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NRF Business of Retail Chapter 1: Retail Industry Overview With Questions And
100% SURE ANSWERS
Terms in this set (23)
Retail the process of selling products and/or services to customers in order to earn a profit
retailer a business or person that sells products and/or services to customers
Customers shoppers, those who purchase goods and services from a business
products merchandise, are physical goods that are bought and sold
intangible (Can't be physically owned by the customer) transactions such as lawn mowing, hair
services
care, personal trainers
An interconnected system of approaches for meeting the goal of retailing, which is to provide
retail ecosystem customers with the merchandise and services they want- when, where, and how they want to
experience and purchase them.
a retail model that offers customers the opportunity to interact with the multiple options in
multichannel retailing
their ecosystem. These may or may not be systemically connected to each other.
NRF Business of Retail Chapter 1: Retail Industry Overview
1/3
NRF Business of Retail Chapter 1: Retail Industry Overview With Questions And
100% SURE ANSWERS
Terms in this set (23)
Retail the process of selling products and/or services to customers in order to earn a profit
retailer a business or person that sells products and/or services to customers
Customers shoppers, those who purchase goods and services from a business
products merchandise, are physical goods that are bought and sold
intangible (Can't be physically owned by the customer) transactions such as lawn mowing, hair
services
care, personal trainers
An interconnected system of approaches for meeting the goal of retailing, which is to provide
retail ecosystem customers with the merchandise and services they want- when, where, and how they want to
experience and purchase them.
a retail model that offers customers the opportunity to interact with the multiple options in
multichannel retailing
their ecosystem. These may or may not be systemically connected to each other.
NRF Business of Retail Chapter 1: Retail Industry Overview
1/3
