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NRF FOUNDATION RISE UP CERTIFICATION REVIEW QUESTIONS WITH CORRECT ANSWERS.
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NRF FOUNDATION RISE UP CERTIFICATION REVIEW QUESTIONS WITH CORRECT ANSWERS.
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NRF FOUNDATION RISE UPCERTIFICATION REVIEW QUESTIONS
WITH CORRECT ANSWERS
retail cc- ccAnswer ccprocess ccof ccselling ccproducts ccand/or ccservices ccto ccearn cca
ccprofit
retailer cc- ccAnswer cca ccbusiness ccor ccperson ccthat ccsells ccproducts ccand/or
ccservices ccto cccustomers
customers cc- ccAnswer ccpeople ccwho ccpurchase ccgoods ccor ccservices ccfrom cca
ccbusiness
products cc- ccAnswer cc(also cccalled ccmerchandise) ccare ccphysical ccgoods ccthat
ccare ccbought ccand ccsold
services cc- ccAnswer ccintangible cctransactions ccsuch ccas cclawn ccmowing, cchair
cccare, ccetc.
retail ccecosystem cc- ccAnswer ccinterconnected ccsystem ccof ccapproaches ccdesigned
ccto ccmeet ccthe ccgoal ccof ccretailing. ccIt's ccproviding cccustomers ccwith ccthe
ccexperience ccthey ccwant ccand ccneed.
multichannel ccretailing cc- ccAnswer ccmultiple ccbuying ccoptions, ccbut ccthey ccare ccall
ccseparate. ccFor ccexample, ccwhat ccis ccavailable cconline ccis ccnot ccavailable ccin-
store.
omnichannel ccretailing cc- ccAnswer ccmultiple ccbuying ccoptions ccthat ccare ccall
ccinterconnected. ccFor ccexample, ccbuying ccan ccitem cconline ccand ccpicking ccit ccup
ccat ccthe ccstore.
manufacturer cc- ccAnswer ccproduce ccfinished ccproducts
wholesaler cc- ccAnswer ccpurchases cclarge ccquantities ccfrom ccthe ccmanufacturer
ccand ccsells ccsmaller ccamounts ccto ccretailers
, independent ccownership cc- ccAnswer ccTypically, cca ccsingle ccstore, cconline ccsite,
ccor ccsmall ccregional ccchain. cc95% ccof ccretailers cchave ccjust ccone cclocation.
ccMost ccbusinesses ccin ccthe ccUS ccare ccunder ccthis cctype ccof ccownership
Corporations cc- ccAnswer cca ccbusiness ccowned ccby ccshareholders ccthrough
ccpublicly cctraded ccstock. ccCentralized ccdecision ccmaking ccfor ccall ccof ccit's
ccmultiple cclocations
Private ccCompany cc- ccAnswer ccOwnership ccis cclimited ccto cca ccsingle ccor ccsmall
ccgroup ccof ccinvestors cc(not ccrun ccby ccshareholders). ccCan ccbe cca cclarge
cccompany ccwith ccmultiple cclocations
Franchise cc- ccAnswer cca cclicense ccis ccgranted ccto ccanother ccentity ccto ccretail cca
cccompany's ccproducts ccor ccservices ccin cca ccparticular ccarea; ccconsistency ccin
ccthe cccustomer ccexperience ccis cccrucial
Retail ccsupports cc1 ccin cc______ ccAmerican ccJobs cc- ccAnswer cc4
Teens cc- ccAnswer ccThe ccretail ccindustry ccis ccthe cclargest ccemployer ccof ccthis
ccage ccgroup.
Retail ccProduct ccCycle cc- ccAnswer ccThis cccycle ccincludes ccthe ccfollowing ccsteps:
ccselection, ccallocation, ccdistribution, ccselling, ccmarkdowns
selection cc- ccAnswer ccgetting ccthe ccright ccproducts ccand ccservices ccto ccthe ccright
ccplace ccat ccthe ccright cctime ccfor cccustomers ccto ccpurchase
allocation cc- ccAnswer ccthe ccprocess ccof ccdistributing ccmerchandise ccto cca
ccretailer's cclocations. ccThe cclarger ccthe ccretailer, ccthe ccmore cccomplicated ccit
cccan ccbe.
distribution cc- ccAnswer ccthe ccprocess ccof cctaking ccproducts ccfrom ccwarehouse
ccand ccdistribution cccenters ccto ccstores ccto ccbe ccsold ccto cccustomers
On-hand ccInventory cc- ccAnswer ccThe ccproducts ccor ccmerchandise ccthat ccretailers
cchave ccin cctheir ccretail cclocations ccto ccsell.
Total ccInventory/Retail ccInventory cc- ccAnswer ccThe cccomplete cclisting ccof ccall ccthe
ccmerchandise cca ccretailer ccowns. ccIt ccis ccusually ccthe ccamount ccof ccmerchandise
ccowned ccthroughout ccthe ccretailer's ccentire ccenterprise.
safety ccstock cc- ccAnswer ccExcess ccinventory ccthat ccis cckept ccon cchand ccin cccase
cccustomers ccbuy ccmore ccthan ccthe cccompany ccestimated ccbefore ccthe ccnext
ccshipment ccarrives
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