Chap01tbrev - CHAPTER 1 AN INTRODUCTION TO RETAILING...

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CHAPTER 1 AN INTRODUCTION TO RETAILING Multiple Choice - Terminology/Concept 1. Which statement concerning retailing is correct? a. Retailing activities cannot be performed by wholesalers. b. It is the last stage in the distribution process. c. All retail activities are store-based. d. A lawyer purchasing stationery for use in his/her office is an example of retailing. (b; Challenging; p. 3) 2. According to the Department of Commerce, annual U.S. retail store sales are nearly _____. 3. How many million people are employed by traditional retailers in the United States? 4. On average, what percent of every sales dollar goes to department store retailers as compensation for the activities they perform? 5. In 2010, the three largest retailing companies (based on annual sales) in order of size (from the largest firm) were _____. a. Sears, Kroger, and Wal-Mart b. Sears, Wal-Mart, and Costco c. Wal-Mart, Home Depot, and Kroger d. Wal-Mart, Kroger, and Target (d; Moderate; p. 6) 6. In 2010, the ten largest U.S. retailers earned average after-tax profits amounting to about _____ percent of sales. 1
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Multiple Choice - Terminology/Concept 7. All of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer constitute _____. 8. An electronics retailer accomplishes a consumer’s one-stop needs through _____. 9. The sorting process refers to _____. a. physical distribution assortment by perishability b. a retailer’s pricing goods by quality and size c. government grading standards for produce d. a retailer’s collecting an assortment of goods and services from many vendors (d; Challenging; p. 7) 10. While some manufacturers specialize by producing one product, consumers generally favor retailers with extensive selections from many manufacturers. These divergent viewpoints can be reconciled through _____.
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  • Summer '13
  • hina
  • Sales, c., b. Sears

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