Nrf Retail Industry Fundamentals Exam Questions With Correct Answers

NRF Retail Industry Fundamentals ExamQuestions And Answers. 1).A retail business, owned by shareholders and have centralized decision making for theirmultiple store locations is called Ans: corporation2).In the retail product cycle, what step comes after distribution and products? Ans: selling3).What item is a retail product Ans: car tire4).A large facility that manufacturers sent large quantities of product to then distributed tostores is called Ans: distribution center5).The period key term in retail for a period fo time that an item remains usable, or fir forconsumption is called: Ans: shelf life6).Customers of a popular shoe store chain can purchase items in-store and on-line or via theirmobile app. the customer also receives texts and emails about current promotions andsales. this is an example of: Ans: Omni-channel retailing7).What's considered a retail service? Ans: car wash8).PaperStoc.comPage 1 of 4Merchandise without an expiration date like electronics, tools and home goods typicallyhave longer Ans: shelf life9).The repetitive cycle that occurs with retailers in regard to product assortment is called: Ans: the retail product cycle10).Responsible for the production of finished products Ans: manufacturer11).People who purchase goods or services from a business are called: Ans: customers12).The selling goods and/or services to a customer is called Ans: retail13).What item is a