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Retail Management
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Avg score: 30% • Most missed: “The identifiable - but sometime intangible - activities undertaken by a retailer…”
Retail Management
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25 Questions

1. The process by which people determine whether - what - when - where - how - from whom - and how often to purchase goods and services

2. Two or more retailers share an ad

3. When a retailer takes a proactive - integrated atmospherics approach to create a certain "look" - properly displaying products - stimulate shopping behavior and enhancing the physical environment

4. Focuses on the sale in which consumers do not purchase or acquire ownership of tangible products

5. Especially low prices are negotiated for merchandise whose sales have not lived up to expectations - end of season goods - items consumers have returned to the manufacturer or another retailer and closeouts

6. A consumer uses each step in the purchase process but does not spend a great deal of time on each of them

7. Service that includes the activities that enhance the shopping experience and give retailers a competitive advantage

8. The identifiable - but sometime intangible - activities undertaken by a retailer in conjunction with the basic goods and services it sells

9. A large - planned shopping facility appealing to a geographically dispersed market

10. Whereby franchisors limit franchisee involvement in the strategic planning process

11. Permits supermarkets to incorporate aspects of quick response inventory planning - electronic data interchange - and logistics planning

12. A retailer sets prices based on consumer desires; at the top is the demand ceiling - the most that people will pay for a good/service

13. The total physical exterior of the store itself - marquee - entrances - windows - lighting - and construction materials

14. The overall plan or framework of action that guides a retailer

15. All of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer

16. Usually the first tool used to screen applications; providing data on education - experience - health - reasons for leaving prior jobs - outside activities - hobbies and references

17. Refers to the number of distinct goods/services categories (product lines) a retailer carries

18. Involves an informal ranking of people based on income - occupation - education and other factors

19. Consists of apparel - furniture - autos - and other products for which the retailer must carry a variety of products in order to give customers a proper selection

20. A way to collect - store and use relevant information about customers

21. Includes both personal contact with consumers in their homes and phone solicitations initiated by a retailer

22. Involves the retailers collecting an assortment of goods and services from various sources - buying them in large quantity - and offering to sell them in small quantities to consumers

23. Reward a retailers best customers - those with whom it wants long-lasting relationships with

24. Any communication by a retailer that informs - persuades - and/or reminds the target market about any aspect of that firm

25. Used by both large and small retailers so they can efficiently process transactions and monitor inventory

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