2025/2026 EXAM WITH COMPLETE QUESTIONS AND ANSWERS
.VERIFED/GRADED A+.
Franchise - ----Answers---A license granted to another
entity to retail a company's products or services in a particular
order.
Impulse buyer - ----Answers---A customer who makes quick
purchase decisions, often for inexpensive items that do not
have a high importance to the buyer.
Independent retailer - ----Answers---A retail business
owned by an individual (single store or a small regional chain
of stores)
Innovation/ trend buyer - ----Answers---a customer who is
motivated to be one of the first to purchase the newest
technology, fashion, east at a new restaurant, or see the latest
movie.
Loyal customer - ----Answers---A shopper who repeatedly
chooses to shop at the same retailer over others, usually
because of positive customer experiences with the retailer
and their products and/ or services.
, Loyalty - ----Answers---The likelihood that a customer will
shop at a particular retailer again and again.
Manufacturer - ----Answers---Any entity that produces
finished products
Motivation - ----Answers---The reason someone behaves a
certain way and that influences the way consumers make
purchase decisions. Motivation can be swayed by both internal
and external signals.
Multichannel retailing - ----Answers---a retail model that
offers customers the opportunity to interact with multiple
options in their ecosystem. These channels are not connected.
Omnichannel retailing - ----Answers---a retail model that
integrates multiple channels of a retail ecosystem to create a
seamless consumer experience through the use of technology
Recreational shopper - ----Answers---A customer who views
shopping as a fun occasion, rather than looking for specific
merchandise or services. This customer's mindset focuses on
adventure and leisure.
Retail ecosystem - ----Answers---An interconnected system
of approaches for meeting the goal of retailing, which is to
provide customers with the merchandise and services they
want- when, where, and how they want to experience and
purchase them.