Tag: retail trade

Quizzes (9) Questions (23)

Questions Related to retail trade

Multiple choice business organisation and correspondence middlemen 2 - retailer types of retail organisation types of retailing retail trade

Under Mail Order House, for obtaining orders, potential customers are approached through _________.

  1. advertisements in newspapers or magazines

  2. samples and bills

  3. price lists sent

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A mail-order house is a company that sells or manages mail-order advertising or a mail-order business. A company that creates letters to send out to customers encouraging them to buy something via the mail is an example of a mail-order house.

Multiple choice business organisation and correspondence middlemen 2 - retailer types of retail organisation types of retailing retail trade

The people entrusted with the management of cooperative stores lack expertise as they are not trained in running the stores efficiently.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
  1. Research. Luckily, this tip is easy to follow because most of us end up online shopping when we're bored. 
  2. Don't window shop. We advise against window-shopping since it's usually a waste of time. 
  3. Budget. 
  4. Go alone. 
  5. Have an open mind. 
  6. Price match. 
  7. Watch out for promotions.
  8. Know the return policy.
Multiple choice business organisation and correspondence middlemen 2 - retailer types of retail organisation types of retailing retail trade

The biggest advantage of mail-order business from the point of view of consumers is that unnecessary middlemen between the buyers and sellers are eliminated.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The main advantage of selling through catalogs is the ability to reach hundreds of thousands of readers with just one mailing. This dramatically increases a retailers exposure to potential shoppers. With mail order sales, the catalog is essentially your "store" and the copy is the salesperson.

Multiple choice business organisation and correspondence middlemen 2 - retailer types of retail organisation types of retailing retail trade

Sellers cannot clear all the doubts of customers through catalogues and advertisements. This is because of _____.

  1. High promotion cost

  2. No after sales service

  3. Delayed delivery

  4. Lack of personal contact with customers
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Poor Customer service occured due to customers needs and expectation are not satisfied, failing to managing a customer service operation and company standerd , laking of organised planned to execute cutomer service,laking of motivational skills, and laking of good communication skills in concern of product/service.

Multiple choice business organisation and correspondence middlemen 2 - retailer types of retail organisation types of retailing retail trade

The consumer cooperative stores normally sell goods on cash basis.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Cash Basis Accounting -Cash Basis accounting recognizes revenue and expense when cash is actually spent or received. For example, revenue from sale of goods is recognized when payment is received from the customer, not when an invoice is created.

Multiple choice business organisation and correspondence middlemen 2 - retailer types of retail organisation types of retailing retail trade

The profits earned by consumer cooperative stores are utilised for ________________.

  1. declaring bonus to members.

  2. strengthening the general reserve.

  3. social and educational benefit of members.

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Consumer Cooperative Stores. These are retail stores owned by the consumers themselves for their own benefit. These stores are owned and managed by a group of consumers, and their primary aim is not profit making, but mutual benefits for consumers.

Multiple choice business organisation and correspondence middlemen 2 - retailer types of retail organisation types of retailing retail trade

There can be different alternatives for receiving payments for a Mail Order House. They are _______.

  1. full payment in advance

  2. Value Payable Post (VPP)

  3. the goods may be sent through a bank

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A card not present transaction (CNP, MO/TO, Mail Order/ Telephone Order, MOTOEC) is a payment card transaction made where the cardholder does not or cannot physically present the card for a merchant's visual examination at the time that an order is given and payment effected.

Multiple choice business organisation and correspondence middlemen 2 - retailer types of retail organisation types of retailing retail trade

To ensure fair management of funds the accounts of the stores are audited by _______.

  1. Registrar of Cooperative Societies

  2. Registrar of Companies

  3. Registrar of Retail Stores

  4. Joint Stock Company
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A cooperative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically controlled enterprise.

Multiple choice business organisation and correspondence middlemen 2 - retailer types of retail organisation types of retailing retail trade

The seller approaches the customers by advertising the goods through ______.

  1. the press

  2. sending circulars

  3. samples and catalogs

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A consultative or need based selling approach is where you identify your customer's needs and use it as the basis for a sales approach. It takes the hard edge out of product selling, and you can customize it to meet their needs.

Multiple choice business organisation and correspondence middlemen 2 - retailer types of retail organisation types of retailing retail trade

Mail order business is known as shopping by ___. 

  1. email

  2. fax

  3. post

  4. website
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Mail order business, also called direct mail marketing, method of merchandising in which the seller's offer is made through mass mailing of a circular or catalog or through an advertisement placed in a newspaper or magazine and in which the buyer places an order by mail.