Marketing Final Exam

Marketing Final Exam

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Unformatted text preview: r ANS: C Franchises are owned and operated by individuals but are licensed by larger supporting organizations. PTS: 1 REF: 232 Thinking KEY: CB&E Model Distribution OBJ: 15-2 TOP: AACSB Reflective MSC: BLOOMS Application 11. The number of different varieties of fishing lures carried by the Angler’s Store refers to the store’s: a. store’s supply standard b. complete retail offering c. retail mix d. volume e. assortment depth ANS: E Breadth and depth refers to product assortment. PTS: 1 REF: 232 Thinking KEY: CB&E Model Distribution OBJ: 15-2 TOP: AACSB Reflective MSC: BLOOMS Application 12. Which of the following types of stores has a high gross margin, a narrow product assortment, and a high level of service? a. A supermarket b. A warehouse club c. A convenience store d. A full-line discount store e. A specialty store ANS: E These are characteristics of specialty stores. See Exhibit 15.1. PTS: 1 REF: 232 Thinking KEY: CB&E Model Distribution OBJ: 15-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 13. _____ shows how much the retailer makes as a percentage of sales after the cost of goods sold is subtracted. a. b. c. d. e. Net income Retained earnings Profitability Net equity Gross margin ANS: E This is the definition of gross margin. PTS: 1 REF: 233 Thinking KEY: CB&E Model Pricing OBJ: 15-2 TOP: AACSB Reflective MSC: BLOOMS Knowledge 14. As a general rule of thumb, a retailer that has a high gross margin will have: a. m-commerce capabilities b. an inventory management system c. low prices d. salespeople trained in cross-selling techniques e. high prices ANS: E The level of gross margin and the price level generally match. PTS: 1 REF: 233 Thinking KEY: CB&E Model Pricing OBJ: 15-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 15. Housing several departments under one roof, a _____ carries a wide variety of shopping and specialty goods, including apparel, cosmetics, housewares, electronics, and sometimes furniture. a. supermarket b. specialty store c. convenience store d. super club e. department store ANS: E Department stores house several departments under one roof. PTS: 1 REF: 233 Thinking KEY: CB&E Model Distribution OBJ: 15-3 TOP: AACSB Reflective MSC: BLOOMS Knowledge 16. Which type of retail store would typically have the highest labor costs? a. A warehouse club b. A department store c. An off-price store d. An off-price retailer e. A discount store ANS: B A department store carries a wide variety of shopping and specialty goods in several departments and provides a high level of service, all of which is labor intensive and adds to the cost of doing business. PTS: 1 REF: 233 Thinking KEY: CB&E Model Distribution OBJ: 15-3 TOP: AACSB Reflective MSC: BLOOMS Comprehension 17. Each department in a department store is usually headed by a _____ who selects the merchandise mix for the department and may also choose the promotional devices and personnel for that department. a. franchisee b. financial broker c. comp...
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This document was uploaded on 09/29/2013.

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