NRF Retail Industry Fundamentals Exam Q&A 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
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