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






2. The hub of retailing in a city. synonymous with the term downtown. exists where there is the greatest density of office buildings and stores






3. A complete bundle product (ensemble) is presented - rather than showing merchandise in separate categories






4. The business activities involved in selling goods and services to consumers for their personal - family - or household use






5. Whereby unprofitable stores are closed or divisions are sold off - by retailers unhappy with performace






6. Acquires and maintains a proper merchandise assortment while ordering - shopping - handling - storing - displaying and selling costs are kept in check






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






8. 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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9. 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






10. A retailer sets prices for goods and services and seeks to maintain them for an extended period






11. The efficiency with which a retail strategy is carried out






12. 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






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






14. A large retail unit with an extensive assortment of goods and services that is organized into separate departments for purposes of buying promotion - customer service - and control






15. Theory that retail innovators often first appear as low-price operators with low costs and low profit margin requirements






16. Signals or cues as to the success or failure of that each part of the strategy






17. The process of deciding and the factors affecting the process. - stimulus - problem awareness - information search - evaluation of alternatives - purchase - and post-purchase behavior






18. Performs routine clerical and sales functions - setting up displays - stocking shelves - answering simple questions and ringing up sales






19. Any nonpersonal form of public relations whereby messages are transmitted through mass media - the time or space provided by the media is not paid for - and there is no identified commercial sponsor






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






21. The average number of times each person reached is exposed to a retailers promotion efforts in a specific period






22. A consumer may engage in behavior after purchasing a product that falls into two categories: further purchases or re-evaluation






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






24. Consists of products that sell well over nonconsecutive time periods






25. Whereby suppliers sell through as many retailers as possible






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






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






28. A formal way to record consumer requests for unstocked for out-of-stock merchandise






29. Contains a position's title - relationships (superior and subordinate) - and specific roles and tasks






30. Whereby retailers - at their sole discretion - make deductions in their bills for infractions - ranging from late shipments to damages and expired goods






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






32. 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






33. The optimum site for a particular store






34. 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






35. 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






36. The activity whereby a retailer generates a list of job applicants






37. A retailer specifies which products (goods and services) are purchased - when products are purchased - and how many products are purchased






38. Used for products needing special handling






39. Era we in now - death of the middle market. Mass merchandising and niche retailing are popular






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






41. Contains an additional 15 to 25 percent of a stores customers; located outside of the primary area - and customers are more widely dispersed






42. A program-length TV commercial for a specific good or service that airs on cable or broadcast television - often at fringe time






43. Laws whereby some retailers must express both the total price of an item and its price per unit of measure






44. Displays merchandise by common end use






45. A retailers ets prices by adding per-unit merchandise costs - retail operating expenses and desired profit






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






47. Logically assumes old merchandise is sold first - while newer items remain in inventory






48. Where a customer charges items and is billed monthly on the basis of outstanding cumulative balance






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






50. The number of distinct people exposed to a retailers promotion efforts in a specific period