161. When retailers identify customer segments and develop unique strategies to meet thedesires of these segments, they are using:
A. mass merchandising
B. niche retailing
C. bifurcated retailing
D. middle market retailing
Answer
B. niche retailing
162. Those aspects of business that a retailer can directly affect, such as store hours andmerchandise lines carried are referred to as:
A. controllable variables
B. demographic statistics
C. lifestyle measures
D. uncontrollable variables
Answer
A. controllable variables
163. Which is not considered one of the elements of “managing a business” in a retail strategy?
A. the retail organization
B. human resource management
C. operations management
D. merchandise management and pricing
Answer
D. merchandise management and pricing
164. A systematic procedure for analyzing the performance of a retailer is called:
A. control
B. feedback
C. strategic planning
D. retail audit
Answer
D. retail audit
165. During each stage in the development of a retail strategy, retail managers should:
A. consider only controllable variables
B. refrain from “fine tuning” the strategy
C. look for both positive and negative feedback
D. consider no problems with the government to be a form of negative feedback
Answer
C. look for both positive and negative feedback
166. Which of the following is a recommended strategy for retailers when consumers select theoutlet first and the brand second?
A. Appropriate pricing
B. Brand availability advertising
C. Brand image management
D. Price special on brands
Answer
A. Appropriate pricing
167. Which of the following types of retail businesses have unlimited liability?
A. Partnership and sole trader
B. Partnership and private company
C. Private company and sole trader
D. Private company and public company
Answer
A. Partnership and sole trader
168. Any source of products or services for consumers is referred to as a ___
A. Retail outlet
B. Contact point
C. Transaction point
D. Distribution outlet
Answer
A. Retail outlet
169. The retailer is usually in an excellent position to
A. Make the most profits in the channel
B. Be the channel leader
C. Gain feedback from consumers
D. Co-ordinate the production strategy
Answer
C. Gain feedback from consumers
170. Consumers acquiring product through mail, telephone, or computer orders is referred to as ___
A. Outsourcing
B. Outlet shopping
C. Non-traditional shopping
D. In-home shopping
Answer
D. In-home shopping
171. Which of the following is the major reason consumers give for shopping online?
A. Want product delivered
B. Unique merchandise
C. Price
D. Convenience
Answer
D. Convenience
172. Which one of the following is NOT a form of direct marketing?
A. catalogue retailing
B. telemarketing
C. personal selling
D. direct mail
Answer
C. personal selling
173. The major reason people give for not shopping on the Internet is ___
A. Lack of “touch”
B. Security concerns
C. Too difficult
D. Unfamiliar merchants
Answer
B. Security concerns
174. The difference between retail and cost is called:
A. profit
B. markdown
C. income
D. markup
Answer
D. markup
175. Expenses that benefit the entire store are called:
A. controllable
B. direct
C. indirect
D. Margin results
Answer
C. indirect
176. Consumers who browse and/or purchase in more than one channel are known as ___
A. cosmopolitan
B. Multi-channel shoppers
C. multi-taskers
D. Market mavens
Answer
B. Multi-channel shoppers
177. In which of the following retailers are salespeople ready to assist in every phase of thelocate-compare-select process?
A. self-service.
B. self-selection.
C. limited service.
D. full service.
Answer
D. full service.
178. The fastest growing segment of retailing is ___
A. nonstore retailing
B. warehouse stores
C. hypermarkets
D. Category killers
Answer
A. nonstore retailing
179. The most important retail marketing decision a retailer has to make is to ___
A. identify its target market
B. choose the right service response it wants to support
C. select the service mix
D. Develop a nice store atmosphere
Answer
A. identify its target market
180. ___ includes all of the activities involved in selling goods or services to thosewho buy for resale or business use.
A. retailing
B. wholesaling
C. bartering
D. Purchasing
Answer
B. wholesaling
181. A concept in retailing that helps explain the emergence of new retailers is called the ___ hypothesis.
A. retail life cycle
B. wheel-of-retailing
C. service-assortment
D. Product life cycle
Answer
B. wheel-of-retailing
182. Merchandising and display are an important part of the marketing plan and should have areasonable budget allocated, even for a retailer operating on a ___
A. corner.
B. dime.
C. limit.
D. Shoestring.
Answer
D. Shoestring.
183. A retailer’s ___ is the key to its ability to attract customers.
A. location.
B. pricing system.
C. promotion system.
D. Store personnel.
Answer
A. location.
184. Which of the following is NOT an example of non-store retailing?
A. mail order.
B. party plan
C. department store
D. Catalogue shop.
Answer
D. Catalogue shop.
185. The word Retail is derived from the ___ word
A. latin
B. french
C. english
D. none of these
Answer
A. latin
186. In retailing there is a direct interaction with ___
A. producer
B. customer
C. wholesaler
D. all of these
Answer
D. all of these
187. Retailing creates ___
A. time utility
B. place utility
C. ownership utility
D. all of these
Answer
D. all of these
188. Retailing is a marketing function which ___
A. sells products to other business
B. sells products to a company that resells em
C. sells products to final consumers
D. sells products for one’s own use
Answer
C. sells products to final consumers
189. Retailer is a person who sells the goods in a ___
A. large quantities.
B. small quantities.
C. both a & b.
D. none of these.
Answer
B. small quantities.
190. The main objective of the management is ___
A. profitability.
B. sales growth.
C. return on investment
D. all of these.
Answer
D. all of these.
191. In retailing there is a direct interaction with ___
A. producer.
B. customer.
C. wholesaler.
D. all of these.
Answer
D. all of these.
192. Retailing creates ___
A. time utility.
B. place utility.
C. ownership utility.
D. all of these.
Answer
D. all of these.
193. ___ activities performed by the retailers.
A. assortment of offerings.
B. holding stock.
C. extending services.
D. all of these.
Answer
D. all of these.
194. The term stakeholders which includes ___
A. stock holders.
B. consumers.
C. suppliers.
D. all the above.
Answer
D. all the above.
195. ___ represents how a retailer is perceived by consumers and others.
A. image.
B. sales.
C. profit.
D. none of these.
Answer
A. image.
196. The functions of management start with ___
A. buying.
B. planning.
C. organizing.
D. supervising.
Answer
B. planning.
197. “Management is what a manager does” given by.
A. Henry fayol.
B. F.W.Taylor.
C. Dinkar Pagare.
D. none of these.
Answer
C. Dinkar Pagare.
198. Human resource management process consists of ___
A. recruitment.
B. selection.
C. training.
D. all of these.
Answer
D. all of these.
199. ___ is the process of seeking customers towards shop.
A. Selection.
B. Advertisement.
C. Compensation.
D. Recruitment.
Answer
B. Advertisement.
200. ___ gives the product as per the requirements of customers
A. Human resource planning.
B. Job descriptions.
C. Job analysis.
D. Mall
Answer
A. Human resource planning.
