Retail Management Quiz With Answers

16 Questions | By Vijaynegi | Updated: Mar 22, 2022 | Attempts: 16453

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Retail Management Quiz With Answers - Quiz

How much information do you have about retail management? Let's test your knowledge of retail management with this interactive quiz. So, get prepared to answer the questions. Wishing you the best of luck!

Questions and Answers

1.

A trading entity such as a marketing tool or method, a product or group of products, or simply a trade brand is called ____________.
- A.
  
  Franchise
- B.
  
  Franchisee
- C.
  
  Franchisor
2.

The party that established (manages) the franchise is known as ___________.
- A.
  
  Franchisor
- B.
  
  Franchisee
- C.
  
  Franchise
3.

What do we call a large box in which products for sale are kept on the shop floor?
- A.
  
  Bin/Display Bin
- B.
  
  Bricks and mortar store
- C.
  
  Buying Power
- D.
  
  Catchment
4.

Name the shop that is in a building as opposed to an internet shopping site, a street market stall, party sales, van sales or door-to-door sales.
- A.
  
  Bin/Display Bin
- B.
  
  Bricks and mortar store
- C.
  
  Buying Power
- D.
  
  Catchment
5.

The ability to negotiate favorable terms due to the proposition of high volume purchases? is called ___________.
- A.
  
  Bin/Display Bin
- B.
  
  Bricks and mortar store
- C.
  
  Buying Power
- D.
  
  Catchment
6.

The area from where the majority of a shop's customers are located is known as _____________.
- A.
  
  Bin/Display Bin
- B.
  
  Bricks and mortar store
- C.
  
  Buying Power
- D.
  
  Catchment
7.

The planning and execution of product distribution is called ______________.
- A.
  
  Profit
- B.
  
  One-stop-shop
- C.
  
  Logistics
- D.
  
  Merchandising
8.

You assist a customer in the computer department and see a potential for a big sale; however, don't want to overwhelm your customer or lose his trust. How should you proceed?
- A.
  
  Determine his immediate and long-term needs, create a purchase plan, and supply him with your contact information as well as contact information for the computer help desk.
- B.
  
  Recommend your most simple model for ease in spite of the fact it is your worst performing model.
- C.
  
  Suggest he enroll in a computer class at the local senior center before making a purchase.
- D.
  
  Talk clearly and slowly, explaining the function of each component of your most expensive model.
9.

When the customer gives a buying signal, what should the sales associate do?
- A.
  
  Determine if the customer needs anything else.
- B.
  
  Turn the customer over to a more seasoned sales associate.
- C.
  
  Wait to see if the customer wants anything else.
- D.
  
  Close the sale before the customer changes his mind.
10.

Which of the following is an indicator that the customer is ready for a sale?
- A.
  
  The customer decides to make a call to check on shirt sizes with her husband.
- B.
  
  The customer approaches the counter and reaches for her purse.
- C.
  
  The customer continues searching through the tie rack for a complimentary tie.
- D.
  
  The customer asks the sales associate for the price of a shirt.
11.

When discussing with an associate how to handle an upset and dissatisfied customer, it is BEST to:
- A.
  
  Coach the associate to get a manager as quickly as possible.
- B.
  
  Coach the associate to diffuse the customer's anger first and find out why she is upset.
- C.
  
  Coach the associate to allow the customer to vent her anger.
- D.
  
  Coach the associate to inform the customer to stop being angry.
12.

Successful retail organizations are recognizing that customer loyalty is a key factor in their success. What does customer loyalty mean to a retail business?
- A.
  
  Loyal customers spend more time when making a purchase and that increases their value to the retailer.
- B.
  
  Customer loyalty decreases the amount of advertising a retailer must do to be competitive.
- C.
  
  Customer loyalty increases employee satisfaction and loyalty.
- D.
  
  Repeat business from loyal customer's increases a retailer's sales and profit because shoppers buy more often, recommend the retailer to others, and pay more for goods and services.
13.

As a Retail Manager, you influence the shopping experience by leading by example. Which of the following is NOT an example of how to lead Associates?
- A.
  
  Keep Associates informed of all your concerns about the store's sales trends.
- B.
  
  Be energetic and enthusiastic with others.
- C.
  
  Demonstrate a genuine welcoming attitude toward every customer every day, and be passionate about customer service.
- D.
  
  Know the service standards for your store and meet them consistently.
14.

Which of the following is NOT a primary area of accountability for a Retail Manager?
- A.
  
  Research and long-term planning of the merchandise that will be sold in the store.
- B.
  
  Selling and service standards to ensure customers are satisfied.
- C.
  
  Ensuring that customers receive the right products at the right time and that they are displayed appropriately.
- D.
  
  Training employees to prepare them with product knowledge, selling and service skills.
- E.
  
  Making sure the sales floor is recovered, damaged goods are returned, and safety and loss prevention standards are in place.
15.

Listed below are several factors that affect the success of a retail business. Which of the following selections best describes internal factors, which a Retail Manager can influence?
- A.
  
  Product availability, shopping atmosphere, customer service
- B.
  
  Pricing, product placement, customers.
- C.
  
  Customers, branding, product availability.
- D.
  
  Advertisement, Customers, Place & Price
16.

The party that sells goods and services within the framework of the franchise is known as ___________.
- A.
  
  Franchisee
- B.
  
  Franchisor
- C.
  
  Franchise