Business of Retail Credentialing TEST Prep (Part 2)

Front

A sales associate in a music store overhears a customer say that it is confusing to try to find things in the store. What should the sales associate do?

Back

Mention the comment to store management and suggest they install more storage.

Front

What should the associate do when Rick complains about receiving too much junk mail and wants to be removed from the company's mailing list?

Back

Take Rick's contact information and contact marketing for removal of his address.

Front

When should a store mark down its products?

Back

When sales are low and/or a season has ended.

Front

An independent pharmacy wants to increase the average customer spend from $14 to $20. What would be the BEST strategy to reach that goal? Options: Put a SALE sign in the window., Increase the number of markdown products., Offer several items to buy together for a discounted price., Increase the prices of best seller items.

Back

Offer several items to buy together for a discounted price.

Front

A company that owns several convenience stores wants to know how well the company is doing financially. What KPI (key performance indicator) would BEST capture their revenue?

Back

Customer retention rate.

Front

A spa wants to grow its clientele, so they created a friends and family discount package. Which marketing technique was used?

Back

Sales promotion

Front

While in checkout line at her favorite clothing store, Jadyn noticed displays with some lower-priced items that complemented her clothing purchases. The items on display were socks, necklaces, and hair ties. Jadyn couldn't resist adding a scarf to her purchase. This is an example of what merchandising tactic?

Back

Impulse

Front

The shoe sales associate suggests shoe cleaner, socks and shoe laces to go along with the new athletic shoes the customer is purchasing. This is an example of:

Back

Cross selling

Front

This pricing strategy incentivizes customers to purchase items, but also makes room for new items that didn't sell well.

Back

Mark Down

Front

The difference between revenue and cost of goods sold, or the amount of money a retailer makes before taking expenses into account:

Back

Gross Profit