Retail exam review
When should a store mark down its products? A. When sales are low and/or a season has ended. B. When customers complain that the item is too expensive, c. When its competitor marks down the same product. D. When they arent selling fast enough.
A
Which of the following do retailers use most often to determine how much their products will sell? A. Historical data and trends B. RFID technology C. POS system D. Stocking
A
Which of the following is considered a marketing strategy? A. Advertising B. Inventory Control C. Distribution D. Supply Chain
A
You work in an equipment rental department at a hardware store and a customer comes looking for a pressure washer to wash the exterior of his house but isn't sure about what PSI (pounds per square inch) is sate to use. You are new at your job, so you don't know the answer. What would be the BEST thing to do? A. Ask another associafe at the store that might now what's the recommended PSI for power washing a house. B. Look up the answer online. C. Give the customer the pressure washer with the lower PSI just to be safe. D. Tell the customer that you dont know the answer to that.
A
Dal, the buyer for a smal produce store in town, sells 30 bags of honey crisp apples at 510 per bag. His cost of goods sold per bag is $1.00. What is Dale's gross profit? • A 270 • в. 300 • c. 220 • D.500
A. 270
Il one bag of potatoes costs 55.50 for the retail store to buy from the supplier, and they charge the customer $8.5 per bag and sold a total of 39 bags, what is their total revenue? A 329.55 • в. 115.05 с. 39 • D. 210
A. 329.55
A store offers a limited warranty on its software. A customer complains that the program she purchased is defective and wants to return it. A. Ask the customer when the purchase was made and how the software was installed. • B. Immediately offer to replace the product free of charge. • C. Tell the customer to send the product back to the manufacturer for a full refund • D. Call the supervisor to complete the return.
A. Ask the customer when the purchase was made and how the software was installed
Which of the following is an example that could help a business get the most positive customer feedback? • A Maintain inventory of popular items • 8. Offer a wide variety of low to mid quality products: • c. Carry a large selection of all products • D. Stocku high quality productu
A. Maintain inventory of popular items
Avery's beach shop sold 56 beach balls over the weekend. Each beach ball costs $3.00. What's the revenue for the beach balls sold? A. 168 B. 186 C. 100 D. 200
A.168
A customer you have seen in the store a lot wants to return a digital camera that he says is not working properly. The war ranty on th for a refund or exchange. You recall hearing that some exceptions have been made, as the re have been multiple complaints about th A. Explain to the customer that the warranty has expired and that he should contact the manufacturer. B. Call the manager to see if you can make an exception since this is a loyal customer. C. Say that you have heard a lot of other complaints and do not think the store should sell this product any longer. D. Tell the customer he will have to keep the camera, but give him a coupon for $20 off his next purchase.
B
A new flower shop completed its first big party. The shop wants to promote additional business and create a loyal clientele. Which is the MOST effective way to do this? A. Take pictures of the event and make posters for the shop. B. Ask satisfied customers for.feedback, referrals, and opportunities to serve their upcoming events. C. Place an ad in the local newspaper, showing the shop's address, telephone number, and site address. D. Create attractive floral displays and signs for customers who visit.
B
A new pet grooming store is opening in town and wants to promote the business. What is the BEST way to reach the target audience? A. Put up "Coming Soon" signs in the store windows indicating the opening date. B. Identify pet owners in the area and send a post card with an invitation to the opening and a coupon. C. Put an ad in the local newspaper with the opening date and services available. D. Give flyers to people walking on the street.
B
A sales associate has worked for a soft drink company for three years and has run the same delivery route. The company has added a new soft drink. How can the sales associate let his customers know about the new soft drink, and increase both his wholesale sales and the retailer's sales? A. Tell the retailer that the sales associate has added 10 cases to the retailer's account. B. Load the truck with the new soft drink because his boss told him to.
B
An associate has just been transferred to the clothing department of the store where she works. On her first day in the the new winter collection will be available to preview. The associate is unable to answer the customer and passes him on associate BEST be prepared to answer similar questions about seasonal merchandise in the future? A. Hope the merchandise arrives before the question comes up again. B. Follow up with the other associate to find out about the store's seasonal merchandising plan. C. Try to find out the information by reading the company's promotional material. D. Wait for a friend who works in the buying department to come back from annual leave and then ask him.
B
What is the FIRST thing a retail associate should do if someone spills soda or food onto the sales floon? A. Clean up the spill. B. Put a barrier around the spill. C. Inform the manager about the spill. D. Call for a custodian to clean up the spill.
B
What is the FIRST thing a sales associate should do if he finds broken glass on the sales floor? A. Find a broom and clean up the broken glass. B. Make management aware of the broken glass. C. Put a temporary barrier around the broken glass. D. Call for a custodian to clean up the broken glass.
B
What policies within a company may be given room for interpretation by the employees? A. Those that protect the licensing of the products sold B. Those designed to ensure customer satisfaction C. Those related to the safety of customers and employees D. Those associated with governmental laws and liability concerns
B
You are operating an ice cream truck. Which of the following would you categorize as COGs? A. Gas and maintenance costs. B. Cost of the ice cream, cones, and toppings. C. Cost of the permit to operate the ice cream truck. D. Your salary.
B
You're opening a new shoe store in your town. Which of the following would you consider to be your direct competitor? A. Wendy's B. Nike C. TJ Max D. Party City
B
associate to accomplish this? A. Ask customers for feedback relating to the new merchandising setup and whether it is useful and improved. B. Listen to what customers are saying and observe how they are reacting to the new merchandising setup. C. Pull sales reports from before and after the merchandising change and compare the associated sales figures. D. Take notes about the number of displays and whether the frequency of restocking is increasing or decreasing.
B
A college student is shopping for a new laptop to do schoolwork. What would you ask the customer to learn more about her preferences and needs? A. Would you consider this option? It is very popular among students. B. Do you have a price range? C. Which features are most important to you in a laptop? D. Do you need a laptop with a big screen or a small screen? Mark for review (Will be highlighted on the review page)
B or C
A new fast food restaurant opened in a mall food court. Since there are a lot of competitors in the same spac increase sales? A. Create an Instagram page with the most popular items on the menu. B. Ask several employees to go around the mall giving flyers to people walking by. C. Provide free samples of the most popular items on the menu and a 10% off coupon valid for the first meal. D. Offer lower prices than its competitors.
C
A sales associate notices that several fragrance display tables have been em product is visible and available at all times? A. Keep stock reserves of the fragrance under the tables. B. Increase the number of tables for fragrance displays. C. Have associates at the tables offer samples and restock as needed. D. Place as much fragrance as possible on the tables at the start of each day.
C
A store ts taunching a new line of cos metics. The store is planning an in-store makeover event to introduce the high-end products. Which of the follo effective selling technique to promote the products? A. Coupons and demonstration B. Sales flyers and ads C. Samples and demonstration D. Samples and sales flyers
C
Entering a product code inaccurately for a purchase will affect which of the following? A. Customer's credit rating B. Customer's identification records C. Inventory tracking records D. Sales person ID record
C
The amount of money that comes in to a retail business minus expenses is called: A. Revenue B. Forecasting C. Margin D. Reconciliation
C
Yout are a sates assoc late at a stationery store and the manager has noticed that green pens are not selling very fast, $1.00 each. Which of the following is the BEST action to achieve this goan? A. Decorate the store with a green theme. 8. Ask the customers if they need a green pen. C. Offer them to each customer while ringing them up. D. Let the customer use the green pen to sign their oredit oard slip.
C
A salon owner sold a customer a bottle of conditioner. The conditioner sells for $12.95. She has a $2.00 off coupon and state fax is 7%. What will the customer be charged? A. 10.88 B. 10.95 C. 11.72 D. 11.86
C. 11.72
You notice a customer in your store is acting suspicious. He keeps checking his surroundings and doesn't have • A. Approach the customer and ask if he needs help with anything • 8. Tell your comorter to keep an eye on the customer, since he could be a potential shoghther • c. Call pecurity and inform them that there is a potential shopliter in the store. • D. Polisety ask the customer to Mave the store
C. Call security and inform them that there is a potential shoplifter in the store
Which of the following examples de monstrates the BEST way to keep a customer coming back to the floral shop? A. Complimentary coffee B. Attractive displays C. Incentive/rewards program D. Various payment methods
C. Incentive/rewards program
It's the end of the week, and a sales neaneita could the associate do to reach his sales goal? A. Nothing, it is too late for him to reach his sales goal B. Buy something himself to make up for the difference • C. Offer the customer to buy a tablet case for $25. D. Offer the customer to add a 1-year protection plan to the tablet, for an additional $60
C. Offer the customer to buy a tablet case for 25. D. Offer the customer to add a 1-year protection plan to the tablet, for an additional 60
A busin ess mates $1000 in dally revenue and on average, spends $1200 in the products sold and $1700 on employee salary and other operating expenses. What's the dally business? A. 1100 B. 1500 C. 2900 D. 2800
D
A custo mer's child slips and falls. The child gets a scratch on the elbow, but appears to be otherwise unhurt. What should the er A. Ask the parent if the child is okay B. Call the paramedics C. Contact the company lawyer D. Notify the store manager
D
A customer has decided to do his own taxes using a popular software program. He goes to your retail store on Saturday morning to buy the program so that he can complete his taxes over the weekend. Taxes are due by midnight on Monday. The sales associate discovers that the store does not have the program in stock. The associate checks with the buyer and finds out that a new supply is expected anytime. What can the sales associate do to heth the customer now? A. Ask the custorner why he waited until the last minute to do his taxes B. Tell the customer he will be called as soon as the new shipment arrives, and put one on hold for him. c. Call a compethor's slore and see if they have the program in stock to meet the customer's immediate needs. O Ask the customer what features he likes about the software and see if the store has another program in stock that would hit his needs
D
A sales associate processes a customer's credit card. The purchase is declined by the credit card company. What should the associate do? A. Ask a supervisor to explain company policy to the customer. B. Ask the customer to return to the store when the balance on the credit card is smaller. C. Contact security personnel so that they can detain the customer. D. Tell the customer that the credit card has been declined and ask what the customer would prefer to do.
D
A store just recelved a lot of headbands. What would be the BEST place(s) to display the headbands to promote sales? A. Along the checkout line. B. The beauty aisle, next to other hair accessories. C. The sport section, next to the sport apparel. D. The checkout line and the beauty aisle.
D
This pricing strategy incentivizes cus tomers to purchase items, but also makes room for new items and cle ars out items that didn't sell well. A. Mark Down B. Vendor Pricing C. Keystone Pricing D. Flash Sale
D
What is a sales associate's role in pricing? A. Paying attertion to prices on new items, markyps, and markowns so that they can provide accurate information is customers B. Understanding customer price sensibity so that they can steer customers toward products in the approprate price range C. Collecting and using competive price data to adjust prices or help set sale prices D. Knowing the store's pricing strategles and policies so that they can steer customers to the more profrable merchandise
D
What is the most comm on type of preventable loss? A. Shoplifting B. Operational errors C. Vendor fraud D. Employee theft
D
When to the eest the to introduce a customer to sdaitional service programs? A At the beginning of the sales process B. After determining the customer's price point C. When the customer asks about a service program D. After a transaction has been completed
D
Which is the BEST way for a sales assoclate to help develop store promotions? A. Before each shift, do some secret shopping at the compentors' stores and share the promotions with the store manager B. Before each ahit, look around the store for ideas on how to generate more sales and share them with the manager: C. During each shit, search the internet for promotional ideas that would work in the store and sugpest them to the manage D. Afer each sht, look through competions' ads and sugpest to the manager to place the same probucts on sale.
D
Which of the following is an example that cou Id help a business get the most positive custom A. Maintain inventory of popular items B. Offer a wide variety of low to mid quality products C. Carry a large selection of all products D. Stocks high quality products
D
Which of the following is the BEST question for sales associates to ask themselves when evaluating their performance after a customer interaction? A. Why did or didn't they buy today? B. Will this customer require a follow-up call or email? C. What other products or services should I have offered? D. What went well, and what could I do better next time?
D
Which of the following should the sales as sociate do? A. Rsk another sales associate to help the customer. B Explain that the customer can return the television within 90 days of the purchase date. C. Refer the customer to the manufacturer's toll free number. D. Locate a copy of the warranty document and share it with the customer.
D
Which of the fortowing is the BEST question for sales associates to ask themselves when evaluating their performance after a customer interaction? A. Why did or didm they buy today? B. Wall this customer require a follow-up call or email? C. What other products or services should I have offered? D. What went well, and what could I do better next time?
D
store ran an ad in the local paper stating that all men's shirts will be reduced 30% from Friday through Sunday only. A customer comes in Monday morning with a copy of the ad and be okay to redeem the discount. What should you tell the customer? A. Who did you speak with? I think they gave you bad information. B. My manager will have to approve this discount. Excuse me while I go find him for you. C. If they haven't changed it in the system, it might ring up with the 30% discount. If it does, youre in luck. D. I'm sorry, but the shirts were 30 $ off Friday through Sunday. Today is Monday. You have to pay full price.
D
Sales for cranberry sauce increase during the mon ths of November and December. Inventory arrives in the warehouse fo warehou se need more space for storing cranberry sauce? A. June B. July C. August D. September
D or B
A store wants to sell hats. The lot of 20 hats costs $60, and the retailer wants to make a profit of $10 on each hat. How should the retalier price each hat? A. 14 B. 20 C. 10 D. 13
D. 13
sales associate is completing a sales transaction for a plasma television. The customer asks about the warranty, but the sales associate is unsure about how to answer th customer's question. Which of the following should the sales as sociate do? A Ask another sales associate to help the customer • B. Explain that the customer can return the television within 90 days of the purchase date • C. Reter the customer to the manufacturers toll free number © D. Locate a copy of the warranty document and share it with the customer
D. Locate a copy of the warranty document and share it with the customer
A fitness center's drink machine has not been refilled for almost two we eks. When the delivet fitness center has lost business. Which of the following can the delivery person do to ensure A. Apologize to the manager and change the delivery schedule to meet the manager's need. B. Tell the manager to buy more stock to meet customer demands. C. Suggest that the manager contact the account representative to verify the delivery schedu D. Fill the machine and leave the manager extra product to fill in between delivery times.
The best course of action is D. The worst course of action is C.
A Apologize and explain the conditions in which the coupon does and does not apply. B. Make the exception for the customer and apply the coupon. C. Inform the customer that the item doesn't qualify for the coupon. D. Report the incident as fraudulent. Solution
The best way to handle the situation is option A: Apologize and explain the conditions in which the coupon does and does not apply. The worst option is option D: Report the incident as fraudulent.
The action of promoting and selling products and services through advertising, space management and promotions is called: A. Marketing B. Personal Selling C. Social Media D. Displays
A
What is the catcutation to determine the gross profit margin percentage? A. Dividing gross profit by revenue B. Dividing revenue by gross profit C. Revenue minus gross profit D. Revenue divided by gross profit
A
When an employee can locate products in the store and explain different features and benefits of products to meet customers needs, they are dis A. Product Knowledge B. Personal preference C. Individual Ideas D. Independent Data
A
A business, whether single, local er part of a large chain, that sells producis andior services is called! A. A Retaller B. A partnei C. A Merchandiser D. A Distributon
A
A customer has $150 to spend on buying a gith. They could make their purchase either at Macy's or at Nordstrom. What type of competitive relationshlp exists between the se two retallers? A. Direct competiors B. Replacement competiors C. Rival competitors D. Indirect competitors
A
A husband is looking for a birthday gift for his wife. He knows that she wants a pair of gold earrings that your store carries. O nce you the MOST appropriate next step in serving the customer? A. Attempt to locate the item online or at one of your other stores. B. Tell him that you think they are available online and he should purchase them there. C. Ask him to give his wife a call and see if she would like a bracelet instead. D. Explain that the item is out of stock and offer him a discount if he buys something else.
A
An ontine retaller is tending a 10% off coupon in the email to first time users when they subscribe to their page, what trpe of promotional straley is this retail using? A. Direct marketing B. Discount marketing C. Advertising D. Personal Selling
A
As a retall employee, you have a responsibility to your co-yorkers and customers, Which is rot an importa met sat A. In the event of an emergency, leave the store immediately B. Have an understanding of company emergency procedures and safety procedures C. Report employee or customer injuries immediately D. Know where all emergency exits are and howto escort customers from the store in case of emergency
A
Costs retailers incur as a result of doing business. Examples include rent, payroll, utilities etc. A. Operating Expenses B. Revenue C. Profit D. Mark Up
A
Dellvering a posittve, memorable experience that leads to customer A. Quality Customer Service B. Customer Service c. Selling D. Meeting Expectations
A
John's restaurant sells tacos, which business is an example of a direct competitor A. Victor's Tacos B. Maria's Hamburgers C. Juan's Chinese D. Susan's Ice Cream
A
Retailers that offer different products and services, but still meet the same customer need are called: A. Indirect Competitors B. Direct Competitors C. Replacement Competitors D. Partner Competitors
A
Strategies used by retailers that make a product appealing to customers, incentivize them to make a purchase or to generate sales are called: A. Promotions B. Product C. Price D. Place
A
