NRF Retail Industry Fundamentals Exam 2023 Questions
and Answers Solved Correctly
A retail business, owned by shareholders and have centralized decision making
for their multiple store locations is called
corporation
In the retail product cycle, what step comes after distribution and products?
selling
What item is a retail product
car tire
A large facility that manufacturers sent large quantities of product to then
distributed to stores is called
distribution center
The period key term in retail for a period fo time that an item remains usable, or fir
for consumption is called:
shelf life
Customers of a popular shoe store chain can purchase items in-store and on-line
or via their mobile app. the customer also receives texts and emails about current
promotions and sales. This is an example of:
Omni-channel retailing
What's considered a retail service?
car wash
Merchandise without an expiration date like electronics, tools and home goods
typically have longer
shelf life
The repetitive cycle that occurs with retailers in regard to product assortment is
called:
the retail product cycle
Responsible for the production of finished products
manufacturer
People who purchase goods or services from a business are called:
customers
The selling goods and/or services to a customer is called
retail
What item is a retail sevice?
jewelry warranty
A person or a company that sells goods/or services to a customer is called a
retailer
Which of the following is most likely to be a role in a retail career
buyer
When distribution team members use replenishment reports to retrieve quantities
of items to be sent to stores they are:
picking **
Marketing programs that track purchase history, personal information and
preferences and provide incentives to loyal, repeat customers are called:
and Answers Solved Correctly
A retail business, owned by shareholders and have centralized decision making
for their multiple store locations is called
corporation
In the retail product cycle, what step comes after distribution and products?
selling
What item is a retail product
car tire
A large facility that manufacturers sent large quantities of product to then
distributed to stores is called
distribution center
The period key term in retail for a period fo time that an item remains usable, or fir
for consumption is called:
shelf life
Customers of a popular shoe store chain can purchase items in-store and on-line
or via their mobile app. the customer also receives texts and emails about current
promotions and sales. This is an example of:
Omni-channel retailing
What's considered a retail service?
car wash
Merchandise without an expiration date like electronics, tools and home goods
typically have longer
shelf life
The repetitive cycle that occurs with retailers in regard to product assortment is
called:
the retail product cycle
Responsible for the production of finished products
manufacturer
People who purchase goods or services from a business are called:
customers
The selling goods and/or services to a customer is called
retail
What item is a retail sevice?
jewelry warranty
A person or a company that sells goods/or services to a customer is called a
retailer
Which of the following is most likely to be a role in a retail career
buyer
When distribution team members use replenishment reports to retrieve quantities
of items to be sent to stores they are:
picking **
Marketing programs that track purchase history, personal information and
preferences and provide incentives to loyal, repeat customers are called:
