Retail Management and Marketing
A comprehensive quiz covering retail management concepts including retail evolution theories, branding strategies, pricing, store operations, customer behavior, and retail marketing techniques.
Questions
______ is a cyclical theory of retailers evolution suggesting that changes in retail institutions are explained in terms of depth versus breadth of assortment.
- Dialectic theory
- Accordion theory
- Mass-market theory
- Subculture theory
- None of these
Which of the following terms is used for a set of associations that consumers have about a brand that is usually organised around some meaningful themes?
- Brand association
- Brand image
- Brand awareness
- Brand equity
- None of these
________ is a system of equalising sales among sales people.
- Multiattribute attitude model
- Call system
- Share of wallet
- Dating
- None of these
________ is a branding strategy that targets a price sensitive segment by offering a no-frills product at a discount price.
- Copycat branding
- Bargain branding
- Forward integration
- Low price guarantee policy
- None of these
Laws prohibiting from being open two consecutive days of the weekend to allow employees a day of rest or religious observance refer to
- antitrust legislation
- procedural fairness
- close-out
- blue laws
- None of these
Which of the following is a merchandise category?
- End-cap
- Hype
- Pallet
- Spiff
- None of these
______ is a large, well-known retail operation located in a shopping center or internet mall and serving as an attracting force for consumers to the center.
- Parasite store
- Promotional center
- Virtual mall
- Anchor store
- None of these
A discount retailer that offers a complete assortment in a category and thus, dominates a category from the customer's perspective is called
- category specialist
- category captain
- category manager
- capacity fixture
- Both (2) and (3)
Customers visiting a store and buying only merchandise sold at big discounts or buying only the best styles is called
- customer spotting
- forward buy
- lift-out
- cherry picking
- All of the above
When the consumers indicate that they know the brand when the name is presented to them, it is called
- premarking
- local links
- brand loyalty
- aided recall
- None of these
________ refers to marketing activities that enable consumers to express their identification with an organisation.
- Customisation approach
- Affinity marketing
- Standardisation approach
- Add-on selling
- None of these
_______ refers to discount offers by a vendor to a retailer in addition to the cash discount if the retailer pays the invoice before the end of the cash discount period.
- Chain discount
- Cost complement
- Anticipation discount
- Double-coupon
- None of these
The percentage by which the retail price is lowered after a markup is taken is called
- additional markup cancellation
- additional markup
- additional markup percentage
- cumulative markup
- None of these
Which of the following is an approach of personal selling in which selling behaviours are altered based on information about the customer and buying situation?
- Frontal presentation
- Sell-through analysis
- Adaptive selling
- Cumulative attraction
- None of these
Which term is used for the lease that limits the type and amount of competition that a particular retailer faces within a trading area?
- Graduated lease
- Exclusive use clause
- Anti competitive leasing arrangement
- Competitive parity method
- None of these