RETAIL MANAGEMENT EXAM 2-OSU QUESTIONS
& ACCURATE COMPLETE SOLUTIONS WELL
PASSED
1. Focus Groups A marketing research technique in which a
small group of respondents is interviewed by
a moderator using a loosely structured
format.
2. Model Stock Plan A list of fashion merchandise that indicates in
very general terms (product lines, colors, and
size distri- butions) what should be carried in
a particular mer- chandise category; also
known as a model stock list.
3. Backup Stock The inventory used to guard against going out
of stock when demand exceeds forecasts or
merchan- dise is delayed. Also called butter
stock or safety stock.
4. Lead Time The amount of time between recognition that
an or- der needs to be placed and the point at
which the merchandise arrives in the store and
is ready for sale.
5. ABC Analysis An analysis that rank-orders SKUs by a
profitability measure to determine which
items should never be out of stock, which
should be allowed to be out of stock
occasionally, and which should be deleted from
the stock selection.
6. Different Types of Products copycat brands, premium brands, national
brands,
private label brands, generic brands
1/
8
, RETAIL MANAGEMENT EXAM 2-OSU QUESTIONS
& ACCURATE COMPLETE SOLUTIONS WELL
PASSED
7. Trade Show A temporary concentration of vendors that
provides retailers opportunities to place orders
and view what is available in the marketplace.
8. Markdown Money Funds a vendor gives the retailer to cover lost
gross margin dollars that result from
markdowns and other merchandising issues.
2/
8
& ACCURATE COMPLETE SOLUTIONS WELL
PASSED
1. Focus Groups A marketing research technique in which a
small group of respondents is interviewed by
a moderator using a loosely structured
format.
2. Model Stock Plan A list of fashion merchandise that indicates in
very general terms (product lines, colors, and
size distri- butions) what should be carried in
a particular mer- chandise category; also
known as a model stock list.
3. Backup Stock The inventory used to guard against going out
of stock when demand exceeds forecasts or
merchan- dise is delayed. Also called butter
stock or safety stock.
4. Lead Time The amount of time between recognition that
an or- der needs to be placed and the point at
which the merchandise arrives in the store and
is ready for sale.
5. ABC Analysis An analysis that rank-orders SKUs by a
profitability measure to determine which
items should never be out of stock, which
should be allowed to be out of stock
occasionally, and which should be deleted from
the stock selection.
6. Different Types of Products copycat brands, premium brands, national
brands,
private label brands, generic brands
1/
8
, RETAIL MANAGEMENT EXAM 2-OSU QUESTIONS
& ACCURATE COMPLETE SOLUTIONS WELL
PASSED
7. Trade Show A temporary concentration of vendors that
provides retailers opportunities to place orders
and view what is available in the marketplace.
8. Markdown Money Funds a vendor gives the retailer to cover lost
gross margin dollars that result from
markdowns and other merchandising issues.
2/
8
