Question1

The U.S. Census survey is important because:

Group of answer choices

It is done every 10 years, so is always current and can be used exclusively when doing location planning.

It only surveys towns over 5000 people, which is where you would want to locate a business.

It surveys every U.S. household on a variety of demographic measures

Question2

Your successful coffee shop is ready to expand. You noticed a vacant space in an up and coming area of town. Why might you consider this a good long term site for your business?

Group of answer choices

If there are no other coffee shops in the area.

If the space is affordable and can easily be modified to meet your needs.

If the population trend in the area is toward a demographic that would support a coffee shop long term.

Questio3n

Brick and mortar, online, and hybrid retailers all share this major privacy issue:

Group of answer choices

fake ID's.

credit card fraud.

data breaches.

Question4

A retailer's profit formula is largely based on this important factor:

Group of answer choices

payroll costs.

government regulation.

inventory turnover.

Question5

These are all common customer retention techniques EXCEPT:

Group of answer choices

reward coupons generated at point-of-sale based on rewards membership.

reduced gasoline prices based on grocery purchases.

across-the-board discounts on the most popular items.

Question6

Tracking certification renewals and continuing education requirements may be tasked to:

Group of answer choices

The employees are responsible for tracking these themselves.

The managers should be tracking all of these and letting HR and the employees know when it is time to renew.

The human resources department as part of their employee development tasks.

Question7

Different positions may require different onboarding processes because:

Group of answer choices

Background and credit checks are required for all employees, regardless of position, but drug tests are only for some employees.

Labor laws differ for office workers and factory workers as far as safety and pay, so they will have different presentations.

Warehouse staff and accounting personnel may need different information in order to be effective in their new positions, so creating different processes that meet the needs of varying employees will make the onboarding process more effective.

Question8

Socially responsible business practices include:

Group of answer choices

Hiring as many women and minorities as possible, regardless of qualifications.

Creating a biased workforce.

Hiring a diverse workforce including people with disabilities, and of various races, religions and gender.

Question9

Human resources departments are also involved in marketing by:

Group of answer choices

Creating advertisements for the sale of products.

Having employees complete tax forms required for the payroll department.

Creating advertisements, either in an online format or print, preparing recruitment and job fairs and other means of finding qualified employees.

Question10

Training, promotions, special events and other incentives are ways for a company to:

Group of answer choices

Encourage employees to work more hours.

Encourage employees to limit their breaks.

Engage employees in their work and let them know they are appreciated.

Question11

"Beginning inventory" refers to:

Group of answer choices

the physical product on-hand and in-transit.

anticipated sales minus ending inventory.

the physical product on-hand at the start of the accounting period.

Question12

A -4.5% gross margin percentage would indicate.

Group of answer choices

the firm is not meeting its obligations.

the firm is accumulating gross margin dollars.

the firm is taking a loss.

Question13

Indirect compensation includes:

Group of answer choices

Wages and salaries

Bonuses and commissions.

Additional PTO, training and an onsite fitness center.

Question14

Certain certifications or licenses may be needed on all shifts at your retail location. This can be a scheduling nightmare. How can you insure smooth workflow and proper coverage?

Group of answer choices

Have everyone on staff get licensed or certified so you don't need to worry.

Schedule yourself on all shifts to insure compliance.

Have a list of all certifications or licenses and who holds them, and schedule these people, your start employees, first, then schedule around them.

Question15

A star employee may be one who can run the whole show, or has a great personality. As a manager it is easiest to:

Group of answer choices

Have this person work all of the shifts.

Work alongside this employee to insure that all work is completed.

Build your shifts around such an employee, so you know the rest of the staff will fall into place.

Question16

An application, interview and reference check:

Group of answer choices

Are not part of the screening process in retail.

Are the only steps in the screening process prior to a final decision.

Are typically performed in most screening processes.

Question17

Resources are an important part of creating quality onboarding and training programs and they can be obtained from:

Group of answer choices

By scouring the internet for hours.

Listening to lectures on how to do trainings.

The Society for Human Resource Management (SHRM) through membership.

Question18

How can inventories be kept on plan if a buyer misses the sales plan?

Group of answer choices

transfer merchandise between stores.

close the Open-To-Buy system.

control the flow of incoming merchandise.

Question19

To calculate OTB this formula is used:

Group of answer choices

EOP inventory plus sales, markdowns and BOP inventory.

BOP inventory plus sales and markdowns.

BOP Inventory minus sales, markdowns and EOP Inventory.

Question20

Merchandise management can be defined as:

Group of answer choices

process to offer the right direction to managers at the right time.

process to manage the merchandise in the right way.

process to offer the right quantity of the right product at the right price.

Question21

Markdown merchandise can be liquidated by:

Group of answer choices

Using third-party liquidators, using outlet stores, using flash sales.

Using a set process of price reduction over time, using third-party liquidators, using a closeout sale.

Using a set process of price reduction over time, using third-party liquidators, using outlet stores.

Question22

Break-even sales for fixed expenses of $10,000 at a gross margin percentage of 55% would be:

Group of answer choices

$23,500

$5,500

$18,182

Question23

An angular store layout features displays that take up a lot of space, so it's best for

Group of answer choices

A retailer that carries a lot of product and different types of merchandise

Allowing the cashier to keep an eye on merchandise and prevent shoplifting

Jewelry, high-end clothing, and other high-end products for which a retailer keeps a minimal inventory

Question24

A grid layout features some disadvantages, like poor line of sight and

Group of answer choices

Difficulty categorizing products

Its unfamiliarity to shoppers, because it's not a common layout

The need for frequent "visual breaks" to keep the shopper engaged

Question25

The grid layout helps retailers create easy-to-see promotions, which control costs because

Group of answer choices

He can put everything on sale and make more money

There's not a predictable customer traffic flow in a grid layout store

The manufacturer can "lease" that good space and help offset the cost of the discounted item

Question26

An appreciation of consumers' ________ is central to an IMC strategy.

Group of answer choices

shopping habits and internet usage.

attention span and media savvy.

active and passive media consumption.

Question27

The meaning of Search Engine Optimization (SEO) is:

Group of answer choices

paid advertising to prioritize a firm's visibility from an internet search results.

search engines like Google and Bing being included in every web page.

web development and optimization to ensure online visibility of a firm's website.

Question28

Customer service, regardless of the definition, is dependent on:

Group of answer choices

well-trained sales personnel.

the combination of good SEO and SEM.

meeting and exceeding the wants and needs of customers.

Question29

The service model's fifth gap, the "customer" gap, is attributed to:

Group of answer choices

mis-interpretation on the firm's side.

mis-interpretation on all sides.

mis-interpretation on the customer side.

Question30

The performance gap should be addressed by firms by the following EXCEPT:

Group of answer choices

cultivate a customer-centric team environment.

provide the appropriate product/service training.

hire only new employees with direct experience.