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. A consumer uses each step in the purchase process but does not spend a great deal of time on each of them






2. Available within the company - sometimes from the data bank of a retail information system






3. An inexpensive display that leaves merchandise in the original carton






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






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






6. The identifiable - but sometime intangible - activities undertaken by a retailer in conjunction with the basic goods and services it sells






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






8. Rates the promise of new and established goods - services - procedures - and/or store outlets across a variety of criteria






9. A planned shopping facility - with the largest store being a supermarket or a drugstore






10. Whereby consumers lease and use goods for specified periods of time






11. A global electronic superhighway of computer networks that use a common protocol and that are linked by telecommunication lines and satellite






12. The portion of revenues turned over to the federal - state and/or local government






13. Direct monetary payments (salaries - commissions - and bonuses) and indirect payments (paid vacations - health and life insurance - and retirement plans) should be fair to both the retailer and its employees






14. Prevent retailers from selling certain items for less than their cost plus a fixed percentage to cover overhead






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






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






17. Involves an informal ranking of people based on income - occupation - education and other factors






18. The service level that customers want to receive from any retailer - such as basic employee courtesy






19. A retailers has no risk because title is not taken; the supplier owns the goods until sold






20. 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






21. Displays merchandise by common end use






22. Assigns floor space on the basis of sales or profit per foot






23. Aka store brands; contains names designated by wholesales or retailers - are more profitable to retailers - are better controlled by retailers - are not sold by competing retailers - are less expensive for consumer and lead to customer loyalty to ret






24. Represents how a given retailer is perceived by consumers and others






25. Whereby unprofitable stores are closed or divisions are sold off - by retailers unhappy with performace






26. Environmental and marketplace factors that can adversely affect retailers if they do not react to them






27. Assumes that consumers will not buy goods and services at prices deemed too low; a low price means poor quality and status






28. When a retailer takes a proactive - integrated atmospherics approach to create a certain "look" - properly displaying products - stimulate shopping behavior and enhancing the physical environment






29. Concentrates on selling one goods or service line - such as young women's apparel






30. Selection process of one opinion from others. a person determines the criteria to evaluate and their importance before buying






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






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






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






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






35. A cash or card operated retailing format that dispenses goods and services






36. A firm uses current and past budgets as guides and adds to or subtracts from them to arrive at the coming period's expenditures






37. Consists of the regular products carried by a retailer






38. Whereby goods owned by consumers are repaired - improved - or maintained






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






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






41. Mandates that persons with disabilities be given appropriate access to retailing facilities






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






43. Whereby the purchase price is immediately deducted from a consumer's bank account and entered into a retailer's account through a computer terminal






44. A departmentalized food store with a wide range of food and related products; sales of general merchandise are rather limited






45. Any communication by a retailer that informs - persuades - and/or reminds the target market about any aspect of that firm






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






47. Analyzes a firm's performance in one area of the strategy mix or operations - such as the credit function - customer service - merchandise assortment - or interior display






48. Retailers become active in businesses outside their normal operations - and add stores in different goods/service categories






49. Calls for all maintenance costs to be paid by the retailer






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