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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. Encompasses the paid communication activities other than advertising - public relations and personal selling that stimulate consumer purchases and dealer effectiveness






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






3. 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






4. A typically well-located - food-oriented retailer that is open long hours and carries a moderate number of items






5. A retailers commitment to a type of business and to a distinctive role in the marketplace






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






7. Assumes that consumers will not buy goods and services at prices deemed too low; a low price means poor quality and status






8. The sum total of an individuals traits - which make that individual unique






9. Is a cue (social or commercial) or a drive (physical) meant to motivate or arouse a person to act






10. 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






11. Ordering can be computerized and mechanically activated when stock-on-hand reaches the reorder point






12. The optimum site for a particular store






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






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






15. Represents how a given retailer is perceived by consumers and others






16. An inside or outside organization that is used when a retailer wants to keep in close touch with key market trends and cannot do so through just headquarters buying staff






17. Software which combines digitized mapping with key locational data to graphically depict trading-area characteristics such as population demographics; data on consumer purchases; and listings of current - proposed and competitor locations






18. A moderate-sized - planned shopping facility with a branch department store (traditional or discount) and/or a category killer store - as well as several smaller stores






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






20. Whereby consumers lease and use goods for specified periods of time






21. 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






22. 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






23. A sign that displays the store's name






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






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






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






27. Rates the promise of new and established goods - services - procedures - and/or store outlets across a variety of criteria






28. Available within the company - sometimes from the data bank of a retail information system






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






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






31. Increases an item's original price because demand is unexpectedly high or costs are rising






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






33. 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






34. The difference between net sales and the total cost of goods sold






35. The service level that customers want to receive from any retailer - such as basic employee courtesy






36. A departmentalized food store with a wide range of food and related products; sales of general merchandise are rather limited






37. A retailer adjusts shelf-space allocations to respond to customer and other differences among local markets






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






39. Encompasses 50 to 80 percent of a store's customers; the area closest to he store and possesses the highest density of customers to population and the highest per capita sales






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






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






42. Bars manufacturers and wholesalers from discriminating in price or purchase terms in selling to individual retailers if these retailers are purchasing products of "like quality" and the effect of such discrimination is to injure competition






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






44. Determining the alternative that will solve the problem at hand and ascertaining the characteristics of each alternative






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






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






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






48. Competition between manufacturers and retailers for shelf space and profits






49. Service that includes the activities that enhance the shopping experience and give retailers a competitive advantage






50. Aka store brands; contains names designated by wholesales or retailers - are more profitable to retailers - are better controlled by retailers - are not sold by competing retailers - are less expensive for consumer and lead to customer loyalty to ret







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