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. When a retailer gathers - integrates - applies - and stores information related to specific subject areas






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






3. Out-of-hometown shopping - is important for both local and surrounding retailers






4. A firm structures and assigns tasks - policies - resources - authority - responsibilities - and rewards to efficiently and effectively satisfy the needs of its target market - employees and management






5. A "geographic area containing the customers of a particular firm or group of firms for specific goods or services"






6. 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






7. Beginning inventory - purchases - and transportation charges equal the cost of this






8. 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






9. All of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer






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






11. A retail firm that is formally incorporated under state law






12. Actively involved with informing and persuading customers in closing sales






13. Based on the principle that each customer has different wants; thus - a sales presentation should be geared to the demands of the individual customer






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






15. A cash or card operated retailing format that dispenses goods and services






16. Influence people's thought and behavior such as families - aspirational groups and membership groups






17. The mix of stores within a district or shopping center






18. 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






19. Places together various items that appeal to a given target market






20. A retailer projects the future by studying factors that affect long -run performance and then forms contingency plans based on alternative scenarios






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






22. The reasons for a consumers behavior






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






24. A group of retailers gets together to make quantity purchases from supplier and obtain volume discounts






25. A positioning approach whereby retailers offer a discount or value-oriented image - a wide and/or deep merchandise selection and large store facilities






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






27. Feature products' generic names as brands; they are no-frills goods stocked by some retailers






28. A version of customary pricing in which a retailer strives to sell goods and services at consistently low prices throughout the selling season






29. Retail prices are set at levels below even dollar values; the assumption is that people feel these prices represent discounts or that the amounts are beneath consumer price ceilings






30. Compromises all the parties that develop - produce - deliver and sell and service particular goods and services






31. Retailers hire people to pose as customers and observe their operations - from sales presentations to how well displays are maintained to service calls






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






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






34. A sequence of steps that consumers go through - which takes them from awareness to knowledge to liking to preference to conviction to purchase






35. A retailer clearly defines its promotion goals and prepares a budget to satisfy them. determines the tasks and costs required to achieve that goal (best budgeting method)






36. The selection of merchandise a retailer carries - includes both the breadth of product categories and the variety within each category






37. A sign that displays the store's name






38. Graphically displays its hierarchical relationships created by a retailer






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






40. Available from sources outside the firm






41. 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






42. A retailer devises its strategy in a way that projects an image relative to its retail category and its competitors and that elicits a positive consumer response






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






44. A form of multi-channel retailing which engages in more than one type of distribution arrangement






45. An unplanned shopping area that appeals to the convenience shopping and service needs of a single residential area






46. Retailers and suppliers regularly exchange information through their computers with regard to inventory levels - delivery times - unit sales and so on of a particular item






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






48. A food-based discounter offering a moderate number of food items in a no-frills setting






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






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






Search BasicVersity Tests



OR

Browse BasicVersity