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Retail Management Interview Questions & Answers - Learning Mode
COOLINTERVIEW.COM MARKETING INTERVIEW QUESTIONS RETAIL MANAGEMENT INTERVIEW QUESTIONS QUESTIONS & ANSWERS - LEARNING MODE

Retail Management Interview Questions & Answers - Learning Mode

The various processes which help the customers to procure the desired merchandise from the retail stores for their end use refer to retail management. Retail management includes all the steps required to bring the customers into the store and fulfill their buying needs. Retail management makes shopping a pleasurable experience and ensures the customers leave the store with a smile. In simpler words, retail management helps customers shop without any difficulty.

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Subcategories for Retail Management Interview Questions & Answers - Learning Mode

Following are sub categories for which Interview Questions & Answers are available under Retail Management Interview Questions & Answers - Learning Mode. Please select the appropriate sub-category:-

Consumer Behaviour in the Retail Context Interview Questions & Answers (72) Learning Mode | Exam Mode

Retail Operations Interview Questions & Answers (35) Learning Mode | Exam Mode

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Retail Management Interview Questions & Answers - Learning Mode
Try Retail Management Interview Questions & Answers - Exam Mode
Question: What is a variety store?

Answer: A variety store is a retail store that sells a wide range of inexpensive household goods. Variety stores often have product lines including food and drink, personal hygiene products, small home and garden tools, office supplies, decorations, electronics, garden plants, toys, pet supplies, recorded media and motor and bike consumables. Source: CoolInterview.com
Question: Explain environmental theory of retailing.

Answer: As retail institutions are economic entities they also confront an environment. Retail environment is made up of customers, competitors and changing technology. The changes in the external environment can alter the profitability of retail organizations. If an organisation is not able to cope with its external environment it will soon vanish from the market. Thus, the birth, success or decline of different forms of retail enterprises many a times is attributed to the business environment. Source: CoolInterview.com
Question: What is direct selling?

Answer: Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location. Peddling is the oldest form of direct selling. Modern direct selling includes sales made through the party plan, one- on- one demonstrations and other personal contact arrangements as well as internet sales. Direct selling is a dynamic, vibrant, rapidly expanding channel of distribution for the marketing of products and services directly to consumers. Source: CoolInterview.com
Question: State the theories of retailing.

Answer: Following are the important theories of retailing:-
1. Environmental Theory
2. Cyclical Theory
3. Conflict Theory Source: CoolInterview.com
Question: What are the advantages and disadvantages of hypermarket?

Answer: Advantages of hypermarket are as follows:
1. Customers can get everything at one place. Hence saving time, energy and money in searching.
2. Cost reduction from bulk buying in hypermarket are transferred to customers.
Disadvantages of hypermarket are as follows:
1. It causes major traffic problem.
2. Forces smaller shops out of business. Source: CoolInterview.com
Question: What is wheel of retailing?

Answer: Wheel of retailing refers to a company entering the market with low prices and affordable services in order to challenge competitors. The wheel of retailing is a theory to explain the institutional changes that take place when innovators, including large business houses, enter the retail arena. The wheel of retailing is a hypothesis that describes how retailers approach to capture market share and create brand value. It explains how retailers usually begin at the bottom of the wheel with low pri Source: CoolInterview.com
Question: How does telemarketing work?

Answer: Telemarketing is usually done through specific campaigns. Contact is established with hundreds of prospects in a campaign that normally runs through a few days. Several tele- callers re hired for the tele- call operation. Source: CoolInterview.com
Question: State the features of full- line discount store.

Answer: 1. It conveys the image of a high-volume, low- cost outlet selling a broad product assortment for less than conventional prices.
2. Shopping carts and centralized checkout service are provided. Customer service is not usually provided within store departments but at centralized area.
3. Products are normally sold via self- service pos equipment with minimum assistance in any single department.
4. Less fashion- sensitive merchandise is carried. Source: CoolInterview.com
Question: What is telemarketing? State the advantages of telemarketing.

Answer: Telemarketing is a form of direct marketing. Here, marketer goes direct to the customer using telecom/ IT facilities.
Advantages pf telemarketing are as follows:
1. Telemarketing facilitates personalized contact though not face- to- face contact with prospective customers.
2. Compared to mass marketing programmes, it gives the marketer a better change to influence the prospects.
3. Telemarketing is less expensive compared to most other forms of selling. Source: CoolInterview.com
Question: What are the advantages and disadvantages of super market?

Answer: Advantages of retail market are as follows:
1. Low overheads, particularly selling overheads.
2. Low prices and high profits because of quick turnover.
3. Situated at convenient places and within reach of buyers.
4. Avails economies of large scale operation.
5. The buyer is perfectly free as to what he should buy.
Disadvantages of super markets are as follows:
1. Huge capital required.
2. Need of central place.
3. Lack of personal attention.
4. Unsuitable for all pr Source: CoolInterview.com
Question: What is a hypermarket?

Answer: Hypermarket is a superstore combining a supermarket and a department store. The result is an expensive retail facility carrying a wide range of products under one roof, including full groceries lines and general merchandise. Hypermarket is a very large store that carries products found in supermarket as well as merchandise commonly found in department stores. Source: CoolInterview.com
Question: What is retailing?

Answer: Retailing includes all the activities involved in selling goods or services to the final customers for personal, non- business use. Retailing is the sale of goods or commodities in small quantities directly to consumers. Retailing is the final stage in a channel of distribution. Retailing functions are performed by any firm selling merchandise or providing services to the final consumer. Source: CoolInterview.com
Question: What is a departmental store?

Answer: A departmental store is a large retail trading organization. It ahs several departments, which are classified and organized accordingly. Departments are made as per different types of goods to be sold. For example, individual departments are established for selling packed food goods, groceries, garments, stationery, cutlery, cosmetics, medicines, computers etc. so that consumers can purchase all basic household requirements under one roof. It provides them maximum shopping convenience and theref Source: CoolInterview.com
Question: What are the services performed by retailers to consumers?

Answer: 1. They provide credit facilities to the consumers thereby helping them in times of difficulty.
2. They extend free home delivery and after sales service to the consumers.
3. They supply fresh products to the consumers.
4. They allow cash discount to the consumers on the products sold.
5. They buy and stock products best suited to the consumers.
6. They introduce new products to the consumers and also guide them as to their uses. Source: CoolInterview.com
Question: What are chain stores?

Answer: Chain stores are a group of stores handling similar lines of merchandise with single ownership and centralized location. A multiple shop system is a network of branch shops, situated at different localities in the city or in different parts of the country, under a centralized management and dealing in similar lines of goods. Examples for chain stores in India are Bata Shoe CO. and DCM. Source: CoolInterview.com
Question: Explain briefly retail life cycle.

Answer: The retail life cycle is the process of growth and decline that retail outlets, like products, experience, which consists of the early growth, accelerated development, maturity and decline stages.
a) Innovation:- A new organization is born, it improves the convenience or creates other advantages to the final customers that differ sharply from those offered by other retailers. This is the stage of innovation, where the organization has a few competitors.
b) Accelerated Growth:- The retail Source: CoolInterview.com
Question: State the challenges faced by Indian organised retailers.

Answer: Following are the challenges faced by Indian organised retailers:
1. International Standards
2. Inefficient Supply Chain Management
3. Lack of Retail Space
4. Cultural Disparity
5. Escalating Real Estate Prices
6. Human Resource Problems
7. Frauds in Retail
8. Infrastructure and Logistics
9. Complexity in Tax Structure
10. Currency Fluctuation
11. Red- tapisim
12. Political Risk. Source: CoolInterview.com
Question: What do you understand by the retail accordion?

Answer: The retail accordion aspect of cyclical theory suggests that some businesses go from outlets that offer an array of products to establishments providing a narrow selection of goods and services. These establishments later turn to a generalized outlet store. Retail accordion is also known as general- specific- general theory. Source: CoolInterview.com
Question: What is a factory outlet?

Answer: Factory outlet is a retail store that sells discounted price items that are irregular,outdated or have been produced in excess quantities. A factory outlet store specializing in selling goods from a particular business might be located in physical proximity to its manufacturing facilities or in association with other factory outlet stores. Source: CoolInterview.com
Question: What is a warehouse store?

Answer: Warehouse store is a mass retailing of merchandise such as groceries, hardware, home furnishing, over-the-counter drugs etc., through a super store that offers very low prices and little or no customer service. These stores offer no frill experience and warehouse shelving stocked well with merchandise intended to move at higher volumes. Warehouse stores are also known as warehouse supermarket. Source: CoolInterview.com

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