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RETAIL INDUSTRY FINAL EXAM QUESTIONS WITH COMPLETE ANSWERS
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RETAIL INDUSTRY FINAL EXAM QUESTIONS WITH COMPLETE ANSWERS
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RETAIL INDUSTRY FINAL EXAMQUESTIONS WITH COMPLETE
ANSWERS
The ppprocess ppby ppwhich ppa ppretailer ppattempts ppto ppoffer ppthe ppright ppquantity ppof
ppthe ppright ppmerchandise ppin ppthe ppright ppplace ppat ppthe ppright pptime ppand ppmeet
ppthe ppcompany's ppfinancial ppgoals ppis ppcalled:
a. ppcategory ppmanagement.
b. ppquick ppresponse ppinventory ppmanagement.
c. ppmerchandise ppmanagement.
d. ppinventory ppcontrol.
e. ppmaterials ppprocurement ppand pphandling. pp- ppAnswer ppc. ppmerchandise
ppmanagement.
The pphighest ppclassification pplevel ppin ppthe ppbuying pporganization ppis ppcalled ppthe:
a. ppcategory ppgroup.
b. ppclassification ppgroup.
c. ppdepartment ppgroup.
d. ppmerchandise ppgroup.
e. ppdivision ppgroup. pp- ppAnswer ppd. ppmerchandise ppgroup.
A(n) pp__________ ppis ppan ppassortment ppof ppitems ppthat ppcustomers ppsee ppas
ppsubstitutes ppfor ppone ppanother.
a. ppSKU
b. ppmerchandise ppcategory
c. ppmerchandise ppclassification
d. ppinventory ppunit
e. ppassortment ppplan pp- ppAnswer ppb. ppmerchandise ppcategory
Which ppof ppthe ppfollowing ppis ppa ppvendor ppwho ppworks ppwith ppthe ppretailer ppto
ppdevelop ppa ppbetter ppunderstanding ppof ppshopping ppbehavior, ppcreate ppassortments
ppthat ppsatisfy ppconsumer ppneeds, ppand ppimprove ppthe ppprofitability ppof ppthe
ppmerchandise ppcategory?
a. ppAssortment ppManager.
b. ppCategory ppCaptain.
c. ppCategory ppManager.
d. ppCategory ppSpecialist.
e. ppConsumer ppAdvocate. pp- ppAnswer ppb. ppCategory ppCaptain.
, National ppbrands ppare ppalso ppknown ppas pp__________ ppbrands.
a. ppgeneric
b. ppprivate-label
c. ppexclusive
d. ppmanufacturer
e. ppdistributor pp- ppAnswer ppd. ppmanufacturer
What ppis ppan ppadvantage ppto ppa ppnational ppretailer ppfor ppselling ppprivate pplabels?
a. ppThere ppis ppless ppsteps ppand ppsupply ppchain ppresources ppneeded ppto ppdevelop
ppprivate pplabel ppproduct.
b. ppThe ppretailer ppsaves ppcosts ppas ppit ppdoes ppnot ppneed ppto ppmarket ppprivate pplabel
ppproducts.
c. ppThere ppis ppless pprisk ppinvolved ppwith ppselling ppprivate pplabel ppbrands.
d. ppPrivate pplabel ppbrands pphave ppmore ppclout ppthan ppnational ppbrands.
e. ppPrivate pplabel ppbrands ppcan ppfill ppassortment ppvoids ppthat ppare ppnot ppbeing ppmet
ppby ppnational ppbrands. pp- ppAnswer ppe. ppPrivate pplabel ppbrands ppcan ppfill
ppassortment ppvoids ppthat ppare ppnot ppbeing ppmet ppby ppnational ppbrands.
Retail ppbuyers ppoften ppsay ppthey ppare pp"going ppto ppmarket." ppWhat ppdoes pp"market"
ppmean ppin ppthis ppcontext?
a. ppA ppshopping ppcenter ppin ppwhich ppthe ppfirm ppplans ppto ppopen ppa ppnew ppstore.
b. ppA ppconcentrated pparea ppwhere ppvendors ppare pppermanently pplocated ppand
ppshow ppnew ppmerchandise ppduring ppcertain pptimes ppof ppthe ppyear.
c. ppA ppgeographic pplocation ppwhere ppthe ppretailer ppanticipates ppremarkably ppgood
ppprospects ppfor ppabove ppaverage pplevels ppof ppsales.
d. ppThe pptarget ppconsumers ppat ppwhom ppa ppline ppof ppmerchandise ppwill ppbe ppaimed.
e. ppThe ppintention ppto ppprice ppmerchandise ppat ppwhatever ppthe pp"going pprate"
pphappens ppto ppbe ppin ppa ppparticular pplocation. pp- ppAnswer ppb. ppA ppconcentrated
pparea ppwhere ppvendors ppare pppermanently pplocated ppand ppshow ppnew
ppmerchandise ppduring ppcertain pptimes ppof ppthe ppyear.
In pporder ppto ppbuild ppthe ppbrand ppequity ppof pptheir ppprivate-label ppmerchandise, ppa
ppretailer ppneeds ppto:
a. pplower ppthe ppprices ppto ppgive ppthe ppnew ppmerchandise ppa ppchance ppagainst ppthe
ppcompetition.
b. ppcreate ppa pphigh pplevel ppof ppbrand ppawareness.
c. pplimit ppthe ppamount ppof ppprivate-label ppmerchandise ppto ppmake ppit ppmore
ppmarketable.
d. pppartner ppwith ppmanufacturers ppto ppreduce ppdistribution ppcosts.
e. ppdevelop ppunfavorable ppassociations ppfor ppa ppcompetitor's ppprivate-labels. pp-
ppAnswer ppb. ppcreate ppa pphigh pplevel ppof ppbrand ppawareness.
Brand ppimage ppis:
a. ppa ppset ppof ppassociations ppthat ppare ppusually pporganized pparound ppsome
ppmeaningful ppthemes.
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