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






3. The merchandise categories for which data are gathered






4. Mandates that persons with disabilities be given appropriate access to retailing facilities






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






6. The sum total of an individuals traits - which make that individual unique






7. 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

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8. Feature brand-name apparel and accessories - footwear - linens - fabrics - cosmetics - and/or housewares and sells them at everyday low prices in an efficient - limited-service environment






9. Used by both large and small retailers so they can efficiently process transactions and monitor inventory






10. Available from sources outside the firm






11. Used for products needing special handling






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






13. Occurs when a consumer makes full use of the decision process






14. A shopping site with (1) up to a half-dozen or so category killer stores and a mix of smaller stores and (2) several complementary stores specializing in one product category






15. Concept that states that retail institutions - like the goods and services they sell - pass through identifiable life stages: introduction - growth - maturity and decline






16. Determines the floor space necessary to carry and display a proper merchandise assortment






17. Used to determine the amount of merchandise to purchase for resale. the goal is to purchase enough of these procuts so they are always in stock






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






19. Involves planning and monitoring a retailer's financial investment in merchandise over a stated period






20. Exhibits heavier - bulkier items than a rack holds






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






22. 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






23. Programs to combine a high degree of centralized management control with strict operating procedures for every phase of the business






24. A type of department store that has a clear customer focus on middle class and lower-middle-class shoppers looking for good value






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






26. 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






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






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






29. A way to control inventory investment by systematically set stock levels at which new orders must be placed; based on three factors - order lead time - usage rate and safety stock (lead time * usage rate) + safety stock






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






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






32. A retailers carries complementary goods and services to encourage shoppers to buy more






33. Suppliers sell through a moderate number of retailers






34. Encompasses all merchandise flows from a customer and or the retailers back through the supply channel






35. Arise when consumers buy products and/or brands they had not planned on buying before entering a store - reading a mail-order catalog - seeing a TV shopping show - turning to the Web and so forth






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






37. Used to acquire more specific estimates - which divides each month's actual sales by average monthly sales and multiplies the results by 100






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






39. Exists when a person regularly patronizes a particular retailer that he or she knows - likes - and trusts






40. Mazur plan derivative in which buying is centralized and branches become sales units with equal operational status






41. Compromises all the parties that develop - produce - deliver and sell and service particular goods and services






42. Era we in now - death of the middle market. Mass merchandising and niche retailing are popular






43. Bars manufacturers and wholesalers from discriminating in price or purchase terms in selling to individual retailers if these retailers are purchasing products of "like quality" and the effect of such discrimination is to injure competition






44. A sign that displays the store's name






45. Reward a retailers best customers - those with whom it wants long-lasting relationships with






46. Converts shopping from a passive activity into a more interactive one - by better engaging customers






47. 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






48. A version of customary pricing in which a retailer strives to sell goods and services at consistently low prices throughout the selling season






49. 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

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50. When a retailer looks at data that have been gathered for purposes other than addressing the issue or problem currently under study







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