Question 1 1 pts Time R Attempt 35 Min is best described when a retailer works to give consumers the right quantity of the right merchandise at the right time, all while meeting the retailer's financial goals. Category management Merchandise management O Quick response inventory management Materials procurement and handling Question 2 1 pts When describing the levels of how merchandise is grouped, which would be the correct order going from the very highest (or broadest) level to the very lowest (or product-specific) level? Classification Department Category-Merchandise Group-SKU Category-Classification-Merchandise Group-Department-SKU Merchandise Group-Department-Classification Category-SKU Department-Merchandise Group Classification-Category-SKU Question 3 1 pts Piggly Wiggly, a chain of supermarkets throughout the Southern portion of the US has selected Welch's to help them manage the jelly area in their stores. In this case, Welch's would be an) O primary vendor O category captain merchandise group O assortment editor Question 4 1 pts When retailers in Michigan sell snowblowers, mittens or sleds, these items would be considered part of a/an staple merchandise category O expected merchandise category O seasonal merchandise category O sample merchandise category Question 5 1 pts Which of the following would best describe the first step in merchandise management planning? Executing the plan Developing a pricing strategy O Developing a forecast for sales Determining the appropriate inventory levels Question 6 1 pts is a measurement that shows the percentage of demand for a particular item (or SKU) that is satisfied. O Product breadth O Product availability O Product satisfaction O Product depth UDU NEWS Question 7 1 pts Variety, in terms of product offerings, is best described as which of the following? The percentage of demand for a particular SKU that is satisfied O Product availability Inventory that results from a replenishment process The number of different merchandising categories within a store Question 8 1 pts A hardware store that sells paintbrushes has found that some weeks it sells 100 brushes and other weeks, it sells 10. A reorder can take up to three weeks. The probability of running out of paintbrushes pans and upsetting its customers can be reduced by maintaining O hidden inventory O cycle stock O non-ledgered stock O backup stock Question 9 1 pts When a retailer has a staple merchandise management systems, it wants to keep a close eye on the which is defined as the number of items in its inventory below which the quantity available shouldn't go, because if it does, the item will be out of stock before the next order arrives. order point average inventory EOM inventory O backup stock level Question 10 1 pts is the amount of time between the recognition that an order needs to be placed and the point at which the merchandise arrives in the store and is ready for sale. Fill rate Service level Delivery rate Lead time be Maps C News M Gmail Question 11 1 pts Which of the following best describes the 80-20 Principle (which can be found within the the ABC analysis)? O 80 percent of the retailer's customers were repeat customers, and only 20 percent were new approximately 80 percent of a retailer's inventory was sold, and 20 percent was shrinkage approximately 20 percent of a retailer's sales came from 80 percent of its products O approximately 80 percent of a retailer's sales came from 20 percent of its products Question 12 1 pts brands. Folgers coffee, Pampers diapers and Land-O-Lakes butter are all examples of O general O generic national O private-label 1 pts Question 13 IS GE News Gmail Question 13 1 pts Which of the following would be the the best reason for retailers to offer private-label brands instead of national brands? Private labels yield higher margins to retailers. National brands offer a retailer more flexibility on how merchandise is displayed and advertised. O Private labels require less investment from a retailer from design to display O Customers have loyalty to national brands Question 14 1 pts Retailers, in general, are interested in reducing tariffs. Which of the following would be the best reason why they would support this? Tariffs increase the cost of merchandise. Tariffs cheapen the imported merchandise O Retailers want to spend more on expansion Retailers want to expand into other countires. Question 15 1 pts Retailers, like Wal-Mart, ask their vendors to sign a code of basic labor. These retailers will also hire investigators or auditing firms to inspect the factories that their vendors use. Why would retailers do this? Retailers want to ensure supplier compliance of core labor standards. O Retailers want to focus on only having items made in their own country, Retialers are working towards collaborative merchandising. Retailers are working to build strategic partnerships within Asia. Question 16 1 pts Charges demanded by a retailer in order to put a new item on shelves are called O slotting allowances O margin guarantees O markdown money O additional markup dollars Question 17 1 pts By sharing common goals, buyers and vendors commonly miscalculate the cost of merchandise do not have to coordinate systems for the partnership to succeed can conclude that the long-term results of the relationship are insignificant can pool their strengths and abilities to exploit potential opportunities Question 18 1 pts When a retailer promotes that they have a new line of environmentally-friendly products, but behind the scenes, they are not doing things like reducing energy usage or recycling in their stores, it would be an example of the retailer practicing O fair trade whitewashing black marketing green sheen Question 18 1 pts When a retailer promotes that they have a new line of environmentally-friendly products, but behind the scenes, they are not doing things like reducing energy usage or recycling in their stores, it would be an example of the retailer practicing O fair trade whitewashing black marketing O green sheen U Question 19 2 pts An example of staple merchandise would be (Select] An example of fashion merchandise would be [Select) An example of seasonal merchandise would be (Select) Because many of the items are changing or different from year to year, forecasting sales for [Select) is harder to do