NRF Retail Industry Fundamentals Exam

NRF Retail Industry Fundamentals Exam A retail business, owned by shareholders and have centralized decision making for their multiple store locations is called - ✔✔corporation In the retail product cycle, what step c ...

NRF Retail Industry Fundamentals Exam A retail business, owned by shareholders and have centralized decision making for their multiple store locations is called - ✔✔corporation In the retail product cycle, what step comes after distribution and products? - ✔✔selling What item is a retail product - ✔✔car tire A large facility that manufacturers sent large quantities of product to then distributed to stores is called - ✔✔distribution center The period key term in retail for a period fo time that an item remains usable, or fir for consumption is called: - ✔✔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: - ✔✔Omni-channel retailing What's considered a retail service? - ✔✔car wash Merchandise without an expiration date like electronics, tools and home goods typically have longer - ✔✔shelf life The repetitive cycle that occurs with retailers in regard to product assortment is called: - ✔✔the retail product cycle Responsible for the production of finished products - ✔✔manufacturer People who purchase goods or services from a business are called: - ✔✔customers The selling goods and/or services to a customer is called - ✔✔retail What item is a retail sevice? - ✔✔jewelry warranty A person or a company that sells goods/or services to a customer is called a - ✔✔retailer Which of the following is most likely to be a role in a retail career - ✔✔buyer When distribution team members use replenishment reports to retrieve quantities of items to be sent to stores they are: - ✔✔picking ** Marketing programs that track purchase history, personal information and preferences and provide incentives to loyal, repeat customers are called: - ✔✔loyalty programs Who is responsible for making sure the safety exits aren't clocked and are free to be used in an emergency - ✔✔police officer What common events could result in inventory shrinkage - ✔✔product was stolen form the store Which of the following does not cause inventory shrinkage? - ✔✔products the retailer forgot to order Which if the following key performance indicators can be used to measure whether each store is meeting its sales goals? - ✔✔number of sales per store location When planning for inventory, a company's goal is to have - ✔✔more supply than demand What organization oversees and controls workplace safety regulations? - ✔✔OSHA Preventing injury and illness to customers and employees is called - ✔✔workplace safety When you have key information about a company's products and services and use it to help customers understand how these products and services meet their needs, you have: - ✔✔product knowledge Which of the following key performance indicators can be used to measure whether all employees in the company are reaching their sales goals? - ✔✔Number of sales per employee In the customer loyalty life cycle, the customer has a want or need, then considered different purchasing options. What step comes next? - ✔✔customer chooses a buying option Which of the following is a good tip for connecting with customers in a retail store? - ✔✔greet within 30 seconds of their arrival During the selling process, you assess the needs of the customer by asking the questions that get the customer tp provide details about what they want or need. These questions are typically not answered with a yes or no - ✔✔open-ended questions Which of the following does the OSHA require companies to do tp help keep the employees safe? - ✔✔Train employees how to respond when an accident occurs