Question 1

Wholesalers who have a limited line of fast-moving goods,sell to small retailers for cash and normally do not deliver are known as ________.
A)cash-and-carry wholesalers
B)truck wholesalers
C)drop shoppers
D)rack jobbers
E)None of the above.

Accepted Answer

Cash-and-carry wholesalers have a limited line of fast-moving goods and sell to small retailers for cash only. They usually do not deliver the goods to the retailers.

Question 2

A shopping centre is a group of retail businesses planned,developed,owned and managed as a unit.

Accepted Answer

A shopping centre is indeed a group of retail businesses planned, developed, owned and managed as a unit.

Question 3

The largest single group of wholesalers,accounting for roughly 50 per cent of all wholesaling,are the ________.
A)limited service wholesalers
B)merchant wholesalers
C)brokers
D)manufacturers' agents
E)None of the above.

Accepted Answer

The largest single group of wholesalers are merchant wholesalers, who take title to the products they sell and sell them to retailers, other wholesalers, or industrial, institutional, and commercial users. They account for roughly 50% of all wholesaling. Limited service wholesalers, brokers, and manufacturers' agents are also types of wholesalers but do not constitute the largest single group.

Question 4

In Australia,strip shopping centres,usually built along arterial roads and other high traffic routes,have been a major component in the retail distribution spectrum.

Accepted Answer

Strip shopping centres are common in Australia and are often located along busy roads to attract high volumes of consumers.

Question 5

Unlike other forms of shopping centre,________ ________ ________ are not centrally owned or managed.

Accepted Answer

The answer of Unlike other forms of shopping centre,________ ________...

Question 6

_________ must first define their target markets and then decide how they will position themselves in those markets.

Accepted Answer

The answer of _________ must first define their target markets...

Question 7

All activities involved in selling goods or services directly to final consumers for their personal,non-business use is known as ________.

Accepted Answer

The answer of All activities involved in selling goods or...

Question 8

Retailers must decide on three main product variables: product assortment,________ ________ and ________ ________.

Accepted Answer

The answer of Retailers must decide on three main product...

Question 9

Wholesalers that are owned by farmer-members who assemble farm products to sell in local markets are known as ________.
A)producers' cooperatives
B)truck wholesalers
C)produce wholesalers
D)cash-and-carry cooperatives
E)None of the above.

Accepted Answer

Producers' cooperatives are owned by farmer-members who collaborate to assemble and sell their farm products in local markets. This type of cooperative allows farmers to benefit from economies of scale and reduce transaction and distribution costs. Truck wholesalers and produce wholesalers are not specific to cooperatives and can be independently owned businesses. Cash-and-carry cooperatives are retail outlets that sell goods to members at reduced prices, rather than wholesalers that assemble and distribute products.

Question 10

The wholesaler who contracts to sell a producer's entire output with no territory limits is called a ________.
A)broker
B)manufacturer's agent
C)commission agent
D)selling agent
E)contractor

Accepted Answer

A selling agent is a wholesaler who contracts to sell a producer's entire output with no territory limits, while a broker is a middleman who brings buyers and sellers together and earns a commission based on the transaction. A manufacturer's agent is an independent agent who represents a manufacturer and sells their products on a commission basis, and a commission agent is an intermediary who sells goods on behalf of a producer or seller and is paid a commission on sales. A contractor is someone who agrees to provide products or services for a specific price or fee.

Question 11

Which of the following products would be most likely handled by a drop shipper?
A)fresh-cut orchids
B)plastic beverage sets
C)snack cakes
D)timber
E)laptop computers

Accepted Answer

The answer of Which of the following products would be...

Question 12

Wholesalers today must define their target markets and position themselves effectively.

Accepted Answer

Wholesalers today operate in a highly competitive market and must identify their target market segments and position themselves effectively to succeed. This includes understanding the needs and preferences of their customers, developing effective marketing strategies, and creating a unique value proposition that differentiates their offerings from competitors.

Question 13

The retailing sector suffers from chronic overcapacity,resulting in fierce competition for customer dollars.

Accepted Answer

This statement is true. The retailing sector has a high number of competitors, both physical and online, which creates a constant demand for businesses to offer competitive prices and attractive promotions in order to gain and retain customers.

Question 14

Wholesalers today are increasing the number of lines they carry,choosing to carry a wider assortment in an effort to attract a broader mix of customers.

Accepted Answer

The answer of Wholesalers today are increasing the number of...

Question 15

________ includes all activities involved in selling goods and service to those buying for resale or business use.

Accepted Answer

The answer of ________ includes all activities involved in selling...

Question 16

A(n)________ is a contractual association between a manufacturer,wholesaler or service organisation and independent business people who buy the right to own and operate one or more business units.

Accepted Answer

The answer of A(n)________ is a contractual association between a...

Question 17

Which of the following functions is NOT likely to be performed by a wholesaler?
A)gathering market information
B)buying and assortment building
C)bulk breaking
D)risk bearing
E)selling goods or services to final consumers

Accepted Answer

Wholesalers do not typically sell goods or services directly to final consumers. Instead, they sell to retailers who then sell to consumers.

Question 18

Wholesalers fall into three main groups.Which of the following is largest of those groups?
A)merchant wholesalers
B)agents and brokers
C)producers' co-operatives
D)manufacturers' sales branches and offices
E)full-line sales contractors

Accepted Answer

Merchant wholesalers are the largest group of wholesalers as they buy goods from manufacturers and sell them to retailers, other businesses or end consumers. They take title to the goods and typically carry a wide range of products.

Question 19

The wholesaler who represents two or more manufacturers of related lines is called a ________.
A)broker
B)manufacturer's agent
C)commission agent
D)selling agent
E)contractor

Accepted Answer

A manufacturer's agent represents two or more manufacturers of related lines. A broker typically represents the buyer or seller in a transaction, but not the manufacturer. A commission agent and a selling agent are not typically used to refer to wholesale representation. A contractor is unrelated to wholesale representation.

Question 20

Wholesalers fall into three main groups-merchant wholesalers,brokers and ________,and manufacturers' sales branches and offices.

Accepted Answer

The answer of Wholesalers fall into three main groups-merchant wholesalers,brokers...

Quiz 10: Pricing Strategies: Understanding and Capturing Customer Value

Wholesalers who have a limited line of fast-moving goods,sell to small retailers for cash and normally do not deliver are known as ________.

A shopping centre is a group of retail businesses planned,developed,owned and managed as a unit.

The largest single group of wholesalers,accounting for roughly 50 per cent of all wholesaling,are the ________.

In Australia,strip shopping centres,usually built along arterial roads and other high traffic routes,have been a major component in the retail distribution spectrum.

Unlike other forms of shopping centre, are not centrally owned or managed.

_________ must first define their target markets and then decide how they will position themselves in those markets.

All activities involved in selling goods or services directly to final consumers for their personal,non-business use is known as ________.

Retailers must decide on three main product variables: product assortment, and .

Wholesalers that are owned by farmer-members who assemble farm products to sell in local markets are known as ________.

The wholesaler who contracts to sell a producer's entire output with no territory limits is called a ________.

Which of the following products would be most likely handled by a drop shipper?

Wholesalers today must define their target markets and position themselves effectively.

The retailing sector suffers from chronic overcapacity,resulting in fierce competition for customer dollars.

Wholesalers today are increasing the number of lines they carry,choosing to carry a wider assortment in an effort to attract a broader mix of customers.

________ includes all activities involved in selling goods and service to those buying for resale or business use.

A(n)________ is a contractual association between a manufacturer,wholesaler or service organisation and independent business people who buy the right to own and operate one or more business units.

Which of the following functions is NOT likely to be performed by a wholesaler?

Wholesalers fall into three main groups.Which of the following is largest of those groups?

The wholesaler who represents two or more manufacturers of related lines is called a ________.

Wholesalers fall into three main groups-merchant wholesalers,brokers and ________,and manufacturers' sales branches and offices.