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Retail Management

Provides comprehensive knowledge and skills to effectively manage retail operations, including merchandising, and sales strategies, for successful retail.

merchandising

inventory

sales

customer service

pricing

promotion

branding

store layout

e-commerce

supply chain

customer experience

staffing

profitability

productivity

competition

These displays at the end of the aisles can be used to display promotional offers.

  • End Caps

Customer buying __ is an important point of consideration while designing store layout.

  • behavior

What includes all the elements in a retail offering that encourage or inhibit consumers during their contact with a retailer?

  • none of the choices
  • total marketing experience
  • total wholesale experience
  • total retail experience

offer an assortment of goods consisting of approximately 28,000 items, with a two-thirds non-food and a one-third food assortment.

  • Neighborhood Markets

Print media such as newspaper, brochures, handbills, product catalogues is an example of what retail marketing?

  • marketing mix
  • advertising
  • sales promotion
  • visual merchandising

What retailing activity is whereby suppliers sell through a moderate number of retailers?

  • exclusive distribution
  • intensive distribution
  • Selective distribution
  • none of the choices

the last stage in a channel of distribution

  • retailing

For small suppliers, retailers can provide assistance by transporting, storing, marking, advertising, and pre-paying for products. Small retailers may need the same type of help from their suppliers

  • True
  • False

Major brands such as Wal-mart, eBay, and Amazon are considered ________?

  • Digital Signage
  • Mobile Retail
  • None of the choices
  • Kiosks

What is the communication strategy designed to act directly as an inducement, as added value, or as incentive for the product to the customer.

  • none of the choices
  • Retail advertising
  • Visual Merchandising
  • Sales Promotions

the assortment from various sources, buy in large quantity, and sell in small amounts

  • sorting process

It is raising customers’ awareness about the product or service and driving customers to buy the products by offering tempting deals

  • promotion

__ involves displaying products or services aesthetically using various objects, colors, shapes, materials, designs, and styles to attract the customers.

  • VISUAL MERCHANDISING

______ is a large assortment of merchandise, in a sense ‘killing’ a particular category from other retailers?

  • Category Killers
  • “Express” store
  • None of the choices
  • Shopping Malls

The mark-ups are calculated as a percentage of the selling price and not as a percentage of the cost price.

  • Mark-up Pricing

These are models used to forecast store performance based on the simultaneous consideration of such factors as store size, store image, distance, population and distribution.

  • Gravity models

Manufacturers and wholesalers are informed by their sales representative about sales forecasts, delivery delays, customer complaints, defective items, inventory turnover, and more.

  • True
  • False

The retailer charges the price depending on where the customer is located.

  • location pricing

_______ refers in whereby they seek to establish and maintain long-term bonds with customers, rather than act as if each sales transaction is a completely new encounter?

  • Total Retail Experience
  • none of the choices
  • Customer Service
  • Relationship Retailing

What is the display reminders to increase task compliance, announce sales incentives, and provide communication from corporate headquarters?

  • Digital Signage
  • Kiosks
  • None of the choices
  • Mobile Retail

The price is charged differently for customers from different customer segments.

  • Customer Segment Pricing

costs include varying costs of raw material and costs depending upon volume of production

  • variable cost

What stores is characterized of 3,000 to 5,000 square feet?

  • Shopping Festivals
  • Couture Retailing
  • Shopping Malls
  • “Express” store

It is a small specialty store that offers huge variety in a specific product category and that too at low prices

  • “Express” store
  • Shopping Malls
  • Category Killers
  • Shopping Festivals

It basically involves all functions of the value chain, meaning that cost efficiencies are expected of the company’s suppliers, its employees and executives.

  • Every-Day-Low-Costs

stores that are located in downtown areas and dense business submarkets?

  • none of the choices
  • Shopping Festivals
  • Couture Retailing
  • “Express” store

The retailer offers good value to customers, whether it be upscale or discount.

  • Value-driven retailing concept

suppliers sell through as many retailers as possible

  • intensive distribution

it refers to constantly lowering costs and prices in accordance with the company’s credo of every-day-low-prices, which is analyzed below in greater depth

  • Striving for Excellence

_______ usually contain “bakeries, delis, and convenience shops such as portrait studios, photo labs, dry cleaners, optical shops, and hair salons.

  • None of the choices
  • Neighborhood Markets
  • Supercenter
  • Discount Stores

An Analysis techniques aimed at grouping data cases or variables together for segmenting a portfolio of stores into similar groups

  • Cluster Analysis

It refers to where the product or service is sold: online, type of store, location of store, time taken and the mode of transport to reach the retail place

  • place

The store interior is the area where customers actually look for products and make purchases.

  • True
  • False

The retail company sets prices in order to achieve a particular Return On Investment

  • Target Return Pricing

__ displays are Ads placed near the merchandise to promote the sale where the customer makes buying decision.

  • POINT OF PURCHASE

These are retail locations that have been architecturally planned to provide a unified theme for a number of outlets.

  • Planned Shopping Districts

refers to the identifiable, but sometimes intangible, activities undertaken by a retailer in conjunction with the basic goods and services it sells.

  • customer service

An analysis used to predict category membership.

  • Discriminant analysis

The geographic area that contains the customers of a particular site or region for a company or a group of companies for specific goods or services.

  • Catchment Area

Both internal and external factors matter when it comes to store design

  • True
  • False

This includes internal stakeholders such as customers, sales staff, management staff, and external stakeholders such as suppliers and supply chain management force.

  • people

Wal-Mart’s worldwide competitors

  • Carrefour, Tesco , and German Metro Group

Buying Power of Consumers is the sensitivity of the customer towards price variation and purchasing power of the customer contribute to setting price.

  • True
  • False

Free-standing outlets that are isolated from other retailers

  • Solitary Sites

What retailing activity is when Suppliers have higher sales than in exclusive distribution, and retailers carry some competing brands?

  • selective distribution
  • exclusive distribution
  • intensive distribution
  • none of the choices

its origin in France meaning fashion clothing.

  • culture
  • none of the choices
  • ‘Couture
  • cuoture

The first SAM-S CLUB opened its doors in ______

  • Midwest City, Oklahoma

charging a product at a high price that the customer is willing to pay and then it decreases gradually with time

  • Price Skimming

Price is reduced to compete with other similar products to allow more customer penetration.

  • Penetration pricing

offering additional product or service is combined with the main product, together with special price.

  • Price Bundling

What type of location relates to single, free-standing outlets that are isolated from other retailers?

  • Free-Standing Sites
  • planned Shopping Areas
  • Unplanned Shopping Areas
  • Solitary Site

Layout mainly used in grocery stores.

  • Grid Layout

_______ is an innovative marketing concept, where in retailers pop up announced at unique locations away from traditional markets and disappear at the same pace within a few day

  • shopping malls
  • none of the choices
  • pop up retailing
  • kiosk

includes all the elements in a retail offering that encourage or inhibit consumers during their contact with a retailer

  • total retail experience

What basic types of shopping centers consist of a purpose built cluster of free-standing retail outlets?

  • supermarket
  • none of the choices
  • shopping malls
  • retail parks

What is the combination of marketing activities that the retailers carry out to meet the target market’s requirements in the best possible way?

  • Customer Relationship Management (CRM)
  • none of the choices
  • retail advertising
  • retail marketing mix

The quality and range of variants of the product or service.

  • product

Presenting the products or offering services in a well-organized and attractive manner, keeping an aesthetic sense in presentation to elevate customers’ shopping experience.

  • physical environment

It is one of the crucial challenges faced by today’s retail managers.

  • Food
  • None of the choices
  • Space management
  • Retailing

What kind of unplanned shopping area is usually found along a street or motorway?

  • neighborhood districts
  • none of the choices
  • central business districts
  • strip or string locations

The result gives the value of the average sales and net return, which is used to study sales trends over time.

  • Sales per Transaction = Net Sales/Number of Transactions

This law establishes a point of indifference between two towns in order to determine the catchment area of each town.

  • Reilly’s Law of Retail Gravitation

What retailing concept is when the retailer offers good value to customers, whether it be or discount?

  • Customer orientation
  • Value-driven
  • none of the choices
  • goal orientation

The __ are designed in way to use the space efficiently.

  • retail store layouts

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

  • channel of distribution

_________ are used to forecast or survey and map such store trading areas?

  • none of the choices
  • digitalized mappingno
  • mapping techniques
  • GIS

What retailing concept is when the retailer offers good value to customers, whether it be upscale or discount?

  • goal orientation
  • Value-driven
  • none of the choices
  • Customer orientation

Initially the product is charged at a high price that the customer is willing to pay and then it decreases gradually with time.

  • Price Skimming

Many goods and services have been modified because of retailer feedback.

  • True
  • False

This area outside the store is as much important as the interior of the store. It communicates with the customer on who the retailer is and what it stands for.

  • Exterior Design

What involves displaying products or services aesthetically using various objects, colors, shapes, materials, designs, and styles to attract the customers?

  • marketing mix
  • advertising
  • sales promotion
  • Visual Merchandising

These are retail locations with several outlets in close proximity to each other that have evolved over time.

  • Unplanned Shopping Areas

What are retail locations that have been architecturally planned to provide a unified theme for a number of outlets?

  • Planned Shopping Areas
  • Unplanned Shopping Areas
  • Shopping Centers
  • none of the choices

What stores contain manufacturers’ and retailers’ outlet stores or off-price retailers?

  • lifestyles centers
  • none of the choices
  • outlet stores
  • shopping malls

An analysis of grouping together a range of variables that can be used to predict site profitability

  • factor analysis

He started Wal-mart

  • Sam Walton

The first guideline refers essentially to the company’s desired way of treating human beings and it shows that employees are highly valued

  • respect for the individual

What refers to the identifiable, but sometimes intangible, activities undertaken by a retailer in conjunction with the basic goods and services it sells?

  • Relationship Retailing
  • total retail experience
  • none of the choices
  • customers service

__ is a promotional price technique where irrespective of how luxurious the product is, retailer offers steep discount.

  • LOSS LEADING

__ refers to the identification, satisfaction, and management of customers’ stated and unstated needs and demands by the retailer for mutual benefit.

  • CUSTOMER RELATIONSHIP MANAGEMENT

It refers to the cost of product or service for different customer segments by considering various price affecting factors

  • price

Layout used in malls and departmental stores.

  • Loop Layout

suppliers sell through a moderate number of retailers

  • selective distribution
  • Question 4
  • Correct
  • Mark 1.00 out of 1.00
  • Not flaggedNot flaggedFlag question

What are these retail store that sites are developed deliberately and usually have some large, key retail brand stores (“anchor stores”) and a number of smaller retailers to add diversity and special interest?

  • None of the choices
  • Shopping Centers
  • Planned Shopping Districts
  • Unplanned Shopping Areas

Cost which is both fixed and variable costs of manufacturing the product

  • Manufacturing Cost

________ is one example of category killer?

  • kiosk
  • shopping mall
  • Mega-Mart
  • none of the choices

Whose job is communicating both with customers and with manufacturers and wholesalers?

  • wholesalers
  • manufacturers
  • producers
  • retailers

What promotional pricing where irrespective of how luxurious the product is, retailer offers steep discount

  • Loss Leading
  • none of the choices
  • Bundle Pricing
  • Markdown

The first guideline refers essentially to the company’s desired way of treating human beings and it shows that employees are highly valued.

  • Service to the Customer
  • Respect for the Individual
  • Striving for Excellence
  • none of the choices

Basic types of shopping centers.

  • Solitary Sites

Products exceeding sales and profit margins. Allocate large amount of quality space.

  • Star performers
  • Profit builders
  • Traffic Builders
  • Space wasters

This refers to providing customers the product or service with the added value.

  • delivery

In __________, customers can now make payments, order online over their phone, check inventories, and get product information?

  • Kiosks
  • Digital Signage
  • Mobile Retail
  • none of the choices

What retailing activity is whereby suppliers sell through as many retailers as possible?

  • exclusive distribution
  • selective distribution
  • intensive distribution
  • none of the choices

key retail brand stores

  • anchor stores

locations along a street or motorway

  • strip or string locations

This measure is used to track total number of customer traffic per unit time. It is then applied to schedule hours and determine staff strength.

  • Hourly Customer Traffic = Customer Traffic In/Number of Hours

What retail marketing helps the activity conversion to sales.

  • advertising
  • none of the choices
  • visual merchandising
  • Sales Promotions

a combination of supermarket and discount store with an average size of 17,400 m2

  • Supercenter

__ is the communication strategy designed to act directly as an inducement, as added value, or as incentive for the product to the customer.

  • SALES PROMOTION

The price charged is high if there is high demand for the product and low if the demand is low.

  • True
  • False

What retail marketing mix is the range of activities involved in manufacturing and delivering the product or service to the customer.

  • process
  • product
  • place
  • promotion

What retailing activity whereby suppliers make agreements with one or a few retailers to be the only ones in specified geographic areas to carry certain brands or products?

  • exclusive distribution
  • intensive distribution
  • selective distribution
  • none of the choices

__ is a promotional price technique where Buy one get one free or Get 3 pay for 1 are used.

  • BUNDLE PRICING

This refers to getting new customers

  • acquisition

It opens the way for messaging that can be targeted using the customers’ preferences and thus adds value to retailers.

  • mobile technology
  • technology
  • none of the choices
  • internet

_______ are generally located within a radius of three to seven miles of Supercenters, in order to supplement the existing food distribution network and provide added convenience

  • Neighborhood Markets
  • Supercenter
  • None of the choices
  • Discount Stores

the overall plan guiding a retail firm

  • retail strategy

What are enclosed, climate controlled and lighted shopping centers?

  • lifestyle center
  • shopping malls
  • none of the choices
  • outlet centers

first step in retail strategic planning

  • Define the type of business in terms of the goods or service category

A pictorial diagram that depicts how and where to place specific retail products on shelves or displays in order to increase customer purchases.

  • Planogram

The retailer keeps track of the number of transactions per hour, which helps in determining store hours and staff scheduling.

  • Transaction per Hour = No. of Transactions/Number of Hours

Retailers conduct these for the customers who make frequent purchase by offering first access to new products, free coupons, or special discounted price on particular days.

  • LOYALTY PROGRAMS

The retailer integrates all plans and activities to maximize efficiency.

  • Coordinated effort

This refers to modifying products or services to meet customers’ requirements.

  • customization

High profit margins-low sales products. Allocate quality space rather than quantity.

  • Profit Builders

an innovative marketing concept, where in retailers pop up announced at unique locations away from traditional markets and disappear at the same pace within a few days.

  • Category Killers
  • Pop Up Stores
  • Shopping Malls
  • “Express” store

Windows and doors cannot provide visual messages about merchandise on sale.

  • True
  • False

The customers perceive prices like 99.99, 11.49 to be cheaper than 100.

  • Odd Even Pricing

A retail store typically employ a unified theme carried by the retail outlets, their architectural design and their merchandise and can be anchored by restaurants or entertainment facilities.

  • theme or festival parks

The world’s largest retailer since 2002

  • Wal-Mart, Inc.

The retail company determines the level of sales needed to cover all the relevant fixed and variable costs

  • Break-even Pricing

Match the given descriptions of the 7Ps of Retail Marketing accordingly.

  • process

__ is a promotional price technique where retailer brings down the prices for wide range of products in the store

  • MARKDOWN

The company sets prices little above the manufacturing cost

  • Cost plus pricing

Smart phones are used in ___________?

  • digital Signage
  • Kiosks
  • Mobile Retail
  • none of the choices

What promotional pricing where retailer brings down the prices for wide range of products in the store?

  • market penetration
  • Markdown
  • Loss Leading
  • Bundle Pricing

What retailing concept is when the retailer integrates all plans and activities to maximize efficiency?

  • Goal orientation
  • Customer orientation
  • Value-driven
  • Coordinated effort

What are the Ads placed near the merchandise to promote the sale where the customer makes buying decision.

  • Point of Selling (POS) Displays
  • Point of Purchase (POP) Displays
  • none of the choices
  • Point of Sale (POS) Displays

__ refers to advertising on newspaper, brochures, handbills, product catalogues.

  • PRINT MEDIA

Also known as big-box retailing.

  • none of the choices
  • Category Killers
  • Shopping Malls
  • Pop Up Stores

includes an additional amount of the same product or another product for a limited time

  • special buy item

What retailing concept is when the retailer determines the attributes and needs of its customers and endeavours to satisfy these needs to the fullest?

  • goal orientation
  • Customer orientation
  • Coordinated effort
  • none of the choices

What retail store combines shopping with entertainment and eating out?

  • Shopping Malls
  • Category Killers
  • “Express” store
  • None of the choices

What type of cost is rent expense?

  • Manufacturing Cost

A product is priced at low cost if it is lacking some feature than the competitor’s product.

  • Discount Pricing

What process is when Retailers collect an assortment from various sources, buy in large quantity, and sell in small amounts?

  • manufacturing process
  • none of the choices
  • sorting process
  • selling process

What kind of unplanned shopping are is found in larger cities and main street or high street locations in smaller cities?

  • secondary business districts
  • central business districts
  • strip or string locations
  • none of the choices

What retailling concept is when the retailer offers good value to customers, whether it be upscale or discount?

  • Customer orientation
  • Coordinated effort
  • Goal orientation
  • Value-driven

What kind of unplanned shopping area is found in traditional “downtown” areas in cities/towns?

  • strip or string locations
  • neighborhood districts
  • central business districts
  • none of the choices

It states that by cutting prices, sales can be boosted to a point where far more can be earned than from selling items at higher prices

  • discount pricing philosophy

factors that influence retail prices includes manufacturing costs and the predetermined objectives

  • Internal Factors

This refers to communicating with existing and prospective customers

  • interaction

Match the following descriptions of the prominent phases of CRM accordingly.

  • development

What is identification, satisfaction, and management of customers’ stated and unstated needs and demands by the retailer for mutual benefit?

  • green marketing
  • retail marketing
  • sustainable marketing
  • Customer Relationship Management (CRM)

_____ refers to the ongoing commitment to pass on even more savings to customers by lowering the every-day-low-prices whenever possible,

  • Rollback

What enables the retailer to reach out to a large number of people and create awareness among them about the product’s availability.

  • marketing mix
  • sales promotion
  • Retail Advertising
  • visual merchandising

What company opened a pop up store for its website Piper lime in New York?

  • Bombay Electric
  • Gap Inc.
  • IBM
  • None of the choices

What is the latest edition to the list of retail formats available in Philippines?

  • Shopping Malls
  • none of the choices
  • Category Killers
  • “Express” store

The retailer sets goals and then uses its strategy to attain them.

  • Goal orientation

A prototype stores with anywhere between a 20 percent and 50 percent reduction in square footage.

  • none of the choices
  • “Express” store
  • Couture Retailing
  • Shopping Festivals

High sales-low profit margins products. These products need to be displayed close to impulse products.

  • Traffic Builders

__________ uses large plasma or LED screens.

  • None of the choices
  • mobile retail
  • kiosk
  • Digital Signage

This refers to keeping the loyal customers

  • retention

What activity is based on the idea that good looks pay of?

  • none of the choices
  • sales promotion
  • advertising
  • visual merchandising

It is characterized by an assortment which is non-food dominated and resembles that of a department store including toys, clothing, leisure and sporting goods, car components and furniture.

  • Discount Stores

A retail store comprise mainly upmarket clothing shops and boutiques carrying high quality and price fashion merchandise

  • fashion/specialty centers

What is the marketing activity which all of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer?

  • personal selling
  • channels of distribution
  • public relation
  • sales promotion

The retail company may set the price as close as the giant competitor in the market

  • Competitor’s Parity

What is the range of activities the retailer does to create awareness about the products or services among customers for selling?

  • Marketing
  • direct marketing
  • advertising
  • Retail marketing

the contact between manufacturers, wholesalers, and the consumer

  • retailers

What is the retailing activity whereby a retailer sells to consumers through multiple retail formats?

  • none of the choices
  • multi-channel retailing
  • retailing
  • wholesailling

What includes internal stakeholders such as customers, sales staff, management staff, and external stakeholders such as suppliers and supply chain management force?

  • product
  • people
  • process
  • place

What is the activity of developing floor plans and three-dimensional displays in order to engage customers and boost sales.

  • sales promotion
  • advertising
  • none of the choices
  • Visual Merchandising

What are the Ads placed near the checkout or billing counters to promote on-the-fly purchase that the customer makes at the last minute.

  • transit ads
  • Point of Purchase (POP) Displays
  • Point of Sale (POS) Displays
  • billboard ads

What are important support systems for location research and trading area analysis?

  • none of the choices
  • Geographical information systems
  • digitalized mapping
  • Mapping techniques

The retailer charges price depending upon time, season or occasions

  • Time Pricing

What marketing mix is the location where the product or service is sold: online, type of store, location of store, time taken and the mode of transport to reach the retail place.

  • Prices
  • Sales Promotions
  • place
  • none of the choices

Pricing is done to convey quality of the product

  • Prestige Pricing

it was developed and shared with suppliers at no cost on the basis of this consumer tracking software

  • Retail Link

Who is usually selling through retailers not owned by manufacturers?

  • middle man
  • retailers
  • wholesalers
  • producers

containing the US-based warehouse clubs

  • SAM’S CLUB segment

Low sales-low profit margins products. Put them at the top or bottom of shelves.

  • Space wasters
  • Star performers
  • Profit builders
  • Traffic builders

What type of retail store can be positioned on roads or near other retailers or shopping centers?

  • Unplanned
  • Solitary Sites
  • none of the choices
  • Isolated Sites

__ displays are Ads placed near the checkout or billing counters to promote on-the-fly purchase that the customer makes at the last minute.

  • POINT OF SALE

What do Retailers conduct for the customers who make frequent purchase by offering first access to new products, free coupons, or special discounted price on particular days?

  • none of the choices
  • Sales Promotions
  • Promotional Prices
  • Loyalty Programs

Suppliers make agreements with one or a few retailers to be the only ones in specified geographic areas to carry certain brands or products

  • exclusive distribution

The retailer determines the attributes and needs of its customers and endeavours to satisfy these needs to the fullest

  • customer orientation

Layout that followed mainly in luxury retail or fashion stores.

  • Free Layout

Stores that primarily offered single functionality, largely due to the difficulty integrating with other systems.

  • none of the choices
  • Mobile Retail
  • Kiosks
  • Digital Signage

__________ marketing is the range of activities the _________ does to create awareness about the products or services among customers for selling.

  • none of the choices
  • Retail; retailer
  • Internet; retailer
  • Direct; wholesaler

Retail marketing consists of _________________, sales promotion, advertising, and marketing mix.

  • none of the choices
  • merchandising
  • casual merchandising
  • visual merchandising

_______ range from 4,000 to 5,000 m2 in size, have about 80 to 100 employees and offer an assortment of goods consisting of approximately 28,000 items, with a two-thirds non-food and a one-third food assortment

  • SAM-S CLUB
  • None of the choices
  • Neighborhood Market
  • Supercenter
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