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Exam 16: Retailing and Wholesaling

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Question 61

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CarMax dealers have adopted a "no-hassle,no-haggle" sales policy that eliminates the need for negotiating.Instead,all customers are offered the same price.Test drives,financing,trade-ins,and leasing are all offered to encourage customers to purchase a car.Which utility does CarMax best provide?

A) product
B) form
C) convenience
D) service
E) possession

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Question 62

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List the five store locations or settings.How has the location of stores changed over the years?

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Department stores started downtown in mo...

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Question 63

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Companies such as Avon,Fuller Brush,Mary Kay,and World Book are examples of firms that use

Which of the following is a type of full-service merchant wholesaler?

Many fast food retailers,including McDonald's and Burger King,have followed a predictable pattern of how new forms of retail outlets enter the marketplace.McDonald's has evolved from a relatively simple restaurant with low margins,low prices,limited product offerings,and low institutional status to a worldwide chain with higher margins,high status,and a diverse menu of products.This evolution of McDonald's restaurants is consistent with the

The value added dimension of the retail positioning matrix includes elements such as location,product reliability,and __________.

Many retailers take a markdown as soon as sales fall to free valuable selling space and cash.This illustrates one tactic for handling the __________ of markdowns.

Multichannel Merchant magazine evaluates hundreds of entries to select the winners of the Multichannel Merchant Awards in 18 categories for companies that have excelled in

Stores like Dillard's,Macy's,and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type.These retailers are known as __________.

The acronym RFID stands for

Many retailers advocate a(n) __________ strategy,a pricing strategy that may not offer the lowest prices but does try to create value for customers through its service and the total buying experience.

When setting prices for merchandise,retailers must decide on the markup,markdown,and the __________ for markdowns.

The retail life cycle refers to

Another name for an extreme value retailer is a(n) __________.

Another term for gross margin is __________.

The four major types of limited-service merchant wholesalers are drop shippers,rack jobbers,truck jobbers,and __________.

Subway is a popular __________.

Which of the following stores shown in the UMD16A: Sales per Square Foot Marketing Dashboard above has the HIGHEST sales per square foot?

The level of service that requires that the customers themselves to perform many functions during the purchase process is __________.

Direct-mail and catalog retailing are examples of __________.