Bus of Retail: Questions for Study

A customer shopping for gloves is undecided about which brand to buy. She narrowed her options down to 2 popluar brands, what should the associate say to help the customer decide?

"Both gloves have great reviews, why don't you try both and see how they feel on your hands?"

Jack a customer who needs a 9-passenger van to bring his son's basketball team to a Dave & Busters for a group outting. He goes into the nerby vehicle rental office looking to rent a 9-passenger van, but another customer rentted the last one availble 2 hours earlier. Jack seems really needs that type of vehicle, and the closest rental office with this type of vehicle is 31 miles away. What is the sales associates best response?

"We have a larger van availble in case you'd like to consider other options. But if you really want the 9-passenger van, we also have an office 31 miles away. Would you like me to check if they have one availble?"

A busniess makes $5100 in daily revenue and on average, spends $1400 in the products sold and $2000 on employee salaries, and other expenses. What's the daily net profit of the busniess?

$1,700

Courtney, the buyer for a small produce store and she sells 25 bags of oranges at $12 per bag. Her cost of goods sold per bag is $7. What is Courtney's gross profit

$125

If a stores revenue is $3,050 and its cost of goods sold (COGs) is $1110, what is the busniesses gross profit?

$1940

Sarah sells 18 cakes for $18.00 each and the cost of each cake is $5.00. What is Sarahs Gross Profit?

$234

Jesse sells 20 cakes at $20.00 each and the cost of each cake is $6.00. What is Jesses gross profit.

$280

Sam's Surf shop sold 11 surf boards over the weekend. Each beahc ball costs $26.00. What's the revenue for the surf boards?

$286

A store pays for a school bag $12 and sells it for $18. Since school has already begun and sales have slowed down, they need to markdown its price. What is the lowest they can mark down the backpack if they want to still make $3 in profit?

16.7%

There are many pricing strategies. Which one describes KeyStone Pricing?

Create an inviting display of sweaters, scarves, and gloves at the store entrance

________ is not an example of a suggestive selling technique

A messy display of tank-tops

A sales associate is asked in the middle of the day to restock a shelf in which most of the product were sold out. What should the sales associate do?

Allow customers to keep shopping the few products left so no sales are lost

Visual merchandising accomplishes which of the following?

Allows customers to make a connection with products

Keith decides he will use Turbo Tax to do his own federal income taxes and file them. Keith shops for the software at Office Dept on Friday evening. He plans to do his taxes over the weekend so he can mail them on Monday, April 15th. Allison is the sales associate and tells Keith that they do not have the program in stock. Allison checks with the buyer and finds out that a new supply is expected on Monday. Whatś the best way for Allison do to help Keith right now?

Ask Keith what Turbo Tax features he likes about the software and see if the store has another program in stock that would fit his needs.

Which statement best describes having hands-on instructional classes (i.e interior painting, laying tiles, repairing a leaky faucet) at Lowe's, the home improvement store

Customers confidence in instructoers will in turn boost their own confidence so that they can complete a project on their own after visits to the store to take classes.

You are the cashier at an O'Reilly's Auto Store and Susan comes in and says that her tire sensor has come on, but she doesn't know what it means. You go out and look at the sensor light and realize that her rear right tire is low in air. Susan isnt sure about what air pressure is safe to use. You are new at your job, so you don't know the answer. What is the next best step?

Ask another associate at the store that might know what's the recommended PSI for the tire.

A cake shop completed its first big party. The shops wants to promote additional busniess and create a loyal clientele. Which is the most effective way to do this?

Ask satifised customers for feedback, referrals, and opppurtunities to serve their upcoming events.

What should he sale associate do first if he witnesses a customers child slip and fall causing the child to get a scratch on his elbow but appears to be otherwise unhurt?

Ask the parent if the child is okay

The machine-readable series of parallel lines that combine to create a unique item indentifier on a product is the:

Barcode

Your store is running a promotion on pickles. They have created an end-up display. A customer accidently runs into a display with their shopping cart and many bottles of pickles fall and break. You see the mess as you walk by. Whatś the best step for the sales associate?

Check on the shopper to ensure they are unharmed and direct traffic away from the area until it can be cleaned up

A sales associate just completed a sale on a dishwasher and the customer wants it delievered tomorrow on the associates day off. Which of the following should the sales associate do?

Check with the warehouse delievery drivers while the customer is still in the store

A ______ is a busniess thatś owned by shareholders through publicy traded stock, has many stores and has centralized ownership

Corporation

Which of the following would you categorize as the COGs if oeprating a taco-truck?

Cost of meat, shells and cheese

A retailer factors in _______ when considering utlities, marketing costs, and real estate rental costs to their prices.

Costs associated with retailing

If a POS system detects credit card fraud, it will:

Decline the transaction

A customer has $100 to spend on buying a gift. They could make their purchase either at Cabela's or at Bass Pro. What competitive relationship exists between the two retailiers?

Direct Competitors

__________ are retailers that offer the same products or services with the goal of selling it to the same audience.

Direct Competitors

Lids buys hats from many manufactors and stores hem here before shipping to their stores.

Distribution Center

Which of the following does (OSHA) Occupational Safety and Health Administration not require employers to do?

Encourage employees not to report accidents

______ is the action of promoting and selling products and services through advertising, space, management, and product branding.

Marketing

All retailers strive for supply to be ______ to demand

Equal to

Dan, a small busniess owner was excited to open his sporting goods shop. Dan created a _____ to show what products he would sell, the price of those products, the place or location of his physcial store and how he would promote his busniess.

Marketing Plan

Courtney has been a full time employee of a pet store for 2 1/2 years and she just had a baby. ________ allows her to take unpaid, job-protected leave for specificed family or medical reason

Family Medical Leave Act (FMLA)

When lifiting a heavy box, which of the following is incorrect?

Feet should be close together

_________ is the process of rotating perishable items that may expire so that the newer items are in the back, and the older items are in the front.

First In, First Out

An associate has just been transferred to the shoe department of the store where he works. On his second day, a customer asks him when the new summer collection will be available to preview. The associate is unable to answer and asks another associate. How can the associate best be prepared to answer similar questions about seasonal merchandise?

Follow-up with the other associate to find out about the stores seasonal merchandising plan

Winter has ended and the scarves have not sold well. What is this an example of?

Greater supply than demand

________ is the amount of money a retailer makes before taking expenses out or the difference between revenue and COGs.

Gross Profit

Macey owns a clothing shop in which her current assortment includes summer apperal. It's nearing end of summer so in order for her to make room for fall items, she decides to mark items down in order to move them out of the store. What will happen for her gross profit if she does this?

Gross profit goes down

A customer orders take-out and hands the server an expired coupon. The restaurant prides itself on customer service and satisfaction. What should the server do about the coupon?

Honor the expired coupon and thank the customer

Its Easter time and the different size Easter baskets are heavily shopped. As youre walking past, you notice some empty bins where certain size of baskets have all been heavily shopped. Whats the best next step?

Immediately check to see what size baskets are sold out, check the back room for additional items and restock the bins.

Retail employees have a responsibility to co-workers and customers AND their safety. Which is not an important factor?

In the event of an emergancy, leave the store immediately

A large box weighting about 35 pounds has been delievered to your store. Your supervisor tells you to move it from the loading dock to where you keep your inventory. Which of the following is not correct in picking up 35-pound box.

Keep your feet close together

Laci was excited to open her gournment cookies shop. As a small busniess owner, she had to carefully determine what products she would sell, the price of those products, the place, or loaction of her physcial store and how she would promote her busniess. Laci is creating her:

Marketing Plan

Which category would the following action be categorized in: acknowledge and welcome the customer in a cheerful manner in attempt to establish a rapport?

Make a connection with the Customers

Who is typically first in a distrubition channel?

Manufacturer

________ is the amount of money that comes into a retail busniess minus expenes.

Margin

It was the end of the winter holiday season and the retail store was already beginning to recieve items for next holiday, Easter. What tatic should the store do to help make room for new items?

Mark down the holiday items

The Halloween holiday season just ended and the retail store was already beginning to recieve items for the next holiday, Thanksgiving. How should the store makr room for the new items?

Mark down the holiday items

What should a store do with their 4th of July merchandise on the 5th of July?

Mark down the merchandise

A sales associate in a video game store overhears a customer say that it is confusing to try to find things in the store. What should the sales associate do?

Mention the comment to the store management and suggest they install more signage.

Which of the following refers to the difference between revenue and all expenses, including the cost of goods sold and operating expenses.

Net Profit

Chuck works in an electronics store is supoposed to move large items from the storeroom to the store shelves. Chuck is able to move several large items at a time, but he is not using the back brace thathe was trained to use when moving heavy objects. Is Chuck managing his responsibilites wisely?

No- Chuck could seriously injure himself by picking up heavy loads improperly

The name of the agency or law that protects employees againsts hazards in the workplace is:

OSHA

Which of the following is not a cost associated with retailing?

Profit

You are a sales associate at a sporting goods store and the manager has noticed that green socks are not selling very fast. The manager challenges you to sell 15 green sock pairs for $3.00 each. Which of the following is the best action to achieve this goal?

Offer them to each customer while ringing them up

You are a sales associate at a stationery store and the manager has noticed that yellow pens are not selling. He asks you to sell 50 yellow pens for $1.00 each. Which of the following is the best action to achieve this goal?

Offer them to each customer while ringing them up.

Customers of a popular shoe store chain can purchase items in-store and on-line or via their mobile app. The customer also recieves texts and emails about current promotions and sales. This is an example of:

Omnichannel Retailing

A customer approaches a sales associate and asks if they have a size small in the pink t-shirt she is browsing. The sales associate does an I-Pad search and sees that there is 1 in their inventory meaning the inventory is _______

On-Hand

Alisha is creating her companys income statement, but shes unsure how she should classify employee salaries, advertising, and utlities. In which of the following income statement categories do these costs fall?

Operating Expenses

A supermarket has about 50 1 gallon milk jugs that are close to their expiration date. What would you recommend as a sales associate?

Place the jugs with the nearest expiration date in the front

The drawings or schematic diagrams created to visually represent the store and the way the merchandise should be displayed on the sales floor is called:

Planogram

_______ is a drawing or schematic design created to visually represent the store and the way the merchandise should be displayed on the sales floor.

Planogram

To determine the cost of oranges when checking out at the grocery store, the sales associate must enter a numberic code known as the ____ that identifies the bulk produce item.

Price Look-up (PLU)

Of the following, which is NOT part of a promotional strategy?

Pricing

Which of the following channels of distribution allows the producer to retain the tighest control over the distribution process:

Producer to Consumer

Mr. Wilson calls your store and tells you that he needs a large suitcase for a trip he is taking in less than a week. He says that the suitcase he has is too small. After looking at your website, he found a suitcase which he would like to purchase. That particular suitcase is not in stock, but you can order it for the customer. Which of the following should you do?

Provide a list of other stores in the area that sell luggage for the customer to call

The Goodwill Thrift Store was working on their pricing stragety. They decided to end all of their prices in .97, a few cents less than the round number. So instead of selling a pair of pants at $15.00, they would sell them at 14.97. This is an example of:

Psychological Pricing

The image to the right shows an example of which pricing strategy?

Psychological pricing

Sharon is a sales associate and recently changed the arrangement of merchandise on the sales floor and would like to determine wether the new setup is helping sales. Which is the best way for Sharon to accomplish this?

Pull sales reports from before and after the merchandising change and compare the associated sales figures.

A sales associate watches as a shopper exits leaving behind a cart full of merchandise including perishable items. Which of the following should the associate do?

Put the items back in the shelves, starting with the perishable items

While the season is changing from summer to back to school, a manager asks a sales associate for ideas on a sales stragety that will help clear out the remaining summer merchandise. Which of the following strategies is most likely to help reach this goal?

Reduce pricing on summer apperal by %60 or more and add incentivites for purchasing sunscreen, bathing suits, and tank tops.

A sales associate is being held at gun point as the robber demands the cash in the register. Which of the following should the associate do?

Remain as calm as posible and comply with the robbers request

A robber is pointing a gun at an associate and demanding all the cash in the register. Which of the following should the associate do?

Remain as calm as possible and comply with the robbers requests.

A customer is undecided on buying wireless headphones or traditional wired headphones, and seems to like the wireless headphones the best, but he is not sure about making the purchase. What should the sales associate do to encourage him to make the purchase?

Remind the customer about the return and exchanges policies & highlight the superioity in connectivity of the wireless headphones

What should a sales associate do if they find a product with the packaging broken on a shelf?

Remove the item from the shelf immediately and take it to the manager.

_______ is the inventory term that described the ability to scan large volumes of inventory or tagged items at a time.

Retail Frequency ID

The manager tells all employees that theres been an uptick in shoplifiting and asks all sales associates to keep an eye out. You come around a corner of an asile and see a woman pick up an expensive lipstick and put it in her purse without paying for it and she walks out the store doors. What should you NOT do?

Run after the lady and tell her to give the lipstick back to you

Winn Dixie is running a mix and match special with canned vegetables. Customers can pay $1.10 for any canned vegetable product or $10 for 10 canned vegetable products. Madeline is ready for check-out and has 2 Black Beans, 5 Kidney Beans, and 3 Golden Corn Cans. What would be the proper way to process the sale at the register?

Scan 1 Can of black beans and update the quantity to 2, 1 can of kidney beans and update the quantity to 5, and 1 can of golden corn and update the quantity to 3.

Several customers are checking out at the express lane with 10-15 items. There is a large sign that says the express lane is for customers with 5 items or less. The cashierś supervisor wants the 5-item enforced. What should the cashier do?

Serve the customers anyway

_______ is the most common type of preventable loss.

Shoplifting

You work in the pharmacy, and you find that one of the over-the-counter medicine shelves like the one depicted in the image are fairly empty. Why do you try to keep the shelves replenished?

So there are enough options available for the customers to purchase at all times

You find a jar of mayonnaise on the sales floor and it is broken. The first thing you should do is:

Stand near the broken item and direct customer traffic away

Which is not a proper safety technique when using a ladder?

Stand on the top step of the ladder

A customer is exiting the store and the alarm at the front of the store sounds, notifiying store employees that an electronic article surveillance tay may not have been deactivated. Whatś the best next step?

Stop the customer and ask them to review their receipt to ensure the item has been purchased. Then, deactivate the tag.

A customer is walking out of the store and the store alarm goes off notifying store employees that an electronic artictle surveillance tag may not have been deactiviated. What is the sales associates best next step?

Stop the customer and asks them to review their reciept to ensure the item has been purchased. Then, deactivte the tag

The clear, acrylic shelf where the luggage is stores is chipped on the edge. Shelby, a customer, accidently bumped her head into it when bending over to look at a piece of luggage. What kind of safety problem does this describe?

Struck-by injury

The "S" in MSRP stands for ______

Suggested

Jim is operating and opening a small online retail shop. What should he take into consideration when setting a retail price?

The cost of products, website service fees, competitor's prices, and the money you want to make on each item.

A shoe store is selling sandals, and a sales associate notices that a neraby department store is running a sale on sandals for the same price. What is the best strategy the associate can use to make sure the shoe stores sandals sell?

Use approved signage that advertises the sandals as the stores "Everyday Low Price"

_______ describes using the manufactors suggested price as a pricing stragegty used to prevent competitve between retailers.

Vendor Pricing

Folding clothing so that it looks nice when you display it for customers is part

Visual Merchandising

Which of the following pairs is an example of Direct Competitors:

Walmart and Target

The name of the law or the federal agency to which an employee can report unlawful or unsafe practices is:

Whistleblower Protection Act

A sales associate witnesses a customer slip on the floor and get back up immediatly without any visible injuries. What should the sales associate do next?

Write an incident report no matter how small the incident was

A sales associate left a pallet full of merchandise in front of the stockrooms emergancy doors and asked if this is a potential hazard?

Yes- if there is a fire in the store, that exit would be completely blocked

You are working as an overnight stocker in a high-volume grocery store and comes across four tubs of ice-cream with a sell-by date of two more days. Which of the following should the associate do?

You move the tubs to the front of the case and leave your manager a note, asking her to remove the items the next day if they do not sellsince they will expire the day after that.

Celine is a cashier at a shoe store. Stephanie, a customer at your register would like to buy a pair of shoes she has just tried on but now, the electricty goes out in the store. With the power outage, your POS device is not working. What should you do?

You tell Celine that you must first lock the store and then you will take her name and phone number so you can call her immedititly following power being restored. You then offer to ship the shoes to her home at no additional charge.

The most positive customer feedback a store can recieve is that they

carry a large selection of all products

The Inventory life cycle is disrupted when

merchandise is stolen or broken