Retail Management
1) Austin is an employee for a large online business. He is unable to travel to a client's office
but needs to demonstrate product features and be able to answer questions as they arise.
What technology tool would be helpful for making the sale?
a. Web presentation combined with a teleconference
b. high-tech sales office
c. cell phone with wireless faxing
d. PowerPoint presentation on CD
Competency: Retail management functions
2) ____ can negatively affect a customer's experience with an e-tailer.
a. Available products
b. Secure order process
c. Web-site design
d. Active links
Competency: Customer value, services, retailing technologies
3) Quality control methods are implemented by department stores to:
a. involve more employees
b. improve communications
c. improve production
d. reduce costs
Competency: Retail planning and management process
4) ____are businesses that transform raw materials into products that consumers can use.
a. Retailers
b. Extractors
c. Manufacturers
d. Wholesalers
Competency: Retail environment
5) Rewarding loyal customers is becoming increasingly popular in the retail industry because
it:
a. builds long-term relationships
b. reduces the number of complaints
c. promotes the use of gift certificates
d. eliminates merchandise returns
Competency: Evaluation and identification of retail customers
6) Wal-Mart is a large retailer easily recognized by the public usually located in a:
a. regional center
b. super-regional center
c. community center
d. freestanding location
Competency: Selecting appropriate market and location
7) Retailers use the ____ to determine net worth.
a. bank statement
b. balance sheet
c. company budget
d. income statement
Competency: Financial aspects of operations management
8) A retailer's goal relating to store merchandise loss is to:
a. observe shoplifting
b. prosecute shoplifters
c. prevent shoplifting
d. detain shoplifters
Competency: Merchandise buying and handling
9) ___ seeks to establish a loyal customer base by entering the market with a low price.
a. Penetration
b. Skimming
c. Profit maximization
d. Loss leader
Competency: Pricing in retailing
10) "Money back guarantee if not satisfied" is an example of a:
a. safety
b. guarantee
c. warranty
d. recourse
Competency: Customer service in retailing
ANSWER KEY
1. a
2. c
3. d
4. c
5. a
6. d
7. b
8. c
9. a
10. b