Test your basic knowledge |

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. Based on the original retail value assigned to merchandise less the costs of the merchandise






2. Many retail vendors sell a range of products at discount prices in plain surroundings






3. A firm uses current and past budgets as guides and adds to or subtracts from them to arrive at the coming period's expenditures






4. A visual (graphical) representation of the space for selling - merchandise - personnel and customers - as well as for product categories which lays out the in-store placement






5. Merchandise that generates high sales over a short time






6. 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






7. Direct monetary payments (salaries - commissions - and bonuses) and indirect payments (paid vacations - health and life insurance - and retirement plans) should be fair to both the retailer and its employees






8. A retailers commitment to a type of business and to a distinctive role in the marketplace






9. Shipping goods right from suppliers to individual stores. workds best with retailers who utilize EDI






10. The mix of stores within a district or shopping center






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






12. Represents how a given retailer is perceived by consumers and others






13. Any item a retailer owns with monetary value






14. Software which combines digitized mapping with key locational data to graphically depict trading-area characteristics such as population demographics; data on consumer purchases; and listings of current - proposed and competitor locations






15. Lets consumers bargain over prices; those who are good at it obtain lower prices






16. When a retailer gathers - integrates - applies - and stores information related to specific subject areas






17. Large retailers seek to reduce competition by selling goods and services at very low prices - thus causing small retailers to go out of business






18. Graphically displays its hierarchical relationships created by a retailer






19. Available within the company - sometimes from the data bank of a retail information system






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






21. Larger and more diversified than a conventional supermarket but usually smaller and less diversified than a combination store






22. A retailers carries complementary goods and services to encourage shoppers to buy more






23. A merchandising technique that some firms use to improve productivity






24. The total physical exterior of the store itself - marquee - entrances - windows - lighting - and construction materials






25. Any communication by a retailer that informs - persuades - and/or reminds the target market about any aspect of that firm






26. A global electronic superhighway of computer networks that use a common protocol and that are linked by telecommunication lines and satellite






27. Used to determine the amount of merchandise to purchase for resale. the goal is to purchase enough of these procuts so they are always in stock






28. Whereby the retailer uses differentiated marketing and develops focused retail strategy mixes for specific customer segments - sometimes fine tuned for the individual shopper






29. Embodied by a series of activities and processes that provides a certain value for the consumer






30. Occurs when the value and customer services provided through a retailing experience meet or exceed consumer expectations






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






32. Actively involved with informing and persuading customers in closing sales






33. A freestanding - interactive - electronic computer terminal that displays products and related information on a video screen






34. The line of business in which a retailer operates






35. The form of research in which present behavior or the results of past behavior are noted and recorded






36. Places together various items that appeal to a given target market






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






38. A catalog in which a retailer caters to a particular customer segment - emphasizes a limited number of items - and reduces production and postage costs






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






40. The cost of running a retail business






41. 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






42. Retailers and suppliers regularly exchange information through their computers with regard to inventory levels - delivery times - unit sales and so on of a particular item






43. Aiming at two or more distinct consumer groups - with different retailing approaches for each group






44. 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)






45. Focuses on the sale of tangible phoducts






46. Zeroing in on one specific group






47. Forecasts average sales weekly - so beginning inventory equals several weeks expected sales

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


48. The sum total of an individuals traits - which make that individual unique






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






50. One member of the distribution channel dominates the decisions made in that channel due to the power it possesses







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

Browse all subjects

Browse all tests

Most popular tests