Retail Industry Fundamentals Questions With Correct Answers

Account Takeover - answer--A type of economic fraud in which thieves steal customer login information and then use it to access their retailer loyalty accounts. Also called loyalty fraud. Active Listening - answer--A structured from of listening and responding that focuses the attention on the speaker. Advertising - answer--the activity of explicitly paying for media space or time in order to direct favorable attention to certain goods or services Add-on Services - answer--Available services for specific product purchases that costumers can opt for (e. g., payment options, product modifications etc.) Alterations - answer--Modifications to products that help them best meet the needs of customers (e.g., the tailoring of clothing items or installing additional memory in a labtop) Americans with Disabilities Act (ADA) - answer--Passed by Congress in 1991, this act banned discrimination against the disabled in employment and mandated easy access to all public and commercial buildings. analytical communication style - answer--A communication style in which a person tends to ask a lot of questions and behave methodically. Typically wants the important data, facts and logic. Anit-theft methods - answer--Practices and devices used to manage and minimize deliberate preventable losses. Examples include: non-electronic ink tags, mirrors, closed-circuit cameras, display or fixture locks, cables, chains and alarms and uniformed security guards. Asset Protection - answer--Also referred to as loss prevention: The branch of retail in charge of implementing actions plans to reduce waste, breakage or theft and increase safety.