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






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






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






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






5. A freestanding - interactive - electronic computer terminal that displays products and related information on a video screen






6. Consists of apparel - furniture - autos - and other products for which the retailer must carry a variety of products in order to give customers a proper selection






7. The process by which people determine whether - what - when - where - how - from whom - and how often to purchase goods and services






8. 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






9. When ending inventory - recorded at cost - is measured by counting the merchandise in stock at the end of a selling period






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






11. A listing of bipolar adjectives scales






12. The reasons for a consumers behavior






13. Refers to the number of distinct goods/services categories (product lines) a retailer carries






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






15. A method of storing and remotely retrieving data using devices called RFID tags or trandponders






16. 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






17. 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






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






19. Whereby retailers - at their sole discretion - make deductions in their bills for infractions - ranging from late shipments to damages and expired goods






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






21. Doubt that the correct decision has been made






22. An unplanned shopping area compromising of group retail stores - often with similar or compatible product lines - located along a street or highway






23. Selling goods and services to a broad spectrum of consumers






24. A retailer carries more items than expects to sell over a specified period






25. Two or more retailers share an ad






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






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






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






30. Performs all of the tasks of a computerized checkout and verifies check and charge transactions - provides instantaneous sales reports - monitors and changes prices - sends intra- and inter- store messages - evaluates personnel and profitability and






31. Describes how traditional family moves from bachelorhood to children to solitary retirement






32. Retailers identify specific customer segments and deploy unique strategies to address the desires of those segments rather than the mass market






33. Places together various items that appeal to a given target market






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






35. Consists of all the levels of independently owned businesses along a channel of distribution






36. The cost to the retailer of each item recorded on an accounting sheet and/or is coded on a price tag or merchandise container






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






38. Stipulates that rent is related to sales or profits; protects a property owner against inflation and lets it benefit if a store is successful






39. Whereby retailers seek to establish and maintain long-term bonds with customers - rather than act as if each sales transaction is completely new encounter






40. Whereby the retailer sets standards and measures its performance based on the achievements of its sector of retailing - specific competitors - high-performance firms - and/or the prior actions of the firm itself






41. Beginning inventory - purchases - and transportation charges equal the cost of this






42. Mazur plan derivative in which buying is centralized and branches become sales units with equal operational status






43. The geographical breaking point between two cities (communities) at which consumers are indifferent to shopping at either






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






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






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






47. Used for products needing special handling






48. Outlines a retailer's planned expenditures for a given time based on expected performance






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






50. A visual (graphical) representation of the space for selling - merchandise - personnel and customers - as well as for product categories which lays out the in-store placement







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