CMKG CPCM Practice Exams

True (Control test)

True or false? A Control Store Test can provide data validation on in store tests done across multiple stores.

True (cat assess)

True or false? A category assessment identifies category growth opportunities.

False (demand index)

True or false? A demand index measures whether the target product group has been sold in a store.

B. False. GMROI rates need to be compared to other category or vendor results in order to conclude efficiency.

True or false? A minimum GMROI of 2.0 should be attained in order to achieve inventory efficiencies across the store. A. True. The minimum is required to achieve payout on inventory holding costs. B. False. GMROI rates need to be compared to other category or vendor results in order to conclude efficiency.

A. The chart will automatically update when the syndicated scanner data is updated

"Dynamically linking ' syndicated scanner data to Excel or PowerPoint charts will result in which of the following? Choose the best answer. A. The chart will automatically update when the syndicated scanner data is updated B. The chart data can be toggled to show syndicated or scanned sales data C. The chart data automatically connects to real-time, store scanned sales data D. The chart objects (e.g. bars/pies) can be filled with the product's image instead of solid colors

6 steps of Root Cause Analytics

1. Define the problem. 2. Determine the reasons for the problem. 3. Determine the underlying conditions that give rise to the reason for the problem. 4. Design a solution. 5. Implement the solution. 6. Evaluate the success of the solution.

D. Cannibalization

A Retailer introduces a new item in Category A that causes Category B buyers to switch their purchases from Category A to Category B. What is this an example of? A. Brand extension B. Incremental contribution C. Product Line extension D. Cannibalization

A. $48,077 (WORK=SPPD * Increased # Dist Points... 125,000/65=1,923... 1923*(90-65)=48075)

A SKU delivers $125,000 in sales and has a total of 65% ACV distribution. What is the dollar opportunity gap if it reaches an ACV distribution target of 90%? A. $48,077 B. None of these answers are correct C. $44, 000 D. $90,278 E. $31,250

A. Product line extension

A Supplier decides to introduce a new product size in Brand A, which is a 12-pack of smaller-sized products than the original lineup. What is this an example of? A. Product line extension B. Brand extension C. Cannibalization D. Incremental contribution

Sales Index

A comparison between a store's sales with the chain's average sales

Product Demand Index

A comparison between the % ACV sales in a specific product group within a geography and the % of households within a geography

Demand Index

A comparison between the % of households in specific demographics in a region vs a specific store. Identifies stores which skew high in certain demographic profiles

C. Leakage analysis

A retail category manager analyzed the % of dollars they were capturing in the widget category, and the percentage they were losing to competition. Which of the following best describes this type of analysis? A. Demographic analysis B. Pareto analysis C. Leakage analysis D. Category analysis

B. Incremental Contribution

A retailer introduces a new item in the widget category and offers it at a premium. Buyers that usually buy lower-priced widgets decide to try the new item instead of the widget items they usually buy. What is this an example of? A. Product Line Extension B. Incremental Contribution C. Brand Extension D. Cannibalization

D. Days of supply

A retailer needs to order more stock on an item because it will run out of stock in 10 days. What space management measure provides this information? A. Capacity analysis B. Number of facings C. Post-reset tracking D. Days of supply

B. New shelf set evaluation

A retailer's category management team analyzes the metrics for the new planogram versus the old planogram and continues to track results over time. What is this process called? A. Control store test evaluation B. New shelf set evaluation C. Inventory evaluation D. Planogram SKU evaluation

A. The retailer's Category share is higher than their ACV share

A retailer's index vs ACV for a category is 103. What is the MOST ACCURATE conclusion from this number? A. The retailer's Category share is higher than their ACV share B. None of these answers are correct C. The retailer is underdeveloped in this category D. The retailer is overdeveloped in the category

C. Turf protecting, profit generating, cash generating

After developing measurable category objectives what are some examples of category strategies that can support the objectives? A. Price generating, turf protecting, promotional advertising B. Promotional advertising, price generation, product mobility C. Turf protecting, profit generating, cash generating D. SKU proliferation, turf protecting, traffic building

C. All Commodity Volume, calculated by summing up the total of all category sales within a geography (market, channel, or retailer), to get a "Total ACV" number.

An effective way for retailers to benchmark themselves against the market is through an "Index vs ACV" calculation. What is ACV and how is it calculated? A. All Channel Volume calculated by summing up the volume of all categories within a channel to a "Total ACV". B. None of the answers are correct. C. All Commodity Volume, calculated by summing up the total of all category sales within a geography (market, channel, or retailer), to get a "Total ACV" number. D. All Category Volume calculated by summing up the volume of all items within a category to a "Total ACV" number.

66 (WORK= (1) Sales per $MM ACV: 10,000/25=400 (2) Sales Index: (400/600)*100=66.6667)

Calculate the "Sales Index" based on the following information: • Store Units: 10,000 • Store ACV $: $25 million • Chain Sales per $MMACV: 600 Type your numeric answer in the space below.

A. 625.0 (Work = sales units or $ / the market's ACV / 1 000 - 20,000 /$32,000) x 1000))

Calculate the "Sales per $MM ACV" based on the following information: -Store sales in units per year: 20,000 -Store ACV$: $32,000,000 A. 625.0 C. 640.0 B. 1260.0 D. 1.6

C. 625.0 (Work = sales units or $ / the market's ACV / 1 000 - 20,000 /$32,000) x 1000))

Calculate the "Sales per $MM ACV" based on the following information: -Store sales in units per year: 20,000 -Store ACV$: $32,000,000 A. 640.0 B. 1260.0 C. 625.0 D. 1.6

C. 1189 demand index, indicating the store has a high % of households in the Mid/Upscale Suburbs with Kids relative to the market.

Following is some data about the "Mid/Upscale Suburbs Age 18-34 with Kids" demographic segment for the market and for store #55: · % households in market: 0.28 · % households for store #55: 3.33 Calculate the demand index based on this information and select the best answer (including demand index and interpretation) from the answers below. A. 840 demand index, indicating the store has a low % of households in the Mid/Upscale Suburbs with Kids relative to the market. B. 1189 demand index, indicating the store has a low % of households in the Mid/Upscale Suburbs with Kids relative to the market. C. 1189 demand index, indicating the store has a high % of households in the Mid/Upscale Suburbs with Kids relative to the market. D. 840 demand index, indicating the store has a high % of households in the Mid/Upscale Suburbs with Kids relative to the market.

A. Minimize days of supply and maximize stock availability.

From a retailer's perspective what is the key balance equation as it relates to inventory on shelf? A. Minimize days of supply and maximize stock availability. B. Maximize days of supply and minimize stock availability. C. Minimize days of supply and minimize stock availability. D. Maximize days of supply and maximize stock availability.

A. Share of features by brand divided by the brand's dollar share within the category

How do you determine fair share of features for a brand? A. Share of features by brand divided by the brand's dollar share within the category B. Dollar sales sold on feature divided by total dollar sales for a brand C. Share of features by brand for the market minus share of features by brand for the retailer D. Promoted sales share by brand minus base sales share by brand

C. 25.4 (Work =245/964 (Brand $ sales / Category $ sales))

If Brand X has dollar sales of $245M and unit sales of 500 units, and the category has dollar sales of $964M and equivalent volume sales of 1500, what is the share of category sales for Brand X? A. 3.3 C. 25.4 B. 3.9 D. 10.0

D. $106,250.00 (Work =Sales / AC Distribution... = 8,500,000/80)

If a SKU has achieved $8,500,000 in sales and has 80% ACV distribution, what is its Sales per Point of Distribution (SPPD)? A. $531.25 B. $1,062.50 C. $106.25 D. $106,250.00

32.4 (WORK= (7.99-5.4)/7.99*100= 332.4))

If an item cost $5.40 and had a retail price of $7.99, what is its gross margin % ?

87.5 (Work= (Retail Price — Cost) / Cost = ($7.50-$4.00/4.00))

If an item has a cost of $4.00 and a retail price of $7.50, what is its markup % (round to 1 decimal place)?

37.6 (Work= 1-(Reduced price/original price) .... 1-(2.49/3.99))

If an item has an original retail price of $3.99 and is now selling at a reduced price of $2.49, what is the markdown %?

6 (Work =Annual COGS / Average Inventory Level - =450,000/75,000)

If an item has average inventory levels of $75,000 and annual cost of goods sold of $450,000, what is its inventory turns?

175 (Work = (Beginning Inventory + Cost of Goods Purchased) - Ending Inventory - 125+300-250)

If the cost of goods purchased = $125, the beginning inventory was $300 and the ending inventory was $250, what was the cost of goods sold?

C. All of these are important reasons

In geodemographic behavioral analysis, why would it be important to know about a change in a consumer's marital status? A. The consumer may decide to buy more or less of a particular product B. The consumer may decide to buy a different brand or product C. All of these are important reasons D. A change in marital status may lead to a change of lifestyle

B. Cross Docking

Increased product flow and reduced handling expenses are the MOST IMPORTANT benefits of what distribution strategy? A. Direct to Stores B. Cross Docking C. Electronic Data Interchange D. Centralized Warehousing

B. Maximized profit within the planogram.

Of the following benefits to planogram development for retailers and manufacturers, which one LEAST benefits the all-important shoppers? A. Consistent category presentation store to store. B. Maximized profit within the planogram. C. Product positioning based on decision tree. D. Shelf plans align to shopping preferences.

A. Current Assets

On the Retailer's balance sheet which line captures merchandise inventory? A. Current Assets B. Capital Assets C. Amortization D. Current Liabilities

D. The target number of items to list in a category based on the 80/20 rule

Pareto Curve analysis helps you to determine: A. Which items to list in a category B. How many items to delist in a category C. None of these answers are correct D. The target number of items to list in a category based on the 80/20 rule

14.4 ((WORK = 520 units per year / (6 facings x 6 units per facing) = 14.4)

Product A has 6 facings and holds 6 units per facing. Its weekly movement is 10 units per week (520 units per year). What are the inventory turns for Product A? Type in your answer as a number with one decimal place (example "10.2").

A. 5 (WORK= sum the cumulative segment shares of the items for total market until they add up to >80 market coverage ....24.9+22.7+17.4+11.4+8)

Refer to the Diagram. If the retailer's market coverage objective is 80, how many SKUs should they carry in this segment to meet their objective? -Retailer Volume/(Market) Share: · Brand A Item 1: 26.4 · Brand A Item 2: 22.1 · Brand A Item 3: 23.5 · Brand A Item 4: 11.4 · Brand A Item 5: 19.0 · Brand C Item 1: 0.0 · Brand A Item 6: 73.3 -Market Volume/(Segment) Share: · Brand A Item 1: 24.9 · Brand A Item 2: 22.7 · Brand A Item 3: 17.4 · Brand A Item 4: 11.4 · Brand A Item 5: 8 · Brand C Item 1: 8 · Brand A Item 6: 1.2 A. 5 B. 2 C. 4 D. 6

A. They need to determine a balance between inventory on shelf and restocking frequency.

Refer to the graph. Which of the following gives the BEST considerations that retailers need to make regarding stock levels and labor on weekdays vs weekends? · Chart- Avg Hourly Unit Sales o Avg unit sales per hour weekday: way lower than weekend/ random peaks o Avg unit sales per weekend: higher than weekdays/ curve shape over random peaks A. They need to determine a balance between inventory on shelf and restocking frequency. B. They need to balance stock levels between weekdays and weekends. C. They need to determine if they want to stock the shelves to meet peak demands (which increases inventory costs). D. They need to determine if they want to stock the shelves more frequently (which increases labor requirements).

E. Small

Refer to the table. In which segment is the retailer MOST developed vs total market? · Ground: Retailer = 8.8 (-7.0 % Growth) / Market = 58.1 (16 % Growth) · Instant: Retailer = 11.0 (-6.0 % Growth) / Market = 35.1 (-8 % Growth) Beans: Retailer = 8.3 (18 % Growth) / Market = 11.6 (-7 % Growth) · Small: Retailer = 11.7 (-7.0 % Growth) / Market = 11.6 (-11 % Growth) · Medium: Retailer = 10.8 (3.0 % Growth) / Market = 51.8 (2 % Growth) Large: Retailer = 8.2 (24.0 % Growth) / Market = 36.0 (27% Growth) A. Beans B. Instant C. Ground D. Large E. Small

A. Ground and Large

Refer to the table. In which two segments is the retailer losing the most market share? · Ground: Retailer = 8.8 (-7.0 % Growth) / Market = 58.1 (16 % Growth) · Instant: Retailer = 11.0 (-6.0 % Growth) / Market = 35.1 (-8 % Growth) Beans: Retailer = 8.3 (18 % Growth) / Market = 11.6 (-7 % Growth) · Small: Retailer = 11.7 (-7.0 % Growth) / Market = 11.6 (-11 % Growth) · Medium: Retailer = 10.8 (3.0 % Growth) / Market = 51.8 (2 % Growth) Large: Retailer = 8.2 (24.0 % Growth) / Market = 36.0 (27% Growth) A. Ground and Large B. Beans and Medium C. Ground and Medium D. Beans and Large

A. 2 members

Refer to the table. This table captures demographic results based on household size within a category. What household size represents the highest share of sales for the Price (Value) tier? · Price Tier Distribution of volume and volume index: o 1 member = 12.8 (51 index) o 2 member = 32.8 (105 index) o 3 member = 19.2 (116 index) o 4 member = 21.7 (131 index) o 5+ members = 18.5 (130 index) A. 2 members B. 1 member C. 5 or more members D. 4 members E. 3 members

B. The test stores performed better than the control stores by 12 percentage points

Review the table that shows results of an in-store test. Which is the correct conclusion you can draw from this data? · Test Stores o Trend during pre-test = +4% o Trend during test period = +9% o Change = +5 pts · Control Stores o Trend during pre-test = +12% o Trend during test period = +5% o Change = -7 pts A. The control stores performed better than the test stores by 7 percentage points B. The test stores performed better than the control stores by 12 percentage points C. The control stores performed better than the test stores by 12 percentage points. D. The test stores performed better than the control stores by 2 percentage points

B. consumer

Scanner data provides a market understanding, while panel data provides a ______________ understanding. Fill in the blank. A. rest of market B. consumer C. channels D. competitive

B. Comp stores

The Retailer POS measure type that allows you to track organic growth is: A. Markup % B. Comp stores D. Fair share index E. % change vs year ago

B. Shelf capacity

The bottom shelf in a gondola is usually deeper than the other shelves, and has more: A. Linear Feet B. Shelf capacity C. Profit per foot D. Facings

A. Product, geography, time period

The data cube describes market facts along what 3 dimensions for a specific data measure (example % ACV)? A. Product, geography, time period B. Business measure, geography, time period C. Product, geography, data type D. Business measure, product, geography

C. Penetration, buying rate, frequency, and purchase size before and after introduction.

To determine if new items in a category have brought in new buyers to the category, what should you compare? A. Share of Wallet and buying rate to total category volume for the previous year comparable period. B. Buying rate, frequency, and purchase size before and after introduction. C. Penetration, buying rate, frequency, and purchase size before and after introduction. D. None of these answers are correct.

C. Maintains focus on the correct business issues, opportunities, and questions

Too much data can overwhelm the category manager unless they do which of the following? A. Maintains spending versus competitor spending B. Maintains focus on their competitor's business issues, opportunities and questions C. Maintains focus on the correct business issues, opportunities, and questions D. Maintains spending against category budget

B. False. High gross margin % doesn't always translate to high gross margin dollar generations.

True or false? High gross margin % translates to high gross margin $ for the retailer. A. True. The higher the gross margin %, the higher the gross margin $ generations. B. False. High gross margin % doesn't always translate to high gross margin dollar generations.

True (share)

True or false? If a retailer sells $135 million in 13 weeks and grew 20% vs year ago and the Market sells $500 million in 13 weeks and grew 18% versus a year ago then the retailer is gaining $ share.

B. False. You can still segment item level data based on common segments like size, format, subcategory, price tier, without a consumer decision tree.

True or false? If you do not have access to a consumer decision tree you should not attempt to segment the data. A. True. You should not segment item-level data if you do not have a well-researched CDT. B. False. You can still segment item level data based on common segments like size, format, subcategory, price tier, without a consumer decision tree.

B. False. Different target Shoppers will determine the assortment choices for different Retailers.

True or false? Item level assortment within a category should be the same across retailers within the same channel. A. True. Assortment choices are driven by the overall consumer shopping in the market. B. False. Different target Shoppers will determine the assortment choices for different Retailers.

False (loyalty card)

True or false? Loyalty Card Data is included in the syndicated scanner data set.

False (POS)

True or false? Manufacturers can share any retailer's syndicated POS data with any other retailer.

True (product mix)

True or false? Product mix is an important tactic for retailers to optimize for shopper satisfaction.

False (Point of sale)

True or false? Retailer point-of-sale data is available in a consistent and standardized format across different retailers.

A. True. Store size, geography and climate, consumer purchase behavior and consumer demographics are all attributes that can affect differences across stores.

True or false? Retailers should cluster their stores based on more attributes than volume and store size for better Shopper focus A. True. Store size, geography and climate, consumer purchase behavior and consumer demographics are all attributes that can affect differences across stores. B. False. Store size and volume create effective segments that focus on consumer differences without the complexity.

False (space analysis)

True or false? Space Analysis should begin with a total store overview.

B. False. Store clustering considers more than just geography and focuses more on the shopper.

True or false? Store clustering and geographic grouping are different terms for the same thing. A. True. Both of these terms describe the same approach to grouping stores. B. False. Store clustering considers more than just geography and focuses more on the shopper.

True (cannibalization)

True or false? The opposite effect of incremental contribution is cannibalization.

True (shelf)

True or false? When making a shelving recommendation change you should evaluate shopper needs and the competitive marketplace.

A. For both the latest four-week period and year to date, the single-store trend underperformed vs the cluster trend

Using the beer data in this store-level example, what can you say about the Heineken trend at the single store when compared to the store cluster? · Single Store: o Latest 4 Wks § Trend = -34.7 § Share = 2.3 § Pt chg = -1.3 § Sales = 30 o Year to Date § Trend = -11.7 § Share = 3.0 § Pt chg = -0.3 § Sales = 452 · Store Cluster: o Latest 4 Wks § Trend = -16.4 § Share = 2.8 § Pt chg = -0.6 § Sales = 149 o Year to Date § Trend = -2.0 § Share = 3.5 § Pt chg = 0.1 § Sales = 2,162 A. For both the latest four-week period and year to date, the single-store trend underperformed vs the cluster trend B. Year to date, the single-store trend outperformed the cluster trend C. Year to date, the single-store trend is nearly equal to the cluster trend D. For the latest four-week period, the single-store trend outperformed the cluster trend

E. Any of these options

When a Retailer is evaluating the "sales" line in their income statement, they should be compared to: A. Either Year Ago or Previous Period B. Budgets C. Previous Period D. Year Ago E. Any of these options

E. Shelf inventory

Which of the following attributes is not customarily used to create store clusters? A. Consumer purchase behavior B. Shopper demographics C. Geography / location D. Store volume (units and dollars) E. Shelf inventory

A. Consumer, Category, Company, Competition

What are the four key areas (or perspectives) that should be considered in a category review (also known as the "4 C's")? A. Consumer, Category, Company, Competition B. Consumer, Category, Communications, Culture C. Category, Culture, Competition, Captaincy D. Category, Competition, Consolidation, Conversion

A. All of these answers are correct.

What could be a purpose of a total store space analysis project? A. All of these answers are correct. B. To determine the amount of space each category deserves, according to the criteria used by the retailer. C. To be certain that a category is getting its fair share of space. D. To benchmark every category's space in the store.

C. It is a process used to determine how to perform a root cause analysis

What is a causal factor tree? A. This is a methodology which identifies the undesirable fault tracing all of the initiating faults that must occur first in order for the top-level fault to occur B. It is a method to determine why a segment is down between two categories C. It is a process used to determine how to perform a root cause analysis D. It is a process used to identify performance issues among groups

B. To compare store performance across a banner

What is the MOST important reason for category managers to use store level data in their category analysis? A. All of these answers are equally important B. To compare store performance across a banner C. To compare one store's data to competitive stores in the same area D. To cluster stores based on scanned sales results

A. Base sales are estimated product sales expected to generate during a non-promoted week. Incremental sales are product sales that would not have sold without the promotion

What is the difference between base sales and incremental sales? A. Base sales are estimated product sales expected to generate during a non-promoted week. Incremental sales are product sales that would not have sold without the promotion B. There is little difference between base and incremental sales except that it varies by retailer C. Base sales are an estimated amount of sales for a product on a weekly basis. Incremental sales are the actual amount that was sold over the same time period D. Base sales are the actual amount of sales generated from a promotion. Incremental sales are estimated sales expected to generate on non-promoted weeks

B. UPC

What is the foundational data element used to organize and measure product performance in household panels? A. Department codes B. UPC C. Demographics D. Region

A. Analyzing the way consumer behavior and lifestyle interact

What is the most important element of geodemographic behavioral data analysis? A. Analyzing the way consumer behavior and lifestyle interact B. Creating accurate demographic profiles C. Grouping consumers according to their stages of life D. Grouping consumers according to their lifestyle

D. It gives an external perspective of the total market that consumers are shopping in.

What is the most important reason for retailers to benchmark themselves against more than the channel which they compete within? A. It gives competitive perspective to understand them vs their closest channel competitor. B. It gives the consumer's perspective to understand their shopping behaviors. C. None of these answers are correct. D. It gives an external perspective of the total market that consumers are shopping in.

D. Shopper shadowing

What of the following is the best example of ethnographic research? A. Shopper segmentation B. Shopper insights C. Panel data development D. Shopper shadowing

C. Consumer panel data

What source of data provides purchase behavior metrics and demographics that can be used in category management work? A. Loyalty card data B. Retailer POS data C. Consumer panel data D. All of these data types are equally important E. Retailer measured data (market data)

C. Qualitative and quantitative research

What type of research includes in-depth surveys, focus groups, observational, video monitoring, and ethnographic research? A. Tracking studies B. In-store shopper research C. Qualitative and quantitative research

A. Ensuring the loyalty card data updates correctly.

What's the least important consideration when creating a monthly updated store-level report from syndicated scanner data? A. Ensuring the loyalty card data updates correctly. B. Planning for new store openings or closures. C. Identifying key performance indicators. D. Planning for new products that may be introduced after the report is created.

C. Vary promotions, including feature & display activity, between the test and control stores in both the pre-test period and the test period.

When completing an in-store test, which of the following activities should NOT be done to set up an effective test? A. Conduct the in-store test for a period of 13 weeks. B. If stores shelves are reset for the test, include a one-week gap between the completion of the resets and the start of the test period. C. Vary promotions, including feature & display activity, between the test and control stores in both the pre-test period and the test period. D. Include a pre-test period that lasts the same length of time as the test period.

D. Variety and capacity

When deciding which products to carry, what are the two most important factors that retailers must keep in balance? A. Number of potential facings and capacity B. Linear space optimization and capacity C. Out-of-stocks and turns D. Variety and capacity

C. When it is "rolled up" to include and reflect channel and market data

When is retail measurement data (scanned sales data) considered to be syndicated data? A. When it is segmented into product groupings including brand, subcategory and category level data B. When it includes retail scanned sales data for total stores, across banners and geographies C. When it is "rolled up" to include and reflect channel and market data D. When it combines retail scanned sales, supplier shipment and market data E. None of the these options are correct

C. To help identify, explore, and display possible causes related to a problem or condition

When would a cause and effect diagram be effective in category management analysis? A. To show similarities and differences in assessing scanner data versus panel data sources B. To decide whether or not to alter the space planning scheme for the product category based on the volume sold C. To help identify, explore, and display possible causes related to a problem or condition D. To illustrate what happened in a category over a three to six-month period

A. Using multiple workbooks

Which functionality would be least effective when analyzing large volumes of syndicated scanner data in Microsoft Excel? A. Using multiple workbooks B. VLOOKUPs C. Pivot tables D. Pivot charts

A. Annual Profit/Average Inventory Cost

Which is the correct formula for GMROII? A. Annual Profit/Average Inventory Cost B. Annual Profit/Total Inventory Cost

C. Calculate the sales between the pre-test and test periods for both the control store group and the test store group. Then calculate and compare the changes between time periods for both the test and control store groups.

Which of the following BEST describes the procedure for analyzing the results of an in-store test? A. Choose one store from the test group and the control group. Then calculate and compare the changes between the pre-test period and the test period. B. Calculate the change in sales between the pre-test period and the test period for a sum of control and test stores. Then compare the change between the two periods for this total store group. C. Calculate the sales between the pre-test and test periods for both the control store group and the test store group. Then calculate and compare the changes between time periods for both the test and control store groups. D. Calculate the sales from the test period for both the control store group and the test store group. Then calculate and compare the difference in sales between the groups.

A. The potential to have high demand for the product

Which of the following BEST describes what a product demand index measures? A. The potential to have high demand for the product B. The relative sales of the product to total store results C. The consumer measured demand for a product based on survey results D. None of these answers are correct

C. Increased purchase cycle

Which of the following actions would have the least impact on growing category sales? A. Increased transaction size B. Increased purchase frequency C. Increased purchase cycle D. Increased penetration

C. Competitive pricing analytics

Which of the following analyses is not enabled by the use of POS data? A. All of these are examples of analytics enabled by retailer POS data B. Inventory balancing C. Competitive pricing analytics D. Seasonality evaluation E. Transactional data analysis

A. Market basket analysis

Which of the following analyses provides the information about other products that are purchased at the same time as a specific category? A. Market basket analysis B. Geodemographic analysis C. Leakage tree analysis D. Syndicated scanner data analysis

C. Use panel data to determine which item has higher loyalty or contributes more total basket dollars among the retailer's shoppers.

Which of the following analyses would be MOST effective to help you determine which of two items with similar sales and margin performance should be kept when completing an assortment analysis? A. Conduct an in-store survey to determine shopper preferences between the two products. B. Keep the item that has been carried the longest, in order to maintain the retailer's customer base. C. Use panel data to determine which item has higher loyalty or contributes more total basket dollars among the retailer's shoppers.

A. Market shares. Through a compilation of banners in the data.

Which of the following analytics is NOT available in retailer POS data? A. Market shares. Through a compilation of banners in the data. B. All of these analytics are available in retailer POS data. C. Trends. Through time variations available in the data. D. Sales and profit analysis. Through total store, aisle, department, brand, and segment. E. Shopper insights. Through transactional and shopping basket data.

B. Regression analysis

Which of the following analytics would be least effective at identifying opportunities to grow category sales? A. Fair share analysis B. Regression analysis C. Opportunity gap analysis D. Buyer conversion analysis

E. All of these answers are important

Which of the following are important in establishing effective store clusters? A. Resource capacity to manage multiple clusters B. Analytical horsepower / computer capability C. Access to detailed demographics and item attribution D. Proper data storage capacity E. All of these answers are important

D. Information is gathered from a panel of consumers who record their purchases over a period of time.

Which of the following best describes how consumer panel data is developed? A. A 3rd party data company develops panel data by auditing shopper behavior in-store. B. Retail scanned sales data is combined by a panel to create market panel data. C. Retailers send scanner data to a syndicated data provider to compile market data. D. Information is gathered from a panel of consumers who record their purchases over a period of time.

C. In-store shopper research

Which of the following best describes information collected by observing consumers while they shop followed by asking them a defined set of questions? A. Qualitative and quantitative research B. Tracking studies C. In-store shopper research

C. Volumetric measures (e.g. dollar and unit sales)

Which of the following components in consumer panel data is LEAST accurate to use? A. All are accurate B. Consumer purchase behavior C. Volumetric measures (e.g. dollar and unit sales) D. Demographic measures

B. Household panel data

Which of the following data sources includes information collected by consumers who scan their purchases and are then compiled into a syndicated data source? A. Syndicated scanner data B. Household panel data C. Geodemographic data D. Retailer point-of-sale data

C. Retailer point-of-sale data

Which of the following data sources is internal sales data collected by retailers? A. Syndicated scanner data B. Geodemographic data C. Retailer point-of-sale data D. Household panel data

D. A model that spreads the cost of a company's activities evenly across all the company's products

Which of the following descriptions does not describe activity-based costing? A. A model that assigns the cost of a company's activities to all the company's products, according to the amount each product actually consumes B. A model that translates indirect costs into direct costs C. A model that accounts for the cost of overhead in the cost of a company's products D. A model that spreads the cost of a company's activities evenly across all the company's products

E. All would add value to the assessment

Which of the following dimensions would NOT add value in a category health assessment? A. Category tactics B. Competitive activity C. Category trends D. Economic trends E. All would add value to the assessment

B. Ensure the data has all of the same measures

Which of the following is LEAST important when combining data resources to establish insight? A. Use the appropriate time periods for evaluation B. Ensure the data has all of the same measures C. Consider the strengths and weaknesses of each data resource D. All of these are equally important E. Use relative comparisons vs absolute comparisons

B. A comparison can be made between an individual store's data and competing stores within the same area.

Which of the following is NOT a reason to use a Retailer's store level point of sale data? A. A comparison can be made on how a specific store (or group of stores) performs compared to other stores in the chain. B. A comparison can be made between an individual store's data and competing stores within the same area. C. Store-level data can be used to "cluster" stores that have similar attributes together to analyze sales performance. D. All of these answers are correct

D. All of these are accurate as it relates to geodemographic analysis.

Which of the following is NOT accurate as it relates to geodemographic analysis? A. It helps to determine store clusters with multiple attributes. B. It helps to better understand the Consumer / Shopper. C. It requires performance data (including POS data, shipment data, 3rd party data) at a zip or postal code level. D. All of these are accurate as it relates to geodemographic analysis. E. It requires insights data (including census data, store location data, consumer data, demographic data, etc.) at a zip or postal code level.

A. A widget category shopper usually buys widgets at Retailer X. While doing his grocery shopping at Retailer Y, he notices a floor display and decides to buy his widgets at Retailer Y instead of Retailer X.

Which of the following is an example of buyer conversion? A. A widget category shopper usually buys widgets at Retailer X. While doing his grocery shopping at Retailer Y, he notices a floor display and decides to buy his widgets at Retailer Y instead of Retailer X. B. A widget category shopper usually buys one case of widgets at Retailer X while he's doing his grocery shopping. He's buying supplies for a trade show event later in the month, so he makes a special trip to Retailer X to buy widgets for the event. C. A widget category shopper goes to Retailer X to buy widgets, but finds his favorite brand is out of stock. He decides to wait and buy the widgets on his next visit to Retailer X.

B. Scanner data gives perspective on a category sales and share results, while panel data gives perspective on what consumer behavior drove the sales results.

Which of the following is the BIGGEST difference between scanner data and panel data? A. Scanner data is based on a larger sample and is more accurate than panel data. B. Scanner data gives perspective on a category sales and share results, while panel data gives perspective on what consumer behavior drove the sales results. C. Scanner data helps you to understand the consumer, while panel data help you to understand the category sales. D. Scanner data is based on consumer purchase behavior, while panel data is based on point of sale data.

D. The ability for Retailers to track/measure detailed cost data

Which of the following is the biggest limitation to applying activity-based costing? A. The time it takes to collect and report the data B. The ability for data providers to create the data C. The ability for Suppliers to accurately use the data D. The ability for Retailers to track/measure detailed cost data

D. In stock / out of stock

Which of the following measures can be MOST influenced by ghost inventory, visual out of stocks and location of inventory in the store? A. Shelf capacity B. GMROI C. # of Facings D. In stock / out of stock

C. All of these statements are correct.

Which of the following statements are true as it relates to shelf management? A. The number of facings is sometimes referred to as "NOF". B. Planogram performance should always be measured after implementation to determine whether planogram changes are having the desired effect. C. All of these statements are correct. D. Dollar, unit and profit shares are key measures that retailers can benchmark vs linear feet to measure planogram performance.

B. All of these are justifications for expanding category space

Which of the following would be a valid reason for increasing category space in a retail store? A. Changes in category profitability B. All of these are justifications for expanding category space C. Changes in consumer preferences or behavior D. Changes in category role E. Category growth

C. Use a market basket analysis to determine what other categories are most frequently in the category shopper's basket.

Which of the following would be the BEST analysis to determine cross-merchandising opportunities to boost a category's sales? A. Combine syndicated scanner data analysis with retailer POS data analysis to analyze category performance. B. Conduct an in-store survey to determine shopper preferences across all categories. C. Use a market basket analysis to determine what other categories are most frequently in the category shopper's basket.

E. Reducing inventory turns.

Which of the following would be the least likely retailer's shelf strategy? A. Implementing narrow assortment for convenience categories. B. Shelving to shopper preferences. C. Reducing excess inventory. D. Implementing broad assortment for destination categories. E. Reducing inventory turns.

A. A common identifier across the data sets

Which of the following would be the most important consideration when combining different data sets to analyze store-level performance? A. A common identifier across the data sets B. A common platform to integrate the data into C. Determine the duration of data queries D. Definition of core metrics to report

D. To identify potential assortment, pricing, and promotion opportunities for the retailer from the marketplace.

Why is it important to compare a retailer's point-of-sale data with syndicated market-level data? A. Retailers' POS data can be inaccurate and inconsistent. B. Syndicated data cannot be integrated with retailer's point-of-sale data because it measures different consumers. C. Syndicated data is more accurate than retailer's POS data and offers a store-level view of sales trends. D. To identify potential assortment, pricing, and promotion opportunities for the retailer from the marketplace.

B. The data may have item discrepancies and UPC rollup errors.

Why should you "cleanse" point-of-sale data before analyzing it? A. The data may be added directly to power point slides. B. The data may have item discrepancies and UPC rollup errors. C. The data was sent from a syndicated data service and must be converted to point-of-sale. D. The data was sent in a hard copy format.

B. All of these answers are correct

Why would a retailer choose to use point-of-sale data instead of syndicated data? A. The retailer prefers to analyze their own data B. All of these answers are correct C. The retailer wants to complete a store-level analysis D. The retailer wants to compare product margins

B. Geodemographic data

______________________ can be used to create demographic profiles for products and retailers, measure product demand by store and zip code, and identify leisure activities for target consumers. A. Syndicated scanner data B. Geodemographic data C. Household panel data D. Retailer point-of-sale data