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. The total physical exterior of the store itself - marquee - entrances - windows - lighting - and construction materials






2. Bars manufacturers and wholesalers from discriminating in price or purchase terms in selling to individual retailers if these retailers are purchasing products of "like quality" and the effect of such discrimination is to injure competition






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






4. A computerized - demand-based - variable pricing technique whereby a retailer determines the combination of prices that yield the greatest total revenues for a given period (widely used by airlines and hotels)






5. A candid evaluation of the opportunities and threats facing a prospective or existing retailer






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






7. When a retailer looks at data that are collected to address the specific issue or problem under study






8. Anticipates the information needs of retail managers; collects - organizes - and stores relevant data on a continuous basis; and directs the flow of information to the proper decision makers






9. Used by retailers that promote seasonally






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






11. Exists when a person regularly patronizes a particular retailer that he or she knows - likes - and trusts






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






13. A positioning approach whereby retailers offer a discount or value-oriented image - a wide and/or deep merchandise selection and large store facilities






14. A listing of bipolar adjectives scales






15. Whereby a retailer reduces the amount of inventory it holds by ordering more frequently and in lower quantity






16. Any communication that fosters a favorable image for the retailer among it publics (consumers - investors - government - channel members - employees - and the general public)






17. A moderate-sized - planned shopping facility with a branch department store (traditional or discount) and/or a category killer store - as well as several smaller stores






18. Short-run decisions that are made and enacted for each controllable part of the strategy and encompasses a retailers daily and short term operations






19. A customer is first exposed to a good or service through a non-personal medium and then orders by mail - phone - fax or computer






20. Places displays and aisles in a rectangular or gridiron pattern - used for food retailers - discount stores - drugstores - hardware stores and stationary stores






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






22. Caused by employee theft - customer shoplifting - vendor fraud and administrative errors






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






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






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






26. The efficient and effective implementation of the policies and tasks necessary to satisfy the firm's customers - employees - and management






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






28. When a retailer acts in the best interests of society - as well as itself






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






30. Used for products needing special handling






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






32. Feature brand-name apparel and accessories - footwear - linens - fabrics - cosmetics - and/or housewares and sells them at everyday low prices in an efficient - limited-service environment






33. 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






34. Used to describe depreciated assets - such as buildings and warehouses - that are noted on a retail balance sheet at low values relative to their actual worth






35. Consumers view the company as distinctive enough to become loyal to it and go out of their way to shop there






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






37. The long-run and short-run performance targets a retailers hopes to attain






38. Shipping goods right from suppliers to individual stores. workds best with retailers who utilize EDI






39. Money left after paying taxes and buying necessities






40. Two or more retailers share an ad






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






42. 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






43. Consumers feel high prices connote high quality and low prices connote low quality






44. The stores in a planned shopping center complement each other as to the quality and variety of their product offerings - and the kind and number of stores are linked to overall population needs






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






46. A retail firm owned by its customer members






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






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






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






50. A retailers pays an outside party to undertake one or more of its operating functions with the goal of reducing costs and employee time devoted to particular tasks







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests