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






2. Used for products needing special handling






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






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






5. The difference between net sales and the cost of goods sold; it consists of operating expenses plus net profit






6. Retailers become active in businesses outside their normal operations - and add stores in different goods/service categories






7. The possible benefits a retailer forgoes if it invests in one opportunity rather than another






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






9. Whereby copies of all the data bases in a firm are maintained in one location and are accessible to employees at any locale






10. A review takes place in which the strategy and tactics are assessed against the business mission - objectives and target market






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






12. When a retailer looks at data that are collected to address the specific issue or problem under study






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






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






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






16. A retailer specifies which products (goods and services) are purchased - when products are purchased - and how many products are purchased






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






18. 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






19. When stores at a given location complement - blend - and cooperate with one another - and each benefits from the others' presence; when it is strong - the sales of each store are greater due to the high customer traffic






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






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






22. A catalog in which a retailer caters to a particular customer segment - emphasizes a limited number of items - and reduces production and postage costs






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






24. 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






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






26. 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






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






28. Money left after paying taxes and buying necessities






29. Whereby a retailer reduces the amount of inventory it holds by ordering more frequently and in lower quantity






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






31. Refers to the variety in any one good/service (product line) a retailer carries






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






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






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






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






36. A multi-line firm operating under central ownership






37. Assets minus liabilities; aka owner's equity and represents the value of a business after deducting all financial obligations






38. Lower price than the original is used to meet the lower price of another retailer - adapt to inventory overstocking - clear out shopworn merchandise - reduce assortments of odds and ends - and increase customer traffic






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






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






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






42. Whereby franchisors limit franchisee involvement in the strategic planning process






43. Stipulates that rent is related to sales or profits; protects a property owner against inflation and lets it benefit if a store is successful






44. 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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






46. Delineates trading areas on the basis of the product assortment carried at various shopping locations - travel times from the shopper's home to alternative locations - and the sensitivity of the kind of shopping to travel time

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






48. 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






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






50. Whereby retailers - at their sole discretion - make deductions in their bills for infractions - ranging from late shipments to damages and expired goods







Sorry!:) No result found.

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