Retail Buying Process and Strategies Quiz

What is the primary goal of retailing?

• To maximize vendor profits

• To satisfy customer needs and wants

• To reduce operational costs

• To increase employee productivity

Which of the following is NOT a factor in vendor selection?

• Product quality

• Store layout

• Pricing

• Delivery capabilities

What does merchandise assortment planning involve?

• Determining the range and mix of products

• Negotiating with vendors

• Implementing inventory control systems

• Managing employee schedules

Which activity is part of retail operations?

• Product design

• Market research

• Customer service

• Financial auditing

What is the purpose of negotiation in vendor selection?

• To determine store demographics

• To analyze customer preferences

• To reach mutually beneficial agreements

• To establish product quality standards

Which of the following best describes merchandise allocation?

• Setting pricing strategies

• Evaluating vendor reliability

• Distributing planned merchandise to stores

• Choosing product categories

What is a key consideration in store management?

• Store layout and visual merchandising

• Market analysis

• Product sourcing

• Vendor negotiations

How can retailers enhance the shopping experience?

• By reducing product variety

• By limiting customer service

• By implementing effective store layouts

• By increasing prices

What is the role of inventory control in retail?

• To analyze sales trends

• To design store layouts

• To negotiate with vendors

• To track and manage stock levels

Which system is utilized for efficient sales transactions?

• Vendor Selection System

• Merchandise Assortment Planning

• Point-of-Sale (POS)

• Customer Relationship Management (CRM)