retail final quiz questions
Terms in this set (40)
The process by which a retailer attempts to offer the right quantity of the right merchandise in the right place at the right time and meet the company's financial goals is called:
The highest classification level in the buying organization is called the:
A(n) __________ is an assortment of items that customers see as substitutes for one another
Which of the following is a vendor who works with the retailer to develop a better understanding of shopping behavior, create assortments that satisfy consumer needs, and improve the profitability of the merchandise category?
National brands are also known as __________ brands
What is an advantage to a national retailer for selling private labels?
Private label brands can fill assortment voids that are not being met by national
Retail buyers often say they are "going to market." What does "market" mean in this context?
A concentrated area where vendors are permanently located and show new
merchandise during certain times of the year
In order to build the brand equity of their private-label merchandise, a retailer needs to:
create a high level of brand awareness
Brand image is:
a set of associations that are usually organized around some meaningful themes
What can a retailer do to keep customers from being confused about the retailer's image? The retailer can:
develop an integrated marketing communication program to deliver a
comprehensive, consistent message.
The first step in the employee management process is
recruiting and selecting employees
A __________ includes the activities the employee needs to perform and the performance expectations expressed in quantitative terms
Which of the following contain(s) information about the applicant's employment history, previous compensation, reasons for leaving his or her previous employment, education and training, personal health, and references?
Job Application Forms
Which of the following interview questions would be most effective in selecting the best possible job candidate?
"What do you know about this store?"
are critical in socializing new employees and overcoming the differences in the
employee's previous and new roles.
As a(n) __________ type of store manager, Sara treats her employees as equals and asks for their input when she is making a decision about whether to stay open late during the Memorial Day weekend, stock extra inventory for Valentine's Day, or any other decision that will directly affect her employees.
Kaitlyn manages 300 store associates at a Wal-Mart Supercenter. Each day, she leads the associates in the Wal-Mart cheer, creates excitement, and "goes the extra mile" with her associates and customers. Shopping in her store is always an enjoyable experience with enthusiastic sales help, contests, and demonstrations. It could be said that Kaitlyn is a __________ leader.
Steven was recognized as the best store employee of the year. His name, along with the names of other winners, is engraved on a plaque that is prominently displayed in the store. This is an example of:
an extrinsic reward.
Efficient labor scheduling requires the manager to have readily at hand:
POS sales data by day and time of day, knowledge of store traffic patterns, understanding of how store employees impact sales and how bad weather will affect store traffic.
The accounting records for FlashFashions, a women's off-price apparel retailer, showed that it should have inventory of $725,000 at retail. The actual retail value of the inventory in stock was $692,000. To calculate the inventory shrinkage, you would need
retail sales during the period
Why is it important for stores to be designed with flexibility in mind?
Stores with flexible designs can respond to market changes without large-scale
Grid store layouts:
The racetrack layout:
The racetrack layout:
The __________ store layout arranges fixtures and aisles asymmetrically.
At the Home Depot, there is an area of the store that has one of three categories of merchandise throughout the year. In January through March, the area has organization and garage storage merchandise; in April through September, it has lawn, garden and patio merchandise; and, in October through December, it has Christmas merchandise. This special section of the store is an example of a(n):
To determine the productivity of store space, apparel retailers are most likely to use:
sales per square foot
Kara entered Macy's through the main entrance, went up two escalators, turned to the back of the store and walked to the far corner to finally reach the children's department.
In this example, the children's department can be considered a(n) __________ for Kara.
Which of the following statements about the location of departments within retail department and discount stores is true?
The best locations on any floor are those that are closest to the store's entrances,
main aisles, escalators, and elevators.
When Alison went to buy a pair of walking shorts this spring, she first noticed the store had three racks of shorts. Then she noticed all the shorts on one rack were priced at $14.99, all the shorts on the second rack were priced at $19.99, and all the shorts on the third rack were priced at $24.99. What type of merchandise presentation did Alison see?
__________ is a method of displaying merchandise in which the retailer exposes as much of the product as possible to catch the customer's eye.
__________ is the set of activities and programs undertaken by retailers to make the shopping experience more rewarding for their customers.
The difference between the service aspect and the merchandise aspect of the retail offering is __________ caused by intangibility of service.
With five children and several nieces and nephews, Brittany has shopped at a lot of toy stores. She really likes The Toy Corner because she can ask for an age-specific toy and if they don't have it, they order it and have it delivered at a price she is willing to pay. Brittany feels that The Toy Corner:
exceeds customer expectations.
When Ted bought his $500 suit, he asked to have the trousers hemmed. When he picked up his pants after they were altered, he noticed the seamstress had folded the pants under and hemmed them rather than cut the extra material off. Even though the service had been performed, he believed that it was performed in an unacceptable manner. This is an example of a(n) __________ gap.
An electronics retailer surveys past customers and asks them what kind of information they needed before making a purchase. It is trying to bridge the __________ gap by using customer research.
At Sonic Drive In restaurants, employees are timed to measure how quickly a customer can place an order and receive his or her food. When drive-thru employees consistently equal or better the norm, the restaurant manager gives them a $10.00 bonus check. The purpose of this type of incentive is to reduce the __________ gap.
The training of employees in how to deal with people, provide better assistance to customers, and explain the use of complex products to potential customers reduces the __________ gap.
When Alyssa went to pick up her cleaning from a dry cleaning store that guaranteed 24- hour service in all of its ads, she was disappointed to find that her clothes would not be ready until the following day. This is an example of a __________ gap
Distributive fairness is the:
customer's perception of the benefits received compared with his or her costs in
terms of inconvenience or monetary los
Procedural fairness is the:
perceived fairness of the process used to resolve complaints.