Retail Merchandising

Net Selling Area:Space used by customers incl.

• display shelves, fitting rooms, cash counters & gift wrap areas
• Show windows, storage rooms, lockers & cashiers space

Refers to the level of even-handedness in dispensing justice, whereby claims are recognized in the order of their legal and contractual priority.

• Justice
• Transparency
• Fairness
• Stewardship

What do we call a large box in which products for sale are kept on the shop floor?

• Bin/Display Bin
• Bricks and mortar store
• Buying Power
• Catchment

The process of choosing getting the right products to the right place at the right time so that customers can purchase them is called...

• merchandising
• _selection
• Allocation
• Distribution

The customer is forced to follow a predetermined path through the retail area or showroom

• FORCE-PATH STORE LAYOUT
• GRID STORE LAYOUT
• LOOP STORE LAYOUT
• STRAIGHT STORE LAYOUT

Which of the following is NOT a primary area of accountability for a Retail 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.

When the customer gives a buying signal, what should the sales associate do?

• Determine if the customer needs anything else.
• Turn the customer over to a more seasoned sales associate.
• Wait to see if the customer wants anything else.
• Close the sale before the customer changes his mind.

-Direct Sales, Email Orders, Postal Orders, Telemarketing, AutomatedVending

• Store based
• Non-store based
• Service based

The party that established (manages) the franchise is known as ___________.

• Franchisor
• Franchisee
• Franchise

Area immediately adjacent to selling space for stock reserves

• Stockroom
• Boutique
• Aisle
• Checkout

_________________ Area: For store functions incl. Show windows, storage rooms, lockers & cashiers space

• Non-selling

What is this an example of?

• exclusive program
• customer service
• loyalty program
• coupon

5 Core Principles in Business Operations

Establishing an ImageImage: a brand's personality immediately recognizable by the consumer[ ____ ] [ ____ ] & develop an appropriate & imaginative design with a compelling appeal for them

• Identify customers

To have a ______ career.

• second

Modern retailers are adapting new technology for marketing, retailoperations, and business transactions

• True
• False

1. The most likely reasons that a vertically integrated apparel company might offshore its manufacturing processes to businesses located in India, Taiwan, and China are to

• . lower its costs and increase its profit margins.
• Eliminate its transportation costs and improve product quality.
• Avoid its tax obligations and meet trade quotas
• . reduce product mix and accommodate demand.

These are retail stores which sell items that are produced in excess qualityat discounted price.

• Specialty stores
• Department store
• Factory Outlets
• Catalogue showrooms

A trading entity such as a marketing tool or method, a product or group of products, or simply a trade brand is called ____________.

• Franchise
• Franchisee
• Franchisor

Window DisplaysUse p_____ , i_____, s_____ and products to convey an idea/ message to help connect customers with products

• props images signage

E-tailing is a process of selling or purchasing the product using Internet for B2B orB2C transactions.

• True
• False

A retail store layout (whether physical or digital) is the strategic use of space to _________ the customer experience.

• influence

_______________ is a type of business buys products at wholesale price and sells the same at retail price.

• Merchandising Businesses

Basic Retail Store Programming Considerations

The purpose of asking the participants of a research study to maintain product diaries is to obtain marketing research about consumers'

• Financial skills
• Viewing preferences
• Essential needs
• Purchasing habits

This layout maximizes product display while minimizing empty space, and it's almost always the most popular option among customers.

• FORCE-PATH STORE LAYOUT
• GRID STORE LAYOUT
• LOOP STORE LAYOUT
• STRAIGHT STORE LAYOUT

Place your popular or targeted products between .....

• floor level and eye level
• eye level and knee level
• eye level and waist level

It is a business owned by two (2) or more people.

• Sole Proprietorship
• Partnership
• Corporation
• Cooperative

Site SelectionAnalysis of c_____ , s_____, access & p_____ limitations

• context shape physical

The ability to negotiate favorable terms due to the proposition of high volume purchases? is called ___________.

• Bin/Display Bin
• Bricks and mortar store
• Buying Power
• Catchment

The owners of a corporation have limited liability, and the business has a separate legal personality from its owners.

• Sole Proprietorship
• Partnership
• Corporation
• Cooperative

Listed below are several factors that affect the success of aretail business. Which of the following selections best describesinternal factors, which a Retail Manager can influence?

• Product availability, shopping atmosphere, customer service
• Pricing, product placement, customers.
• Customers, branding, product availability.
• Advertisement, Customers, Place & Price

Originally made up of the tasks of a domestic steward, from stig and weard.

• Protocol
• Policies
• Decorum
• Advertising

Who is the most important person in every retail transaction?

• customer

The following question is an example of:"Are you looking for a sofa today?"

• open ended
• closed ended

Which item has the shortest shelf life?

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Considerations for choosing materials for retail visual merchandising:

Act as the middleman and get goods produced by manufacturers to the intended consumers; they make their profits by marking up their prices.

• Service Business
• Retailers and Distributors
• Utilities
• Manufacturers

They are small store generally located near residential premises, and are kept open till late night or 24/7.

• Convenience stores
• Supermarkets
• Hypermarkets
• Specialty stores

Policy should be specific/definite.

• Simple
• Flexible
• Stable
• Specific

Retail design is primarily a specialized practice of architecture and interior design, however it also incorporates elements of

• interior decoration

The planning and execution of product distribution is called ______________.

• Profit
• One-stop-shop
• Logistics
• Merchandising

You assist a customer in the computer department and see a potential for a big sale; however, don't want to overwhelm your customer or lose his trust. How should you proceed?

• Determine his immediate and long-term needs, create a purchase plan, and supply him with your contact information as well as contact information for the computer help desk.
• Recommend your most simple model for ease in spite of the fact it is your worst performing model.
• Suggest he enroll in a computer class at the local senior center before making a purchase.
• Talk clearly and slowly, explaining the function of each component of your most expensive model.

What type of inventory is the merchandise which is housed within the individual retail locations/stores?

• on-hand inventory
• standard inventory
• total inventory
• retail inventory

This is the process of distributing merchandise to various retailer locations. What and how much goes to each store depends on the store size and location

• distribution
• merchandising
• supply chain
• allocation

The unwritten rules or guidelines that are peculiar to every culture or organization and are supposed to be observed by all parties.

• Decorum
• Policies
• Protocol
• Advertising

fairs, hawkers, weekly bazaars, flea markets are examples of established retail

• True
• False

What are the characteristics of dissonance-reducing buying behavior?

• Expensive, infrequent purchase with high buyer involvement and few perceived differences
• Inexpensive, frequent purchase with low buyer involvement and few perceived differences
• Expensive, infrequent purchase with high buyer involvement and strong brand recognition
• Inexpensive, frequent purchase with low buyer involvement and strong brand recognition

To make money and have financial ____________.

• independence

Which of the following is not a part of the Retail Product Cycle?

• allocation
• distribution
• manufacturing
• markdowns

_____________ refers to the creative display of products for sale in a way that encourages customers to buy more items or products.

• Merchandising

Produce products, either from raw materials or from component parts, then sell their products at a profit.

• Agriculture and mining business
• Manufacturers
• Real-estate business

In relation to channel management, which of the following actions should the manufacturer take to effectively introduce a new product to the marketplace:

• Use appropriate promotional techniques to inform channel members
• Establish ethics policies
• Improve communication with distributors or wholesalers
• Apply for a line of credit

The party that sells goods and services within the framework of the franchise is known as ___________.

• Franchisee
• Franchisor
• Franchise

What course of action can a lender take if a debtor's account is past due?

• File a judicial lien
• Claim defamation
• Apply for bankruptcy
• Liquidate assets

The following question is an example of:"Can you tell me about the color scheme in the room where you plan to put your new sofa?"

• open ended
• closed ended

A business might reduce a product's price during the growth phase of the product's life cycle because

• The product tends to attract early adopters during this phase of the life cycle.
• . the business wants to recover its research and development costs.
• It can lower advertising costs since the product has a loyal customer base.
• Competitors have introduced similar products to the marketplace.

The best shop interiors effectively combine p______ ID elements with changeable/s______ Visual Merchandising Display elements

• permanent seasonal

Name the shop that is in a building as opposed to an internet shopping site, a street market stall, party sales, van sales or door-to-door sales.

• Bin/Display Bin
• Bricks and mortar store
• Buying Power
• Catchment

____% of customers will tell family and friends about a bad customer experience

• 73
• 98
• 63
• 52

________ layout is the most widely used type of free flow layout.

• boutique

This is the process of taking products from the warehouse and distrubution centers to be sold to customers

• distribution
• allocation
• automation
• merchandizing

The area from where the majority of a shop's customers are located is known as _____________.

• Bin/Display Bin
• Bricks and mortar store
• Buying Power
• Catchment

Place your most profitable items at

• knee level
• eye level
• waist level
• shoulder level

Which of the following statement about e-tailing is FALSE

• It does require floor space to displayproducts.
• It allows the customer having internet accessto shop any tie, any place.
• It saves time of the customer otherwise spenttravelling to a shopping place in the real world.
• It creates a platform for products from aroundthe world, which are imported by e-tailer whenthe customer places an order

-Various Services, Providers, Banks, Car Rentals, Services contract

• Store based
• Non-store based
• Service based

_________________ is a type of manufacturing business that sell, rent, and develop properties, including land, residential homes, and other buildings.

• Real-estate business

Policy must be unambiguous.

• Clear
• Stable

In visual merchandising, products are typically displayed in such a way as to attract consumers from the intended market by drawing attention to the product’s ....

• bad feature and problems
• best features and benefits
• acceptable features and benefits

Image: https://quizizz.com/media/resource/gs/quizizz-media/quizzes/e543106d-3aab-4804-802d-af403a561100?w=200&h=200

• [A] Assortment display [B] Item display
• [A] Item display [B] Assortment display
• [A] Item display [B] Associated display

What is Retail Design?

• THE CLIENT + RETAIL BUSINESS
• RETAIL BUSINESS + THE CLIENT
• THE INDIVIDUAL + RETAIL BUSINESS

This is the reason companies say that you would benefit from doing business with them instead of their competitors...

• brand promise
• company culture
• company brand
• mission statement

___ out of 10 consumers in the United States say they have paid a higher price for something in order to do business with a company that delivers great customer service.

• 5
• 8
• 7
• 6

Which of the following is an indicator that the customer is ready for a sale?

• The customer decides to make a call to check on shirt sizes with her husband.
• The customer approaches the counter and reaches for her purse.
• The customer continues searching through the tie rack for a complimentary tie.
• The customer asks the sales associate for the price of a shirt.

How do retailers benefit by using electronic data interchange systems?

• Decreases the need to check merchandise
• Limits electronic communication
• Reduces the order cycle time
• Eliminates the need for intermediaries

What is Visual Merchandising?Visual Merchandising can refer to w_____ displays , s_____ displays or s_____ displays

• window shelf stock

Eye-catching & CreativeEffective retail interiors take into account the importance of attractive Displays to capture shoppers’ a_______ u_______ c_______ c_______ that link back to the Brand identity

• attention using creative concepts

A ________ is an organization or economic system where goods and services are exchanged for one another or for money.

• business

Principles of MerchandisingArea allocation: Net Selling Area (?? % of GFA Gross Floor Area)

• 85%
• 75%
• 80%
• 70%

When discussing with an associate how to handle an upset and dissatisfied customer, it is BEST to:

• Coach the associate to get a manager as quickly as possible.
• Coach the associate to diffuse the customer's anger first and find out why she is upset.
• Coach the associate to allow the customer to vent her anger.
• Coach the associate to inform the customer to stop being angry.

Calculate the total owed for the following sales transaction that has a sales-tax rate of 7.25%: 3 picture frames for $22.59 each; 8 boxes of light bulbs for $8.50 box; 4 gallons of paint for $38.79 per gallon; 2 paint brushes for $9.35 each; and 1 light fixture for $167.49.

• $511.72
• $527.12
• $515.27
• $521.71

Apart from opening online retail store, the retailers take the help of _________ _______ such as 3D mock-ups to let the customer try the products on themselves.

• augmented reality

Independent retailer, Chain stores, Franchises, Cooperative stores

• Store based
• Non-store based
• Service based

This refers to excess inventory that is kept on hand in case the customers buy more than the company anticipated.

• Extra Stock
• Total Stock
• On-Hand Stock
• Safety Stock

Total/Retail inventory includes the inventory throughout retailer's entire enterprise.

• true
• false

When changing window display theme, is it preferable to change store interior theme as well?

• Yes
• No

Click the image that has the longest shelf life.

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Successful retail organizations are recognizing that customerloyalty is a key factor in their success. What does customer loyaltymean to a retail business?

• Loyal customers spend more time when making a purchase and that increases their value to the retailer.
• Customer loyalty decreases the amount of advertising a retailer must do to be competitive.
• Customer loyalty increases employee satisfaction and loyalty.
• Repeat business from loyal customer's increases a retailer's sales and profit because shoppers buy more often, recommend the retailer to others, and pay more for goods and services.

When a situation analysis reveals that a competitor's market share has steadily increased over the past year, the Franklin Electronics Store has identified an

• Internal change
• Internal weakness
• External threat.
• External strength.

An effective way for a retailer to reduce the risk of shoplifting for small, expensive items is to place them

• In storage vaults
• On gondolas in the back of the store.
• In locked display cases.
• On wire shelves near the store's entrance

What is the first thing you should do when seeing a customer?

• Walk the opposite direction
• Greet them within 30 seconds
• Ask how you can help
• Ignore them. They will ask you for help if they need it.

As a Retail Manager, you influence the shopping experience byleading by example. Which of the following is NOT an example of how tolead Associates?

• Keep Associates informed of all your concerns about the store's sales trends.
• Be energetic and enthusiastic with others.
• Demonstrate a genuine welcoming attitude toward every customer every day, and be passionate about customer service.
• Know the service standards for your store and meet them consistently.

Retailers update shop displays periodically to refresh shoppers’ interest in the Brand.Which Display Strategies is this referring to?

• Eye-catching & Creative
• Tell a Story, Communicate a Message
• Seasons & Festivals

Include banks and other companies that generate profits through investment and management of capital.

• Service Business
• Financial Business
• Transportation Business
• Utilities