NRF Foundation: Rise Up Certification Test with all
Correct & 100% Verified Answers |Latest Version |
Already Graded A+
retail ✔Correct Answer-process of selling products and/or services to earn a profit
retailer ✔Correct Answer-a business or person that sells products and/or services to
customers
customers ✔Correct Answer-people who purchase goods or services from a business
products ✔Correct Answer-(also called merchandise) are physical goods that are bought and
sold
services ✔Correct Answer-intangible transactions such as lawn mowing, hair care, etc.
retail ecosystem ✔Correct Answer-interconnected system of approaches designed to meet
the goal of retailing. It's providing customers with the experience they want and need.
multichannel retailing ✔Correct Answer-multiple buying options, but they are all separate.
For example, what is available online is not available in-store.
omnichannel retailing ✔Correct Answer-multiple buying options that are all interconnected.
For example, buying an item online and picking it up at the store.
manufacturer ✔Correct Answer-produce finished products
wholesaler ✔Correct Answer-purchases large quantities from the manufacturer and sells
smaller amounts to retailers
independent ownership ✔Correct Answer-Typically, a single store, online site, or small
regional chain. 95% of retailers have just one location. Most businesses in the US are under this
type of ownership
Corporations ✔Correct Answer-a business owned by shareholders through publicly traded
stock. Centralized decision making for all of it's multiple locations
Private Company ✔Correct Answer-Ownership is limited to a single or small group of investors
(not run by shareholders). Can be a large company with multiple locations
, Franchise ✔Correct Answer-a license is granted to another entity to retail a company's
products or services in a particular area; consistency in the customer experience is crucial
Retail supports 1 in ______ American Jobs ✔Correct Answer-4
Teens ✔Correct Answer-The retail industry is the largest employer of this age group.
Retail Product Cycle ✔Correct Answer-This cycle includes the following steps: selection,
allocation, distribution, selling, markdowns
selection ✔Correct Answer-getting the right products and services to the right place at the
right time for customers to purchase
allocation ✔Correct Answer-the process of distributing merchandise to a retailer's locations.
The larger the retailer, the more complicated it can be.
distribution ✔Correct Answer-the process of taking products from warehouse and
distribution centers to stores to be sold to customers
On-hand Inventory ✔Correct Answer-The products or merchandise that retailers have in their
retail locations to sell.
Total Inventory/Retail Inventory ✔Correct Answer-The complete listing of all the merchandise
a retailer owns. It is usually the amount of merchandise owned throughout the retailer's entire
enterprise.
safety stock ✔Correct Answer-Excess inventory that is kept on hand in case customers buy
more than the company estimated before the next shipment arrives
shelf life ✔Correct Answer-the amount of time that an item remains usable or salable.
company brand ✔Correct Answer-the overall impression gathered by what is seen, heard, and
experienced by customers
brand promise ✔Correct Answer-the extension of a company brand and why you would
benefit from doing business with them instead of their competitors.
company culture ✔Correct Answer-the unique way that an organization's employees interact
with each other and with customers
open-ended questions ✔Correct Answer-questions which invite the person you are speaking
to to provide details about what they want or need
Correct & 100% Verified Answers |Latest Version |
Already Graded A+
retail ✔Correct Answer-process of selling products and/or services to earn a profit
retailer ✔Correct Answer-a business or person that sells products and/or services to
customers
customers ✔Correct Answer-people who purchase goods or services from a business
products ✔Correct Answer-(also called merchandise) are physical goods that are bought and
sold
services ✔Correct Answer-intangible transactions such as lawn mowing, hair care, etc.
retail ecosystem ✔Correct Answer-interconnected system of approaches designed to meet
the goal of retailing. It's providing customers with the experience they want and need.
multichannel retailing ✔Correct Answer-multiple buying options, but they are all separate.
For example, what is available online is not available in-store.
omnichannel retailing ✔Correct Answer-multiple buying options that are all interconnected.
For example, buying an item online and picking it up at the store.
manufacturer ✔Correct Answer-produce finished products
wholesaler ✔Correct Answer-purchases large quantities from the manufacturer and sells
smaller amounts to retailers
independent ownership ✔Correct Answer-Typically, a single store, online site, or small
regional chain. 95% of retailers have just one location. Most businesses in the US are under this
type of ownership
Corporations ✔Correct Answer-a business owned by shareholders through publicly traded
stock. Centralized decision making for all of it's multiple locations
Private Company ✔Correct Answer-Ownership is limited to a single or small group of investors
(not run by shareholders). Can be a large company with multiple locations
, Franchise ✔Correct Answer-a license is granted to another entity to retail a company's
products or services in a particular area; consistency in the customer experience is crucial
Retail supports 1 in ______ American Jobs ✔Correct Answer-4
Teens ✔Correct Answer-The retail industry is the largest employer of this age group.
Retail Product Cycle ✔Correct Answer-This cycle includes the following steps: selection,
allocation, distribution, selling, markdowns
selection ✔Correct Answer-getting the right products and services to the right place at the
right time for customers to purchase
allocation ✔Correct Answer-the process of distributing merchandise to a retailer's locations.
The larger the retailer, the more complicated it can be.
distribution ✔Correct Answer-the process of taking products from warehouse and
distribution centers to stores to be sold to customers
On-hand Inventory ✔Correct Answer-The products or merchandise that retailers have in their
retail locations to sell.
Total Inventory/Retail Inventory ✔Correct Answer-The complete listing of all the merchandise
a retailer owns. It is usually the amount of merchandise owned throughout the retailer's entire
enterprise.
safety stock ✔Correct Answer-Excess inventory that is kept on hand in case customers buy
more than the company estimated before the next shipment arrives
shelf life ✔Correct Answer-the amount of time that an item remains usable or salable.
company brand ✔Correct Answer-the overall impression gathered by what is seen, heard, and
experienced by customers
brand promise ✔Correct Answer-the extension of a company brand and why you would
benefit from doing business with them instead of their competitors.
company culture ✔Correct Answer-the unique way that an organization's employees interact
with each other and with customers
open-ended questions ✔Correct Answer-questions which invite the person you are speaking
to to provide details about what they want or need
