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. A firm structures and assigns tasks - policies - resources - authority - responsibilities - and rewards to efficiently and effectively satisfy the needs of its target market - employees and management
Retail Organization
HRM Process
Visual Merchandising
Augmented Customer Service
2. Retailers become active in businesses outside their normal operations - and add stores in different goods/service categories
Impulse Purchases
Diversification
Quick Response (QR) Inventory Planning
Hierarchy of Authority
3. Factors having a high relationship with job success are given more weight than others
Retail Audit
Business Format Franchising
Weighted Application Blank
Automatic Reordering System
4. Whereby consumers lease and use goods for specified periods of time
Cost-Oriented Pricing
Experiential Merchandising
Rented-Goods Services
Fringe Trading Area
5. Short-term selling and administrative costs in running a business
Vending Machine
Operating Expenditures
Never-Out List
Demand-Oriented Pricing
6. The difference between net sales and the cost of goods sold; it consists of operating expenses plus net profit
Gross Profit (margin)
Service Retailing
Massed Promotion Effort
One-Hundred Percent Location
7. Doubt that the correct decision has been made
Cognitive Dissonance
Operating Expenditures
Corporation
Sales Manager
8. A type of experiment whereby a computer program is used to manipulate the elements of a retail strategy mix rather than test them in a real setting
Simulation
Cooperative Advertising
Competition-Oriented Pricing
Supermarket
9. Merchandise that generates high sales over a short time
Revolving Credit Account
Nonstore Retailing
Generic Brands
Fad Merchandise
10. Includes all the elements in retail offering that encourage or inhibit customers during their contact with a retailer
Lifestyles
Graduated Lease
Diversified Retailer
Total Retail Experience
11. Risk is still low - but a retailer takes title on delivery and is responsible for damages
Robinson-Patman Act
Price-Quality Association
Memorandum Purchase
Advertising
12. Converts shopping from a passive activity into a more interactive one - by better engaging customers
Full-Line Discount Store
Reilly's Law of Retailing Gravitation
Experiential Merchandising
Video Kiosk
13. Whereby retailers - at their sole discretion - make deductions in their bills for infractions - ranging from late shipments to damages and expired goods
Diversification
Rented-Goods Services
Chargebacks
Net Sales
14. 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
Net Profit After Taxes
Scenario Analysis
Hidden Assets
Word of Mouth (WOM)
15. Influence people's thought and behavior such as families - aspirational groups and membership groups
Goods Retailing
Reference Groups
Retailing Concept
Storability Product Groupings
16. Attracts independents because of low capital requirements and relatively simple licensing provisions for many small retail firms. leads to intense competition
Nonstore Retailing
Benchmarking
Revolving Credit Account
Ease of Entry
17. Objective - quantifiable - easily identifiable and measurable population data
Demographics
Retail Strategy
Full-Line Discount Store
Differentiated Marketing
18. Information is systematically gathered from respondents by communicating with them
Survey
Competition-Oriented Pricing
Video Kiosk
Prestige Pricing
19. Enumerates basic functions - the relationship of each job to overall goals - the interdependence of positions and information flows
Sorting Process
Electronic Banking
Goal-Oriented Job Description
Channel Control
20. An unincorporated retail firm owned by two or more persons - each with a financial interest
Manufacturer (national) Brands
Partnership
Visual Merchandising
Merchandising
21. A retailer sets prices based on consumer desires; at the top is the demand ceiling - the most that people will pay for a good/service
Net Worth
Demand-Oriented Pricing
Value (customer)
Additional Markup
22. Stipulates that rent is related to sales or profits; protects a property owner against inflation and lets it benefit if a store is successful
Assortment
Equal Store Organization
Percentage Lease
Value Delivery System
23. 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
24. An unplanned shopping area in a city or town that is usually bounded by the intersection of two major streets
Impulse Purchases
Expected Customer Service
Trading Area Overlap
Secondary Business District (SBD)
25. The long-run and short-run performance targets a retailers hopes to attain
Objectives
Vertical Retail Audit
Horizontal Cooperative Advertising Agreement
Downsizing
26. Sets the guiding principles for all the merchandise decisions a retailers makes
Budgeting
Merchandising Philosophy
Objectives
Liabilities
27. Acquires and maintains a proper merchandise assortment while ordering - shopping - handling - storing - displaying and selling costs are kept in check
Fringe Trading Area
Inventory Management
Benchmarking
Traditional Job Description
28. Determines the floor space necessary to carry and display a proper merchandise assortment
Retail Organization
Model Stock Approach
Image
Household Life Cycle
29. Customer orientation - coordinated effort - value driven and goal orientation
Manufacturer (national) Brands
Retailing Concept
Physical Inventory System
Wheel of Retailing
30. Prevent retailers from selling certain items for less than their cost plus a fixed percentage to cover overhead
Minimum-Price Laws
Flexible Pricing
Prototype Stores
Trading Area Overlap
31. The line of business in which a retailer operates
LIFO (last-in-first-out) Method
Goods/Service Category
Debit Card System
Franchising
32. 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
Conventional Supermarket
Experiential Merchandising
Flexible Pricing
Impulse Purchases
33. Places together various items that appeal to a given target market
Manufacturer (national) Brands
Operating Expenditures
Market Segment Product Groupings
Business Format Franchising
34. Exhibits a wide range or merchandise encouraging the customer to feel - look at and/or try on products
Assortment Display
Channel Control
Horizontal Retail Audit
Wheel of Retailing
35. A retailer sets prices for goods and services and seeks to maintain them for an extended period
Culture
Operating Expenses
Battle of the Brands
Customary Pricing
36. Closing inventory value is determined by calculating the average relationship between the cost and retail values of merchandise available for sale during a period
Efficient Consumer Response (ECR)
Diversified Retailer
Retail Method of Accounting
Consumer Decision Process
37. A food-based discounter offering a moderate number of food items in a no-frills setting
Scenario Analysis
Warehouse Store
Vertical Marketing System
Department Store
38. Assigns floor space on the basis of sales or profit per foot
Training Programs
Scenario Analysis
Vending Machine
Sales-Productivity Ratio
39. Represents how a given retailer is perceived by consumers and others
Cooperative Buying
Revolving Credit Account
Logistics
Image
40. A way to collect - store and use relevant information about customers
Prestige Pricing
Productivity
Planogram
Data-Base Retailing
41. A manufacturer may sometimes help fund personal selling in addition to regular salesperson compensation
Sorting Process
PMs (Promotional or Push Monies)
Consumer Protection
Percentage Lease
42. Whereby a retailer sells to consumers through one retail format - may be store-bsed or non-store based
Reorder Point
Efficient Consumer Response (ECR)
Prototype Stores
Single-Channel Retailing
43. Used by both large and small retailers so they can efficiently process transactions and monitor inventory
Initial Markup
Computerized Checkout
Demographics
Stimulus
44. Whereby copies of all the data bases in a firm are maintained in one location and are accessible to employees at any locale
Depth of Assortment
Retail Method of Accounting
Data Warehousing
Direct Product Profitability (DPP)
45. Whereby special tags are attached to products so that the tags can be sensed by electronic security devices at store exits
Electronic Article Surveillance
Control Units
Retail Audit
Electronic Banking
46. Aiming at two or more distinct consumer groups - with different retailing approaches for each group
Personality
Specialty Store
Differentiated Marketing
Productivity
47. An open air shopping site that typically includes 150 -000 to 500 -000 square feet of space dedicated to upscale - well-known specialty stores
Reference Groups
Analog Model
Prestige Pricing
Lifestyle Center
48. 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
Publicity
Markup Pricing
Chargebacks
Core Customers
49. Stores - product - or customers are chosen by the researcher - based on judgement or convenience
Vertical Retail Audit
Non-probability Sample
Attitudes (Opinions)
Information Search
50. A retailers starts with its total available store space - divides the space into categories - and then works on product layouts
Social Class
Loss Leaders
Ease of Entry
Top-Down Space Management Approach
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