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MAR 3231 Exam 1 FSU Hopkins

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MAR 3231 Exam 1 FSU Hopkins

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  • July 5, 2024
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  • 2023/2024
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MAR 3231 Exam 1 FSU Hopkins
Which statement concerning retailing is correct?

A. All retail activities are store-based
B. Retailing activities cannot be performed by wholesalers
C. It is the last stage in the distribution process
D. A poster manufacturing company purchasing paper from Dunder Mifflin is an
example of retailing - CORRECT ANSWER-C. It is the last stage in the
distribution process

The total retail experience is best defined as _________

A. all the elements in retail offering that encourage or inhibit consumers during
their contact with a retailer
B. those retail strategies that contribute to total satisfaction among all retail
stakeholders
C. a retail operating philosophy that stresses long-term relationships between a
retailer and its customers
D. value-generating elements in the retail transaction - CORRECT ANSWER-A.
all the elements in retail offering that encourage or inhibit consumers during their
contact with a retailer

Channel relations are generally smoothest in which form of distribution?

A. exclusive distribution
B. intensive distribution
C. dual distribution
D. selective distribution - CORRECT ANSWER-A. exclusive distribution

In exclusive distribution, suppliers

A. utilize multiple channels of distribution to reduce channel conflict
B. 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
C. sell to as many retailers as possible

, D. sell to a moderate number of retailers - CORRECT ANSWER-B. 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

The sorting process refers to _________

A. a retailer's collecting an assortment of goods and services from many vendors
B. a retailer's pricing goods by quality and size
C. government grading standards for produce
D. physical distribution assortment by perishability - CORRECT ANSWER-A. a
retailer's collecting an assortment of goods and services from many vendors

The price component of the value equation _________

A. can include the challenges of assembling a product
B. includes inconvenient store hours
C. is only the financial costs of acquiring a product
D. includes inadequate parking - CORRECT ANSWER-A. can include the
challenges of assembling a product

The results area of the value equation includes factors such as _________

A. fun shopping experience
B. short wait times
C. wide aisles
D. overall product quality - CORRECT ANSWER-D. overall product quality

Proof that Amazon fully embraces the retailing concept is evident in Amazon's
_________

A. customer orientation
B. goal orientation
C. focus on value
D. all answers are correct - CORRECT ANSWER-D. all answers are correct

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