NRF Retail Industry Fundamentals Exam questions and Answers Latest Update Fully Solved 100%

Merchandise without an expiration date like electronics, tools and home goods typically have longer - shelf life Which if the following key performance indicators can be used to measure whether each store is meeting its sales goals? - number of sales per store location 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 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: - customersThe 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 A retail business, owned by shareholders and have centralized decision making for their multiple store locations is called - corporation When distribution team members use replenishment reports to retrieve quantities of items to be sent to stores they are: - picking ** Which of the following does the OSHA require companies to do tp help keep the employees safe? - Train employees how to respond when an accident occurs Marketing programs that track purchase history, personal information and preferences and provide incentives to loyal, repeat customers are called: - loyalty programs What common events could result in inventory shrinkage - product was stolen form the store Which of the following does not cause inventory shrinkage? - products the retailer forgot to order When planning for inventory, a company's goal is to have - more supply than demand What organization oversees and controls workplace safety regulations? - OSHA Preventing injury and illness to customers and employees is called - workplace safety