Font size
WorksheetsRetail Marketing -1
Total questions: 28
Worksheet time: 28mins
Retailing is defined as :
any exchange of cash and/or credit for goods or services between channel members
a fairly stable and unchanging industry that has a major impact on society
the final activities and steps needed to place merchandise made elsewhere into the hands of the consumer or to provide services to the consumer
the sale of any good or service by the producer to a channel member
the activities and steps needed to transfer goods and/or services between channel members
One of the most dramatic changes created by e-tailing is a shift in power between retailers and consumers. This shift in power is derived from :
the ability of consumers to purchase from retailers in other countries as a result of the Internet
the inability of Internet retailers to compete with more traditional bricks-and-mortar retailers
the loss of control of pricing information by retailers due to the information dissemination capabilities of the Internet
the lack of competition in e-tailing
the decreased power of consumers when transacting and negotiating with retailers
Discretionary Income can be defined as :
Take-home pay
money left over after paying taxes and buying necessities
Take-home pay after adjustments for inflation
Take-home pay indexed to a base year
________is marked by many retailers, all selling very similar products with ease of entry for both buyers and sellers.
Oligopolistic competition
Level competition
Fair competition
Pure competition
Pure profit competition
Which of the following external forces does not have a major influence on the supply chain :
Technological environment
Employee morale
Legal environment
Consumers
Behavior of Competition
A supply chain structure where a manufacturer sells its goods directly to the final consumer or end user is termed a(n):
direct channel
indirect channel
localized channel.
un-diverted channel.
limited channel
Which of the following is NOT a primary area of accountability for a Store Manager?
Research and long-term planning of the merchandise that will be sold in the store.
Selling and service standards to ensure customers are satisfied.
Ensuring that customers receive the right products at the right time and that they are displayed appropriately.
Training employees to prepare them with product knowledge, selling and service skills.
Making sure the sales floor is recovered, damaged goods are returned, and safety and loss prevention standards are in place.
A large box in which products for sale are kept on the shop floor?
Bricks and mortar store
Catchment
Aisle
Bin/Display Bin
In-store display
Endcaps in retailing refers to :
Racks placed near the checkout to encourage impulse buying
Display of products placed at the end of an aisle in a store
Extra items offered to the customer when purchasing promoted products
Promotional fixtures of displays that seek to generate traffic, highlight individual items, and encourage impulse buying
(a) is the average number of times each person who is reached is exposed to an advertisement during a given time period.
Optimal Merchandise mix is made up of three factors - Depth, Breadth and (a) .
Average number of stock-keeping units within each brand of the merchandise line is referred as
Depth
Consignment
Breadth
BOM
_________ is the dividing of a heterogeneous consumer population into smaller, more homogeneous groups based on their characteristics.
Target marketing
Market segmentation
Operations management
Customer Satisfaction
Customer Services
Market share is a popular measure of which kind of objective?
Market performance
Financial performance
Competitiveness
Societal service
Financial performance objectives can be broken into two categories:
marketing objectives and operating objectives
administrative objectives and financial strategy objectives
human performance objectives and information objectives
profitability objectives and productivity objectives
seasonal objectives and general operating objectives
A retailer buys a product for Rs 30 and sells it for Rs 50. What is the markup percentage, if the markup is based on cost.
33%
40%
67%
80%
Reductions in the price of an item that are taken in order to stimulate sales are termed :
maintained price cuts
promotional price cuts
shortages
markdowns
initial price cuts
Markdown percentage is calculated by:
dividing the amount of the reduction by the original selling price
dividing the amount of the reduction by the original cost
dividing the amount of the reduction by the price after the markdown
dividing the amount of the reduction by difference between the cost and the original selling price
dividing the amount of the reduction by the net sales
In order to expand its trading area, a retailer should _________ its merchandise.
lower the prices of
reduce the promotional activities associated with
increase the prices and promotion of
reduce its services and increase promotion
Skimming strategy will work best for a retailer when-
competition is high because it "skins right above the retailer's costs
revenues are equal to expenses
the retailer has a temporary monopoly with its product line
the retailer has excess capacity in its building
demand is less than supply
What Type of Retail Store Layout is this?
Grid
Free Flowing
Spine
Loop
Choose the Correct answer : A Planogram
Illustrate how and where a retailer’s merchandise should be displayed on the shelf
Is a strategic retail planning module
A software used for merchandise planning
None of the above
Merchandise that cannot be accounted for due to theft, loss, or damage is also called
Shoplifting
Shrinkage
Employee Fraud
Inventory turnover
A Computerized system used for store site selection that combines physical geography with cultural geography is also called:
Trading Area
Topographic mapping
Geographic Information System
Retail Management System
One of the characteristics of Oligopolistic competition is:
relatively many sellers
only one market leader who conquers the industry
Many small firms that follow the lead of a few large firms
Any action by the one or two firms is noticed and reacted by others
Which method of Merchandising Planning uses this formula:
Beginning Of Month (BOM) stock = Average stock for season X ½[1 + (Planned sales for the month/Average monthly sales)]
Basic Stock Method (BSM)
Percentage Variation Method (PVM)
Weeks’ supply method
(WSM)
Stock-to-sales method
(SSM)
Non-paid-for communications of information about the company or product, generally in some media form is called:
Publicity
Advertising
Sales Promotion
Search Engine Marketing
Horizontal cooperative advertising is defined as:
Spreading the costs of current and future advertising campaigns over several channels
The manufacturer subsidizes some of the retailer’s advertising
A relatively low-cost, integrated marketing-communications mix
Two or more retailers band together to share the cost of advertising in the form of a joint promotion of an event or sale that would benefit both parties
