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






2. Whereby each department is subdivided into further categories for related types of merchandise






3. Whereby intangible personal services are offered to consumers who then experience the services rather than possess them






4. Many retail vendors sell a range of products at discount prices in plain surroundings






5. The overall plan guiding a retail firm






6. Concentrates on selling one goods or service line - such as young women's apparel






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






8. Whereby suppliers make agreements with one or a few retailers that designate the latter as the only ones in specified geographic areas to carry certain brands or products






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






10. When information is amassed on each job's functions and requirements: duties - responsibilities - aptitude - interest - education - experience - and physical tasks






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






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






13. A retailer tied it promotion budge to revenue and develops a promotion to sales ratio






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






15. A retailers best customers






16. Ownership verus leasing - the type of lease - operations and maintenance costs - taxing - zoning restrictions and voluntary regulations






17. When manufacturers and wholesales seek to control the retail prices of their goods and services






18. Risk is still low - but a retailer takes title on delivery and is responsible for damages






19. 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






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






21. Lets consumers bargain over prices; those who are good at it obtain lower prices






22. 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






23. Occurs when a retailers adds goods and services that may be unrelated to each other and to the firm's original business






24. The extent to which a person desires and pursues social status






25. An illegal practice in which a retailer lures a customer by advertising goods and services at exceptionally low prices; once the customer contacts the retailer - he/she is told the good is out of stock or of inferior quality; a salesperson tries to c






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






27. Any communication by a retailer that informs - persuades - and/or reminds the target market about any aspect of that firm






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






29. Factors having a high relationship with job success are given more weight than others






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






31. Involves the retailers collecting an assortment of goods and services from various sources - buying them in large quantity - and offering to sell them in small quantities to consumers






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






33. The average number of times each person reached is exposed to a retailers promotion efforts in a specific period






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






35. A type of retail institution that is a department in a retail store that is rented to an outside party






36. A retailer sets its prices in accordance with competitors'






37. Where the same customers are served by both branches






38. The aspects of business to which a retailers must adapt






39. The aspects of business that a firm can directly affect






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






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






42. Consists of the regular products carried by a retailer






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






44. Contains an additional 15 to 25 percent of a stores customers; located outside of the primary area - and customers are more widely dispersed






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






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






47. Whereby a retailers sells to consumers through multiple retail formats






48. Anticipates the information needs of retail managers; collects - organizes - and stores relevant data on a continuous basis; and directs the flow of information to the proper decision makers






49. Any item a retailer owns with monetary value






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