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Retail Management

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_____ is a term that describes a behavioural pattern of consumers who increasingly turn to the nice, safe and familiar environment of their homes to spend their limited leisure time.

  1. Cocooning

  2. Dating

  3. Extra dating

  4. Flex time

  5. None of these


Correct Option: A
Explanation:

Yes, it is the right answer.

Which of the following is/are retail store layout design(s)?

  1. Classic

  2. Free-form

  3. Layaway

  4. Polygon

  5. All of the above


Correct Option: B
Explanation:

Yes, it is a retail store layout design.

A market research method in which professional shoppers shop a store to assess the service provided by the store employees is known as

  1. comparison shopping

  2. sell-through analysis

  3. mystery shopping

  4. self analysis

  5. None of these


Correct Option: C
Explanation:

Yes, it is the right answer.

An assortment so broad that customers should be able to satisfy all their consumption needs for a particular category by visiting one retailer is called

  1. classification merchandising

  2. category management

  3. classification dominance

  4. core assortment

  5. None of these


Correct Option: C
Explanation:

Yes, it is the right answer.

When a manufacturer sells directly to consumers, thereby competing directly with its retailers, it is known as

  1. direct selling

  2. disintermediation

  3. direct retailing

  4. competitive rivalry

  5. Both (1) and (3)


Correct Option: B
Explanation:

Yes, it is the right answer.

The term ________ refers to the number of retailers carrying a particular product category.

  1. category speciality

  2. distribution intensity

  3. functional product grouping

  4. value retailers

  5. None of these


Correct Option: B
Explanation:

Yes, it is the right answer.

When a group of independent retailers work to make a large purchase from a single supplier, it is called

  1. cumulative reach

  2. buying committee

  3. shoplifting

  4. shrinkage

  5. None of these


Correct Option: E
Explanation:

Yes, it is the right answer.

______ is an organisational design in which employees are grouped into departments that perform specific activities to achieve operating efficiency through specialisation.

  1. Specialty department store

  2. Departmentalisation

  3. Specialisation

  4. Specialty store

  5. None of these


Correct Option: B
Explanation:

Yes, it is the right answer.

Which of the following is an evolutionary theory based on the premise that retail institutions evolve?

  1. Central place theory

  2. Poverty of time

  3. Sliding scale

  4. Trickled down theory

  5. None of these


Correct Option: E
Explanation:

Yes, it is the right answer.

Which of the following terms is used for the theoretical number of potential customers in a retailer's target market that could be exposed to an advertisement in a given medium?

  1. Reach

  2. Fill rate

  3. Coverage

  4. Cumulative reach

  5. None of these


Correct Option: C
Explanation:

Yes, it is the right answer.

Which of the following is an approach to personal selling?

  1. Pick ticket

  2. Trialability

  3. Premarking

  4. Cherry picking

  5. None of these


Correct Option: E
Explanation:

None of these is an approach to personal selling.

_____ is a method of segmenting a retail market using multiple variables including benefit sought, lifestyle and demographics.

  1. Buying situation segmentation

  2. Demographic segmentation

  3. Composite segmentation

  4. Geodemographic segmentation

  5. None of these


Correct Option: C
Explanation:

Yes, it is the right answer.

In which pricing method does a retailer use a competitor's price rather than demand or cost consideration as guides?

  1. Competitive parity method

  2. Competition-oriented pricing

  3. High/low pricing

  4. Horizontal price fixing

  5. None of these


Correct Option: B
Explanation:

Yes, it is the right answer.

What is action alley?

  1. The sales area of a store located immediately after entering

  2. The number of identical products in front of a customer

  3. The location of the retail store where goods are displayed and sales transactions take place

  4. A price incentive offered by manufacturers to induce buyers to place orders at a trade show

  5. None of these


Correct Option: A
Explanation:

Yes, it is the right answer.

_______ is a retail store in which merchandise, selection, presentation, pricing or other unique features act as a magnet for customers.

  1. Destination store

  2. Ribbon centre

  3. Tie-in

  4. Life style centre

  5. None of these


Correct Option: A
Explanation:

Yes, it is the right answer.

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