Retail Management Test Questions
Course Introduction
Retail Management explores the dynamic and multifaceted world of retailing, providing students with a comprehensive understanding of retail operations, merchandising, store layout, supply chain management, customer service, and digital transformations within the industry. This course equips learners with the strategic skills necessary to analyze market trends, manage retail formats, develop effective pricing and promotional strategies, and understand consumer buying behavior. Emphasis is placed on both traditional retail frameworks and the rapidly evolving e-commerce landscape, preparing students for successful careers in a highly competitive global retail environment.
Recommended Textbook
Marketing Management Knowledge and Skills 11th Edition by J. Paul Peter
14 Chapters 1148 Verified Questions
1148 Flashcards
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Page 2
Chapter 1: Strategic Planning and the Marketing Management Process
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66 Verified Questions
66 Flashcards
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Sample Questions
Q1) Which of the following strategies focuses primarily on increasing the sales of present products to present customers?
A) Market development strategy
B) Product development strategy
C) Diversification strategy
D) Market penetration strategy
Answer: D
Q2) An organization's mission statement must be _____ to be able to provide direction and guidelines to management when they are choosing between alternative courses of action.
A) achievable
B) motivational
C) generic
D) specific
Answer: D
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Page 3
Chapter 2: Marketing Research: Process and Systems for Decision Making
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) M&N,a leading cosmetic company,recently launched a test marketing initiative for its line of cosmetics for preteens between the ages of 9 and 14 years.To promote the product,its marketing team undertook a campaign where it invited groups of preteens to try out the cosmetics in malls and conducted a session to obtain feedback from them.The feedback from the preteens helped the team understand the ideas that these preteens had about their products.Which of the following methods of collecting data did the marketing team of M&N utilize in this scenario?
A) Observational research
B) Focus groups
C) Mathematical modeling
D) Experimental research
Answer: B
Q2) One advantage of internet surveys is:
A) that they are accurate and free from respondents' self-selection bias.
B) that responses do not need to be checked for duplication.
C) the ease of generating sample frames.
D) that real-time data processing is possible.
Answer: D
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Chapter 3: Consumer Behavior
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Which of the following is an example of an experiential source of information for making a consumer purchase decision?
A) Trying on various swimsuits
B) An eye-catching sign in a store display
C) Reading about a product's quality in Consumer Reports
D) An advertisement in the midst of several movie trailers
Answer: A
Q2) For the marketing manager,social classes offer some insights into consumer behavior that are potentially useful:
A) for studying individual consumers.
B) as a market segmentation variable.
C) for changing the structure of the social classes.
D) to form buying centers within the company.
Answer: B
Q3) Marketers can create brand equity by:
A) selling the product in prestigious outlets that are exclusive.
B) ensuring ready availability of the product through retail chains.
C) collecting comparative information about competitive brands.
D) making the product available at all convenience stores.
Answer: A
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Chapter 4: Business, government, and Institutional Buying
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79 Verified Questions
79 Flashcards
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Sample Questions
Q1) Organizations that are highly _____ are less likely to have joint decision-making.
A) democratic
B) cost-centered
C) centralized
D) profitable
Q2) An organization's routine purchase changes when a supplier discontinues a product.In such a situation,which purchasing approach would the organizational buyer be most likely to use?
A) Straight rebuy
B) Modified rebuy
C) New task rebuy
D) Straight task buy
Q3) The _____ in an organization's buying center has the formal or informal power to select or approve the supplier that receives the contract in an organization.
A) initiator
B) influencer
C) user
D) decider
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Chapter 5: Market Segmentation
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79 Flashcards
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Sample Questions
Q1) The 2002 promotional campaign for a line of cruises by Celebration emphasized the various activities,such as hang gliding,mountaineering,hiking,and scuba diving that people taking any of the Celebration cruises could participate in.The cruise line was trying to dispel the misconception that cruises are boring and meant only for older and more conservative people.Which of the following categories of consumers,according to the VALS framework,would Celebration's advertisements appeal to the most?
A) Survivors
B) Believers
C) Experiencers
D) Thinkers
Q2) The ad for Concordia kitchen cabinets states,"For an exceptional look in cabinetry that you won't find anywhere else,buy Concordia cabinets." This is an example of positioning:
A) based on superiority to competitive products.
B) in terms of superior product users.
C) based on being a cost-leader in the market.
D) relative to a product class.
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Chapter 6: Product and Brand Strategy
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88 Flashcards
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Sample Questions
Q1) A _____ consists of several product lines,or groups of products that share common characteristics,distribution channels,customers,or uses?
A) product variant
B) product anchor
C) product mix
D) product feature
Q2) What is the legal term for a brand?
A) Generic mark
B) Emblem
C) Trademark
D) Watermark
Q3) Major and minor equipment such as basic machinery,tools,and other processing facilities are classified as _____.
A) specialty goods
B) organizational goods
C) semifinished goods
D) agricultural goods
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Chapter 7: New Product Planning and Development
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Products that are inventions and create a whole new market are called _____.
A) new-to-the-world products
B) new-to-the-firm products
C) additions to existing product lines
D) product improvements
Q2) In which stage of the new product development process is a development budget established and some preliminary marketing and technical research undertaken?
A) Idea generation
B) Project planning
C) Test marketing
D) Commercialization
Q3) In new product planning and development,_____ costs refer not only to alternative uses of funds spent on product failures but also to the time spent in unprofitable product development?
A) sunk
B) direct
C) research and development
D) opportunity
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Chapter 8: Integrated Marketing Communications
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Which of the following statements about the methods of establishing advertising budgets is true?
A) The per-unit expenditure approach is most popular in retailing.
B) The percent-of-sales method is popular with higher-priced merchandise.
C) The all-you-can-afford approach to budgeting is a "followership" strategy.
D) The task approach is often used in conjunction with the research approach.
Q2) Which of the following promotion tools is most likely to be successful in aiding the comprehension process of potential buyers?
A) Personal selling
B) Advertising
C) Sales promotion
D) Public relation
Q3) Producers help retailers who carry their brands by all of the following ways EXCEPT:
A) arranging with retailers to distribute coupons.
B) setting up special displays in retail stores.
C) featuring their brands in retailers' ads.
D) holding promotional events in retail stores.
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Chapter 9: Personal Selling, relationship Building, and Sales Management
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79 Verified Questions
79 Flashcards
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Sample Questions
Q1) _____ represent(s)specific sales goals assigned to each territory or unit over a designated time period.
A) Time to market
B) Activity quotas
C) Sales assignments
D) Sales quotas
Q2) As long as production continues to expand through the development of new and highly technical products,_____ will continue to be an important part of marketing strategy.
A) personal selling
B) public relations
C) mass production
D) exclusive distribution
Q3) _____ are used in certain industries such as pharmaceuticals to focus solely on promotion of existing products and introduction of new products.
A) Missionary salespeople
B) Technical sales specialists
C) Cross-functional sales teams
D) Hierarchical sales teams
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Chapter 10: Distribution Strategy
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85 Flashcards
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Sample Questions
Q1) Which of the following types of retail operations does the longstanding Sears' motto,"Sears has everything," exemplify?
A) Specialty stores
B) Convenience stores
C) Department stores
D) Internet stores
Q2) _____ compete with other retailers on the basis of offering lower prices on products in their large assortments.
A) Warehouse clubs
B) Convenience stores
C) Department stores
D) Supermarkets
Q3) Merchants that are primarily engaged in buying,taking title to,usually storing and physically handling goods in large quantities,and reselling the goods to retailers or to industrial or business users are called _____.
A) agents
B) logistics companies
C) wholesalers
D) vendors
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Page 12
Chapter 11: Pricing Strategy
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86 Flashcards
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Sample Questions
Q1) It is common for the manufacturer of a new product to have to pay a retailer $30,000 in order to get the shelf space needed to sell its new product in a particular retail establishment.This $30,000 fee is an example of a _____ allowance.
A) slotting
B) promotional
C) quantity
D) functional
Q2) Which of the following best explains why Frito-Lay's potato chips are priced at 69 cents a bag rather than 70 cents?
A) To encourage consumers to think these chips are less expensive
B) To gain more consumers who are not too keen about the quality of the chips
C) To create a signal that these chips are exceptionally fine
D) To increase sales by giving discount offers
Q3) Which of the following is a type of psychological pricing strategy?
A) Cost-plus pricing
B) Rate-of-return pricing
C) Markup pricing
D) Prestige pricing
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Chapter 12: The Marketing of Services
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93 Verified Questions
93 Flashcards
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Sample Questions
Q1) _____ refers to the service provider's efforts to understand the customers' needs and then to provide services as best as possible.
A) Assurance
B) Intangibility
C) Empathy
D) Quality
Q2) Banks offering an account that combines checking,savings,credit card and auto loan features are:
A) bundling services.
B) providing services to limited groups of employees.
C) marketing services only through branches.
D) not technologically driven.
Q3) Which of the following explains the reason that the definition of what constitutes good service quality is difficult?
A) Services are not labor intensive.
B) Services are examined objectively.
C) Service quality is measured against performance.
D) Service quality is measured against standards.
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14
Chapter 13: Global Marketing
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100 Flashcards
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Sample Questions
Q1) The workforce of the nation,Sansania,is highly skilled and dedicated.They also possess excellent linguistic abilities which enable them to communicate well with people of different nations and as a result,exports and tourism have flourished in Sansania when compared to its neighboring countries.Sansania has established a competitive advantage over its neighboring countries due to:
A) demand conditions.
B) country strategy, structure and rivalry.
C) related and supporting industries.
D) factor conditions.
Q2) _____ can be used as a strategy for bypassing restrictions on advertising enforced by some foreign governments.
A) Global advertising agencies
B) Telemarketing
C) Sales promotions
D) Strategic alliances
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Chapter 14: Appendix: Portfolio Models
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Sample Questions
Q1) The cellphone market is experiencing rapid growth,but the cellphones made by Broadwing Inc.,have such a low market share that Broadwing is looking to sell its cell phone division.According to the BCG Portfolio Model,the Broadwing cellphone division would be an example of a _____.
A) dog
B) cash cow
C) question mark
D) star
Q2) The biotechnology industry has experienced rapid growth in recent years.One of the companies at the forefront of research on disease and insect-resistant seeds is Biotex's biotech division.The success of this division has led to many economists call it one of the leading firms in the market.In terms of the BCG Portfolio Model,Biotex's biotech division is a _____.
A) dog
B) cash cow
C) question mark
D) star
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