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
Employee Empowerment
Stock Turnover
Gross Margin
Fashion Merchandise
2. Determines the floor space necessary to carry and display a proper merchandise assortment
Specialog
Goal-Oriented Job Description
Model Stock Approach
Incremental Method
3. A sign that displays the store's name
Marquee
Service Retailing
Reverse Logistics
Prestige Pricing
4. The aspects of business to which a retailers must adapt
Inventory Shrinkage
Consumer Protection
Uncontrollable Variables
Social Responsibility
5. One member of the distribution channel dominates the decisions made in that channel due to the power it possesses
Product/Trademark Franchising
Channel Control
Objectives
Reverse Logistics
6. A retailers starts with its total available store space - divides the space into categories - and then works on product layouts
Top-Down Space Management Approach
Leased Department
Hierarchy of Effects
Maintained Markup
7. Assigns floor space on the basis of sales or profit per foot
Sales-Productivity Ratio
Initial Markup
Owned-Goods Services
Taxes
8. The total process of planning - implementing and coordinating the physical movement of merchandise from manufacturer (wholesaler) to retailer to customer in the most timely - effective and cost-efficient manner possible
Logistics
Specialog
Staple Merchandise
Outsourcing
9. A retailer sets prices for goods and services and seeks to maintain them for an extended period
Wheel of Retailing
Electronic Banking
Item Price Removal
Customary Pricing
10. A firm uses current and past budgets as guides and adds to or subtracts from them to arrive at the coming period's expenditures
Product/Trademark Franchising
Physical Inventory System
Incremental Budgeting
Assortment Display
11. When a retailer acts in the best interests of society - as well as itself
Maintained Markup
Social Responsibility
Convenience Store
Storability Product Groupings
12. The level of risk a consumer believes exists regarding the purchase of a specific good or service from a given retailer
Mass Marketing
Supermarket
Perceived Risk
Reference Groups
13. Whereby each department is subdivided into further categories for related types of merchandise
Net Profit After Taxes
Retail Information System
Classification Merchandising
Liabilities
14. Whereby intangible personal services are offered to consumers who then experience the services rather than possess them
Regression Model
Basic Stock List
Nongoods Services
Objectives
15. Anticipates the information needs of retail managers; collects - organizes - and stores relevant data on a continuous basis; and directs the flow of information to the proper decision makers
Staple Merchandise
Point-of-Purchase Display
Hierarchy of Authority
Retail Information System
16. Consists of all the levels of independently owned businesses along a channel of distribution
Operations Management
Membership (Warehouse) Club
Vertical Marketing System
Merchandise Available for Sale
17. The optimum site for a particular store
Forecasts
Electronic Article Surveillance
One-Hundred Percent Location
Vertical Cooperative Advertising Agreement
18. A retailer first allots funds for each element of the retail strategy mix except promotion. the remaining funds go to promotion (weakest strategy)
All-You-Can-Afford Method
Central Business District
Consumer Loyalty (Frequent Shopper) Programs
Factory Outlet
19. Exhibits heavier - bulkier items than a rack holds
Vending Machine
Reference Groups
Universal Product Code (UPC)
Case Display
20. A retailers ets prices by adding per-unit merchandise costs - retail operating expenses and desired profit
Job Analysis
Publicity
Markup Pricing
Experiment
21. Consumers view the company as distinctive enough to become loyal to it and go out of their way to shop there
Destination Retailer
Membership (Warehouse) Club
Partnership
Department Store
22. Whereby suppliers sell through as many retailers as possible
Dollar Control
Diversified Retailer
Intensive Distribution
Consumer Loyalty (Frequent Shopper) Programs
23. The basic format or structure of a business
Experiential Merchandising
Retail Institution
Frequency
HRM Process
24. Provides shoppers with information - adds to store atmospere and serves substantial promotional role
Geographical Information System
Point-of-Purchase Display
Factory Outlet
Straight (Gridiron) Traffic Flow
25. Systematically lists all operating functions to be performed - their characteristics - and their timing
Seasonal Merchandise
Operations Blueprint
Product/Trademark Franchising
Economic Base
26. Beginning-of-month planned inventory during any month differs from planned average monthly stock by only one-half of that month's variation from estimated average monthly sales [equation]
Electronic Banking
Target Marketing
Percentage Variation Method
Sorting Process
27. The form of research in which present behavior or the results of past behavior are noted and recorded
Downsizing
Predatory Pricing
Product Life Cycle
Observation
28. Ways in which individual consumers and families live and spend time and money
Personality
Dump Bin
Lifestyles
Point-of-Purchase Display
29. Merchandise that generates high sales over a short time
Percentage Lease
Generic Brands
Fad Merchandise
Logistics
30. Uses a series of mathematical equations showing the association between potential store sales and several independent variables at each location
Regression Model
Competitive Parity Method
Basic Stock List
Limited Decision Making
31. A firm starts each new budget from scratch and outlines the expenditures needed to reach the periods goals
Direct Store Distribution (DSD)
Vertical Price Fixing
Central Business District
Zero-Based Budgeting
32. Involves the activities of government - businesses - and other organizations to protect people from practices infringing upon their rights as consumers
Consumer Protection
Stimulus
Point-of-Purchase Display
Gross Margin
33. Traditional means of trading-area delineation. establishes a point of indifference between two cities or communities - so the trading area of each can be determined - more consumers go to the larger city/community because there are more stores and wo
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
34. Encompasses all merchandise flows from a customer and or the retailers back through the supply channel
Reverse Logistics
Price Lining
Private (dealer) Brands
Supercenter
35. Encompasses 50 to 80 percent of a store's customers; the area closest to he store and possesses the highest density of customers to population and the highest per capita sales
Reach
Channel Control
Primary Trading Area
Full-Line Discount Store
36. A catalog in which a retailer caters to a particular customer segment - emphasizes a limited number of items - and reduces production and postage costs
Variable Pricing
Nongoods Services
Specialog
Case Display
37. Unites supermarket and general merchandise in one facility - with general merchandise accounting for 25 to 40% of sales
Combination Store
Merchandising
Benchmarking
Logistics
38. 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
Multi-Channel Retailing
Cost of Goods Sold
Partnership
Universal Product Code (UPC)
39. A method of storing and remotely retrieving data using devices called RFID tags or trandponders
RFID (radio frequency identification)
Internal Secondary Data
Bait-and-Switch Advertising
Retailing
40. The average number of times each person reached is exposed to a retailers promotion efforts in a specific period
Vertical Price Fixing
Goods/Service Category
Feedback
Frequency
41. Sets the guiding principles for all the merchandise decisions a retailers makes
Regional Shopping Center
Merchandising Philosophy
Data Warehousing
Weeks' Supply Method
42. Refers to the stores physical characteristics that project an image and draw customers - a retailers signs - sounds - smalls and other physical attributes
Vertical Cooperative Advertising Agreement
Atmosphere (atmospherics)
Job Analysis
Secondary Data
43. A version of customary pricing in which a retailer strives to sell goods and services at consistently low prices throughout the selling season
Zero-Based Budgeting
PMs (Promotional or Push Monies)
Ethics
Everyday Low Pricing (EDLP)
44. Feature brand-name apparel and accessories - footwear - linens - fabrics - cosmetics - and/or housewares and sells them at everyday low prices in an efficient - limited-service environment
Off-Price Chain
Prestige Pricing
Ethics
Financial Merchandise Management
45. Retailers hire people to pose as customers and observe their operations - from sales presentations to how well displays are maintained to service calls
Net Lease
Atmosphere (atmospherics)
Public Relations
Mystery Shoppers
46. Consumers feel high prices connote high quality and low prices connote low quality
Price-Quality Association
Atmosphere (atmospherics)
Application Blank
Constrained Decision Making
47. Consists of products that sell well over nonconsecutive time periods
Inventory Shrinkage
Seasonal Merchandise
Assortment
PMs (Promotional or Push Monies)
48. 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
Reilly's Law of Retailing Gravitation
Inventory Management
Zero-Based Budgeting
Assortment Merchandise
49. Divides all retail activities into four functional areas - merchandising - publicity - store management - and accounting and control
String
Dump Bin
Strategy Mix
Mazur Plan
50. Occurs when a retailers adds goods and services that may be unrelated to each other and to the firm's original business
Category Killer
Variable Markup Policy
Scrambled Merchandising
Routine Decision Making