MKT 315 TEST BANK 2026 QUESTIONS WITH
SOLUTIONS GRADED A+
◉ Pure Retailers. Answer: Sears, Holiday Inn, McDonalds
◉ Retailers that are also wholesalers. Answer: Office Depot, Home
Depot
◉ Four Ways Retailers Add Value. Answer: 1. Breaking Bulk
2. Holding Inventory
3. Providing Assortment
4. Offering Services
◉ Breaking Bulk. Answer: Sell it in quantities customers want.
Manufacturers/wholesalers reduce transportation costs by selling in large
quantities
◉ Holding Inventory. Answer: Buy it at a convenient place when you
want it. Consumers may make unplanned or impulse purchases and have
limited storage
,◉ Providing Assortment. Answer: Buy other products at same time
◉ Offering Services. Answer: See it before you buy it, get credit,
privacy at home
◉ General Trends in Retailing. Answer: Selling merchandise over the
internet and growth in use of multi-channel retailing by traditional
retailers. Using IT to manage supply chains, analyze POS data to tailor
assortments to stores, computer systems for merchandising planning.
◉ Most common Trends in retailing. Answer: 1. Increasing industry
concentration: Few nationals dominate most formats
2. Growing diversity of formats
3. Globalization: Source merchandise from around the world. There are
factors stimulating globalization like transferability of skills/relaxation
of trade barriers.
◉ Retail Mix. Answer: Elements used by a retailer to satisfy customers
needs
1. Pricing
2. Type of merchandise
3. Merchandise and services offered
4. Services offered
, ◉ Pricing. Answer: Price - Cost trade off: The more sales associates who
provide detailed information on the products, the higher the cost.
◉ Types of Merchandise. Answer: Goods/Services offered
◉ Merchandise/Services Offered. Answer: Variety/Assortment
Variety: Breadth of merchandise, wide vs. narrow. Number of categories
offered.
Assortment: Depth of merchandise, deep vs. shallow: Number of
different stockkeeping unites in a merchandise category
◉ SKU. Answer: The smallest unit for keeping inventory
◉ Services Offered. Answer: Retailers differ in the services they offer
customers. There is a general trend toward services.
◉ Types of Retailers. Answer: Merchandise Retailers
Non-store retailers
Service Retailers
◉ Merchandise Retailers. Answer: Food Retailers
SOLUTIONS GRADED A+
◉ Pure Retailers. Answer: Sears, Holiday Inn, McDonalds
◉ Retailers that are also wholesalers. Answer: Office Depot, Home
Depot
◉ Four Ways Retailers Add Value. Answer: 1. Breaking Bulk
2. Holding Inventory
3. Providing Assortment
4. Offering Services
◉ Breaking Bulk. Answer: Sell it in quantities customers want.
Manufacturers/wholesalers reduce transportation costs by selling in large
quantities
◉ Holding Inventory. Answer: Buy it at a convenient place when you
want it. Consumers may make unplanned or impulse purchases and have
limited storage
,◉ Providing Assortment. Answer: Buy other products at same time
◉ Offering Services. Answer: See it before you buy it, get credit,
privacy at home
◉ General Trends in Retailing. Answer: Selling merchandise over the
internet and growth in use of multi-channel retailing by traditional
retailers. Using IT to manage supply chains, analyze POS data to tailor
assortments to stores, computer systems for merchandising planning.
◉ Most common Trends in retailing. Answer: 1. Increasing industry
concentration: Few nationals dominate most formats
2. Growing diversity of formats
3. Globalization: Source merchandise from around the world. There are
factors stimulating globalization like transferability of skills/relaxation
of trade barriers.
◉ Retail Mix. Answer: Elements used by a retailer to satisfy customers
needs
1. Pricing
2. Type of merchandise
3. Merchandise and services offered
4. Services offered
, ◉ Pricing. Answer: Price - Cost trade off: The more sales associates who
provide detailed information on the products, the higher the cost.
◉ Types of Merchandise. Answer: Goods/Services offered
◉ Merchandise/Services Offered. Answer: Variety/Assortment
Variety: Breadth of merchandise, wide vs. narrow. Number of categories
offered.
Assortment: Depth of merchandise, deep vs. shallow: Number of
different stockkeeping unites in a merchandise category
◉ SKU. Answer: The smallest unit for keeping inventory
◉ Services Offered. Answer: Retailers differ in the services they offer
customers. There is a general trend toward services.
◉ Types of Retailers. Answer: Merchandise Retailers
Non-store retailers
Service Retailers
◉ Merchandise Retailers. Answer: Food Retailers
