Top 350+ Solved Retail Management MCQ Questions Answer
Q. Independent retailers who use a central buying organization and joint promotional effortsare called a
a. merchandising conglomerate
b. corporate chain store
c. retailer cooperative
d. voluntary chain
Q. A retail firm owned by its customers in which members contribute money to open theirown store, vote on its policies, elect a group to manage it, and receive dividends is called a
a. corporate chain store.
b. merchandising conglomerate
c. voluntary chain
d. consumer cooperative
Q. The oldest and most heavily trafficked city area is called
a. regional shopping center
b. prime location
c. urban district
d. Central business district
Q. Giant retailers called _____ concentrate on one product category such as toys or homeimprovement
a. Category killers
b. Variety stores
c. supercentres
d. box stores
Q. Retailers such as Benetton, The Body Shop, and Marks and Spencer carry mostly own- brand merchandise. These are called _____ brands
a. creative label
b. private label
c. house
d. retail label
Q. A_____ fee is the charge many supermarkets impose for accepting a new brand to coverthe cost of listing and stocking it.
a. inventory
b. slotting
c. initiation
d. stocking
Q. Which of the following is not one of the four major decisions that must be made withregard to market logistics?
a. How should orders be handled?
b. Where should stock be located?
c. How much stock should be held?
d. How should stock be financed?
Q. Which statement is not a benefit of formulating a retail strategy?
a. A retailer is forced to study the legal, economic, and competitive market
b. A retailer is shown how it can differentiate itself from competitors.
Q. A retailer's commitment to a type of business and to a distinctive role in themarketplace is its:
a. . objectives
b. organizational mission
c. retailing concept
d. image
Q. Which form of organization is subject to double taxation?
a. sole proprietorship
b. partnership
c. corporation
d. franchise
Q. When retailers identify customer segments and develop unique strategies to meet thedesires of these segments, they are using:
a. mass merchandising
b. niche retailing
c. bifurcated retailing
d. middle market retailing
Q. Those aspects of business that a retailer can directly affect, such as store hours andmerchandise lines carried are referred to as:
a. controllable variables
b. demographic statistics
c. lifestyle measures
d. uncontrollable variables
Q. Which is not considered one of the elements of "managing a business" in a retail strategy?
a. the retail organization
b. human resource management
c. operations management
d. merchandise management and pricing
Q. A systematic procedure for analyzing the performance of a retailer is called:
a. control
b. feedback
c. strategic planning
d. retail audit
Q. During each stage in the development of a retail strategy, retail managers should:
a. consider only controllable variables
b. refrain from "fine tuning" the strategy
c. look for both positive and negative feedback
d. consider no problems with the government to be a form of negative feedback