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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. A large - planned shopping facility appealing to a geographically dispersed market
Employee Empowerment
Conventional Supermarket
Unit Control
Regional Shopping Center
2. When a retailer looks at data that have been gathered for purposes other than addressing the issue or problem currently under study
Secondary Data
Marketing Research In Retailing
Model Stock Approach
Specialog
3. When stores at a given location complement - blend - and cooperate with one another - and each benefits from the others' presence; when it is strong - the sales of each store are greater due to the high customer traffic
Publicity
Probability (Random) Sample
PMs (Promotional or Push Monies)
Affinity
4. The process of deciding and the factors affecting the process. - stimulus - problem awareness - information search - evaluation of alternatives - purchase - and post-purchase behavior
Reilly's Law of Retailing Gravitation
Discretionary income
Consumer Decision Process
Balanced Tenancy
5. The average number of times each person reached is exposed to a retailers promotion efforts in a specific period
Frequency
Partnership
Generic Brands
Maintained Markup
6. Places displays and aisles in a free-flowing pattern - used for department stores - apparel stores - and other shopping-oriented stores
Curing (Free-Flowing) Traffic Flow
Electronic Point of Sale System
Efficient Consumer Response (ECR)
Evaluation of Alternatives
7. Contains an additional 15 to 25 percent of a stores customers; located outside of the primary area - and customers are more widely dispersed
Situation Analysis
Cross-Merchandising
Secondary Trading Area
Training Programs
8. Any communication that fosters a favorable image for the retailer among it publics (consumers - investors - government - channel members - employees - and the general public)
Box (Limited-Line) Store
Merchandise Available for Sale
Publicity
Public Relations
9. Systematically examines and evaluates a firm's total retailing effort or a specific aspect of it
Revolving Credit Account
Goal-Oriented Job Description
Retail Audit
Retail Method of Accounting
10. A consumer uses each step in the purchase process but does not spend a great deal of time on each of them
Retail Audit
Limited Decision Making
Bottom-Up Space Management Approach
Liabilities
11. Actively involved with informing and persuading customers in closing sales
Off-Price Chain
Order-Getting Salesperson
Want Book (Want Slip)
Merchandising Philosophy
12. Risk is still low - but a retailer takes title on delivery and is responsible for damages
Scrambled Merchandising
Storability Product Groupings
Slotting Allowances
Memorandum Purchase
13. Whereby a retailer sells to consumers through multiple retails formats (points of contact)
Multi-Channel Retailing
Zero-Based Budgeting
Lifestyle Center
Percentage Variation Method
14. Refers to the variety in any one good/service (product line) a retailer carries
Internal Secondary Data
Depth of Assortment
Battle of the Brands
Gap Analysis
15. A program-length TV commercial for a specific good or service that airs on cable or broadcast television - often at fringe time
Revolving Credit Account
HRM Process
Infomercial
Prestige Pricing
16. The aspects of business to which a retailers must adapt
Fad Merchandise
Mystery Shoppers
Uncontrollable Variables
Straight (Gridiron) Traffic Flow
17. The stores in a planned shopping center complement each other as to the quality and variety of their product offerings - and the kind and number of stores are linked to overall population needs
Balanced Tenancy
Flexible Pricing
Need-Satisfaction Approach
Reverse Logistics
18. The revenues received by a retailer during a given period after deducting customer returns - markdowns - and employee discounts
Opportunities
Percentage Lease
Net Sales
Issue (problem) Definition
19. The profit earned after all costs and taxes have been deducted
Central Business District
Net Profit After Taxes
Additional Markup
Option Credit Account
20. Ordering can be computerized and mechanically activated when stock-on-hand reaches the reorder point
Retail Promotion
Opportunistic Buying
Reach
Automatic Reordering System
21. Exhibits a wide range or merchandise encouraging the customer to feel - look at and/or try on products
Supercenter
Strategy Mix
Assortment Display
Prototype Stores
22. A food-based discounter that focuses on a small selection of items - moderate hours of operation - few services and limited manufacturer brands
Box (Limited-Line) Store
FIFO (first-in-first-out) Method
Retail Method of Accounting
Fashion Merchandise
23. A retailer sets its prices in accordance with competitors'
Inventory Shrinkage
Operations Management
Competition-Oriented Pricing
Survey
24. The optimum site for a particular store
Social Responsibility
One-Hundred Percent Location
Product Life Cycle
Wheel of Retailing
25. Handles an assortment of inexpensive and popularly prices goods and services - such as apparel and accessories - costume jewelry - notions and small wares - candy - toys - and other items in the price range
Wheel of Retailing
Variety Store
Category Killer
Width of Assortment
26. Any communication by a retailer that informs - persuades - and/or reminds the target market about any aspect of that firm
Retail Promotion
Limited Decision Making
Sales Opportunity Grid
Independent
27. The service level that customers want to receive from any retailer - such as basic employee courtesy
Impulse Purchases
Post-Purchase Behavior
Ethics
Expected Customer Service
28. Involve the combination of separately owned retail firms
Maintained Markup
Affinity
Regional Shopping Center
Mergers
29. Merchandise that generates high sales over a short time
Objective-and-Task Method
Need-Satisfaction Approach
Fad Merchandise
Vertical Retail Audit
30. Assumes new merchandise is sold first - while older stock remains in inventory
Threats
Gross Profit (margin)
Destination Retailer
LIFO (last-in-first-out) Method
31. A positioning approach whereby retailers offer a discount or value-oriented image - a wide and/or deep merchandise selection and large store facilities
Dollar Control
Mass Merchandising
Exclusive Distribution
Scrambled Merchandising
32. 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
Semantic Differential
Retail Strategy
Channel Control
33. Many retail vendors sell a range of products at discount prices in plain surroundings
Recruitment
Flea Market
Consignment Purchase
Attitudes (Opinions)
34. Money left after paying taxes and buying necessities
Variety Store
Job Motivation
Discretionary income
Vertical Price Fixing
35. 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
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36. Systematically lists all operating functions to be performed - their characteristics - and their timing
Impulse Purchases
Operations Blueprint
Horizontal Cooperative Advertising Agreement
Retail Promotion
37. Rates the promise of new and established goods - services - procedures - and/or store outlets across a variety of criteria
Sales Opportunity Grid
Battle of the Brands
Inventory Shrinkage
Generic Brands
38. Doubt that the correct decision has been made
Storefront
Cognitive Dissonance
Item Price Removal
Family Life Cycle
39. Available within the company - sometimes from the data bank of a retail information system
Business Format Franchising
Markdown
Sorting Process
Internal Secondary Data
40. A retailer charges the same price to all customers buying an item under similar conditions
String
Case Display
One-Price Policy
Atmosphere (atmospherics)
41. The selection of merchandise a retailer carries - includes both the breadth of product categories and the variety within each category
Operating Expenses
Job Motivation
Assortment
Zero-Based Budgeting
42. A version of customary pricing in which a retailer strives to sell goods and services at consistently low prices throughout the selling season
Efficient Consumer Response (ECR)
Convenience Store
Everyday Low Pricing (EDLP)
Secondary Data
43. Retailers identify specific customer segments and deploy unique strategies to address the desires of those segments rather than the mass market
Sales Manager
Niche Retailing
Dollar Control
Dead Areas
44. An exchange of money or a promise to pay for the ownership or use of a good or service. three factors: place of purchase - purchase terms and availability
Purchase Act
Opportunity Costs
Sorting Process
Marketing Research In Retailing
45. Available from sources outside the firm
Cross-Merchandising
External Secondary Data
Perceived Risk
Straight (Gridiron) Traffic Flow
46. Consists of all the levels of independently owned businesses along a channel of distribution
Opportunities
Vertical Marketing System
Central Business District
Net Profit After Taxes
47. A company compares its actual performance against its potential performance and then determines the areas in which it must improve
Percentage Lease
Merchandising
Gap Analysis
Controllable Variables
48. 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
Survey
Compensation
Owned-Goods Services
Fringe Trading Area
49. Selling goods and services to a broad spectrum of consumers
Ethics
Mass Marketing
Specialty Store
Opportunities
50. An inexpensive display that leaves merchandise in the original carton
Opportunities
Everyday Low Pricing (EDLP)
Expected Customer Service
Cut Case