ONLY MCQS - NO EXPLANATION NEEDED

Part A

1)

These are the functions that allow retailers to offer a suitable range of merchandise at appropriate prices to meet their customers' needs, delivered at the right time in the right quantities.

12.5 Points

PLANNING AND RETAILING

ADVERTISING AND PROMOTING

BUYING AND MERCHANDISING

PROMOTE AND RE-SALE

2)

Consist of several suppliers in various countries, starting with suppliers of raw materials and ending with the retailer. Each company is therefore reliant on the previous links in the chain to be able to supply the retailer effectively.

12.5 Points

PROMOTE

SUPPLY CHAIN

RETAIL

ADVERTISE

3)

Is a form of organizational buyer behavior (OBB), and is distinct from consumer buyer behavior. However, it differs from OBB in that retailing operates in a business-to-consumer (B2C) capacity, rather than being a solely business-to-business (B2B) operation. As retailing is a service industry, it is necessary to purchase completed products to sell to consumers, rather than buying components for use in production. THIS IS.....

12.5 Points

RETAIL BUYING

ADVERTISING

PROMOTIONAL ACTIVITIES

MERCHANDISING

4)

Is through selecting goods from retail buying groups known as 'symbol groups' as they incorporate the group's symbol on the store fascia. While retaining their independence, small retailers can benefit from the bulk buying power of symbol groups that have international recognition, offering own-label products and support such as management training.

12.5 Points

IDENTIFICATION OF NEEDS

CENTRALIZED BUYING

BUYING BRANDED AND DESIGNER MERCHADISE

BUYING OWN LEVEL MERCHANDISE

5)

Is the term used by many retailers for the key events and processes that the buyers carry out in order to select a product range (Goworek, 2007). It has the main events chronologically. Not every retailer uses exactly this format but it is intended to be applicable to many different retail companies and it is likely that in even the smallest retailer many of the stages will be relevant.

12.5 Points

OWN LEVEL BUYERS

BUYING CYCLE

EVALUATION OF POTENTIAL PRODUCTS

MERCHANDISE

6)

After evaluating the range of merchandise and deciding which products to present at the final selection meeting, buyers can calculate figures such as the average selling price, average cost price, and average profit margin for the range. This can be a time-consuming activity that involves the compilation of a great deal of data,

12.5 Points

EVALUATION

PROMOTIONAL ACTIVITIES

MONITORING THE CRITICAL PATH

FINAL SELECTION

7)

The difference with buying for the home shopping (ONLINE) sector is that accurate product samples need to be available to be photographed in advance of the trading period.

12.5 Points

NEED TO BE PHOTOGRAPHED AFTER THE TRADING PERIOD

NEED TO BE SHIPPED IN ADVANCE OF THE TRADING PERIOD

NEED TO BE PURCHASED BY RETAILER AFTER THE TRADING PERIOD

NEED TO BE PHOTOGRAPHED IN ADVANCE OF THE TRADING PERIOD

8)

Retailers can deal directly with manufacturers (to purchase merchandise) but they are more likely to deal with ......

12.5 Points

FACTORIES MANAGEMENT

LOCAL BUSINESS

INTERMEDIARY

ANOTHER RETAILER

PART B

1)

Is a strategy to keep track of the entering,

cleaning, describing, and transforming of data. These data may have been collected through surveys or may be secondary data.

9.09 Points

VARIABLE

MISSING DATA

WORKFLOW

INTERVIEWER FRAUD

2)

This are values that differ totally from all the other

observations and they can influence results substantially. Depending on the source of their uniqueness, they can be classified into three categories: - The first type is produced by data collection or entry errors.

For example, if we ask people to indicate their household income in thousands of US dollars, some respondents may just indicate theirs in US dollars (not thousands). THIS IS....

9.09 Points

ENTER DATA

VARIABLE

CLEAR DATA

OUTLIERS

3)

This Should be clear and short so that they can be read in the

dialog boxes. For example, if you have three questions on product satisfaction, three on loyalty, and several descriptors (age and gender), you could code these as satisfaction1-satisfaction3, loyalty1-loyalty3, age, and gender. THIS IS....

9.09 Points

VARIABLES

SPSS

INTERVIEWER FRAUD

OUTLIERS

4)

When data are entered manually, this s occurs routinely. Fortunately, such are easy to spot if they occur outside the variable's range. That is, if an item is measured using a 7-point scale, the lowest value should be 1 (or 0) and the highest 7 (or 6). Using descriptive statistics (minimum, maximum, and range; we can check if this is true. Data entry errors should always be corrected by going back to the original survey.

9.09 Points

DATA ENTRY ERRORS

BIVARIATE DETECTIONS

VARIABLE

SPSS

5)

BARCHART Is an example of univariate graphs and tables

9.09 Points

True

False

6)

HISTOGRAM Is an example of univariate graphs and tables

9.09 Points

True

False

7)

The frequency table Is an example of univariate graphs and tables

9.09 Points

True

False

8)

They are known also as central tendency. They are statistical indices of a "typical" or "average" score. There are three main types are

- Mode,

- Median, and

- Mean. THIS IS...

9.09 Points

MEASURES OF CENTRALITY

BIVARIATE GRAPHS AND TABLES

BIVARIATE STATISTICS

MEASURES OF DISPERSION

9)

Involves the analysis of two variables in order to determine the

empirical relationship between them. There are two key measures that indicate (linear) associations between two variables,

- Covariance, and

- Correlation. THIS IS....

9.09 Points

BIVARIATE STATISTICS

MEASURES OF CENTRALITY

MEASURES OF DISPERSION

UNIVARIATE STATISTICS