128 Matching questions
- Do retailers hire outside firms to do their physical inventories?
- After the fear of credit card fraud, which of the following is the primary concern of online customers?
All customer requests identified through a want slip system should be stocked by the store
- For inventory purposes which would be subtracted from initial stock counts?
- Of the following product categories which would fashion have the least impact?
- What is canibalization?
- How do buyers recognize that the end is near for a fad?
- The number of department stores in the US is?
- Developing a merchandising plan should increase all of the following except?
- T/F Stock turnover rate is the average number of times stock is sold during a period of time
- The largest minority market in the United States is:
- Which of the following is not a major role of the merchandise manager?
- What is the formula to determine planned purchases=
- What is a key benefit of separating the buying and selling functions in retailing?
- Problems with Secondary data
- Excessive inventory could be caused by?
- Many college graduates are attracted to jobs as buyers because of?
- Open to buy:
- Is a merchandise plan for a specific # of months or any time period?
- What does Donnagher creative services do?
- In determining planned purchases which is added to sales?
- Which of the following best describes how buyers determine how many sources they will use before making purchasing decisions?
- Which one of the four things should not factor into merchandise selections?
- Difference between primary data and secondary?
- When buyers use numbers to state quantitative performance measurements, which is more important?
- A new retailer with limited funds would most likely select which of the following types of buying offices?
- Typically quick response does not require?
- In basic stock planning the re order period is the time the order is placed and the merchandise is on the floor
- All of the following are reasons for buyers to get input from sales associates except:
Customers ask sales associates for merchandise they cannot find stocked in the store
Sales associates have more knowledge about why merchandise is not selling
Sales associates are in continuous contact with customers
Sales associates have more knowledge about market conditions than do buyers
- Fashion adoption theories with opinion leaders within a specific market segment having the strongest influence?
- Chief benefit that vendor owned stores give to designers?
- A store with a product assortment appealing to weightlifters is using which type of target marketing?
- The primary advantage of central buying includes all of the following except:
Buying decisions are made by specialists
Lower merchandise costs can result
Centeralized data make trends easier to detect
Sales forecasts for the entire chain are less reliable
- Retailers having traditional storefronts and an online presence are known as
- Planned BOM stock levels can be calculated by multiplying planned sales by?
- What is the inventory planning method that maintains stock levels in a specific relation to sales called?
- The accuracy of a sales forecast will depend on:
- Know the Differences between exclusive, selective, integrated and differentiated- CHAPTER 11
- Which of the following is not one of the emerging retailing formats?
- All of the following could be used to describe the buyer's job except
Most retailers require that new buyers have college degrees.
- Which of the following is the most difficult for buyers to forecast?
- Who has to approve the sales forecast made by the buyer?
- Why would you ever buy from a wholesaler?
- At which stage of the product life cycle will it most likely be priced at its highest?
- Psychographic trends are related to all of the following except
- External Sales factors examples
- Net sales =
- Does Haute Couture make big money for designers? What is its purpose?
- The largest number of buying offices is located in which US city?
- A buyer who has been on the job two years is being considered for promotion. To which of the following positions would the buyer probably be promoted?
- Before taking a physical inventory it should be grouped by>
- Is reordering of Fashion Merchandise easy compared to basic stock reordering?
- Generation Z includes consumers up to
- The marketing concept is geared toward:
- More working women in the United States will result in all of the following except:
- Is a higher stock turnover rate an advantage?
- Who is responsible for making most of the retail purchases in the United States
- The external source that provides the most current information about hte product trends would be?
- In the past, most department stores used which type of target marketing?
- Which of the following is the best example of an emotional buying motive?
- The three types of departmentalization typically found in retail stores include all of the following except
- Which function within the retail store would have responsibility for moving merchandise purchased by the buyer to the sales floor?
- Is mass customization only in the apparel segment of retailing?
- All of the following retailers are known for their fast fashion strategy except:
- Fashion adoption theories: which one is based on the wealthy having the most influence on fashion?
- Markup is a quantitative performance objective against which buyers can be evaluated. Markup is defined as the difference between
- The overall framework or plan of action that guides a retailer is
- At small independent stores, who is usually responsible for buying activities?
- Does EDI reduce clearical and administrative costs for a retailer? What is EDI
- Largest category of non durables?
- Which of the following retailers was the first successful specialized superstore?
- In most large retail organizations the buyers immediate superior is the
- Benefits of direc marketing for consumers include all the following except:
- Of the product life cycle stages which stage will the product be accepted by only a few people?
- WHich of the following businesses is not a major warehouse club?
- Which one of these components would be entered at cost?
- Determine open to buy what do you subtract from your planned purchases?
- In recent years the number of latinos in the US has
- Searching through computer data to find trends and patterns that might otherwise have gone unnoticed is known as:
- Reductions examples:
- Skills needed by retail includes computer literacy, which involves all of the following except:
- How often do most retailers do physical inventory?
- Today in the United States the number of male homemakes is?
- What is the group called that will accept a new fashion first?
- What will increase stock turnover?
- Women wearing longer length skirts would probably cause changes in all of the following products except?
- Are sales for plus size market increasing?
- What is the difference between convenience products and specialty products?
- Which of the following best describes good marketing research?
- Which of the following publications would give the buyer the best information about current economic trends?
- According to Maslow, which needs do consumers tend to satisfy first?
- Using the following info how many are in stock.
- Which of the following market segments is a key target market of TV shopping channels?`
- Which one of these activities would NOT decrease stock turnover?
- Economic factors are considered
- T/F carrying too wide of a merchandise assortment can hurt stock turnover
- A specialty store's typical customer is female between the age of 35-55 and has a household income of more than $40,000. This information is best described as what type of data?
- Retail buying invloves
- Cumulative markup percentage has meaning for a buyer when it is compared against all of the following except:
Individual Markup percentages
- What is the difference between a fashion and a fad?
- All of the following are drawbacks to central buying except?
Merchandise selection for local conditions may be difficult
Cooperation between buyers and store managers may be strained
Enthusiastic and more knowledgeable sales staffs are easier to maintain
- Definition GMROI
- Which job title listed below would be primarily responsible for evaluating fashion trends?
- For which of the following types of merchandise will buyers probably have more difficulty in making purchasing decisions?
fashion or basic merchandising
- An applicant for a job as a buyer has a college degree. Which trait would best indicate that the applicant possesses?
- For most retailers the internet provides all of the following advantages except:
- Knowing that most of the customers of a local department store view themselves as conservative is an example of which type of data?
- Your EOM stock for January is the same as?
- A customer choosing to make a purchase at one store because he or she has always shopped there is an example of which type of buying motive?
- The original "Mazur Plan" used to organize most retail stores included all of the following functions except:
- Kohl's has established itself in a market niche between department stores and
- Key sources of internal information for making buying decisions include all the following except
- Definition of a wholesaler
- What are some of the things buyers need to consider when they are forecasting?
- What is it called when a product is designed or sold through a celebrity or corporate name?
- A customer purchasing a new car because of improved gas milage would be an example of which type of buying motive?
- Whats the formula for stock turnover?
- What is the first step of positioning a retail store?
- Which of the following is the best example of a quantitative performance goal for a retail buyer?
- Knowing that the typical consumer member of a warehouse club spends $75 per visit is an example of which type of data?
- Being able to forecast consumer demand is a skill needed by buyers. Which personality trait should they exhibit?
- In most large retail stores, all of the following are major job duties of merchandise managers except?
- All of the following items have been directed at calming and relaxing customers except:
Home Size Water fountains
- First place a buyer should start on information for a sales forecast?
- Fashion adoption theories which one is based on young people having the strongest influence?
- Being overbought causes all of the following except?
- Nondurable Retail Category
- a True
- b The amount of money you have to spend on purchases
- c lead time
- d To maintain an ending inventory of $50,000
- e Women
- f Reducing the price of merchandise in the store
- g Weekly inventories
- h All of the above
- i Percentages
- j Salaried
- k ...
- l Stock to sales ratio method
- m Markdowns
- n Fashion coordinator
- o Clicks and morter
- p Sales
- q Purchases
- r Trade journals
- s Self esteem
- t Anytime period of time
- u Decreasing
- v stock to sales ratio
- w Selecting and purchasing products to satisfy wants and needs of consumers, keeping sales and inventory records
- x Sales associates have more knowledge about market conditions than do buyers
- y New York
- z TRUE
- aa Customer satisfaction
- ab A fashion is a currently accepted or popular style and a fad is pop up trend of fashion.
- ac Sales/Average stock
- ad Travel Opportunities
- ae False
- af The buyers personal opinion/likes
- ag Merchandise cost and its selling price
- ah Decreasing average stock
- ai ability to design computer programs
- aj Liscensed
- ak TJ Maxx
- al Goal-Setting Ability
- am discount department stores
- an Tastes of customers
- ao Is it collected systematically, it involves using information from different sources, it is a step by step process
(All of the above)
- ap Horizontal
- aq Exclusive-vendors only sell the product to one retailer in a trading area. Selective-Sell to one or more selected retailer in the same trading area.
- ar true
- as Hardware
- at High school seniors
- au merchandise manager
- av Vision
- aw Past sales
- ax Classification
- ay Beginning inventory......
(Subtract returns to vendor)
(Add Customer Returns)
- az Retail Strategy
- ba When potential sales of existing products are lost to new items
- bb Hurricanes/natural disasters
- bc Laggards begin accepting the product
- bd Enthusiastic and more knowledgable sales staffs are easier to maintain
- be Demographic
- bf Routine
- bg Telemarketing
- bh No. It is not easy compared to basic stock
- bi The elderly
- bj Upward
- bk Introduction stage
- bl IT WILL REDUCE.
Electronic Data Interchange.....Quick Response....The vendor
- bm Shrinkage, markdowns, employee discounts
- bn Concentrated
- bo The internet
- bp Buyers can devote more of their time to product and market knowledge
- bq Hiring
- br Safety
- bs Gross sales - customer returns = net sales
- bt Rational
- bu Maintain markups increase
- bv Your BOM for FEB
- bw Undifferentiated
- bx ALL OF THE ABOVE
- by External factors for making buying decisions
- bz Food
- ca Type of information needed to make the purchase, type of merchandise they are purchasing, time available to make the purchase, (All of the above)
- cb Yes. NOt a disadvantage
- cc Operations
- cd Fashion merchandising
- ce increased
- cf big k mart
- cg Yes
- ch Purchasing Merchandise
- ci No. Its purpose is to make the designer stand out and make them unique/name for themselves. Popularize their name, brand awareness, designer name recognition, it is an inspiration.
- cj Existing and potential competition, target market
- ck Yes, to maintain accuracy of the books. Avoid shrinkage
- cl Once a year (walmart and target)
- cm Sales + Reductions + EOM - BOM
- cn Convenience products you don't take time to decide about the purchase, specialty you put in time and research before you buy
- co Teas
- cp Gloves
- cq centralized
- cr More space to show entire line to the public
- cs Merchandise Manager
- ct Reductions
- cu innovators
- cv Forecasts fashion
- cw Food, things that go bad
- cx Buyer for a major department
- cy "On Order"
- cz Personnel
- da No, it is in other places. Automobiles!
- db Skyrocketing sales
- dc A measurement of the profitability of a retailers sales
- dd Data mining
- de Better quality products guaranteed
- df Privacy
- dg Behavioristic
- dh Increasing
- di Primary data is collected by you first hand, secondary is what has already been published. Secondary data example: Trade publications
- dj Patronage
- dk Latinos
- dl Small stores because manufacturer wants you to buy in huge amounts
- dm More casual clothing
- dn Sales forecasts are less reliable
- do Toys R Us
- dp Business week
- dq Market identification
- dr Individual markup percentages
- ds Phsychographic
- dt Introduction
- du Can be outdated
- dv Downward
- dw Owner
- dx Consumer incomes