360+ Retail Management Solved MCQs

These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Business Administration (BBA) , Master of Commerce (M.com) , Bachelor of Management Studies (BMS) , Bachelor of Business Administration in Marketing (BBA Marketing) .

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151.	Independent retailers who use a central buying organization and joint promotional efforts are called a
A.	merchandising conglomerate
B.	corporate chain store
C.	retailer cooperative
D.	voluntary chain
Answer» C. retailer cooperative

152.	A retail firm owned by its customers in which members contribute money to open their own 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
Answer» D. consumer cooperative

153.	The oldest and most heavily trafficked city area is called
A.	regional shopping center
B.	prime location
C.	urban district
D.	Central business district
Answer» D. Central business district

154.	Giant retailers called _____ concentrate on one product category such as toys or home improvement
A.	Category killers
B.	Variety stores
C.	supercentres
D.	box stores
Answer» A. Category killers

155.	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
Answer» B. private label

156.	A_____ fee is the charge many supermarkets impose for accepting a new brand to cover the cost of listing and stocking it.
A.	inventory
B.	slotting
C.	initiation
D.	stocking
Answer» B. slotting

157.	Which of the following is not one of the four major decisions that must be made with regard 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?
Answer» D. How should stock be financed?

158.	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.
C.	Sales maximization is stress
Answer» C. Sales maximization is stress

159.	A retailer's commitment to a type of business and to a distinctive role in the marketplace is its:
A.	. objectives
B.	organizational mission
C.	retailing concept
D.	image
Answer» B. organizational mission

160.	Which form of organization is subject to double taxation?
A.	sole proprietorship
B.	partnership
C.	corporation
D.	franchise
Answer» C. corporation

161.	When retailers identify customer segments and develop unique strategies to meet the desires of these segments, they are using:
A.	mass merchandising
B.	niche retailing
C.	bifurcated retailing
D.	middle market retailing
Answer» B. niche retailing

162.	Those aspects of business that a retailer can directly affect, such as store hours and merchandise lines carried are referred to as:
A.	controllable variables
B.	demographic statistics
C.	lifestyle measures
D.	uncontrollable variables
Answer» A. controllable variables

163.	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
Answer» D. merchandise management and pricing

164.	A systematic procedure for analyzing the performance of a retailer is called:
A.	control
B.	feedback
C.	strategic planning
D.	retail audit
Answer» D. retail audit

165.	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
Answer» C. look for both positive and negative feedback

166.	Which of the following is a recommended strategy for retailers when consumers select the outlet first and the brand second?
A.	Appropriate pricing
B.	Brand availability advertising
C.	Brand image management
D.	Price special on brands
Answer» A. Appropriate pricing

167.	Which of the following types of retail businesses have unlimited liability?
A.	Partnership and sole trader
B.	Partnership and private company
C.	Private company and sole trader
D.	Private company and public company
Answer» A. Partnership and sole trader

168.	Any source of products or services for consumers is referred to as a _____.
A.	Retail outlet
B.	Contact point
C.	Transaction point
D.	Distribution outlet
Answer» A. Retail outlet

169.	The retailer is usually in an excellent position to
A.	Make the most profits in the channel
B.	Be the channel leader
C.	Gain feedback from consumers
D.	Co-ordinate the production strategy
Answer» C. Gain feedback from consumers

170.	Consumers acquiring product through mail, telephone, or computer orders is referred to as _____.
A.	Outsourcing
B.	Outlet shopping
C.	Non-traditional shopping
D.	In-home shopping
Answer» D. In-home shopping

171.	Which of the following is the major reason consumers give for shopping online?
A.	Want product delivered
B.	Unique merchandise
C.	Price
D.	Convenience
Answer» D. Convenience

172.	Which one of the following is NOT a form of direct marketing?
A.	catalogue retailing
B.	telemarketing
C.	personal selling
D.	direct mail
Answer» C. personal selling

173.	The major reason people give for not shopping on the Internet is _____.
A.	Lack of “touch”
B.	Security concerns
C.	Too difficult
D.	Unfamiliar merchants
Answer» B. Security concerns

174.	The difference between retail and cost is called:
A.	profit
B.	markdown
C.	income
D.	markup
Answer» D. markup

175.	Expenses that benefit the entire store are called:
A.	controllable
B.	direct
C.	indirect
D.	Margin results
Answer» C. indirect

360+ Retail Management Solved MCQs

Independent retailers who use a central buying organization and joint promotional efforts are called a

A retail firm owned by its customers in which members contribute money to open their own store, vote on its policies, elect a group to manage it, and receive dividends is called a

The oldest and most heavily trafficked city area is called

Giant retailers called _____ concentrate on one product category such as toys or home improvement

Retailers such as Benetton, The Body Shop, and Marks and Spencer carry mostly own- brand merchandise. These are called _____ brands

A_____ fee is the charge many supermarkets impose for accepting a new brand to cover the cost of listing and stocking it.

Which of the following is not one of the four major decisions that must be made with regard to market logistics?

Which statement is not a benefit of formulating a retail strategy?

A retailer's commitment to a type of business and to a distinctive role in the marketplace is its:

Which form of organization is subject to double taxation?

When retailers identify customer segments and develop unique strategies to meet the desires of these segments, they are using:

Those aspects of business that a retailer can directly affect, such as store hours and merchandise lines carried are referred to as:

Which is not considered one of the elements of "managing a business" in a retail strategy?

A systematic procedure for analyzing the performance of a retailer is called:

During each stage in the development of a retail strategy, retail managers should:

Which of the following is a recommended strategy for retailers when consumers select the outlet first and the brand second?

Which of the following types of retail businesses have unlimited liability?

Any source of products or services for consumers is referred to as a _____.

The retailer is usually in an excellent position to

Consumers acquiring product through mail, telephone, or computer orders is referred to as _____.

Which of the following is the major reason consumers give for shopping online?

Which one of the following is NOT a form of direct marketing?

The major reason people give for not shopping on the Internet is _____.

The difference between retail and cost is called:

Expenses that benefit the entire store are called:

Consumers who browse and/or purchase in more than one channel are known as _____.

In which of the following retailers are salespeople ready to assist in every phase of the locate-compare-select process?

The fastest growing segment of retailing is __________.

The most important retail marketing decision a retailer has to make is to __________.

__________ includes all of the activities involved in selling goods or services to those who buy for resale or business use.

A concept in retailing that helps explain the emergence of new retailers is called the _______________ hypothesis.

Merchandising and display are an important part of the marketing plan and should have a reasonable budget allocated, even for a retailer operating on a ..........

A retailer’s ______________ is the key to its ability to attract customers.

Which of the following is NOT an example of non-store retailing?

The word Retail is derived from the----- word

In retailing there is a direct interaction with-------

Retailing creates-------

Retailing is a marketing function which ----

Retailer is a person who sells the goods in a---------.

The main objective of the management is--------.

In retailing there is a direct interaction with-------.

Retailing creates-------.

---------activities performed by the retailers.

The term stakeholders which includes-------.

------represents how a retailer is perceived by consumers and others.

The functions of management start with-----.

"Management is what a manager does" given by.

Human resource management process consists of ------.

----- is the process of seeking customers towards shop.

------ gives the product as per the requirements of customers

176.	Consumers who browse and/or purchase in more than one channel are known as _____.
A.	cosmopolitan
B.	Multi-channel shoppers
C.	multi-taskers
D.	Market mavens
Answer» B. Multi-channel shoppers

177.	In which of the following retailers are salespeople ready to assist in every phase of the locate-compare-select process?
A.	self-service.
B.	self-selection.
C.	limited service.
D.	full service.
Answer» D. full service.

178.	The fastest growing segment of retailing is __________.
A.	nonstore retailing
B.	warehouse stores
C.	hypermarkets
D.	Category killers
Answer» A. nonstore retailing

179.	The most important retail marketing decision a retailer has to make is to __________.
A.	identify its target market
B.	choose the right service response it wants to support
C.	select the service mix
D.	Develop a nice store atmosphere
Answer» A. identify its target market

180.	__________ includes all of the activities involved in selling goods or services to those who buy for resale or business use.
A.	retailing
B.	wholesaling
C.	bartering
D.	Purchasing
Answer» B. wholesaling

181.	A concept in retailing that helps explain the emergence of new retailers is called the _______________ hypothesis.
A.	retail life cycle
B.	wheel-of-retailing
C.	service-assortment
D.	Product life cycle
Answer» B. wheel-of-retailing

182.	Merchandising and display are an important part of the marketing plan and should have a reasonable budget allocated, even for a retailer operating on a ..........
A.	corner.
B.	dime.
C.	limit.
D.	Shoestring.
Answer» D. Shoestring.

183.	A retailer’s ______________ is the key to its ability to attract customers.
A.	location.
B.	pricing system.
C.	promotion system.
D.	Store personnel.
Answer» A. location.

184.	Which of the following is NOT an example of non-store retailing?
A.	mail order.
B.	party plan
C.	department store
D.	Catalogue shop.
Answer» D. Catalogue shop.

185.	The word Retail is derived from the----- word
A.	latin
B.	french
C.	english
D.	none of these
Answer» B. french