Retail Industry Fundamentals Questions And
Answers Well Illustrated.
AccountyTakeovery-ycorrectyanswer.
Aytypeyofyeconomicyfraudyinywhichythievesystealycustomeryloginyinformationya
ndythenyuseyitytoyaccessytheiryretaileryloyaltyyaccounts.yAlsoycalledyloyaltyyfra
ud.
ActiveyListeningy-ycorrectyanswer.
Aystructuredyfromyofylisteningyandyrespondingythatyfocusesytheyattentionyon
ytheyspeaker.
Advertisingy-ycorrectyanswer.
theyactivityyofyexplicitlyypayingyforymediayspaceyorytimeyinyorderytoydirectyfavo
rableyattentionytoycertainygoodsyoryservices
Add-onyServicesy-ycorrectyanswer.
Availableyservicesyforyspecificyproductypurchasesythatycostumersycanyoptyfo
ry(e.yg.,ypaymentyoptions,yproductymodificationsyetc.)
Alterationsy-ycorrectyanswer.
Modificationsytoyproductsythatyhelpythemybestymeetytheyneedsyofycustomersy
(e.g.,ytheytailoringyofyclothingyitemsyoryinstallingyadditionalymemoryyinyaylabt
op)
AmericansywithyDisabilitiesyActy(ADA)y-
ycorrectyanswer.y PassedybyyCongressyiny1991, ythisyactybannedydiscriminatio
nyagainstytheydisabledyinyemploymentyandymandatedyeasyyaccessytoyallypubli
cyandycommercialybuildings.
analyticalycommunicationystyley-
ycorrectyanswer.y Aycommunicationystyleyinywhichyaypersonytendsytoyaskyay
lotyofyquestionsyandybehaveymethodically.yTypicallyywantsytheyimportantyd
ata,yfactsyandylogic.
Anit-theftymethodsy-ycorrectyanswer.
Practicesyandydevicesyusedytoymanageyandyminimizeydeliberateypreventable
ylosses.yExamplesyinclude: ynon-electronicyinkytags,ymirrors, yclosed-
circuitycameras,ydisplayyoryfixtureylocks,ycables,ychainsyandyalarmsyandyunif
ormedysecurityyguards.
,AssetyProtectiony-ycorrectyanswer.
Alsoyreferredytoyasylossyprevention:yTheybranchyofyretailyinychargeyofyimplem
entingyactionsyplansytoyreduceywaste,ybreakageyorytheftyandyincreaseysafety
.
at-willyemploymenty-ycorrectyanswer.
Theyemploymentyrelationshipythatyexistsywhenyemployersycanyhireyanyyemplo
yeeytheyychooseyandydismissyanyemployeeywithyorywithoutycauseyatyanyytime.y
Employeesycanyalsoyelectytoyworkyforytheyemployeryorytoyterminateytheyrelatio
nshipyanytimeytheyydesireytoydoyso.
Automatedyfraudy-ycorrectyanswer.
Aytypeyofyecommerceyfraudyinywhichycyber-
ycriminalsyeitherystealycreditycardyinformation yfromycustomersyorycreateyprog
ramsytoytestyrandomlyygeneratedycarynumbersyandyCVVycodesyuntilytheyyfind
yaycombinationythatyworks; ythenybotsyplaceymultipleytransactions yveryyquickl
yyusingytheystolenycreditycardynumber.
Audioyadsyonypodcasty-ycorrectyanswer.
Anyadvertisingystrategyyinywhichyretailersyuseypodcast-digitalyaudio-
messagesytoyadvertiseytheirymerchandise.
Availableyinventoryy(on-hand)y-ycorrectyanswer.
Theynumberyofyunitsywithinytheytotalyinventoryythatyareyavailableytoysell.
Averageycustomeryspendy-ycorrectyanswer.
Thisyrefersytoytheyaverageyamountythatyaycustomeryspendsyduringyaystoreyvisit
.yThisyinformationymightyhelpyaystoreyplanytheirysalesyandymarketingyapproach
es.
Barcodey-ycorrectyanswer. Aymachine-
readableyseriesyayparallelylines,yusedyinyretailytoycreateyayuniqueyitemyidentifi
er.
BodyyLanguageycuesy-ycorrectyanswer.
Consciousyoryunconsciousygesturesyandymovementsythatyexpressyintentions.y
Theseyareyaykeyyformyofynonverbalycommunication.
Bonusesy-ycorrectyanswer.
Monetaryyincentivesygivenytoyemployeesyforygreatyperformance.yRetailersyofte
nygiveybonusesytoyemployees,yteamsyorydepartmentsyoryevenytheyentireycomp
any.
, Brandypromisey-ycorrectyanswer.
Anyextensionyofytheycompanyybrandythatyreflectsytheybenefitsyofydoingybusin
essywithythem-foryexample,yprovidingyqualityycustomeryservice.
BreakawayyStatementsy-ycorrectyanswer.
Phrasesyusedytoysmoothytheytransitionybetweenyonycustomeryandytheynext
yoney(e.g.y"WouldyitybeyokyifyIygrabyayfewyitemsyforyanotherycustomer?")
broadcastyadvertisingy-ycorrectyanswer.
Commercialsyproducedyforytvyandyradio.yThisytermsyalsoyincludedyon-
screenymovieytheateryads.
Answers Well Illustrated.
AccountyTakeovery-ycorrectyanswer.
Aytypeyofyeconomicyfraudyinywhichythievesystealycustomeryloginyinformationya
ndythenyuseyitytoyaccessytheiryretaileryloyaltyyaccounts.yAlsoycalledyloyaltyyfra
ud.
ActiveyListeningy-ycorrectyanswer.
Aystructuredyfromyofylisteningyandyrespondingythatyfocusesytheyattentionyon
ytheyspeaker.
Advertisingy-ycorrectyanswer.
theyactivityyofyexplicitlyypayingyforymediayspaceyorytimeyinyorderytoydirectyfavo
rableyattentionytoycertainygoodsyoryservices
Add-onyServicesy-ycorrectyanswer.
Availableyservicesyforyspecificyproductypurchasesythatycostumersycanyoptyfo
ry(e.yg.,ypaymentyoptions,yproductymodificationsyetc.)
Alterationsy-ycorrectyanswer.
Modificationsytoyproductsythatyhelpythemybestymeetytheyneedsyofycustomersy
(e.g.,ytheytailoringyofyclothingyitemsyoryinstallingyadditionalymemoryyinyaylabt
op)
AmericansywithyDisabilitiesyActy(ADA)y-
ycorrectyanswer.y PassedybyyCongressyiny1991, ythisyactybannedydiscriminatio
nyagainstytheydisabledyinyemploymentyandymandatedyeasyyaccessytoyallypubli
cyandycommercialybuildings.
analyticalycommunicationystyley-
ycorrectyanswer.y Aycommunicationystyleyinywhichyaypersonytendsytoyaskyay
lotyofyquestionsyandybehaveymethodically.yTypicallyywantsytheyimportantyd
ata,yfactsyandylogic.
Anit-theftymethodsy-ycorrectyanswer.
Practicesyandydevicesyusedytoymanageyandyminimizeydeliberateypreventable
ylosses.yExamplesyinclude: ynon-electronicyinkytags,ymirrors, yclosed-
circuitycameras,ydisplayyoryfixtureylocks,ycables,ychainsyandyalarmsyandyunif
ormedysecurityyguards.
,AssetyProtectiony-ycorrectyanswer.
Alsoyreferredytoyasylossyprevention:yTheybranchyofyretailyinychargeyofyimplem
entingyactionsyplansytoyreduceywaste,ybreakageyorytheftyandyincreaseysafety
.
at-willyemploymenty-ycorrectyanswer.
Theyemploymentyrelationshipythatyexistsywhenyemployersycanyhireyanyyemplo
yeeytheyychooseyandydismissyanyemployeeywithyorywithoutycauseyatyanyytime.y
Employeesycanyalsoyelectytoyworkyforytheyemployeryorytoyterminateytheyrelatio
nshipyanytimeytheyydesireytoydoyso.
Automatedyfraudy-ycorrectyanswer.
Aytypeyofyecommerceyfraudyinywhichycyber-
ycriminalsyeitherystealycreditycardyinformation yfromycustomersyorycreateyprog
ramsytoytestyrandomlyygeneratedycarynumbersyandyCVVycodesyuntilytheyyfind
yaycombinationythatyworks; ythenybotsyplaceymultipleytransactions yveryyquickl
yyusingytheystolenycreditycardynumber.
Audioyadsyonypodcasty-ycorrectyanswer.
Anyadvertisingystrategyyinywhichyretailersyuseypodcast-digitalyaudio-
messagesytoyadvertiseytheirymerchandise.
Availableyinventoryy(on-hand)y-ycorrectyanswer.
Theynumberyofyunitsywithinytheytotalyinventoryythatyareyavailableytoysell.
Averageycustomeryspendy-ycorrectyanswer.
Thisyrefersytoytheyaverageyamountythatyaycustomeryspendsyduringyaystoreyvisit
.yThisyinformationymightyhelpyaystoreyplanytheirysalesyandymarketingyapproach
es.
Barcodey-ycorrectyanswer. Aymachine-
readableyseriesyayparallelylines,yusedyinyretailytoycreateyayuniqueyitemyidentifi
er.
BodyyLanguageycuesy-ycorrectyanswer.
Consciousyoryunconsciousygesturesyandymovementsythatyexpressyintentions.y
Theseyareyaykeyyformyofynonverbalycommunication.
Bonusesy-ycorrectyanswer.
Monetaryyincentivesygivenytoyemployeesyforygreatyperformance.yRetailersyofte
nygiveybonusesytoyemployees,yteamsyorydepartmentsyoryevenytheyentireycomp
any.
, Brandypromisey-ycorrectyanswer.
Anyextensionyofytheycompanyybrandythatyreflectsytheybenefitsyofydoingybusin
essywithythem-foryexample,yprovidingyqualityycustomeryservice.
BreakawayyStatementsy-ycorrectyanswer.
Phrasesyusedytoysmoothytheytransitionybetweenyonycustomeryandytheynext
yoney(e.g.y"WouldyitybeyokyifyIygrabyayfewyitemsyforyanotherycustomer?")
broadcastyadvertisingy-ycorrectyanswer.
Commercialsyproducedyforytvyandyradio.yThisytermsyalsoyincludedyon-
screenymovieytheateryads.
