NRF Retail Industry Fundamentals Exam Questions And Answers.A retail business, owned by shareholders and have centralized decision making for their multiple store locations is calledAnswer - corporation In the retail product cycle, what step comes after distribution and products?Answer - selling What item is a retail productAnswer - car tire A large facility that manufacturers sent large quantities of product to then distributed to stores is calledAnswer - distribution center The period key term in retail for a period fo time that an item remains usable, or fir for
consumption is called:Answer - shelf life
Customers of a popular shoe store chain can purchase items in-store and on-line or via their mobile app. the customer also receives texts and emails about current
promotions and sales. This is an example of:Answer - Omni-channel retailing
What's considered a retail service?Answer - car wash Merchandise without an expiration date like electronics, tools and home goods typically have longerAnswer - shelf life The repetitive cycle that occurs with retailers in regard to product assortment is
called:Answer - the retail product cycle
Responsible for the production of finished productsAnswer - manufacturer
People who purchase goods or services from a business are called:Answer -
customers The selling goods and/or services to a customer is calledAnswer - retail What item is a retail sevice?Answer - jewelry warranty A person or a company that sells goods/or services to a customer is called aAnswer
- retailer
Which of the following is most likely to be a role in a retail careerAnswer - buyer When distribution team members use replenishment reports to retrieve quantities of
items to be sent to stores they are:Answer - picking **
Marketing programs that track purchase history, personal information and preferences and provide incentives to loyal, repeat customers are called:Answer - loyalty programs
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