Question 1

A slotting fee is a form of _____.

Accepted Answer

A) manufacturer-based channel power 
B) retailer-based channel power 
C) channel cooperation 
D) promotional allowance 
A) manufacturer-based channel power 
B) retailer-based channel power 
C) channel cooperation 
D) promotional allowance

Question 2

Customer returns,product recalls,and deposit bottles all involve reverse logistics for the retailer.

Accepted Answer

A) True 
 B)False

Question 3

Inventory management planning is most difficult for _____.

Accepted Answer

A) staples 
B) fad products 
C) growing products 
D) mature products 
A) staples 
B) fad products 
C) growing products 
D) mature products

Question 4

Generally,costly one-of-a-kind merchandise is evaluated via inspection.

Accepted Answer

A) True 
 B)False

Question 5

A retailer reduces the amount of inventory it keeps on hand by ordering more frequently and in lower quantity through _____.

Accepted Answer

A) quick response inventory planning 
B) top-down inventory planning 
C) bottom-up inventory planning 
D) UPC-based computerized ordering systems 
A) quick response inventory planning 
B) top-down inventory planning 
C) bottom-up inventory planning 
D) UPC-based computerized ordering systems

Question 6

Prior to establishing a quick response (QR)inventory planning system,suppliers need to rethink their _____.

Accepted Answer

A) credit terms and quantity discount schedule 
B) quantity discount schedule and minimum order sizes 
C) purchase prices and minimum order sizes 
D) credit terms and minimum order sizes 
A) credit terms and quantity discount schedule 
B) quantity discount schedule and minimum order sizes 
C) purchase prices and minimum order sizes 
D) credit terms and minimum order sizes

Question 7

In a civil restitution law,_____.

Accepted Answer

A) shoplifters cannot plea bargain the minimum state sentence for their crime 
B) shoplifters must undertake community service as restitution for their crime 
C) shoplifters must pay for stolen merchandise or face arrests and criminal trials 
D) employees convicted of stealing merchandise must be registered with local police departments 
A) shoplifters cannot plea bargain the minimum state sentence for their crime 
B) shoplifters must undertake community service as restitution for their crime 
C) shoplifters must pay for stolen merchandise or face arrests and criminal trials 
D) employees convicted of stealing merchandise must be registered with local police departments

Question 8

Which of the following is not a cause of inventory shrinkage?

Accepted Answer

A) markdowns due to stale merchandise 
B) theft by employees 
C) shoplifting by consumers 
D) administrative errors by vendors (such as short weighing) 
A) markdowns due to stale merchandise 
B) theft by employees 
C) shoplifting by consumers 
D) administrative errors by vendors (such as short weighing)

Question 9

An advantage of maintaining a large inventory is _____.

Accepted Answer

A) customer satisfaction 
B) a high stock turnover rate 
C) fresh merchandise 
D) low insurance costs 
A) customer satisfaction 
B) a high stock turnover rate 
C) fresh merchandise 
D) low insurance costs

Question 10

Efficient consumer response (ECR)is an example of _____.

Accepted Answer

A) electronic data interchange 
B) floor-ready merchandise 
C) third-party logistics 
D) collaborative planning,forecasting,and replenishment 
A) electronic data interchange 
B) floor-ready merchandise 
C) third-party logistics 
D) collaborative planning,forecasting,and replenishment

Question 11

The major difference between a consignment purchase and a memorandum purchase is based on _____.

Accepted Answer

A) when title passes from seller to buyer 
B) when an item is paid for 
C) purchase price 
D) eligibility for cooperative advertising allowances 
A) when title passes from seller to buyer 
B) when an item is paid for 
C) purchase price 
D) eligibility for cooperative advertising allowances

Question 12

The use of RFID (radio frequency identification)is an alternative to the Universal Product Code (UPC).

Accepted Answer

A) True 
 B)False

Question 13

Data from want books,want slips,and competition shopping reports should be stored and accessed in a retail information system.

Accepted Answer

A) True 
 B)False

Question 14

A slotting allowance is a form of _____.

Accepted Answer

A) channel conflict 
B) short-run strategy by a manufacturer 
C) channel cooperation 
D) electronic data interchange 
A) channel conflict 
B) short-run strategy by a manufacturer 
C) channel cooperation 
D) electronic data interchange

Question 15

Description buying by a retailer is most appropriate for _____.

Accepted Answer

A) jewelry 
B) art 
C) antiques 
D) branded goods 
A) jewelry 
B) art 
C) antiques 
D) branded goods

Question 16

Ideally,quick response (QR)inventory planning should be used in conjunction with electronic data interchange (EDI)and floor-ready merchandise.

Accepted Answer

A) True 
 B)False

Question 17

Orders for merchandise in a quick response (QR)inventory system are generally made using negotiated contracts.

Accepted Answer

A) True 
 B)False

Question 18

A logistics system can be best defined as the _____.

Accepted Answer

A) reduction of inventory in a system through more rapid reordering of goods in lower quantities 
B) use of a paperless,computer-to-computer relationship between retailers and their vendors 
C) total process of planning,implementing,and coordinating the physical movement of merchandise from a manufacturer (wholesaler)to a customer in the most timely and cost-efficient manner possible 
D) acquisition and maintenance of a proper merchandise assortment while ordering,shipping,handling,and other related costs are kept in check 
A) reduction of inventory in a system through more rapid reordering of goods in lower quantities 
B) use of a paperless,computer-to-computer relationship between retailers and their vendors 
C) total process of planning,implementing,and coordinating the physical movement of merchandise from a manufacturer (wholesaler)to a customer in the most timely and cost-efficient manner possible 
D) acquisition and maintenance of a proper merchandise assortment while ordering,shipping,handling,and other related costs are kept in check

Question 19

A deduction from a bill made by a retailer due to such infractions as late shipping or improper labeling is called a _____.

Accepted Answer

A) penalty 
B) liquidated damage 
C) chargeback 
D) holdback 
A) penalty 
B) liquidated damage 
C) chargeback 
D) holdback

Question 20

The retailer does not pay for items until they are sold and can return merchandise _____.

Accepted Answer

A) when title is transferred on purchase 
B) when title is transferred when the shipment is received 
C) for all generics 
D) in a consignment purchase 
A) when title is transferred on purchase 
B) when title is transferred when the shipment is received 
C) for all generics 
D) in a consignment purchase

A slotting fee is a form of _____.

Customer returns,product recalls,and deposit bottles all involve reverse logistics for the retailer.

Inventory management planning is most difficult for _____.

Generally,costly one-of-a-kind merchandise is evaluated via inspection.

A retailer reduces the amount of inventory it keeps on hand by ordering more frequently and in lower quantity through _____.

Prior to establishing a quick response (QR)inventory planning system,suppliers need to rethink their _____.

In a civil restitution law,_____.

Which of the following is not a cause of inventory shrinkage?

An advantage of maintaining a large inventory is _____.

Efficient consumer response (ECR)is an example of _____.

The major difference between a consignment purchase and a memorandum purchase is based on _____.

The use of RFID (radio frequency identification)is an alternative to the Universal Product Code (UPC).

Data from want books,want slips,and competition shopping reports should be stored and accessed in a retail information system.

A slotting allowance is a form of _____.

Description buying by a retailer is most appropriate for _____.

Ideally,quick response (QR)inventory planning should be used in conjunction with electronic data interchange (EDI)and floor-ready merchandise.

Orders for merchandise in a quick response (QR)inventory system are generally made using negotiated contracts.

A logistics system can be best defined as the _____.

A deduction from a bill made by a retailer due to such infractions as late shipping or improper labeling is called a _____.

The retailer does not pay for items until they are sold and can return merchandise _____.

An Introduction to Retailing

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Retail Institutions by Ownership

Retail Institutions by Store-Based Strategy

Web, Nonstore-Based, and Other Forms of Nontraditional Retailing

Identifying and Understanding Consumers

Information Gathering and Processing in Retailing

Trading-Area Analysis

Site Selection

Retail Organization and Human Resource Management

Operations Management: Financial Dimensions

Operations Management: Operational Dimensions

Developing Merchandise Plans

Financial Merchandise Management

Pricing in Retailing

Establishing and Maintaining a Retail Image

Promotional Strategy

Integrating and Controlling the Retail Strategy

Filters

Exam 15: Implementing Merchandise

A slotting fee is a form of _____.

Customer returns,product recalls,and deposit bottles all involve reverse logistics for the retailer.

Inventory management planning is most difficult for _____.

Generally,costly one-of-a-kind merchandise is evaluated via inspection.

A retailer reduces the amount of inventory it keeps on hand by ordering more frequently and in lower quantity through _____.

Prior to establishing a quick response (QR)inventory planning system,suppliers need to rethink their _____.

In a civil restitution law,_____.

Which of the following is not a cause of inventory shrinkage?

An advantage of maintaining a large inventory is _____.

Efficient consumer response (ECR)is an example of _____.

The major difference between a consignment purchase and a memorandum purchase is based on _____.

The use of RFID (radio frequency identification)is an alternative to the Universal Product Code (UPC).

Data from want books,want slips,and competition shopping reports should be stored and accessed in a retail information system.

A slotting allowance is a form of _____.

Description buying by a retailer is most appropriate for _____.

Ideally,quick response (QR)inventory planning should be used in conjunction with electronic data interchange (EDI)and floor-ready merchandise.

Orders for merchandise in a quick response (QR)inventory system are generally made using negotiated contracts.

A logistics system can be best defined as the _____.

A deduction from a bill made by a retailer due to such infractions as late shipping or improper labeling is called a _____.

The retailer does not pay for items until they are sold and can return merchandise _____.

An Introduction to Retailing

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Retail Institutions by Ownership

Retail Institutions by Store-Based Strategy

Web, Nonstore-Based, and Other Forms of Nontraditional Retailing

Identifying and Understanding Consumers

Information Gathering and Processing in Retailing

Trading-Area Analysis

Site Selection

Retail Organization and Human Resource Management

Operations Management: Financial Dimensions

Operations Management: Operational Dimensions

Developing Merchandise Plans

Financial Merchandise Management

Pricing in Retailing

Establishing and Maintaining a Retail Image

Promotional Strategy

Integrating and Controlling the Retail Strategy

Filters