Retail Management MCQ Questions and Answers Part – 1

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Retail Management MCQ Questions and Answers Part – 1

Retail Management MCQ Questions and Answers Part – 2

Retail Management MCQ Questions and Answers Part – 3

1. The word Retail is derived from the—— word.
A. Latin.
B. French.
C. English.
D. German.
ANSWER: A
2. Retailer is a person who sells the goods in a———.
A. large quantities.
B. small quantities.
C. both a & b.
D. none of these.
ANSWER: B
3. The main objective of the management is——–.
A. profitability.
B. sales growth.
C. return on investment
D. all of these.
ANSWER: D
4. In retailing there is a direct interaction with——-.
A. producer.
B. customer.
C. wholesaler.
D. all of these.
ANSWER: D
5. Retailing creates——-.
A. time utility.
B. place utility.
C. ownership utility.
D. all of these.
ANSWER: D
6. ———activities performed by the retailers.
A. assortment of offerings.
B. holding stock.
C. extending services.
D. all of these.
ANSWER: D
7. The term stakeholders which includes——-.
A. stock holders.
B. consumers.
C. suppliers.
D. all the above.
ANSWER: D
8. ——represents how a retailer is perceived by consumers and others.
A. image.
B. sales.
C. profit.
D. none of these.
ANSWER: A
9. The functions of management start with—–.
A. buying.
B. planning.
C. organizing.
D. supervising.
ANSWER: B
10. “Management is what a manager does” given by.
A. Henry fayol.
B. F.W.Taylor.
C. Dinkar Pagare.
D. none of these.
ANSWER: C
11. Human resource management process consists of ——.
A. recruitment.
B. selection.
C. training.
D. all of these.
ANSWER: D
12. —– is the process of seeking and attracting a pool of people from which qualified candidates for job
vacancies can be selected.
A. Selection.
B. Advertisement.
C. Compensation.
D. Recruitment.
ANSWER: D
13. —— gives the nature and requirements of specific jobs.
A. Human resource planning.
B. Job descriptions.
C. Job analysis.
D. None of these.
ANSWER: A
14. —— is a kind of internal sources of recruitment.
A. Promotion.
B. Employee recommendation.
C. Transfer.
D. All of these
ANSWER: D
15. Attracting potential employees is more difficult in case of ———.
A. internal recruitment.
B. external of recruitment.
C. both a & b
D. none of these.
ANSWER: B
16. —– is the next step after recruiting the retail personnel.
A. Supervision.
B. Compensation.
C. Training.
D. Selection.
ANSWER: D
17. —— test measure a persons capacity or potential capability to learn and perform a job.
A. Aptitude test.
B. Proficiency test.
C. Interest test.
D. Personality test.
ANSWER: A
18. A traditional format that sell 20-80 percent of groceries and other consumable product at discounted
prices
A. Dollar Store
B. Discounted stores
C. Chain store
D. off price store
ANSWER: A
19. —— component allow the retailer to offer the employees safety and security
A. Fixed component
B. Fringe benefit component
C. Variable component
D. All of the above.
ANSWER: B
20. ——- is the manner of providing a job environment that encourages employee’s accomplishment.
A. Compensation
B. Supervision.
C. Training
D. None of the above.
ANSWER: B
21. Store security relates to —-.
A. personal security
B. merchandise security.
C. both a & b.
D. none of these.
ANSWER: C
22. Form of payment which a retailer may accept is —-.
A. cash only.
B. cash &credit cards .
C. cash &debit cards.
D. all of these
ANSWER: D
23. Many retailers have improved their operation productivity through —–.
A. computerization.
B. outsourcing.
C. both a & b.
D. none of these.
ANSWER: A
24. The computerized check out is used by —–.
A. large retailers.
B. small retailers.
C. multi retailers
D. all of these.
ANSWER: A
25. With the help of——-a retailer pays an outsider party to undertake one or more of its operating
functions
A. outsourcing.
B. credit management
C. computerization.
D. none of these.
ANSWER: A
26. —— helps the retailers to face the crisis situations.
A. Risk management.
B. Credit management.
C. Financial management.
D. All of these
ANSWER: A
27. —— is a key task for both large &small retailers.
A. Risk management.
B. Crisis management.
C. Inventory management
D. All of these.
ANSWER: D
28. —— helps the retailers to complete the tasks within the short period of time.
A. Computerization.
B. Outsourcing.
C. Both 1 & 2.
D. None of these.
ANSWER: A
29. ———is a warning to potential thieves and muggers.
A. Insurance.
B. Security guards.
C. Outsourcing.
D. Credit management .
ANSWER: B
30. Insurance against——–is more important due to government rules.
A. environmental risk.
B. production risk.
C. both 1 & 2
D. none of these
ANSWER: A
31. The factor leading to the growth of retailing is —-.
A. changing consumer trends
B. technology.
C. demographics.
D. all the above.
ANSWER: D
32. Consumer buying process in retailing involves —-.
A. need recognition.
B. search for information.
C. evaluation of retailers.
D. all the above.
ANSWER: D
33. Atmosphere in retailing refers to —-.
A. the weather outside a store.
B. The ambience, music, color scent in a store.
C. assortment of products in the store.
D. display of items in a store.
ANSWER: B
34. E-tailing refers to —-.
A. sale of electronic items in a store.
B. catalog shopping.
C. music store.
D. retailing shopping using the inter.
ANSWER: D
35. A multi channel retailer sells merchandise —-.
A. over the telephone
B. through personal selling and retail store only.
C. over the internet .
D. through more than one channel.
ANSWER: D
36. Retailing is a marketing function which —-.
A. sells products to other business.
B. sells products to a company that resells them.
C. sells products to final consumers.
D. sells products for ones own use
ANSWER: C
37. The wheel of retailing explains the emergence of new retailing forms by —-.
A. retailers cycle through peaks of high cost price and troughs of low cost price.
B. whole sellers see retailing opportunity, enter retailing, then turn to wholesaling again.
C. new retailers emerge, grow, mature and decline.
D. low margin, low price retailers enter to compete with retailers who are high margin and high price.
ANSWER: D
38. All of the following are possible types of service that a retailer can offer except —-.
A. self service.
B. self selection.
C. limited service.
D. all of the above.
ANSWER: C
39. The correct statement about chain stores is —-.
A. they offer economic of scale in buying.
B. they can hire good managers.
C. they integrate wholesaling and retailing function.
D. they centralize function.
ANSWER: D
40. Which of the following objectives is concerned with strategic marketing planning?
A. Day to day performance and results.
B. Over-all long term organizational growth.
C. Identifying the strengths and weaknesses of the marketing department
D. None of the above.
ANSWER: B
41. Which sources of advantage will be helpful for a firm to achieve positional advantage over its
competitors?
A. Superior skills.
B. Superior resources.
C. Superior controls.
D. All of the above a, b and c.
ANSWER: D
42. What are the elements that a mission statement of an organization should include?
A. Sets guidelines for business operations
B. Identifies the reasons for existence of a company and its responsibilities to the stakeholders
C. Identifies the firms customers and their needs and marches them with products and services.
D. All of the above 1, 2 and c.
ANSWER: D
43. The term which is used to identify the major areas of business of a diversified organization is.
A. Business area.
B. Business segment, group or diversion
C. Business scope.
D. Diversified business.
ANSWER: B
44. Business composition is the term used while framing the following strategies. What are they?
A. Corporate strategy.
B. Marketing strategy.
C. Business strategy.
D. Both 1 and b.
ANSWER: D
45. Which of the following is not the characteristics of a strategic business unit?
A. It serves a homogenous set of markets with a limited number of related technologies
B. It serves a unique set of products.
C. It owns responsibility for its own profitability.
D. None of the above.
ANSWER: D
46. According to GE screening grid model, which strategy should a company follow when it has high
industry attractiveness and low business competitive position.
A. Invest/growth
B. Selective investment /maintain position.
C. Harvest/divest
D. None of the above.
ANSWER: A
47. Which of the following will act as a corner stone in maintaining the competitiveness of company
A. Market focus.
B. Defining capabilities.
C. Relationships and organizational change.
D. None of the above.
ANSWER: A
48. Which analysis compares the strengths and weaknesses of a firm against the opportunities and threats
in the external environment.
A. Environmental analysis.
B. Business analysis.
C. SWOT analysis.
D. None of the above.
ANSWER: C
49. Which of the following is not included in the list of macro-environmental variables.
A. Prevailing economic conditions and political manifestos.
B. Changes in legislation and emerging new technologies.
C. Financial conditions and culture.
D. None of the above.
ANSWER: D
50. What is the term used if management wants to audit the key management functions like salesforce,
advertising or pricing?
A. Vertical audit
B. Horizontal audit.
C. External audit.
D. None of the above.
ANSWER: A

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Author and Assistant Professor in Finance, Ardent fan of Arsenal FC. Always believe "The only good is knowledge and the only evil is ignorance - Socrates"