Test your basic knowledge |

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. The basic format or structure of a business






2. The positive - neutral or negative feelings a person has about different topics






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






4. A global electronic superhighway of computer networks that use a common protocol and that are linked by telecommunication lines and satellite






5. 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






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






7. The difference between planned purchases and the purchase commitments already made by a buyer for a given period - often a month






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






9. Encompasses the paid communication activities other than advertising - public relations and personal selling that stimulate consumer purchases and dealer effectiveness






10. When information is amassed on each job's functions and requirements: duties - responsibilities - aptitude - interest - education - experience - and physical tasks






11. Whereby each department is subdivided into further categories for related types of merchandise






12. Retail prices are set at levels below even dollar values; the assumption is that people feel these prices represent discounts or that the amounts are beneath consumer price ceilings






13. When a retailer looks at data that have been gathered for purposes other than addressing the issue or problem currently under study






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






15. 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






16. Focuses on the sale of tangible phoducts






17. Has a provision allowing rent to increase if a property owner's taxes - heating bills - insurance or other expenses rise beyond a certain point






18. Appeals to the consumer's urge to buy product and the amount of time she or he is willing to spend on shopping






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






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






21. When retailers engage in strategy mixes that are not store-based to reach consumers and complete transactions






22. An inexpensive display that leaves merchandise in the original carton






23. Involves planning and monitoring a retailer's financial investment in merchandise over a stated period






24. A retailer tied it promotion budge to revenue and develops a promotion to sales ratio






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






26. A planned shopping facility - with the largest store being a supermarket or a drugstore






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






28. Short-term selling and administrative costs in running a business






29. Influence people's thought and behavior such as families - aspirational groups and membership groups






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






31. Consists of products that may have cyclical sales due to changing tastes and lifestyles






32. A manufacturer-owned store selling closeouts; discontinued merchandise; irregulars; cancelled orders; and - sometimes in-season - first-quality merchandise






33. Retailers price selected items below cost to lure more customer traffic for those retailers






34. Traditional means of trading-area delineation. establishes a point of indifference between two cities or communities - so the trading area of each can be determined - more consumers go to the larger city/community because there are more stores and wo

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35. Specifies the inventory level - color - brand - style category - size - package - and so on for every staple item carried by the retailer






36. Larger and more diversified than a conventional supermarket but usually smaller and less diversified than a combination store






37. The level of risk a consumer believes exists regarding the purchase of a specific good or service from a given retailer






38. Typically supervises the on-floor selling and operational activities for a specific retail department






39. Factors having a high relationship with job success are given more weight than others






40. A food-based discounter that focuses on a small selection of items - moderate hours of operation - few services and limited manufacturer brands






41. A retailer wants to maintain a specified ratio of goods on hand to sales






42. Whereby suppliers sell through as many retailers as possible






43. 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






44. A sign that displays the store's name






45. Includes both personal contact with consumers in their homes and phone solicitations initiated by a retailer






46. Whereby a service retailer does not get paid until after the service is performed and payment is contingent on the service's being satisfactory






47. Involves the activities of government - businesses - and other organizations to protect people from practices infringing upon their rights as consumers






48. A retailers starts with its total available store space - divides the space into categories - and then works on product layouts






49. Shows the expected behavior of a good or service over its life






50. A consumer uses each step in the purchase process but does not spend a great deal of time on each of them