NRF Retail Industry
Fundamentals Exam
A retail business, owned by shareholders and have centralized decision making
for their multiple store locations is called - answers-corporation
In the retail product cycle, what step comes after distribution and products? - answers-
selling
What item is a retail product - answers-car tire
A large facility that manufacturers sent large quantities of product to then distributed to
stores is called - answers-distribution center
The period key term in retail for a period of time that an item remains usable, or fir for
consumption is called: - answers-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: - answers-Omni-channel retailing
What's considered a retail service? - answers-car wash
Merchandise without an expiration date like electronics, tools and home goods typically
have longer - answers-shelf life
The repetitive cycle that occurs with retailers in regard to product assortment is called: -
answers-the retail product cycle
Responsible for the production of finished products - answers-manufacturer
People who purchase goods or services from a business are called: - answers-
customers
The selling goods and/or services to a customer is called - answers-retail
What item is a retail service? - answers-jewelry warranty
A person or a company that sells goods/or services to a customer is called a - answers-
retailer
Fundamentals Exam
A retail business, owned by shareholders and have centralized decision making
for their multiple store locations is called - answers-corporation
In the retail product cycle, what step comes after distribution and products? - answers-
selling
What item is a retail product - answers-car tire
A large facility that manufacturers sent large quantities of product to then distributed to
stores is called - answers-distribution center
The period key term in retail for a period of time that an item remains usable, or fir for
consumption is called: - answers-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: - answers-Omni-channel retailing
What's considered a retail service? - answers-car wash
Merchandise without an expiration date like electronics, tools and home goods typically
have longer - answers-shelf life
The repetitive cycle that occurs with retailers in regard to product assortment is called: -
answers-the retail product cycle
Responsible for the production of finished products - answers-manufacturer
People who purchase goods or services from a business are called: - answers-
customers
The selling goods and/or services to a customer is called - answers-retail
What item is a retail service? - answers-jewelry warranty
A person or a company that sells goods/or services to a customer is called a - answers-
retailer
