Question 1

A pathway allowing retailers and vendors to electronically exchange data and set criteria for re-ordering:
A)Electronic data interchange
B)Point of Sales
C)Quick Response
D)Universal Product Code

Accepted Answer

Electronic data interchange (EDI) is a system that allows for electronic exchange of data in a standardized format between retailers and vendors. This includes setting criteria for re-ordering and automating the ordering process. Point of Sales (POS) and Universal Product Code (UPC) are not specifically designed for data exchange and Quick Response (QR) refers to a specific technology for encoding and decoding information, rather than a system for data exchange between retailers and vendors.

Question 2

The person ultimately responsible for a category is the:
A)Category advisor
B)Category manager
C)Category consultant
D)Category validator

Accepted Answer

The category manager is the person who has overall responsibility for a particular category within a company. They are responsible for developing strategies, setting goals, and ensuring that the category meets its performance objectives. The other options do not typically have the same level of responsibility or decision-making authority as the category manager.

Question 3

SBU stands for:
A)Systematic Building Units
B)Strategic Building Units
C)Strategic Business Units
D)Systematic Business Units

Accepted Answer

SBU stands for Strategic Business Units. This term is commonly used in business management to refer to separate, self-contained units within a company that have their own specific business objectives, strategies, and resources. SBU's are often created to give management more control over specific markets and to improve overall performance by focusing on specific products, services, or geographic regions.

Question 4

One of the three core principles of category management is a focus of______________

Accepted Answer

The answer of One of the three core principles of...

Question 5

Which is NOT considered a problem in the category captain arrangement?
A)Ability to exclude rival vendors
B)Ability to increase cost of competing for the category captain's company
C)Ability to conspire with other vendors
D)Ability to determine which products are included in a planogram.

Accepted Answer

The answer of Which is NOT considered a problem in...

Question 6

A business strategy designed to reduce inventory and shorten the cycle time for a product to be made,distributed,and sold.
A)Electronic data interchange
B)Point of Sales
C)Quick Response
D)Universal Product Code

Accepted Answer

Quick Response (QR) is a business strategy aimed at reducing inventory and shortening the cycle time for a product to be made, distributed, and sold. It involves using technology to share data and collaborate with suppliers, distributors, and retailers to quickly respond to customer demand and make production and delivery processes more efficient. Electronic data interchange (EDI) and Universal Product Code (UPC) are related technologies that support QR, while Point of Sales (POS) refers to the location where customers can purchase goods or services.

Question 7

A detailed depiction of a display of computer images or photographs:
A)Data source
B)Image
C)Pictogram
D)Planogram

Accepted Answer

The answer of A detailed depiction of a display of...

Question 8

Which is not the role of a category advisor?
A)Define the category
B)Determine fairness of allocations of space
C)Review planograms to determine if all brands are represented
D)Review promotions are fair

Accepted Answer

The answer of Which is not the role of a...

Question 9

In brand management which of the following is true?
A)Customers' buying behavior
B)Customers' decision making hierarchy
C)Profit generated by the brand
D)Profit generated by the category

Accepted Answer

The answer of In brand management which of the following...

Question 10

The increase in sales for vendors due to category management is:
A)12%
B)14%
C)17%
D)19%

Accepted Answer

The answer of The increase in sales for vendors due...

Question 11

When category management is successfully implemented vendors and retailers become:
A)Adversaries
B)Contemporaries
C)Rivals
D)Trade partners

Accepted Answer

When category management is successfully implemented, vendors and retailers become trade partners. This means that they work together to optimize the performance of the category, ensure that the right products are on the shelf at the right time, and ultimately drive sales and profitability for both parties. Adversaries, contemporaries, and rivals all suggest a competitive relationship between vendors and retailers, which is not the goal of category management.

Question 12

_______________ may be defined as a strategic management of product groups through trade partnerships which maximizes sales and profit while satisfying consumer and shopper needs.

Accepted Answer

The answer of _______________ may be defined as a strategic...

Question 13

_______________ is a distinct,manageable group of products or services customers perceive as related,or as substitutes.

Accepted Answer

The answer of _______________ is a distinct,manageable group of products...

Question 14

Which of the following is NOT one of the reasons for implementing category management:
A)Eliminate waste in regard to space utilization
B)Focus on the merchandise sought by customers
C)Increase profit margin
D)Increase space allocation for major vendor's brands

Accepted Answer

Increasing space allocation for major vendor's brands is not a primary reason for implementing category management. The focus is on improving overall category performance, rather than prioritizing specific brands or vendors.

Question 15

A distinct,manageable group of products or services customers perceive as related or substitutes is a:
A)Brand
B)Category
C)Product
D)Vendor

Accepted Answer

A category is a distinct, manageable group of products or services that customers perceive as related or substitutes. Brands are specific names and logos associated with a certain product or service. A product refers to a single item sold by a company, while a vendor is the supplier or seller of a product or service.

Question 16

When comparing how an electronics store defines a category as compared to a mass merchandiser,the most likely definitions are:
A)Televisions and cell phones
B)Televisions and electronics
C)Televisions and DVDs
D)Televisions and computers

Accepted Answer

An electronics store typically defines categories more broadly to include various electronic devices, hence "Televisions and electronics" encompasses a wide range of products they sell, from TVs to other electronic gadgets and components.

Question 17

Loyalty cards assist retailers in determining all except:
A)Customers' buying behavior
B)Customers' decision making hierarchy
C)Customers' favorite brands
D)Customers' favorite sizes in products

Accepted Answer

Loyalty cards primarily track purchasing patterns, such as what, when, and how often customers buy, which helps in understanding their buying behavior (A), favorite brands (C), and sizes in products (D). However, they do not provide direct insights into the customers' decision-making hierarchy (B), which involves understanding the reasons behind their choices and preferences.

Question 18

A bar and numeric code enabling retailers and their partners to use technology to maintain and assess inventory:
A)Electronic data interchange
B)Point of Sales
C)Quick Response
D)Universal Product Code

Accepted Answer

The Universal Product Code (UPC) is a bar and numeric code used to identify products and is widely used by retailers and their partners to maintain and assess inventory. The UPC is scanned at the point of sale to record the transaction and update the inventory levels.

Question 19

The purposes of category management are all but:
A)Ensure high levels of productivity for the category
B)Ensure high levels of productivity for the stock keeping unit.
C)Ensure lower overall prices
D)Ensure product assortment

Accepted Answer

Category management is focused on managing the performance of a group of products or services, known as a category, to meet the needs of customers while achieving the business goals of the retailer. The purpose is not specifically to ensure high levels of productivity for each individual stock keeping unit (SKU), but rather to ensure overall category productivity. A, C, and D are all valid purposes of category management.

Question 20

The average increase in sales for retailers due to category management is:
A)12%
B)14%
C)17%
D)19%

Accepted Answer

The answer of The average increase in sales for retailers...

Quiz 1: Introduction

A pathway allowing retailers and vendors to electronically exchange data and set criteria for re-ordering:

The person ultimately responsible for a category is the:

SBU stands for:

One of the three core principles of category management is a focus of______________

Which is NOT considered a problem in the category captain arrangement?

A business strategy designed to reduce inventory and shorten the cycle time for a product to be made,distributed,and sold.

A detailed depiction of a display of computer images or photographs:

Which is not the role of a category advisor?

In brand management which of the following is true?

The increase in sales for vendors due to category management is:

When category management is successfully implemented vendors and retailers become:

_______________ may be defined as a strategic management of product groups through trade partnerships which maximizes sales and profit while satisfying consumer and shopper needs.

_______________ is a distinct,manageable group of products or services customers perceive as related,or as substitutes.

Which of the following is NOT one of the reasons for implementing category management:

A distinct,manageable group of products or services customers perceive as related or substitutes is a:

When comparing how an electronics store defines a category as compared to a mass merchandiser,the most likely definitions are:

Loyalty cards assist retailers in determining all except:

A bar and numeric code enabling retailers and their partners to use technology to maintain and assess inventory:

The purposes of category management are all but:

The average increase in sales for retailers due to category management is: