1 Retailers are a key component in a supply chain that links manufacturers to consumers.

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1) Retailers are a key component in a supply chain that links manufacturers to consumers.⊚ true ⊚ false

2) If you have ordered food from a restaurant, gotten a haircut from a salon, or ordered clothing from a catalog, you have done business with a retailer.⊚ true ⊚ false

3) The retail sector plays a minimum role in the development of the U.S. economy and developed economies around the world.⊚ true ⊚ false

4) Corporate social responsibility entails a sense of purpose for a firm, more than just making a profit by selling products and services.⊚ true ⊚ false

5) The growth of retail analytics is one of the forces facilitating the growth of large retail firms.⊚ true ⊚ false

6) More retail transactions take place online now than in stores.⊚ true ⊚ false

(Retailing Management, 11e By Michael Levy, Barton Weitz, Dhruv Grewal) (Test Bank Latest Edition 2023-24, Grade A+, 100% Verified) (Answer at the end of each Chapter) 1 / 4

Version 1 2 7) Retailers do not perform traditional business activities.⊚ true ⊚ false

8) Retailing offers entrepreneurial opportunities.⊚ true ⊚ false

9) The largest retail company in the world is headquartered in the United States of America.⊚ true ⊚ false

10) Ethical principles can change over time.⊚ true ⊚ false

11) Which is an example of a nonstore effort involving retailing?

• a firm that sells electronic components to a computer manufacturer
• an online store that sells office supplies to several businesses
• a university bookstore that sells textbooks to students through its online bookstore
• a grocery store that houses a florist shop within the store
• a restaurant that offers delivery through a mobile app

12) Danby Music sells and services musical instruments to students participating in school bands.The company has three store locations and also sells products on its website. Danby Music can be classified as a

• wholesaler.
• retailer.
• local supply chain.
• manufacturer.
• distributor.

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Version 1 3 13) A________ is a business that sells products and/or services to consumers for their personal or family use.

• manufacturer
• wholesaler
• retailer
• distributor
• none of the above

14) A(n)________ is a set of firms that make and deliver a given set of goods and services to the ultimate consumer.

• supply chain
• buying network
• economic network
• integrated wholesale network
• extended enterprise

15) A retailer’s role in a supply chain is to

• act as the liaison between manufacturers and suppliers.
• buy merchandise exclusively from the manufacturers.
• negotiate with manufacturers to draw contracts for wholesalers.
• add value to products and services sold to customers.
• sell goods and services to wholesalers.

16) When retailers engage in activities like breaking bulk or holding inventory, they add______ to the supply chain.

• inefficiency
• value
• costs
• confusion
• competition

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Version 1 4 17) Marvin’s is a large clothing retailer. The store offers over 1,000 brands and 50,000 different products. Which value-creating activity can best be seen in the given example?

• breaking bulk
• scrambled merchandising
• vertical integration
• offering assortments
• add-on selling

18) Which value-creating activity has retailers offering products in quantities tailored to customers’ consumption patterns?

• providing assortments
• breaking bulk
• add-on selling
• holding inventory
• scrambled merchandising

19) Which value-creating activity performed by retailers helps in having products available when consumers want them?

• breaking bulk
• holding inventory
• providing assortments
• providing services
• assisting in the supply chain

20) The value-creating retail activity that is particularly important to consumers with small living quarters who cannot store a large quantity of products is

• providing assortments.
• breaking bulk.
• holding inventory.
• providing services.
• consumerization.

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