Retail Management Test 1 Questions and Answers

Retail Management Test 1 Questions
and Answers5

Strategic Retail Planning Process - ANSWERS -1. Define the Business Mission

2. Conduct a SWOT Analysis

3. Identify Strategic Opportunities

4. Evaluate Strategic Opportunities

5. Establish Specific Objectives & Allocate Resources

6. Develop a Retail Mix to implement the strategy

7. Evaluate performance & Make Adjustments



Which of the following companies is Not a retailer?



a. McDonald's

b. Holiday Inn

c. Macy's

d. eBay

e. All are retailers - ANSWERS -D. eBay



What is the annual compensation(salary plus bonus) of a typical Walmart Supercenter 30-
something store manager?



a. Under $49,999

b. $50,000 to $88,999

c. $90,000 to $149,999

, d. Over $150,000 - ANSWERS -D. Over $150,000



Which of the following products/ concepts was initiated or developed by retailer buyers?



a. Tea bags

b. Panty hose

c. Rudolph the Red-Nosed Reindeer

d. Establishing Thanksgiving on the 3rd Thursday of November

e. All of these products/ concepts were developed/ initiated by retailers. - ANSWERS -e. All of
these products/ concepts were developed/ initiated by retailers.



What is the largest company in the world in terms of number of employees?



a. Walmart

b. General Electric

c. IBM

d. ExxonMobil

e. Mitsubishi - ANSWERS -a. Walmart



Which of the following retailers is owned by a company headquartered outside the US?



a. Food Lion

b. Ben & Jerry's Ice Cream

c. 7-Eleven

d. A&P supermarkets

e. All of these are owned by foreign companies. - ANSWERS -e. All of these are owned by foreign
companies.