Rise Up Retail Industry Fundamentals Final Exam Solved Correctly.

Rise Up Retail Industry Fundamentals
Final Exam Solved Correctly.
products - Answer physical goods that you can buy and sell



services - Answer things that you pay for--someone's expertise--they are intangible things



retail - Answer the process of selling products and services to customers in order to earn a profit



customers - Answer people who purchase goods and services from a business



retail ecosystem - Answer an interconnected system of approaches designed to meet the goal of retail



goal of retail - Answer provide customers with the goods and services they want--when, where, and
how they want them



multichannel retail - Answer customers have many channels, but the channels are not connected to
one another



omnichannel retail - Answer customers have many channels, and the channels are connected using
technology



manufacturer - Answer they produce or make finished products



wholesaler - Answer buys large quantities of products from the manufacturer and then sells small
quantities to retailers



what are the 3 distribution channels - Answer selling directly to customers, selling through retailers,
and selling through wholesalers