UARK MKTG 4433 Exam 4 - Nicole Cox Study Guide
Average Price - ANSWER The mean amount a retailer sells their products or services
during a specific time period (usually one year)
A category manager uses average price to: - ANSWER Compare things to market (at,
above, below?)
T/F :Average price does vary naturally by location (gas and produce) and/or season -
ANSWER True
As average price is going through production and growth, it tends to be more expensive,
as it is going through maturity: - ANSWER It tends to be less
Sales: - ANSWER All sales dollars collected for goods and services
Allowances: - ANSWER Buy something and then the next day the price goes down, you
can return it to the store and get the difference
Discounts: - ANSWER Reduction in price given to the final consumer
Sales are important to the retailer because: - ANSWER They are an indication of how
they will do with profit
, Overall Sales increase % indicates: - ANSWER Measure of growth
You should only use comparable sales increase % when: - ANSWER The store is more
than a year old
Measure of health and efficiency: - ANSWER How well you did at producing new sales
with what you already have
When comparing sales increase must compare to: - ANSWER -Sales in the market and
channel
-Last year's sales
-Competition
-Budget (see how it compares to predictions)
-Compare to the chain
Initial Margin (initial markup or markup): - ANSWER Difference between the original
retail price and the original price of the merchandise
Not a sale until: - ANSWER It goes through the cash register (something can go wrong
and reduce its valuation from the loading dock to the register)
Initial Margin Mix: - ANSWER The initial margin for the entire category of products
Average Price - ANSWER The mean amount a retailer sells their products or services
during a specific time period (usually one year)
A category manager uses average price to: - ANSWER Compare things to market (at,
above, below?)
T/F :Average price does vary naturally by location (gas and produce) and/or season -
ANSWER True
As average price is going through production and growth, it tends to be more expensive,
as it is going through maturity: - ANSWER It tends to be less
Sales: - ANSWER All sales dollars collected for goods and services
Allowances: - ANSWER Buy something and then the next day the price goes down, you
can return it to the store and get the difference
Discounts: - ANSWER Reduction in price given to the final consumer
Sales are important to the retailer because: - ANSWER They are an indication of how
they will do with profit
, Overall Sales increase % indicates: - ANSWER Measure of growth
You should only use comparable sales increase % when: - ANSWER The store is more
than a year old
Measure of health and efficiency: - ANSWER How well you did at producing new sales
with what you already have
When comparing sales increase must compare to: - ANSWER -Sales in the market and
channel
-Last year's sales
-Competition
-Budget (see how it compares to predictions)
-Compare to the chain
Initial Margin (initial markup or markup): - ANSWER Difference between the original
retail price and the original price of the merchandise
Not a sale until: - ANSWER It goes through the cash register (something can go wrong
and reduce its valuation from the loading dock to the register)
Initial Margin Mix: - ANSWER The initial margin for the entire category of products
