Question 1

A ________ is the basic unit of analysis for making merchandise management decisions.

Accepted Answer

A)  department 
B)  stock-keeping unit 
C)  classification 
D)  merchandise group 
E)  merchandise category 
A)  department 
B)  stock-keeping unit 
C)  classification 
D)  merchandise group 
E)  merchandise category

Question 2

Which of the following statements is True of a merchandise category?

Accepted Answer

A)  It is the basic unit of analysis for merchandising decisions. 
B)  It is the smallest unit available for keeping inventory. 
C)  It is the unit of inventory least affected by seasonal trends. 
D)  It is the largest unit available for keeping inventory. 
E)  It is an assortment of complementary SKUs. 
A)  It is the basic unit of analysis for merchandising decisions. 
B)  It is the smallest unit available for keeping inventory. 
C)  It is the unit of inventory least affected by seasonal trends. 
D)  It is the largest unit available for keeping inventory. 
E)  It is an assortment of complementary SKUs.

Question 3

Smart Wash is a popular brand of detergent powder. The stock needs to be continuously replenished in stores and supermarkets due to its high demand. The detergent powder belongs to the category of

Accepted Answer

A)  expected merchandise. 
B)  sample merchandise. 
C)  staple merchandise. 
D)  seasonal merchandise. 
E)  fashion merchandise. 
A)  expected merchandise. 
B)  sample merchandise. 
C)  staple merchandise. 
D)  seasonal merchandise. 
E)  fashion merchandise.

Question 4

Father Christmas is a retail store that sells a unique Santa made from fur, wool, and tapestry. If 150 customers wish to buy a Santa from this store, and it sells 120 before running out of stock, what is its service level?

Accepted Answer

A)  15 percent 
B)  80 percent 
C)  20 percent 
D)  85 percent 
E)  88 percent 
A)  15 percent 
B)  80 percent 
C)  20 percent 
D)  85 percent 
E)  88 percent

Question 5

________ categories consist of items whose sales fluctuate dramatically depending on the time of year.

Accepted Answer

A)  Expected merchandise 
B)  Sample merchandise 
C)  Staple merchandise 
D)  Seasonal merchandise 
E)  General merchandise 
A)  Expected merchandise 
B)  Sample merchandise 
C)  Staple merchandise 
D)  Seasonal merchandise 
E)  General merchandise

Question 6

Retailers often find the 80-20 principle evident within the ABC analysis. What does the 80-20 principle imply?

Accepted Answer

A)  About 20 percent of a retailer's sales promotion sells 80 percent of its inventory. 
B)  Approximately 20 percent of a retailer's sales come from 80 percent of its products. 
C)  Approximately 80 percent of a retailer's inventory was sold, and 20 percent was wasted. 
D)  80 percent of the retailer's customers are repeat customers and only 20 percent are new. 
E)  Approximately 80 percent of a retailer's sales come from 20 percent of its products. 
A)  About 20 percent of a retailer's sales promotion sells 80 percent of its inventory. 
B)  Approximately 20 percent of a retailer's sales come from 80 percent of its products. 
C)  Approximately 80 percent of a retailer's inventory was sold, and 20 percent was wasted. 
D)  80 percent of the retailer's customers are repeat customers and only 20 percent are new. 
E)  Approximately 80 percent of a retailer's sales come from 20 percent of its products.

Question 7

A(n) ________ is the smallest unit available for inventory control.

Accepted Answer

A)  category 
B)  stock-keeping unit 
C)  classification 
D)  merchandise group 
E)  assortment 
A)  category 
B)  stock-keeping unit 
C)  classification 
D)  merchandise group 
E)  assortment

Question 8

How are vendors in a better position to manage a category than a retailer?

Accepted Answer

Vendors have superior information based

Question 9

Assortment, or depth, of a merchandise category is the number of different merchandising subcategories offered.

Accepted Answer

A) True 
 B)False

Question 10

A(n) ________ identifies the performance of individual SKUs in the assortment plan.

Accepted Answer

A)  product rating system 
B)  sell-through analysis 
C)  inventory turnover ranking 
D)  GMROI 
E)  ABC analysis 
A)  product rating system 
B)  sell-through analysis 
C)  inventory turnover ranking 
D)  GMROI 
E)  ABC analysis

Question 11

Which of the following merchandise categories is purchased in a manner similar to fashion merchandise?

Accepted Answer

A)  Promotional merchandise 
B)  Sample merchandise 
C)  Staple merchandise 
D)  Seasonal merchandise 
E)  Expected merchandise 
A)  Promotional merchandise 
B)  Sample merchandise 
C)  Staple merchandise 
D)  Seasonal merchandise 
E)  Expected merchandise

Question 12

What are the decisions influencing the allocation of merchandise to stores?

Accepted Answer

Allocating merchandise to stores involve

A ________ is the basic unit of analysis for making merchandise management decisions.

Which of the following statements is True of a merchandise category?

Smart Wash is a popular brand of detergent powder. The stock needs to be continuously replenished in stores and supermarkets due to its high demand. The detergent powder belongs to the category of

Father Christmas is a retail store that sells a unique Santa made from fur, wool, and tapestry. If 150 customers wish to buy a Santa from this store, and it sells 120 before running out of stock, what is its service level?

________ categories consist of items whose sales fluctuate dramatically depending on the time of year.

Retailers often find the 80-20 principle evident within the ABC analysis. What does the 80-20 principle imply?

A(n) ________ is the smallest unit available for inventory control.

How are vendors in a better position to manage a category than a retailer?

Assortment, or depth, of a merchandise category is the number of different merchandising subcategories offered.

A(n) ________ identifies the performance of individual SKUs in the assortment plan.

Which of the following merchandise categories is purchased in a manner similar to fashion merchandise?

What are the decisions influencing the allocation of merchandise to stores?

Introduction to the World of Retailing

Types of Retailers

Multichannel and Omnichannel Retailing

Customer Buying Behavior

Retail Market Strategy

Financial Strategy

Retail Locations

Retail Site Location

Information Systems and Supply Chain Management

Customer Relationship Management

Buying Merchandise

Retail Pricing

Retail Communication Mix

Human Resources and Managing the Store

Store Layout, Design, and Visual Merchandising

Customer Service

Filters

Exam 11: Managing the Merchandise Planning Process

A ________ is the basic unit of analysis for making merchandise management decisions.

Which of the following statements is True of a merchandise category?

Smart Wash is a popular brand of detergent powder. The stock needs to be continuously replenished in stores and supermarkets due to its high demand. The detergent powder belongs to the category of

Father Christmas is a retail store that sells a unique Santa made from fur, wool, and tapestry. If 150 customers wish to buy a Santa from this store, and it sells 120 before running out of stock, what is its service level?

________ categories consist of items whose sales fluctuate dramatically depending on the time of year.

Retailers often find the 80-20 principle evident within the ABC analysis. What does the 80-20 principle imply?

A(n) ________ is the smallest unit available for inventory control.

How are vendors in a better position to manage a category than a retailer?

Assortment, or depth, of a merchandise category is the number of different merchandising subcategories offered.

A(n) ________ identifies the performance of individual SKUs in the assortment plan.

Which of the following merchandise categories is purchased in a manner similar to fashion merchandise?

What are the decisions influencing the allocation of merchandise to stores?

Introduction to the World of Retailing

Types of Retailers

Multichannel and Omnichannel Retailing

Customer Buying Behavior

Retail Market Strategy

Financial Strategy

Retail Locations

Retail Site Location

Information Systems and Supply Chain Management

Customer Relationship Management

Buying Merchandise

Retail Pricing

Retail Communication Mix

Human Resources and Managing the Store

Store Layout, Design, and Visual Merchandising

Customer Service

Filters