Retail Management
Mock Exam
Course Introduction
Retail Management explores the fundamental principles, strategies, and operations involved in running successful retail businesses. This course covers topics such as store layout and design, merchandise planning, pricing strategies, supply chain management, customer relationship management, and the integration of digital technology in retail. Students will analyze consumer behavior, evaluate retail market trends, and develop practical skills in inventory control, sales promotion, and service delivery. Through case studies and real-world examples, learners gain insight into the dynamic challenges facing modern retailers and develop the managerial competencies necessary for effective decision-making in the competitive retail environment.
Recommended Textbook
ABCs of Relationship Selling Through Service 6th Canadian Edition by Charles M. Futrell
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14 Chapters
1220 Verified Questions
1220 Flashcards
Source URL: https://quizplus.com/study-set/2931
Page 2
Chapter 1: The Life,times,and Career of the Professional
Salesperson
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Many sales jobs require the salesperson to display considerable emotional and social intelligence in dealing with buyers
A)True
B)False
Answer: True
Q2) As a part of providing service to customers,a salesperson would be expected to:
A) return damaged merchandise
B) handle complaints
C) work at the customer's business
D) suggest business opportunities
E) all of the choices are correct
Answer: E
Q3) There are many types of Sales jobs in today's marketplace.List them and describe potential overlaps in roles.
Answer: Sales clerk,CSR,Merchandisers,Order Desk Clerk,Sales Representative,Senior Sales Rep,Technical Sales Rep,Key Account Rep,Business Solutions Specialist,Top Sales Executive.The second part of the question should emphasize the notion that everyone sells and supports the customer relationship.
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Chapter 2: Ethics First Then Customer Relationships
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86 Verified Questions
86 Flashcards
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Sample Questions
Q1) Lucas sells athletic clothing for a major clothing manufacturer.His buddy owns a local retail store so Lucas agrees to give him a further 10% discount so that he can compete better in his city.Which of the following terms best describes Lucas' action?
A) Consumer protection
B) Exclusive dealing
C) Reciprocity
D) Price discrimination
E) Nothing that most salespeople wouldn't do
Answer: D
Q2) A salesperson makes the following statement to a plant nursery retailer,"I'll sell you Southview Sphagnum peat moss only if you'll sell Greenway grass seeds,too." Under the Competition Act,this statements describes which of the following terms?
A) misrepresentation
B) a tie-in sale
C) reciprocal selling
D) a cooling off period
E) discriminatory selling
Answer: B
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Chapter 3: The Psychology of Selling: Why People Buy
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95 Verified Questions
95 Flashcards
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Sample Questions
Q1) Large organizations often have complex buying decision processes and buying centres of influence? Which of the following would you NOT identify as a typical role played in a buying centre?
A) buyers
B) influencers
C) importers
D) deciders
E) users
Answer: C
Q2) Katarina puts on an expensive watch and is trying to decide if she should buy it.Suddenly,she begins to wonder if her friends will like it.Her friends in this case are one of her reference groups.
A)True
B)False
Answer: True
Q3) Buyers are NOT always fully aware of their needs.
A)True
B)False
Answer: True
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Page 5
Chapter 4: Communication for Successful Selling: How to Build Relationships
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113 Verified Questions
113 Flashcards
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Sample Questions
Q1) The salesperson delivers a detailed presentation while the buyer simply listens to the salesperson.Which of the following terms best describes this scenario?
A) distortion
B) hard-sell communication
C) non-communication
D) noise
E) one-way communication
Q2) The restaurant equipment salesperson is receiving the following signals from her prospect: She appears to want to move away from you,has gone silent and appears to be avoiding eye contact and,starts to make a few negative comments.What kind of signal is she likely projecting?
A) caution
B) acceptance
C) disagreement
D) unsure
E) confusion
Q3) What is the difference between marginal,evaluative,and active listening?
Q4) Differentiate between hearing and listening.How does improving your listening skills enhance your persuasive powers?
6
Chapter 5: Sales Knowledge: Customers, products, technologies
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101 Verified Questions
101 Flashcards
Source URL: https://quizplus.com/quiz/58395
Sample Questions
Q1) The text suggests a preferred order for a salesperson to present a product's features,advantages,and benefits.What is that preferred order?
A) Advantages first is the preferable method.
B) Benefits first is the preferable method.
C) Features first is the preferable method.
D) It is wise to vary the order of features, advantages, and benefits during your presentation.
E) The text does NOT express a preference about which should be first.
Q2) "This shampoo contains no harsh chemicals." What term describes this statement?
A) market identifier
B) segmentation variable
C) advantage
D) benefit
E) feature
Q3) A product benefit answers which of the following questions?
A) Who's going to buy it?
B) Why am I buying it?
C) What's in it for me?
D) How much will a customer pay for it?
E) All of these choices are correct.
Page 7
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Chapter 6: Prospecting : The Lifeblood of Selling
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72 Verified Questions
72 Flashcards
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Sample Questions
Q1) The two reasons a salesperson must look consistently for new prospects are to maintain sales and to increase the number of repeat sales.
A)True
B)False
Q2) Salespeople must sell the product and sell the prospect on providing referrals.These two activities are collectively known as the sales funnel.
A)True
B)False
Q3) List the four main sources for a prospect pool.
Q4) Marie,a sales representative for a software company may join a "sales lead club" for several reasons.Which of the following is most likely the reason motivating Marie to join a "sales lead club?"
A) meet other salespeople
B) avoid having to make parallel referral sales
C) share leads and prospecting tips
D) practice new sales presentations
E) evaluate her own sales call objectives
Q5) Explain the underlying premise of the Sales Funnel.
Q6) Identify and describe the ten steps in the sales process.
Page 8
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Chapter 7: The Pre-Approach Planning Your Sales Call and Presentation
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113 Verified Questions
113 Flashcards
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Sample Questions
Q1) The interactive need-satisfaction sales presentation method is most appropriate where information needs to be gathered from the prospect.
A)True
B)False
Q2) The sales call objective should be directly beneficial to the customer.
A)True
B)False
Q3) The formula selling approach works well in straight rebuy and modified rebuy situations,especially with consumer goods.
A)True
B)False
Q4) Memorized sales presentations call for very little talking on the part of the salesperson.In fact,the objective of these types of sales presentations is simply to ascertain customers' needs.
A)True
B)False
Q5) List the prospect's five mental steps in buying then,provide a key characteristic or challenge associated with each.
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Chapter 8: The Approach: Begin Your Presentation
Strategically
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72 Verified Questions
72 Flashcards
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Sample Questions
Q1) "May I help you" is a perfect example of a direct question that leads the prospect towards a specific topic.
A)True
B)False
Q2) "Ms.Flores (handing her the product to examine),I want to leave samples for you,your cosmetic representative,and your best customers,of Revlon's newest addition to our perfume line." What kind of opening statement best captures this interaction between the salesperson and Ms.Flores?
A) showmanship
B) premium
C) introductory
D) referral
E) complimentary
Q3) Which of the following questions are examples of a direct question?
A) "Do you want to save money on input costs?"
B) "How will you use this forged steel trowel?"
C) "Why do you need such a warranty with your refrigeration system?"
D) "What features are you looking for in an office file system?"
E) "Where will you use this security light?"
Q4) How do salespeople earn the right to have a prospect's attention?
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Chapter 9: The Presentation: Elements of Effective
Persuasion
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87 Verified Questions
87 Flashcards
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Sample Questions
Q1) If you sell a product,chances are you will have competitors selling similar products.Which of the following is NOT one of the basic rules addressing the issue of competitors' products?
A) do no refer to the competition unless necessary
B) if necessary, address the competition only briefly
C) make a detailed comparison of your product and the competition's product
D) be professional at all times
E) illustrate to your prospect all the weakness and none of the strengths associated with your competitor's product
Q2) Every time John sells a new computer,he makes a point of asking the customer the following,"may I suggest you purchase accidental damage insurance for your new lap top!"
John is using a technique called "value added selling."
A)True
B)False
Q3) The best visual aid is showing your buyer the actual product.
A)True
B)False
Q4) List the 7 tips that will help you cross sell.
Q5) Identify and describe the five purposes of a sales presentation?
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Chapter 10: Objections Address Your Prospects Concerns
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84 Verified Questions
84 Flashcards
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Sample Questions
Q1) What does it mean when an objection turns into a condition of sale?
A) the prospect does not like the guarantee offered
B) the prospect does not have authority to buy, and the salesperson should be talking to someone of higher authority
C) if the salesperson meets the prospect's request, the prospect will buy
D) you are dealing with an "hopeless objection" - ask for the sale
E) if the salesperson does not change the presentation style being used, the prospect will terminate the sales interview
Q2) When Ashleigh said that she couldn't afford to buy the product right now,Christina said,"You can't afford not to buy it right now." What objection handling method was Christina using?
A) direct denial
B) indirect denial
C) absolute denial
D) boomerang
E) Frisbee
Q3) Hardball tactics are often associated with win-win strategies.
A)True
B)False
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Page 12
Chapter 11: Closing the Beginning of a New Relationship
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) Under what specific situation is the assumptive close especially effective?
A) when the summary-of-benefits has been provided
B) when only two choices have been provided
C) when the prospect/customer trusts the salesperson
D) when the purchase decision is complex
E) when the product is relatively new in the market with little track history
Q2) In sales,aggressiveness and assertiveness describe the same behaviour.
A)True
B)False
Q3) Which closing technique tends to generate in the prospect a sense of excitement and the need for quick action on their part?
A) probability
B) urgency
C) minor-points
D) assumptive
E) balance-sheet
Q4) The trial close is synonymous with needs-analysis.They are both designed to uncover buyer needs.
A)True
B)False
Page 13
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Chapter 12: Follow-Up Maintain and Strengthen the Relationship
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61 Verified Questions
61 Flashcards
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Sample Questions
Q1) A salesperson just noticed he lost an important client to the competition.He decides to do all of the following: Visit the business to investigate,remain professional and friendly while engaging the lost client to determine why he lost the business.What behaviour is this salesperson demonstrating?
A) always selling, no matter what
B) being aggressive and pushy
C) building a professional reputation
D) cross-selling other products and services his company sells
E) persevering
Q2) Service refers to the process that buyers provide to satisfy customers.
A)True
B)False
Q3) When determining the frequency of visits,salespeople should always keep in mind the potential and actual sales associated with specific customers.
A)True
B)False
Q4) Describe how social media can be used as part of customer-service and follow-up.
Q5) Why shouldn't a salesperson have unlimited optimism?
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Q6) What determines whether a salesperson is successful at account penetration?
Chapter 13: Time,Territory,and Self-Management
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71 Verified Questions
71 Flashcards
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Sample Questions
Q1) Fewer overnight trips and regular contact with productive customers can reduce sales expenses as well as improve a firm's sales-cost ratio.
A)True
B)False
Q2) Why do so many companies concentrate on improving the way their salespeople manage their time and territories?
A) the cost of direct selling is rapidly decreasing
B) the time available for face-to-face customer contact is increasing
C) there is reduced emphasis on profitability
D) time is always limited
E) all of these choices are correct
Q3) In general terms,it is NOT a best practice for salespeople to establish a minimum number of times they will visit each class of accounts.
A)True
B)False
Q4) A salespersons should allocate their time based on the location of the account?
A)True
B)False
Q5) What is the relationship between the ELMS system and the 80/20 principle?
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Chapter 14: Retail, business, services, and Nonprofit Selling
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84 Verified Questions
84 Flashcards
Source URL: https://quizplus.com/quiz/58399
Sample Questions
Q1) When a waitress in a restaurant recommends a piece of apple pie to go with a customer's coffee order,the waitress is engaged in STEP selling.
A)True
B)False
Q2) Which of the following roles within an organization may have an impact on the buying decision?
A) purchasing agents
B) managers
C) accountants
D) executive assistants
E) all of these choices are correct
Q3) Selling services is one of the easier things to sell.
A)True
B)False
Q4) Most non-profit organizations tend to sell tangible products.
A)True
B)False
Q5) How does the services characteristic of intangibility affect how an operator of a daycare centre sells her service?
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