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. Is a cue (social or commercial) or a drive (physical) meant to motivate or arouse a person to act
Augmented Customer Service
Job Motivation
Stimulus
Predatory Pricing
2. A retailers ets prices by adding per-unit merchandise costs - retail operating expenses and desired profit
Independent
Markup Pricing
Customer Satisfaction
Geographical Information System
3. A manufacturer may sometimes help fund personal selling in addition to regular salesperson compensation
PMs (Promotional or Push Monies)
Maintained Markup
Non-probability Sample
Memorandum Purchase
4. Service that includes the activities that enhance the shopping experience and give retailers a competitive advantage
Consumer Cooperative
Rented-Goods Services
Selective Distribution
Augmented Customer Service
5. The perception the shopper has of a value chain. the customers view of all the benefits from a purchase
Physical Inventory System
Infomercial
Value (customer)
Americans With Disabilities Act
6. Mandates that persons with disabilities be given appropriate access to retailing facilities
Vertical Cooperative Advertising Agreement
Americans With Disabilities Act
Corporation
Weeks' Supply Method
7. A retailers carries complementary goods and services to encourage shoppers to buy more
Affinity
Price Elasticity of Demand
Cross-Merchandising
Fringe Trading Area
8. A retailers commitment to a type of business and to a distinctive role in the marketplace
Semantic Differential
RFID (radio frequency identification)
Geographical Information System
Organizational Mission
9. The amount a retailer pays to acquire the merchandise sold during a given time period. it is based on purchase prices and freight charges - less all discounts
Floor-Ready Merchandise
Cost of Goods Sold
Assortment Merchandise
Advertising
10. The business activities involved in selling goods and services to consumers for their personal - family - or household use
Robinson-Patman Act
Word of Mouth (WOM)
Quick Response (QR) Inventory Planning
Retailing
11. Places together various items that appeal to a given target market
Debit Card System
Flexible Pricing
Market Segment Product Groupings
Forecasts
12. Lets consumers bargain over prices; those who are good at it obtain lower prices
Want Book (Want Slip)
Flexible Pricing
Neighborhood Business District
Downsizing
13. 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
Full-Line Discount Store
Staple Merchandise
Vertical Retail Audit
Fashion Merchandise
14. Programs to combine a high degree of centralized management control with strict operating procedures for every phase of the business
Sales-Productivity Ratio
Rationalized Retailing
Social Responsibility
Private (dealer) Brands
15. Assumes that consumers will not buy goods and services at prices deemed too low; a low price means poor quality and status
Non-probability Sample
Owned-Goods Services
Monthly Sales Index
Prestige Pricing
16. The average number of times each person reached is exposed to a retailers promotion efforts in a specific period
Secondary Business District (SBD)
Frequency
Horizontal Retail Audit
Consumer Behavior
17. A planned shopping facility - with the largest store being a supermarket or a drugstore
Control
Service Retailing
Neighborhood Shopping Center
Rationalized Retailing
18. A memorized - repetitive speech given to all customers interested in a particular item
Stimulus
Canned Sales Presentation
Diversification
Depth of Assortment
19. A retailer sets prices based on consumer desires; at the top is the demand ceiling - the most that people will pay for a good/service
Reach
Consumer Cooperative
Issue (problem) Definition
Demand-Oriented Pricing
20. A customer is first exposed to a good or service through a non-personal medium and then orders by mail - phone - fax or computer
Regression Model
Direct Marketing
Cost of Goods Sold
Goods/Service Category
21. Based on the premise that people are drawn to stores that are closer and more attractive than competitor's stores
Trading Area Overlap
Value Chain
Operations Management
Gravity Model
22. An agreement among manufacturers - wholesalers or retailers to set prices. these agreements are illegal under the Sherman Antitrust Act and Federal Trade Commission Act
Basic Stock List
Horizontal Price Fixing
Secondary Business District (SBD)
Ethics
23. Whereby consumers lease and use goods for specified periods of time
Operating Expenses
Rented-Goods Services
Item Price Removal
Single-Channel Retailing
24. Whereby a retailer sells to consumers through one retail format - may be store-bsed or non-store based
Single-Channel Retailing
Solution Selling
Franchising
Lifestyles
25. Concept that states that retail institutions - like the goods and services they sell - pass through identifiable life stages: introduction - growth - maturity and decline
Independent
Bottom-Up Space Management Approach
Percentage-of-Sales Method
Retail Life Cycle
26. Used by retailers that promote seasonally
Dead Areas
Massed Promotion Effort
RFID (radio frequency identification)
Incremental Method
27. A sign that displays the store's name
Sorting Process
Direct Selling
Vending Machine
Marquee
28. A group of retailers gets together to make quantity purchases from supplier and obtain volume discounts
Rack Display
Cooperative Buying
External Secondary Data
Semantic Differential
29. Occurs when a retailers adds goods and services that may be unrelated to each other and to the firm's original business
Business Format Franchising
Community Shopping Center
Scrambled Merchandising
Theme-Setting Display
30. When a retailer gathers - integrates - applies - and stores information related to specific subject areas
Percentage Variation Method
Operating Expenditures
Gravity Model
Data-Base Management
31. The line of business in which a retailer operates
Goods/Service Category
Basic Stock List
Hierarchy of Effects
Consumer Behavior
32. Whereby goods owned by consumers are repaired - improved - or maintained
Value (customer)
Unit Control
Budgeting
Owned-Goods Services
33. A type of department store that has a clear customer focus on middle class and lower-middle-class shoppers looking for good value
Word of Mouth (WOM)
Full-Line Discount Store
Chain
Operations Blueprint
34. Focuses on the sale in which consumers do not purchase or acquire ownership of tangible products
Gap Analysis
Variety Store
Service Retailing
Net Worth
35. Has a provision allowing rent to increase if a property owner's taxes - heating bills - insurance or other expenses rise beyond a certain point
Huff's Law of Shopper Attraction
Retail Institution
Opportunistic Buying
Maintenance-Increase-Recoupment Lease
36. A way to control inventory investment by systematically set stock levels at which new orders must be placed; based on three factors - order lead time - usage rate and safety stock (lead time * usage rate) + safety stock
Reorder Point
Revolving Credit Account
Dual Marketing
Consignment Purchase
37. A retailers best customers
Horizontal Retail Audit
Data-Base Retailing
Core Customers
Retail Balance
38. A retailer offers discounts to customers who buy in quantity or who buy a product bundle
Training Programs
LIFO (last-in-first-out) Method
Multiple-Unit Pricing
Cost of Method Accounting
39. Involve the combination of separately owned retail firms
HRM Process
Width of Assortment
Flexible Pricing
Mergers
40. The sum total of an individuals traits - which make that individual unique
Personality
Rack Display
Price Lining
Bottom-Up Space Management Approach
41. Merchandise that generates high sales over a short time
Net Worth
Social Class
Supercenter
Fad Merchandise
42. Involves a clear statement of the topic to be studied
Outsourcing
Issue (problem) Definition
Internet
Retail Promotion
43. When ending inventory - recorded at cost - is measured by counting the merchandise in stock at the end of a selling period
Goal-Oriented Job Description
Physical Inventory System
Publicity
Predatory Pricing
44. Whereby retailers seek to establish and maintain long-term bonds with customers - rather than act as if each sales transaction is completely new encounter
Relationship Retailing
Operations Blueprint
Information Search
Basic Stock List
45. Focuses on the sale of tangible phoducts
Economic Base
Opportunity Costs
Constrained Decision Making
Goods Retailing
46. The activity whereby a retailer generates a list of job applicants
Internet
Issue (problem) Definition
Recruitment
Goods Retailing
47. Financial obligations a retailer incurs in operating a business
Variable Pricing
Organization Chart
Flea Market
Liabilities
48. An unincorporated retail firm owned by two or more persons - each with a financial interest
Partnership
Theme-Setting Display
Secondary Data
Dump Bin
49. The hub of retailing in a city. synonymous with the term downtown. exists where there is the greatest density of office buildings and stores
Vertical Price Fixing
Class Consciousness
Central Business District
Fashion Merchandise
50. The efficiency with which a retail strategy is carried out
Cross-Merchandising
Competition-Oriented Pricing
Productivity
Off-Price Chain