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. Consists of these interrelated personnel activities: recruitment - selection - training - compensation and supervision. the goals are to obtain - develop and retain employees
Retail Method of Accounting
HRM Process
Downsizing
Opportunistic Buying
2. Occurs when one consumer talks to others; can build a chain of customers
Word of Mouth (WOM)
Top-Down Space Management Approach
Resident Buying Office
Marquee
3. The activity whereby a retailer generates a list of job applicants
Control
Recruitment
Information Search
Value Chain
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
Percentage Lease
Ease of Entry
Massed Promotion Effort
Outsourcing
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
Cost of Goods Sold
Case Display
Computerized Checkout
Price Elasticity of Demand
6. The process of deciding and the factors affecting the process. - stimulus - problem awareness - information search - evaluation of alternatives - purchase - and post-purchase behavior
String
Impulse Purchases
Consumer Decision Process
Gap Analysis
7. Increases an item's original price because demand is unexpectedly high or costs are rising
Ethics
Additional Markup
Gravity Model
Direct Product Profitability (DPP)
8. Includes both personal contact with consumers in their homes and phone solicitations initiated by a retailer
Mazur Plan
Scenario Analysis
Direct Selling
Seasonal Merchandise
9. A type of research in which one or more elements of a retail strategy mix are manipulated under controlled conditions
Book (Perpetual) Inventory System
Planogram
Cost of Goods Sold
Experiment
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
Central Business District
Straight (Gridiron) Traffic Flow
Markup Pricing
Geographical Information System
11. Typically supervises the on-floor selling and operational activities for a specific retail department
Concentrated Marketing
Multi-Channel Retailing
Balanced Tenancy
Sales Manager
12. A program-length TV commercial for a specific good or service that airs on cable or broadcast television - often at fringe time
Nonstore Retailing
Traditional Job Description
Social Class
Infomercial
13. When information is amassed on each job's functions and requirements: duties - responsibilities - aptitude - interest - education - experience - and physical tasks
Mass Marketing
Job Analysis
Supervision
Demographics
14. A retailer specifies which products (goods and services) are purchased - when products are purchased - and how many products are purchased
Financial Merchandise Management
Intensive Distribution
Predatory Pricing
Class Consciousness
15. A listing of bipolar adjectives scales
Semantic Differential
Direct Product Profitability (DPP)
Warehouse Store
Gross Profit (margin)
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
Threats
Cognitive Dissonance
Price-Quality Association
Specialog
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
Training Programs
Analog Model
Department Store
Cost of Goods Sold
18. Merchandise that generates high sales over a short time
Multi-Channel Retailing
Scenario Analysis
Semantic Differential
Fad Merchandise
19. Acquires and maintains a proper merchandise assortment while ordering - shopping - handling - storing - displaying and selling costs are kept in check
Inventory Management
Net Lease
Geographical Information System
Cost-Oriented Pricing
20. A way to collect - store and use relevant information about customers
Data-Base Retailing
Chargebacks
Operations Management
Customer Loyalty
21. An unplanned shopping area compromising of group retail stores - often with similar or compatible product lines - located along a street or highway
String
Wheel of Retailing
Evaluation of Alternatives
Storefront
22. Ways in which individual consumers and families live and spend time and money
Primary Trading Area
Direct Product Profitability (DPP)
Lifestyles
Analog Model
23. The optimum site for a particular store
One-Hundred Percent Location
Observation
Memorandum Purchase
Category Management
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
Retail Promotion
Data Mining
Price Lining
Odd Pricing
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
Merchandising
Specialty Store
Massed Promotion Effort
Supermarket
26. Occurs when a consumer makes full use of the decision process
Extended Decision Making
Owned-Goods Services
Infomercial
Price Elasticity of Demand
27. When manufacturers and wholesales seek to control the retail prices of their goods and services
Automatic Reordering System
Vertical Price Fixing
Book (Perpetual) Inventory System
Evaluation of Alternatives
28. Whereby each department is subdivided into further categories for related types of merchandise
Physical Inventory System
Monthly Sales Index
Classification Merchandising
Class Consciousness
29. Divides all retail activities into four functional areas - merchandising - publicity - store management - and accounting and control
Value (retailer)
Seasonal Merchandise
Constrained Decision Making
Mazur Plan
30. Refers to the variety in any one good/service (product line) a retailer carries
Market Segment Product Groupings
Depth of Assortment
Operations Blueprint
Neighborhood Business District
31. The difference between net sales and the cost of goods sold; it consists of operating expenses plus net profit
Video Kiosk
Fad Merchandise
Social Responsibility
Gross Profit (margin)
32. A food-based discounter that focuses on a small selection of items - moderate hours of operation - few services and limited manufacturer brands
Box (Limited-Line) Store
Job Analysis
Operations Blueprint
Stock Turnover
33. Incorporates life stages for both family and non-family households
Convenience Store
Productivity
Household Life Cycle
Vertical Marketing System
34. A combination store blending an economy supermarket with a discount department store (it is the US version of a hypermarket)
Experiment
Nongoods Services
Direct Product Profitability (DPP)
Supercenter
35. The basic format or structure of a business
Model Stock Approach
Robinson-Patman Act
Variable Pricing
Retail Institution
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
Simulation
Rented-Goods Services
Uncontrollable Variables
Data-Base Management
37. The process by which people determine whether - what - when - where - how - from whom - and how often to purchase goods and services
Yield Management Pricing
Consumer Behavior
Width of Assortment
Value (customer)
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
Gravity Model
Problem Awareness
Productivity
Regression Model
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
Secondary Business District (SBD)
Rented-Goods Services
Mazur Plan
Electronic Banking
40. Payments that retailers require of vendors for providing shelf space
Bifurcated Retailing
Slotting Allowances
Mass Merchandising
Vendor-Managed Inventory (VMI)
41. A large - planned shopping facility appealing to a geographically dispersed market
Customer Satisfaction
Regional Shopping Center
Department Store
Yield Management Pricing
42. Contains a position's title - relationships (superior and subordinate) - and specific roles and tasks
Merchandising
Personal Selling
Traditional Job Description
Revolving Credit Account
43. Takes place when the consumer buys out of habit and skips steps in the purchase process
Liabilities
Universal Product Code (UPC)
Routine Decision Making
Evaluation of Alternatives
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
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
45. Unites supermarket and general merchandise in one facility - with general merchandise accounting for 25 to 40% of sales
Straight (Gridiron) Traffic Flow
Combination Store
Basic Stock List
Dead Areas
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
Impulse Purchases
Full-Line Discount Store
Mazur Plan
Class Consciousness
47. Whereby retailers - at their sole discretion - make deductions in their bills for infractions - ranging from late shipments to damages and expired goods
Predatory Pricing
Owned-Goods Services
Price Lining
Chargebacks
48. Money left after paying taxes and buying necessities
Discretionary income
Rationalized Retailing
Product/Trademark Franchising
Storefront
49. Involves the activities of government - businesses - and other organizations to protect people from practices infringing upon their rights as consumers
Consumer Protection
Electronic Article Surveillance
Franchising
Huff's Law of Shopper Attraction
50. Used by retailers that promote seasonally
Seasonal Merchandise
Cooperative Advertising
Massed Promotion Effort
Slotting Allowances