Business Administration
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Course Introduction
Business Administration is a multifaceted course that explores the principles and practices involved in managing and operating organizations effectively. Students will gain a foundational understanding of core business disciplines, including management, marketing, finance, human resources, and operations. The course emphasizes the development of strategic decision-making, leadership, and communication skills necessary for success in diverse business environments. Through real-world case studies, group projects, and applied assignments, learners will be prepared to analyze complex business challenges, formulate solutions, and adapt to the dynamic global marketplace.
Recommended Textbook
Retailing Management 10th Edition by Michael Levy
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17 Chapters
1498 Verified Questions
1498 Flashcards
Source URL: https://quizplus.com/study-set/627
Page 2
Chapter 1: Introduction to the World of Retailing
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88 Verified Questions
88 Flashcards
Source URL: https://quizplus.com/quiz/11889
Sample Questions
Q1) Which of the following value-creating activities has retailers offering products in quantities tailored to customers' consumption patterns?
A) Providing assortments
B) Breaking bulk
C) Add-on selling
D) Holding inventory
E) Scrambled merchandising
Answer: B
Q2) ________ is the world's fastest-growing retail market.
A) China
B) the United States
C) India
D) Russia
E) Brazil
Answer: A
Q3) Ethical principles can change over time.
A)True
B)False
Answer: True
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Page 3
Chapter 2: Types of Retailers
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82 Verified Questions
82 Flashcards
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Sample Questions
Q1) Why do movie theaters sell tickets for an afternoon showing of a movie at a lower price than the 7 p.m. showing of the same movie?
A) To deal with the perishability of services
B) To make sure the service offered is consistent
C) To deal with the intangible characteristic of services
D) To deal with the incompatibility characteristic of services
E) To minimize inventory losses
Answer: A
Q2) Which of the following is a third-tier department store?
A) Macy's
B) Neiman Marcus
C) TJ Maxx
D) Nordstrom
E) JCPenney
Answer: E
Q3) The biggest difference between service retailers and merchandise retailers is their profits.
A)True
B)False
Answer: False
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Chapter 3: Multichannel and Omnichannel Retailing
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57 Verified Questions
57 Flashcards
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Sample Questions
Q1) Direct selling is characterized by all of the following except that it is not
A) a highly interactive form of retailing.
B) taking place in the home.
C) mainly performed by independent agents.
D) a low-cost method of retailing.
E) used for selling personal care products.
Answer: D
Q2) By obtaining information about customer preferences and past purchase behavior, retailers operating an electronic channel are able to:
A) design more secure sites for credit card users.
B) develop faster download times.
C) promote showrooming.
D) respond immediately to consumer inquiries.
E) tailor merchandise and recommendations.
Answer: E
Q3) Direct selling is a retail channel where salespeople interact with customers face-to-face.
A)True
B)False
Answer: True
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Chapter 4: Customer Buying Behavior
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124 Verified Questions
124 Flashcards
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Sample Questions
Q1) To effectively sell merchandise that typically involves impulse purchases, what is the most critical element in the retail mix?
A) Price
B) Prominent displays
C) Advertising
D) Customer service
E) Store location
Q2) When customers have some prior experience with the product and their risk is moderate, like the purchase of a new frying pan, they engage in
A) extended problem solving.
B) cross-shopping.
C) contemplation.
D) habitual decision making.
E) limited problem solving.
Q3) Identify and describe the three types of consumer decision-making processes.
Q4) Of the various methods of segmenting, lifestyle is the one that delves the most into how consumers describe themselves.
A)True
B)False
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Chapter 5: Retail Market Strategy
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124 Verified Questions
124 Flashcards
Source URL: https://quizplus.com/quiz/181919
Sample Questions
Q1) Which of the following statements is an advantage of a joint venture?
A) The entering retailer is exempted from trade taxes.
B) Trade laws favor the entering retailer.
C) The entering retailer takes all the profits.
D) The entering retailer has complete control of the operations.
E) The local partner provides an understanding of the market.
Q2) When Home Movies Inc. opened stores in other countries, it increased the company's international market share. Home Movies took advantage of a ________ opportunity.
A) diversification
B) market expansion
C) market divestment
D) retail format development
E) market penetration
Q3) Which of the following factors is classified as environmental dynamics?
A) Market size
B) Seasonality
C) Barriers to entry
D) Social changes
E) Competitive rivalry
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Page 7
Chapter 6: Financial Strategy
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87 Verified Questions
87 Flashcards
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Sample Questions
Q1) What measures the profitability of products that are sold?
A) Accounts receivable
B) Asset turnover
C) Gross margin
D) Owner's equity
E) Shrinkage
Q2) How is gross margin percent calculated?
A) Gross margin divided by net sales
B) Add operating and interest expenses together and divide by gross sales
C) Net sales multiplied by gross margin
D) Cost of goods sold divided by gross sales
E) Divide net profit by net sales
Q3) If Mohammed wanted to examine the assets and liabilities of the Silver Exchange Coin Shop for the end of the year, he should look at its
A) balance sheet.
B) financial leverage statements.
C) income statement.
D) profitability statement.
E) strategic profit model.
Q4) What is same-store sales growth and how retailers use it?
Page 8
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Chapter 7: Retail Locations
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85 Verified Questions
85 Flashcards
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Sample Questions
Q1) The Home Laughlin China Company of West Virginia manufactures Fiesta China in a variety of colors. The factory has a store where they feature Fiesta products that are discounted or discontinued. Patrons come in to shop with crates expecting to purchase the Fiesta products in large quantities. This type of store can be considered as a(n)
A) lifestyle center.
B) mixed-use development.
C) outlet store.
D) regional center.
E) festival center.
Q2) Why is choosing a good location such an important decision for a retailer?
Q3) Which of the following statements is a disadvantage of shopping malls?
A) Each retailer is allowed to establish its hours of operation.
B) Competition is kept to a minimum because developers try not to have more than one specialty store for each product category.
C) The mall management has no control over exterior signs.
D) Rents in malls are higher than other locations.
E) Most malls were built after 1990.
Q4) Describe three advantages that shopping malls have over alternative locations.
Q5) What is a store-within-a-store?
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Chapter 8: Retail Site Location
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88 Flashcards
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Sample Questions
Q1) Store locations in a mall that are located next to one another are ________ stores.
A) adjacent
B) congestion
C) parasite
D) region
E) tertiary
Q2) Which of the following principles explains the success of a shopping center whose tenants include Kohl's, Walmart, and Dick's Sporting Goods?
A) Multiple risk
B) Analog approach
C) Cumulative attraction
D) Consumer spotting
E) Diminishing adjacent
Q3) List out and define the different terms of leases.
Q4) Compare and contrast when it is essential for a retailer to have good visibility and accessibility, and in which cases these attributes are less important.
Q5) Mention the steps undertaken using the analog approach.
Q6) What are two main issues to consider when negotiating a store's lease?
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Chapter 9: Information Systems and Supply Chain Management
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83 Verified Questions
83 Flashcards
Source URL: https://quizplus.com/quiz/182026
Sample Questions
Q1) Radio frequency identification (RFID) is a technology that allows an object or person to be identified at a distance by means of radio waves.
A)True
B)False
Q2) In a(n) ________, merchandise is allocated to stores on the basis of forecasted demand.
A) push supply chain
B) cross check logistic strategy
C) influential logistic strategy
D) pull supply chain
E) cost-efficient logistic strategy
Q3) Because of the nature of vendor-managed inventory,
A) retail buyers and planners no longer need to monitor inventory levels and place orders.
B) DCs need to run around the clock as deliveries arrive after hours and on holidays.
C) there are many delays in replenishment as it's not a collaborative approach.
D) third party logistic companies have become necessary.
E) EDI is now obsolete.
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Chapter 10: Customer Relationship Management
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80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/182027
Sample Questions
Q1) Depending on the amount of money you have in Wachovia bank, you will receive a variety of different services. The lower-tiered customers are charged $7 to use a teller but can receive the same services for free if they use an ATM. Charging low-tiered customers for using live tellers is Wachovia's approach to
A) getting the lead out.
B) letting customers opt out.
C) tailoring offers for these customers.
D) soliciting feedback.
E) offering better services.
Q2) What is market basket analysis, and when do retailers utilize it?
Q3) Which of the following statements best describes a customer lifetime value (CLV)?
A) CLV is the value placed upon a retailer by a consumer.
B) CLV is a numerical value of how much a "best customer" shops.
C) CLV is what a customer contributes to a retailer's profits over his or her entire relationship with the retailer.
D) CLV is an assessment of how many valued customers shop with a retailer.
E) CLV is what retailers use to rate the value of guaranteed merchandise.
Q4) What is a customer lifetime value (CLV), and how is it estimated?
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Chapter 11: Managing the Merchandise Planning Process
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92 Verified Questions
92 Flashcards
Source URL: https://quizplus.com/quiz/11899
Sample Questions
Q1) Which of the following schemes is the correct order describing the levels of the merchandise classification scheme from the highest level to the lowest level?
A) Department-Merchandise Group-Classification-Category-stock-keeping unit (SKU)
B) Merchandise Group-Classification-Department-Category-SKU
C) Merchandise Group-Department-Classification-Category-SKU
D) Classification-Department-Category-Merchandise Group-SKU
E) Category-Classification-Merchandise Group-Department-SKU
Q2) After developing a plan for managing merchandise within a category, the next step in the merchandise management process is to
A) allocate the merchandise to the stores.
B) make the purchase.
C) order through vendors.
D) re-evaluate the plan using last year's plan.
E) penetrate new markets.
Q3) Describe both the staple merchandise and fashion merchandise categories.
Q4) How are vendors in a better position to manage a category than a retailer?
Q5) What are the decisions influencing the allocation of merchandise to stores?
Q6) What is the difference between variety and assortment?
Q7) What are the factors that determine the level of required backup stock?
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Chapter 12: Buying Merchandise
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84 Flashcards
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Sample Questions
Q1) ________ target a price-sensitive segment by offering a no-frills product at a discount price.
A) Generic brands
B) Store brands
C) National brands
D) Family brands
E) Diverted merchandise
Q2) Which of the following prohibits vendors offering different retailers different prices and purchase order terms for the same merchandise and quantity?
A) Tying contracts
B) Robinson-Patman Act
C) Resale price maintenance
D) Buybacks
E) Copyright infringement Act
Q3) If there are so many advantages to carrying private brands, why do retailers even bother to sell national brands?
Q4) Wholesale markets for retail buyers include only annual trade shows.
A)True
B)False
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Chapter 13: Retail Pricing
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87 Verified Questions
87 Flashcards
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Sample Questions
Q1) The ________ is the difference between the retail price and the cost of an item.
A) markup
B) markdown
C) break-even point
D) variable cost
E) fixed cost
Q2) What are five factors retailers consider in setting retail prices?
Q3) How does optimization software help retailers in taking markdowns?
A) It gives retailers the point at which it is optimal to job-out and consolidate.
B) It updates pricing based upon actual sales and factors in differences in price sensitivities.
C) It continually updates buyers on sales by price beginning at the point of sale.
D) It dictates markdown merchandise into one percentage markdown per week in the store.
E) It indicates markdowns based on how long the merchandise has been in the store.
Q4) How can working with vendors reduce the number of markdowns?
Q5) What are the ways markdown merchandise can be consolidated?
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15
Chapter 14: Retail Communication Mix
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75 Verified Questions
75 Flashcards
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Sample Questions
Q1) A retailer's magazine advertising campaign builds an image of elegance and high fashion, yet the store's sales promotions emphasize low prices. Because of the inconsistencies, consumers are left confused about the retailer's image and tend to shop elsewhere. What should the store manager do to resolve the problem of inconsistency with the communication mix?
A) The manager should re-train associates to support the image of elegance and fashion.
B) The manager should re-examine the elements of the mix that can be eliminated.
C) The manager should imitate the communication programs of successful competitors.
D) The manager should reduce the prices of the products across all categories.
E) The manager should develop an integrated marketing communication program.
Q2) On a blog, an individual blogger or a group of users regularly post their opinions and various topical information on a web page.
A)True
B)False
Q3) What are the disadvantages associated with using the percentage-of-sales method for establishing a retail communication budget?
Q4) Explain how sentiment analysis can be used by retailers and brands.
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Chapter 15: Human Resources and Managing the Store
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87 Verified Questions
87 Flashcards
Source URL: https://quizplus.com/quiz/182009
Sample Questions
Q1) Mercer was getting bored with his job as a sales clerk in the home department until his manager gave him responsibility for training a new salesperson in his area, which he likes to do. This is an example of
A) management by objective.
B) the unity of command principle.
C) an intrinsic reward.
D) an extrinsic reward.
E) management by exception.
Q2) Describe EEOC's guidelines on sexual harassment.
Q3) On the first day of his new job, Mackey learned the company policies, basic selling skills, and stockroom procedures with the use of videos, audio-visual presentations, and manuals. What type of training is Mackey receiving in this scenario?
A) Blended approach
B) Socialization training
C) Structured training program
D) On-the-job training
E) Etiquette training
Q4) Discuss the legal aspects retailers must abide by when hiring and employing people fairly.
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Chapter 16: Store Layout, Design, and Visual Merchandising
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90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/182010
Sample Questions
Q1) ________ is a display technique in which large quantities of merchandise are displayed together.
A) Price lining
B) Merchandise highlighting
C) Frontal presentation
D) Tonnage merchandising
E) Style/item presentation
Q2) Atmospherics refers to the design of an environment via visual communications, lighting, colors, music, and scent to stimulate customers' perceptual and emotional responses that affect their purchase behavior.
A)True
B)False
Q3) Which of the following store designs contains parallel aisles with merchandise on shelves on both sides of the aisles?
A) Boutique layout
B) Free-form layout
C) Loop
D) Racetrack
E) Grid layout
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Page 18
Chapter 17: Customer Service
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85 Verified Questions
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Source URL: https://quizplus.com/quiz/11905
Sample Questions
Q1) Roselle was upset with the service she received when she was trying to purchase a handbag at a store. First, the salesperson seemed preoccupied with a conversation with another associate. When she finally acknowledged Roselle's presence, the salesperson offered no assistance to Roselle and had minimal information about merchandise. Roselle plans to make a formal complaint to the management. What should the store manager do to recover from this service failure?
A) Motivate sales associates to have an antagonistic attitude while dealing with the customer complaint.
B) Encourage the customer to complain without interruption and then give a sympathetic response.
C) Instruct sales associates to always assume they know what the customer is complaining about.
D) Ensure that the customer is referred to several different store employees to get the issue resolved.
E) Tell the customer to leave feedback on the store's website.
Q2) Why is it important to empower employees for quick resolution of customer problems?
Q3) Define communications gap. What can be done by a retailer to reduce this gap?
Q4) How has technology changed customer expectations with regard to retailers?
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