selling costs.<\/p>\n
B. increase customer service.<\/p>\n
C. increase impulse sales.<\/p>\n
D. reduce channel conflict.<\/p>\n
Question 6 of 20<\/p>\n
The distinct competency of a retailer relative to its competitors is referred to as: <\/p>\n
5.0 Points <\/p>\n
A. economies of scale.<\/p>\n
B. its cost advantage.<\/p>\n
C. a focused strategy.<\/p>\n
D. its competitive advantage<\/p>\n
Question 7 of 20<\/p>\n
5.0 Points<\/p>\n
The retail ownership form that has the greatest capacity for raising funds through the sale of stock is a: <\/p>\n
A. sole proprietorship.<\/p>\n
B. corporation.<\/p>\n
C. partnership.<\/p>\n
D. franchise.<\/p>\n
Question 8 of 20<\/p>\n
5.0 Points<\/p>\n
A retailer can determine how consumers perceive the company relative to its retail category and its competitors through: <\/p>\n
A. positioning.<\/p>\n
B. situation analysis.<\/p>\n
C. target market assessment.<\/p>\n
D. control analysis.<\/p>\n
Question 9 of 20<\/p>\n
In exclusive distribution, suppliers: <\/p>\n
5.0 Points <\/p>\n
A. enter into agreements with one or a few retailers that designate the latter as the only companies in specified geographic areas to carry certain brands and\/or product lines.<\/p>\n
B. sell to as many retailers as possible.<\/p>\n
C. sell to a moderate number of retailers.<\/p>\n
D. utilize multiple channels of distribution to reduce channel conflict.<\/p>\n
Question 10 of 20<\/p>\n
The steps in a retail strategy are: <\/p>\n
5.0 Points <\/p>\n
A. interdependent of each other.<\/p>\n
B. independent of each other.<\/p>\n
C. organized by specific and then general factors.<\/p>\n
D. organized by short- and then long-term factors.<\/p>\n
Question 11 of 20<\/p>\n
5.0 Points<\/p>\n
A(n) __________ retail strategy encompasses the extra elements in a value chain that differentiate one retailer from another. <\/p>\n
A. potential<\/p>\n
B. augmented<\/p>\n
C. expected<\/p>\n
D. realized<\/p>\n
Question 12 of 20<\/p>\n
Physical products are NOT involved in which type of service? <\/p>\n
5.0 Points <\/p>\n
A. Repair services<\/p>\n
B. Nongoods services<\/p>\n
C. Rented-goods services<\/p>\n
D. Owned-goods services<\/p>\n
Question 13 of 20<\/p>\n
The consumer group that a retailer tries to satisfy is called its: <\/p>\n
5.0 Points <\/p>\n
A. mass market.<\/p>\n
B. store positioning market.<\/p>\n
C. target market.<\/p>\n
D. market segment.<\/p>\n
Question 14 of 20<\/p>\n
The sorting process refers to: <\/p>\n
5.0 Points <\/p>\n
A. physical distribution assortment by perishability.<\/p>\n
B. a retailer\u2019s pricing goods by quality and size.<\/p>\n
C. government grading standards for produce.<\/p>\n
D. a retailer\u2019s collecting an assortment of goods and services from many vendors.<\/p>\n
Question 15 of 20<\/p>\n
Accounting and legal services are examples of __________ services. <\/p>\n
5.0 Points <\/p>\n
A. pro forma<\/p>\n
B. rented-goods<\/p>\n
C. nongoods<\/p>\n
D. owned-goods<\/p>\n
Question 16 of 20<\/p>\n
A college bookstore that purchases goods from over 200 vendors demonstrates: <\/p>\n
5.0 Points <\/p>\n
A. economies of scale.<\/p>\n
B. a channel of distribution.<\/p>\n
C. the sorting process.<\/p>\n
D. vertical integration.<\/p>\n
Question 17 of 20<\/p>\n
Channel relations are generally smoothest in which form of distribution? <\/p>\n
5.0 Points <\/p>\n
A. Selective distribution<\/p>\n
B. Intensive distribution<\/p>\n
C. Exclusive distribution<\/p>\n
D. Dual distribution<\/p>\n
Question 18 of 20<\/p>\n
From a consumer\u2019s perspective, value is based on: <\/p>\n
5.0 Points <\/p>\n
A. the perception of benefits received versus price paid.<\/p>\n
B. who performs each of the elements in a value chain.<\/p>\n
C. who performs the visible elements in a value chain.<\/p>\n
D. only the price paid.<\/p>\n
Question 19 of 20<\/p>\n
A systematic procedure for analyzing the performance of a retailer is: <\/p>\n
5.0 Points <\/p>\n
A. tactical performance evaluation.<\/p>\n
B. a retail audit.<\/p>\n
C. feedback.<\/p>\n
D. strategy evaluation.<\/p>\n
Question 20 of 20<\/p>\n
5.0 Points <\/p>\n
Consumers lease physical products for a specified period of time with __________ services. <\/p>\n
A. intangible<\/p>\n
B. owned-goods<\/p>\n
C. nongoods<\/p>\n
D. rented-goods <\/p>\n","protected":false},"excerpt":{"rendered":"
Question Question 1 of 20 A value delivery system is based on: 5.0 Points A. outsourcing. B. cost minimization. C. a high degree of cooperation among all channel members. D. one channel member conducting all activities. Question 2 of 20 Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-174658","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/174658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=174658"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/174658\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=174658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=174658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=174658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}