360+ Retail Management Solved MCQs

201.

Supermarket is a kind of ……..

A. wholesale
B. distributor
C. dealer
D. retail store
Answer» D. retail store
202.

Attracting potential employees is more difficult in case of ---------.

A. internal recruitment.
B. external of recruitment.
C. both a & b
D. none of these.
Answer» B. external of recruitment.
203.

----- is the next step after recruiting the retail personnel.

A. Supervision.
B. Compensation.
C. Training.
D. Selection.
Answer» D. Selection.
204.

------ test measure a persons capacity or potential capability to learn and perform a job.

A. Aptitude test.
B. Proficiency test.
C. Interest test.
D. Personality test.
Answer» A. Aptitude test.
205.

A traditional format that sell 20-80 percent of groceries and other consumable product at discounted prices

A. Dollar Store
B. Discounted stores
C. Chain store
D. off price store
Answer» A. Dollar Store
206.

------ component allow the retailer to offer the employees safety and security

A. Fixed component
B. Fringe benefit component
C. Variable component
D. All of the above.
Answer» B. Fringe benefit component
207.

------- is the manner of providing a job environment that encourages employee's accomplishment.

A. Compensation
B. Supervision.
C. Training
D. None of the above.
Answer» B. Supervision.
208.

Store security relates to ----.

A. personal security
B. merchandise security.
C. both a & b.
D. none of these.
Answer» C. both a & b.
209.

Form of payment which a retailer may accept is ----.

A. cash only.
B. cash &credit cards .
C. cash &debit cards.
D. all of these
Answer» D. all of these
210.

Many retailers have improved their operation productivity through -----.

A. computerization.
B. outsourcing.
C. both a & b.
D. none of these.
Answer» A. computerization.
211.

The computerized check out is used by -----.

A. large retailers.
B. small retailers.
C. multi retailers
D. all of these.
Answer» A. large retailers.
212.

With the help of-------a retailer pays an outsider party to undertake one or more of its operating functions

A. outsourcing.
B. credit management
C. computerization.
D. none of these.
Answer» A. outsourcing.
213.

------ helps the retailers to face the crisis situations.

A. Risk management.
B. Credit management.
C. Financial management.
D. All of these
Answer» A. Risk management.
214.

------ is a key task for both large &small retailers.

A. Risk management.
B. Crisis management.
C. Inventory management
D. All of these.
Answer» D. All of these.
215.

----- helps the retailers to complete the tasks within the short period of time.

A. Computerization.
B. Outsourcing.
C. Both 1 & 2.
D. None of these.
Answer» A. Computerization.
216.

---------is a warning to potential thieves and muggers.

A. Insurance.
B. Security guards.
C. Outsourcing.
D. Credit management .
Answer» B. Security guards.
217.

Insurance against--------is more important due to government rules.

A. environmental risk.
B. production risk.
C. both 1 & 2
D. none of these
Answer» A. environmental risk.
218.

The factor leading to the growth of retailing is ----.

A. changing consumer trends
B. technology.
C. demographics.
D. all the above.
Answer» D. all the above.
219.

Consumer buying process in retailing involves ----.

A. need recognition.
B. search for information.
C. evaluation of retailers.
D. all the above.
Answer» D. all the above.
220.

Atmosphere in retailing refers to ----.

A. the weather outside a store.
B. The ambience, music, color scent in a store.
C. assortment of products in the store.
D. display of items in a store.
Answer» B. The ambience, music, color scent in a store.
221.

E-tailing refers to ----.

A. sale of electronic items in a store.
B. catalog shopping.
C. music store.
D. retailing shopping using the inter.
Answer» D. retailing shopping using the inter.
222.

A multi channel retailer sells merchandise ----.

A. over the telephone
B. through personal selling and retail store only.
C. over the internet .
D. through more than one channel.
Answer» D. through more than one channel.
223.

Retailing is a marketing function which ----.

A. sells products to other business.
B. sells products to a company that resells them.
C. sells products to final consumers.
D. sells products for ones own use
Answer» C. sells products to final consumers.
224.

The wheel of retailing explains the emergence of new retailing forms by ----.

A. retailers cycle through peaks of high cost price and troughs of low cost price.
B. whole sellers see retailing opportunity, enter retailing, then turn to wholesaling again.
C. new retailers emerge, grow, mature and decline.
D. low margin, low price retailers enter to compete with retailers who are high margin and high price.
Answer» D. low margin, low price retailers enter to compete with retailers who are high margin and high price.
225.

All of the following are possible types of service that a retailer can offer except ----.

A. self service.
B. self selection.
C. limited service.
D. all of the above.
Answer» C. limited service.
226.

The correct statement about chain stores is ----.

A. they offer economic of scale in buying.
B. they can hire good managers.
C. they integrate wholesaling and retailing function.
D. they centralize function.
Answer» D. they centralize function.
227.

Which of the following objectives is concerned with strategic marketing planning?

A. Day to day performance and results.
B. Over-all long term organizational growth.
C. Identifying the strengths and weaknesses of marketing department
D. None of the above.
Answer» B. Over-all long term organizational growth.
228.

Which sources of advantage will be helpful for a firm to achieve positional advantage over its competitors?

A. Superior skills.
B. Superior resources.
C. Superior controls.
D. All of the above a, b and c.
Answer» D. All of the above a, b and c.
229.

What are the elements that a mission statement of an organization should include?

A. Sets guidelines for business operations
B. Identifies the reasons for existence of a company and its responsibilities to the stakeholders
C. Identifies the firms customers and their needs and marches them with products and services.
D. All of the above 1, 2 and c.
Answer» D. All of the above 1, 2 and c.
230.

The term which is used to identify the major areas of business of a diversified organization is.

A. Business area.
B. Business segment, group or diversion
C. Business scope.
D. Diversified business.
Answer» B. Business segment, group or diversion
231.

Business composition is the term used while framing the following strategies. What are they?

A. Corporate strategy.
B. Marketing strategy.
C. Business strategy.
D. Both 1 and b.
Answer» D. Both 1 and b.
232.

Which of the following is not the characteristics of a strategic business unit?

A. It serves a homogenous set of markets with a limited number of related technologies
B. It serves a unique set of products.
C. It owns responsibility for its own profitability.
D. None of the above.
Answer» D. None of the above.
233.

According to GE screening grid model, which strategy should a company follow when it has high industry attractiveness and low business competitive position.

A. Invest/growth
B. Selective investment /maintain position.
C. Harvest/divest
D. None of the above.
Answer» A. Invest/growth
234.

Which of the following will act as a corner stone in maintaining the competitiveness of company

A. Market focus.
B. Defining capabilities.
C. Relationships and organizational change.
D. None of the above.
Answer» A. Market focus.
235.

Which analysis compares the strengths and weaknesses of a firm against the opportunities and threats in the external environment.

A. Environmental analysis.
B. Business analysis.
C. SWOT analysis.
D. None of the above.
Answer» C. SWOT analysis.
236.

Which of the following is not included in the list of macro environmental variables.

A. Prevailing economic conditions and political manifestors.
B. Changes in legislation and emerging new technologies.
C. Financial conditions and culture.
D. None of the above.
Answer» D. None of the above.
237.

What is the term used if management wants to audit the key management functions like sales force, advertising or pricing?

A. Vertical audit
B. Horizontal audit.
C. External audit.
D. None of the above.
Answer» A. Vertical audit
238.

The best way for a retailer to differentiate itself in the eyes of the consumer form the competitions is to.

A. increase advertising of sale items.
B. offer the lowest prices in town.
C. always be well stocked with the basic items that customers would expect to find in your store.
D. not sell any of the brand names the competition is selling.
Answer» C. always be well stocked with the basic items that customers would expect to find in your store.
239.

The boomerang effect is a relatively new phenomenon that describes

A. the recent trend for firms to seek bankrupts protection.
B. the way styles from years ago come back as today's most popular styles.
C. the recent trend of children returning to live with their parents after having already moved out.
D. the recent trend of having most companies report losses for the current quarter .
Answer» C. the recent trend of children returning to live with their parents after having already moved out.
240.

Discretionary income is.

A. all personal income after taxes and retirement savings.
B. all personal income after savings
C. all personal income after taxes.
D. personal income after taxes minus the money needed for necessities.
Answer» D. personal income after taxes minus the money needed for necessities.
241.

The final stage of the consumer shopping/purchase model around which all other stages revolves is the.

A. buy decision stage.
B. active information gathering stage.
C. purchase stage.
D. post-purchase evaluation stage.
Answer» D. post-purchase evaluation stage.
242.

What type of competitive structure are most retail firms involved in?

A. horizontal competition.
B. monopolistic competition.
C. vertical competition.
D. pure competition.
Answer» B. monopolistic competition.
243.

Which of the following marketing functions is one the retailer could not perform?

A. selling.
B. sorting.
C. location analysis.
D. buying.
Answer» C. location analysis.
244.

Facilitating institutions may best be described as specialists that.

A. take title but not possession of the merchandise.
B. take title to the merchandise in order to facilitate the transaction
C. manage the channel so as to increase over-all efficiency marketing functions
D. perform certain marketing functions, in which they have an expertise, for other channel members.
Answer» D. perform certain marketing functions, in which they have an expertise, for other channel members.
245.

Which one of the following factors is not found on a six month merchandise budget?

A. planned gross margin.
B. current liabilities.
C. planned sales percentage
D. planned purchases at retail.
Answer» B. current liabilities.
246.

The --- provides the retailer with a picture of the organization's profit and loss situation

A. expense report.
B. index of inventory valuation.
C. statement of cash flow.
D. income statement.
Answer» D. income statement.
247.

What word best describes the relationship between a retailer's pricing decisions and the merchandise, location, promotion, credit, services, image and legal decisions that retailers must make?

A. independent.
B. separate.
C. interactive.
D. competitive.
Answer» C. interactive.
248.

If a retailer is offering the same products and quantities to different customers at different prices, the retailer has what kind of pricing policy?

A. two-price
B. customary.
C. flexible.
D. leader.
Answer» C. flexible.
249.

Which of the following areas should not be taken into consideration when formulating a retailer's promotional strategy?

A. the retailers credit customers.
B. the price level of the merchandise.
C. merchandise inventory levels.
D. the retailer's net worth.
Answer» D. the retailer's net worth.
250.

The two objectives of institutional advertising include:.

A. creating a positive store image and public service promotion
B. publicity and sales promotions.
C. advertising a sale and generating store
D. none
Answer» A. creating a positive store image and public service promotion
251.

Which of the following should not be part of the campus shoppe's advertising campaign's objectives. The campus shoppe desires to increase.

A. awareness of its two locations
B. sales among incoming freshmen.
C. sales to 40 percent.
D. All the above belong in the retailer's advertising objectives
Answer» D. All the above belong in the retailer's advertising objectives
252.

Consumer premiums are considered to be a form of.

A. joint-sponsored sales promotion.
B. publicity that utilizes OPM.
C. advertising.
D. sole-sponsored sales promotion.
Answer» D. sole-sponsored sales promotion.
253.

A transient customer is a consumer who visits a retailer.

A. and finds the item desired in a matter of minutes
B. only when his or her regular retailer is closed.
C. that does not meet his or her customer service expectations.
D. while on vacation
Answer» C. that does not meet his or her customer service expectations.
254.

Merchandise availability is an example of a.

A. cost of sales
B. pretransaction service.
C. operating cost.
D. transaction service.
Answer» D. transaction service.
255.

Which of the following is not a factor in determining the service level to offer

A. income of target market.
B. price image of the retailer.
C. services offered by the competition
D. firm's management structure
Answer» D. firm's management structure
256.

Which of the following is not a factors is not one of the elements that need to be considered when designing a sales job?

A. feedback from supervisors.
B. the number of complaints a salesperson should have to handle.
C. the amount of variety involved
D. the appropriate degree of autonomous.
Answer» B. the number of complaints a salesperson should have to handle.
257.

Which of the following is not part of a visual communications program

A. Store name and logo.
B. institutional signage.
C. lifestyles graphics.
D. television advertising
Answer» D. television advertising
258.

In which of the following behavioral models there will be no product differentiation and brands as a factor plays very little role in the purchase preferences.

A. Complex buying behavior.
B. Variety seeking behavior.
C. Dissonance reducing behavior.
D. Habitual buying behavior
Answer» D. Habitual buying behavior
259.

A set of basic values, perceptions, wants and behavior learnt by a member of society from the family and other important constitution is called.

A. Social learning.
B. Sub-culture.
C. Culture.
D. Social development.
Answer» C. Culture.
260.

Which of the following factors include forces like small groups, family, social roles and status that will have an influence on buyer's behavior?

A. Cultural factors.
B. Psychological factors.
C. Personal factors.
D. Social factors
Answer» D. Social factors
261.

Which of the following psychological factors drive a person to satisfy his need and wants.

A. Motivation.
B. Perception.
C. Learning.
D. Beliefs and attitudes.
Answer» A. Motivation.
262.

Which of the following buying instruments does not found in consumer buying?

A. Requests for quotations.
B. Proposals.
C. Purchase contracts.
D. None of the above
Answer» D. None of the above
263.

Which of the following factors influence the organizational buying decision process?

A. Buyers objectives.
B. Purchasing policies and resources
C. Size and composition or buyers.
D. All of the above.
Answer» D. All of the above.
264.

Which method of organizational buying is suitable for he second-hand used vehicles, buildings etc, that have unique characteristics, but vary depending on their condition and usage.

A. Inspection.
B. Description.
C. Sampling.
D. Negotiation.
Answer» A. Inspection.
265.

When making 'purchasing decisions', the chief considerations involved in the organizational buying are.

A. Product quality.
B. Price.
C. Service.
D. All the above.
Answer» D. All the above.
266.

Which of the following do not include while in the learning process of a market- oriented organization.

A. Open-minded inquiry.
B. Synergistic information distribution.
C. Mutually informed interpretation and accessible memory.
D. None of the above.
Answer» D. None of the above.
267.

Management information system MIS supplies information, which include data from both internal and external sources is useful for .

A. Order processing.
B. Invoicing.
C. customer analysis and product performance.
D. all of the above.
Answer» D. all of the above.
268.

Marketing information system gathers information from internal sources like marketing intelligence and marketing research to help the manager in.

A. Assessing the information needs.
B. Developing the needed information.
C. Distributing the information.
D. All of the above
Answer» D. All of the above
269.

Which level of organization uses management information systems data in its decision making?

A. Lower level.
B. Middle level.
C. Top level.
D. All of the above.
Answer» D. All of the above.
270.

Which system is useful in coordinating data systems, tools and techniques with supporting software and hardware that enable managers to take appropriate marketing decisions.

A. Sales decision support systems.
B. Marketing decision support systems.
C. Standardized information systems.
D. None of the above
Answer» B. Marketing decision support systems.
271.

Identify the correct sequence of the following marketing approaches in order of their existence.

A. Product-variety marketing; Mass marketing and Target marketing.
B. Target marketing; product, variety marketing and mass marketing.
C. Mass marketing; Product-variety marketing.
D. Mass marketing; Target marketing and product variety marketing
Answer» C. Mass marketing; Product-variety marketing.
272.

If a seller produces two or more products that have different features, styles, quality, sizes, etc it is called .

A. Mass marketing.
B. Target marketing.
C. Individual marketing.
D. Product-variety marketing.
Answer» D. Product-variety marketing.
273.

What is the term used if a market is divided into distinct groups of buyers who might require separate products or marketing mixes.

A. Market targeting.
B. Market positioning.
C. Market segmentation
D. Market coordination.
Answer» C. Market segmentation
274.

Market positioning is a combination of marketing actions that management takes, to meet the needs and wants of each target market. It includes.

A. Understanding consumer perceptions.
B. Position products in the mind of consumer.
C. Design appropriate marketing mix.
D. All of the above.
Answer» D. All of the above.
275.

Which type of segmentation is commonly used for climate because of its broad impact on consumer behavior and product needs.

A. Geographical segmentation.
B. Demographic segmentation.
C. Geo-demographic segmentation.
D. Geographic segmentation.
Answer» A. Geographical segmentation.
276.

'Life style', 'Westside' and 'Shoppers stop' have located their departmental shops in the areas frequently visited by upper income people is an example of .

A. Psycho graphic segmentation.
B. Geo-demographic segmentation.
C. Demographic segmentation.
D. Geographic segmentation.
Answer» B. Geo-demographic segmentation.
277.

Which of the demographic variables is not used by marketers for demographic segmentation?

A. Family life cycle.
B. Income and occupation.
C. Gender.
D. Poverty.
Answer» D. Poverty.
278.

Which type of segmentation, classified consumers according to relevant needs and buying behavior, regardless of their countries and culture.

A. Multi-attribute segmentation.
B. Inter-market segmentation.
C. Demographic segmentation
D. Psychographic segmentation.
Answer» D. Psychographic segmentation.
279.

Before a company decides to target a particular segment, which important factors are to be examined against organizations's objectives and resources?

A. Market size.
B. Growth rate.
C. Structural attractiveness.
D. All of the above.
Answer» D. All of the above.
280.

If an organization targets to market a particular product to a variety of segments in order to build a strong reputation in that product area is called.

A. Product specialization
B. Market specialization.
C. Selective specialization.
D. Single-segment concentration.
Answer» A. Product specialization
281.

A positioning strategy should include the following strategies except.

A. Product strategy.
B. Personnel strategy.
C. Promotion strategy.
D. Advertising and sales promotion strategy.
Answer» B. Personnel strategy.
282.

Which of the following relationship strategies result into forming of a new organization.

A. Strategic alliance.
B. Prtnership.
C. Joint venture.
D. None of the above.
Answer» C. Joint venture.
283.

Which type of organization consists of a small workforce, relying on independent suppliers who are located at several parts of the world with a sophisticated linked. information system.

A. Trading company.
B. Network corporation
C. International organization.
D. Global corporation.
Answer» B. Network corporation
284.

Hindustan Motors (HM. alliance with Mitsubishi to manufacture and market Lancer cars in India is an example of.

A. Franchise agreement.
B. Vertical relationship.
C. Technological licence agreement.
D. Horizontal integrative relations.
Answer» C. Technological licence agreement.
285.

In which of the following systems, management of the distribution channels will be undertaken by single organization.

A. Vertical management systems.
B. Vertical marketing systems.
C. Conventional marketing systems.
D. None of the above.
Answer» B. Vertical marketing systems.
286.

The difference between the total value and the corrective cost of performing the value activities is .

A. Contribution.
B. Margin.
C. Revenue .
D. Performance.
Answer» B. Margin.
287.

The number of product lines a company carries is called.

A. Product mix.
B. Product mix depth.
C. Product mix width.
D. Product mix length.
Answer» C. Product mix width.
288.

The number of variants of a product offered by a company is called.

A. Product mix length.
B. Product mix depth.
C. Product mix width.
D. Product line length.
Answer» B. Product mix depth.
289.

If a company increases product line length by increasing its products range it is called.

A. Line increasing .
B. Line stretching.
C. Line filling.
D. Range stretching.
Answer» B. Line stretching.
290.

Companies that attack other firms including the market leader in an attempt to build market share are called.

A. Market followers
B. Market challengers.
C. Market leaders.
D. Market nichers.
Answer» B. Market challengers.
291.

Companies that follow the market leader's strategy are called.

A. Market nichers.
B. Market leaders.
C. Market followers.
D. Market challengers.
Answer» C. Market followers.
292.

Which one of the following is not an internal source of generating ideas for new product development

A. Market research
B. Directed research.
C. Need-gap analysis.
D. Top management.
Answer» A. Market research
293.

The method which generate new product ideas by analyzing the customer needs, wants and ideas is known.

A. Directed research.
B. Customer need analysis.
C. Need gap analysis.
D. Market research.
Answer» C. Need gap analysis.
294.

Which method of product portfolio analysis helps indeciding which products are to be retained and which are not to be.

A. Ansoff matrix.
B. Strategic environment matrix
C. BCG matrix.
D. None of the above.
Answer» C. BCG matrix.
295.

The methods which are used for evaluating marketing performance are.

A. Sales analysis and marketing cost analysis
B. Sales analysis and cost analysis
C. Market analysis and research analysis.
D. Demand analysis and supply analysis.
Answer» A. Sales analysis and marketing cost analysis
296.

The set of basic values, perceptions, wants and behaviors learned by a member of a society from family and other important institutions is called.

A. Sub-culture.
B. Social class.
C. Culture.
D. Reference groups.
Answer» C. Culture.
297.

What is the frame work that describes the positioning of firms database to support decisions with in the purview of total customer loyalty strategy

A. Customer retention strategy.
B. Customer bonding .
C. Customer positioning.
D. Customer acquisition.
Answer» B. Customer bonding .
298.

In which stage of product life cycle strategy, the company takes decision whether to maintain, harvest or drop the product.

A. Introduction.
B. Growth.
C. Maturity.
D. Decline.
Answer» D. Decline.
299.

The branding strategy which uses a different brand name for reach product is known as .

A. Over all family branding.
B. Line family branding.
C. Individual branding.
D. Brand extension.
Answer» C. Individual branding.
300.

Eurekha Forbes is popular for its strategy of.

A. Personal selling.
B. Sales promotion.
C. Advertisement.
D. Direct marketing.
Answer» D. Direct marketing.
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