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. The overall plan guiding a retail firm
Visual Merchandising
Destination Retailer
Retail Strategy
Value Chain
2. A self-service food store with grocery - meat - and produce departments and minimum annual sales of $2 million
Franchising
Semantic Differential
Supermarket
Minimum-Price Laws
3. The total process of planning - implementing and coordinating the physical movement of merchandise from manufacturer (wholesaler) to retailer to customer in the most timely - effective and cost-efficient manner possible
Combination Store
Stimulus
Logistics
Sole Proprietorship
4. Stipulates that rent is related to sales or profits; protects a property owner against inflation and lets it benefit if a store is successful
Unit Control
External Secondary Data
Percentage Lease
Lifestyles
5. Consumers view the company as distinctive enough to become loyal to it and go out of their way to shop there
Destination Retailer
Cooperative Advertising
Electronic Point of Sale System
Multi-Channel Retailing
6. A listing of bipolar adjectives scales
Specialog
Semantic Differential
Category Killer
Unit Pricing
7. 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)
Retail Method of Accounting
Yield Management Pricing
Purchase Motivation Product Groupings
Experiential Merchandising
8. Every store - product - or customer has an equal or known chance of being chosen for a study
One-Hundred Percent Location
Observation
Ensemble Display
Probability (Random) Sample
9. Consists of products that sell well over nonconsecutive time periods
Owned-Goods Services
Supermarket
Prestige Pricing
Seasonal Merchandise
10. Concept that states that retail institutions - like the goods and services they sell - pass through identifiable life stages: introduction - growth - maturity and decline
Neighborhood Shopping Center
Power Center
Retail Life Cycle
Horizontal Retail Audit
11. A typically well-located - food-oriented retailer that is open long hours and carries a moderate number of items
Want Book (Want Slip)
Convenience Store
Mazur Plan
Supply Chain
12. Actively involved with informing and persuading customers in closing sales
Automatic Reordering System
Productivity
Assortment
Order-Getting Salesperson
13. Beginning inventory - purchases - and transportation charges equal the cost of this
Retail Organization
Option Credit Account
Merchandise Available for Sale
Open-to-Buy
14. Any nonpersonal form of public relations whereby messages are transmitted through mass media - the time or space provided by the media is not paid for - and there is no identified commercial sponsor
Data-Base Management
Gravity Model
Opportunities
Publicity
15. When ending inventory - recorded at cost - is measured by counting the merchandise in stock at the end of a selling period
Retail Institution
Physical Inventory System
Depth of Assortment
Gap Analysis
16. The merchandise categories for which data are gathered
Flexible Pricing
Control Units
Seasonal Merchandise
Vending Machine
17. Attracts independents because of low capital requirements and relatively simple licensing provisions for many small retail firms. leads to intense competition
Recruitment
Data Mining
Frequency
Ease of Entry
18. Whereby unprofitable stores are closed or divisions are sold off - by retailers unhappy with performace
Food-Based Superstore
Owned-Goods Services
Downsizing
Central Business District
19. Refers to the number of distinct goods/services categories (product lines) a retailer carries
Sorting Process
Sole Proprietorship
Width of Assortment
Relationship Retailing
20. Based on the actual prices received for merchandise sold during a time period less merchandise cost
Sorting Process
Maintained Markup
Benchmarking
Yield Management Pricing
21. Appeals to the consumer's urge to buy product and the amount of time she or he is willing to spend on shopping
Category Killer
Net Lease
Flexible Pricing
Purchase Motivation Product Groupings
22. A planned shopping facility - with the largest store being a supermarket or a drugstore
Customer Service
Storability Product Groupings
Neighborhood Shopping Center
Top-Down Space Management Approach
23. The sensitivity of customers to price changes in terms of the quantities they will buy - because there is a relationship between price and consumer purchases and perceptions
Image
Price Elasticity of Demand
Huff's Law of Shopper Attraction
Generic Brands
24. The customer group sought by a retailer
Membership (Warehouse) Club
Case Display
Target Marketing
Electronic Article Surveillance
25. Shows the expected behavior of a good or service over its life
Advertising
Product Life Cycle
Extended Decision Making
Probability (Random) Sample
26. A retailer offers discounts to customers who buy in quantity or who buy a product bundle
Direct Store Distribution (DSD)
Multiple-Unit Pricing
Box (Limited-Line) Store
Open-to-Buy
27. The perception the shopper has of a value chain. the customers view of all the benefits from a purchase
Value (customer)
Marquee
Consumer Decision Process
Slotting Allowances
28. The aspects of business to which a retailers must adapt
PMs (Promotional or Push Monies)
Motives
Uncontrollable Variables
Secondary Business District (SBD)
29. A manufacturer-owned store selling closeouts; discontinued merchandise; irregulars; cancelled orders; and - sometimes in-season - first-quality merchandise
Universal Product Code (UPC)
Factory Outlet
Cost-Oriented Pricing
Augmented Customer Service
30. A consumer may engage in behavior after purchasing a product that falls into two categories: further purchases or re-evaluation
Advertising
Post-Purchase Behavior
Merchandising Philosophy
Social Class
31. Whereby retailers - at their sole discretion - make deductions in their bills for infractions - ranging from late shipments to damages and expired goods
Dollar Control
Concentrated Marketing
Consignment Purchase
Chargebacks
32. A retailers best customers
Core Customers
Ensemble Display
Household Life Cycle
Vendor-Managed Inventory (VMI)
33. Software which combines digitized mapping with key locational data to graphically depict trading-area characteristics such as population demographics; data on consumer purchases; and listings of current - proposed and competitor locations
Yield Management Pricing
Geographical Information System
Prototype Stores
Markdown
34. A technique that enables a retailer to find the profitability of each category or merchandise by computing adjusted per-unit gross margin and assigning direct product costs for such expense categories as warehousing - transportation - handling - and
Price-Quality Association
Yield Management Pricing
Battle of the Brands
Direct Product Profitability (DPP)
35. Based on the principle that each customer has different wants; thus - a sales presentation should be geared to the demands of the individual customer
Internet
Merchandise Available for Sale
Retailing Concept
Need-Satisfaction Approach
36. Represents how a given retailer is perceived by consumers and others
Horizontal Price Fixing
Merchandising Philosophy
Goods/Service Category
Image
37. Aiming at two or more distinct consumer groups - with different retailing approaches for each group
Zero-Based Budgeting
Cognitive Dissonance
Consumer Cooperative
Differentiated Marketing
38. Forecasts average sales weekly - so beginning inventory equals several weeks expected sales
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
39. Involves oral communication with one or more prospective customers for the purpose of making a sale
Power Center
Assortment Merchandise
Personal Selling
Resident Buying Office
40. 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
Vertical Retail Audit
Robinson-Patman Act
Electronic Point of Sale System
Traditional Department Store
41. The form of research in which present behavior or the results of past behavior are noted and recorded
Observation
Mass Merchandising
Merchandising Philosophy
Direct Product Profitability (DPP)
42. Large retailers seek to reduce competition by selling goods and services at very low prices - thus causing small retailers to go out of business
Predatory Pricing
Universal Product Code (UPC)
Trading Area
Taxes
43. Usually the first tool used to screen applications; providing data on education - experience - health - reasons for leaving prior jobs - outside activities - hobbies and references
Application Blank
Observation
Class Consciousness
Sales Promotion
44. The geographical breaking point between two cities (communities) at which consumers are indifferent to shopping at either
Outsourcing
Loss Leaders
Point of Difference
Graduated Lease
45. A company compares its actual performance against its potential performance and then determines the areas in which it must improve
Gap Analysis
Specialog
Gross Profit (margin)
Resident Buying Office
46. 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
Outsourcing
Basic Stock Method
Product/Trademark Franchising
Advertising
47. An indoctrination on the firm's history and policies - as well as a job orientation on hours - compensation - the chain of command and job duties
Debit Card System
Pre-Training
Lifestyle Center
Traditional Department Store
48. A retailer alters its prices to coincide with fluctuations in costs or consumer demand
Variable Pricing
Solution Selling
Competition-Oriented Pricing
Basic Stock Method
49. Mazur plan derivative in which buying is centralized and branches become sales units with equal operational status
Equal Store Organization
Recruitment
RFID (radio frequency identification)
Neighborhood Shopping Center
50. A food-based discounter offering a moderate number of food items in a no-frills setting
Loss Leaders
Fad Merchandise
Book (Perpetual) Inventory System
Warehouse Store