Retail Management
Exam Materials
Course Introduction
Retail Management explores the dynamic world of retailing, focusing on the strategies and operations essential for effective management in the retail sector. The course covers key topics such as retail formats, merchandise planning, store layout and design, supply chain management, customer experience, pricing, and promotional strategies. Students will gain insights into consumer behavior, technological advancements, and ethical considerations in retail. Through case studies and practical applications, the course prepares students to analyze retail environments, develop successful management practices, and adapt to the evolving challenges of the global retail industry.
Recommended Textbook
Dalrymples Sales Management Concepts and Cases 10th Edition by William L. Cron
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16 Chapters
1140 Verified Questions
1140 Flashcards
Source URL: https://quizplus.com/study-set/1355
Page 2
Chapter 1: Introduction to Selling and Sales Management
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40 Verified Questions
40 Flashcards
Source URL: https://quizplus.com/quiz/27064
Sample Questions
Q1) Compared to other promotional tools, the most important advantage(s) of person selling is in:
A) locating prospects.
B) gaining customer commitment
C) creating customer value.
D) both b and c above.
E) all of the above.
Answer: D
Q2) Sales management can be defined as the control and implementation of personal contact programs designed to achieve the sales objectives of the firm.
A)True
B)False
Answer: True
Q3) Sales and customer relationship skills are most important during the growth phase (i.e., the middle of the product life cycle) of the product life cycle.
A)True
B)False
Answer: False
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Chapter 2: Strategy and Sales Program Planning
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62 Verified Questions
62 Flashcards
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Sample Questions
Q1) Which of the following are commonly performed by independent sales agents?
A) Prospecting for new customers.
B) Advertising.
C) Product delivery.
D) Product delivery
E) All of the above are performed by independent sales agents.
Answer: A
Q2) The sales force's role when executing a Differentiated Strategy usually includes:
A) selling high margin products.
B) focusing on non-price benefits.
C) establish long-term customer relationships.
D) only a and b above.
E) a, b, and c are all likely to be included.
Answer: E
Q3) Most large companies access their markets exclusively through a direct sales force.
A)True
B)False
Answer: False
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Chapter 3: Sales Opportunity Management
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65 Verified Questions
65 Flashcards
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Sample Questions
Q1) Corporate marketing executives are usually in the best position to determine the minimum size customer on which the sales force should be calling.
A)True
B)False
Answer: False
Q2) In order for a prospect to be a qualified lead a salesperson must gather information about whether the prospect has:
A) a genuine need for the product or service.
B) the buying authority to purchase the product or service.
C) the financial resources to purchase the product or service.
D) only a and b above are true.
E) a, b, and c above are all true.
Answer: E
Q3) Sales process models such as the Sales Funnel are best suited for salespeople selling big-ticket items (e.g., computers), where prospecting for new sales opportunities is important.
A)True
B)False
Answer: False
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Page 5
Chapter 4: Account Relationship Management
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63 Verified Questions
63 Flashcards
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Sample Questions
Q1) Most buying organizations assign an "advocate" to new salespeople for the purpose of educating them about their operations.
A)True
B)False
Q2) An advocate is usually needed in complex business-to-business sales situations because the salesperson is not seen as being trustworthy.
A)True
B)False
Q3) In a transactional type of relationship, the sales force provides the greatest customer value during which stage(s) of the purchasing process?
A) recognition of needs
B) evaluation of alternatives
C) purchase decisions
D) both a and b above
E) both a and c above
Q4) The Economic Buyer controls the money to make a purchase.
A)True
B)False
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Page 6
Chapter 5: Customer Interaction Management
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68 Verified Questions
68 Flashcards
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Sample Questions
Q1) Research indicates that customers generally express at least 50% more buying concerns in successful sales calls, than in failed calls.
A)True
B)False
Q2) Salespeople are well advised to keep e-mail messages brief.
A)True
B)False
Q3) Direct marketing organizations such as Mary Kay Cosmetics and Cutco usually train their salespeople to use a standardized type of sales presentation.
A)True
B)False
Q4) The problem-solution model of selling is based on the notion that onoly certain customers will and should buy your product or service.
A)True
B)False
Q5) The best advice about when to close is to close early and decisively.
A)True
B)False
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Chapter 6: Sales Force Organization
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76 Verified Questions
76 Flashcards
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Sample Questions
Q1) Most sales forces are organized along functional lines.
A)True
B)False
Q2) Motivation and retention continue to be two management problems associated with telemarketing sales forces.
A)True
B)False
Q3) If independent sales agents receive a 7% commission on sales with overhead of $70,000 and company salespeople receive a 5% commission with salary and overhead costs of $500,000, what is the break-even point between the two choices?
A) $28,500,000
B) $21,500,000
C) $25,000,000
D) $23,500,000
E) $20,500,000
Q4) To be successful, specialized sales force structures often require exceptional training capabilities.
A)True
B)False
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Chapter 7: Recruiting and Selecting Personnel
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87 Verified Questions
87 Flashcards
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Sample Questions
Q1) Besides observing what salespeople do on the job, additional information in analyzing sales jobs can best be obtained by:
A) conversing with the personnel department.
B) analyzing financial reports.
C) interviewing sales managers and customers.
D) reviewing the general organization structure.
E) looking at job descriptions at other firms in the same industry.
Q2) In analyzing sales jobs it is an observer's duty to record the amount of time salespeople spend in all areas <b>except</b>:
A) talking to customers.
B) traveling.
C) record keeping.
D) attend meetings.
E) all of the above need to be analyzed
Q3) An application blank should not include questions about the applicant's martial status, and age, exceeding 18 years.
A)True
B)False
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Chapter 8: Training
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72 Verified Questions
72 Flashcards
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Sample Questions
Q1) Centralized training is relatively inexpensive.
A)True
B)False
Q2) Most new salesperson training time is devoted to improving the salesperson's selling techniques.
A)True
B)False
Q3) The main advantage of centralized training is that:
A) top level managers are available.
B) it has a relatively inexpensive cost.
C) the quality and consistency of training.
D) it moves the learning process closer to customers.
E) it reduces travel expenses.
Q4) The five major subjects included in training most often include product knowledge, market orientation, company orientation, teamwork and selling techniques.
A)True
B)False
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Available
Study
Chapter 9: Leadership
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) Value congruence refers to the ability of a leader to equally distribute rewards among subordinates.
A)True
B)False
Q2) If you were a sales manager, which of the following would you consider to be a signal of plateauing among your salespeople?
A) a loss of interest in prospecting.
B) a lack of follow through in customer service.
C) a reduction in working hours.
D) none of the above would be considered a signal of plateauing.
E) all of the above would be considered a signal of plateauing.
Q3) During a sales call the sales manager, instead of the salesperson, provides a response to a price objection by a customer is a good example of coaching.
A)True
B)False
Q4) Salespeople with a good self understanding are more open to receiving feedback than other professionals.
A)True
B)False
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Chapter 10: Ethical Leadership
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77 Verified Questions
77 Flashcards
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Sample Questions
Q1) Being a gentleman and avoiding methods of deceit is an inherent part of Machiavellinism.
A)True
B)False
Q2) The best way to handle an alcoholic salesperson is to:
A) fire him or her.
B) transfer his or her to another division.
C) promote him or her out of the field.
D) send him to Alcoholics Anonymous.
E) depends on the situation.
Q3) Ethical problems occur because executives frequently choose what is expedient rather than what is morally correct.
A)True
B)False
Q4) "Blowing the whistle" on other employees is an easy thing to do.
A)True
B)False
Q5) Machiavelli was philosophically a <b>realist</b>.
A)True
B)False
Page 12
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Chapter 11: Motivating Salespeople
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88 Verified Questions
88 Flashcards
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Sample Questions
Q1) Most companies will use some type of incentive program to motivate their salespeople.
A)True
B)False
Q2) The most frequently used type of quota by sales organizations is:
A) number of sales calls
B) total direct selling expense
C) net profits before taxes
D) sales volume
E) point-of-purchase display
Q3) According to Expectancy Theory a salesperson will be motivated to work harder when they believe that greater effort will lead to greater performance.
A)True
B)False
Q4) Providing frequent feedback is recommended for goal setting to be effective.
A)True
B)False
Q5) Activity quotas set targets on specific profits generated.
A)True
B)False
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Chapter 12: Compensating Salespeople
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84 Verified Questions
84 Flashcards
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Sample Questions
Q1) As a sales consultant specializing in designing compensation plans, you advise your clients that the most influential factor is:
A) To develop as many goals as possible with the plan.
B) Drive multiple, specific salesperson behaviors.
C) Align your pay plan with company strategy
D) That the most expensive plan is typically the most motivating one.
E) Design a plan to minimize salesperson compensation.
Q2) All of the following are possible benefits to salespeople <b>except</b>:
A) automobile.
B) food allowance.
C) lodging.
D) bail money for salespeople at conferences, "just in case".
E) tickets to theaters and sporting events.
Q3) A major objective of a well-designed compensation package is to:
A) provide equal pay to all employees at the same level.
B) Increase sales and revenues.
C) provide extensive benefits.
D) encourage a "hard sell" attitude among the sales force.
E) micromanage salesperson behaviors.
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Page 14
Chapter 13: Evaluating Sales Force Performance
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95 Verified Questions
95 Flashcards
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Sample Questions
Q1) Managers should employ industry sales figures to:
A) place fixed quotas on their sales force.
B) uncover product line problems.
C) determine who the customers really are.
D) to group customers by industry type.
E) sales managers have very little use for industry sales figures.
Q2) Both controllable and uncontrollable costs are figures that are directly relevant to field sales managers.
A)True
B)False
Q3) In a cost and profit analysis, the profit contribution figure shows how much price-cutting and sharing of commission is being employed by salespeople to move the products.
A)True
B)False
Q4) Net sales revenue minus variable cost equal direct fixed selling costs.
A)True
B)False
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Chapter 14: Estimating Potentials and Forecasting Sales
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85 Verified Questions
85 Flashcards
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Sample Questions
Q1) For best results, always seasonally adjust time series data.
A)True
B)False
Q2) The market share of an organization is measured by which of the following ratios?
A) company sales to industry sales
B) company sales to company potential
C) company potential to market potential
D) company sales to market potential
E) none of the above
Q3) When forecasting sales for a particular product, all of the following are possible leading indicators except:
A) new building permits.
B) historical data for that product.
C) Dow Jones industrial average.
D) new orders for durable goods.
E) all of the above are leading indicators.
Q4) At least three periods of data are needed for a moving average.
A)True
B)False
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Chapter 15: Territory Design
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47 Verified Questions
47 Flashcards
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Sample Questions
Q1) Combining control units is a fundamental part of the <b>build-up method</b> of territory design.
A)True
B)False
Q2) The "equal opportunity" principle in designing sales territories is that:
A) territories should be assigned regardless of race, religion, age, or sex.
B) creating territories of equal sales potential.
C) having equal compensation among salespeople.
D) a and b only.
E) all of the above.
Q3) The workload approach to the design of sales territories can be thought of as a six-part decision process, starting with decisions on allocation criteria, and selection of starting points.
A)True
B)False
Q4) Designing sales territories with equal sales potential is very common among business firms.
A)True
B)False
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Chapter 16: Sales Force Investment and Budgeting
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40 Verified Questions
40 Flashcards
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Sample Questions
Q1) When sales carryover effects are high, then there will likely be a large sales decrease if a sales force's size is reduced.
A)True
B)False
Q2) Which of the following are indicators that a sales force might be too large:
A) key customers wonder where your salesperson is.
B) current customers are considering switching suppliers.
C) new customer development is down.
D) your salespeople don't seem sufficiently stimulated.
E) all the above are all indicators of too large a sales force.
Q3) Your sales force is probably too large if the number of new customer sales is down.
A)True
B)False
Q4) If a sales force downsizing is necessary, then it is best to make all the necessary changes at once rather than a little at a time.
A)True
B)False
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