Marketing Final Exam

And crafts has to find a way to dispose of its

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Unformatted text preview: ff-price retailers buy manufacturers’ overruns at cost or even less. PTS: 1 REF: 236 Thinking KEY: CB&E Model Distribution OBJ: 15-3 TOP: AACSB Reflective MSC: BLOOMS Analysis 44. A publisher of books on holiday decorating, cooking, and crafts has to find a way to dispose of its overruns and unsold end-of-season output. As a marketing consultant, you suggest the firm sell the merchandise to: a. mass merchandisers b. convenience stores c. department stores d. supermarkets e. off-price discount retailers ANS: E Off-price discount retailers purchase goods at cost or less from manufacturers’ overruns, bankruptcies, irregular stock supplies, and unsold end-of-season output. The other four categories may be current customers and would not have a use for the overruns and out-of-season stock. PTS: 1 REF: 236 Thinking KEY: CB&E Model Distribution OBJ: 15-3 TOP: AACSB Reflective MSC: BLOOMS Application 45. A _____ is an off-price retailer that is owned and operated by a manufacturer and carries one line of merchandise––its own. a. mass merchandiser b. factory outlet c. wholesale club d. discount store e. bargain basement store ANS: B This describes a factory outlet. PTS: 1 REF: 236 Thinking KEY: CB&E Model Distribution OBJ: 15-3 TOP: AACSB Reflective MSC: BLOOMS Knowledge 46. Well-known manufacturers such as Bose, Ralph Lauren, and Reebok have decided that the most profitable way to dispose of out-of-season and irregular stock is to open stores and sell their own merchandise. These stores are types of: a. seasonal outlets b. mass merchandisers c. factory outlets d. discount stores e. bargain basements ANS: C Factory outlets are a type of off-price retailer that is owned and operated by a manufacturer and carries one line of merchandise––its own. PTS: 1 REF: 236 Thinking KEY: CB&E Model Distribution OBJ: 15-3 TOP: AACSB Reflective MSC: BLOOMS Application 47. Which of the following statements about restaurants is true? a. Restaurants are clearly a retailing establishment. b. There is a strong demand for many more restaurants. c. The demographic issue of time-poor consumers has led to a growing demand for restaurants. d. Because barriers to entry are low, the restaurant business appeals to many people. e. Restaurants are clearly a service industry. ANS: D According to the text, restaurants straddle the line between a retailing establishment and a service industry. Time poverty is not a demographic factor. At the moment, food-service companies are generally overexpanded. PTS: 1 REF: 236 Thinking KEY: CB&E Model Distribution OBJ: 15-3 TOP: AACSB Reflective MSC: BLOOMS Evaluation 48. _____ refers to shopping without visiting a store and is currently growing faster than in-store shopping because of the consumer demand for convenience. a. Nonstore retailing b. Customerization c. Hypershopping d. Niche marketing e. Specialty merchandising ANS: A Nonstore retailing is selling to consumers through other means than by visiting a store. PTS:...
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