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






2. Stores - product - or customers are chosen by the researcher - based on judgement or convenience






3. A retailer charges the same price to all customers buying an item under similar conditions






4. The efficient and effective implementation of the policies and tasks necessary to satisfy the firm's customers - employees - and management






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






6. Beginning-of-month planned inventory during any month differs from planned average monthly stock by only one-half of that month's variation from estimated average monthly sales [equation]






7. Used by retailers that promote seasonally






8. 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






9. Usually the first tool used to screen applications; providing data on education - experience - health - reasons for leaving prior jobs - outside activities - hobbies and references






10. The manner of providing a job environment that encourages employee accomplishment






11. Involve the combination of separately owned retail firms






12. One member of the distribution channel dominates the decisions made in that channel due to the power it possesses






13. A moderate-sized - planned shopping facility with a branch department store (traditional or discount) and/or a category killer store - as well as several smaller stores






14. A retailers carries complementary goods and services to encourage shoppers to buy more






15. Whereby a retailers sells to consumers through multiple retail formats






16. The portion of revenues turned over to the federal - state and/or local government






17. 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






18. The service level that customers want to receive from any retailer - such as basic employee courtesy






19. A retailer advertises and sells selected items in its goods/service assortment at less than the usual profit margins. goal is to increase customer traffic for the retailer so that it can sell other regularly prices goods






20. Paid - nonpersonal communication transmitted through out-of-store mass media by an ideantified sponsor






21. Relied on prior promotion budgets to allocate funds; a percentage is either added to or subtracted from one year's budget to determine the next year's






22. Information is systematically gathered from respondents by communicating with them






23. Retailers identify specific customer segments and deploy unique strategies to address the desires of those segments rather than the mass market






24. Arise when consumers buy products and/or brands they had not planned on buying before entering a store - reading a mail-order catalog - seeing a TV shopping show - turning to the Web and so forth






25. The mix of stores within a district or shopping center






26. 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






27. 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






28. Sets the guiding principles for all the merchandise decisions a retailers makes






29. The revenues received by a retailer during a given period after deducting customer returns - markdowns - and employee discounts






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






31. The difference between net sales and the total cost of goods sold






32. Focuses on the sale in which consumers do not purchase or acquire ownership of tangible products






33. A retailer offers discounts to customers who buy in quantity or who buy a product bundle






34. Whereby a retailer sells to consumers through multiple retails formats (points of contact)






35. When ending inventory - recorded at cost - is measured by counting the merchandise in stock at the end of a selling period






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






37. 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






38. 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






39. Used by retailers that promote throughout the year






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






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






42. The consumer not only has been aroused by social - commercial - and/or physical stimuli but also recognizes that the good or service under consideration may solve a problem of shortage or unfulfilled desire






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






44. 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






45. Places together various items that appeal to a given target market






46. A retailer sets its prices in accordance with competitors'






47. Encompasses all merchandise flows from a customer and or the retailers back through the supply channel






48. Provides shoppers with information - adds to store atmospere and serves substantial promotional role






49. Divides all retail activities into four functional areas - merchandising - publicity - store management - and accounting and control






50. Zeroing in on one specific group







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests