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. Consists of these interrelated personnel activities: recruitment - selection - training - compensation and supervision. the goals are to obtain - develop and retain employees






2. Occurs when one consumer talks to others; can build a chain of customers






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






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






5. The sensitivity of customers to price changes in terms of the quantities they will buy - because there is a relationship between price and consumer purchases and perceptions






6. The process of deciding and the factors affecting the process. - stimulus - problem awareness - information search - evaluation of alternatives - purchase - and post-purchase behavior






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






8. Includes both personal contact with consumers in their homes and phone solicitations initiated by a retailer






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






10. The hub of retailing in a city. synonymous with the term downtown. exists where there is the greatest density of office buildings and stores






11. Typically supervises the on-floor selling and operational activities for a specific retail department






12. A program-length TV commercial for a specific good or service that airs on cable or broadcast television - often at fringe time






13. When information is amassed on each job's functions and requirements: duties - responsibilities - aptitude - interest - education - experience - and physical tasks






14. A retailer specifies which products (goods and services) are purchased - when products are purchased - and how many products are purchased






15. A listing of bipolar adjectives scales






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






17. A large retail unit with an extensive assortment of goods and services that is organized into separate departments for purposes of buying promotion - customer service - and control






18. Merchandise that generates high sales over a short time






19. Acquires and maintains a proper merchandise assortment while ordering - shopping - handling - storing - displaying and selling costs are kept in check






20. A way to collect - store and use relevant information about customers






21. An unplanned shopping area compromising of group retail stores - often with similar or compatible product lines - located along a street or highway






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






23. The optimum site for a particular store






24. The in-depth analysis of information to gain specific insights about customers - product categories - vendors and so forth. the goal is to learn if there are opportunities for tailored marketing efforts






25. Consists of the activities involved in acquiring particular goods and/or services and making them available at the places - times - and prices and in the quantity that enable a retailer to reach its goals






26. Occurs when a consumer makes full use of the decision process






27. When manufacturers and wholesales seek to control the retail prices of their goods and services






28. Whereby each department is subdivided into further categories for related types of merchandise






29. Divides all retail activities into four functional areas - merchandising - publicity - store management - and accounting and control






30. Refers to the variety in any one good/service (product line) a retailer carries






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






32. A food-based discounter that focuses on a small selection of items - moderate hours of operation - few services and limited manufacturer brands






33. Incorporates life stages for both family and non-family households






34. A combination store blending an economy supermarket with a discount department store (it is the US version of a hypermarket)






35. The basic format or structure of a business






36. 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






37. The process by which people determine whether - what - when - where - how - from whom - and how often to purchase goods and services






38. The consumer not only has been aroused by social - commercial - and/or physical stimuli but also recognizes that the good or service under consideration may solve a problem of shortage or unfulfilled desire






39. Involves both the use of automatic teller machines (ATMs) and the instant processing of retail purchases. it allows centralized record keeping and lets customers complete transactions whenever they want






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






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






42. Contains a position's title - relationships (superior and subordinate) - and specific roles and tasks






43. Takes place when the consumer buys out of habit and skips steps in the purchase process






44. Delineates trading areas on the basis of the product assortment carried at various shopping locations - travel times from the shopper's home to alternative locations - and the sensitivity of the kind of shopping to travel time

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45. Unites supermarket and general merchandise in one facility - with general merchandise accounting for 25 to 40% of sales






46. 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






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






48. Money left after paying taxes and buying necessities






49. Involves the activities of government - businesses - and other organizations to protect people from practices infringing upon their rights as consumers






50. Used by retailers that promote seasonally