NRF Business Of Retail Certification Exam With Solutions
#1
Brick-and-mortar - correct answer the presence of a physical storefront and face-to-face
customer experiences
Closeout stores - correct answer off-price stores that offer an assortment of brand-name
merchandise at a significant discount off the manufacturer's price
Commercial cue - correct answer advertising message that impacts purchase decisions
Comparison shopper - correct answer the customer who spends time searching for the
best price or deal on the item she is looking to purchase
Convenience stores - correct answer these stores aim at providing their customers a
convenient shopping experience. The general merchandise stores are easily
accessible, small in size, with quick shopping and easy checkout
Corporate chain - correct answer a company that operates multiple stores under
common ownership, and usually has centralized decision-making
Demographics - correct answer quantifiable information about a customer such as
household size, income, education, occupation, and place of residence
Department stores - correct answer these stores offer good service and a broad variety
and assortment of products of mid-to-high quality
Direct selling - correct answer salespeople contact customers directly in a convenient
location, often at a customer's home; demonstrate product benefits; take orders; and
deliver the products or perform the services
Discount selling - correct answer these retailers offer a broad variety of merchandise,
limited service, and low prices
Distribution channel - correct answer the chain of businesses through which a good or
service passes until it reaches the end customer
Diverse shopper - correct answer this buyer is hard to predict or to understand. He
shops in many different places and is not obviously influenced by any one retail element
E-commerce - correct answer buying and selling through the internet via an electronic
device
Follower - correct answer this customer usually waits to see what the latest trend will
be, and is reluctant to try new products until friends have done so and reported on them
, Franchises - correct answer the license granted to another party to market a company's
goods or services in a particular territory
Gross domestic product (gdp) - correct answer the monetary value of all the finished
goods and services produced within a country annually
Impulse buyer - correct answer the person who makes quick purchase decisions
Independent establishment - correct answer typically single store or a small, regional
chain
Innovative customer - correct answer the buyer who wants to be the first to purchase
and own the latest merchandise
Manufacturer - correct answer produces the products
Multi-channel - correct answer retail operations with customer transactions possible
through multiple connected channels
Off-price retailers - correct answer offer brand name merchandise at a discount. The
merchandise typically consists of excess inventory, closeouts and irregulars
Omnichannel - correct answer similar to multi-channel retailing, with the focus on
creating a seamless consumer experiences through any and all shopping channels
Outlet stores - correct answer off prices stores that are owned by the manufacturer or
retailer
Physical cue - correct answer a physical need such as hunger or thirst that drives
behavior
Recreational shopper - correct answer this customer shops for fun, and therefore
shopping does not necessarily mean always making a purchase
Retailer - correct answer receives, stores, displays, and presents the products to
customers
Retailing - correct answer no matter what format it takes, retailing is the method by
which customers acquire products and services
Social cue - correct answer decision making based on the suggestion or preference of a
friend, colleague, or family member
Specialty stores - correct answer this segment focuses on deep but narrow assortments
with a high level of customer service
#1
Brick-and-mortar - correct answer the presence of a physical storefront and face-to-face
customer experiences
Closeout stores - correct answer off-price stores that offer an assortment of brand-name
merchandise at a significant discount off the manufacturer's price
Commercial cue - correct answer advertising message that impacts purchase decisions
Comparison shopper - correct answer the customer who spends time searching for the
best price or deal on the item she is looking to purchase
Convenience stores - correct answer these stores aim at providing their customers a
convenient shopping experience. The general merchandise stores are easily
accessible, small in size, with quick shopping and easy checkout
Corporate chain - correct answer a company that operates multiple stores under
common ownership, and usually has centralized decision-making
Demographics - correct answer quantifiable information about a customer such as
household size, income, education, occupation, and place of residence
Department stores - correct answer these stores offer good service and a broad variety
and assortment of products of mid-to-high quality
Direct selling - correct answer salespeople contact customers directly in a convenient
location, often at a customer's home; demonstrate product benefits; take orders; and
deliver the products or perform the services
Discount selling - correct answer these retailers offer a broad variety of merchandise,
limited service, and low prices
Distribution channel - correct answer the chain of businesses through which a good or
service passes until it reaches the end customer
Diverse shopper - correct answer this buyer is hard to predict or to understand. He
shops in many different places and is not obviously influenced by any one retail element
E-commerce - correct answer buying and selling through the internet via an electronic
device
Follower - correct answer this customer usually waits to see what the latest trend will
be, and is reluctant to try new products until friends have done so and reported on them
, Franchises - correct answer the license granted to another party to market a company's
goods or services in a particular territory
Gross domestic product (gdp) - correct answer the monetary value of all the finished
goods and services produced within a country annually
Impulse buyer - correct answer the person who makes quick purchase decisions
Independent establishment - correct answer typically single store or a small, regional
chain
Innovative customer - correct answer the buyer who wants to be the first to purchase
and own the latest merchandise
Manufacturer - correct answer produces the products
Multi-channel - correct answer retail operations with customer transactions possible
through multiple connected channels
Off-price retailers - correct answer offer brand name merchandise at a discount. The
merchandise typically consists of excess inventory, closeouts and irregulars
Omnichannel - correct answer similar to multi-channel retailing, with the focus on
creating a seamless consumer experiences through any and all shopping channels
Outlet stores - correct answer off prices stores that are owned by the manufacturer or
retailer
Physical cue - correct answer a physical need such as hunger or thirst that drives
behavior
Recreational shopper - correct answer this customer shops for fun, and therefore
shopping does not necessarily mean always making a purchase
Retailer - correct answer receives, stores, displays, and presents the products to
customers
Retailing - correct answer no matter what format it takes, retailing is the method by
which customers acquire products and services
Social cue - correct answer decision making based on the suggestion or preference of a
friend, colleague, or family member
Specialty stores - correct answer this segment focuses on deep but narrow assortments
with a high level of customer service
