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Retail Industry Flashcards | StudBud
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Retail Industry
Retail Industry
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1
When distribution team members use replenishment reports to retrieve quantities of items to be sent to stores they are
Sending
Packing
Mixing
Picking
2
After purchasing a new car, a customer is satisfied with the service received from the sales person, which phase?
Phase 2- Customer loyalty life cycle
Phase 3- Customer goes to the store to buy the item
Phase 1- Customer has a want/need
Phase 4- The customer likes or doesn't like their customer experiance
3
The customers current tv breaks before the super bowl. The customer planned a super bowl party and needs a tv, wutphase?
Phase 4 - The customer likes or doesn't like their customer experience
Phase 3 - Customer goes to the store to buy the item
Phase 1 - customer has a want/need
Phase 2 - customer loyalty life cycle
4
Which of the following does not cause inventory shrinkage?
Products stolen from the store by customers
Products stolen from the store by employees
Products damaged in the store
Products the retailer forgot to order
5
The measurement of how happy the customer is
customer satisfaction
product knowledge
product solutions
brand knowledge
6
Which is retail service?
New car
Car repair
New car tires
Car wash
7
In the customer loyalty life cycle, the customer has a want/need then considers purchasing options, what step is next?
Customer keeps shopping different places
Customer chooses a buying option
Customer purchases from the retailer again
Customer likes or does not like the buying experience
8
Which area in a retail store usually ensures compliance w labor laws, recruits, train new employees, process payroll,etc
Information Technology (IT)
Finance
Human Resources
Visual Merchandising
9
When working on a ladder, what's one thing you need to avoid in order to prevent falling?
Having a peer hold the ladder stable
Facing the ladder as you climb up and down
Using the top ladder as a step
Making sure the ladder is locked in position
10
During the selling process, you assess the needs and wants of the customer by asking yes or no questions
Open ended questions
Easy questions
Fast questions
Short questions
11
What constributes to a negative brand?
Spending a little more time with customers
Finding a way to go an extra step for customers
Knowing your customers backwards and forwards
Inconsistent attributes and behaviors
12
What common events could result in inventory shrinkage?
Retailer forgot to order products
Customers bought more inventory than the retailer planned
Product was stolen from the store
Retailer order too many products
13
The term for distributing merchandise from the manufacturers to retail locations is called
Receiving
Updating
Allocation
Refreshing
14
What does the R in SMART goal setting stand for?
Results oriented
Ready oriented
Routine
Ready
15
In the problem solving process, which step comes after Come Up With Solutions
Take action
Choose a solution
Define the problem
Finish your shift
16
Which of the following does OHSA require companies to do to help keep employees safe?
Hire safety hazard officers to protect employees
Provide accident insurance in case employees get hurt while working
Train employees how to respond when an accident occurs
Call the police whenever an accident occurs
17
Merchandise without an expiration date like electronics, tools and home goods typically have a longer
Run time
Shelf life
End date
Conclusion
18
Buys large quantities of product from manufacturers and sells them to to retailers
Warehouse
Wholesaler
Service seller
Franchiser
19
Which of the following key performance indicators can be used to measure whether all employees are reaching sales goals?
Profit made per sale
Number of sales per employee
Number of sales per day
Overall company growth
20
When you have key info about a company's products and services and use it to help customers
Product knowledge
Options
Intelligence
Limited info
21
Marketing programs - track purchase history, provide incentives to loyal customers
Tracking system
Marketing tricks
Customer apps
Loyalty programs
22
What tool can you use to help organize your time
Asking your boss to remind you
File folders
To do list
Ruler
23
In the problem solving process, which step comes before Take Action?
Define the problem
Come up with solutions
Finish your shift
Choose a solution
24
A large facility that manufactures send large quantities of product to then to be distributed to stores is called
Garage
Distibution Center
Store
Carton
25
When you respond to a challenge with optimism, helpfulness, encouragement, and/or excitement, you're demostarting:
Discipline
A positive attitude
Intelligence
A negative attitude
26
Which of the following is not part of the retailer's role in inventory management?
Ordering Product
Stocking Product
Receiving Product
Delivering Product
27
Which SMART goal element is missing from this goal "you must sell a lot of items today"
R - results oriented
T - time based
S - specific
A - achievable
28
Preventing injury and illness to customers and employees is called
workplace policies
workplace procedures
workplace safety
safe workers
29
A person or company that sells goods and or services to a customer
Seller
Retailer
Consumer
Customer
30
Who is responsible for making sure safety exits are NOT blocked and free in case of an emergency?
OHSA Officer
Retail Employee
Customer
Police Officer
31
Which of the following is most likely to be a role in a retail career?
Therapist
Buyer
Babysitter
Mechanic
32
What does the M in SMART stand for?
Memorable
Measurable
Managed
Monthly
33
Every morning you take a train to get to work early, today the train broke down. Define the problem.
You take the train to work
The train is broke down
You will be late
You need to get to work early
34
In the problem solving process, which steps comes after Define the Problem?
Take action
Come up with solutions
Choose a solution
Finish your shift
35
What item is a retail product?
Car tire repair
Car tire
Car tire installation
Car tire warranty
36
What does the T in SMART stand for
Temporary
Timid
Time based
Talent based
37
Planners, checklist, large calenders, and computer applications are used with which time management skill
Focus
Create
Prioritize
Organize
38
People who purchase goods or services
Visitors
Frequent flyers
Patients
Customers
39
In retail, COGS refers to
another word for profit
cost of goods sold
change given to customers
a way to measure sales
40
Collects, stores and processes date
Human Resources
IT
Visual Merchandising
Finance
41
Which of the following skills are the most helpful to a salesperson?
Quickness and accuracy
Creativity and judgement
Active listening and communication
Addition and subtraction
42
a company's goal is to earn $5 profit a day for every sale
Profit made per sale
Number of sales per employee
Company overall growth
Number of sales per day
43
Tuning out interruptions is an example of which time management skill?
Create
Prioritize
Focus
Organize
44
Recommending additional items that complement a purchase
Under selling
Cross selling
Mixed Selling
Up selling
45
The inventory term that describes the ability to scan large volumes of inventory or tagged items at a time
Radio Frequency Identification Device
Retail Federal ID
Retail Frequency ID
Retail Federation ID
46
Ensure compliance with labor laws, recruits, keeps records and processes payroll
Human Resources
Finance
Visual Merchandising
IT
47
In the customer service process, it's always important to greet the customer within
It's ok to not greet
30 seconds
Whenever you see them
5 minutes
48
Which item is a retail product?
fridge delivery
fridge repair
extended warranty
new fridge
49
According to the inventory life cycle, after a retailer receives products, the next step is
inventory is purchased
that the customer shops the store
that the retailer prices products
to display products
50
In the retail product cycle, what step comes after the distribution process?
Allocation
Distribution
Selling
Selection
51
Physical goods (that can be touched) that can be bought and sold
Services
Products
Commerce
Items
52
A company's image and reputation, how the world sees the product or company
inventory
logo
brand
value proposition
53
Which of the following key performance indicators can be used to measure whether each store is meeting sales goals?
Overall company growth
Number of sales per employee
Number of sales per store locations
Profit made per sale
54
When lifting, you should use what part of your body to do the most of the lifting?
Your legs
Your feet
Your arms
Your back
55
Choose the example of nonverbal communication
Words in an email
Correct spelling in a text message
Words in a phone call
Hand and body movements
56
A poor reaction to an idea or situation
beneficial skill
positive attitude
negative attitude
problem solving
57
Responsible for the production of finished products
Distributor
Driver
Manufacturer
Seller
58
What can decrease customer satisfaction?
a clean, safe, easy to shop location
long wait times at checkout
a good assortment of products and services
value for the dollar
59
The repetitive cycle that occurs with retailers in regard to product assortment
Clearance
The retail product cycle
Customer service
Telemarketing
60
In the problem solving process, which step comes after Choose a Solution?
Define the problem
Take action
Indentify Solutions
Pick a problem
61
Store sells 100g of milk in a wk so they purchase 100g of merch on the shelf. Sold out in 2 days and couldve sold more
Demand that meets or equals supply
More demand than supply
More supply than demand
More supply than demand
62
Retailers use technology in stores and online to
Limit production selection
Monitor all the places they are shopping
Prevent customers from shopping
Make tasks easier and faster to complete
63
What information should you expect to enter on a job application?
Hair color
Age
Names of family members
Education
64
A group of people that work together towards a shared purpose or common goal
huddle
team
meeting
group
65
What SMART goal is missing from this goal "You must stock 20boxes of products onto the shelves"
S - specific
T - timed based
M - measureable
A - achievable
66
Manages on site revenue generation, administration and expenses
Visual Merchandising
Finance
Human Resources
IT
67
Customer makes a purchase and their transaction total is $23.47. The customer pays with $40.00 cash. How much change?
$16.25
$16.34
$17.53
$16.53