VSBM Merchandising Management Quiz

  1. Developed by: Vijay Negi

Test your Knowledge about Merchandise Management

Question 1: Illegal practice in which a retailer lures a customer by advertising goods and services at exceptionally low prices, and then tries to convince the person to buy a better, more expensive substitute that is available. The retailer has no intention of selling the advertised item.
Battle of the Brands
Balanced Tenancy
Benchmarking
Bait Advertising

Question 2: Occurs when stores in a planned shopping center complement each other as to the quality and variety of their product offerings.
Battle of the Brands
Balanced Tenancy
Bait Advertising
Benchmarking

Question 3: The competition between manufacturers and retailers for shelf space and profits, whereby manufacturer, private, and generic brands fight each other for more space and control.
Balanced Tenancy
Benchmarking
Battle of the Brands
Bait Advertising

Question 4: Occurs when the retailer sets its own standards and measures performance based on the achievements in its sector, specific competitors, high performance firms, and/or its own prior actions.
Battle of the Brands
Bait Advertising
Benchmarking
Balanced Tenancy

Question 5: Increase in a retail price above the original markup when demand is unexpectedly high or costs are rising.
Analog Model
Additional Markup
Affinity
All-You-Can-Afford Method
Advertising

Question 6: Paid, no personal communication transmitted through out-of-store mass media by an identified sponsor.
Advertising
Additional Markup
Analog Model
Affinity
All-You-Can-Afford Method

Question 7: Exists when the stores at a given location complement, blend, and cooperate with one another, and each benefits from the others' presence.
Additional Markup
Affinity
Advertising
All-You-Can-Afford Method
Analog Model

Question 8: Promotional budgeting procedure in which a retailer first allots funds for each element of the strategy mix except promotion. The funds that are left go to the promotional budget.
Advertising
All-You-Can-Afford Method
Affinity
Additional Markup
Analog Model

Question 9: Computerized site selection tool in which potential sales for a new store are estimated based on sales of similar stores in existing areas, competition at a prospective location, the new store's expected market share at that location, and the size and density of a location's primary trading area.
Affinity
Advertising
All you can afford Method
Additional Markup
Analog Model

Question 10: Performance measure based on a retailer's net sales and total assets. It is equal to net sales divided by total assets.
Asset Turnover
Assortment Merchandise
Assortment Display
Assortment
Atmosphere

Question 11: Selection of merchandise carried by a retailer. It includes both the breadth of product categories and the variety within each category.
Assortment Merchandise
Atmosphere
Assortment Display
Asset Turnover
Assortment

Question 12: An open or closed display in which a retailer exhibits a wide range of merchandise.
Atmosphere
Assortment Display
Asset Turnover
Assortment
Assortment Merchandise

Question 13: Apparel, furniture, autos, and other products for which the retailer must carry a variety of products in order to give customers a proper selection.
Assortment
Asset Turnover
Assortment Merchandise
Atmosphere
Assortment Display

Question 14: Store's physical characteristics that are used to develop an image and draw customers. It is also known as atmospherics.
Asset Turnover
Assortment Display
Assortment
Atmosphere
Assortment Merchandise

Question 15: Positive, neutral, or negative feelings a person has about the economy, politics, goods, services, institutions, and so on.
Augmented Customer Service
Automatic Markdown Plan
Automatic Reordering System
Attitudes

Question 16: Encompasses the actions that enhance the shopping experience and give retailers a competitive advantage.
Automatic Reordering System
Augmented Customer Service
Automatic Markdown Plan
Attitudes

Question 17: Controls the amount and timing of markdowns on the basis of the length of time merchandise remains in stock.
Attitudes
Automatic Reordering System
Augmented Customer Service
Automatic Markdown Plan

Question 18: Computerized approach that combines a perpetual inventory and reorder point calculations.
Attitudes
Automatic Markdown Plan
Automatic Reordering System
Augmented Customer Service

Question 19: Outlines a retailer's planned expenditures for a given time based on expected performance.
Budgeting
Bundled Pricing
Bifurcated Retailing
Business Format Franchising

Question 20: Involves a retailer combining several elements in one basic price.
Bundled Pricing
Bifurcated Retailing
Business Format Franchising
Budgeting

SheKnows

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