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