SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Fashion And Retail Merchandizing
Start Test
Study First
Subjects
:
business-skills
,
industries
Instructions:
Answer 49 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. Needs motivating consumers to go shopping for pleasure.
Hedonic Needs
Cross-Shopping
Multi-Channel
Cannibalization
2. A group of customers whose needs will be satisfied by the same retail offering because they have similar needs and go through similar buying processes.
Fair Trade
Variety
Retail Market Segment
SKU
3. Percentage of consumers who buy the product after viewing it.
Category Specialists
Conversion Rate
Warehouse Clubs
Retailer
4. A firm performs more than one set of activities in the supply chain. Ex: retailer invests in wholesaling or manufacturing
Information Search
Collectivist Cultures
Vertical Integration
Backward Integration
5. The voluntary actions taken by a company to address the ethical - social - and environmental impacts of its business operations - in addition to the concerns of its stakeholders.
Third Tier Department Stores
Specialty Retailers
Corporate Social Responsibility
Second Tier Department Stores
6. Once customers identify a need - they may seek information about retailers or products to help them satisfy that need.
Variety
Internal Sources of Information
Information Search
NAICS Codes
7. A set of firms that make and deliver a given set of goods and services to the ultimate consumer.
Supply Chain
Party Plan
Conversion Rate
Choice of Alternatives
8. A model of customer decision making based on the notion that customers see a retailer or a product as a collection of attributes or characteristics. The model can also be used for evaluating a retailer - product - or vendor. The model uses a weighte
Multi-Attribute Model
Warehouse Clubs
Forward Integration
NAICS Codes
9. A set of business activities that adds value to the products and services sold to consumers for their personal or family use.
Retailing
Multi-Attribute Model
Retail Market Segment
Backward Integration
10. When geographic and demographic characteristics are used to classify consumers.
Second Tier Department Stores
Retail Market Segment
'Birds of a feather flock together'
Geodemographic Segmentation
11. A purchase decision involving little or no conscious effort. Customer loyalty.
Retail Strategy
Close-outs
Third Tier Department Stores
Habitual Decision Making
12. A purchase decision involving a moderate amount of effort. Customers do this when they have some prior experience with the product or service and when their risk is moderate.
Limited Problem Solving
Multi-Attribute Model
Lifestyle or Psychographics
Intertype Competition
13. End-of-season merchandise that will not be used in following seasons.
Lifestyle or Psychographics
Retail Strategy
Close-outs
Corporate Social Responsibility
14. Close-out retailers - They offer an inconsistent assortment of brand name merchandise at low prices. Ex: TJX Companies (which operates T.J.Maxx - Marshalls - Winners - HomeGoods - TKMaxx - AJWright - and HomeSense) - Ross - Burlington Coat Factory -
Franchising
Off-Price Retailers
Collectivist Cultures
Psychosocial Segments
15. Merchandise that has minor mistakes in construction.
Lifestyle or Psychographics
Retail Strategy
Irregulars
Franchising
16. Retailers sell more modestly priced merchandise with less customer service - Ex: Macy's
Specialty Retailers
Second Tier Department Stores
Hedonic Needs
Backward Integration
17. Purchasing from factories that pay workers at a living wage - well more than the prevailing minimum wage - and offer other benefits - like onsite medical treatment.
Reference Group
Specialty Retailers
Third Tier Department Stores
Fair Trade
18. Stock-Keeping Unit The smallest unit available for keeping inventory control. In soft goods merchandise - a SKU usually means a size - color - and style.
Franchising
Third Tier Department Stores
SKU
NAICS Codes
19. Social Class: Lower - Middle - Upper Lifestyle: Striver - driver - devoted - intimate - altruist - fun seeker - creative Personality: Agressive - shy - emotional
Geodemographic Segmentation
Category Specialists
Utilitarian Needs
Psychosocial Segments
20. Competition between retailers that sell similar merchandise using different formats - such as discount and department stores.
Vertical Integration
Intertype Competition
Information Search
Party Plan
21. Deep and Narrow Assortments - Destination Stores - Category killers - Low Price and Service - Wholesaling to Business Customers and Retailing to Consumers - Incredible Growth
Collectivist Cultures
Psychosocial Segments
Lifestyle or Psychographics
Category Specialists
22. North American Industry Classification System Classification of retail firms into a hierarchical set of six-digit codes based on the types of products and services they produce and sell.
Category Specialists
Retailer
NAICS Codes
Cross-Shopping
23. The most common means to define segments - because consumers in these segments can be easily identified - the market size can be determined - and the degree to which they can be reached by and are responsive to media can be easily assessed.
Multi-Attribute Model
Supply Chain
Geodemographic Segmentation
Demographic Variables
24. The pattern of buying both premium and low-priced merchandise or patronizing both expensive - status-oriented retailers and price-oriented retailers.
Warehouse Clubs
Fair Trade
Cross-Shopping
Utilitarian Needs
25. Manufacturers undertake retailing activities. Ex: Ralph Lauren (New York Jones - Liz Claiborne) operates its own retail stores Large retailers engage in both wholesaling and retailing Ex: Wal-Mart - Lowe's - Safeway - Brown Shoe Company
Conversion Rate
Forward Integration
Geodemographic Segmentation
Extended Problem Solving
26. The number of different merchandise categories within a store or department.
Variety
Collectivist Cultures
Backward Integration
Forward Integration
27. The way customers use the information they have and collect about alternatives - evaluate the alternatives - and make the choice that best satisfy their needs.
Demographic Variables
First Tier Department Stores
Choice of Alternatives
Fair Trade
28. A retailer performs some distribution and manufacturing activities - such as operating warehouses. Ex: JCPenney sells Arizona jeans (Private Label)
Third Tier Department Stores
Scrambled Merchandising
Backward Integration
Intertype Competition
29. Competition between the same type of retailers (e.g. - Kroger versus Safeway).
Reference Group
Intratype Competition
Specialty Retailers
Cannibalization
30. One or more people whom a person uses as a basis of comparison for beliefs - feelings and behaviors.
Lifestyle or Psychographics
Franchising
SKU
Reference Group
31. Information provided by ads and other people.
First Tier Department Stores
Cross-Shopping
External Sources of Information
Backward Integration
32. Upscale - high fashion chains with exclusive designer merchandise and excellent customer service - Ex: Nordstrom - Neiman Marcus - Saks
Irregulars
First Tier Department Stores
Extended Problem Solving
Demographic Variables
33. In these cultures - social relationships are more important and material goods are less important to consumers.
Reference Group
Collectivist Cultures
Vertical Integration
Retailer
34. A buying process in which customers spend considerable time making a decision because it is important and because they have limited knowledge of alternatives.
Extended Problem Solving
Intratype Competition
Retailer
Intertype Competition
35. Offer a limited and irregular assortment of food and general merchandise with little service at low prices - Use low-locations - inexpensive store design - little customer service. - Low inventory holding costs by carrying a limited assortment of fas
Second Tier Department Stores
Warehouse Clubs
Wholesaler
Intratype Competition
36. To cut into; cause to become reduced; diminish.
Specialty Retailers
Supply Chain
Cross-Shopping
Cannibalization
37. It indicates how the firm plans to focus its resources to accomplish its objectives. It should identify: 1. The target market 2. The product and service mix 3. A long-term comparative advantage over competition
Conversion Rate
Forward Integration
Extended Problem Solving
Retail Strategy
38. Needs motivating consumers to go shopping to accomplish a specific task.
Utilitarian Needs
Close-outs
Multi-Channel
Retail Market Segment
39. A contractual agreement between a franchisor and a franchisee that allows the franchisee to operate a retail outlet using a name and format developed and supported by the franchisor.
Franchising
Internal Sources of Information
Scrambled Merchandising
Backward Integration
40. System in which salespeople encourage customers to act as hosts and invite friends or coworkers to a 'party' at which the merchandise is demonstrated.
Party Plan
Multi-Channel
Category Specialists
Intratype Competition
41. Value oriented - caters to more price conscious customer Ex: JCPenney - Sears - Kohl's
SKU
Third Tier Department Stores
First Tier Department Stores
Party Plan
42. A business that sells products and/or services to consumers for personal or family use.
Retailer
Forward Integration
First Tier Department Stores
Reference Group
43. Selling merchandise or retailers through more than one channel. Ex: Stores - catalogs - and the internet.
Internal Sources of Information
Choice of Alternatives
Off-Price Retailers
Multi-Channel
44. Refers to how people live - how they spend their time and money - what activities they pursue - and their attitudes and opinions about the world in which they live.
Cannibalization
Choice of Alternatives
Conversion Rate
Lifestyle or Psychographics
45. When retailers offer merchandise not typically associated with their type of store - such as clothing in a drug store - it results in scrambled merchandising. This increases intertype competition.
Corporate Social Responsibility
Scrambled Merchandising
Collectivist Cultures
Information Search
46. Information in a customer's memory - such as names - images - and past experiences with different stores.
Internal Sources of Information
Psychosocial Segments
Forward Integration
Multi-Attribute Model
47. A merchant establishment operated by a concern that is primarily engaged in buying - taking title to - usually storing - and physically handling goods in large quantities - and reselling the goods (usually in smaller quantities) to retailers or indus
Wholesaler
Extended Problem Solving
Geodemographic Segmentation
Retail Strategy
48. Ex.: Consumers in the same neighborhood tend to buy the same types of vars - appliances - and shop at the same retailers.
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
49. A type of store concentrating on a limited number of complementary merchandise categories and providing a high level of service.
NAICS Codes
Retailer
Specialty Retailers
Scrambled Merchandising