SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Retail Management
Start Test
Study First
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. Whereby copies of all the data bases in a firm are maintained in one location and are accessible to employees at any locale
Data Warehousing
Incremental Method
Gross Margin
Probability (Random) Sample
2. The number of distinct people exposed to a retailers promotion efforts in a specific period
Item Price Removal
Reach
Open Credit Account
Retailing Concept
3. Whereby goods owned by consumers are repaired - improved - or maintained
Performance Measures
Sales Promotion
Cost of Goods Sold
Owned-Goods Services
4. An illegal practice in which a retailer lures a customer by advertising goods and services at exceptionally low prices; once the customer contacts the retailer - he/she is told the good is out of stock or of inferior quality; a salesperson tries to c
Bait-and-Switch Advertising
Basic Stock Method
Class Consciousness
World Wide Web
5. All of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer
Channel of Distribution
Trading Area Overlap
Vertical Marketing System
Power Center
6. Service that includes the activities that enhance the shopping experience and give retailers a competitive advantage
Box (Limited-Line) Store
Augmented Customer Service
Ethics
Warehouse Store
7. Awkward spaces where normal displays cannot be set up like light fixtures - wood or metal beams - doors - rest rooms - dressing rooms and vertical transportation
Dead Areas
Order-Getting Salesperson
Massed Promotion Effort
Culture
8. 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
Traditional Department Store
Category Management
Rack Display
Horizontal Price Fixing
9. 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
Personal Selling
Electronic Point of Sale System
Variable Markup Policy
Logistics
10. A review takes place in which the strategy and tactics are assessed against the business mission - objectives and target market
Off-Price Chain
Control
Straight (Gridiron) Traffic Flow
Atmosphere (atmospherics)
11. There is more interactive relationship between a franchisor and a franchisee
Market Segment Product Groupings
Retail Balance
Mass Merchandising
Business Format Franchising
12. Appeals to price-conscious consumers - who must be members to shop there
Membership (Warehouse) Club
Variable Markup Policy
Reference Groups
Debit Card System
13. An unplanned shopping area in a city or town that is usually bounded by the intersection of two major streets
Secondary Business District (SBD)
Class Consciousness
Partnership
Markup Pricing
14. Involves recruiting - selecting - training - compensating - and supervising personnel in a manner consistent with the retailer's organization structure and strategy mix
Value (customer)
Width of Assortment
Human Resource Management
Word of Mouth (WOM)
15. The possible benefits a retailer forgoes if it invests in one opportunity rather than another
Dual Marketing
Stock-to-Sales Method
Loss Leaders
Opportunity Costs
16. Paid - nonpersonal communication transmitted through out-of-store mass media by an ideantified sponsor
Retail Audit
Advertising
Sales Promotion
Leased Department
17. A retailer projects the future by studying factors that affect long -run performance and then forms contingency plans based on alternative scenarios
Debit Card System
Scenario Analysis
All-You-Can-Afford Method
Financial Merchandise Management
18. The positive - neutral or negative feelings a person has about different topics
Personal Selling
Automatic Reordering System
Point-of-Purchase Display
Attitudes (Opinions)
19. 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)
Yield Management Pricing
Customer Satisfaction
Recruitment
Relationship Retailing
20. A combination store blending an economy supermarket with a discount department store (it is the US version of a hypermarket)
Stock Turnover
Supercenter
Solution Selling
Flea Market
21. Assumes that consumers will not buy goods and services at prices deemed too low; a low price means poor quality and status
Supervision
Prestige Pricing
Reilly's Law of Retailing Gravitation
Monthly Sales Index
22. Shows the expected behavior of a good or service over its life
Control
Sales Manager
Product Life Cycle
Bottom-Up Space Management Approach
23. A retailer charges the same price to all customers buying an item under similar conditions
Variety Store
Multi-Channel Retailing
Odd Pricing
One-Price Policy
24. Beginning inventory - purchases - and transportation charges equal the cost of this
Total Retail Experience
Merchandise Available for Sale
Situation Analysis
Generic Brands
25. Typically supervises the on-floor selling and operational activities for a specific retail department
Customer Loyalty
Organization Chart
Sales Manager
Category Killer
26. Based on the actual prices received for merchandise sold during a time period less merchandise cost
Maintained Markup
Distributed Promotion Effort
World Wide Web
Strategy Mix
27. Every store - product - or customer has an equal or known chance of being chosen for a study
Seasonal Merchandise
Probability (Random) Sample
Traditional Department Store
Category Management
28. Lower price than the original is used to meet the lower price of another retailer - adapt to inventory overstocking - clear out shopworn merchandise - reduce assortments of odds and ends - and increase customer traffic
Net Profit After Taxes
Markdown
Family Life Cycle
Mass Marketing
29. 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
Compensation
Lifestyle Center
Staple Merchandise
Fad Merchandise
30. The perception the shopper has of a value chain. the customers view of all the benefits from a purchase
Item Price Removal
Economic Base
Value (customer)
Vertical Cooperative Advertising Agreement
31. When two or more retailers or a manufacturers/wholesalers share the advertising costs
Atmosphere (atmospherics)
Competition-Oriented Pricing
Customer Loyalty
Cooperative Advertising
32. Consists of products that may have cyclical sales due to changing tastes and lifestyles
Fashion Merchandise
Reverse Logistics
Automatic Reordering System
Term Occupancy
33. Retailers hire people to pose as customers and observe their operations - from sales presentations to how well displays are maintained to service calls
Cooperative Buying
Channel Control
Stock Turnover
Mystery Shoppers
34. Delineates trading areas on the basis of the product assortment carried at various shopping locations - travel times from the shopper's home to alternative locations - and the sensitivity of the kind of shopping to travel time
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
35. Closing inventory value is determined by calculating the average relationship between the cost and retail values of merchandise available for sale during a period
Liabilities
Ethics
Retail Method of Accounting
Social Responsibility
36. Calls for all maintenance costs to be paid by the retailer
Personal Selling
Variable Pricing
Net Lease
Merchandising
37. The process by which people determine whether - what - when - where - how - from whom - and how often to purchase goods and services
Additional Markup
Semantic Differential
Routine Decision Making
Consumer Behavior
38. Enumerates basic functions - the relationship of each job to overall goals - the interdependence of positions and information flows
Goal-Oriented Job Description
Strategy Mix
Observation
All-You-Can-Afford Method
39. One member of the distribution channel dominates the decisions made in that channel due to the power it possesses
Retail Institution
Employee Empowerment
Floor-Ready Merchandise
Channel Control
40. Where the same customers are served by both branches
Order-Taking Salesperson
Trading Area Overlap
Sorting Process
Assortment Display
41. Exists when a person regularly patronizes a particular retailer that he or she knows - likes - and trusts
Robinson-Patman Act
Retail Strategy
Customer Loyalty
Category Killer
42. A franchisee acquires the identity of the franchisor by agreeing to sell the latter's products and/or operate under the latter's name
Product/Trademark Franchising
Storability Product Groupings
Physical Inventory System
Culture
43. Used by retailers that promote throughout the year
Probability (Random) Sample
Distributed Promotion Effort
Membership (Warehouse) Club
Retail Strategy
44. Whereby a retailer reduces the amount of inventory it holds by ordering more frequently and in lower quantity
Stock-to-Sales Method
Canned Sales Presentation
Financial Merchandise Management
Quick Response (QR) Inventory Planning
45. Places displays and aisles in a rectangular or gridiron pattern - used for food retailers - discount stores - drugstores - hardware stores and stationary stores
Horizontal Retail Audit
Straight (Gridiron) Traffic Flow
Hierarchy of Effects
Secondary Trading Area
46. An inside or outside organization that is used when a retailer wants to keep in close touch with key market trends and cannot do so through just headquarters buying staff
Corporation
Resident Buying Office
Chain
Cognitive Dissonance
47. Incorporates life stages for both family and non-family households
Household Life Cycle
Neighborhood Business District
Supermarket
Percentage-of-Sales Method
48. A planned shopping facility - with the largest store being a supermarket or a drugstore
Markdown
Recruitment
Reference Groups
Neighborhood Shopping Center
49. A retailer sets prices for goods and services and seeks to maintain them for an extended period
Category Management
Customary Pricing
Minimum-Price Laws
Scrambled Merchandising
50. 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
Visual Merchandising
Consignment Purchase
LIFO (last-in-first-out) Method
Tactics