Exam

Question 1

What store do you work for?

Answer 1

Dog Den

Question 2

What is retail merchandising?

Answer 2

The combination of strategies a business takes to encourage customers to purchase an item in a retail store

Question 3

Types of merchandise

Answer 3

staple good, convenience good, fashion good, seasonal good

Question 4

What is the merchandise mix?

Answer 4

Businesses must pay close attention to their target market and must obtain, develop, maintain, and continuously improve upon their merchandise mix

Question 5

Component of merchandise mix

Answer 5

merchandise mix, product line, product items

Question 6

Merchandise mix strategies

Answer 6

development, expansion, modification, deletion

Question 7

What is the role of the buyer?

Answer 7

purchase products that satisfy customer needs

Question 8

Psychological pricing examples

Answer 8

odd-even, multiple, promotional

Question 9

Receiving process

Answer 9

receiving and checking merchandise

Question 10

What is inventory?

Answer 10

the amount of goods stored by a business

Question 11

What is odd-even pricing?

Answer 11

when a price ends with an odd number, customers perceive it as being a value of sale iem

Question 12

What is multiple pricing?

Answer 12

offers the customer one price for purchasing multiple items

Question 13

What is promotional pricing?

Answer 13

occurs when a sale is taking place within a store and attracts customers to the store

Question 14

What are inventory methods?

Answer 14

perpetual, physical, and combined ways to collect a store’s inventory

Question 15

What is inventory shrinkage?

Answer 15

occurs when the physical count is less than the perpetual count

Question 16

What are needs?

Answer 16

a requirement

Question 17

What are wants?

Answer 17

a desire to possess

Question 18

What is the Dog Den markup?

Answer 18

35%

Question 19

Features of a product

Answer 19

physical characteristics of the product

Question 20

Benefits of a product

Answer 20

the advantage the customer will gain from this feature

Question 21

Goal of the customer

Answer 21

the always make them happy

Question 22

“PHONE”- P

Answer 22

power tone

Question 23

“PHONE”- H

Answer 23

say hello

Question 24

“PHONE”- O

Answer 24

organization

Question 25

"PHONE"- N

Answer 25

state your name

Question 26

"PHONE"- E

Answer 26

end with a question

Question 27

Example for answering the phone

Answer 27

"Hi this is the Dog Den, how can I help you?

Question 28

Largest bills on the

Answer 28

left

Question 29

Smallest bills on the

Answer 29

right

Question 30

Largest coins on the

Answer 30

left

Question 31

Smallest coins on the

Answer 31

right

Question 32

Bills should be facing the same direction?

Answer 32

yes

Question 33

What are objections?

Answer 33

concerns hesitations, doubts, or other honest reasons a customer has for not making a purchase

Question 34

How to close a sale-

Answer 34

don't rush customer, uncover objections, help undecided customers, stop talking about product

Question 35

What is the marketing concept?

Answer 35

in order for a business to make profit, they must satisfy customers' needs and wants

Question 36

What is a customer?

Answer 36

someone who buys the product

Question 37

What is a consumer?

Answer 37

someone who uses the product

Question 38

What is a market?

Answer 38

a group of people or companies that have a demand for a product or service and are willing to buy

Question 39

How to find your customer-

Answer 39

1) identify why a customer would want to buy your product or service 2) segment your overall market 3) research your customer

Question 40

What are demographics?

Answer 40

personal characteristics such as age, gender, location, education, occupation, income level, marital status, and house type

Question 41

What are psychographics?

Answer 41

the social and psychological characteristics of your customers which include needs, values, buying styles, culture, and interests

Question 42

What are geographics?

Answer 42

market segmentation based on where humans live based on local, regional, national, and global markets

Question 43

What are buying characteristics?

Answer 43

Segmentation based on the customer's knowledge of products and services and the customer's personal experience and reactions to the products and services

Question 44

Two types of data collection:

Answer 44

primary and secondary

Question 45

4 P's of marketing mix

Answer 45

product, price, place, promotion

Question 46

What is visual merchandising?

Answer 46

the presentation of the entire store and its merchandise in ways that will attract potential customers

Question 47

What is a sales display?

Answer 47

the visual and artistic aspects of presenting a product to a select target audience

Question 48

What is advertising?

Answer 48

any form of impersonal, paid communication of ideas, goods, or services directed to a mass audience by an identified sponsor

Question 49

6 forms of advertising

Answer 49

Newspaper, magazines, direct mail, outdoor advertising, transit advertising, directory advertising

Question 50

6 types of retail stores

Answer 50

department, flagship, specialty, boutiques, chain, outlets

Question 51

What is a target market?

Answer 51

a particular group of consumers at which a product/service is aimed

Question 52

How many cameras are in the dog den?

Answer 52

6

Question 53

Why might someone prefer to use secondary data?

Answer 53

quicker, easier, cheaper, convenient

Question 54

6 dog den teams

Answer 54

marketing, fashion design, hyper hounds, web design, accounting, management