What is an advantage of selling consumable items?
a)They do not need refrigeration
b)They typically have a large profit margin
c)They are
... [Show More] long-lasting
d)They tend to generate repeat business
They tend to generate repeat business
Which is typically perceived as one of the main advantages of a big-box retailer?
a)Personalized customer service
b)Low prices
c)Convenient downtown locations
Low prices
What are two advantages of highly marketable items?
a)They wear out quickly and need to be replaced often
b)They always have a high profit margin and are easy to get in stock
c)They are easy to sell and attract lots of customers to the store
They are easy to sell and attract lots of customers to the store
Which is an example of how a small store might best compete with a large, big-box chain?
a)By offering in-store workshops
b)By selling at a loss
c)By moving into a location across the street
By offering in-store workshops
Which of the following items is the least seasonal?
a)Bottled water
b)
Snowboard
c)Swimsuit
d)Whole turkey
Bottled Water
True or false: In retailing, "product" and "merchandise" are used interchangeably.
a)True
b)False
True
Which of the following items is NOT perishable?
a)Eggs
b)Meat
c)Batteries
d)Paper towel
Paper towel
Which product has the highest "consumability"?
a)A plasma TV
b)A loaf of bread
c)
A chest freezer
d)An iPad
A loaf of bread
What are "price points"?
a)Incentive programs that encourage customers to spend more
b)The practice of listing all prices so they end in ".99"
c)The typical selling prices at which goods are sold
The typical selling prices at which goods are sold
Which best describes "consultative selling"?
a)
Using the latest research to redesign a floor plan
b)Offering only one kind of each product
c)Working with a customer to determine his or her needs
Working with a customer to determine his or her needs
You have 2,500 square feet of selling space. You want to reserve at least 125 square feet for each product category you will carry. 30% of the space will be used for aisles. How many categories can you carry?
a)10
b)14
c)20
d)25
14
You need a 40% increase on the sale of batteries over last month to reach your sales goal for the quarter. Battery sales for last month totaled 700 units. How many additional batteries do you need to sell this month to achieve your sales goal?
a)300 batteries
b)265 batteries
c)460 batteries
d)280 batteries
280 batteries
You have 12 product displays. Six have 4 shelves and six have 3 shelves. It is store policy to dedicate at least one full shelf to each product. What is the maximum number of products you can have?
a)12
b)18
c)24
d)42
42
You sell 300 laptops per week at $690 per laptop. You sell 432 tablets per week at $590 per tablet. Which generates more dollars sales for you?
a)Laptops
b)Tablets
Tablets
:
Umbrellas are highly seasonal. Their highest selling month is 325% of their lowest selling month. During their lowest selling month, they sell 980 units. How many units do they sell during the peak month?
a)320
b)980
c)2,155
d)3,185
3,185
You have an opportunity to carry a new brand of football. You estimate that you will sell 300 per week with a margin of $40 per unit. However, you estimate that it will cannibalize (reduce) your sales of a lower margin football ($20 per unit) by 100 units per week. How much more margin will you generate if you carry the new football?
a)$10,000
b)$12,000
c)$2,000
d)$3,600
$10,000
Sales of cases of soft drinks are up 20% from last year. You sold 500 cases of soft drinks during September of the previous year. Based on current demand trends, what would the forecast be for total sales of cases of soft drinks for this September?
a)700 cases
b)400 cases
c)600 cases
d)550 cases
600 cases [Show Less]