WorksheetsRetail Management
Total questions: 76
Worksheet time: 57mins
What is the purpose of merchandising strategies in retail sales management?
To decrease product variety
To reduce customer satisfaction
The purpose of merchandising strategies in retail sales management is to optimize product placement, pricing, promotion, and overall presentation to attract customers, drive sales, and maximize profitability.
To increase operational costs
Explain the concept of visual merchandising and its importance in retail sales.
Visual merchandising is the practice of designing and arranging a store's layout and displays to attract customers and increase sales. It involves creating visually appealing displays that showcase products effectively. Visual merchandising is important in retail sales as it helps create a positive shopping experience, highlights key products, communicates the store's brand image, and ultimately influences customer purchasing decisions.
Visual merchandising is the practice of rearranging store fixtures to reduce sales
Visual merchandising is not important in retail sales and has no impact on customer behavior
Visual merchandising involves creating unattractive displays that deter customers
How can retailers use product placement as a merchandising strategy to increase sales?
By strategically placing products in high-traffic areas, near complementary items, or at eye level to increase visibility and encourage impulse purchases.
By hiding products in obscure locations
By placing products in low-traffic areas
By randomly placing products in the store
Discuss the role of pricing strategies in effective merchandising.
Pricing strategies have no impact on consumer perception or demand
Effective merchandising does not require any pricing strategies
Pricing strategies influence consumer perception, demand, and profitability, attracting different customer segments and creating a competitive advantage.
Competitive advantage is not influenced by pricing strategies
What are some common techniques used in retail merchandising to attract customers?
Celebrity endorsements
Free samples
Window displays, product placement, signage, sales promotions, interactive displays
Online advertising
How can retailers utilize seasonal displays as part of their merchandising strategy?
By creating visually appealing setups that showcase products relevant to the current season and highlighting promotions or limited-time offers.
By using outdated seasonal themes that do not resonate with customers
By displaying products that are not relevant to the current season
By neglecting to include any promotional elements in the displays
Explain the concept of cross-merchandising and provide an example of its implementation.
Pairing toothpaste with electronics in a department store
Displaying umbrellas next to sunscreen at a beach resort
Placing shoes next to cereal in a grocery store
Cross-merchandising is the practice of displaying complementary products together to encourage additional sales. For example, placing chips next to salsa in a grocery store.
What is the significance of store layout and design in merchandising?
Store layout and design do not affect the shopping experience
Store layout and design impact customer behavior, enhance the shopping experience, showcase products effectively, and help in directing customers within the store.
Store layout and design have no impact on customer behavior
Store layout and design make products less visible to customers
Discuss the impact of digital merchandising on retail sales management.
Digital merchandising can decrease sales by confusing customers
Digital merchandising only benefits online sales, not in-store sales
Digital merchandising can significantly increase sales by reaching a wider audience, providing a seamless shopping experience, and enabling data-driven decision-making.
Digital merchandising has no impact on retail sales management
How can data analytics be used to optimize merchandising strategies in retail?
By ignoring customer preferences and trends
By setting prices based on personal intuition rather than data
By randomly selecting products without any analysis
By analyzing customer behavior, preferences, and trends to optimize product selection, pricing, promotions, and customer experience.
Which of the following best describes retailing?
It is the strategy retailers and vendors use to get products into the stores.
It is the merchandising component of the retail mix.
It is the set of business activities that adds value to the products and services sold to consumers for their personal use.
It is the process of offering products in smaller quantities for consumer consumption patterns.
It is the ability to offer enough variety in a store to encourage one-stop shopping.
Benetton, a popular retail chain from Italy, manufactures many of the sweaters it sells in its retail outlets at a textile mill in North Carolina. Benetton is practicing:
demographic marketing
globalization
product-related marketing
vertical integration
wholesaling
Which of the following does NOT describe how retailers increase the value consumers receive from their purchases?
providing an assortment of products and services
breaking bulk
providing services
holding inventory
wholesaling
Why is providing assortments an advantageous business activity?
It enables the company to create a more informational and entertaining environment which would promote more sales.
It enables the customer to choose from a wide selection of brands, designs, sizes and prices all in one store.
It enables the company to reinvest for the future of the business.
it enables the customer to try more products.
It enables the customer to stock up on the assortments because of bulk availability.
BagBorrowerSteal.com is an internet retailing website that sells jewelry, handbags, and other accessories. Customers can choose from over 10,000 brands, sizes, prices, and designs. Which value-creating activity is being performed by the retail website?
breaking bulk
holding inventory
providing assortments
financing
providing services
The competition between retailers that sell similar merchandise using different formats, such as discount and department stores, is called:
Intratype competition
Indirect competition
Intertype competition
Backward integration
Scrambled merchandising
DJ owns the Beach Shack, a small souvenir shop on a busy beach boardwalk which specializes in a variety of t-shirts, towels and beach toys. He has identified his customer as a person walking on the boardwalk–mostly vacationers who want something cheap, functional and fun. He located himself close to parking for easy access, unlike some of his competitors. DJ seems to have developed a strong:
business concept
business plan
location strategy
retail strategy
selling strategy
_________ refers to the number of different items in a merchandise category.
Inventory mixture
Product width
Product breadth
Variety
Assortment
How can conventional supermarkets differentiate their offerings?
They can provide one-stop shopping services.
They can generate private label merchandise.
They can invest in a just-in-time inventory management.
They can increase store loyalty among customers.
They can eliminate perishables.
Convenience stores:
have great merchandise depth
are about the same size as the traditional supermarket
earn most of their profit on sales of milk, eggs, and bread
are in the introductory stage of the retail life cycle
have a limited variety and assortment of merchandise
How can a convenience store develop a sustainable advantage against the competition?
extend hours of operation
open smaller stores close to where consumers shop and work
grow the square footage of the stores
close less convenient locations
sell impulse merchandise
Category specialists:
compete directly with off-price retailers
have little customer service
offer a narrow variety but deep assortment of merchandise
rely on warranty sales to promote loyalty
are limited to clothing and toy retailing
Which of the following terms does NOT describe the benefits of the Internet channel?
Personalization
Immediate gratification
More information to evaluate merchandise
Personalized offering
Broader selection
The waiting room for the law firm had a brocade-covered sofa, a Degas print, a thick Persian rug, and handsomely framed diplomas. This sort of affluent furnishing that signals quality is a way to deal with the _____ of services.
intangibility
perishability
iconsistency
compatibility
consumability
A retailer that sells merchandise and/or services through more than one channel is called a/an:
computerized retailer
single-channel retailer
multi-channel retailer
electronic retailer
direct seller
If Jane wants to buy a lava lamp for her living room, she can browse 17 sites. What are the benefits of electronic retailing compared with in-store retailing?
ability to closely examine the item being bought
ease with which unsatisfactory items can be returned
a vast number of alternatives for comparison shopping
a flexible pricing strategy
speedy delivery
A Structured form of listening and responding that focuses the attention on the speaker.
Response Listening
Listening
Active Listening
Attentive Listening
The process of selling products and/or services in order to earn a profit.
Customer
Retail
Retailer
Sevices
People who purchase goods or services from a business.
Customers
Buyers
Sellers
Everyone
Items that you can purchase from a store are ___ items.
Tangible
Intangible
What kinds of things does a manufacturer produce?
Raw materials
Fossil Fuels
Services
Finished products
Which of these best describes a grower of corn?
Manufacturer
Wholesaler
Retailer
Distribution Center
The majority of retailers are
Independently owned
Corportations
Franchises
Online Only
A term that describes a service.
Tangible things
Intangible things
Gifts
Products
Buys large quantities of products from the manufacturer and then sells smaller quantities to retailers.
Manufacturers
Retailers
Suppliers
Wholesalers
They produce finished products, such as clothing, light bulbs and frozen pizza.
Retailer
Manufacturer
Wholesales
Intermediary
The type of channel that provides integrated shopping experiences between online, in-store, and alternate locations.
Omnichannel
Multichannel
What is the term that is used for reducing the price on an item to encourage sales?
Markup
Markdown
Marketing
Tax
____ refers to the help, information and recommendations that company representatives give to people who explore or buy its products or services.
Customers
Customer service
Retail service
Customer satisfaction
____ is defined as the measure of how happy a customer is with specific transaction or their overall experience with the retailer.
Customer service
Customer satisfaction
Customer quality
Customer habits
Questions that get you a short response or answer, such as yes or no.
Open-ended
Closed-ended
Sample
Short
Refers to recommending additional products that compliments a customer's purchase.
Upselling
Underselling
Cross-selling
Suspicious-selling
Occurs when there is an extra value to be explained, or when a customer has shared information perhaps that they what a feature not already included in the item they are currently looking at purchasing.
Cross-selling
Upselling
Underselling
Additional-selling
Marketing programs that provide incentives to repeat customers.
Brand programs
Customer programs
Loyalty programs
Unity programs
It's okay to talk loudly to explain that a credit card transaction has been denied.
True
False
You should politely explain to the customer that the transaction has been denied and that they need to leave the building.
True
False
You should politely explain to the customer that the transaction has been denied and that they can use another form of payment for the transaction.
True
False
Products that a retailer has available for sale are referred to as?
Inventory
Extra merchandise
Items for sale
A machine-readable series of parallel lines that create a unique item identifier.
QR Code
Item Code
Bar Code
Uni Code
A system that is used when a customer purchases an item, typically at checkout lanes. It keeps the stock on hand up to date.
Inventory Management System
PLU (Price Look UP) Systerm
Inventory Tracking System
POS (Point of Sale) System
Someone is in the store buying paint for updating their living room. What would be a good suggestive selling item?
Couch and Loveseat
Paint Brushes and Drop Cloth
Curtains and Curtain Rods
Throw Rugs
A document that a business has that outlines the positions in a company and the requirements and expectations for each position.
Career Job
Human Resource Manual
Suggestive Description
Job Descriptions
Items that last a long time and are typically found in the center aisles of the store.
Non-perishable
Perishable
Canned foods
Fresh fruits and vegetables
Other than the sales floor, where is a businesses inventory kept?
In the closets
In the stockroom
In the office
At the manufacture
The process of placing inventory on sales floor shelves, racks or other displays to be sold is called?
Back stock
Out-of-stock
Stocking
Excess inventory
The process of automatic or manual ordering to meet product demands is called?
Inventory replenishment
RFID
PLU
Excess inventory
____ is a cost caused by deliberate or unintentional human actions.
Perishable loss
Unexpected loss
Preventable loss
Profitable loss
What percent of shoplifting is due to employee theft?
20
30
40
50
These devices are specifically intended to attach to clothing in order to prevent theft and they require a special tool to remove.
SKUs
Non-electronic ink tags
PLUs
Electronic tags
What is the specific term for the situation when a customer purchases a new item and then returns an old, damaged, similar item using the new items receipt?
Receipt fraud
Switch fraud
Identity theft
Return fraud
Shoplifting is a chronic, expensive problem in the retail industry. In 2016, shoplifting losses were around?
5 Billion
50 Billion
500 Million
50 Million
Which agency o law protects employees against hazards in the workplace?
ADA
OSHA
FMLA
FDIC
Which of the following is a proper lifting technique?
Lift with your back
Bend your knees and keep your back straight
Keep your feet close together
Lift close to your body
If you find food or liquid on the floor, what is the first thing you should do?
Call a custodian
Find a mop and clean it up
Stand near the spill direct traffic until it can be cleaned up
Fill out who is responsible for making the spill
What should you do if you come across broken glass?
Sweep it up as quickly as possible
Stand near it and direct traffic away from the glass until it can be cleaned up
Call a janitor to clean it up
Find out who broke the glass
What should you do if there is an electrical hazzard?
Stand near it and direct traffic away from it
Secure the area and report the situation to management for repair by an electrician
Nothing, maintenance will find it during their safety checks
Make a temporary repair until an electrician can be called
What should you do if a display topples on to a customer?
Help the customer up and reset the display
Help the customer up and call 911
Call for a custodian or merchandiser to clean it up
Check on the shopper to be sure they are unharmed, then direct traffic away from the area until it is cleaned up
Ranking tasks in order of importance.
Focus
Prioritize
Organize
Consider
What is a SMART goal?
Specific, Marketing, Attainable,
Reasonable,
Time-Based
Specify,
Measure,
Test,
Reset
Assert
Specimen
Membrane
Atoms
Research
Time-Based
Specific,
Measurable,
Achievable,
Results-Oriented,
Time-Based
Defined as an interconnected group of people.
Network
Organization
Club
Employer
A succinct, persuasive sales pitch that can be delivered in a time span of about 30 seconds.
Networking
Elevator Pitch
Question and Answer
Blog Post
A document that you create that shows your education, work history and skills.
Job application
Cover letter
Resume
Homework
What should you do after your interview?
Send flowers
Send balloons
Pester them until they hire you
Send a thank you
How soon should you send a thank you note from your interview?
24 hours
48 hours
3 days
1 week
How early should you show up to the interview site?
1 minute before
15 minutes before
30 minutes before
I'm ready to take the Retail Merchandising Test
Yes
No
