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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. Occurs when a retailers adds goods and services that may be unrelated to each other and to the firm's original business






2. A retailer's promotion budget is raised or lowered based on competitors actions; if the leading competitor raises its budget - other retailers in the area may follow






3. A consumer may engage in behavior after purchasing a product that falls into two categories: further purchases or re-evaluation






4. Encompasses all merchandise flows from a customer and or the retailers back through the supply channel






5. A retailers has no risk because title is not taken; the supplier owns the goods until sold






6. Avoids the problems of infrequent financial alaysis by keeping a running total of the value of all inventory on hand at cost at a given time






7. Calls for precise rent increases over a stated period of time






8. The optimum site for a particular store






9. Appeals to the consumer's urge to buy product and the amount of time she or he is willing to spend on shopping






10. Appeals to price-conscious consumers - who must be members to shop there






11. The level of risk a consumer believes exists regarding the purchase of a specific good or service from a given retailer






12. Where a customer charges items and is billed monthly on the basis of outstanding cumulative balance






13. The cost of running a retail business






14. A listing of bipolar adjectives scales






15. Whereby retailers - at their sole discretion - make deductions in their bills for infractions - ranging from late shipments to damages and expired goods






16. The identifiable - but sometime intangible - activities undertaken by a retailer in conjunction with the basic goods and services it sells






17. Used for products needing special handling






18. A candid evaluation of the opportunities and threats facing a prospective or existing retailer






19. Permits supermarkets to incorporate aspects of quick response inventory planning - electronic data interchange - and logistics planning






20. The manner of providing a job environment that encourages employee accomplishment






21. Involves the activities of government - businesses - and other organizations to protect people from practices infringing upon their rights as consumers






22. Zeroing in on one specific group






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






24. Theory that retail innovators often first appear as low-price operators with low costs and low profit margin requirements






25. A cash or card operated retailing format that dispenses goods and services






26. A retailer sets its prices in accordance with competitors'






27. A retailer adjusts shelf-space allocations to respond to customer and other differences among local markets






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






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






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






31. When a retailer acts in the best interests of society - as well as itself






32. Products are marked with a series of thick and thin vertical lines - representing each item's identification code






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






34. Signals or cues as to the success or failure of that each part of the strategy






35. An unincorporated retail firm owned by one person






36. Specifies the inventory level - color - brand - style category - size - package - and so on for every staple item carried by the retailer






37. Based on the premise that people are drawn to stores that are closer and more attractive than competitor's stores






38. Aka power retailer - an especially large specialty store that features and enormous selection in its category at relatively low prices






39. When information is amassed on each job's functions and requirements: duties - responsibilities - aptitude - interest - education - experience - and physical tasks






40. A retailer charges the same price to all customers buying an item under similar conditions






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






42. 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






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






44. Retail prices are set at levels below even dollar values; the assumption is that people feel these prices represent discounts or that the amounts are beneath consumer price ceilings






45. Whereby a service retailer does not get paid until after the service is performed and payment is contingent on the service's being satisfactory






46. An unplanned shopping area that appeals to the convenience shopping and service needs of a single residential area






47. Stipulates that rent is related to sales or profits; protects a property owner against inflation and lets it benefit if a store is successful






48. The number of distinct people exposed to a retailers promotion efforts in a specific period






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






50. 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






Can you answer 50 questions in 15 minutes?



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