Learn About Retail Management

9 Questions | Total Attempts: 264

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Retail Management Quizzes & Trivia

Do you want to test your management knowledge? Let's play this retail management practice quiz and prove yourself!


Questions and Answers
  • 1. 
    This theory of retail evolution states that retail institutions pass through different phases from "low-status, low-profit margin" phase to "high-cost, high price vulenerablity phase"
    • A. 

      Dialectic Process Theory

    • B. 

      Retail Accordion Theory

    • C. 

      Wheel of Retailing

    • D. 

      Natural Selection

    • E. 

      None of the Above

  • 2. 
    A store based on contractual agreement between a manufacturer and a retailer is called a ............ store
    • A. 

      Chain

    • B. 

      Independent

    • C. 

      Department

    • D. 

      Convenience

    • E. 

      Franchise

  • 3. 
    An unplanned shopping cener in a city, which is generally bonunded by the junction of two major streets is called a
    • A. 

      Mall

    • B. 

      Secondary Business District

    • C. 

      Shopping Center

    • D. 

      Convenience Store

    • E. 

      None of the Above

  • 4. 
    What is the primary trading area for a store?
    • A. 

      It is the area nearest to the store, which contributes 50-80% of the stores customers

    • B. 

      The area is dispersed more widely and contributes 15-25% of the stores customers

    • C. 

      This area consists of out shoppers

    • D. 

      None of the Above

  • 5. 
    GMROI is
    • A. 

      Gross Margin Return On Investment

    • B. 

      Gross Margin Retail Of Inventory

    • C. 

      Gross Market Return On Investment

    • D. 

      Gross Margin Return On Inventory

    • E. 

      None of the Above

  • 6. 
    The number of different merchandising categories within a store or department is called
    • A. 

      Assortment

    • B. 

      Bredth

    • C. 

      Depth

    • D. 

      Categories

    • E. 

      None of the Above

  • 7. 
    The process by which a retailer attempts to offer the right quantity of the right merchandise in the right place at the right time while meeting the company’s financial goals is called
    • A. 

      Merchandise Management

    • B. 

      Assortment Planning

    • C. 

      Category Management

    • D. 

      Supply Chain Management

    • E. 

      Category Planning

  • 8. 
    The smallest unit for making inventory control decisions is called
    • A. 

      Department

    • B. 

      Classification

    • C. 

      Assortment

    • D. 

      Category

    • E. 

      SKU

  • 9. 
    Calculate the GMROI for a Christian Bookstore that has annual sales of $20,000 for T-Shirts, Gross Margin of 45%, and Average Inventory (at cost) of $75,000.
    • A. 

      14.67%

    • B. 

      8%

    • C. 

      12%

    • D. 

      10%

    • E. 

      29%