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






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






3. Contains an additional 15 to 25 percent of a stores customers; located outside of the primary area - and customers are more widely dispersed






4. Has a provision allowing rent to increase if a property owner's taxes - heating bills - insurance or other expenses rise beyond a certain point






5. A retailer sets prices based on consumer desires; at the top is the demand ceiling - the most that people will pay for a good/service






6. Era we in now - death of the middle market. Mass merchandising and niche retailing are popular






7. When two or more retailers or a manufacturers/wholesalers share the advertising costs






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






9. An agreement among manufacturers - wholesalers or retailers to set prices. these agreements are illegal under the Sherman Antitrust Act and Federal Trade Commission Act






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






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






12. Appeals to price-conscious consumers - who must be members to shop there






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






14. Has a primarily functional use: to neatly hang or present products






15. A group of retailers gets together to make quantity purchases from supplier and obtain volume discounts






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






17. A manufacturer may sometimes help fund personal selling in addition to regular salesperson compensation






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






19. When stores at a given location complement - blend - and cooperate with one another - and each benefits from the others' presence; when it is strong - the sales of each store are greater due to the high customer traffic






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






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






22. Exhibits heavier - bulkier items than a rack holds






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






24. Objective - quantifiable - easily identifiable and measurable population data






25. The basic format or structure of a business






26. Encompasses the paid communication activities other than advertising - public relations and personal selling that stimulate consumer purchases and dealer effectiveness






27. A manufacturer-owned store selling closeouts; discontinued merchandise; irregulars; cancelled orders; and - sometimes in-season - first-quality merchandise






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






29. An exchange of money or a promise to pay for the ownership or use of a good or service. three factors: place of purchase - purchase terms and availability






30. Financial obligations a retailer incurs in operating a business






31. the drive within people to attain work-related goals - can be positive or negative






32. A retailer first allots funds for each element of the retail strategy mix except promotion. the remaining funds go to promotion (weakest strategy)






33. The number of distinct people exposed to a retailers promotion efforts in a specific period






34. 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






35. Traditional means of trading-area delineation. establishes a point of indifference between two cities or communities - so the trading area of each can be determined - more consumers go to the larger city/community because there are more stores and wo

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36. A manufacturer and a retailer or a wholesales and a retailer share an ad






37. The aspects of business that a firm can directly affect






38. Factors having a high relationship with job success are given more weight than others






39. When a retailers acts in a trustworthy - fair - honest and respectful manner with each of its constituencies






40. A sign that displays the store's name






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






42. An unplanned shopping area in a city or town that is usually bounded by the intersection of two major streets






43. An unincorporated retail firm owned by one person






44. Used by retailers that promote seasonally






45. Entails the collection and analysis of information relating to specific issues or problems facing a retailer






46. A "geographic area containing the customers of a particular firm or group of firms for specific goods or services"






47. 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






48. A retailer adjusts shelf-space allocations to respond to customer and other differences among local markets






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






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