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






2. A listing of bipolar adjectives scales






3. Where consumers shop for a product category at more than one retail format during the year OR visit multiple retailers on one shopping trip






4. The overall plan or framework of action that guides a retailer






5. Analyzes a firm's overall performance - from the organizational mission to goals to customer satisfaction to the basic retail strategy mix and its implementation in an integrated - consistent way






6. Whereby a retailers sells to consumers through multiple retail formats






7. A retailer offers discounts to customers who buy in quantity or who buy a product bundle






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






9. Provides shoppers with information - adds to store atmospere and serves substantial promotional role






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






11. A food-based discounter offering a moderate number of food items in a no-frills setting






12. Sets the guiding principles for all the merchandise decisions a retailers makes






13. Avoids the problems of infrequent financial alaysis by keeping a running total of the value of all inventory on hand at cost at a given time






14. Laws whereby some retailers must express both the total price of an item and its price per unit of measure






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






16. Stores - product - or customers are chosen by the researcher - based on judgement or convenience






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






18. A self-service food store with grocery - meat - and produce departments and minimum annual sales of $2 million






19. The business activities involved in selling goods and services to consumers for their personal - family - or household use






20. An unplanned shopping area that appeals to the convenience shopping and service needs of a single residential area






21. A format whereby multiple outlets conform to relatively uniform construction - layout and operations standards






22. Paid - nonpersonal communication transmitted through out-of-store mass media by an ideantified sponsor






23. Every store - product - or customer has an equal or known chance of being chosen for a study






24. Concept that states that retail institutions - like the goods and services they sell - pass through identifiable life stages: introduction - growth - maturity and decline






25. Mazur plan derivative in which buying is centralized and branches become sales units with equal operational status






26. Two or more retailers share an ad






27. Beginning inventory - purchases - and transportation charges equal the cost of this






28. Available from sources outside the firm






29. The manner of providing a job environment that encourages employee accomplishment






30. Ways in which individual consumers and families live and spend time and money






31. 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






32. Usually the first tool used to screen applications; providing data on education - experience - health - reasons for leaving prior jobs - outside activities - hobbies and references






33. Merchandise that generates high sales over a short time






34. A large - planned shopping facility appealing to a geographically dispersed market






35. Teach new (and existing) personnel how best to perform their jobs or how to improve themselves






36. Short-term selling and administrative costs in running a business






37. Whereby suppliers sell through as many retailers as possible






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






39. Uses a series of mathematical equations showing the association between potential store sales and several independent variables at each location






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






41. 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






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






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






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






45. Determining the alternative that will solve the problem at hand and ascertaining the characteristics of each alternative






46. The merchandise categories for which data are gathered






47. A retailers starts with its total available store space - divides the space into categories - and then works on product layouts






48. 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






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






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