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






2. 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






3. Graphically displays its hierarchical relationships created by a retailer






4. Used for products needing special handling






5. The reasons for a consumers behavior






6. Forecasts average sales weekly - so beginning inventory equals several weeks expected sales

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


7. The activity whereby a retailer generates a list of job applicants






8. Used to describe depreciated assets - such as buildings and warehouses - that are noted on a retail balance sheet at low values relative to their actual worth






9. Large retailers seek to reduce competition by selling goods and services at very low prices - thus causing small retailers to go out of business






10. 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]






11. Assets minus liabilities; aka owner's equity and represents the value of a business after deducting all financial obligations






12. A global electronic superhighway of computer networks that use a common protocol and that are linked by telecommunication lines and satellite






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






14. A typically well-located - food-oriented retailer that is open long hours and carries a moderate number of items






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






16. 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






17. Begins planning at the individual product level and then proceeds to the category - total store - and overall company levels






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






19. 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






20. The criteria used to assess effectiveness






21. A retailer carries more items than expects to sell over a specified period






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






23. 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






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






25. A retailer charges the same price to all customers buying an item under similar conditions






26. A complete bundle product (ensemble) is presented - rather than showing merchandise in separate categories






27. A form of multi-channel retailing which engages in more than one type of distribution arrangement






28. Available from sources outside the firm






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






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






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






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






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






34. A sequence of steps that consumers go through - which takes them from awareness to knowledge to liking to preference to conviction to purchase






35. 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






36. The business activities involved in selling goods and services to consumers for their personal - family - or household use






37. The firms particular combination of store location - operating procedures - goods/services offered - pricing tactics - store atmosphere and customer services - and promotional methods






38. The selection of merchandise a retailer carries - includes both the breadth of product categories and the variety within each category






39. A manufacturer-owned store selling closeouts; discontinued merchandise; irregulars; cancelled orders; and - sometimes in-season - first-quality merchandise






40. Assigns floor space on the basis of sales or profit per foot






41. When a retailer acts in the best interests of society - as well as itself






42. An unincorporated retail firm owned by one person






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






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






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






46. Consists of the regular products carried by a retailer






47. Selection process of one opinion from others. a person determines the criteria to evaluate and their importance before buying






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






49. A format whereby multiple outlets conform to relatively uniform construction - layout and operations standards






50. Consists of all the levels of independently owned businesses along a channel of distribution







Sorry!:) No result found.

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

Browse all subjects

Browse all tests

Most popular tests