201. Supermarket is a kind of ___
A. wholesale
B. distributor
C. dealer
D. retail store
Answer
D. retail store
202. Attracting potential employees is more difficult in case of ___
A. internal recruitment.
B. external of recruitment.
C. both a & b
D. none of these.
Answer
B. external of recruitment.
203. ___ is the next step after recruiting the retail personnel.
A. Supervision.
B. Compensation.
C. Training.
D. Selection.
Answer
D. Selection.
204. ___ test measure a persons capacity or potential capability to learn and perform ajob.
A. Aptitude test.
B. Proficiency test.
C. Interest test.
D. Personality test.
Answer
A. Aptitude test.
205. A traditional format that sell 20-80 percent of groceries and other consumableproduct at discounted prices
A. Dollar Store
B. Discounted stores
C. Chain store
D. off price store
Answer
A. Dollar Store
206. ___ component allow the retailer to offer the employees safety and security
A. Fixed component
B. Fringe benefit component
C. Variable component
D. All of the above.
Answer
B. Fringe benefit component
207. ___ is the manner of providing a job environment that encourages employee’saccomplishment.
A. Compensation
B. Supervision.
C. Training
D. None of the above.
Answer
B. Supervision.
208. Store security relates to ___
A. personal security
B. merchandise security.
C. both a & b.
D. none of these.
Answer
C. both a & b.
209. Form of payment which a retailer may accept is ___
A. cash only.
B. cash &credit cards.
C. cash &debit cards.
D. all of these
Answer
D. all of these
210. Many retailers have improved their operation productivity through ___
A. computerization.
B. outsourcing.
C. both a & b.
D. none of these.
Answer
A. computerization.
211. The computerized check out is used by ___
A. large retailers.
B. small retailers.
C. multi retailers
D. all of these.
Answer
A. large retailers.
212. With the help of ___ a retailer pays an outsider party to undertake one or more ofits operating functions
A. outsourcing.
B. credit management
C. computerization.
D. none of these.
Answer
A. outsourcing.
213. ___ helps the retailers to face the crisis situations.
A. Risk management.
B. Credit management.
C. Financial management.
D. All of these
Answer
A. Risk management.
214. ___ is a key task for both large &small retailers.
A. Risk management.
B. Crisis management.
C. Inventory management
D. All of these.
Answer
D. All of these.
215. ___ helps the retailers to complete the tasks within the short period of time.
A. Computerization.
B. Outsourcing.
C. Both 1 & 2.
D. None of these.
Answer
A. Computerization.
216. ___ is a warning to potential thieves and muggers.
A. Insurance.
B. Security guards.
C. Outsourcing.
D. Credit management.
Answer
B. Security guards.
217. Insurance against ___ is more important due to government rules.
A. environmental risk.
B. production risk.
C. both 1 & 2
D. none of these
Answer
A. environmental risk.
218. The factor leading to the growth of retailing is ___
A. changing consumer trends
B. technology.
C. demographics.
D. all the above.
Answer
D. all the above.
219. Consumer buying process in retailing involves ___
A. need recognition.
B. search for information.
C. evaluation of retailers.
D. all the above.
Answer
D. all the above.
220. Atmosphere in retailing refers to ___
A. the weather outside a store.
B. The ambience, music, color scent in a store.
C. assortment of products in the store.
D. display of items in a store.
Answer
B. The ambience, music, color scent in a store.
221. E-tailing refers to ___
A. sale of electronic items in a store.
B. catalog shopping.
C. music store.
D. retailing shopping using the inter.
Answer
D. retailing shopping using the inter.
222. A multi channel retailer sells merchandise ___
A. over the telephone
B. through personal selling and retail store only.
C. over the internet.
D. through more than one channel.
Answer
D. through more than one channel.
223. Retailing is a marketing function which ___
A. sells products to other business.
B. sells products to a company that resells them.
C. sells products to final consumers.
D. sells products for ones own use
Answer
C. sells products to final consumers.
224. The wheel of retailing explains the emergence of new retailing forms by ___
A. retailers cycle through peaks of high cost price and troughs of low cost price.
B. whole sellers see retailing opportunity, enter retailing, then turn to wholesaling again.
C. new retailers emerge, grow, mature and decline.
D. low margin, low price retailers enter to compete with retailers who are high margin and high price.
Answer
D. low margin, low price retailers enter to compete with retailers who are high margin and high price.
225. All of the following are possible types of service that a retailer can offer except ___
A. self service.
B. self selection.
C. limited service.
D. all of the above.
Answer
C. limited service.
226. The correct statement about chain stores is ___
A. they offer economic of scale in buying.
B. they can hire good managers.
C. they integrate wholesaling and retailing function.
D. they centralize function.
Answer
D. they centralize function.
227. Which of the following objectives is concerned with strategic marketing planning?
A. Day to day performance and results.
B. Over-all long term organizational growth.
C. Identifying the strengths and weaknesses of marketing department
D. None of the above.
Answer
B. Over-all long term organizational growth.
228. Which sources of advantage will be helpful for a firm to achieve positionaladvantage over its competitors?
A. Superior skills.
B. Superior resources.
C. Superior controls.
D. All of the above a, b and c.
Answer
D. All of the above a, b and c.
229. What are the elements that a mission statement of an organization should include?
A. Sets guidelines for business operations
B. Identifies the reasons for existence of a company and its responsibilities to the stakeholders
C. Identifies the firms customers and their needs and marches them with products and services.
D. All of the above 1, 2 and c.
Answer
D. All of the above 1, 2 and c.
230. The term which is used to identify the major areas of business of a diversifiedorganization is.
A. Business area.
B. Business segment, group or diversion
C. Business scope.
D. Diversified business.
Answer
B. Business segment, group or diversion
231. Business composition is the term used while framing the following strategies. Whatare they?
A. Corporate strategy.
B. Marketing strategy.
C. Business strategy.
D. Both 1 and b.
Answer
D. Both 1 and b.
232. Which of the following is not the characteristics of a strategic business unit?
A. It serves a homogenous set of markets with a limited number of related technologies
B. It serves a unique set of products.
C. It owns responsibility for its own profitability.
D. None of the above.
Answer
D. None of the above.
233. According to GE screening grid model, which strategy should a company follow when it has high industry attractiveness and low business competitive position.
A. Invest/growth
B. Selective investment /maintain position.
C. Harvest/divest
D. None of the above.
Answer
A. Invest/growth
234. Which of the following will act as a corner stone in maintaining the competitiveness of company
A. Market focus.
B. Defining capabilities.
C. Relationships and organizational change.
D. None of the above.
Answer
A. Market focus.
235. Which analysis compares the strengths and weaknesses of a firm against theopportunities and threats in the external environment.
A. Environmental analysis.
B. Business analysis.
C. SWOT analysis.
D. None of the above.
Answer
C. SWOT analysis.
236. Which of the following is not included in the list of macro environmental variables.
A. Prevailing economic conditions and political manifestors.
B. Changes in legislation and emerging new technologies.
C. Financial conditions and culture.
D. None of the above.
Answer
D. None of the above.
237. What is the term used if management wants to audit the key management functionslike sales force, advertising or pricing?
A. Vertical audit
B. Horizontal audit.
C. External audit.
D. None of the above.
Answer
A. Vertical audit
238. The best way for a retailer to differentiate itself in the eyes of the consumer formthe competitions is to.
A. increase advertising of sale items.
B. offer the lowest prices in town.
C. always be well stocked with the basic items that customers would expect to find in your store.
D. not sell any of the brand names the competition is selling.
Answer
C. always be well stocked with the basic items that customers would expect to find in your store.
239. The boomerang effect is a relatively new phenomenon that describes
A. the recent trend for firms to seek bankrupts protection.
B. the way styles from years ago come back as today’s most popular styles.
C. the recent trend of children returning to live with their parents after having already moved out.
D. the recent trend of having most companies report losses for the current quarter.
Answer
C. the recent trend of children returning to live with their parents after having already moved out.
240. Discretionary income is.
A. all personal income after taxes and retirement savings.
B. all personal income after savings
C. all personal income after taxes.
D. personal income after taxes minus the money needed for necessities.
Answer
D. personal income after taxes minus the money needed for necessities.
