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. 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






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






3. A merchandising technique that some firms use to improve productivity






4. The customer group sought by a retailer






5. Consists of these interrelated personnel activities: recruitment - selection - training - compensation and supervision. the goals are to obtain - develop and retain employees






6. An unplanned shopping area in a city or town that is usually bounded by the intersection of two major streets






7. Assigns floor space on the basis of sales or profit per foot






8. 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






9. Short-term selling and administrative costs in running a business






10. A form of revolving account; no interest is assessed if a person pays a bill in full when it is due. when a person makes a partial payment - he or she is assessed interest monthly on the unpaid balance






11. Financial obligations a retailer incurs in operating a business






12. A self-service food store with grocery - meat - and produce departments and minimum annual sales of $2 million






13. A retailer purposely adjusts markups by merchandise category






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






15. Environmental and marketplace factors that can adversely affect retailers if they do not react to them






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






17. An open air shopping site that typically includes 150 -000 to 500 -000 square feet of space dedicated to upscale - well-known specialty stores






18. A global electronic superhighway of computer networks that use a common protocol and that are linked by telecommunication lines and satellite






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






20. A type of retail institution in which a retailers owns one retail unit






21. A retailer's promotion budget is raised or lowered based on competitors actions; if the leading competitor raises its budget - other retailers in the area may follow






22. Takes place when the consumer buys out of habit and skips steps in the purchase process






23. Represents the total bundle of benefits offered to consumers through a channel of distribution






24. Suppliers sell through a moderate number of retailers






25. Concentrates on selling one goods or service line - such as young women's apparel






26. Whereby suppliers sell through as many retailers as possible






27. Takes a customer-centered approach and presents "solutions" rather than "products"






28. Converts shopping from a passive activity into a more interactive one - by better engaging customers






29. The overall plan guiding a retail firm






30. When two or more retailers or a manufacturers/wholesalers share the advertising costs






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






32. Whereby retailers seek to establish and maintain long-term bonds with customers - rather than act as if each sales transaction is completely new encounter






33. 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






34. 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






35. Equals the cost of merchandise available for sale minus the cost value of ending inventory






36. Attracts independents because of low capital requirements and relatively simple licensing provisions for many small retail firms. leads to intense competition






37. 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






38. Awkward spaces where normal displays cannot be set up like light fixtures - wood or metal beams - doors - rest rooms - dressing rooms and vertical transportation






39. A listing of bipolar adjectives scales






40. Describes how traditional family moves from bachelorhood to children to solitary retirement






41. A manufacturer may sometimes help fund personal selling in addition to regular salesperson compensation






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






43. Refers to the stores physical characteristics that project an image and draw customers - a retailers signs - sounds - smalls and other physical attributes






44. The process by which people determine whether - what - when - where - how - from whom - and how often to purchase goods and services






45. A visual (graphical) representation of the space for selling - merchandise - personnel and customers - as well as for product categories which lays out the in-store placement






46. Whereby the purchase price is immediately deducted from a consumer's bank account and entered into a retailer's account through a computer terminal






47. Distinctive heritage shared by a group of people that passes on a series of beliefs - norms and customs






48. Outlines a retailer's planned expenditures for a given time based on expected performance






49. Payments that retailers require of vendors for providing shelf space






50. Calls for precise rent increases over a stated period of time






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