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






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






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






4. Whereby copies of all the data bases in a firm are maintained in one location and are accessible to employees at any locale






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






6. The line of business in which a retailer operates






7. Involves oral communication with one or more prospective customers for the purpose of making a sale






8. Merchandise that generates high sales over a short time






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






10. 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






11. Exhibits a wide range or merchandise encouraging the customer to feel - look at and/or try on products






12. 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






13. Converts shopping from a passive activity into a more interactive one - by better engaging customers






14. A retailers carries complementary goods and services to encourage shoppers to buy more






15. Larger and more diversified than a conventional supermarket but usually smaller and less diversified than a combination store






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






17. A version of customary pricing in which a retailer strives to sell goods and services at consistently low prices throughout the selling season






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






19. A multi-line firm operating under central ownership






20. A retailer charges the same price to all customers buying an item under similar conditions






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






22. Represents the total bundle of benefits offered to consumers through a channel of distribution






23. Lets consumers bargain over prices; those who are good at it obtain lower prices






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






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






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






27. A retailer offers discounts to customers who buy in quantity or who buy a product bundle






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






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






30. A type of retail institution which involves a contractual arrangement between a franchisor (a manufacturer - wholesales or service sponsor) and a retail franchisee - which allows the franchisee to conduct business under an established name and accord






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






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






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






34. 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






35. Many retail vendors sell a range of products at discount prices in plain surroundings






36. Systematically examines and evaluates a firm's total retailing effort or a specific aspect of it






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






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






39. The difference between net sales and the total cost of goods sold






40. Two or more retailers share an ad






41. The form of research in which present behavior or the results of past behavior are noted and recorded






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






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






44. Attracts independents because of low capital requirements and relatively simple licensing provisions for many small retail firms. leads to intense competition






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






46. Assumes new merchandise is sold first - while older stock remains in inventory






47. Ownership verus leasing - the type of lease - operations and maintenance costs - taxing - zoning restrictions and voluntary regulations






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






49. Determines the floor space necessary to carry and display a proper merchandise assortment






50. A case that holds piles of sale clothing - marked down books or other products