4/11/26, 11:39 AM fashion retail industry exam 1
Fashion Retail Industry Exam 1 || Most Recent Exam Actual
Complete Real Exam Questions And Correct Answers (Verified
Answers) Already Graded A+ | Guaranteed Success!! Newest Exam |
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"Retailing" is the
set of business activities that adds value to the products and services sold to
consumers for
their personal or family use
A retailer's role in a supply chain is to:
a. act as the liaison between manufacturers and suppliers.
b. buy merchandise exclusively from the manufacturers.
c. negotiate with manufacturers to draw contracts for wholesalers.
d. add value to products and services sold to customers.
e. sell goods and services to wholesalers.
d. add value to products and services sold to customers.
Which of the following would be an example of "intertype competition?"
a. A supermarket and a fresh flower stand.
b. A Starbuck's and a McDonald's restaurant.
c. A Wal-Mart Supercenter and a CVS/Pharmacy.
d. A 7-Eleven convenience store and a Macy's.
e. All of the above would be examples of intertype competition
e. All of the above would be examples of intertype competition.
/ 1/22
,4/11/26, 11:39 AM fashion retail industry exam 1
A set of decisions retailers make to satisfy customer needs and influence
their purchase
decisions is called:
a. retailing conglomerate.
b. retail mix.
c. marketing strategy.
d. target group.
e. none of the above are decisions retailers use to satisfy customer
needs and influence their
purchase decisions.
b. retail mix (customer service, store design/display, location)
The "North American Industry Classification System" (NAICS):
a. was developed by the Federal Trade Commission (FTC).
b. uses an 8-digit classification system.
c. was created to collect data on business activity in Canada, United
States, and Mexico.
d. is limited in its use to only manufacturing companies.
e. is used only by the United States.
c. was created to collect data on business activity in Canada, United States,
and Mexico
With respect to retailing, "variety" is often referred to as the:
a. assortment of closeouts.
b. assortment of merchandise.
c. diversification of merchandise.
d. breadth of merchandise.
e. stock-keeping unit (SKU).
d. breadth of merchandise.
/ 2/22
, 4/11/26, 11:39 AM fashion retail industry exam 1
The Men's Wearhouse stocks 350 different styles and colors of ties. This
assortment of ties can
be referred to as the store's:
a. consignment merchandise.
b. assortment of closeouts.
c. breadth of merchandise.
d. retail mix.
e. depth of merchandise.
e. depth of merchandise.
Which of the following statements about "warehouse clubs" is true?
a. Warehouse clubs only sell to ultimate consumers.
b. Warehouse clubs carry a broad variety and deep assortment of
merchandise.
c. Warehouse clubs typically have low inventory holding costs by carrying
a limited assortment
of fast-selling items.
d. Warehouse clubs offer extensive customer service.
e. Warehouse clubs are typically located in high-rent districts
c. Warehouse clubs typically have low inventory holding costs by carrying a
limited assortment
of fast-selling items.
Which of the following statements about "department stores" is true?
a. They are usually located in local neighborhoods rather than large regional
malls.
b. They often resemble a collection of specialty shops.
c. They can be categorized into two tiers.
d. They focus almost exclusively on hard goods.
e. They offer a limited variety and shallow assortment of merchandise.
b. They often resemble a collection of specialty shops.
/ 3/22
Fashion Retail Industry Exam 1 || Most Recent Exam Actual
Complete Real Exam Questions And Correct Answers (Verified
Answers) Already Graded A+ | Guaranteed Success!! Newest Exam |
Just Released!!
"Retailing" is the
set of business activities that adds value to the products and services sold to
consumers for
their personal or family use
A retailer's role in a supply chain is to:
a. act as the liaison between manufacturers and suppliers.
b. buy merchandise exclusively from the manufacturers.
c. negotiate with manufacturers to draw contracts for wholesalers.
d. add value to products and services sold to customers.
e. sell goods and services to wholesalers.
d. add value to products and services sold to customers.
Which of the following would be an example of "intertype competition?"
a. A supermarket and a fresh flower stand.
b. A Starbuck's and a McDonald's restaurant.
c. A Wal-Mart Supercenter and a CVS/Pharmacy.
d. A 7-Eleven convenience store and a Macy's.
e. All of the above would be examples of intertype competition
e. All of the above would be examples of intertype competition.
/ 1/22
,4/11/26, 11:39 AM fashion retail industry exam 1
A set of decisions retailers make to satisfy customer needs and influence
their purchase
decisions is called:
a. retailing conglomerate.
b. retail mix.
c. marketing strategy.
d. target group.
e. none of the above are decisions retailers use to satisfy customer
needs and influence their
purchase decisions.
b. retail mix (customer service, store design/display, location)
The "North American Industry Classification System" (NAICS):
a. was developed by the Federal Trade Commission (FTC).
b. uses an 8-digit classification system.
c. was created to collect data on business activity in Canada, United
States, and Mexico.
d. is limited in its use to only manufacturing companies.
e. is used only by the United States.
c. was created to collect data on business activity in Canada, United States,
and Mexico
With respect to retailing, "variety" is often referred to as the:
a. assortment of closeouts.
b. assortment of merchandise.
c. diversification of merchandise.
d. breadth of merchandise.
e. stock-keeping unit (SKU).
d. breadth of merchandise.
/ 2/22
, 4/11/26, 11:39 AM fashion retail industry exam 1
The Men's Wearhouse stocks 350 different styles and colors of ties. This
assortment of ties can
be referred to as the store's:
a. consignment merchandise.
b. assortment of closeouts.
c. breadth of merchandise.
d. retail mix.
e. depth of merchandise.
e. depth of merchandise.
Which of the following statements about "warehouse clubs" is true?
a. Warehouse clubs only sell to ultimate consumers.
b. Warehouse clubs carry a broad variety and deep assortment of
merchandise.
c. Warehouse clubs typically have low inventory holding costs by carrying
a limited assortment
of fast-selling items.
d. Warehouse clubs offer extensive customer service.
e. Warehouse clubs are typically located in high-rent districts
c. Warehouse clubs typically have low inventory holding costs by carrying a
limited assortment
of fast-selling items.
Which of the following statements about "department stores" is true?
a. They are usually located in local neighborhoods rather than large regional
malls.
b. They often resemble a collection of specialty shops.
c. They can be categorized into two tiers.
d. They focus almost exclusively on hard goods.
e. They offer a limited variety and shallow assortment of merchandise.
b. They often resemble a collection of specialty shops.
/ 3/22
