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Retail Management
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Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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study here
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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. Exhibits a wide range or merchandise encouraging the customer to feel - look at and/or try on products
Basic Stock Method
Assortment Display
Retail Strategy
Consumer Behavior
2. A listing of bipolar adjectives scales
Basic Stock List
Semantic Differential
Retail Life Cycle
Goal-Oriented Job Description
3. A company compares its actual performance against its potential performance and then determines the areas in which it must improve
Gap Analysis
Leader Pricing
Frequency
Channel of Distribution
4. Graphically displays its hierarchical relationships created by a retailer
Core Customers
Ethics
Organization Chart
Maintained Markup
5. Mazur plan derivative in which buying is centralized and branches become sales units with equal operational status
Category Killer
Equal Store Organization
Top-Down Space Management Approach
Internet
6. Refers to the variety in any one good/service (product line) a retailer carries
Depth of Assortment
Revolving Credit Account
Liabilities
World Wide Web
7. Based on the original retail value assigned to merchandise less the costs of the merchandise
Diversified Retailer
Never-Out List
Memorandum Purchase
Initial Markup
8. Usually the first tool used to screen applications; providing data on education - experience - health - reasons for leaving prior jobs - outside activities - hobbies and references
Application Blank
Strategy Mix
Basic Stock Method
Target Marketing
9. Prevent retailers from selling certain items for less than their cost plus a fixed percentage to cover overhead
Minimum-Price Laws
Direct Product Profitability (DPP)
Probability (Random) Sample
Analog Model
10. Products are marked with a series of thick and thin vertical lines - representing each item's identification code
Marketing Research In Retailing
Direct Product Profitability (DPP)
Universal Product Code (UPC)
Outshopping
11. Used by retailers that promote seasonally
Pre-Training
Discretionary income
Customary Pricing
Massed Promotion Effort
12. The customer group sought by a retailer
Data-Base Retailing
Target Marketing
Net Lease
Zero-Based Budgeting
13. Analyzes a firm's overall performance - from the organizational mission to goals to customer satisfaction to the basic retail strategy mix and its implementation in an integrated - consistent way
Horizontal Price Fixing
Financial Merchandise Management
Reach
Horizontal Retail Audit
14. Mandates that persons with disabilities be given appropriate access to retailing facilities
Americans With Disabilities Act
Net Profit After Taxes
Core Customers
Extended Decision Making
15. Available within the company - sometimes from the data bank of a retail information system
Inventory Management
Top-Down Space Management Approach
Service Retailing
Internal Secondary Data
16. Where the same customers are served by both branches
Operations Management
Personality
Trading Area Overlap
Robinson-Patman Act
17. Exists when a person regularly patronizes a particular retailer that he or she knows - likes - and trusts
Uncontrollable Variables
Customer Loyalty
Basic Stock Method
Job Motivation
18. Financial obligations a retailer incurs in operating a business
Observation
Liabilities
Primary Data
Problem Awareness
19. The average number of times each person reached is exposed to a retailers promotion efforts in a specific period
Atmosphere (atmospherics)
Frequency
Stimulus
LIFO (last-in-first-out) Method
20. Sets the guiding principles for all the merchandise decisions a retailers makes
Warehouse Store
Cross-Shopping
Vendor-Managed Inventory (VMI)
Merchandising Philosophy
21. Feature brand-name apparel and accessories - footwear - linens - fabrics - cosmetics - and/or housewares and sells them at everyday low prices in an efficient - limited-service environment
Off-Price Chain
Factory Outlet
Central Business District
Competitive Parity Method
22. Outlines the job interactions within a company by describing the reporting relationships among employees (from the lowest level to the highest level)
Hierarchy of Authority
Consumer Loyalty (Frequent Shopper) Programs
Quick Response (QR) Inventory Planning
Traditional Department Store
23. A program-length TV commercial for a specific good or service that airs on cable or broadcast television - often at fringe time
Gap Analysis
Retail Life Cycle
Infomercial
Balanced Tenancy
24. Whereby prices are marked only on shelves or signs and not on individual items
Leased Department
Item Price Removal
Distributed Promotion Effort
Point of Difference
25. The service level that customers want to receive from any retailer - such as basic employee courtesy
Employee Empowerment
String
Expected Customer Service
Product Life Cycle
26. Caused by employee theft - customer shoplifting - vendor fraud and administrative errors
Demographics
Niche Retailing
Bait-and-Switch Advertising
Inventory Shrinkage
27. Attracts independents because of low capital requirements and relatively simple licensing provisions for many small retail firms. leads to intense competition
Augmented Customer Service
Secondary Business District (SBD)
Ease of Entry
Multiple-Unit Pricing
28. Whereby a retailer sells to consumers through one retail format - may be store-bsed or non-store based
Budgeting
Electronic Point of Sale System
Single-Channel Retailing
Marquee
29. Doubt that the correct decision has been made
Maintenance-Increase-Recoupment Lease
Assortment Display
Net Sales
Cognitive Dissonance
30. Influence people's thought and behavior such as families - aspirational groups and membership groups
Differentiated Marketing
Nonstore Retailing
Reference Groups
Data-Base Management
31. A retailers ets prices by adding per-unit merchandise costs - retail operating expenses and desired profit
Equal Store Organization
Efficient Consumer Response (ECR)
Markup Pricing
Odd Pricing
32. A memorized - repetitive speech given to all customers interested in a particular item
Consumer Decision Process
Direct Product Profitability (DPP)
Canned Sales Presentation
Resident Buying Office
33. Consists of all the levels of independently owned businesses along a channel of distribution
Variety Store
Width of Assortment
Attitudes (Opinions)
Vertical Marketing System
34. Incorporates life stages for both family and non-family households
Household Life Cycle
RFID (radio frequency identification)
Maintenance-Increase-Recoupment Lease
Robinson-Patman Act
35. The process of deciding and the factors affecting the process. - stimulus - problem awareness - information search - evaluation of alternatives - purchase - and post-purchase behavior
Order-Taking Salesperson
Direct Product Profitability (DPP)
Consumer Decision Process
Zero-Based Budgeting
36. A shopping site with (1) up to a half-dozen or so category killer stores and a mix of smaller stores and (2) several complementary stores specializing in one product category
Data Warehousing
Power Center
Inventory Management
Lifestyles
37. 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
PMs (Promotional or Push Monies)
Dollar Control
Hierarchy of Effects
Outsourcing
38. 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
Attitudes (Opinions)
Objective-and-Task Method
Merchandising
Gross Margin
39. A food-based discounter offering a moderate number of food items in a no-frills setting
Fad Merchandise
Warehouse Store
Prototype Stores
Job Motivation
40. Occurs when the value and customer services provided through a retailing experience meet or exceed consumer expectations
Cut Case
Specialty Store
FIFO (first-in-first-out) Method
Customer Satisfaction
41. The process by which people determine whether - what - when - where - how - from whom - and how often to purchase goods and services
Prototype Stores
Functional Product Groupings
Feedback
Consumer Behavior
42. A retailer carries more items than expects to sell over a specified period
Robinson-Patman Act
Dual Marketing
Basic Stock Method
Routine Decision Making
43. All of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer
Nongoods Services
Channel of Distribution
Personal Selling
Consumer Decision Process
44. Consists of apparel - furniture - autos - and other products for which the retailer must carry a variety of products in order to give customers a proper selection
Top-Down Space Management Approach
Model Stock Approach
Vertical Cooperative Advertising Agreement
Assortment Merchandise
45. Embodied by a series of activities and processes that provides a certain value for the consumer
Yield Management Pricing
Value Delivery System
Value (retailer)
Resident Buying Office
46. 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
Theme-Setting Display
Hierarchy of Authority
Retail Strategy
Balanced Tenancy
47. Enumerates basic functions - the relationship of each job to overall goals - the interdependence of positions and information flows
Retail Institution
Total Retail Experience
Organizational Mission
Goal-Oriented Job Description
48. Systematically examines and evaluates a firm's total retailing effort or a specific aspect of it
Consumer Decision Process
Retail Audit
Micromerchandising
Operating Expenses
49. Increases an item's original price because demand is unexpectedly high or costs are rising
Traditional Department Store
Ethics
Price Lining
Additional Markup
50. Appeals to price-conscious consumers - who must be members to shop there
Contingency Pricing
Graduated Lease
Cut Case
Membership (Warehouse) Club
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