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Rise Up Retail Industry Fundamentals
Questions with Detailed Verified Answers
products
⼀Answer:- physical goods that you can buy and sell
services
⼀Answer:- Actions or activities that one person performs for another
retail
⼀Answer:- the process of selling products and services to customers
in order to earn a profit
customers
⼀Answer:- people who purchase goods and services from a
business
retail ecosystem
⼀Answer:- an interconnected system of approaches designed to
meet the goal of retail
multichannel retail
⼀Answer:- customers have many channels, but the channels are not
connected to one another
omnichannel retail
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⼀Answer:- customers have many channels, and the channels are
connected using technology
wholesaler
⼀Answer:- buys large quantities of products from the manufacturer
and then sells small quantities to retailers
what are the 3 distribution channels
⼀Answer:- selling directly to customers, selling through retailers, and
selling through wholesalers
4 types of retail ownership
⼀Answer:- independent, corporation, private company, and
franchise
Corporations
⼀Answer:- businesses that are owned by many investors who buy
shares of stock
allocation
⼀Answer:- distributing merchandise from the manufacturer to the
retailer
replenishment
⼀Answer:- to fill in a store's supply or inventory as it runs low
shelf life
Rise Up Retail Industry Fundamentals
Questions with Detailed Verified Answers
products
⼀Answer:- physical goods that you can buy and sell
services
⼀Answer:- Actions or activities that one person performs for another
retail
⼀Answer:- the process of selling products and services to customers
in order to earn a profit
customers
⼀Answer:- people who purchase goods and services from a
business
retail ecosystem
⼀Answer:- an interconnected system of approaches designed to
meet the goal of retail
multichannel retail
⼀Answer:- customers have many channels, but the channels are not
connected to one another
omnichannel retail
, Page | 2
⼀Answer:- customers have many channels, and the channels are
connected using technology
wholesaler
⼀Answer:- buys large quantities of products from the manufacturer
and then sells small quantities to retailers
what are the 3 distribution channels
⼀Answer:- selling directly to customers, selling through retailers, and
selling through wholesalers
4 types of retail ownership
⼀Answer:- independent, corporation, private company, and
franchise
Corporations
⼀Answer:- businesses that are owned by many investors who buy
shares of stock
allocation
⼀Answer:- distributing merchandise from the manufacturer to the
retailer
replenishment
⼀Answer:- to fill in a store's supply or inventory as it runs low
shelf life
