Retail Management
Final Exam Questions
Course Introduction
Retail Management explores the principles, strategies, and operations of the retail industry. This course examines the structure and functions of retail organizations, covering topics such as store layout and design, merchandising, customer service, supply chain management, inventory control, pricing strategies, and the impact of technology on retailing. Students will learn about consumer behavior, retail marketing, and the importance of creating a compelling in-store and online shopping experience. Emphasis is placed on developing practical management skills necessary for success in todays dynamic retail environment.
Recommended Textbook
Selling Today Partnering to Create Value 6th Canadian Edition by Gerald L. Manning
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17 Chapters
1402 Verified Questions
1402 Flashcards
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Page 2
Chapter 1: Relationship Selling Opportunities in the Information Economy
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89 Verified Questions
89 Flashcards
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Sample Questions
Q1) Terry McMillan,employed by a manufacturer of small appliances,offers assistance to retailers in such areas as credit policies,pricing,display and store layout.He also collects information regarding acceptance of his firm's products.He is performing the duties of a/an:
A)detail salesperson.
B)inside salesperson.
C)outside salesperson.
D)sales engineer.
E)missionary salesperson.
Answer: A
Q2) Bill imagines the psychic rewards associated with his sales position.This psychic income provides:
A)motivation to become an entrepreneur.
B)motivation to earn more money.
C)motivation to achieve higher levels of performance.
D)motivation to earn more company sponsored trips.
E)motivation to earn more vacation time.
Answer: C
Q3) ________ income helps satisfy our need for recognition and security.
Answer: Psychic
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Chapter 2: Evolution of Selling Models That Complement the Marketing Concept
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Sample Questions
Q1) Promotion include the following forms:
A)sales promotion,public relations,personal selling,advertising.
B)market research,personnel,product publicity.
C)product research,product design,product production,product publicity.
D)public relations,place,personal selling,personnel.
E)sales promotion,personnel,public relations,and product research.
Answer: A
Q2) Altering sales behaviour during customer interaction in order to improve communication is called:
A)adaptive selling.
B)consultative selling.
C)creative selling.
D)customer-oriented selling.
E)value-added selling.
Answer: A
Q3) Consultative-style selling,which emerged in the late 1960s and early 1970s,is an extension of the marketing concept.
A)True
B)False
Answer: True
Page 4
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Chapter 3: Creating Value With a Relationship Strategy
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Sample Questions
Q1) ________is shaped by the facts,opinions,beliefs and perceptions you have about yourself that influence the way you relate to others.
Answer: Self-concept
Q2) Win-win salespeople have adopted all of the following behaviors except:
A)help others solve their problems.
B)let life happen to them.
C)make life a joyous happening.
D)fix what caused the problem.
E)make commitments to themselves and to others and keeps them both.
Answer: B
Q3) Relationship selling involves:
A)an approach to selling that changes according to the current ethical standards.
B)collaborating rather than competing with competitors.
C)building of a business relationship before building a social relationship.
D)a style of selling that was first used successfully in the 1950s.
E)a style of selling that favours close,trusting,and long-term relationship over the quick sell.
Answer: E
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Chapter 4: Communication Styles: a Key to Adaptive Selling Today
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Sample Questions
Q1) Reflective individuals:
A)are outspoken and expressive.
B)want to create social relationships.
C)tend to reflect but rely on others' opinions..
D)like to dominate over others
E)gather all information before forming an opinion.
Q2) Bob has been described as having a Directive style.Bob has:
A)low dominance/high sociability
B)high dominance/low sociability
C)high dominance/high sociability
D)low dominance/low sociability
E)low communication-style flexing ability
Q3) Scott has been described as having a Reflective style.He has:
A)high dominance/high sociability
B)high communication-style flexing skills
C)high dominance/low sociability
D)low dominance/high sociability
E)low dominance/low sociability
Q4) ___________ people tend to curb emotional expression and are less likely to display warmth openly.
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Chapter 5: Ethics: the Foundation for Relationships in Selling
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Sample Questions
Q1) Business slander,business libel and product disparagement are all forms of:
A)aggressive marketing strategies.
B)market penetration strategies.
C)business defamation.
D)anti-competitive marketing.
E)negative marketing strategies.
Q2) In the field of personal selling,the temptation to engage in unethical conduct is always present.Identify four types of temptations experienced by sales personnel.
Q3) Sam was able to void a contract after he purchased some goods within a certain period of time as a result of the cooling-off laws.
A)True
B)False
Q4) A sales person's ethics and values contribute more to sales success in the long-run than do techniques and strategies they may employ.
A)True
B)False
Q5) In the field of selling,there are both________ standards and________ standards.
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Q6) Business defamation consists of business slander,business libel,and _______.
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Chapter 6: Creating Product Solutions
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Sample Questions
Q1) The underlying criteria for determining which features to discuss in a sales presentation is:
A)features that are patent protected.
B)features that provide you with a competitive advantage.
C)features that address the customer's needs.
D)features which explain the cost of the product.
E)features that are technologically advanced.
Q2) ______________ refers to quality certification from the International Organization for Standardization.
Q3) A product feature is anything a customer can hear,touch,feel,or see.
A)True
B)False
Q4) Explain how converting features to benefits increases value to the customers.
Q5) Ariel believes it is important to employ a product strategy.In addition to being a product expert she should:
A)adopt a double win philosophy.
B)practice communication-style flexing.
C)sell the benefits of her products.
D)know the personalities of her clients.
E)know about the industry.
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Chapter 7: Product-Selling Strategies That Add Value
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Sample Questions
Q1) When Jennifer makes decisions,engages in activities,and communicates with the purpose to create and maintain her firm's intended product concept in her customer's mind,she is engaging in:
A)brand imaging.
B)relationship positioning.
C)product management.
D)product positioning.
E)relationship management.
Q2) High involvement buyers tend to be:
A)mostly concerned about the quality.
B)mostly concerned about the price.
C)mostly concerned about the value.
D)emotionally involved with the brand.
E)mostly concerned about the product benefits.
Q3) How do salespeople play a role in the product positioning strategy?
Q4) Salespeople who focus on transactional selling will be the ones best able to compete with online vendors in the future.
A)True
B)False
Q5) Explain the significance of the potential product concept for a salesperson.
Page 9
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Chapter 8: The Buying Process and Buyer Behaviour
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Sample Questions
Q1) The objective of customer strategy is to understand consumer's buying behaviour.
A)True
B)False
Q2) The three major types of consumer buying situations are:
A)habitual buying decision,variety-seeking buying decision and complex buying decision.
B)variety-seeking buying decision,complex buying decision and brand loyalty decision.
C)low involvement buying decision,medium involvement buying decision and high involvement buying decision.
D)systems buying decision,value-added buying decision and relationship buying decision.
E)new task buy decision,straight rebuy decision and modified rebuy decision.
Q3) Maslow's hierarchy of needs theory rests on the assumption that:
A)if you cannot satisfy one need you move on to the next level of need.
B)the higher level needs have to be satisfied before the lower level needs can be satisfied.
C)physiological needs have to be satisfied after social needs.
D)when a lower-level need is satisfied,the next level of need demands attention.
E)all needs are equally important at all times.
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Page 10
Chapter 9: Developing and Qualifying a Prospect Base
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Sample Questions
Q1) Customer attrition is:
A)customer dissatisfaction.
B)customer disloyalty.
C)the loss of customers.
D)the growth of customers.
E)the need to educate customers.
Q2) Which of the following statement about prospecting is not true?
A)Prospecting can take place in any environment.
B)Prospecting requires self-discipline.
C)Prospecting should start with a careful study of your market,product or service.
D)Prospecting should not be integrated into a regular sales call.
E)Prospecting can be easily integrated into a regular sales call.
Q3) Information collected on a prospect's previous purchases is referred to as sales intelligence.
A)True
B)False
Q4) Good prospect base management should result in a ________ ,which means that there is sufficiently large number of prospects at each stage in the sales process.
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11
Chapter 10: Approaching the Customer With Adaptive Selling
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Sample Questions
Q1) Multi-call presentations have become more common in retail selling.
A)True
B)False
Q2) A tentative list of activities that will take place during the sales interview is called the Six-Step _______.
Q3) "Mr.Fabio,are you aware of our company's extended warranty program?",is an example of:
A)the agenda approach.
B)the survey approach.
C)the question approach.
D)the product demonstration approach.
E)the referral approach.
Q4) Changing selling strategies to suite the unique needs,wants and concerns of each customer is called:
A)adaptive selling.
B)suggestion selling.
C)personal selling.
D)team selling.
E)responsive selling.
Q5) List and explain the steps on the Six-Step Presentation Plan.
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Chapter 11: Determining Customer Needs With a
Consultative Questioning Strategy
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Sample Questions
Q1) A strategy for developing effective two-way communication between the buyer and seller is to use:
A)specific survey questions.
B)solution questions.
C)active listening.
D)general survey questions.
E)proactive listening.
Q2) List and describe the four most common types of questions used in the field of personal selling.
Q3) " What particular aspect of the contemporary decorating style do you like",is an example of a:
A)pleasure question.
B)specific survey question.
C)general survey question.
D)confirmation question.
E)summary confirmation question.
Q4) If a salesperson asks "How do you feel about using a computer to keep your expense records?" he is using a general __________ question.
Q5) List and discuss the four major parts of the Need-Satisfaction Model.
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Chapter 12: Creating Value With the Consultative Presentation
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Sample Questions
Q1) Kamal has indicated he wants a car which will enable him to transport his skis without the use of a ski rack.The salesperson should therefore emphasize the following during the demonstration:
A)outdoor temperature sensors
B)affordability of the car
C)superior tires for wet and icy driving conditions
D)convenient place to mount a ski rack
E)foldable rear seats to make room for long objects
Q2) A portfolio would be an appropriate tool for a salesperson selling:
A)a yacht.
B)a home entertainment system.
C)an interior design service.
D)a home.
E)cars.
Q3) In a reminder presentation,the salesperson's objective is to:
A)understand the buyer's problem.
B)offer a product solution to the buyer.
C)persuade the prospect to buy the product.
D)reinforce information the buyer knows about the product features and benefits.
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E)inform the prospect of product features and benefits.
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Chapter 13: Negotiating Buyer Concerns
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Sample Questions
Q1) Price and cost are the same thing.
A)True
B)False
Q2) Negotiating always leads to one party winning and the other party losing.
A)True
B)False
Q3) The best strategy to overcome need resistance is to:
A)explain the advantages of making a decision now.
B)explain how your product is superior to competitor's products.
C)show how your product is a good investment.
D)give a price discount.
E)establish credibility through referrals.
Q4) List five common types of buyer concerns.
Q5) Mutual satisfaction to the buyer and seller is the cornerstone of the win-win philosophy.
A)True
B)False
Q6) List some tactics that trained negotiators utilize during the negotiations process,and how salespeople should respond to those tactics.
Q7) Explain why negotiation should be a win-win outcome.
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Chapter 14: Adapting the Close and Confirming the Partnership
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Sample Questions
Q1) Another name for the impending event close is:
A)the management close.
B)the imminent close.
C)the positive/negative technique.
D)the assumption close.
E)the balance-sheet close.
Q2) A closing technique which involves using senior management in the sales presentation is called the:
A)incremental commitment close.
B)balance sheet close.
C)company close.
D)specialist close.
E)management close.
Q3) Of all the closing techniques,the trial close is the best method for a salesperson to use.
A)True
B)False
Q4) "Do you have this skirt in pink?" is a verbal buying clue.
A)True B)False
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Chapter 15: Servicing the Sale and Building the Partnership
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Sample Questions
Q1) Most buyers will view suggestion selling,regardless of how it is handled,as an imposition.
A)True
B)False
Q2) Customer service is a ________ effort.
A)individual
B)sales person's
C)team
D)company
E)sellers
Q3) List five service behaviours a salesperson can use to improve business-to-business selling.
Q4) The most costly follow-up method is a:
A)personal visit.
B)call report.
C)fax.
D)telephone call.
E)letter or card.
Q5) What are some strategies for dealing with customer complaints?
Q6) What is the difference between suggestion selling and cross selling?
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Chapter 16: Opportunity Management: the Key to Greater Sales Productivity
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Sample Questions
Q1) Preparing daily to-do lists is a form of time management strategy.
A)True
B)False
Q2) More time can be spent on face-to-face selling with improved time and territory management.
A)True
B)False
Q3) A goal such a "I want to sell more" is not good because it is:
A)too vague.
B)not reachable.
C)too ambitious.
D)not relevant.
E)too specific.
Q4) Good record-keeping systems which allow sales people to check their own progress also help in achieving set goals.This is because the goals can be:
A)specified.
B)attained.
C)tracked.
D)recognized.
E)realized.
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Chapter 17: Management of the Sales Force
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Sample Questions
Q1) Which compensation plan would appeal to a salesperson who likes the idea of "pay for performance," but also likes some job security?
A)training salary with reviews
B)straight salary
C)commission plan with a draw provision
D)fixed salary plus bonus
E)100-percent commission or straight commission plan
Q2) Strategic planning:
A)focuses only on the future of the company.
B)is the new "mantra" in business.
C)avoids decision making.
D)is part of every business operation.
E)gives meaning and direction to the sales force.
Q3) __________ is an intrinsic reward that occurs when a duty or task is performed.
Q4) The sales manager who appraises the performance of his/her sales personnel regularly is displaying the leadership quality known as "consideration."
A)True
B)False
Q5) What is the evaluation process for measuring salesperson performance?
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