Retail Management MCQ Questions and Answers Part – 3

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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

101. The number of product lines a company carries is called.
A. Product mix.
B. Product mix depth.
C. Product mix width.
D. Product mix length.
ANSWER: C
102. The number of variants of a product offered by a company is called.
A. Product mix length.
B. Product mix depth.
C. Product mix width.
D. Product line length.
ANSWER: B
103. If a company increases product line length by increasing its products range it is called.
A. Line increasing.
B. Line stretching.
C. Line filling.
D. Range stretching.
ANSWER: B
104. Companies that attack other firms including the market leader in an attempt to build market share are called.
A. Market followers
B. Market challengers.
C. Market leaders.
D. Market nichers.
ANSWER: B
105. Companies that follow the market leader’s strategy are called.
A. Market nichers.
B. Market leaders.
C. Market followers.
D. Market challengers.
ANSWER: C
106. Which one of the following is not an internal source of generating ideas for new product development
A. Market research
B. Directed research.
C. Need-gap analysis.
D. Top management.
ANSWER: A
107. The method which generate new product ideas by analyzing the customer needs, wants and ideas is known.
A. Directed research.
B. Customer need analysis.
C. Need gap analysis.
D. Market research.
ANSWER: C
108. Which method of product portfolio analysis helps in deciding which products are to be retained and
which are not to be.
A. Ansoff matrix.
B. Strategic environment matrix
C. BCG matrix.
D. None of the above.
ANSWER: C
109. The methods which are used for evaluating marketing performance are.
A. Sales analysis and marketing cost analysis
B. Sales analysis and cost analysis
C. Market analysis and research analysis.
D. Demand analysis and supply analysis.
ANSWER: A
110. The set of basic values, perceptions, wants and behaviours learned by a member of a society from family and other important institutions is called.
A. Sub-culture.
B. Social class.
C. Culture.
D. Reference groups.
ANSWER: C
111. What is the framework that describes the positioning of firms database to support decisions with in the purview of total customer loyalty strategy
A. Customer retention strategy.
B. Customer bonding.
C. Customer positioning.
D. Customer acquisition.
ANSWER: B
112. In which stage of product life cycle strategy, the company takes the decision whether to maintain, harvest or drop the product.
A. Introduction.
B. Growth.
C. Maturity.
D. Decline.
ANSWER: D
113. The branding strategy which uses a different brand name for reach product is known as .
A. Over all family branding.
B. Line family branding.
C. Individual branding.
D. Brand extension.
ANSWER: C
114. Eurekha Forbes is popular for its strategy of.
A. Personal selling.
B. Sales promotion.
C. Advertisement.
D. Direct marketing.
ANSWER: D
115. Which one of the following is not an element of promotional mix?
A. Advertising.
B. Product-mix.
C. Publicity.
D. Direct marketing.
ANSWER: B
116. Which element of the promotional mix is preferable if the marketer wants to get. immediate feedback?
A. Sales promotion.
B. Public relations.
C. Personal selling.
D. Direct marketing.
ANSWER: D
117. What are the factors that contribute to the corporate identity?
A. Organizational symbols.
B. Advertising and publicity.
C. Customer relation programs.
D. All of the above.
ANSWER: D
118. Which of the following comes under the category of external public?
A. Government.
B. Press.
C. Trade unions.
D. All of the above.
ANSWER: D
119. Which of the following is not a contributing factor for the rapid growth of sale promotion?
A. Increase of competition.
B. Decrease in advertising efficiency.
C. Retailers pressure.
D. Huge profits of manufacturers.
ANSWER: D
120. is the important benefit a marketer could get from a retailer through trade promotion?
A. Advertising.
B. Financial help.
C. More shelf space.
D. None of the above.
ANSWER: C
121. Which one of the following is not an advantage of the personal selling?
A. It allows the seller to negotiate terms and solve problems
B. Long-term relationship.
C. Immediacy.
D. It is very expensive to maintain and recruit the sales force.
ANSWER: D
122. A competitor who does not exhibit predictable reaction pattern is known as.
A. The laid-back competitor.
B. The selective competitor.
C. The tiger competitor.
D. The stochastic competitor.
ANSWER: A
123. An interactive marketing system which uses one or more advertising media to effect a measurable response and /or transactions at any location is called.
A. Direct marketing.
B. Indirect marketing.
C. Database marketing.
D. Meta marketing.
ANSWER: A
124. What type of conflict usually exist when the manufacturer has established two or more channels that
sell in the same market.
A. Multi-channel conflict.
B. Horizontal channel conflict.
C. Vertical channel conflict.
D. None of the above.
ANSWER: A
125. What are the forms of compensation that a salesperson can generally get?
A. Straight salary.
B. Straight commission.
C. A combination of salary and commission .
D. All of the above.
ANSWER: D
126. Which of the following items is a component of a good business plan?
A. Operating requirements.
B. Description of the location/demographics.
C. Employee benefits.
D. All of the above.
ANSWER: A
127. Which of the following items is required to develop a better financial plan?
A. Identify your target market.
B. Consider employee lay-offs.
C. Prioritize your needs.
D. Research other companies.
ANSWER: C
128. When analyzing your business and its environment it is useful to carefully inspect its:.
A. Threats.
B. Strengths and weakness.
C. Opportunities.
D. All of the above.
ANSWER: D
129. Which of the following is an example of an external threat?
A. Decreased competition.
B. New trade regulations.
C. Global sales potential.
D. Economies of scale.
ANSWER: B
130. Which of the following is an example of an internal strength?
A. Obsolete resources.
B. Changing tax structure.
C. Proven management.
D. Increased competition
ANSWER: C
131. Which objective gives importance to productivity, technological leadership, employee relations, etc?
A. Long-term objective.
B. Short-term objective.
C. Medium-term objective.
D. Annual objective.
ANSWER: A
132. Which element identifies the strategic factors that determine the future of a firm?
A. Evaluation and control.
B. Environmental scanning.
C. Strategy formulation.
D. Strategy implementation.
ANSWER: B
133. What bridges the gap between strategy formulation and implementation?
A. Strategic planning.
B. Strategic management.
C. Decision-making.
D. Organizing.
ANSWER: A
134. What describes the market, product and technological area of a business?
A. Company’s vision.
B. Company’s mission.
C. Bumper-sticker strategy.
D. Strategic plan.
ANSWER: B
135. Which factor indicates the nature and direction the economy in which a firm operates?
A. Economic environment.
B. Gross national product.
C. Competitive position
D. Operating environment
ANSWER: A
136. How can a firm optimize its environmental opportunities?
A. By assessing its market share.
B. By assessing the competitiveness in the industry.
C. By assessing the effectiveness of its sales distribution.
D. By assessing its competitors position in the market.
ANSWER: D
137. Which of the following helps a manager identify the opportunities and threats in the competitive industrial environment?
A. Analyzing the competitive forces.
B. Market research.
C. Market analysis.
D. Sales analysis.
ANSWER: A
138. Which of the following factors plays a significant role in providing superior quality products to customers, within a given time frame?
A. Technology.
B. Fast delivery.
C. Customer convenience.
D. Customer’s choice.
ANSWER: A
139. Which one of the following represents the best long-run opportunity in a firm’s portfolio?
A. Cash cow.
B. Star.
C. Question mark.
D. Dog.
ANSWER: B
140. Which business unit holds a large market share in a mature and slow-growing industry?
A. Dog.
B. Cash cow.
C. Question mark.
D. Star.
ANSWER: B
141. Which of the following provides a basis for monitoring and controlling organizational performance?
A. Daily reports
B. Weekly reports
C. Long-term objectives
D. Annual objectives
ANSWER: D
142. In which of the following pricing approaches is pricing based on consumer demand?
A. Functional approach.
B. Business approach.
C. Market approach.
D. Innovative approach.
ANSWER: C
143. A/an —- helps people understand the behaviour patterns that are expected of them in particular circumstances
A. Advisory policy.
B. Explicit policy.
C. Mandatory policy.
D. Implicit policy.
ANSWER: B
144. Agricultural market set up by state government to procure agricultural produce directly from farmers
A. Haats
B. Mandis
C. Kirana
D. public distribution system
ANSWER: B
145. Consumer do their own picking, pay in cash and carry the merchandise away
A. Automated Vending
B. Super market
C. The Cash and carry
D. direct response retail
ANSWER: C
146. What are the major determinants of employee motivation?
A. Reward and coercive power.
B. New technologies.
C. Personal power and future growth prospects.
D. Information and connection power.
ANSWER: A
147. At what stage is the threat from competitors at its peak in an industry?
A. Growth stage.
B. Embryonic stage.
C. Mature stage.
D. Shakeout stage
ANSWER: A
148. Which marketing tool uses multiple factors to assess industry attractiveness and business strength?
A. The GE Grid.
B. The BCG matrix
C. The turn around strategy.
D. SWOT analysis.
ANSWER: A
149. —- forms the basis for the allocation of corporate resources.
A. Financial evaluation.
B. Organizational growth.
C. Organizational structure.
D. Organizational culture.
ANSWER: C
150. —- is often critical for the proper accomplishment of a divestiture and can provide comfort to the
employee as well as to potential buyers.
A. A flexible management.
B. A stable management.
C. An active management
D. None of the above.
ANSWER: B
151. It is a requirement imposed by a vendor that a retailer cannot sell an item for the less than a specific
price.
A. Resale Price Maintenance (RPM)
B. Chargeback
C. Standard price
D. uniform price
ANSWER: A

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