Marketing Research

What is an advantage of selling consumable items?

• They do not need refrigeration

• They typically have a large profit margin

• They are long-lasting

• They tend to generate repeat business

Which best describes "consultative selling"?

• Using the latest research to redesign a floor plan

• Offering only one kind of product

• Working with a customer to determine his/her needs

What is a "markdown"

• A price reduction in order to boost the number of sales

• Another name for taking inventory

• A special tax-exempt item

• The sticker on the package stating the price

What are "loss leaders" designed to do?

• Drive competitors out of business

• Reduce a store's tax burden

• Keep advertising budgets under control

• Attract more customers to come into the store

Which is an example of specialty media?

• T-shirts with a store logo on them

• A satellite television ad

• A "midnight madness" sale

What is an internal email list?

• One that was generated by the business itself

• One that was generated from IRS data

• One that is kept only on one computer for extra security

What does a store's buyer do?

• Keep tracks of competitor's prices

• Purchase merchandise to sell

• Tests the effectiveness of a store's sales force by pretending to be a customer

What is a "vendor"?

• A business that sells merchandise to retail stores for resale

• Any automated sales process that needs no human interaction

• The head cashier in a store

In the context of retail, which of the following means the same as "stock"?

• Floor space

• Headroom

• Inventory

• Common

Which is NOT a symptom of an understaffed store?

• Closed cash registers

• Unhappy customers

• Customers using credit cards

• Poor stock maintenance