170 Multiple choice questions

1. True
   1. Today in the United States the number of male homemakes is?
   2. How do buyers recognize that the end is near for a fad?
   3. Chief benefit that vendor owned stores give to designers?
   4. T/F
      Most retailers require that new buyers have college degrees.
2. True
   1. T/F
      The primary job of the merchandise manager is to purchase merchandise for the store
   2. T/F
      Buyers at some retail stores have responsibility for purchasing only one category of merchandise
   3. T/F
      A stores organizational structure will have little impact on how buying is conducted in that store
   4. T/F
      careers in retail buying require individuals who are analytical and quantitative; little creativity is required.
3. Is it collected systematically, it involves using information from different sources, it is a step by step process
   (All of the above)
   1. WHich of the following businesses is not a major warehouse club?
   2. Which of the following is the best example of an emotional buying motive?
   3. What is the formula to determine planned purchases=
   4. Which of the following best describes good marketing research?
4. More space to show entire line to the public
   1. Which one of these components would be entered at cost?
   2. Chief benefit that vendor owned stores give to designers?
   3. Largest category of non durables?
   4. Economic factors are considered
5. Demographic
   1. 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?
   2. What is the difference between a fashion and a fad?
   3. What are some of the things buyers need to consider when they are forecasting?
   4. Who has to approve the sales forecast made by the buyer?
6. Classification
   1. Chief benefit that vendor owned stores give to designers?
   2. Largest category of non durables?
   3. Definition of a wholesaler
   4. Before taking a physical inventory it should be grouped by>
7. Purchases
   1. Which one of these components would be entered at cost?
   2. What is the difference between a fashion and a fad?
   3. What is the formula to determine planned purchases=
   4. Which one of these activities would NOT decrease stock turnover?
8. Your BOM for FEB
   1. Why would you ever buy from a wholesaler?
   2. Largest category of non durables?
   3. Your EOM stock for January is the same as?
   4. External Sales factors examples
9. innovators
   1. How do buyers recognize that the end is near for a fad?
   2. Who has to approve the sales forecast made by the buyer?
   3. What is the group called that will accept a new fashion first?
   4. What is canibalization?
10. Privacy
    1. Which of the following is not a major role of the merchandise manager?
    2. Of the product life cycle stages which stage will the product be accepted by only a few people?
    3. Re order period is after the the merchandise has been sold
    4. After the fear of credit card fraud, which of the following is the primary concern of online customers?
11. Selecting and purchasing products to satisfy wants and needs of consumers, keeping sales and inventory records
    1. Definition of a wholesaler
    2. Problems with Secondary data
    3. Open to buy:
    4. Retail buying invloves
12. 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.
    1. Which of the following best describes good marketing research?
    2. Know the Differences between exclusive, selective, integrated and differentiated- CHAPTER 11
    3. Difference between primary data and secondary?
    4. The number of department stores in the US is?
13. Women
    1. T/F
       Essentially buying offices make merchandise purchases for their client stores
    2. The largest minority market in the United States is:
    3. Who is responsible for making most of the retail purchases in the United States
    4. The number of department stores in the US is?
14. True
    1. T/F
       Market studies have shown that customers are more trusting of retail advice given by a computer terminal than by a salesperson
    2. Is mass customization only in the apparel segment of retailing?
    3. In most large retail stores, all of the following are major job duties of merchandise managers except?
    4. T/F
       Sears is the largest retailer in the United States
15. True
    1. T/F Many retailers count on the 4th quarter for over half the company profits
    2. T/F
       Sears is the largest retailer in the United States
    3. The accuracy of a sales forecast will depend on:
    4. The number of department stores in the US is?
16. Stock to sales ratio method
    1. What is the difference between convenience products and specialty products?
    2. Which of the following is the most difficult for buyers to forecast?
    3. What is the inventory planning method that maintains stock levels in a specific relation to sales called?
    4. What is the first step of positioning a retail store?
17. True
    1. Who has to approve the sales forecast made by the buyer?
    2. Re order period is after the the merchandise has been sold
    3. T/F
       Retail Buyers may select the best products available, yet have few sales.
    4. T/F
       The hypermarket concept was first developed in Australia
18. Yes
    1. Largest category of non durables?
    2. Your EOM stock for January is the same as?
    3. Are sales for plus size market increasing?
    4. The number of department stores in the US is?
19. Introduction stage
    1. Before taking a physical inventory it should be grouped by>
    2. Of the product life cycle stages which stage will the product be accepted by only a few people?
    3. Who has to approve the sales forecast made by the buyer?
    4. After the fear of credit card fraud, which of the following is the primary concern of online customers?
20. False
    1. T/F
       Fashion is affecting almost all merchandise categories in retail stores today.
    2. T/F
       Data that buyers collect in marketing research will lead to an immediate solution to their questions
    3. Chief benefit that vendor owned stores give to designers?
    4. T/F
       One recent research survey indicated that many consumers tend to go green only when other people can see it.
21. Upward
    1. Fashion adoption theories which one is based on young people having the strongest influence?
    2. Psychographic trends are related to all of the following except
    3. According to Maslow, which needs do consumers tend to satisfy first?
    4. What is the first step of positioning a retail store?
22. Sales forecasts are less reliable
    1. Being overbought causes all of the following except?
    2. The number of department stores in the US is?
    3. Skills needed by retail includes computer literacy, which involves all of the following except:
    4. 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
23. Latinos
    1. The largest minority market in the United States is:
    2. The marketing concept is geared toward:
    3. Are sales for plus size market increasing?
    4. Typically quick response does not require?
24. Reductions
    1. Is a higher stock turnover rate an advantage?
    2. In determining planned purchases which is added to sales?
    3. In recent years the number of latinos in the US has
    4. The marketing concept is geared toward:
25. Customer satisfaction
    1. The marketing concept is geared toward:
    2. Reductions examples:
    3. Whats the formula for stock turnover?
    4. Economic factors are considered
26. Decreasing
    1. The largest minority market in the United States is:
    2. Typically quick response does not require?
    3. External Sales factors examples
    4. The number of department stores in the US is?
27. Individual markup percentages
    1. Cumulative markup percentage has meaning for a buyer when it is compared against all of the following except:
       Past records
       Industry Averages
       Individual Markup percentages
       Established goals
    2. Does Haute Couture make big money for designers? What is its purpose?
    3. In most large retail organizations the buyers immediate superior is the
    4. What are some of the things buyers need to consider when they are forecasting?
28. Gloves
    1. Women wearing longer length skirts would probably cause changes in all of the following products except?
    2. Being overbought causes all of the following except?
    3. More working women in the United States will result in all of the following except:
    4. Key sources of internal information for making buying decisions include all the following except
29. Shrinkage, markdowns, employee discounts
    1. Definition GMROI
    2. Definition of a wholesaler
    3. Economic factors are considered
    4. Reductions examples:
30. Existing and potential competition, target market
    1. What are some of the things buyers need to consider when they are forecasting?
    2. Which one of the four things should not factor into merchandise selections?
    3. According to Maslow, which needs do consumers tend to satisfy first?
    4. What is the difference between a fashion and a fad?
31. Laggards begin accepting the product
    1. Excessive inventory could be caused by?
    2. How do buyers recognize that the end is near for a fad?
    3. Largest category of non durables?
    4. How often do most retailers do physical inventory?
32. Owner
    1. T/F a manufactures rep can only represent one manufacterer
    2. Being overbought causes all of the following except?
    3. Determine open to buy what do you subtract from your planned purchases?
    4. At small independent stores, who is usually responsible for buying activities?
33. Business week
    1. Which of the following publications would give the buyer the best information about current economic trends?
    2. Which of the following is the best example of an emotional buying motive?
    3. Which of the following best describes good marketing research?
    4. Which of the following is not a major role of the merchandise manager?
34. True
    1. T/F
       The hypermarket concept was first developed in Australia
    2. T/F a manufactures rep can only represent one manufacterer
    3. The accuracy of a sales forecast will depend on:
    4. T/F
       For many consumers, shopping has become a chore an activity that many hate
35. Increasing
    1. In recent years the number of latinos in the US has
    2. Today in the United States the number of male homemakes is?
    3. Why would you ever buy from a wholesaler?
    4. What is the first step of positioning a retail store?
36. Operations
    1. Which function within the retail store would have responsibility for moving merchandise purchased by the buyer to the sales floor?
    2. T/F
       Buyers at some retail stores have responsibility for purchasing only one category of merchandise
    3. Which one of these activities would NOT decrease stock turnover?
    4. Which of the following best describes good marketing research?
37. ...
    1. Definition GMROI
    2. Open to buy:
    3. Reductions examples:
    4. Definition of a wholesaler
38. ALL OF THE ABOVE
    1. The accuracy of a sales forecast will depend on:
    2. The marketing concept is geared toward:
    3. The number of department stores in the US is?
    4. Generation Z includes consumers up to
39. "On Order"
    1. Benefits that vendor owned stores offer for themselves?
    2. Research has shown quick responses increases:
    3. Determine open to buy what do you subtract from your planned purchases?
    4. In recent years the number of latinos in the US has
40. True
    1. T/F
       Customers who use loyalty cards also tend to be the most frequent shoppers
    2. Being overbought causes all of the following except?
    3. T/F
       High performing retailers compete on the basis of price rather than value?
    4. Do retailers hire outside firms to do their physical inventories?
41. Past sales
    1. Which of the following is the most difficult for buyers to forecast?
    2. Today in the United States the number of male homemakes is?
    3. What is the group called that will accept a new fashion first?
    4. First place a buyer should start on information for a sales forecast?
42. Introduction
    1. Chief benefit that vendor owned stores give to designers?
    2. Which of the following best describes good marketing research?
    3. In recent years the number of latinos in the US has
    4. At which stage of the product life cycle will it most likely be priced at its highest?
43. 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.
    1. In recent years the number of latinos in the US has
    2. Does Haute Couture make big money for designers? What is its purpose?
    3. Who has to approve the sales forecast made by the buyer?
    4. Which one of these activities would NOT decrease stock turnover?
44. Convenience products you don't take time to decide about the purchase, specialty you put in time and research before you buy
    1. What is the group called that will accept a new fashion first?
    2. Which of the following is not one of the emerging retailing formats?
    3. The marketing concept is geared toward:
    4. What is the difference between convenience products and specialty products?
45. Hurricanes/natural disasters
    1. Excessive inventory could be caused by?
    2. External Sales factors examples
    3. Economic factors are considered
    4. Research has shown quick responses increases:
46. More casual clothing
    1. More working women in the United States will result in all of the following except:
    2. Psychographic trends are related to all of the following except
    3. Being overbought causes all of the following except?
    4. Today in the United States the number of male homemakes is?
47. ability to design computer programs
    1. More working women in the United States will result in all of the following except:
    2. Skills needed by retail includes computer literacy, which involves all of the following except:
    3. Developing a merchandising plan should increase all of the following except?
    4. In determining planned purchases which is added to sales?
48. Gross sales - customer returns = net sales
    1. What is canibalization?
    2. Net sales =
    3. Definition of a wholesaler
    4. Definition GMROI
49. True
    1. T/F
       The hypermarket concept was first developed in Australia
    2. Which one of these components would be entered at cost?
    3. T/F
       Part of the buyers job will be to develop capable assistants
    4. What is the difference between a fashion and a fad?
50. Toys R Us
    1. Which of the following retailers was the first successful specialized superstore?
    2. Which of the following is not one of the emerging retailing formats?
    3. Which of the following is not a major role of the merchandise manager?
    4. Which of the following is the best example of an emotional buying motive?
51. discount department stores
    1. What is the first step of positioning a retail store?
    2. In recent years the number of latinos in the US has
    3. Kohl's has established itself in a market niche between department stores and
    4. The accuracy of a sales forecast will depend on:
52. The elderly
    1. WHich of the following businesses is not a major warehouse club?
    2. Which of the following market segments is a key target market of TV shopping channels?`
    3. Which of the following is the best example of an emotional buying motive?
    4. Which of the following best describes how buyers determine how many sources they will use before making purchasing decisions?
53. Phsychographic
    1. Which one of these components would be entered at cost?
    2. What is the formula to determine planned purchases=
    3. Knowing that most of the customers of a local department store view themselves as conservative is an example of which type of data?
    4. Your EOM stock for January is the same as?
54. Teas
    1. How often do most retailers do physical inventory?
    2. Many college graduates are attracted to jobs as buyers because of?
    3. All of the following items have been directed at calming and relaxing customers except:
       CD Players
       Home Size Water fountains
       Candles
       Teas
    4. Are sales for plus size market increasing?
55. True
    1. T/F
       Data warehouse techniques have not been widely adapted by mid-sized and small chain stores
    2. Today in the United States the number of male homemakes is?
    3. Who has to approve the sales forecast made by the buyer?
    4. T/F
       Automatic reordering systems are most often used with fashion merchandising.
56. merchandise manager
    1. Re order period is after the the merchandise has been sold
    2. The largest minority market in the United States is:
    3. How do buyers recognize that the end is near for a fad?
    4. In most large retail organizations the buyers immediate superior is the
57. Clicks and morter
    1. Retailers having traditional storefronts and an online presence are known as
    2. Before taking a physical inventory it should be grouped by>
    3. The overall framework or plan of action that guides a retailer is
    4. T/F a manufactures rep can only represent one manufacterer
58. Self esteem
    1. Which of the following is the best example of an emotional buying motive?
    2. Using the following info how many are in stock.
    3. Which of the following is the best example of a quantitative performance goal for a retail buyer?
    4. Which of the following retailers was the first successful specialized superstore?
59. Salaried
    1. Benefits that vendor owned stores offer for themselves?
    2. Women wearing longer length skirts would probably cause changes in all of the following products except?
    3. Psychographic trends are related to all of the following except
    4. A new retailer with limited funds would most likely select which of the following types of buying offices?
60. Hiring
    1. Which of the following is not a major role of the merchandise manager?
    2. Which of the following best describes good marketing research?
    3. WHich of the following businesses is not a major warehouse club?
    4. Which of the following is the most difficult for buyers to forecast?
61. False
    1. Is a higher stock turnover rate an advantage?
    2. T/F
       Part of the buyers job will be to develop capable assistants
    3. T/F
       Retailers look at baby boomers as a single market segment
    4. The marketing concept is geared toward:
62. Decreasing average stock
    1. Definition GMROI
    2. Definition of a wholesaler
    3. Generation Z includes consumers up to
    4. What will increase stock turnover?
63. True
    1. T/F
       Almost half the businesses in the United States are each run entirely by one or two people
    2. T/F
       Sears is the largest retailer in the United States
    3. T/F
       Automatic reordering systems are most often used with fashion merchandising.
    4. T/F
       The primary job of the merchandise manager is to purchase merchandise for the store
64. Buyer for a major department
    1. T/F
       The key limitation to relying on store records to predict consumer demand is that they do not reflect what the customer would ave purchased if it had been in stock
    2. 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?
    3. More working women in the United States will result in all of the following except:
    4. Benefits that vendor owned stores offer for themselves?
65. Sales
    1. Research has shown quick responses increases:
    2. Typically quick response does not require?
    3. Economic factors are considered
    4. Generation Z includes consumers up to
66. True
    1. T/F
       The number of people who are going to be over 65 in a decade from now cannot be forecasted
    2. T/F
       All customer requests identified through a want slip system should be stocked by the store
    3. T/F
       The warehouse requisition plan gives the store manager more freedom to make purchase decisions than does the central merchandising plan.
    4. T/F a manufactures rep can only represent one manufacterer
67. true
    1. T/F forecasts that attempt to predict sales far into the future will be less accurate then short term predictions
    2. T/F
       Data that buyers collect in marketing research will lead to an immediate solution to their questions
    3. Who has to approve the sales forecast made by the buyer?
    4. The largest minority market in the United States is:
68. Sales associates have more knowledge about market conditions than do buyers
    1. 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
    2. Which of the following is the most difficult for buyers to forecast?
    3. Benefits of direc marketing for consumers include all the following except:
    4. The largest minority market in the United States is:
69. No, it is in other places. Automobiles!
    1. Is a higher stock turnover rate an advantage?
    2. Is mass customization only in the apparel segment of retailing?
    3. Your EOM stock for January is the same as?
    4. Typically quick response does not require?
70. lead time
    1. In recent years the number of latinos in the US has
    2. The first and most important part of the 6 month plan is forecasting what?
    3. In basic stock planning the re order period is the time the order is placed and the merchandise is on the floor
    4. Who has to approve the sales forecast made by the buyer?
71. Sales/Average stock
    1. Largest category of non durables?
    2. Whats the formula for stock turnover?
    3. Economic factors are considered
    4. What does Donnagher creative services do?
72. Merchandise Manager
    1. What will increase stock turnover?
    2. What does Donnagher creative services do?
    3. Who has to approve the sales forecast made by the buyer?
    4. Benefits that vendor owned stores offer for themselves?
73. Weekly inventories
    1. Generation Z includes consumers up to
    2. Typically quick response does not require?
    3. Your EOM stock for January is the same as?
    4. What will increase stock turnover?
74. Once a year (walmart and target)
    1. What will increase stock turnover?
    2. Are sales for plus size market increasing?
    3. How often do most retailers do physical inventory?
    4. Nondurable Retail Category
75. Safety
    1. What is the group called that will accept a new fashion first?
    2. Generation Z includes consumers up to
    3. The largest minority market in the United States is:
    4. According to Maslow, which needs do consumers tend to satisfy first?
76. Enthusiastic and more knowledgable sales staffs are easier to maintain
    1. 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
    2. All of the following items have been directed at calming and relaxing customers except:
       CD Players
       Home Size Water fountains
       Candles
       Teas
    3. Which of the following is the best example of an emotional buying motive?
    4. All of the following could be used to describe the buyer's job except
77. Concentrated
    1. The largest minority market in the United States is:
    2. The first and most important part of the 6 month plan is forecasting what?
    3. A store with a product assortment appealing to weightlifters is using which type of target marketing?
    4. Re order period is after the the merchandise has been sold
78. Vision
    1. Being able to forecast consumer demand is a skill needed by buyers. Which personality trait should they exhibit?
    2. Many college graduates are attracted to jobs as buyers because of?
    3. What is the formula to determine planned purchases=
    4. Chief benefit that vendor owned stores give to designers?
79. Tastes of customers
    1. All of the following could be used to describe the buyer's job except
    2. Whats the formula for stock turnover?
    3. Which of the following is not a major role of the merchandise manager?
    4. Which of the following is the most difficult for buyers to forecast?
80. External factors for making buying decisions
    1. Largest category of non durables?
    2. Definition GMROI
    3. Economic factors are considered
    4. Retail buying invloves
81. Liscensed
    1. What is the difference between a fashion and a fad?
    2. Who has to approve the sales forecast made by the buyer?
    3. What is it called when a product is designed or sold through a celebrity or corporate name?
    4. What are some of the things buyers need to consider when they are forecasting?
82. Travel Opportunities
    1. Today in the United States the number of male homemakes is?
    2. The number of department stores in the US is?
    3. In recent years the number of latinos in the US has
    4. Many college graduates are attracted to jobs as buyers because of?
83. Primary data is collected by you first hand, secondary is what has already been published. Secondary data example: Trade publications
    1. Difference between primary data and secondary?
    2. What is the difference between a fashion and a fad?
    3. Generation Z includes consumers up to
    4. Largest category of non durables?
84. Goal-Setting Ability
    1. T/F
       Part of the buyers job will be to develop capable assistants
    2. An applicant for a job as a buyer has a college degree. Which trait would best indicate that the applicant possesses?
    3. 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?
    4. Fashion adoption theories which one is based on young people having the strongest influence?
85. true
    1. Psychographic trends are related to all of the following except
    2. T/F
       Sears is the largest retailer in the United States
    3. Today in the United States the number of male homemakes is?
    4. T/F Stock turnover rate is the average number of times stock is sold during a period of time
86. Market identification
    1. Largest category of non durables?
    2. Typically quick response does not require?
    3. What will increase stock turnover?
    4. What is the first step of positioning a retail store?
87. Patronage
    1. According to Maslow, which needs do consumers tend to satisfy first?
    2. In determining planned purchases which is added to sales?
    3. 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?
    4. The number of department stores in the US is?
88. True
    1. The employment outlook for buyers is expected to grow slower than the average for all occupations
    2. Many college graduates are attracted to jobs as buyers because of?
    3. What are some of the things buyers need to consider when they are forecasting?
    4. How do buyers recognize that the end is near for a fad?
89. Downward
    1. In recent years the number of latinos in the US has
    2. Psychographic trends are related to all of the following except
    3. Fashion adoption theories: which one is based on the wealthy having the most influence on fashion?
    4. Which one of these components would be entered at cost?
90. True
    1. Many college graduates are attracted to jobs as buyers because of?
    2. Retail stores represented by buying offices can have their buyers make fewer and shorter trips to the market
    3. What is the first step of positioning a retail store?
    4. T/F
       Essentially buying offices make merchandise purchases for their client stores
91. A measurement of the profitability of a retailers sales
    1. Definition GMROI
    2. Retail buying invloves
    3. Largest category of non durables?
    4. Economic factors are considered
92. False
    1. T/F carrying too wide of a merchandise assortment can hurt stock turnover
    2. For which of the following types of merchandise will buyers probably have more difficulty in making purchasing decisions?
       fashion or basic merchandising
    3. T/F
       The primary job of the merchandise manager is to purchase merchandise for the store
    4. T/F Departmentalization occurs in retailing when the owner can no longer handle all the duties required of him or her
93. Yes, to maintain accuracy of the books. Avoid shrinkage
    1. Do retailers hire outside firms to do their physical inventories?
    2. What is the formula to determine planned purchases=
    3. How often do most retailers do physical inventory?
    4. How do buyers recognize that the end is near for a fad?
94. False
    1. T/F a manufactures rep can only represent one manufacterer
    2. The accuracy of a sales forecast will depend on:
    3. Economic factors are considered
    4. Difference between primary data and secondary?
95. True
    1. T/F
       Fashion is affecting almost all merchandise categories in retail stores today.
    2. T/F
       The hypermarket concept was first developed in Australia
    3. T/F
       The number of people who are going to be over 65 in a decade from now cannot be forecasted
    4. Who is responsible for making most of the retail purchases in the United States
96. Behavioristic
    1. Benefits that vendor owned stores offer for themselves?
    2. Knowing that the typical consumer member of a warehouse club spends $75 per visit is an example of which type of data?
    3. The largest minority market in the United States is:
    4. Today in the United States the number of male homemakes is?
97. No. It is not easy compared to basic stock
    1. Being overbought causes all of the following except?
    2. Is reordering of Fashion Merchandise easy compared to basic stock reordering?
    3. Which one of these activities would NOT decrease stock turnover?
    4. Is a merchandise plan for a specific # of months or any time period?
98. Fashion coordinator
    1. Which one of the four things should not factor into merchandise selections?
    2. Which job title listed below would be primarily responsible for evaluating fashion trends?
    3. Which function within the retail store would have responsibility for moving merchandise purchased by the buyer to the sales floor?
    4. At small independent stores, who is usually responsible for buying activities?
99. All of the above
    1. Economic factors are considered
    2. Nondurable Retail Category
    3. Excessive inventory could be caused by?
    4. Open to buy:
100. True
     1. T/F
        The hypermarket concept was first developed in Australia
     2. T/F
        The primary job of the merchandise manager is to purchase merchandise for the store
     3. T/F
        Using past sales records to forecast sales is more reliable for basic merchandise than for fashion merchandising
     4. The accuracy of a sales forecast will depend on:
101. False
     1. T/F
        Fashion is affecting almost all merchandise categories in retail stores today.
     2. T/F
        When analyzing trends, buyers must realize that a general trend for the country may not be valid for a particular region or city.
     3. T/F
        Essentially buying offices make merchandise purchases for their client stores
     4. T/F
        Almost half the businesses in the United States are each run entirely by one or two people
102. Better quality products guaranteed
     1. Benefits of direc marketing for consumers include all the following except:
     2. Psychographic trends are related to all of the following except
     3. The number of department stores in the US is?
     4. Developing a merchandising plan should increase all of the following except?
103. Data mining
     1. Which one of these components would be entered at cost?
     2. Is a higher stock turnover rate an advantage?
     3. Being overbought causes all of the following except?
     4. Searching through computer data to find trends and patterns that might otherwise have gone unnoticed is known as:
104. TRUE
     1. The largest minority market in the United States is:
     2. T/F carrying too wide of a merchandise assortment can hurt stock turnover
     3. Which one of these activities would NOT decrease stock turnover?
     4. Whats the formula for stock turnover?
105. False
     1. T/F
        Buyers should seek secondary data before making plans to obtain primary data.
     2. T/F
        Retail Buyers may select the best products available, yet have few sales.
     3. T/F
        Buyers at some retail stores have responsibility for purchasing only one category of merchandise
     4. T/F
        Automatic reordering systems are most often used with fashion merchandising.
106. Retail Strategy
     1. The largest minority market in the United States is:
     2. The overall framework or plan of action that guides a retailer is
     3. Why would you ever buy from a wholesaler?
     4. External Sales factors examples
107. Food
     1. Retail buying invloves
     2. What is canibalization?
     3. Economic factors are considered
     4. Largest category of non durables?
108. stock to sales ratio
     1. Planned BOM stock levels can be calculated by multiplying planned sales by?
     2. Excessive inventory could be caused by?
     3. What is the formula to determine planned purchases=
     4. In recent years the number of latinos in the US has
109. False
     1. T/F
        For many consumers, shopping has become a chore an activity that many hate
     2. T/F
        Accuracy of sales forecasting tends to improve as data mining techniques are used.
     3. T/F
        The key limitation to relying on store records to predict consumer demand is that they do not reflect what the customer would ave purchased if it had been in stock
     4. T/F
        careers in retail buying require individuals who are analytical and quantitative; little creativity is required.
110. ...
     1. What is the first step of positioning a retail store?
     2. The number of department stores in the US is?
     3. Benefits that vendor owned stores offer for themselves?
     4. Largest category of non durables?
111. To maintain an ending inventory of $50,000
     1. Which of the following is not one of the emerging retailing formats?
     2. Which of the following publications would give the buyer the best information about current economic trends?
     3. Which of the following is the best example of a quantitative performance goal for a retail buyer?
     4. For which of the following types of merchandise will buyers probably have more difficulty in making purchasing decisions?
        fashion or basic merchandising
112. Purchasing Merchandise
     1. Which function within the retail store would have responsibility for moving merchandise purchased by the buyer to the sales floor?
     2. In most large retail stores, all of the following are major job duties of merchandise managers except?
     3. What is a key benefit of separating the buying and selling functions in retailing?
     4. In most large retail organizations the buyers immediate superior is the
113. IT WILL REDUCE.
     Electronic Data Interchange.....Quick Response....The vendor
     1. Is a merchandise plan for a specific # of months or any time period?
     2. Does EDI reduce clearical and administrative costs for a retailer? What is EDI
     3. How do buyers recognize that the end is near for a fad?
     4. The number of department stores in the US is?
114. False
     1. What is the first step of positioning a retail store?
     2. T/F
        Almost half the businesses in the United States are each run entirely by one or two people
     3. T/F
        When analyzing trends, buyers must realize that a general trend for the country may not be valid for a particular region or city.
     4. T/F
        Decentralization involves moving buyers from indivudal retail stores to the chain's headquarters
115. New York
     1. Which one of these components would be entered at cost?
     2. The largest number of buying offices is located in which US city?
     3. The largest minority market in the United States is:
     4. WHich of the following businesses is not a major warehouse club?
116. Undifferentiated
     1. In the past, most department stores used which type of target marketing?
     2. The first and most important part of the 6 month plan is forecasting what?
     3. The number of department stores in the US is?
     4. Are sales for plus size market increasing?
117. Buyers can devote more of their time to product and market knowledge
     1. What is a key benefit of separating the buying and selling functions in retailing?
     2. In most large retail organizations the buyers immediate superior is the
     3. What is the group called that will accept a new fashion first?
     4. Chief benefit that vendor owned stores give to designers?
118. True
     1. T/F a manufactures rep can only represent one manufacterer
     2. T/F
        Retailers look at baby boomers as a single market segment
     3. Today in the United States the number of male homemakes is?
     4. T/F
        Retail Buyers are undifferentiated target marketing by eleminating product categories.
119. Routine
     1. Which of the following is the most difficult for buyers to forecast?
     2. All of the following could be used to describe the buyer's job except
     3. Which of the following best describes good marketing research?
     4. All of the following items have been directed at calming and relaxing customers except:
        CD Players
        Home Size Water fountains
        Candles
        Teas
120. True
     1. T/F a manufactures rep can only represent one manufacterer
     2. T/F Purchases from a wholesaler rather than buying directly from manufacturer will result in a higher cost.
     3. What is the group called that will accept a new fashion first?
     4. Today in the United States the number of male homemakes is?
121. Type of information needed to make the purchase, type of merchandise they are purchasing, time available to make the purchase, (All of the above)
     1. Which of the following publications would give the buyer the best information about current economic trends?
     2. Which of the following is the best example of an emotional buying motive?
     3. Which of the following best describes how buyers determine how many sources they will use before making purchasing decisions?
     4. For which of the following types of merchandise will buyers probably have more difficulty in making purchasing decisions?
        fashion or basic merchandising
122. False
     1. Being overbought causes all of the following except?
     2. Are sales for plus size market increasing?
     3. The number of department stores in the US is?
     4. T/F
        The hypermarket concept was first developed in Australia
123. Can be outdated
     1. What is canibalization?
     2. Open to buy:
     3. Net sales =
     4. Problems with Secondary data
124. Merchandise cost and its selling price
     1. The overall framework or plan of action that guides a retailer is
     2. Markup is a quantitative performance objective against which buyers can be evaluated. Markup is defined as the difference between
     3. In the past, most department stores used which type of target marketing?
     4. Which of the following is the most difficult for buyers to forecast?
125. Skyrocketing sales
     1. Is a higher stock turnover rate an advantage?
     2. For most retailers the internet provides all of the following advantages except:
     3. Developing a merchandising plan should increase all of the following except?
     4. Do retailers hire outside firms to do their physical inventories?
126. False
     1. T/F
        Most retailers require that new buyers have college degrees.
     2. T/F
        Buyers at some retail stores have responsibility for purchasing only one category of merchandise
     3. T/F
        A stores organizational structure will have little impact on how buying is conducted in that store
     4. T/F
        Comparing sales figures from this year with sales at the same time last year is an example of marketing research
127. ...
     1. Excessive inventory could be caused by?
     2. The accuracy of a sales forecast will depend on:
     3. Today in the United States the number of male homemakes is?
     4. Re order period is after the the merchandise has been sold
128. Reducing the price of merchandise in the store
     1. Chief benefit that vendor owned stores give to designers?
     2. What is the formula to determine planned purchases=
     3. Which one of these activities would NOT decrease stock turnover?
     4. Which one of these components would be entered at cost?
129. True
     1. The accuracy of a sales forecast will depend on:
     2. T/F
        Automatic reordering systems are most often used with fashion merchandising.
     3. T/F
        The number of people who are going to be over 65 in a decade from now cannot be forecasted
     4. T/F
        Accuracy of sales forecasting tends to improve as data mining techniques are used.
130. increased
     1. Your EOM stock for January is the same as?
     2. What does Donnagher creative services do?
     3. Who has to approve the sales forecast made by the buyer?
     4. In recent years the number of latinos in the US has
131. Personnel
     1. How do buyers recognize that the end is near for a fad?
     2. The overall framework or plan of action that guides a retailer is
     3. Benefits that vendor owned stores offer for themselves?
     4. The original "Mazur Plan" used to organize most retail stores included all of the following functions except:
        personnel
        merchandising
        control
        publicity
132. True
     1. T/F
        The primary job of the merchandise manager is to purchase merchandise for the store
     2. T/F
        The key limitation to relying on store records to predict consumer demand is that they do not reflect what the customer would ave purchased if it had been in stock
     3. T/F
        Sears is the largest retailer in the United States
     4. T/F
        The number of people who are going to be over 65 in a decade from now cannot be forecasted
133. Small stores because manufacturer wants you to buy in huge amounts
     1. External Sales factors examples
     2. Your EOM stock for January is the same as?
     3. What is canibalization?
     4. Why would you ever buy from a wholesaler?
134. A fashion is a currently accepted or popular style and a fad is pop up trend of fashion.
     1. What is the formula to determine planned purchases=
     2. What will increase stock turnover?
     3. What is the difference between a fashion and a fad?
     4. Whats the formula for stock turnover?
135. The amount of money you have to spend on purchases
     1. Economic factors are considered
     2. Open to buy:
     3. Definition of a wholesaler
     4. What is canibalization?
136. True
     1. T/F
        High performing retailers compete on the basis of price rather than value?
     2. T/F
        Fashion forecasters are business consultants that retailers can hire to help predict the number of items they should purchase
     3. WHich of the following businesses is not a major warehouse club?
     4. T/F
        Retailers look at baby boomers as a single market segment
137. Sales
     1. The first and most important part of the 6 month plan is forecasting what?
     2. Is mass customization only in the apparel segment of retailing?
     3. In the past, most department stores used which type of target marketing?
     4. How do buyers recognize that the end is near for a fad?
138. Forecasts fashion
     1. What will increase stock turnover?
     2. What is canibalization?
     3. Why would you ever buy from a wholesaler?
     4. What does Donnagher creative services do?
139. Markdowns
     1. Psychographic trends are related to all of the following except
     2. Being overbought causes all of the following except?
     3. Developing a merchandising plan should increase all of the following except?
     4. Is a merchandise plan for a specific # of months or any time period?
140. Hardware
     1. Of the following product categories which would fashion have the least impact?
     2. Using the following info how many are in stock.
     3. Which of the following is the most difficult for buyers to forecast?
     4. Which of the following is not one of the emerging retailing formats?
141. Horizontal
     1. Fashion adoption theories with opinion leaders within a specific market segment having the strongest influence?
     2. Fashion adoption theories: which one is based on the wealthy having the most influence on fashion?
     3. WHich of the following businesses is not a major warehouse club?
     4. T/F
        Retailers look at baby boomers as a single market segment
142. True
     1. T/F
        One recent research survey indicated that many consumers tend to go green only when other people can see it.
     2. T/F
        All customer requests identified through a want slip system should be stocked by the store
     3. T/F
        Sears is the largest retailer in the United States
     4. T/F
        The hypermarket concept was first developed in Australia
143. True
     1. Which of the following is the most difficult for buyers to forecast?
     2. T/F
        Retailers look at baby boomers as a single market segment
     3. T/F
        When analyzing trends, buyers must realize that a general trend for the country may not be valid for a particular region or city.
     4. T/F
        High performing retailers compete on the basis of price rather than value?
144. False
     1. T/F
        Retail Buyers are undifferentiated target marketing by eleminating product categories.
     2. T/F
        Data warehouse techniques have not been widely adapted by mid-sized and small chain stores
     3. T/F
        All customer requests identified through a want slip system should be stocked by the store
     4. T/F
        Part of the buyers job will be to develop capable assistants
145. Anytime period of time
     1. Developing a merchandising plan should increase all of the following except?
     2. Is a higher stock turnover rate an advantage?
     3. What is the first step of positioning a retail store?
     4. Is a merchandise plan for a specific # of months or any time period?
146. Trade journals
     1. Generation Z includes consumers up to
     2. Skills needed by retail includes computer literacy, which involves all of the following except:
     3. Key sources of internal information for making buying decisions include all the following except
     4. The accuracy of a sales forecast will depend on:
147. Percentages
     1. When buyers use numbers to state quantitative performance measurements, which is more important?
     2. What is the first step of positioning a retail store?
     3. Markup is a quantitative performance objective against which buyers can be evaluated. Markup is defined as the difference between
     4. Re order period is after the the merchandise has been sold
148. High school seniors
     1. Economic factors are considered
     2. Excessive inventory could be caused by?
     3. Generation Z includes consumers up to
     4. External Sales factors examples
149. Rational
     1. A customer purchasing a new car because of improved gas milage would be an example of which type of buying motive?
     2. Is a merchandise plan for a specific # of months or any time period?
     3. Cumulative markup percentage has meaning for a buyer when it is compared against all of the following except:
        Past records
        Industry Averages
        Individual Markup percentages
        Established goals
     4. 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?
150. The internet
     1. The external source that provides the most current information about hte product trends would be?
     2. The number of department stores in the US is?
     3. In recent years the number of latinos in the US has
     4. First place a buyer should start on information for a sales forecast?
151. True
     1. T/F
        High performing retailers compete on the basis of price rather than value?
     2. T/F
        The primary job of the merchandise manager is to purchase merchandise for the store
     3. How do buyers recognize that the end is near for a fad?
     4. T/F
        Buyers should seek secondary data before making plans to obtain primary data.
152. Food, things that go bad
     1. Retail buying invloves
     2. Open to buy:
     3. Problems with Secondary data
     4. Nondurable Retail Category
153. centralized
     1. The three types of departmentalization typically found in retail stores include all of the following except
     2. The largest minority market in the United States is:
     3. Which one of these activities would NOT decrease stock turnover?
     4. The original "Mazur Plan" used to organize most retail stores included all of the following functions except:
        personnel
        merchandising
        control
        publicity
154. big k mart
     1. Which of the following is the most difficult for buyers to forecast?
     2. WHich of the following businesses is not a major warehouse club?
     3. What is the difference between a fashion and a fad?
     4. Which of the following is not one of the emerging retailing formats?
155. Sales
     1. Excessive inventory could be caused by?
     2. How often do most retailers do physical inventory?
     3. Determine open to buy what do you subtract from your planned purchases?
     4. For inventory purposes which would be subtracted from initial stock counts?
156. True
     1. T/F
        Sears is the largest retailer in the United States
     2. T/F
        The primary job of the merchandise manager is to purchase merchandise for the store
     3. The three types of departmentalization typically found in retail stores include all of the following except
     4. T/F Departmentalization occurs in retailing when the owner can no longer handle all the duties required of him or her
157. TJ Maxx
     1. All of the following items have been directed at calming and relaxing customers except:
        CD Players
        Home Size Water fountains
        Candles
        Teas
     2. Psychographic trends are related to all of the following except
     3. All of the following retailers are known for their fast fashion strategy except:
     4. Of the following product categories which would fashion have the least impact?
158. False
     1. Research has shown quick responses increases:
     2. T/F
        Sears is the largest retailer in the United States
     3. Who is responsible for making most of the retail purchases in the United States
     4. Your EOM stock for January is the same as?
159. Yes. NOt a disadvantage
     1. The marketing concept is geared toward:
     2. Is a higher stock turnover rate an advantage?
     3. Nondurable Retail Category
     4. Economic factors are considered
160. Sales + Reductions + EOM - BOM
     1. What is the formula to determine planned purchases=
     2. Are sales for plus size market increasing?
     3. Why would you ever buy from a wholesaler?
     4. Is a higher stock turnover rate an advantage?
161. When potential sales of existing products are lost to new items
     1. What is canibalization?
     2. Retail buying invloves
     3. Largest category of non durables?
     4. Definition of a wholesaler
162. Fashion merchandising
     1. Using the following info how many are in stock.
     2. For which of the following types of merchandise will buyers probably have more difficulty in making purchasing decisions?
        fashion or basic merchandising
     3. 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
     4. All of the following could be used to describe the buyer's job except
163. Beginning inventory......
     (Subtract returns to vendor)
     (Add Purchases)
     (Subtract Sales)
     (Add Customer Returns)
     =Stock
     1. Economic factors are considered
     2. WHich of the following businesses is not a major warehouse club?
     3. Is a higher stock turnover rate an advantage?
     4. Using the following info how many are in stock.
164. False
     1. Re order period is after the the merchandise has been sold
     2. T/F
        High performing retailers compete on the basis of price rather than value?
     3. WHich of the following businesses is not a major warehouse club?
     4. In determining planned purchases which is added to sales?
165. Consumer incomes
     1. Psychographic trends are related to all of the following except
     2. Benefits of direc marketing for consumers include all the following except:
     3. Benefits that vendor owned stores offer for themselves?
     4. Being overbought causes all of the following except?
166. Telemarketing
     1. Which of the following is not one of the emerging retailing formats?
     2. Is mass customization only in the apparel segment of retailing?
     3. In determining planned purchases which is added to sales?
     4. Which of the following best describes good marketing research?
167. False
     1. How do buyers recognize that the end is near for a fad?
     2. T/F
        Retail Buyers are undifferentiated target marketing by eleminating product categories.
     3. T/F
        The number of people who are going to be over 65 in a decade from now cannot be forecasted
     4. T/F
        Using past sales records to forecast sales is more reliable for basic merchandise than for fashion merchandising
168. Maintain markups increase
     1. Definition of a wholesaler
     2. Being overbought causes all of the following except?
     3. How often do most retailers do physical inventory?
     4. Developing a merchandising plan should increase all of the following except?
169. The buyers personal opinion/likes
     1. How often do most retailers do physical inventory?
     2. Which one of the four things should not factor into merchandise selections?
     3. Which of the following best describes good marketing research?
     4. Today in the United States the number of male homemakes is?
170. True
     1. T/F
        Comparing sales figures from this year with sales at the same time last year is an example of marketing research
     2. T/F
        Retailers look at baby boomers as a single market segment
     3. T/F
        A stores organizational structure will have little impact on how buying is conducted in that store
     4. T/F
        The number of people who are going to be over 65 in a decade from now cannot be forecasted