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. Performs all of the tasks of a computerized checkout and verifies check and charge transactions - provides instantaneous sales reports - monitors and changes prices - sends intra- and inter- store messages - evaluates personnel and profitability and






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






3. Refers to items that are received at the store in condition to be put directly on display without any preparation by retail workers






4. Aiming at two or more distinct consumer groups - with different retailing approaches for each group






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






6. Handles an assortment of inexpensive and popularly prices goods and services - such as apparel and accessories - costume jewelry - notions and small wares - candy - toys - and other items in the price range






7. Used for products needing special handling






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






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






10. Exhibits heavier - bulkier items than a rack holds






11. When ending inventory - recorded at cost - is measured by counting the merchandise in stock at the end of a selling period






12. Where a consumer must pay the bill in full when it is due






13. Paid - nonpersonal communication transmitted through out-of-store mass media by an ideantified sponsor






14. 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






15. Appeals to the consumer's urge to buy product and the amount of time she or he is willing to spend on shopping






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






17. A candid evaluation of the opportunities and threats facing a prospective or existing retailer






18. An unplanned shopping area compromising of group retail stores - often with similar or compatible product lines - located along a street or highway






19. Depicts a product offering in a thematic manner and sets a specific mood






20. The difference between planned purchases and the purchase commitments already made by a buyer for a given period - often a month






21. Places displays and aisles in a free-flowing pattern - used for department stores - apparel stores - and other shopping-oriented stores






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






23. A computerized - demand-based - variable pricing technique whereby a retailer determines the combination of prices that yield the greatest total revenues for a given period (widely used by airlines and hotels)






24. Whereby a service retailer does not get paid until after the service is performed and payment is contingent on the service's being satisfactory






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






26. Involves a clear statement of the topic to be studied






27. A type of experiment whereby a computer program is used to manipulate the elements of a retail strategy mix rather than test them in a real setting






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






29. Has a primarily functional use: to neatly hang or present products






30. Especially low prices are negotiated for merchandise whose sales have not lived up to expectations - end of season goods - items consumers have returned to the manufacturer or another retailer and closeouts






31. 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






32. The activity whereby a retailer generates a list of job applicants






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






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






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






36. 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






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






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






39. A technique that enables a retailer to find the profitability of each category or merchandise by computing adjusted per-unit gross margin and assigning direct product costs for such expense categories as warehousing - transportation - handling - and






40. A format whereby multiple outlets conform to relatively uniform construction - layout and operations standards






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






42. A retailers best customers






43. Retailers price selected items below cost to lure more customer traffic for those retailers






44. A food-based discounter that focuses on a small selection of items - moderate hours of operation - few services and limited manufacturer brands






45. 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






46. Type of retail institution in which a retailer operates multiple outlets (store units) under common ownership; it usually engages in some level of centralized purchasing and decision making






47. A listing of bipolar adjectives scales






48. Performs routine clerical and sales functions - setting up displays - stocking shelves - answering simple questions and ringing up sales






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






50. Involves both the use of automatic teller machines (ATMs) and the instant processing of retail purchases. it allows centralized record keeping and lets customers complete transactions whenever they want