Cat Man Example Test

If a product sales are not affected when the price of that product is increased you can say that the products pricing has low-elasticity. (T/F)

TRUE

It is important to look at promotions from the previous year when planning future promotions. (T/F)

TRUE

Which one of these statements best represents an attribute of a Club store? a. Club stores tend to have less operating expenses and less overhead so prices are generally lower b. Club stores offer a better value for consumers and as a result of that the channel is growing c. a Club store is less attractive to consumers because they can get similar items without paying a membership fee d. Club store prices are rising because Mass Merchandisers are becoming more competitive

a. Club stores tend to have less operating expenses and less overhead so prices are generally lower

With regards to base and incremental sales, which statement is true? a. base sales = the normal expected sales volume in the absence of any promotion b. incremental sales = the net difference of total promoted sales less all costs associated with running the promotion c. base sales = total sales of all products in distribution for at least 52 weeks (anything less is consider new item introductions) d. incremental sales = the portion of sales during any promotion that exceed baseline volume by at least 10%

a. base sales = the normal expected sales volume in the absence of any promotion

The easiest way to be able to do basic functions of copying, formatting even when you are not on the Home tab is to: a. right click in any cell and these functions are all available b. double click in any cell border and choose the desired function from the pop-up comment box c. left click in any cell and these functions are all available d. hold down the SHIFT button while pressing the TAB button and these functions are all available

a. right click in any cell and these functions are all available

To add data labels to an existing chart, what steps do you take? a. right click on the chart, select format data labels, and select your label options and label position b. left click on the chart, select format data labels, and select your label options and label position c. right click on the data ribbon/menu, select format data labels, and select your label options and label position d. left click on the formulas ribbon/menu, select format data labels, and select your label options and label position

a. right click on the chart, select format data labels, and select your label options and label position

Which of the following best describes three in-store retail factors affected by SKU proliferation? a. variety, placement and space b. everyday price, promoted price and frequency c. variety, rotation and ordering frequency d. customer service, reset schedules and product education

a. variety, placement and space

Which of the following data sources would be most valuable to use in setting item level pricing? a. weekly point of sales data b. warehouse shipment data c. consumer panel data d. loyalty data

a. weekly point of sales data

The statement "Brand A should receive 45% of promotion support because it generates 45% of category sales" is an example of: a. syndicated data analysis b. fair share analysis c. competitor analytics d. multiple regression analytics

b. fair share analysis

Which of the following best represents the primary concerns driving shopper purchase decisions? a. value, product ratings and time of day b. quality, value and convenience c. time of day, social media recommendations and magazine ads d. quality, flavors and social media ads

b. quality, value and convenience

Which answer will correctly sort the following data so that top selling store is at the top and smallest store is at the bottom? a. sort by "store #" in ascending fashion b. sort by "sales" in descending fashion c. sort by "sales" in ascending order d. sort by "store #" in descending fashion

b. sort by "sales" in descending fashion

Category Management was formally defined in the United States as the result of which joint industry project? a. EDLP b. ERP c. ECR d. CRM

c. ECR

Which of the following is not a benefit of efficient assortment planning? a. increased sales b. decreased inventory costs c. decreased consumer awareness d. reduced out of stocks

c. decreased consumer awareness

Why would a retailer use a "blended margin" strategy? a. to calculate total category margin by averaging all of the sub-category margins since syndicated data vendors only provide segment-level margin data b. to measure total department margin because syndicated data vendors only provide category-level margin data c. to balance the need where lower margins are needed on certain products and still achieving overall category margin by taking higher margins on other products d. to obtain a balanced view of market level margins by integrating syndicated margin data with internal margin data

c. to balance the need where lower margins are needed on certain products and still achieving overall category margin by taking higher margins on other products

Which of the following is not a question for assortment managers to address? a. what will meet the variety needs of targeted customers? b. how does my current variety image compare with competitors? c. which products have the highest slotting fees for placement? d. what are the cost benefit ratios of different levels of variety? e. what are product deletion criteria?

c. which products have the highest slotting fees for placement?

Excel and PowerPoint offer similar charting functionality. Why would it be beneficial to use an Excel Chart? a. you want to display your data range and chart on one easy page b. you are looking at a series of data and want to quickly see it represented on a chart c. you are creating a chart from data you refresh on a frequent basis. having this chart in Excel allows you to just update the data series and the chart will update automatically d. all of the above

d. all of the above

What does a pre and post promotion period sales analysis reveal? a. average lift in volume b. incremental volume over the entire promotion period c. profitability of the promotion activity d. all of the above e. a and c only

d. all of the above

Which of the following is the least likely to be a part of a typical retailer's role in the category management process? a. set strategy b. establishes a specific category management process c. gathers data d. product development research e. ensures compliance

d. product development research

Does PowerPoint include a spell-check feature and if so, where is it located? a. no, but you can use Microsoft Word's Spell-check feature and then export back into PowerPoint b. yes, you can find the spell-check feature by right clicking on the Slide Show ribbon/menu c. no, PowerPoint does not include a spell-check feature so you will want to proofread carefully d. yes, you can find the spell-check feature on the REVIEW ribbon/menu

d. yes, you can find the spell-check feature on the REVIEW ribbon/menu

Which of the following are basic analyses used to identify what items to carry by category? a. fair share analysis b. SKU productivity c. market gap analysis d. consumer decision tree analysis e. all of the above

e. all of the above