Retail Management
Test your knowledge of retail management concepts including consumer behavior, store layout design, merchandising strategies, distribution channels, pricing methods, and retail terminology.
Questions
_____ is a term that describes a behavioural pattern of consumers who increasingly turn to the nice, safe and familiar environment of their homes to spend their limited leisure time.
- Cocooning
- Dating
- Extra dating
- Flex time
- None of these
Which of the following is/are retail store layout design(s)?
- Classic
- Free-form
- Layaway
- Polygon
- All of the above
A market research method in which professional shoppers shop a store to assess the service provided by the store employees is known as
- comparison shopping
- sell-through analysis
- mystery shopping
- self analysis
- None of these
An assortment so broad that customers should be able to satisfy all their consumption needs for a particular category by visiting one retailer is called
- classification merchandising
- category management
- classification dominance
- core assortment
- None of these
When a manufacturer sells directly to consumers, thereby competing directly with its retailers, it is known as
- direct selling
- disintermediation
- direct retailing
- competitive rivalry
- Both (1) and (3)
The term ________ refers to the number of retailers carrying a particular product category.
- category speciality
- distribution intensity
- functional product grouping
- value retailers
- None of these
When a group of independent retailers work to make a large purchase from a single supplier, it is called
- cumulative reach
- buying committee
- shoplifting
- shrinkage
- None of these
______ is an organisational design in which employees are grouped into departments that perform specific activities to achieve operating efficiency through specialisation.
- Specialty department store
- Departmentalisation
- Specialisation
- Specialty store
- None of these
Which of the following is an evolutionary theory based on the premise that retail institutions evolve?
- Central place theory
- Poverty of time
- Sliding scale
- Trickled down theory
- None of these
Which of the following terms is used for the theoretical number of potential customers in a retailer's target market that could be exposed to an advertisement in a given medium?
- Reach
- Fill rate
- Coverage
- Cumulative reach
- None of these
Which of the following is an approach to personal selling?
- Pick ticket
- Trialability
- Premarking
- Cherry picking
- None of these
_____ is a method of segmenting a retail market using multiple variables including benefit sought, lifestyle and demographics.
- Buying situation segmentation
- Demographic segmentation
- Composite segmentation
- Geodemographic segmentation
- None of these
In which pricing method does a retailer use a competitor's price rather than demand or cost consideration as guides?
- Competitive parity method
- Competition-oriented pricing
- High/low pricing
- Horizontal price fixing
- None of these
What is action alley?
- The sales area of a store located immediately after entering
- The number of identical products in front of a customer
- The location of the retail store where goods are displayed and sales transactions take place
- A price incentive offered by manufacturers to induce buyers to place orders at a trade show
- None of these
_______ is a retail store in which merchandise, selection, presentation, pricing or other unique features act as a magnet for customers.
- Destination store
- Ribbon centre
- Tie-in
- Life style centre
- None of these