SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Retail Management
Start Test
Study First
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. Assumes new merchandise is sold first - while older stock remains in inventory
LIFO (last-in-first-out) Method
Leader Pricing
Post-Purchase Behavior
Full-Line Discount Store
2. Whereby goods owned by consumers are repaired - improved - or maintained
Stimulus
Differentiated Marketing
Retail Institution
Owned-Goods Services
3. A type of retail institution that is a department in a retail store that is rented to an outside party
Robinson-Patman Act
Leased Department
Cooperative Advertising
Retail Promotion
4. A group of retailers gets together to make quantity purchases from supplier and obtain volume discounts
Consumer Protection
Reverse Logistics
Cooperative Buying
Contingency Pricing
5. Consists of products that may have cyclical sales due to changing tastes and lifestyles
Word of Mouth (WOM)
Electronic Banking
Retailing Concept
Fashion Merchandise
6. Suppliers sell through a moderate number of retailers
Chain
Value (customer)
Merchandising
Selective Distribution
7. Whereby a retailer sells to consumers through one retail format - may be store-bsed or non-store based
Curing (Free-Flowing) Traffic Flow
Americans With Disabilities Act
Scenario Analysis
Single-Channel Retailing
8. A catalog in which a retailer caters to a particular customer segment - emphasizes a limited number of items - and reduces production and postage costs
Yield Management Pricing
Specialog
Sole Proprietorship
Word of Mouth (WOM)
9. Occurs when a retailers adds goods and services that may be unrelated to each other and to the firm's original business
Scrambled Merchandising
External Secondary Data
Human Resource Management
Inventory Shrinkage
10. Exhibits a wide range or merchandise encouraging the customer to feel - look at and/or try on products
Situation Analysis
Retail Strategy
Assortment Display
Scrambled Merchandising
11. 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
Item Price Removal
Fashion Merchandise
Chain
RFID (radio frequency identification)
12. Analyzes a firm's overall performance - from the organizational mission to goals to customer satisfaction to the basic retail strategy mix and its implementation in an integrated - consistent way
Never-Out List
Nonstore Retailing
Horizontal Retail Audit
Retail Institution
13. Appeals to price-conscious consumers - who must be members to shop there
Weighted Application Blank
Category Management
Membership (Warehouse) Club
Stock-to-Sales Method
14. A candid evaluation of the opportunities and threats facing a prospective or existing retailer
Sorting Process
Situation Analysis
Expected Customer Service
Hidden Assets
15. An unplanned shopping area that appeals to the convenience shopping and service needs of a single residential area
Channel of Distribution
Dollar Control
Convenience Store
Neighborhood Business District
16. Prevent retailers from selling certain items for less than their cost plus a fixed percentage to cover overhead
Minimum-Price Laws
Hidden Assets
Expected Customer Service
Central Business District
17. A visual (graphical) representation of the space for selling - merchandise - personnel and customers - as well as for product categories which lays out the in-store placement
Full-Line Discount Store
Retail Organization
Data Mining
Planogram
18. Out-of-hometown shopping - is important for both local and surrounding retailers
Benchmarking
Outshopping
Variety Store
Sales-Productivity Ratio
19. Mazur plan derivative in which buying is centralized and branches become sales units with equal operational status
Reach
Equal Store Organization
Differentiated Marketing
Vertical Retail Audit
20. Exists when a person regularly patronizes a particular retailer that he or she knows - likes - and trusts
Customer Loyalty
Social Responsibility
Reverse Logistics
Lifestyle Center
21. An unincorporated retail firm owned by two or more persons - each with a financial interest
Partnership
Opportunistic Buying
Unit Pricing
Full-Line Discount Store
22. Programs to combine a high degree of centralized management control with strict operating procedures for every phase of the business
Horizontal Retail Audit
Rationalized Retailing
Data-Base Management
Reach
23. Risk is still low - but a retailer takes title on delivery and is responsible for damages
Memorandum Purchase
Market Segment Product Groupings
Micromarketing
Full-Line Discount Store
24. The reasons for a consumers behavior
Corporation
Never-Out List
Motives
Inventory Management
25. Payments that retailers require of vendors for providing shelf space
Term Occupancy
Canned Sales Presentation
Slotting Allowances
Physical Inventory System
26. Performs routine clerical and sales functions - setting up displays - stocking shelves - answering simple questions and ringing up sales
Automatic Reordering System
Physical Inventory System
Forecasts
Order-Taking Salesperson
27. Service that includes the activities that enhance the shopping experience and give retailers a competitive advantage
Productivity
Retail Information System
Non-probability Sample
Augmented Customer Service
28. Where consumers shop for a product category at more than one retail format during the year OR visit multiple retailers on one shopping trip
Merchandise Available for Sale
Opportunities
Cross-Shopping
All-You-Can-Afford Method
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
Benchmarking
Cost of Goods Sold
Regression Model
Odd Pricing
30. Calls for precise rent increases over a stated period of time
Operating Expenses
Financial Merchandise Management
Concentrated Marketing
Graduated Lease
31. Paid - nonpersonal communication transmitted through out-of-store mass media by an ideantified sponsor
Trading Area Overlap
Advertising
Affinity
Simulation
32. When retailers engage in strategy mixes that are not store-based to reach consumers and complete transactions
Channel Control
Nonstore Retailing
Minimum-Price Laws
Objectives
33. Determining the alternative that will solve the problem at hand and ascertaining the characteristics of each alternative
Information Search
Zero-Based Budgeting
Human Resource Management
Employee Empowerment
34. A multi-line firm operating under central ownership
Assortment Merchandise
HRM Process
Publicity
Diversified Retailer
35. Whereby special tags are attached to products so that the tags can be sensed by electronic security devices at store exits
Benchmarking
Electronic Article Surveillance
Neighborhood Shopping Center
Social Responsibility
36. 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
Variety Store
HRM Process
Productivity
Department Store
37. Exhibits heavier - bulkier items than a rack holds
Case Display
Retail Balance
Primary Data
Zero-Based Budgeting
38. Places together various items that appeal to a given target market
Maintenance-Increase-Recoupment Lease
Market Segment Product Groupings
Efficient Consumer Response (ECR)
Theme-Setting Display
39. Assigns floor space on the basis of sales or profit per foot
Analog Model
Trading Area
Sales-Productivity Ratio
Box (Limited-Line) Store
40. The optimum site for a particular store
Multi-Channel Retailing
One-Hundred Percent Location
Controllable Variables
Issue (problem) Definition
41. Is a cue (social or commercial) or a drive (physical) meant to motivate or arouse a person to act
Primary Data
Stimulus
Consumer Protection
Reach
42. Includes all the remaining customers - and they are the most widely dispersed
Gap Analysis
Fringe Trading Area
Internal Secondary Data
Customer Satisfaction
43. An agreement among manufacturers - wholesalers or retailers to set prices. these agreements are illegal under the Sherman Antitrust Act and Federal Trade Commission Act
Horizontal Price Fixing
Electronic Point of Sale System
Personal Selling
Outsourcing
44. 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
Geographical Information System
Controllable Variables
Model Stock Approach
Operations Management
45. When a retailer acts in a trustworthy - fair - honest - and respectful manner with each of its constituencies
Advertising
Ethics
Net Lease
Sorting Process
46. Unites supermarket and general merchandise in one facility - with general merchandise accounting for 25 to 40% of sales
Power Center
Advertising
Limited Decision Making
Combination Store
47. A freestanding - interactive - electronic computer terminal that displays products and related information on a video screen
Trading Area Overlap
Goods/Service Category
Leader Pricing
Video Kiosk
48. Stores - product - or customers are chosen by the researcher - based on judgement or convenience
Positioning
Chain
Objective-and-Task Method
Non-probability Sample
49. Information is systematically gathered from respondents by communicating with them
Survey
Extended Decision Making
Dead Areas
Service Retailing
50. 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
Positioning
Term Occupancy
Differentiated Marketing
Control Units