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






2. A listing of bipolar adjectives scales






3. 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






4. Used by retailers that promote throughout the year






5. A self-service food store with grocery - meat - and produce departments and minimum annual sales of $2 million






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






7. 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






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






9. Beginning-of-month planned inventory during any month differs from planned average monthly stock by only one-half of that month's variation from estimated average monthly sales [equation]






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






11. Whereby a retailer sells to consumers through one retail format - may be store-bsed or non-store based






12. The consumer not only has been aroused by social - commercial - and/or physical stimuli but also recognizes that the good or service under consideration may solve a problem of shortage or unfulfilled desire






13. Information is systematically gathered from respondents by communicating with them






14. A cash or card operated retailing format that dispenses goods and services






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






16. A case that holds piles of sale clothing - marked down books or other products






17. Consists of the regular products carried by a retailer






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






19. Direct monetary payments (salaries - commissions - and bonuses) and indirect payments (paid vacations - health and life insurance - and retirement plans) should be fair to both the retailer and its employees






20. 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






21. 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






22. One way to access information on the Internet - whereby people work with easy-to-use Web addresses and pages






23. Based on the original retail value assigned to merchandise less the costs of the merchandise






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






25. Consumers feel high prices connote high quality and low prices connote low quality






26. A program-length TV commercial for a specific good or service that airs on cable or broadcast television - often at fringe time






27. The mix of stores within a district or shopping center






28. The perception the shopper has of a value chain. the customers view of all the benefits from a purchase






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






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






31. Closing inventory value is determined by calculating the average relationship between the cost and retail values of merchandise available for sale during a period






32. A retailer sets prices based on consumer desires; at the top is the demand ceiling - the most that people will pay for a good/service






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






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






35. A planned shopping facility - with the largest store being a supermarket or a drugstore






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






37. 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






38. All of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer






39. Whereby the retailer uses differentiated marketing and develops focused retail strategy mixes for specific customer segments - sometimes fine tuned for the individual shopper






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






41. Consumers view the company as distinctive enough to become loyal to it and go out of their way to shop there






42. The process by which people determine whether - what - when - where - how - from whom - and how often to purchase goods and services






43. A retail firm owned by its customer members






44. Retailers and suppliers regularly exchange information through their computers with regard to inventory levels - delivery times - unit sales and so on of a particular item






45. Based on the premise that people are drawn to stores that are closer and more attractive than competitor's stores






46. 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






47. Any nonpersonal form of public relations whereby messages are transmitted through mass media - the time or space provided by the media is not paid for - and there is no identified commercial sponsor






48. 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






49. The basic format or structure of a business






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