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. Financial obligations a retailer incurs in operating a business






2. Distinctive heritage shared by a group of people that passes on a series of beliefs - norms and customs






3. Any item a retailer owns with monetary value






4. An open air shopping site that typically includes 150 -000 to 500 -000 square feet of space dedicated to upscale - well-known specialty stores






5. Payments that retailers require of vendors for providing shelf space






6. Whereby copies of all the data bases in a firm are maintained in one location and are accessible to employees at any locale






7. Whereby a retailer reduces the amount of inventory it holds by ordering more frequently and in lower quantity






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






9. The activity whereby a retailer generates a list of job applicants






10. Outlines a retailer's planned expenditures for a given time based on expected performance






11. Includes all the elements in retail offering that encourage or inhibit customers during their contact with a retailer






12. 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






13. Involve the combination of separately owned retail firms






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






15. An unincorporated retail firm owned by two or more persons - each with a financial interest






16. Involves a clear statement of the topic to be studied






17. A type of research in which one or more elements of a retail strategy mix are manipulated under controlled conditions






18. Determines the floor space necessary to carry and display a proper merchandise assortment






19. A formal way to record consumer requests for unstocked for out-of-stock merchandise






20. A retailer sets prices for goods and services and seeks to maintain them for an extended period






21. Refers to the stores physical characteristics that project an image and draw customers - a retailers signs - sounds - smalls and other physical attributes






22. There is more interactive relationship between a franchisor and a franchisee






23. The difference between net sales and the cost of goods sold; it consists of operating expenses plus net profit






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






25. A sequence of steps that consumers go through - which takes them from awareness to knowledge to liking to preference to conviction to purchase






26. Information is systematically gathered from respondents by communicating with them






27. Produces and controlled by manufacturers. they are usually well known and supported by manufacturer ads - somewhat pre-sold to consumers - require limited retailer involvement in marketing - and often represent maximum quality






28. Retailers price selected items below cost to lure more customer traffic for those retailers






29. Merchandise that generates high sales over a short time






30. When retailers count on suppliers to participate in their inventory management programs






31. Increases an item's original price because demand is unexpectedly high or costs are rising






32. Doubt that the correct decision has been made






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






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






35. Refers to items that are received at the store in condition to be put directly on display without any preparation by retail workers






36. The extent to which a person desires and pursues social status






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






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






39. Whereby a retailer sells to consumers through one retail format - may be store-bsed or non-store based






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






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






42. Zeroing in on one specific group






43. Begins planning at the individual product level and then proceeds to the category - total store - and overall company levels






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






45. Used to acquire more specific estimates - which divides each month's actual sales by average monthly sales and multiplies the results by 100






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






47. Whereby prices are marked only on shelves or signs and not on individual items






48. A form of multi-channel retailing which engages in more than one type of distribution arrangement






49. Retailers hire people to pose as customers and observe their operations - from sales presentations to how well displays are maintained to service calls






50. Customer orientation - coordinated effort - value driven and goal orientation







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