McqMate
| 101. |
Which of the following items is required to develop a better financial plan? |
| A. | identify your target market. |
| B. | consider employee lay-offs. |
| C. | prioritize your needs. |
| D. | research other companies. |
| Answer» C. prioritize your needs. | |
| 102. |
Which of the following is an example of an external threat? |
| A. | decreased competition. |
| B. | new trade regulations. |
| C. | global sales potential. |
| D. | economies of scale. |
| Answer» B. new trade regulations. | |
| 103. |
Which of the following is an example of an internal strength? |
| A. | obsolete resources. |
| B. | changing tax structure. |
| C. | proven management. |
| D. | increased competition |
| Answer» C. proven management. | |
| 104. |
Which objective gives importance to productivity, technological leadership, employee relations, etc? |
| A. | long-term objective. |
| B. | short-term objective. |
| C. | medium term objective. |
| D. | annual objective. |
| Answer» A. long-term objective. | |
| 105. |
What bridges the gap between strategy formulation and implementation? |
| A. | strategic planning. |
| B. | strategic management. |
| C. | decision-making. |
| D. | organizing. |
| Answer» A. strategic planning. | |
| 106. |
What describes the market, product and technological area of a business? |
| A. | company\s vision. |
| B. | company\s mission. |
| C. | bumper-sticker strategy. |
| D. | strategic plan. |
| Answer» B. company\s mission. | |
| 107. |
How can a firm optimize its environmental opportunities? |
| A. | by assessing its market share . |
| B. | by assessing the competitiveness in the industry. |
| C. | by assessing the effectiveness of its sales distribution. |
| D. | by assessing its competitors position in the market. |
| Answer» D. by assessing its competitors position in the market. | |
| 108. |
Which of the following helps a manager identify the opportunities and threats in the competitive industrial environment? |
| A. | analyzing the competitive forces. |
| B. | market research. |
| C. | market analysis. |
| D. | sales analysis. |
| Answer» A. analyzing the competitive forces. | |
| 109. |
Which one of the following represents the best long-run opportunity in a firm's portfolio? |
| A. | cash cow. |
| B. | star. |
| C. | question mark. |
| D. | dog. |
| Answer» B. star. | |
| 110. |
In which of the following pricing approaches is pricing based on consumer demand? |
| A. | functional approach. |
| B. | business approach. |
| C. | market approach. |
| D. | innovative approach. |
| Answer» C. market approach. | |
| 111. |
A/an ---- helps people understand the behavior patterns that are expected of them in particular circumstances |
| A. | advisory policy. |
| B. | explicit policy. |
| C. | mandatory policy. |
| D. | implicit policy. |
| Answer» B. explicit policy. | |
| 112. |
Agricultural market set up by stae government to procure agricultural produce directly from farmers |
| A. | haats |
| B. | mandis |
| C. | kirana |
| D. | public distribution system |
| Answer» B. mandis | |
| 113. |
Consumer do their own picking, pay in cash and carry the merchandise away A. |
| A. | tomated vending |
| B. | super market |
| C. | the cash and carry |
| D. | direct response retail |
| Answer» C. the cash and carry | |
| 114. |
What are the major determinants of employee motivation? |
| A. | reward and coercive power. |
| B. | new technologies. |
| C. | personal power and future growth prospects. |
| D. | information and connection power. |
| Answer» A. reward and coercive power. | |
| 115. |
At what stage is the threat from competitors at its peak in an industry? |
| A. | growth stage. |
| B. | embryonic stage. |
| C. | mature stage. |
| D. | shakeout stage |
| Answer» A. growth stage. | |
| 116. |
---- forms the basis for the allocation of corporate resources. |
| A. | financial evaluation. |
| B. | organizational growth. |
| C. | organizational structure. |
| D. | organizational culture. |
| Answer» C. organizational structure. | |
| 117. |
---- is often critical for the proper accomplishment of a divestiture and can provide comfort to the employee as well as to potential buyers. |
| A. | a flexible management. |
| B. | a stable management. |
| C. | an active management |
| D. | none of the above. |
| Answer» B. a stable management. | |
| 118. |
Identifying the customers is the ,............... step of retail business |
| A. | second |
| B. | third |
| C. | first |
| D. | last |
| Answer» A. second | |
| 119. |
......Is very important for retail store |
| A. | product |
| B. | site |
| C. | transportation |
| D. | machine |
| Answer» B. site | |
| 120. |
The best grocery store must be target ing....... |
| A. | high income group |
| B. | low income group |
| C. | all income group s |
| D. | medium income group |
| Answer» C. all income group s | |
| 121. |
interior and ....is very important for retail store |
| A. | product |
| B. | site |
| C. | transportation |
| D. | hygiene |
| Answer» D. hygiene | |
| 122. |
A proper layout of a store increases......... |
| A. | product |
| B. | efficiency |
| C. | transportation |
| D. | machine |
| Answer» B. efficiency | |
| 123. |
Best service of a retail store create a |
| A. | image |
| B. | task |
| C. | workforce |
| D. | machine |
| Answer» A. image | |
| 124. |
Maintaining standard of a Store can attract.......... |
| A. | customers |
| B. | sellers |
| C. | mediators |
| D. | none of these |
| Answer» A. customers | |
| 125. |
every store target different....... |
| A. | price |
| B. | segment |
| C. | promotion |
| D. | brand |
| Answer» B. segment | |
| 126. |
..... attractions for customers in a retail store |
| A. | fixtures |
| B. | floor |
| C. | transportation |
| D. | salesforce |
| Answer» A. fixtures | |
| 127. |
A retailer select a site such as,...... |
| A. | he should get return on investment |
| B. | run business successfully |
| C. | maximum sale |
| D. | all the above |
| Answer» D. all the above | |
| 128. |
Purchasing products occasionally is,........ Factor |
| A. | geography |
| B. | demography |
| C. | behavioural |
| D. | none of these |
| Answer» C. behavioural | |
| 129. |
Income is .....,factor of segmentation |
| A. | geography |
| B. | demography |
| C. | behavioural |
| D. | none of these |
| Answer» B. demography | |
| 130. |
Segmentation reduces unecessary........ of the organization |
| A. | expenses |
| B. | efforts |
| C. | production |
| D. | all the above |
| Answer» A. expenses | |
| 131. |
Which element identifies the strategic factors that determine the future of a firm? |
| A. | evaluation and control. |
| B. | environmental scanning. |
| C. | strategy formulation. |
| D. | strategy implementation. |
| Answer» B. environmental scanning. | |
| 132. |
. In which of the following pricing approaches is pricing based on consumer demand? |
| A. | functional approach. |
| B. | business approach. |
| C. | market approach. |
| D. | innovative approach. |
| Answer» C. market approach. | |
| 133. |
. Consumer do their own picking, pay in cash and carry the merchandise away A. |
| A. | tomated vending |
| B. | super market |
| C. | the cash and carry |
| D. | direct response retail |
| Answer» C. the cash and carry | |
| 134. |
At what stage is the threat from competitors at its peak in an industry? |
| A. | growth stage. |
| B. | embryonic stage. |
| C. | mature stage. |
| D. | shakeout stage |
| Answer» A. growth stage. | |
| 135. |
The word “retail” has been derived from which word? |
| A. | Latine |
| B. | French |
| C. | Greek |
| D. | Persian |
| Answer» B. French | |
| 136. |
Who is the last link in the chain connecting the producer and customer ? |
| A. | wholesaler |
| B. | agent |
| C. | retailer |
| D. | storekeeper |
| Answer» C. retailer | |
| 137. |
Internet marketing and telemarketing are the recent trends in ……….. business |
| A. | retail |
| B. | wholesale |
| C. | conventional |
| D. | manufacturing |
| Answer» A. retail | |
| 138. |
MRP stands for. |
| A. | minimum retail price |
| B. | maximum retail price |
| C. | minimum rate of profit |
| D. | maximum rate of profit |
| Answer» B. maximum retail price | |
| 139. |
Multiple shops are also known as – |
| A. | self service stores |
| B. | chain stores |
| C. | shopping by post |
| D. | departmental stores |
| Answer» B. chain stores | |
| 140. |
Door to door selling is carried out by |
| A. | hawkers and peddlers |
| B. | cheap jacks |
| C. | second shop |
| D. | retailers |
| Answer» A. hawkers and peddlers | |
| 141. |
There is no shop assistants in a |
| A. | super bazaar |
| B. | departmental store |
| C. | multiple shop |
| D. | second shop |
| Answer» A. super bazaar | |
| 142. |
No middle men is involved in – |
| A. | wholesale trade |
| B. | retail trade |
| C. | direct marketing |
| D. | indirect marketing |
| Answer» C. direct marketing | |
| 143. |
Shopping malls, super markets and hypermarkets come under which type of marketing? |
| A. | wholesale |
| B. | retail |
| C. | direct marketing |
| D. | agent service |
| Answer» B. retail | |
| 144. |
Which of the following statement about retail marketing is true |
| A. | sells products to other businesses |
| B. | sells products to a company that resells them |
| C. | sells products to final consumers |
| D. | sells products for one's own use |
| Answer» C. sells products to final consumers | |
| 145. |
A multi channel retailer sells merchandise |
| A. | over telephone |
| B. | through retail stores |
| C. | over internet |
| D. | over more than one channel; |
| Answer» D. over more than one channel; | |
| 146. |
E-retailing refers to |
| A. | sales of electronic items |
| B. | catalog shopping |
| C. | computerized store |
| D. | retailing and shopping through internet |
| Answer» D. retailing and shopping through internet | |
| 147. |
What is the full form of VAT? |
| A. | value added tax |
| B. | very important additional tax |
| C. | value additional tax |
| D. | value added theory |
| Answer» A. value added tax | |
| 148. |
Mail order retailing is the same as: |
| A. | Direct selling |
| B. | In Home retailing |
| C. | E-tailing |
| D. | Catalog retailing |
| Answer» D. Catalog retailing | |
| 149. |
All of the following are types of non store retailing, except |
| A. | Catalog retailing |
| B. | Vending Machines |
| C. | Chain store |
| D. | Direct Mail |
| Answer» C. Chain store | |
| 150. |
Person to person interaction between a retailer and a prospective customer is: |
| A. | Direct marketing |
| B. | Automatic selling |
| C. | Direct selling |
| D. | Buying service |
| Answer» C. Direct selling | |
| 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 | |
| 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 | |
| 186. |
In retailing there is a direct interaction with------- |
| A. | producer |
| B. | customer |
| C. | wholesaler |
| D. | all of these |
| Answer» D. all of these | |
| 187. |
Retailing creates------- |
| A. | time utility |
| B. | place utility |
| C. | ownership utility |
| D. | all of these |
| Answer» D. all of these | |
| 188. |
Retailing is a marketing function which ---- |
| A. | sells products to other business |
| B. | sells products to a company that resells em |
| C. | sells products to final consumers |
| D. | sells products for one’s own use |
| Answer» C. sells products to final consumers | |
| 189. |
Retailer is a person who sells the goods in a---------. |
| A. | large quantities. |
| B. | small quantities. |
| C. | both a & b. |
| D. | none of these. |
| Answer» B. small quantities. | |
| 190. |
The main objective of the management is--------. |
| A. | profitability. |
| B. | sales growth. |
| C. | return on investment |
| D. | all of these. |
| Answer» D. all of these. | |
| 191. |
In retailing there is a direct interaction with-------. |
| A. | producer. |
| B. | customer. |
| C. | wholesaler. |
| D. | all of these. |
| Answer» D. all of these. | |
| 192. |
Retailing creates-------. |
| A. | time utility. |
| B. | place utility. |
| C. | ownership utility. |
| D. | all of these. |
| Answer» D. all of these. | |
| 193. |
---------activities performed by the retailers. |
| A. | assortment of offerings. |
| B. | holding stock. |
| C. | extending services. |
| D. | all of these. |
| Answer» D. all of these. | |
| 194. |
The term stakeholders which includes-------. |
| A. | stock holders. |
| B. | consumers. |
| C. | suppliers. |
| D. | all the above. |
| Answer» D. all the above. | |
| 195. |
------represents how a retailer is perceived by consumers and others. |
| A. | image. |
| B. | sales. |
| C. | profit. |
| D. | none of these. |
| Answer» A. image. | |
| 196. |
The functions of management start with-----. |
| A. | buying. |
| B. | planning. |
| C. | organizing. |
| D. | supervising. |
| Answer» B. planning. | |
| 197. |
"Management is what a manager does" given by. |
| A. | Henry fayol. |
| B. | F.W.Taylor. |
| C. | Dinkar Pagare. |
| D. | none of these. |
| Answer» C. Dinkar Pagare. | |
| 198. |
Human resource management process consists of ------. |
| A. | recruitment. |
| B. | selection. |
| C. | training. |
| D. | all of these. |
| Answer» D. all of these. | |
| 199. |
----- is the process of seeking customers towards shop. |
| A. | Selection. |
| B. | Advertisement. |
| C. | Compensation. |
| D. | Recruitment. |
| Answer» B. Advertisement. | |
| 200. |
------ gives the product as per the requirements of customers |
| A. | Human resource planning. |
| B. | Job descriptions. |
| C. | Job analysis. |
| D. | Mall |
| Answer» A. Human resource planning. | |
Done Reading?