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. Based on the original retail value assigned to merchandise less the costs of the merchandise
Purchase Motivation Product Groupings
Storability Product Groupings
Initial Markup
Survey
2. Teach new (and existing) personnel how best to perform their jobs or how to improve themselves
Massed Promotion Effort
Maintained Markup
Training Programs
Economic Base
3. Lets consumers bargain over prices; those who are good at it obtain lower prices
Flexible Pricing
Supply Chain
One-Hundred Percent Location
Odd Pricing
4. Represents how a given retailer is perceived by consumers and others
Image
Objectives
Top-Down Space Management Approach
Point of Difference
5. The business activities involved in selling goods and services to consumers for their personal - family - or household use
Owned-Goods Services
Fad Merchandise
Retailing
Computerized Checkout
6. The amount a retailer pays to acquire the merchandise sold during a given time period. it is based on purchase prices and freight charges - less all discounts
Goods Retailing
Cost of Goods Sold
Internal Secondary Data
Specialty Store
7. Assets minus liabilities; aka owner's equity and represents the value of a business after deducting all financial obligations
Flexible Pricing
External Secondary Data
Net Worth
Control
8. A type of retail institution in which a retailers owns one retail unit
Independent
Uncontrollable Variables
Relationship Retailing
Operating Expenses
9. Graphically displays its hierarchical relationships created by a retailer
Organization Chart
Initial Markup
Feedback
Mass Marketing
10. Involves planning and monitoring a retailer's financial investment in merchandise over a stated period
Need-Satisfaction Approach
Prototype Stores
Secondary Data
Dollar Control
11. Whereby retailers seek to establish and maintain long-term bonds with customers - rather than act as if each sales transaction is completely new encounter
Relationship Retailing
Ease of Entry
Secondary Business District (SBD)
Marquee
12. Environmental and marketplace factors that can adversely affect retailers if they do not react to them
Threats
Total Retail Experience
Odd Pricing
Customary Pricing
13. Merchandise that generates high sales over a short time
Net Lease
Multiple-Unit Pricing
Diversification
Fad Merchandise
14. When ending inventory - recorded at cost - is measured by counting the merchandise in stock at the end of a selling period
Convenience Store
PMs (Promotional or Push Monies)
Supermarket
Physical Inventory System
15. The service level that customers want to receive from any retailer - such as basic employee courtesy
Computerized Checkout
Atmosphere (atmospherics)
Expected Customer Service
Outshopping
16. Prevent retailers from selling certain items for less than their cost plus a fixed percentage to cover overhead
Classification Merchandising
Minimum-Price Laws
Vertical Marketing System
Dollar Control
17. Stores - product - or customers are chosen by the researcher - based on judgement or convenience
Regional Shopping Center
Non-probability Sample
Core Customers
Feedback
18. Focuses on the sale in which consumers do not purchase or acquire ownership of tangible products
Service Retailing
Intensive Distribution
Mass Merchandising
Assortment Display
19. Paid - nonpersonal communication transmitted through out-of-store mass media by an ideantified sponsor
Advertising
Unit Pricing
Staple Merchandise
Atmosphere (atmospherics)
20. Every store - product - or customer has an equal or known chance of being chosen for a study
Owned-Goods Services
Vending Machine
Probability (Random) Sample
Seasonal Merchandise
21. The sensitivity of customers to price changes in terms of the quantities they will buy - because there is a relationship between price and consumer purchases and perceptions
Dual Marketing
Evaluation of Alternatives
Total Retail Experience
Price Elasticity of Demand
22. 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
Problem Awareness
Dump Bin
Motives
Supervision
23. Sets the guiding principles for all the merchandise decisions a retailers makes
Hidden Assets
Taxes
Solution Selling
Merchandising Philosophy
24. 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
Computerized Checkout
External Secondary Data
Horizontal Retail Audit
Attitudes (Opinions)
25. Determines the floor space necessary to carry and display a proper merchandise assortment
Cost of Method Accounting
Sales Manager
Mergers
Model Stock Approach
26. Laws whereby some retailers must express both the total price of an item and its price per unit of measure
Operations Blueprint
Canned Sales Presentation
Value (retailer)
Unit Pricing
27. A retailers commitment to a type of business and to a distinctive role in the marketplace
String
Cross-Shopping
Supercenter
Organizational Mission
28. The total physical exterior of the store itself - marquee - entrances - windows - lighting - and construction materials
Experiment
Probability (Random) Sample
Supermarket
Storefront
29. The average number of times each person reached is exposed to a retailers promotion efforts in a specific period
Frequency
Owned-Goods Services
Wheel of Retailing
Retailing
30. A catalog in which a retailer caters to a particular customer segment - emphasizes a limited number of items - and reduces production and postage costs
Experiential Merchandising
Dead Areas
Specialog
Horizontal Price Fixing
31. A retailer offers discounts to customers who buy in quantity or who buy a product bundle
Multiple-Unit Pricing
Regression Model
Retail Institution
Atmosphere (atmospherics)
32. Available from sources outside the firm
Box (Limited-Line) Store
Perceived Risk
External Secondary Data
Routine Decision Making
33. Selling goods and services to a broad spectrum of consumers
Secondary Data
Social Class
Mass Marketing
Publicity
34. Based on the actual prices received for merchandise sold during a time period less merchandise cost
Maintained Markup
Reilly's Law of Retailing Gravitation
Personal Selling
Data Warehousing
35. Uses a series of mathematical equations showing the association between potential store sales and several independent variables at each location
Regression Model
Channel Control
Feedback
Retail Life Cycle
36. Zeroing in on one specific group
Ethics
Concentrated Marketing
Expected Customer Service
Cut Case
37. Concentrates on selling one goods or service line - such as young women's apparel
Want Book (Want Slip)
Specialty Store
Cost of Method Accounting
Corporation
38. The mix of stores within a district or shopping center
Hidden Assets
Retail Balance
Neighborhood Shopping Center
Feedback
39. An area's industrial and commercial structure - the companies and industries that residents depend on to earn a living
Direct Marketing
Maintenance-Increase-Recoupment Lease
Economic Base
Cut Case
40. Selling merchandise at a limited range of price point - with each point representing a distinct level of quality
All-You-Can-Afford Method
Variable Markup Policy
Purchase Act
Price Lining
41. When a retailer looks at data that have been gathered for purposes other than addressing the issue or problem currently under study
Cost of Goods Sold
Open-to-Buy
Consumer Decision Process
Secondary Data
42. Enumerates basic functions - the relationship of each job to overall goals - the interdependence of positions and information flows
Goal-Oriented Job Description
Cognitive Dissonance
Battle of the Brands
Primary Trading Area
43. Whereby a service retailer does not get paid until after the service is performed and payment is contingent on the service's being satisfactory
Supermarket
Box (Limited-Line) Store
Objectives
Contingency Pricing
44. Information is systematically gathered from respondents by communicating with them
Supermarket
Human Resource Management
Price Elasticity of Demand
Survey
45. A retailer advertises and sells selected items in its goods/service assortment at less than the usual profit margins. goal is to increase customer traffic for the retailer so that it can sell other regularly prices goods
Leader Pricing
Unit Pricing
Retailing Concept
Visual Merchandising
46. Objective - quantifiable - easily identifiable and measurable population data
Private (dealer) Brands
Demographics
Market Segment Product Groupings
Mass Marketing
47. Stipulates that rent is related to sales or profits; protects a property owner against inflation and lets it benefit if a store is successful
Additional Markup
Manufacturer (national) Brands
Percentage Lease
Monthly Sales Index
48. A retailer sets a price floor - the minimum price acceptable to the firm so it can reach a specified profit goal
Fad Merchandise
Cost-Oriented Pricing
Exclusive Distribution
Forecasts
49. Reward a retailers best customers - those with whom it wants long-lasting relationships with
Hidden Assets
Rack Display
Affinity
Consumer Loyalty (Frequent Shopper) Programs
50. A formal way to record consumer requests for unstocked for out-of-stock merchandise
Video Kiosk
Nonstore Retailing
Want Book (Want Slip)
Cognitive Dissonance
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
Certifications
CISSP go to https://www.isc2.org/
PMP
ITIL
RHCE
MCTS
More...
IT Skills
Android Programming
Data Modeling
Objective C Programming
Basic Python Programming
Adobe Illustrator
More...
Business Skills
Advertising Techniques
Business Accounting Basics
Business Strategy
Human Resource Management
Marketing Basics
More...
Soft Skills
Body Language
People Skills
Public Speaking
Persuasion
Job Hunting And Resumes
More...
Vocabulary
GRE Vocab
SAT Vocab
TOEFL Essential Vocab
Basic English Words For All
Global Words You Should Know
Business English
More...
Languages
AP German Vocab
AP Latin Vocab
SAT Subject Test: French
Italian Survival
Norwegian Survival
More...
Engineering
Audio Engineering
Computer Science Engineering
Aerospace Engineering
Chemical Engineering
Structural Engineering
More...
Health Sciences
Basic Nursing Skills
Health Science Language Fundamentals
Veterinary Technology Medical Language
Cardiology
Clinical Surgery
More...
English
Grammar Fundamentals
Literary And Rhetorical Vocab
Elements Of Style Vocab
Introduction To English Major
Complete Advanced Sentences
Literature
Homonyms
More...
Math
Algebra Formulas
Basic Arithmetic: Measurements
Metric Conversions
Geometric Properties
Important Math Facts
Number Sense Vocab
Business Math
More...
Other Major Subjects
Science
Economics
History
Law
Performing-arts
Cooking
Logic & Reasoning
Trivia
Browse all subjects
Browse all tests
Most popular tests