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. Places displays and aisles in a rectangular or gridiron pattern - used for food retailers - discount stores - drugstores - hardware stores and stationary stores






2. Whereby a retailer sells to consumers through multiple retails formats (points of contact)






3. The efficient and effective implementation of the policies and tasks necessary to satisfy the firm's customers - employees - and management






4. Whereby goods owned by consumers are repaired - improved - or maintained






5. Arise when consumers buy products and/or brands they had not planned on buying before entering a store - reading a mail-order catalog - seeing a TV shopping show - turning to the Web and so forth






6. The optimum site for a particular store






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






8. Entails the collection and analysis of information relating to specific issues or problems facing a retailer






9. The cost of running a retail business






10. Large retailers seek to reduce competition by selling goods and services at very low prices - thus causing small retailers to go out of business






11. One member of the distribution channel dominates the decisions made in that channel due to the power it possesses






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






13. When a retailer looks at data that have been gathered for purposes other than addressing the issue or problem currently under study






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






15. A firm uses current and past budgets as guides and adds to or subtracts from them to arrive at the coming period's expenditures






16. Traditional means of trading-area delineation. establishes a point of indifference between two cities or communities - so the trading area of each can be determined - more consumers go to the larger city/community because there are more stores and wo

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17. 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






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






19. The sensitivity of customers to price changes in terms of the quantities they will buy - because there is a relationship between price and consumer purchases and perceptions






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






21. When a retailers acts in a trustworthy - fair - honest and respectful manner with each of its constituencies






22. Used by both large and small retailers so they can efficiently process transactions and monitor inventory






23. the drive within people to attain work-related goals - can be positive or negative






24. Short-run decisions that are made and enacted for each controllable part of the strategy and encompasses a retailers daily and short term operations






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






26. An agreement among manufacturers - wholesalers or retailers to set prices. these agreements are illegal under the Sherman Antitrust Act and Federal Trade Commission Act






27. Relates to the quantites of merchandise a retailer handles during a stated period






28. Graphically displays its hierarchical relationships created by a retailer






29. A retailers carries complementary goods and services to encourage shoppers to buy more






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






31. Involves recruiting - selecting - training - compensating - and supervising personnel in a manner consistent with the retailer's organization structure and strategy mix






32. Customer orientation - coordinated effort - value driven and goal orientation






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






34. Appeals to price-conscious consumers - who must be members to shop there






35. 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






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






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






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






39. 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






40. The manner of providing a job environment that encourages employee accomplishment






41. Whereby prices are marked only on shelves or signs and not on individual items






42. Whereby the retailer uses differentiated marketing and develops focused retail strategy mixes for specific customer segments - sometimes fine tuned for the individual shopper






43. Avoids the problems of infrequent financial alaysis by keeping a running total of the value of all inventory on hand at cost at a given time






44. A manufacturer and a retailer or a wholesales and a retailer share an ad






45. Exhibits heavier - bulkier items than a rack holds






46. Systematically examines and evaluates a firm's total retailing effort or a specific aspect of it






47. A method of storing and remotely retrieving data using devices called RFID tags or trandponders






48. A retailer advertises and sells selected items in its goods/service assortment at less than the usual profit margins. goal is to increase customer traffic for the retailer so that it can sell other regularly prices goods






49. 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






50. Any communication that fosters a favorable image for the retailer among it publics (consumers - investors - government - channel members - employees - and the general public)