NRF Retail Industry Fundamentals
Exam GRADE A+ SOLUTIONS
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
Exam GRADE A+ SOLUTIONS
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
