1. Trade (commerce) is …

a) how the consumers see the brand: the values they associate with it.

b) the voluntary exchange of goods, services, or both.

c) a division of trade or production which deals with the exchange of goods and services.

2. barter is …

a) the process of transforming something into a product, service or activity which one may then use in commerce.

b) a type of retail where goods are shipped directly to consumer’s homes or workplaces.

c) the direct exchange of goods and services.

3. commercialization is …

a) the direct exchange of goods and services.

b) the process of transforming something into a product, service or activity which one may then use in commerce.

c) the pricing strategy at which the firm essentially ignores costs and market demand.

4. wholesaling is …

a) a distribution channel function where one organization buys products from supplying firms with the primary intention of redistributing to other organizations (but, in general, not to the final consumer).

b) the image of a typical consumer.

c) the process of getting the products to the customer.

5. middleman is …

a) a process when, at a particular market price, the quantity that suppliers want to provide to the market is less than the quantity that demanders want to purchase.

b) a group of people who create something new and start a new trend.

c) any person or firm that enters the distribution process between the manufacturer and ultimate buyer.

6. retailing is …

a) the pricing strategy at which the firm essentially ignores costs and market demand.

b) selling goods and services to the ultimate consumer.

c) a type of retail where goods are shipped directly to consumer’s homes or workplaces.

7. retailer is …

a) the final link from the producer to the consumer that is why this is the most expensive in the chain of distribution.

b) the highest qualification that a person has, such as a diploma or a degree.

c) the function of marketing which involves extending credit to consumers, wholesalers, and retailers.

8. on-line retailing is …

a) the orientation of the whole organization towards its brand.

b) a type of electronic commerce used for business-to-consumer (B2C) transactions.

c) adding further items in that part of a product range which a line already covers.

9. cost-plus pricing is …

a) a pricing technique which involves adding a mark-up amount (or percentage) to the retailer’s cost.

b) any arrangement which enables buyers and sellers to transact business in such a way that prices can be established and exchanges take place.

c) the pricing strategy at which the firm essentially ignores costs and market demand.

10. retailing pricing is …

a) the consequence of laws and logical development of the world economy, world market, and regional markets too.

b) a pricing technique which involves adding a mark-up amount (or percentage) to the retailer’s cost.

c) a pricing technique which involves charging the amount suggested by the manufacturer and usually printed on the product by the manufacturer.

11. counter service is …

a) the location of certain goods and services as well as distribution of them.

b) a type of retail where goods are out of reach of buyers and must be obtained from the seller.

c) a kind of discount which is given to customers who buy in large quantities.

12. delivery is …

a) the function of marketing which involves extending credit to consumers, wholesalers, and retailers.

b) is a type of retail where goods are shipped directly to consumer’s homes or workplaces.

c) a group of people who create something new and start a new trend.

13. direct marketing is …

a) an integrated communication-based process through which individuals and communities discover that existing and newly-identified needs and wants may be satisfied by the products and services of others.

b) the consequence of laws and logical development of the world economy, world market, and regional markets too.

c) a type of retail where goods are shipped directly to consumer’s homes or workplaces.

14. self-service is …

a) a type of retail where goods may be handled and examined prior to purchase.

b) a type of electronic commerce used for business-to-consumer (B2C) transactions.

c) a location where product is available and how it is distributed or means of getting the product or service to the customer.

15. door-to-door service is …

a) a kind of marketing research which involves collecting a lot of information by using techniques such as questionnaires and other firms of survey.

b) a change we pay others to make for us.

c) a type of retail where the salesperson sometimes travels with the goods for sale.

16. distribution channel is …

a) the markets dealing mainly with commodities that will be available in the future rather than goods that are available immediately.

b) the set of people and firms involved in the transfer of title to a product as the product moves from producer to ultimate consumer or business user.

c) a middleman who helps to move goods from manufacturers to consumers and then sells them in its turn to the retailer.

17. department store is …

a) the only price at which the interests of demanders happen to coincide precisely with the interests of the suppliers.

b) the most complex element that includes all kinds of communication in marketing: advertising, sales, direct mail, free additions, testers etc.

c) a kind of shop which consists of several special shops under one roof and offer customers the attractive prospect of doing most of their shopping in one building.