Test your basic knowledge |

Retail Management

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Financial obligations a retailer incurs in operating a business






2. Converts shopping from a passive activity into a more interactive one - by better engaging customers






3. Assumes new merchandise is sold first - while older stock remains in inventory






4. Occurs when a consumer makes full use of the decision process






5. An indoctrination on the firm's history and policies - as well as a job orientation on hours - compensation - the chain of command and job duties






6. A retailer projects the future by studying factors that affect long -run performance and then forms contingency plans based on alternative scenarios






7. Mandates that persons with disabilities be given appropriate access to retailing facilities






8. The perception the shopper has of a value chain. the customers view of all the benefits from a purchase






9. Entails the collection and analysis of information relating to specific issues or problems facing a retailer






10. When a retailer acts in a trustworthy - fair - honest - and respectful manner with each of its constituencies






11. Delineates trading areas on the basis of the product assortment carried at various shopping locations - travel times from the shopper's home to alternative locations - and the sensitivity of the kind of shopping to travel time

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12. Any nonpersonal form of public relations whereby messages are transmitted through mass media - the time or space provided by the media is not paid for - and there is no identified commercial sponsor






13. When a retailer looks at data that have been gathered for purposes other than addressing the issue or problem currently under study






14. Ordering can be computerized and mechanically activated when stock-on-hand reaches the reorder point






15. Performs all of the tasks of a computerized checkout and verifies check and charge transactions - provides instantaneous sales reports - monitors and changes prices - sends intra- and inter- store messages - evaluates personnel and profitability and






16. An inside or outside organization that is used when a retailer wants to keep in close touch with key market trends and cannot do so through just headquarters buying staff






17. When a retailer takes a proactive - integrated atmospherics approach to create a certain "look" - properly displaying products - stimulate shopping behavior and enhancing the physical environment






18. Zeroing in on one specific group






19. Any communication by a retailer that informs - persuades - and/or reminds the target market about any aspect of that firm






20. Involves oral communication with one or more prospective customers for the purpose of making a sale






21. Used to describe depreciated assets - such as buildings and warehouses - that are noted on a retail balance sheet at low values relative to their actual worth






22. A case that holds piles of sale clothing - marked down books or other products






23. Caused by employee theft - customer shoplifting - vendor fraud and administrative errors






24. A technique that enables a retailer to find the profitability of each category or merchandise by computing adjusted per-unit gross margin and assigning direct product costs for such expense categories as warehousing - transportation - handling - and






25. Based on the principle that each customer has different wants; thus - a sales presentation should be geared to the demands of the individual customer






26. The service level that customers want to receive from any retailer - such as basic employee courtesy






27. Risk is still low - but a retailer takes title on delivery and is responsible for damages






28. Awkward spaces where normal displays cannot be set up like light fixtures - wood or metal beams - doors - rest rooms - dressing rooms and vertical transportation






29. A departmentalized food store with a wide range of food and related products; sales of general merchandise are rather limited






30. Consists of products that sell well over nonconsecutive time periods






31. A method of storing and remotely retrieving data using devices called RFID tags or trandponders






32. Outlines a retailer's planned expenditures for a given time based on expected performance






33. Retailers become active in businesses outside their normal operations - and add stores in different goods/service categories






34. When a retailer gathers - integrates - applies - and stores information related to specific subject areas






35. Based on the actual prices received for merchandise sold during a time period less merchandise cost






36. Whereby retailers seek to establish and maintain long-term bonds with customers - rather than act as if each sales transaction is completely new encounter






37. the drive within people to attain work-related goals - can be positive or negative






38. Selling goods and services to a broad spectrum of consumers






39. Encompasses the paid communication activities other than advertising - public relations and personal selling that stimulate consumer purchases and dealer effectiveness






40. The geographical breaking point between two cities (communities) at which consumers are indifferent to shopping at either






41. A type of department store that has a clear customer focus on middle class and lower-middle-class shoppers looking for good value






42. Any item a retailer owns with monetary value






43. An inexpensive display that leaves merchandise in the original carton






44. A "geographic area containing the customers of a particular firm or group of firms for specific goods or services"






45. One way to access information on the Internet - whereby people work with easy-to-use Web addresses and pages






46. Environmental and marketplace factors that can adversely affect retailers if they do not react to them






47. The in-depth analysis of information to gain specific insights about customers - product categories - vendors and so forth. the goal is to learn if there are opportunities for tailored marketing efforts






48. Includes all the elements in retail offering that encourage or inhibit customers during their contact with a retailer






49. Objective - quantifiable - easily identifiable and measurable population data






50. Available from sources outside the firm