RETAIL MANAGEMENT Quiz #3

It is a major element in a retail information system, and may be used with customer databases, vendor databases and product category databases.

• Database management

• Data warehousing

• Retail Information System

It is a mechanism used for storing and distributing information.

• Database management

• Data warehousing

• Retail Information System

It is an application of data, whereby retailers use differentiated marketing and develop focused retail strategy mixes for specific customer segments.

• Retail Marketing

• Product Marketing

• Micro Marketing

What do you called an in-depth analysis of information to gain specific insight about customers, product categories, and vendors.

• Retail Information System

• Data Mining

• Micro Marketing

UPC acronym stands for

• Universal Purchase Code

• Universal Product Code

• Universal Production Code

Which of the following anticipates the information needs of retail managers; collects, organizes, and stores relevant data on a continuous basis; and directs the flow of information to the proper decision makers.

• RIS

• UPC

• EDI

It is a geographical area containing the customers of a particular firm or group of firms for specific goods or services.

• Micro Marketing

• Trading Area

• Location Area

Which of the following is trading-area model that is based on the premise people are drawn to stores which are closer and more attractive than competitors’ stores.

• Analog Model

• Regression Model

• Gravity Model

Which of the following is the simplest and most popular trading-area analysis tool in which potential sales for a new store are estimated on the basis of revenues for similar stores in existing areas.

• Analog Model

• Regression Model

• Gravity Model

It is a digitalized mapping with key locational data to graphically depict trading area characteristics.

• Retail Information System

• Data base Management

• Geographic Information Systems