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. Whereby workers have the discretion to do what they believe is necessary - within reason - to satisfy the customer even if it means bending the rules
Cost-Oriented Pricing
Employee Empowerment
Balanced Tenancy
Dead Areas
2. Larger and more diversified than a conventional supermarket but usually smaller and less diversified than a combination store
Food-Based Superstore
Resident Buying Office
Horizontal Price Fixing
Feedback
3. Exhibits heavier - bulkier items than a rack holds
Case Display
Purchase Motivation Product Groupings
Marketing Research In Retailing
Want Book (Want Slip)
4. Factors having a high relationship with job success are given more weight than others
Secondary Data
Basic Stock List
Social Class
Weighted Application Blank
5. Merchandise that generates high sales over a short time
Mazur Plan
Fad Merchandise
Micromerchandising
Specialog
6. The difference between planned purchases and the purchase commitments already made by a buyer for a given period - often a month
Extended Decision Making
Consumer Loyalty (Frequent Shopper) Programs
Odd Pricing
Open-to-Buy
7. Based on the actual prices received for merchandise sold during a time period less merchandise cost
Corporation
Central Business District
Target Marketing
Maintained Markup
8. Selection process of one opinion from others. a person determines the criteria to evaluate and their importance before buying
Reverse Logistics
Neighborhood Shopping Center
Cost of Goods Sold
Evaluation of Alternatives
9. A format whereby multiple outlets conform to relatively uniform construction - layout and operations standards
Prototype Stores
Destination Retailer
Marketing Research In Retailing
Customer Service
10. Includes both personal contact with consumers in their homes and phone solicitations initiated by a retailer
Flea Market
Productivity
Direct Selling
Fad Merchandise
11. The level of risk a consumer believes exists regarding the purchase of a specific good or service from a given retailer
Retail Life Cycle
Nongoods Services
Perceived Risk
External Secondary Data
12. One way to access information on the Internet - whereby people work with easy-to-use Web addresses and pages
World Wide Web
Net Worth
Factory Outlet
Micromerchandising
13. Retailers hire people to pose as customers and observe their operations - from sales presentations to how well displays are maintained to service calls
Mystery Shoppers
Controllable Variables
HRM Process
Nongoods Services
14. Available within the company - sometimes from the data bank of a retail information system
Internal Secondary Data
Cognitive Dissonance
Retail Life Cycle
Channel of Distribution
15. 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
PMs (Promotional or Push Monies)
Central Business District
Mass Merchandising
16. Whereby the retailer sets standards and measures its performance based on the achievements of its sector of retailing - specific competitors - high-performance firms - and/or the prior actions of the firm itself
Benchmarking
Electronic Point of Sale System
Battle of the Brands
Loss Leaders
17. Consists of apparel - furniture - autos - and other products for which the retailer must carry a variety of products in order to give customers a proper selection
Prototype Stores
Business Format Franchising
Assortment Merchandise
Retail Strategy
18. Whereby suppliers make agreements with one or a few retailers that designate the latter as the only ones in specified geographic areas to carry certain brands or products
Prestige Pricing
Exclusive Distribution
Secondary Business District (SBD)
Width of Assortment
19. An unincorporated retail firm owned by one person
Benchmarking
Initial Markup
Ethics
Sole Proprietorship
20. Determines the floor space necessary to carry and display a proper merchandise assortment
Model Stock Approach
Lifestyles
Sales-Productivity Ratio
Issue (problem) Definition
21. Whereby copies of all the data bases in a firm are maintained in one location and are accessible to employees at any locale
Data Warehousing
Leader Pricing
Competitive Parity Method
Factory Outlet
22. 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
Purchase Act
Pre-Training
Reilly's Law of Retailing Gravitation
Value (customer)
23. When a retailer acts in a trustworthy - fair - honest - and respectful manner with each of its constituencies
Chargebacks
Rack Display
Ethics
Objectives
24. The difference between net sales and the cost of goods sold; it consists of operating expenses plus net profit
Pre-Training
Dump Bin
Gross Profit (margin)
Social Responsibility
25. Any communication by a retailer that informs - persuades - and/or reminds the target market about any aspect of that firm
Service Retailing
Ethics
Job Motivation
Retail Promotion
26. The cost to the retailer of each item recorded on an accounting sheet and/or is coded on a price tag or merchandise container
Fashion Merchandise
String
Cost of Method Accounting
Sales Manager
27. Closing inventory value is determined by calculating the average relationship between the cost and retail values of merchandise available for sale during a period
PMs (Promotional or Push Monies)
Retail Method of Accounting
Incremental Budgeting
Variable Pricing
28. Exists when a person regularly patronizes a particular retailer that he or she knows - likes - and trusts
Customer Loyalty
Classification Merchandising
Monthly Sales Index
Assortment Display
29. Arise when consumers buy products and/or brands they had not planned on buying before entering a store - reading a mail-order catalog - seeing a TV shopping show - turning to the Web and so forth
Retailing
Impulse Purchases
Atmosphere (atmospherics)
Want Book (Want Slip)
30. A review takes place in which the strategy and tactics are assessed against the business mission - objectives and target market
Price Lining
Control
Bait-and-Switch Advertising
Target Marketing
31. Uses a series of mathematical equations showing the association between potential store sales and several independent variables at each location
Direct Selling
Regression Model
Class Consciousness
Seasonal Merchandise
32. Assigns floor space on the basis of sales or profit per foot
Net Profit After Taxes
Monthly Sales Index
Model Stock Approach
Sales-Productivity Ratio
33. Retailers price selected items below cost to lure more customer traffic for those retailers
Competitive Parity Method
Objectives
Geographical Information System
Loss Leaders
34. Where a customer charges items and is billed monthly on the basis of outstanding cumulative balance
Attitudes (Opinions)
Want Book (Want Slip)
External Secondary Data
Revolving Credit Account
35. Attracts independents because of low capital requirements and relatively simple licensing provisions for many small retail firms. leads to intense competition
Ease of Entry
Nonstore Retailing
Automatic Reordering System
Nongoods Services
36. A retailer clearly defines its promotion goals and prepares a budget to satisfy them. determines the tasks and costs required to achieve that goal (best budgeting method)
Objective-and-Task Method
Need-Satisfaction Approach
Human Resource Management
Zero-Based Budgeting
37. Based on the principle that each customer has different wants; thus - a sales presentation should be geared to the demands of the individual customer
Multi-Channel Retailing
Off-Price Chain
Need-Satisfaction Approach
Assets
38. The selection of merchandise a retailer carries - includes both the breadth of product categories and the variety within each category
Assortment
Memorandum Purchase
Prestige Pricing
Operations Management
39. Displays merchandise by common end use
Training Programs
Functional Product Groupings
Percentage Variation Method
Sole Proprietorship
40. Consists of the regular products carried by a retailer
Training Programs
Product/Trademark Franchising
Control Units
Staple Merchandise
41. Places together various items that appeal to a given target market
Intensive Distribution
Market Segment Product Groupings
Customer Satisfaction
Internet
42. Increases an item's original price because demand is unexpectedly high or costs are rising
Public Relations
Net Sales
Additional Markup
Probability (Random) Sample
43. The line of business in which a retailer operates
Cost of Goods Sold
Goods/Service Category
FIFO (first-in-first-out) Method
Dollar Control
44. Whereby a retailer sells to consumers through multiple retails formats (points of contact)
Multi-Channel Retailing
Employee Empowerment
Business Format Franchising
Unit Control
45. Has a primarily functional use: to neatly hang or present products
Additional Markup
Rack Display
Sales Manager
Physical Inventory System
46. Mandates that persons with disabilities be given appropriate access to retailing facilities
Americans With Disabilities Act
Limited Decision Making
Financial Merchandise Management
Infomercial
47. Especially low prices are negotiated for merchandise whose sales have not lived up to expectations - end of season goods - items consumers have returned to the manufacturer or another retailer and closeouts
Public Relations
PMs (Promotional or Push Monies)
Want Book (Want Slip)
Opportunistic Buying
48. When manufacturers and wholesales seek to control the retail prices of their goods and services
Merchandising
String
Vertical Price Fixing
Inventory Shrinkage
49. Takes place when the consumer buys out of habit and skips steps in the purchase process
Word of Mouth (WOM)
Routine Decision Making
Frequency
Option Credit Account
50. A positioning approach whereby retailers offer a discount or value-oriented image - a wide and/or deep merchandise selection and large store facilities
Trading Area Overlap
Application Blank
Mass Merchandising
Net Profit After Taxes
Sorry!:) No result found.
Can you answer 50 questions in 15 minutes?
Let me suggest you:
Browse all subjects
Browse all tests
Most popular tests
Major Subjects
Tests & Exams
AP
CLEP
DSST
GRE
SAT
GMAT
Certifications
CISSP go to https://www.isc2.org/
PMP
ITIL
RHCE
MCTS
More...
IT Skills
Android Programming
Data Modeling
Objective C Programming
Basic Python Programming
Adobe Illustrator
More...
Business Skills
Advertising Techniques
Business Accounting Basics
Business Strategy
Human Resource Management
Marketing Basics
More...
Soft Skills
Body Language
People Skills
Public Speaking
Persuasion
Job Hunting And Resumes
More...
Vocabulary
GRE Vocab
SAT Vocab
TOEFL Essential Vocab
Basic English Words For All
Global Words You Should Know
Business English
More...
Languages
AP German Vocab
AP Latin Vocab
SAT Subject Test: French
Italian Survival
Norwegian Survival
More...
Engineering
Audio Engineering
Computer Science Engineering
Aerospace Engineering
Chemical Engineering
Structural Engineering
More...
Health Sciences
Basic Nursing Skills
Health Science Language Fundamentals
Veterinary Technology Medical Language
Cardiology
Clinical Surgery
More...
English
Grammar Fundamentals
Literary And Rhetorical Vocab
Elements Of Style Vocab
Introduction To English Major
Complete Advanced Sentences
Literature
Homonyms
More...
Math
Algebra Formulas
Basic Arithmetic: Measurements
Metric Conversions
Geometric Properties
Important Math Facts
Number Sense Vocab
Business Math
More...
Other Major Subjects
Science
Economics
History
Law
Performing-arts
Cooking
Logic & Reasoning
Trivia
Browse all subjects
Browse all tests
Most popular tests