What is an advantage of selling consumable items?

They tend to generate repeat business

Which is an example of specialty media?

T-shirts with a store logo on them

What is a "hard bounce"?

Email returned bc an address does not exist/has been closed

What is a loyalty program?

Any kind of marketing strategy that creates loyal customers

What did the CAN-SPAM Act of 2003 do?

Require "unsubscribe" links in all marketing emails

What is a great advantage of an internal list?

It contains names & emails voluntarily supplied by customers

What types of businesses generally prefer freestanding locations?

Big-box retailers such as Home Depot

How are promotional budgets normally determined?

By using a percentage of a business's net sales

Business that sells merchandise to retail stores for resale

What are "price points"?

The typical selling prices at which goods are sold

What do equal opportunity employment laws do?

Protect employees from discrimination

What is meant by "promotional mix"?

The combination of the types of promotion a business uses

What do employee compensation laws do?

Determine minimum wages, 40-hour work week, & overtime pay

What are "loss leaders" designed to do?

Attract more customers to come into the store

What does "total opens" measure?

The recipients who actually open your marketing email

What is "staffing level"?

The number of workers assigned to jobs at a particular time

Which of the following is not part of the process of checking in stock?

Arranging goods on a display rack

What is a "business district"?

Unenclosed shopping area developed w/o much planning

Which of the following is NOT something a potential employee needs to know before being hired?

Must memorize the entire product line

Which of the following is the best example of a loyalty program?

A "buy nine, get the tenth one free" punch card

Staple merchandise is usually placed where?

In a permanent location, often in the rear of the store

Which question is an example of quantitative market research?

How many time's did you purchase this product in the past

Which of the following is an example of sales promotion?

A flyer filled with coupons for discounts on merchandise

Which best describes "consultative selling"?

Working with a customer to determine his or her needs

studbud

Entrepreneurship I Review

90 termsStudBud Administration41 plays

Flashcards90 cardsFPractice quizPHost liveL

Questions 90

Answers

1
What is an advantage of selling consumable items?
They tend to generate repeat business
They do not need refrigeration
They typically have a large profit margin
They are long-lasting
2
Which is an example of specialty media?
T-shirts with a store logo on them
A "midnight madness" sale
A satellite television ad
3
What is a "hard bounce"?
A method of sending emails anonymously
An email address is forcibly directed to the recipient
An email sales technique that often doubles a response rate
Email returned bc an address does not exist/has been closed
4
What is a loyalty program?
Any kind of marketing strategy that creates loyal customers
A program in where businesses donate money to the community
An advertising campaign that focuses on national values
5
Which is not a secondary consideration when locating a retail store?
Possibilities for expansion
Availability of workers
Zoning laws
Access to good schools
6
True or false: When a price is set too low, customers might think the product is defective.
False
True
7
What did the CAN-SPAM Act of 2003 do?
Require that all email marketers be American citizens
Require "unsubscribe" links in all marketing emails
Require that email messages delete themselves after 30 days
8
Where is a POP display often set up?
In the front of a store
In the back of a store
On the sidewalk
9
Which of the following would be considered a good response rate for an email campaign?
1 percent
5 percent
All of the above
20 percent
10
Which product has the highest "consumability"?
A chest freezer
A loaf of bread
An iPad
A plasma TV
11
What is a great advantage of an internal list?
It naturally targets customers with the most money
It contains names & emails voluntarily supplied by customers
It can be compiled in just a matter of hours
It contains names from around the country and even the world
12
What types of businesses generally prefer freestanding locations?
Small mom-and-pop retailers
Big-box retailers such as Home Depot
Nail salons
13
Which of the following might be considered an impulse purchase?
A loaf of bread
A candy bar
A bag of pink grapefruit
A new computer printer
14
Newspapers, magazines, and direct mail are all examples of what?
Print media
National institutions
Alternative media
Broadcast media
15
The goal of a promotion should be what?
To impress local politicians
Specific and clearly stated
Decided after the promotion has ended
16
How are promotional budgets normally determined?
By using a percentage of a business's net sales
By budgeting just a little bit more than the competition
By using an estimate of expected future sales
17
What is a "vendor"?
Business that sells merchandise to retail stores for resale
Any automated sales process that needs no human interaction
The head cashier in a store
18
What are "price points"?
The practice of listing all prices so they end in ".99"
The typical selling prices at which goods are sold
Incentive programs that encourage customers to spend more
19
What do equal opportunity employment laws do?
Guarantee vacation days for everybody
Protect employees from discrimination
Guarantee the same number of hours to each employee
20
Which of the following is the responsibility of a vendor?
Properly displaying merchandise
Marking products with the correct prices
Ensuring perishable goods are sold quickly
Delivering merchandise on time
21
An understaffed store may become a target for what?
Deal-seekers
Panhandlers
Tax audit
Shoplifters
22
When offering a job to an applicant, what should the manager and new hire mutually agree upon?
The next year's vacation schedule
The starting date
The date for the holiday party
The break schedule
23
What is meant by "promotional mix"?
The combination of the types of promotion a business uses
A set of key words all successful ad campaigns should use
A staggered schedule of ads airing at different times of day
24
In a triple net lease, who pays for property maintenance?
The tenant
A third-party contractor
The landlord
25
Which is typically perceived as one of the main advantages of a big-box retailer?
Convenient downtown locations
Personalized customer service
Low prices
26
What do employee compensation laws do?
Provide transportation to workers without their own car
Guarantee income in case of injury
Determine minimum wages, 40-hour work week, & overtime pay
27
What are "loss leaders" designed to do?
Attract more customers to come into the store
Reduce a store's tax burden
Drive competitors out of business
Keep advertising budgets under control
28
True or false: Secondary data is often gathered before primary data.
True
False
29
Is secondary data generally more expensive or less expensive than primary data?
More
Less
30
Advertising a low-priced product in order to lure customers into buying a high-priced product
Phishing
Bait and switch
Promotional mix
A shell game
31
What does "total opens" measure?
The recipients who actually open your marketing email
The customers who come to your store on the day of a sale
The number of customers who sign a purchase agreement
32
What is "staffing level"?
Assigning the same number of workers to each department
The rank above cashier
The educational level attained by employees of a business
The number of workers assigned to jobs at a particular time
33
Which of the following is not part of the process of checking in stock?
Ensuring stock is in good condition
Arranging goods on a display rack
Reviewing expiration dates of perishable goods
34
What is a loop layout designed to make customers do?
Buy several of the same item
Arrive at a shelf with overstock inventory
See the most merchandise
35
Which of the following is NOT a necessary trait of a good employee?
Tidy appearance
Lives nearby
Willingness to accept direction
Good communication skills
36
What is a "business district"?
Unenclosed shopping area developed w/o much planning
It's the IRS's term for "shopping mall"
Any group of 3 or more businesses adjacent to one another
37
Who usually provides POP displays?
The government
Manufacturers
Trade groups
Retailers
38
Which of the following is NOT something a potential employee needs to know before being hired?
The number of hours to be worked
The job description
Must memorize the entire product line
The wages
39
In a retail business, what number do you get by subtracting an item's cost from its price?
Margin
Discount
Profit
Overhead
40
What is a disadvantage of using a large sample size?
Tax liabilities
Increased expense
Privacy concerns
Less accuracy
41
Which of the following items is NOT perishable?
Batteries
Paper towels
Eggs
Meat
42
Of fixed-rate, percentage, and tnl which makes financial planning easiest for a business owner?
Triple net
Percentage
Fixed-rate
43
Which of the following is the best example of a loyalty program?
A shelf where heavily discounted items are placed
A "buy nine, get the tenth one free" punch card
An end-of-year clearance sale
44
What is the primary purpose of fixtures?
To display merchandise
To provide good lighting
45
Staple merchandise is usually placed where?
Outside the front door
By the cash registers
On a bottom shelf
In a permanent location, often in the rear of the store
46
Which is NOT a symptom of an understaffed store?
Poor stock maintenance
Closed cash registers
Customers using credit cards
Unhappy customers
47
In the context of retail, which of the following means the same as "stock"?
Headroom
Common
Inventory
Floor space
48
A smart store layout moves customers in and out as fast as possible.
True
False
49
Which question is an example of quantitative market research?
Why did you buy this product?
How did you hear of our product?
How many time's did you purchase this product in the past
50
Which of the following is an example of sales promotion?
A radio ad thanking customers for their continued support
A flyer filled with coupons for discounts on merchandise
A press release announcing a new store opening
51
Which best describes "consultative selling"?
Offering only one kind of each product
Working with a customer to determine his or her needs
Using the latest research to redesign a floor plan
52
In a sliding scale % lease, what usually happens to the amount of rent paid as sales go up?
Nothing
It goes down as a percentage of sale
It goes up as a percentage of sales
53
What are the two main sources of data?
Government/private sector
Computer/real world
Primary/secondary
54
Long lines are an indication of what?
Too many people writing checks
Understaffing
Prices that are too low
Disgruntled employees
55
What is a common way retailers measure store productivity?
By word of mouth
Customer surveys
Sales per square foot
56
What does stock turnover measure?
The size of a product's packaging
How often stock is sold during a given time period
The sales tax due for each item
The ease with which merchandise can be placed on shelves
57
What does a vendor's invoice typically list?
The dates by which perishable goods must be sold
Upcoming specials
The minimum retail sales prices
The items and quantities in a delivery
58
What is an internal email list?
One that is kept only on one computer for extra security
One that was generated by the business itself
One that was generated from IRS data
59
True or false: In retailing, "product" and "merchandise" are used interchangeably.
False
True
60
A grocery store would most likely use which type of layout?
Grid
Random
Loop
Free flow
61
What is one of the two main ways businesses usually create an address list?
purchasing a list from a third party
collecting addresses on their own
By word of mouth and by asking friends and family
By using government data and market research
62
Which of the following is NOT a type of inventory system?
Virtual
Perpetual
Physical
63
When supply goes down and/or consumer demand goes up, what usually happens to the price?
It rises
Nothing
It drops
64
What did the Sherman Antitrust Act outlaw?
Counterfeit money
Deceptive advertising
Black-market goods
Monopolies and price fixing
65
What is a store's "open-to-buy"?
A real estate term indicating that a business is up for sale
A spreadsheet listing all unsold merchandise
The number of hours a week that customers can come to shop
The amount of money available for purchasing new inventory
66
Which is NOT a source of secondary data?
Federal government
A business's own Facebook survey
Past sales records
Trade associations
67
Which is an example of how a small store might best compete with a large, big-box chain?
By offering in-store workshops
By selling at a loss
By moving into a location across the street
68
What is a "complementary" business?
A retailer that sells related merchandise as one's own store
A business plan that focuses on customer service
A retailer that helps customers look good
69
What is meant by "trade area"?
It's the physical space where the cash registers are located
It's a business's geographic surroundings
It's the type of item a store specializes in selling
70
What are the two main factors a retail business must strike a compromise between for price. ?
Advertising budget and cost of ads
Location and value
Quality and quantity
Reasonable margin and customers' willingness to pay
71
Who is usually involved in personal selling?
Customers
A business owner's family and friends
A radio executive
A store's sales associates
72
What is "institutional promotion"?
Promotion aimed at schools
Promotion meant to heighten a store's image
Promotion that does not use the Internet
73
What is just-in-time inventory control designed to do?
Reduce the amount of inventory a store must keep on hand
Cut down on merchandise lost to theft
Minimize time spent restocking shelves
Eliminate wasteful packaging
74
What is a "markdown"?
A price reduction in order to boost the number of sales
The sticker on the package stating the price
Another name for taking inventory
A special tax-exempt item
75
Which of the following items is the least seasonal?
Whole turkey
Swimsuit
Bottled water
Snowboard
76
Of fixed-rate, percentage, and triple net leases, which is used least often?
Fixed-rate
Triple net
Percentage
77
What is the main reason a business might use a third-party list?
It is difficult to collect a large number of email addresses
They are much cheaper
Customers are more likely to read any emails they receive
78
Which is NOT one of the five steps in conducting market research?
Apply for government funding
Obtain data
Apply for government funding
Choose the best solution
79
What is a focus group?
Elite consumers chosen for their trend-setting taste
A set of retail outlets designated as test stores
small group of people who provide opinions
80
A question beginning with "how" or "why" is usually what type of research question?
Proprietary
Qualitative
Binary
Secondary
81
To a retail business owner, what is "cost"?
The selling price
The environmental damage caused by the store
The amount paid to suppliers for merchandise
82
Which of the following is NOT a type of store layout?
Grid
Spine
Runway
Loop
83
What is "market share"?
The price of a store's shares on the stock market
The % a store has of the total sales in its trading area
The amount of floor space a retail store has
The shelf space a store devotes to any particular product
84
Which is not a critical consideration when choosing a location for a retail store?
Convenience
Traffic
Visibility
Nearby police station
85
Which government agency is in charge of enforcing advertising laws?
The US Chamber of Commerce
The SEC
The Federal Trade Commission
The Justice Department
86
What did the Clayton Antitrust Act of 1914 and the Robinson-Patman Act of 1936 outlaw?
Undercutting the competition
Pre-Thanksgiving sales
Collusion
Price discrimination
87
Which is NOT a use for market research?
Identifying what services customers want
Forecasting sales
Deciding what merchandise to sell
Determining tax deductions
88
What does a store's buyer do?
Purchases merchandise to sell
Keeps track of competitors' prices
Tests the effectiveness of a store's sales force as shopper
89
What are two advantages of highly marketable items?
Easy to sell and attract lots of customers to the store
Always have high profit margins and are easy to get in stock
They wear out quickly and need to be replaced often
90
How do managers deal with overstaffing problems?
By canceling ad campaigns
By making full-time positions part-time
By selling the store
By cutting back store hours

Entrepreneurship I Review Flashcards | StudBud

Entrepreneurship I Review

90 termsStudBud Administration41 plays

Entrepreneurship I Review

Flashcards90 cardsFPractice quizPHost liveL

Questions 90

Answers

1
What is an advantage of selling consumable items?
They tend to generate repeat business
They do not need refrigeration
They typically have a large profit margin
They are long-lasting
2
Which is an example of specialty media?
T-shirts with a store logo on them
A "midnight madness" sale
A satellite television ad
3
What is a "hard bounce"?
A method of sending emails anonymously
An email address is forcibly directed to the recipient
An email sales technique that often doubles a response rate
Email returned bc an address does not exist/has been closed
4
What is a loyalty program?
Any kind of marketing strategy that creates loyal customers
A program in where businesses donate money to the community
An advertising campaign that focuses on national values
5
Which is not a secondary consideration when locating a retail store?
Possibilities for expansion
Availability of workers
Zoning laws
Access to good schools
6
True or false: When a price is set too low, customers might think the product is defective.
False
True
7
What did the CAN-SPAM Act of 2003 do?
Require that all email marketers be American citizens
Require "unsubscribe" links in all marketing emails
Require that email messages delete themselves after 30 days
8
Where is a POP display often set up?
In the front of a store
In the back of a store
On the sidewalk
9
Which of the following would be considered a good response rate for an email campaign?
1 percent
5 percent
All of the above
20 percent
10
Which product has the highest "consumability"?
A chest freezer
A loaf of bread
An iPad
A plasma TV
11
What is a great advantage of an internal list?
It naturally targets customers with the most money
It contains names & emails voluntarily supplied by customers
It can be compiled in just a matter of hours
It contains names from around the country and even the world
12
What types of businesses generally prefer freestanding locations?
Small mom-and-pop retailers
Big-box retailers such as Home Depot
Nail salons
13
Which of the following might be considered an impulse purchase?
A loaf of bread
A candy bar
A bag of pink grapefruit
A new computer printer
14
Newspapers, magazines, and direct mail are all examples of what?
Print media
National institutions
Alternative media
Broadcast media
15
The goal of a promotion should be what?
To impress local politicians
Specific and clearly stated
Decided after the promotion has ended
16
How are promotional budgets normally determined?
By using a percentage of a business's net sales
By budgeting just a little bit more than the competition
By using an estimate of expected future sales
17
What is a "vendor"?
Business that sells merchandise to retail stores for resale
Any automated sales process that needs no human interaction
The head cashier in a store
18
What are "price points"?
The practice of listing all prices so they end in ".99"
The typical selling prices at which goods are sold
Incentive programs that encourage customers to spend more
19
What do equal opportunity employment laws do?
Guarantee vacation days for everybody
Protect employees from discrimination
Guarantee the same number of hours to each employee
20
Which of the following is the responsibility of a vendor?
Properly displaying merchandise
Marking products with the correct prices
Ensuring perishable goods are sold quickly
Delivering merchandise on time
21
An understaffed store may become a target for what?
Deal-seekers
Panhandlers
Tax audit
Shoplifters
22
When offering a job to an applicant, what should the manager and new hire mutually agree upon?
The next year's vacation schedule
The starting date
The date for the holiday party
The break schedule
23
What is meant by "promotional mix"?
The combination of the types of promotion a business uses
A set of key words all successful ad campaigns should use
A staggered schedule of ads airing at different times of day
24
In a triple net lease, who pays for property maintenance?
The tenant
A third-party contractor
The landlord
25
Which is typically perceived as one of the main advantages of a big-box retailer?
Convenient downtown locations
Personalized customer service
Low prices
26
What do employee compensation laws do?
Provide transportation to workers without their own car
Guarantee income in case of injury
Determine minimum wages, 40-hour work week, & overtime pay
27
What are "loss leaders" designed to do?
Attract more customers to come into the store
Reduce a store's tax burden
Drive competitors out of business
Keep advertising budgets under control
28
True or false: Secondary data is often gathered before primary data.
True
False
29
Is secondary data generally more expensive or less expensive than primary data?
More
Less
30
Advertising a low-priced product in order to lure customers into buying a high-priced product
Phishing
Bait and switch
Promotional mix
A shell game
31
What does "total opens" measure?
The recipients who actually open your marketing email
The customers who come to your store on the day of a sale
The number of customers who sign a purchase agreement
32
What is "staffing level"?
Assigning the same number of workers to each department
The rank above cashier
The educational level attained by employees of a business
The number of workers assigned to jobs at a particular time
33
Which of the following is not part of the process of checking in stock?
Ensuring stock is in good condition
Arranging goods on a display rack
Reviewing expiration dates of perishable goods
34
What is a loop layout designed to make customers do?
Buy several of the same item
Arrive at a shelf with overstock inventory
See the most merchandise
35
Which of the following is NOT a necessary trait of a good employee?
Tidy appearance
Lives nearby
Willingness to accept direction
Good communication skills
36
What is a "business district"?
Unenclosed shopping area developed w/o much planning
It's the IRS's term for "shopping mall"
Any group of 3 or more businesses adjacent to one another
37
Who usually provides POP displays?
The government
Manufacturers
Trade groups
Retailers
38
Which of the following is NOT something a potential employee needs to know before being hired?
The number of hours to be worked
The job description
Must memorize the entire product line
The wages
39
In a retail business, what number do you get by subtracting an item's cost from its price?
Margin
Discount
Profit
Overhead
40
What is a disadvantage of using a large sample size?
Tax liabilities
Increased expense
Privacy concerns
Less accuracy
41
Which of the following items is NOT perishable?
Batteries
Paper towels
Eggs
Meat
42
Of fixed-rate, percentage, and tnl which makes financial planning easiest for a business owner?
Triple net
Percentage
Fixed-rate
43
Which of the following is the best example of a loyalty program?
A shelf where heavily discounted items are placed
A "buy nine, get the tenth one free" punch card
An end-of-year clearance sale
44
What is the primary purpose of fixtures?
To display merchandise
To provide good lighting
45
Staple merchandise is usually placed where?
Outside the front door
By the cash registers
On a bottom shelf
In a permanent location, often in the rear of the store
46
Which is NOT a symptom of an understaffed store?
Poor stock maintenance
Closed cash registers
Customers using credit cards
Unhappy customers
47
In the context of retail, which of the following means the same as "stock"?
Headroom
Common
Inventory
Floor space
48
A smart store layout moves customers in and out as fast as possible.
True
False
49
Which question is an example of quantitative market research?
Why did you buy this product?
How did you hear of our product?
How many time's did you purchase this product in the past
50
Which of the following is an example of sales promotion?
A radio ad thanking customers for their continued support
A flyer filled with coupons for discounts on merchandise
A press release announcing a new store opening
51
Which best describes "consultative selling"?
Offering only one kind of each product
Working with a customer to determine his or her needs
Using the latest research to redesign a floor plan
52
In a sliding scale % lease, what usually happens to the amount of rent paid as sales go up?
Nothing
It goes down as a percentage of sale
It goes up as a percentage of sales
53
What are the two main sources of data?
Government/private sector
Computer/real world
Primary/secondary
54
Long lines are an indication of what?
Too many people writing checks
Understaffing
Prices that are too low
Disgruntled employees
55
What is a common way retailers measure store productivity?
By word of mouth
Customer surveys
Sales per square foot
56
What does stock turnover measure?
The size of a product's packaging
How often stock is sold during a given time period
The sales tax due for each item
The ease with which merchandise can be placed on shelves
57
What does a vendor's invoice typically list?
The dates by which perishable goods must be sold
Upcoming specials
The minimum retail sales prices
The items and quantities in a delivery
58
What is an internal email list?
One that is kept only on one computer for extra security
One that was generated by the business itself
One that was generated from IRS data
59
True or false: In retailing, "product" and "merchandise" are used interchangeably.
False
True
60
A grocery store would most likely use which type of layout?
Grid
Random
Loop
Free flow
61
What is one of the two main ways businesses usually create an address list?
purchasing a list from a third party
collecting addresses on their own
By word of mouth and by asking friends and family
By using government data and market research
62
Which of the following is NOT a type of inventory system?
Virtual
Perpetual
Physical
63
When supply goes down and/or consumer demand goes up, what usually happens to the price?
It rises
Nothing
It drops
64
What did the Sherman Antitrust Act outlaw?
Counterfeit money
Deceptive advertising
Black-market goods
Monopolies and price fixing
65
What is a store's "open-to-buy"?
A real estate term indicating that a business is up for sale
A spreadsheet listing all unsold merchandise
The number of hours a week that customers can come to shop
The amount of money available for purchasing new inventory
66
Which is NOT a source of secondary data?
Federal government
A business's own Facebook survey
Past sales records
Trade associations
67
Which is an example of how a small store might best compete with a large, big-box chain?
By offering in-store workshops
By selling at a loss
By moving into a location across the street
68
What is a "complementary" business?
A retailer that sells related merchandise as one's own store
A business plan that focuses on customer service
A retailer that helps customers look good
69
What is meant by "trade area"?
It's the physical space where the cash registers are located
It's a business's geographic surroundings
It's the type of item a store specializes in selling
70
What are the two main factors a retail business must strike a compromise between for price. ?
Advertising budget and cost of ads
Location and value
Quality and quantity
Reasonable margin and customers' willingness to pay
71
Who is usually involved in personal selling?
Customers
A business owner's family and friends
A radio executive
A store's sales associates
72
What is "institutional promotion"?
Promotion aimed at schools
Promotion meant to heighten a store's image
Promotion that does not use the Internet
73
What is just-in-time inventory control designed to do?
Reduce the amount of inventory a store must keep on hand
Cut down on merchandise lost to theft
Minimize time spent restocking shelves
Eliminate wasteful packaging
74
What is a "markdown"?
A price reduction in order to boost the number of sales
The sticker on the package stating the price
Another name for taking inventory
A special tax-exempt item
75
Which of the following items is the least seasonal?
Whole turkey
Swimsuit
Bottled water
Snowboard
76
Of fixed-rate, percentage, and triple net leases, which is used least often?
Fixed-rate
Triple net
Percentage
77
What is the main reason a business might use a third-party list?
It is difficult to collect a large number of email addresses
They are much cheaper
Customers are more likely to read any emails they receive
78
Which is NOT one of the five steps in conducting market research?
Apply for government funding
Obtain data
Apply for government funding
Choose the best solution
79
What is a focus group?
Elite consumers chosen for their trend-setting taste
A set of retail outlets designated as test stores
small group of people who provide opinions
80
A question beginning with "how" or "why" is usually what type of research question?
Proprietary
Qualitative
Binary
Secondary
81
To a retail business owner, what is "cost"?
The selling price
The environmental damage caused by the store
The amount paid to suppliers for merchandise
82
Which of the following is NOT a type of store layout?
Grid
Spine
Runway
Loop
83
What is "market share"?
The price of a store's shares on the stock market
The % a store has of the total sales in its trading area
The amount of floor space a retail store has
The shelf space a store devotes to any particular product
84
Which is not a critical consideration when choosing a location for a retail store?
Convenience
Traffic
Visibility
Nearby police station
85
Which government agency is in charge of enforcing advertising laws?
The US Chamber of Commerce
The SEC
The Federal Trade Commission
The Justice Department
86
What did the Clayton Antitrust Act of 1914 and the Robinson-Patman Act of 1936 outlaw?
Undercutting the competition
Pre-Thanksgiving sales
Collusion
Price discrimination
87
Which is NOT a use for market research?
Identifying what services customers want
Forecasting sales
Deciding what merchandise to sell
Determining tax deductions
88
What does a store's buyer do?
Purchases merchandise to sell
Keeps track of competitors' prices
Tests the effectiveness of a store's sales force as shopper
89
What are two advantages of highly marketable items?
Easy to sell and attract lots of customers to the store
Always have high profit margins and are easy to get in stock
They wear out quickly and need to be replaced often
90
How do managers deal with overstaffing problems?
By canceling ad campaigns
By making full-time positions part-time
By selling the store
By cutting back store hours