Retail Management Set 7
On This Page
This set of Retail Management Multiple Choice Questions & Answers (MCQs) focuses on Retail Management Set 7
Q1 | Independent retailers who use a central buying organization and joint promotional effortsare called a
- merchandising conglomerate
- corporate chain store
- retailer cooperative
- voluntary chain
Q2 | A retail firm owned by its customers in which members contribute money to open theirown store, vote on its policies, elect a group to manage it, and receive dividends is called a
- corporate chain store.
- merchandising conglomerate
- voluntary chain
- consumer cooperative
Q3 | The oldest and most heavily trafficked city area is called
- regional shopping center
- prime location
- urban district
- Central business district
Q4 | Giant retailers called _____ concentrate on one product category such as toys or homeimprovement
- Category killers
- Variety stores
- supercentres
- box stores
Q5 | Retailers such as Benetton, The Body Shop, and Marks and Spencer carry mostly own- brand merchandise. These are called _____ brands
- creative label
- private label
- house
- retail label
Q6 | A_____ fee is the charge many supermarkets impose for accepting a new brand to coverthe cost of listing and stocking it.
- inventory
- slotting
- initiation
- stocking
Q7 | Which of the following is not one of the four major decisions that must be made withregard to market logistics?
- How should orders be handled?
- Where should stock be located?
- How much stock should be held?
- How should stock be financed?
Q8 | Which statement is not a benefit of formulating a retail strategy?
- A retailer is forced to study the legal, economic, and competitive market
- A retailer is shown how it can differentiate itself from competitors.
- Sales maximization is stress
Q9 | A retailer's commitment to a type of business and to a distinctive role in themarketplace is its:
- . objectives
- organizational mission
- retailing concept
- image
Q10 | Which form of organization is subject to double taxation?
- sole proprietorship
- partnership
- corporation
- franchise
Q11 | When retailers identify customer segments and develop unique strategies to meet thedesires of these segments, they are using:
- mass merchandising
- niche retailing
- bifurcated retailing
- middle market retailing
Q12 | Those aspects of business that a retailer can directly affect, such as store hours andmerchandise lines carried are referred to as:
- controllable variables
- demographic statistics
- lifestyle measures
- uncontrollable variables
Q13 | Which is not considered one of the elements of "managing a business" in a retail strategy?
- the retail organization
- human resource management
- operations management
- merchandise management and pricing
Q14 | A systematic procedure for analyzing the performance of a retailer is called:
- control
- feedback
- strategic planning
- retail audit
Q15 | During each stage in the development of a retail strategy, retail managers should:
- consider only controllable variables
- refrain from "fine tuning" the strategy
- look for both positive and negative feedback
- consider no problems with the government to be a form of negative feedback
Q16 | Which of the following is a recommended strategy for retailers when consumers select theoutlet first and the brand second?
- Appropriate pricing
- Brand availability advertising
- Brand image management
- Price special on brands
Q17 | Which of the following types of retail businesses have unlimited liability?
- Partnership and sole trader
- Partnership and private company
- Private company and sole trader
- Private company and public company
Q18 | Any source of products or services for consumers is referred to as a _____.
- Retail outlet
- Contact point
- Transaction point
- Distribution outlet
Q19 | The retailer is usually in an excellent position to
- Make the most profits in the channel
- Be the channel leader
- Gain feedback from consumers
- Co-ordinate the production strategy
Q20 | Consumers acquiring product through mail, telephone, or computer orders is referred to as _____.
- Outsourcing
- Outlet shopping
- Non-traditional shopping
- In-home shopping
Q21 | Which of the following is the major reason consumers give for shopping online?
- Want product delivered
- Unique merchandise
- Price
- Convenience
Q22 | Which one of the following is NOT a form of direct marketing?
- catalogue retailing
- telemarketing
- personal selling
- direct mail
Q23 | The major reason people give for not shopping on the Internet is _____.
- Lack of “touch”
- Security concerns
- Too difficult
- Unfamiliar merchants
Q24 | The difference between retail and cost is called:
- profit
- markdown
- income
- markup
Q25 | Expenses that benefit the entire store are called:
- controllable
- direct
- indirect
- Margin results