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