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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. Places displays and aisles in a rectangular or gridiron pattern - used for food retailers - discount stores - drugstores - hardware stores and stationary stores
Extended Decision Making
Retail Organization
PMs (Promotional or Push Monies)
Straight (Gridiron) Traffic Flow
2. Whereby a retailer sells to consumers through multiple retails formats (points of contact)
Horizontal Cooperative Advertising Agreement
Electronic Point of Sale System
Gravity Model
Multi-Channel Retailing
3. The efficient and effective implementation of the policies and tasks necessary to satisfy the firm's customers - employees - and management
Operations Management
Impulse Purchases
Rationalized Retailing
Maintenance-Increase-Recoupment Lease
4. Whereby goods owned by consumers are repaired - improved - or maintained
Owned-Goods Services
Stock Turnover
Yield Management Pricing
Trading Area Overlap
5. 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
Impulse Purchases
Classification Merchandising
Augmented Customer Service
Leader Pricing
6. The optimum site for a particular store
Loss Leaders
Recruitment
Demand-Oriented Pricing
One-Hundred Percent Location
7. Influence people's thought and behavior such as families - aspirational groups and membership groups
Inventory Management
Retail Balance
Reference Groups
Internal Secondary Data
8. Entails the collection and analysis of information relating to specific issues or problems facing a retailer
Publicity
Diversified Retailer
Marketing Research In Retailing
Retail Organization
9. The cost of running a retail business
Operating Expenses
Retail Information System
Supermarket
Vertical Retail Audit
10. Large retailers seek to reduce competition by selling goods and services at very low prices - thus causing small retailers to go out of business
Vertical Retail Audit
Predatory Pricing
Retail Organization
World Wide Web
11. One member of the distribution channel dominates the decisions made in that channel due to the power it possesses
Straight (Gridiron) Traffic Flow
Channel Control
Motives
Monthly Sales Index
12. Whereby the purchase price is immediately deducted from a consumer's bank account and entered into a retailer's account through a computer terminal
Non-probability Sample
Debit Card System
Neighborhood Shopping Center
Percentage Lease
13. When a retailer looks at data that have been gathered for purposes other than addressing the issue or problem currently under study
Yield Management Pricing
Secondary Data
Central Business District
Semantic Differential
14. Contains a position's title - relationships (superior and subordinate) - and specific roles and tasks
Box (Limited-Line) Store
Traditional Job Description
Positioning
Maintenance-Increase-Recoupment Lease
15. A firm uses current and past budgets as guides and adds to or subtracts from them to arrive at the coming period's expenditures
Ensemble Display
Balanced Tenancy
Incremental Budgeting
Analog Model
16. 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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17. 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
Weeks' Supply Method
Problem Awareness
Value Chain
Chain
18. Whereby retailers seek to establish and maintain long-term bonds with customers - rather than act as if each sales transaction is completely new encounter
Retailing
Relationship Retailing
Retail Method of Accounting
Specialty Store
19. 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
Semantic Differential
Price Elasticity of Demand
Direct Marketing
Expected Customer Service
20. An open air shopping site that typically includes 150 -000 to 500 -000 square feet of space dedicated to upscale - well-known specialty stores
LIFO (last-in-first-out) Method
Lifestyle Center
Destination Retailer
Performance Measures
21. When a retailers acts in a trustworthy - fair - honest and respectful manner with each of its constituencies
Supercenter
Ethics
Internet
Culture
22. Used by both large and small retailers so they can efficiently process transactions and monitor inventory
Specialog
Gravity Model
Observation
Computerized Checkout
23. the drive within people to attain work-related goals - can be positive or negative
Job Motivation
Controllable Variables
Product Life Cycle
Demographics
24. Short-run decisions that are made and enacted for each controllable part of the strategy and encompasses a retailers daily and short term operations
Analog Model
Diversified Retailer
Flea Market
Tactics
25. The number of distinct people exposed to a retailers promotion efforts in a specific period
Equal Store Organization
Differentiated Marketing
Analog Model
Reach
26. An agreement among manufacturers - wholesalers or retailers to set prices. these agreements are illegal under the Sherman Antitrust Act and Federal Trade Commission Act
Want Book (Want Slip)
Multi-Channel Retailing
Horizontal Price Fixing
Micromerchandising
27. Relates to the quantites of merchandise a retailer handles during a stated period
External Secondary Data
Unit Control
Weeks' Supply Method
Public Relations
28. Graphically displays its hierarchical relationships created by a retailer
Organization Chart
Multi-Channel Retailing
Attitudes (Opinions)
Unit Pricing
29. A retailers carries complementary goods and services to encourage shoppers to buy more
Unit Control
Cross-Merchandising
Merchandise Available for Sale
Hidden Assets
30. The positive - neutral or negative feelings a person has about different topics
Maintained Markup
Data-Base Retailing
Attitudes (Opinions)
Retail Institution
31. Involves recruiting - selecting - training - compensating - and supervising personnel in a manner consistent with the retailer's organization structure and strategy mix
Information Search
Human Resource Management
Visual Merchandising
Retail Promotion
32. Customer orientation - coordinated effort - value driven and goal orientation
Control Units
Retailing Concept
Organization Chart
Customer Loyalty
33. The process of deciding and the factors affecting the process. - stimulus - problem awareness - information search - evaluation of alternatives - purchase - and post-purchase behavior
Ease of Entry
Prototype Stores
Hidden Assets
Consumer Decision Process
34. Appeals to price-conscious consumers - who must be members to shop there
Assets
Mergers
Membership (Warehouse) Club
Debit Card System
35. 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
Central Business District
Logistics
Selective Distribution
Wheel of Retailing
36. A consumer uses each step in the purchase process but does not spend a great deal of time on each of them
Sorting Process
Prototype Stores
Diversified Retailer
Limited Decision Making
37. Attracts independents because of low capital requirements and relatively simple licensing provisions for many small retail firms. leads to intense competition
Ease of Entry
Yield Management Pricing
Inventory Management
Weighted Application Blank
38. Describes how traditional family moves from bachelorhood to children to solitary retirement
Order-Getting Salesperson
Family Life Cycle
Downsizing
Net Sales
39. 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
Visual Merchandising
Equal Store Organization
Independent
Electronic Data Interchange (EDI)
40. The manner of providing a job environment that encourages employee accomplishment
Equal Store Organization
Initial Markup
Supervision
Partnership
41. Whereby prices are marked only on shelves or signs and not on individual items
Memorandum Purchase
Minimum-Price Laws
Post-Purchase Behavior
Item Price Removal
42. Whereby the retailer uses differentiated marketing and develops focused retail strategy mixes for specific customer segments - sometimes fine tuned for the individual shopper
Geographical Information System
Micromarketing
Diversification
Simulation
43. Avoids the problems of infrequent financial alaysis by keeping a running total of the value of all inventory on hand at cost at a given time
Personal Selling
Tactics
Supermarket
Book (Perpetual) Inventory System
44. A manufacturer and a retailer or a wholesales and a retailer share an ad
Secondary Trading Area
All-You-Can-Afford Method
Vertical Cooperative Advertising Agreement
Job Analysis
45. Exhibits heavier - bulkier items than a rack holds
Price Elasticity of Demand
Sales-Productivity Ratio
Destination Retailer
Case Display
46. Systematically examines and evaluates a firm's total retailing effort or a specific aspect of it
Retail Audit
PMs (Promotional or Push Monies)
Markdown
Regional Shopping Center
47. A method of storing and remotely retrieving data using devices called RFID tags or trandponders
Rented-Goods Services
RFID (radio frequency identification)
Retail Balance
Yield Management Pricing
48. 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
Independent
Bottom-Up Space Management Approach
Leader Pricing
Franchising
49. Consists of the activities involved in acquiring particular goods and/or services and making them available at the places - times - and prices and in the quantity that enable a retailer to reach its goals
Uncontrollable Variables
Simulation
Point-of-Purchase Display
Merchandising
50. Any communication that fosters a favorable image for the retailer among it publics (consumers - investors - government - channel members - employees - and the general public)
Floor-Ready Merchandise
Public Relations
Dump Bin
Efficient Consumer Response (ECR)