Retail Management Exam
Study online at https://quizlet.com/_dgfeq4
1. The retailer's information system determines the _____ perpetual inventory
by comparing the sales made through the POS termi-
nals with the shipments received by the store.
2. Which statement about store brands is accurate? d. Retailers often develop
a. Store brands are limited in variety when compared the design and specifica-
to national brands tions for these products
b. National brand vendors are not involved in the de-
velopment of these products
c. These products are sold to competing retailers
d. Retailers often develop the design and specifica-
tions for these products
3. Spring Clean, Sparkle Glass, and Dazzle Floor are vari- umbrella brand
ous cleaning liquids marketed under the brand name
Clean Homes. Therefore, Clean Homes is a(n):
4. The relationship between what consumers receive and Value
what they have to pay for it
5. A price experiment: d. is a method of deter-
a. cannot be performed if the retailer uses POS termi- mining the most profitable
nals price for a product
b. is a less accurate method of determining buyer re-
sponse to price changes than a consumer panel
c. is a quick and efficient method to decide on a price
for a product
d. is a method of determining the most profitable price
for a product
e. is useful for obtaining data for a cost-oriented pric-
ing strategy
6.
1/8
, Retail Management Exam
Study online at https://quizlet.com/_dgfeq4
______ is defined as the voluntary actions taken by a Corporate social responsi-
company to address the ethical, social, and environ- bility
mental impacts of its business operations.
7. Which of these is the least likely factor that retailers a. language barriers
consider in setting prices?
a. language barriers
b. the cost of the merchandise and services
c. legal restrictions
d. competition
e. price sensitivity of consumers
8. Beginning in late October, department stores put seasonal
out their holiday decorations and advertise Christmas
products. They know this merchandise must be sold in
the next two months or it will have to be discounted.
This is an example of ______ merchandise.
9. ________ is the amount of time between the recognition Lead time
that an order needs to be placed and the point at which
the merchandise arrives in the store and is ready for
sale.
10. Which statement is true about an everyday low-pricing b. EDLP retailers do not
(EDLP) strategy? have to incur the labor
a. It allows retailers to charge higher prices to cus- costs of changing price
tomers who are not price sensitive tags
b. EDLP retailers do not have to incur the labor costs
of changing price tags
c. The use of EDLP increases the need for advertising
d. Customers need to wait for items to go on sale
e. Slow-selling merchandise can be sold by discounting
the price
2/8
Study online at https://quizlet.com/_dgfeq4
1. The retailer's information system determines the _____ perpetual inventory
by comparing the sales made through the POS termi-
nals with the shipments received by the store.
2. Which statement about store brands is accurate? d. Retailers often develop
a. Store brands are limited in variety when compared the design and specifica-
to national brands tions for these products
b. National brand vendors are not involved in the de-
velopment of these products
c. These products are sold to competing retailers
d. Retailers often develop the design and specifica-
tions for these products
3. Spring Clean, Sparkle Glass, and Dazzle Floor are vari- umbrella brand
ous cleaning liquids marketed under the brand name
Clean Homes. Therefore, Clean Homes is a(n):
4. The relationship between what consumers receive and Value
what they have to pay for it
5. A price experiment: d. is a method of deter-
a. cannot be performed if the retailer uses POS termi- mining the most profitable
nals price for a product
b. is a less accurate method of determining buyer re-
sponse to price changes than a consumer panel
c. is a quick and efficient method to decide on a price
for a product
d. is a method of determining the most profitable price
for a product
e. is useful for obtaining data for a cost-oriented pric-
ing strategy
6.
1/8
, Retail Management Exam
Study online at https://quizlet.com/_dgfeq4
______ is defined as the voluntary actions taken by a Corporate social responsi-
company to address the ethical, social, and environ- bility
mental impacts of its business operations.
7. Which of these is the least likely factor that retailers a. language barriers
consider in setting prices?
a. language barriers
b. the cost of the merchandise and services
c. legal restrictions
d. competition
e. price sensitivity of consumers
8. Beginning in late October, department stores put seasonal
out their holiday decorations and advertise Christmas
products. They know this merchandise must be sold in
the next two months or it will have to be discounted.
This is an example of ______ merchandise.
9. ________ is the amount of time between the recognition Lead time
that an order needs to be placed and the point at which
the merchandise arrives in the store and is ready for
sale.
10. Which statement is true about an everyday low-pricing b. EDLP retailers do not
(EDLP) strategy? have to incur the labor
a. It allows retailers to charge higher prices to cus- costs of changing price
tomers who are not price sensitive tags
b. EDLP retailers do not have to incur the labor costs
of changing price tags
c. The use of EDLP increases the need for advertising
d. Customers need to wait for items to go on sale
e. Slow-selling merchandise can be sold by discounting
the price
2/8
