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. Merchandise quality ranges from average to quite good. pricing is moderate to above average. customer service ranges from medium levels of sales help - credit - delivery and so forth to high levels of each
Traditional Department Store
Leased Department
Variety Store
Mystery Shoppers
2. 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
Open Credit Account
Minimum-Price Laws
Cost of Goods Sold
Specialog
3. A retail firm that is formally incorporated under state law
Public Relations
Americans With Disabilities Act
Factory Outlet
Corporation
4. Entails the collection and analysis of information relating to specific issues or problems facing a retailer
Job Analysis
Open Credit Account
Marketing Research In Retailing
Forecasts
5. Laws whereby some retailers must express both the total price of an item and its price per unit of measure
Seasonal Merchandise
Control
Rack Display
Unit Pricing
6. Stores - product - or customers are chosen by the researcher - based on judgement or convenience
Non-probability Sample
Taxes
Option Credit Account
Retail Promotion
7. A positioning approach whereby retailers offer a discount or value-oriented image - a wide and/or deep merchandise selection and large store facilities
Nonstore Retailing
Mass Merchandising
Micromarketing
Reverse Logistics
8. Mandates that persons with disabilities be given appropriate access to retailing facilities
Stimulus
Productivity
Opportunity Costs
Americans With Disabilities Act
9. Enumerates basic functions - the relationship of each job to overall goals - the interdependence of positions and information flows
Unit Control
Performance Measures
Customer Service
Goal-Oriented Job Description
10. Consists of all the levels of independently owned businesses along a channel of distribution
Vertical Marketing System
Demographics
Supermarket
String
11. Performs all of the tasks of a computerized checkout and verifies check and charge transactions - provides instantaneous sales reports - monitors and changes prices - sends intra- and inter- store messages - evaluates personnel and profitability and
Maintained Markup
Positioning
Electronic Point of Sale System
Channel of Distribution
12. Involves planning and monitoring a retailer's financial investment in merchandise over a stated period
Single-Channel Retailing
Consumer Loyalty (Frequent Shopper) Programs
Dollar Control
Wheel of Retailing
13. Money left after paying taxes and buying necessities
Objective-and-Task Method
Social Class
Discretionary income
Chargebacks
14. Suppliers sell through a moderate number of retailers
Retailing Concept
Membership (Warehouse) Club
Selective Distribution
Specialty Store
15. The revenues received by a retailer during a given period after deducting customer returns - markdowns - and employee discounts
Compensation
Net Sales
Nongoods Services
Customer Loyalty
16. Describes how traditional family moves from bachelorhood to children to solitary retirement
Family Life Cycle
Percentage-of-Sales Method
Cost of Goods Sold
Micromarketing
17. Appeals to price-conscious consumers - who must be members to shop there
Neighborhood Shopping Center
Membership (Warehouse) Club
Non-probability Sample
Net Lease
18. A retailer offers discounts to customers who buy in quantity or who buy a product bundle
Physical Inventory System
Department Store
Gross Profit (margin)
Multiple-Unit Pricing
19. Beginning inventory - purchases - and transportation charges equal the cost of this
Quick Response (QR) Inventory Planning
Merchandise Available for Sale
Non-probability Sample
Employee Empowerment
20. A form of multi-channel retailing which engages in more than one type of distribution arrangement
Gross Profit (margin)
Data-Base Management
Rationalized Retailing
Dual Marketing
21. The service level that customers want to receive from any retailer - such as basic employee courtesy
Diversification
Convenience Store
Retail Life Cycle
Expected Customer Service
22. When retailers count on suppliers to participate in their inventory management programs
Open Credit Account
Logistics
Vertical Cooperative Advertising Agreement
Vendor-Managed Inventory (VMI)
23. The efficient and effective implementation of the policies and tasks necessary to satisfy the firm's customers - employees - and management
Loss Leaders
Consumer Behavior
Operations Management
Neighborhood Business District
24. Projections of expected retail sales for given periods
Total Retail Experience
Reorder Point
Marquee
Forecasts
25. A manufacturer and a retailer or a wholesales and a retailer share an ad
Percentage Lease
Electronic Data Interchange (EDI)
Vertical Cooperative Advertising Agreement
Mazur Plan
26. The overall plan or framework of action that guides a retailer
Perceived Risk
Retail Strategy
Multi-Channel Retailing
Human Resource Management
27. Attracts independents because of low capital requirements and relatively simple licensing provisions for many small retail firms. leads to intense competition
Percentage-of-Sales Method
Ease of Entry
Value (retailer)
Hierarchy of Effects
28. Represents the total bundle of benefits offered to consumers through a channel of distribution
Human Resource Management
Value Chain
Direct Marketing
Universal Product Code (UPC)
29. A retailer sets prices for goods and services and seeks to maintain them for an extended period
Internet
Debit Card System
Customary Pricing
Ensemble Display
30. Whereby a retailer reduces the amount of inventory it holds by ordering more frequently and in lower quantity
Specialog
Quick Response (QR) Inventory Planning
Regression Model
Impulse Purchases
31. Involves a clear statement of the topic to be studied
Issue (problem) Definition
FIFO (first-in-first-out) Method
Financial Merchandise Management
Bifurcated Retailing
32. The form of research in which present behavior or the results of past behavior are noted and recorded
Observation
Opportunity Costs
Purchase Motivation Product Groupings
Customer Service
33. Occurs when the value and customer services provided through a retailing experience meet or exceed consumer expectations
One-Hundred Percent Location
Canned Sales Presentation
Customer Satisfaction
Net Profit After Taxes
34. Out-of-hometown shopping - is important for both local and surrounding retailers
Cognitive Dissonance
Outshopping
Chain
Affinity
35. 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
Liabilities
Video Kiosk
Percentage Variation Method
36. A retailers commitment to a type of business and to a distinctive role in the marketplace
Department Store
Percentage-of-Sales Method
Value Delivery System
Organizational Mission
37. The criteria used to assess effectiveness
Personality
Class Consciousness
Destination Retailer
Performance Measures
38. A shopping site with (1) up to a half-dozen or so category killer stores and a mix of smaller stores and (2) several complementary stores specializing in one product category
Power Center
Purchase Act
Non-probability Sample
Stimulus
39. An open air shopping site that typically includes 150 -000 to 500 -000 square feet of space dedicated to upscale - well-known specialty stores
Reilly's Law of Retailing Gravitation
Ease of Entry
Lifestyle Center
Assortment Display
40. 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
Extended Decision Making
Opportunity Costs
Employee Empowerment
Cost of Goods Sold
41. Consists of products that sell well over nonconsecutive time periods
Culture
Seasonal Merchandise
Fashion Merchandise
Retail Method of Accounting
42. One member of the distribution channel dominates the decisions made in that channel due to the power it possesses
Combination Store
Channel Control
Reilly's Law of Retailing Gravitation
Percentage-of-Sales Method
43. A global electronic superhighway of computer networks that use a common protocol and that are linked by telecommunication lines and satellite
Floor-Ready Merchandise
Internet
Cross-Merchandising
Experiential Merchandising
44. A retailer advertises and sells selected items in its goods/service assortment at less than the usual profit margins. goal is to increase customer traffic for the retailer so that it can sell other regularly prices goods
Electronic Point of Sale System
Never-Out List
Leader Pricing
Merchandise Available for Sale
45. 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
Revolving Credit Account
Monthly Sales Index
Impulse Purchases
Gross Profit (margin)
46. An unplanned shopping area compromising of group retail stores - often with similar or compatible product lines - located along a street or highway
String
Destination Retailer
Data Warehousing
Channel of Distribution
47. Includes all the elements in retail offering that encourage or inhibit customers during their contact with a retailer
Customer Loyalty
Mergers
Taxes
Total Retail Experience
48. Consists of the regular products carried by a retailer
Sales-Productivity Ratio
Assortment Merchandise
Staple Merchandise
Logistics
49. Exhibits heavier - bulkier items than a rack holds
Service Retailing
Case Display
Vertical Price Fixing
Manufacturer (national) Brands
50. Concept that states that retail institutions - like the goods and services they sell - pass through identifiable life stages: introduction - growth - maturity and decline
Percentage-of-Sales Method
Observation
Visual Merchandising
Retail Life Cycle