Retail Test Bank 12 exam 2023 with 100% correct answers

Retail Test Bank 12 Questions & Answers 2023 Copycat brands imitate the manufacturer's brand in appearance and packing, generally are perceived as lower quality, and are offered at lower prices. - ANSWER-True The availability of national brands can affect a customer's image of the retailer. - ANSWER-True Wholesale markets for retail buyers include only annual trade shows. - ANSWER-False Due to an increase in the production of private-label brands, resident buying offices have become increasingly more significant and important. - ANSWER-False In a Dutch auction, the retail buyer provides a specification for what they would like to be produced for their private-label products, and then manufacturers bid on the opportunity to be the supplier. - ANSWER-False Bonuses are funds vendors give retailers to cover lost gross margin dollars due to markdowns needed to sell unpopular merchandise. - ANSWER-False Slotting allowances are charges imposed by a retailer to stock a new item. - ANSWER-True Credible commitments are tangible investments in the strategic relationship and involve spending money to improve the supplier's products or services provided to the customer. - ANSWER-True Diverted and gray-market goods go through distribution channels that are not authorized or intended by the manufacturer. - ANSWER-True A buyer asking or receiving something of value that influences purchasing decisions occurs in the black market. - ANSWER-False National brands are also called A) generic brands. B) private-label brands. C) exclusive brands. D) manufacturer's brands. E) distributor's brands. - ANSWER-D) manufacturer's brands. Techno Comp is a well-known national brand of computer and electronic products and accessories. Their tablet would be considered a(n) A) premium brand. B) copycat brand. C) umbrella brand. D) exclusive brand. E) subbrand. - ANSWER-E) subbrand. Spring Clean, Sparkle Glass, and Dazzle Floor are various cleaning liquids marketed under the brand name Clean Homes. Therefore, Clean Homes is a(n) A) premium brand. B) copycat brand. C) umbrella brand. D) exclusive brand. E) subbrand. - ANSWER-C) umbrella brand. Tide detergent, Ralph Lauren polo shirts, and Hewlett-Packard printers are all examples of A) private-label brands. B) national brands. C) general brands. D) generic brands.