MMP 107:

Retail Management

Module Test III

I. Matching Type.

A

a. Advertising

b. Brand

c. Brand Equity

d. Category Captain

e. Category Management

f. Integrated Marketing Communications

g. Merchandise Category

h. Online Marketing

i. Public Relations

j. Sales Promotions

k. Trademark

l. Websites

B

_____ 1. It is a distinguishing name or symbol, such as a logo, that identifies the products or services offered by a seller and differentiates those products and services from the offerings of competitors.

_____ 2. It is the strategic integration of multiple means of communicating with target markets to form a comprehensive and consistent message.

_____ 3. It is the value that a brand image offers retailers.

_____ 4. It is the basic unit of analysis for making merchandising management decisions. It is also an assortment of items that customers see as substitutes for one another.

_____ 5. It is the process of managing a retail business with the objective of maximizing the sales and profits of the entire category, not just a particular brand.

_____ 6. He works with the retailer to develop a better understanding of shopping behavior, create assortments that satisfy consumer needs, and improve the profitability of the merchandise category.

_____ 7. It can be defined as any paid form of non-personal presentation and communication through mass media. It is popularly believed that one of the main aims of this is to sell to a wide mix of consumers and also to induce repeat purchases.

_____ 8. Theseare special incentivesor excitement-building programsthat encourage consumers to purchase a particular product or service. They are typically used in conjunction with other advertising or personal selling programs. Examples of these are coupons, rebates, premiums (prize or award), samples, point-of-purchase (POP) displays, special events, and pop-up stores.

_____ 9. It involves managing communications and relationships to achieve various objectives, such as building and maintaining a positive image of the retailer, handling or heading off unfavorable stories or events, maintaining positive relationships with the media.

_____ 10. This includes online media vehicles with which customers can interact. Examples are Websites, blogs, and social media.

II. Multiple Choice.

_____ 1. It is the process by which a retailer attempts to offer the right quantity of the right merchandise in the right place at the right time and meet the company's financial goals.

1. Merchandise Management
2. Retail Communication Mix
3. Retail Marketing Strategy
4. Retail Pricing Policy

_____ 2. It is a group of items targeting the same customer type, such as girls' sizes 4 to 6.

1. Category

2. Classification

3.Department

4. Merchandise Group

_____ 3. These are managed by divisional merchandise managers (DMMs).

1. Category
2. Classification
3. Department
4. Merchandise Group

_____ 4. This is thehighest classification level.It is managedby a generalmerchandise manager (GMM), who is often a senior vice president in the firm.

1. Category
2. Classification
3. Department
4. Merchandise Group

_____ 5. It is the value of a thing or service expressed in terms of money.

1. Positioning
2. Price
3. Product
4. Promotion

_____ 6. It is a common strategy used by the smaller retail shops to avoid price wars and still maintain a decent profit. Some suppliers have minimum advertised prices but also suggest the retail pricing.

1. Discount Pricing
2. Manufacturer Suggested Retail Price (MSRP)
3. Multiple Pricing
4. Psychological Pricing

_____ 7. It is a method which involves selling more than one product for one price, such as three items for Php100.00.

1. Discount Pricing
2. b. Multiple Pricing
3. Psychological Pricing
4. Vendor Pricing

_____ 8. This includes coupons, rebates, seasonal prices and other promotional markdowns.

1. Discount Pricing
2. Multiple Pricing
3. Psychological Pricing
4. Vendor Pricing

_____ 9. It is used when prices are set to a certain level where the consumer

perceives the price to be fair. The most common method is odd-pricing using figures that end in 5, 7 or 9 For instance, instead of pricing a pair of shoes at Php400.00, the price is set at Php399.95. Or an umbrella may be priced at Php99.95, instead of Php100.00.

1. Keystone Pricing
2. Multiple Pricing
3. Psychological Pricing
4. Vendor Pricing

_____ 10. Retailers considering this kind of pricing strategy will need to provide outstanding customer service to stand above the competition.

1. Competitive Pricing
2. Keystone Pricing
3. Psychological Pricing
4. Vendor Pricing

_____ 11. Compute your cost of rental per square meter and consider this in the costing of an item. If you do not pay rentals because you own the place, use the amount that you would have paid if you were renting. This would force you to maximize your space utilization.

1. Proximity to competitors
2. Space requirements
3. Spoilage and special storage needs
4. Turnover of the item

_____ 12. If you are near competitors, take extra effort to have competitive prices. While you may be tempted to react to all threatening price moves, consider if you have only one store or if you have a chain.

1. Proximity to competitors
2. Space requirements
3. Spoilage and special storage needs
4. Turnover of the item

_____ 13. It is a communication process in which sales associates help customers satisfy their needs through face-to-face interaction. It is a form of offline/interactive communication.

1. Direct Marketing
2. Personal Selling
3. Public Relations
4. Sales Promotions

_____ 14. This is a direct communication with carefully targeted individual consumers to obtain an immediate response and cultivate lasting customer relationships by the use of mail, telephone, fax, e-mail, and mobile marketing.

1. Advertising
2. Direct Marketing
3. Personal Selling
4. Sales Promotions

_____ 15. These connect customers by forming a community; allow the company to respond directly to customers' comments and facilitate long-term relationships between customers and the company.

1. Blogs
2. Facebook
3. Social Media
4. Websites