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Midterm 2024 RiseUp: Retail Review 1.1 - 3.4

Total questions: 20

Worksheet time: 11mins

Name
Class
Date
1.

Which of the following best defines quality customer service?

a)

Delivering a positive, memorable experience that is more than what the customer expected.

b)

Adhering to company policies when processing returns.

c)

Doing exactly what company procedures say to do.

d)

Offering free items to customers in order to keep them coming back.

2.

A term for physical goods that are bought and sold?

a)

Products

b)

Services

c)

Assets

d)

Resources

3.

Which of the following is a standard term that describes the audience of retail stores—that is, the people who will buy things?

a)

Manufacturers

b)

Wholesalers

c)

Buyers

d)

Customers

4.

Which of the following is an example of upselling: "I also have this other laptop that has most of the same features as the one you're looking at, but at a lower price, it's on sale" , "I'm sure you'll love those basketball sneakers. Do you also need any shirts or shorts?" , "Would you like that as a meal? You can get fries and a M drink for $2 extra"

a)

I also have this other laptop that has most of the same features as the one you're looking at, but at a lower price, it's on sale

b)

I'm sure you'll love those basketball sneakers. Do you also need any shirts or shorts?

c)

Would you like that as a meal? You can get fries and a M drink for $2 extra

d)

Would you like to upgrade to a larger size for just a few dollars more?

5.

The process of placing inventory on sales floor shelves, racks or other displays to be sold is called:

a)

Stocking

b)

Restocking

c)

Inventory Management

d)

Display Arrangement

6.

These devices are used primarily to prevent the theft of high-paced items, particularly small ones

a)

Display or fixture locks

b)

Security tags

c)

Alarm systems

d)

Surveillance cameras

7.

What's the term for reducing the price of an item in order to encourage sales?

a)

Discount

b)

Markdown

c)

Price Cut

d)

Sale Price

8.

Which of the following is a term for intangible things, such as providing delivery, that are sold by retailers?

a)

Gifts

b)

Training

c)

Products

d)

Services

9.

The majority of retailers are

a)

Independently owned

b)

Franchised

c)

Corporate chains

d)

Online-only

10.

A retailer's total inventory is

a)

All inventory owned by the retailer, regardless of its location

b)

Only the inventory located in the main warehouse

c)

Inventory that is currently on sale

d)

Inventory that has been ordered but not yet received

11.

Which of the following is the term for the overall impression gathered from information that is seen, heard and experienced by customers who encounter a business, its products and services?

a)

Brand promise

b)

Positive feeling

c)

Company culture

d)

Company brand

12.

Which of the following is the term for the retailing approach that places the focus on creating a seamless shopping experience for customers by integrating multiple channels?

a)

Multichannel

b)

Omnichannel

c)

Integrated channel

d)

Seamless channel

13.

In 2016, shoplifting losses were around:

a)

1 million

b)

20 million

c)

20 billion

d)

50 billion

14.

Which of the following holds large quantities of product that are later sent either to retail locations or directly to customers?

a)

Manufacturer

b)

Wholesaler

c)

Distribution Center

d)

Retailer

15.

Approximately what percentage of US jobs are retail jobs, as of 2019?

a)

5-10%

b)

10-15%

c)

20-25%

d)

35-40%

16.

Which of the following is NOT a step in the basic selling process?
Make a connection,
Personalize service,
Assess needs

a)

Recite product features

b)

Make a connection

c)

Personalize service

d)

Assess needs

17.

What's the term that describes distributing merchandise from the manufacturer to a retailer's locations?

a)

Distribution

b)

Allocation

c)

Transportation

d)

Logistics

18.

What's the specific term for the situation in which a customer purchases a new item and then returns an old, damaged, similar item using the new item's receipt?

a)

Switch fraud

b)

Return fraud

c)

Item substitution

d)

Receipt manipulation

19.

What kinds of things does a manufacturer produce?

a)

Raw materials

b)

Fossil fuels

c)

Services

d)

Finished products

20.

Which of the following would NOT be a factor that affects which products a retailer chooses to select to offer in a store: Local customer preferences, Manufacturer incentives, Employee preferences, The store's location?

a)

Local customer preferences

b)

Manufacturer incentives

c)

Employee preferences

d)

The store's location