SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Retail Management
Start Test
Study First
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. Analyzes a firm's overall performance - from the organizational mission to goals to customer satisfaction to the basic retail strategy mix and its implementation in an integrated - consistent way
Horizontal Retail Audit
Data-Base Retailing
Open Credit Account
Cooperative Buying
2. Lets consumers bargain over prices; those who are good at it obtain lower prices
Constrained Decision Making
Employee Empowerment
Flexible Pricing
Vending Machine
3. 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
Mergers
Data Mining
Goods/Service Category
Positioning
4. When a retailer looks at data that have been gathered for purposes other than addressing the issue or problem currently under study
Operating Expenses
Logistics
Secondary Data
Goods Retailing
5. Suppliers sell through a moderate number of retailers
Selective Distribution
Rented-Goods Services
Goods/Service Category
Horizontal Retail Audit
6. Divides all retail activities into four functional areas - merchandising - publicity - store management - and accounting and control
Monthly Sales Index
Performance Measures
Mazur Plan
Direct Marketing
7. The number of distinct people exposed to a retailers promotion efforts in a specific period
Electronic Article Surveillance
Reach
Consignment Purchase
Percentage-of-Sales Method
8. Used to acquire more specific estimates - which divides each month's actual sales by average monthly sales and multiplies the results by 100
Augmented Customer Service
Weeks' Supply Method
Price-Quality Association
Monthly Sales Index
9. The sum total of an individuals traits - which make that individual unique
Rationalized Retailing
Additional Markup
Personality
Convenience Store
10. A retailer charges the same price to all customers buying an item under similar conditions
One-Price Policy
Percentage Variation Method
Physical Inventory System
All-You-Can-Afford Method
11. Zeroing in on one specific group
Concentrated Marketing
Planogram
Ensemble Display
Americans With Disabilities Act
12. Stipulates that rent is related to sales or profits; protects a property owner against inflation and lets it benefit if a store is successful
Traditional Job Description
Percentage Lease
Cooperative Buying
Customer Service
13. Forecasts average sales weekly - so beginning inventory equals several weeks expected sales
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
14. Embodied by a series of activities and processes that provides a certain value for the consumer
Value (retailer)
Owned-Goods Services
Width of Assortment
Direct Selling
15. A type of retail institution that is a department in a retail store that is rented to an outside party
Leased Department
Dual Marketing
Cost of Goods Sold
Post-Purchase Behavior
16. Where a consumer must pay the bill in full when it is due
Point of Difference
Open Credit Account
Predatory Pricing
Generic Brands
17. Caused by employee theft - customer shoplifting - vendor fraud and administrative errors
Memorandum Purchase
Inventory Shrinkage
Department Store
Battle of the Brands
18. Customer orientation - coordinated effort - value driven and goal orientation
Book (Perpetual) Inventory System
Loss Leaders
Retailing Concept
Direct Store Distribution (DSD)
19. Risk is still low - but a retailer takes title on delivery and is responsible for damages
Horizontal Price Fixing
Electronic Point of Sale System
One-Hundred Percent Location
Memorandum Purchase
20. A retailer offers discounts to customers who buy in quantity or who buy a product bundle
Bait-and-Switch Advertising
Job Motivation
Multiple-Unit Pricing
Reorder Point
21. Selection process of one opinion from others. a person determines the criteria to evaluate and their importance before buying
Fad Merchandise
Public Relations
Evaluation of Alternatives
Merchandising Philosophy
22. Whereby a retailers sells to consumers through multiple retail formats
Case Display
Expected Customer Service
Value (customer)
Multi-Channel Retailing
23. An unincorporated retail firm owned by one person
Case Display
Neighborhood Shopping Center
Sole Proprietorship
Option Credit Account
24. A retailer carries more items than expects to sell over a specified period
Motives
Open Credit Account
Basic Stock Method
Model Stock Approach
25. Mazur plan derivative in which buying is centralized and branches become sales units with equal operational status
Objectives
Equal Store Organization
Retail Strategy
Category Killer
26. The amount a retailer pays to acquire the merchandise sold during a given time period. it is based on purchase prices and freight charges - less all discounts
Combination Store
LIFO (last-in-first-out) Method
Goods/Service Category
Cost of Goods Sold
27. Available from sources outside the firm
Performance Measures
External Secondary Data
Width of Assortment
Liabilities
28. A type of retail institution which involves a contractual arrangement between a franchisor (a manufacturer - wholesales or service sponsor) and a retail franchisee - which allows the franchisee to conduct business under an established name and accord
Franchising
Sole Proprietorship
Non-probability Sample
Basic Stock List
29. Analyzes a firm's performance in one area of the strategy mix or operations - such as the credit function - customer service - merchandise assortment - or interior display
Observation
Vertical Retail Audit
Straight (Gridiron) Traffic Flow
Evaluation of Alternatives
30. Whereby retailers - at their sole discretion - make deductions in their bills for infractions - ranging from late shipments to damages and expired goods
Survey
Value Delivery System
Chargebacks
Computerized Checkout
31. Appeals to price-conscious consumers - who must be members to shop there
Bait-and-Switch Advertising
Membership (Warehouse) Club
Personal Selling
Visual Merchandising
32. Programs to combine a high degree of centralized management control with strict operating procedures for every phase of the business
Open Credit Account
Canned Sales Presentation
Electronic Banking
Rationalized Retailing
33. Competition between manufacturers and retailers for shelf space and profits
Membership (Warehouse) Club
Revolving Credit Account
Huff's Law of Shopper Attraction
Battle of the Brands
34. Provides shoppers with information - adds to store atmospere and serves substantial promotional role
Traditional Job Description
Huff's Law of Shopper Attraction
Point-of-Purchase Display
Image
35. 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
Objective-and-Task Method
Convenience Store
Pre-Training
Efficient Consumer Response (ECR)
36. Typically supervises the on-floor selling and operational activities for a specific retail department
Odd Pricing
Differentiated Marketing
Consignment Purchase
Sales Manager
37. Whereby the purchase price is immediately deducted from a consumer's bank account and entered into a retailer's account through a computer terminal
Reference Groups
Private (dealer) Brands
Rationalized Retailing
Debit Card System
38. Merchandise that generates high sales over a short time
Regression Model
Fad Merchandise
Nongoods Services
Purchase Motivation Product Groupings
39. Projections of expected retail sales for given periods
Top-Down Space Management Approach
Cost of Method Accounting
Forecasts
Straight (Gridiron) Traffic Flow
40. A retailers starts with its total available store space - divides the space into categories - and then works on product layouts
Functional Product Groupings
Top-Down Space Management Approach
Traditional Job Description
Price Lining
41. The aspects of business to which a retailers must adapt
Family Life Cycle
Opportunities
Uncontrollable Variables
Memorandum Purchase
42. Whereby goods owned by consumers are repaired - improved - or maintained
Primary Trading Area
Traditional Department Store
String
Owned-Goods Services
43. A group of retailers gets together to make quantity purchases from supplier and obtain volume discounts
Cooperative Buying
Electronic Article Surveillance
Benchmarking
Survey
44. Converts shopping from a passive activity into a more interactive one - by better engaging customers
Cross-Shopping
Experiential Merchandising
Gap Analysis
Bait-and-Switch Advertising
45. When information is amassed on each job's functions and requirements: duties - responsibilities - aptitude - interest - education - experience - and physical tasks
Experiment
Image
Job Analysis
RFID (radio frequency identification)
46. An unplanned shopping area that appeals to the convenience shopping and service needs of a single residential area
Routine Decision Making
Neighborhood Business District
Horizontal Cooperative Advertising Agreement
Control Units
47. When ending inventory - recorded at cost - is measured by counting the merchandise in stock at the end of a selling period
Physical Inventory System
Ease of Entry
Point-of-Purchase Display
Public Relations
48. Bars manufacturers and wholesalers from discriminating in price or purchase terms in selling to individual retailers if these retailers are purchasing products of "like quality" and the effect of such discrimination is to injure competition
Recruitment
Robinson-Patman Act
Micromerchandising
Video Kiosk
49. Handles an assortment of inexpensive and popularly prices goods and services - such as apparel and accessories - costume jewelry - notions and small wares - candy - toys - and other items in the price range
Secondary Data
RFID (radio frequency identification)
Variety Store
Hierarchy of Authority
50. Consists of all the levels of independently owned businesses along a channel of distribution
Vertical Marketing System
Basic Stock List
Data-Base Management
Taxes