RETAIL INDUSTRY FUNDAMENTALS

Account Takeover - Answer-A type of economic fraud in which thieves steal customer login information and then use it to access their retailer loyalty accounts. Also called loyalty fraud. Active Listening - Answer-A structured from of listening and responding that focuses the attention on the speaker. Advertising - Answer-the activity of explicitly paying for media space or time in order to direct favorable attention to certain goods or services Add-on Services - Answer-Available services for specific product purchases that costumers can opt for (e. g., payment options, product modifications etc.) Alterations - Answer-Modifications to products that help them best meet the needs of customers (e.g., the tailoring of clothing items or installing additional memory in a labtop) Americans with Disabilities Act (ADA) - Answer-Passed by Congress in 1991, this act banned discrimination against the disabled in employment and mandated easy access to all public and commercial buildings. analytical communication style - Answer-A communication style in which a person tends to ask a lot of questions and behave methodically. Typically wants the important data, facts and logic. Anit-theft methods - Answer-Practices and devices used to manage and minimize deliberate preventable losses. Examples include: non-electronic ink tags, mirrors, closed-circuit cameras, display or fixture locks, cables, chains and alarms and uniformed security guards. Asset Protection - Answer-Also referred to as loss prevention: The branch of retail in charge of implementing actions plans to reduce waste, breakage or theft and increase safety. at-will employment - Answer-The employment relationship that exists when employers can hire any employee they choose and dismiss an employee with or without cause at any time. Employees can also elect to work for the employer or to terminate the relationship anytime they desire to do so. Automated fraud - Answer-A type of ecommerce fraud in which cyber-criminals either