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Self Quiz
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1
Each merchandise group is managed by:
A)a general merchandise manager
B)a divisional merchandise manager
C)a category manager
D)a senior buyer
E)an assistant buyer
2
A(n) _____________ is an assortment of items that a customer sees as reasonable substitutes for each other.
A)inventory unit
B)category
C)assortment plan
D)SKU
E)classification
3
A stock keeping unit is
A)a group of items of similar merchandise
B)the merchandise unit used for merchandise budget planning
C)the smallest unit available for keeping inventory
D)a group of complementary products
E)a term used to describe the average quantity of monthly inventory
4
Proctor and Gamble hired Lyle to work with Wal-Mart to help better satisfy the consumer's cleaning supply needs and balance assortments for the category. Which of the following could best describe Lyle's position?
A)assortment manager
B)category captain
C)category manager
D)category vendor
E)product supervisor
5
What can a category captain do to avoid potential antitrust problems?
A)A vendor can document category transactions with each retailer.
B)A vendor can limit the number of brands offered in each of the markets served.
C)The retailer and the vendor work together to check and balance category decisions.
D)A vendor can share all of the information from a retailer with other brands in the category.
E)A vendor can insist on all sales information from a retailer in order to allocate brands appropriately.
6
What is a performance measure that assesses a buyer's performance based on the factors the buyer can control?
A)return on assets
B)gross margin
C)gross margin on investment
D)net profit
E)ROI
7
Kitchens Plus, a shop for gourmet cooks, is evaluating the sales performance of Sunbeam's bagel toasters. During the last year, the Sunbeam bagel toasters had net sales of $8,900. The gross margin for the Sunbeam bagel toaster was $2,000, and the average inventory at cost for that brand of toaster was $800. Calculate the GMROI for a Sunbeam bagel toaster.
A)8 percent
B)16.9 percent
C)50 percent
D)250 percent
E)593 percent
8
Which of the following describes one of the advantages inherent in rapid inventory turnover?
A)increased employee turnover
B)greater probability of obsolescence
C)more money for market opportunities
D)decreased sales volume
E)all of the above
9
What can be expected to happen during the maturity stage of the category life cycle?
A)High income innovators will be the target market.
B)Distribution will be limited.
C)There will be one basic offering.
D)Promotion will be informative.
E)Prices will be lower.





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