Retail Industry Fundamentals: Introduction Questions and 100% Correct Answers 2024 VERSION
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Course
NRF
Institution
NRF
Retail Industry Fundamentals: Introduction Questions and 100% Correct Answers 2024 VERSION
Account Takeover - ANSWER A type of economic fraud in which thieves steal customer login information and then use it to access their retailer loyalty accounts. Also called loyalty fraud.
Active Li...
Retail Industry
Fundamentals: Introduction
Questions and 100%
A
Correct Answers 2024
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VERSION
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Account Takeover - ANSWER A type of economic fraud in which thieves steal
customer login information and then use it to access their retailer loyalty accounts. Also
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called loyalty fraud.
Active Listening - ANSWER A structured from of listening and responding that
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focuses the attention on the speaker.
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Advertising - ANSWER the activity of explicitly paying for media space or time in
order to direct favorable attention to certain goods or services
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Add-on Services - ANSWER Available services for specific product purchases that
costumers can opt for (e. g., payment options, product modifications etc.)
Alterations - ANSWER Modifications to products that help them best meet the needs
of customers (e.g., the tailoring of clothing items or installing additional memory in a
labtop)
, Americans with Disabilities Act (ADA) - ANSWER Passed by Congress in 1991, this
act banned discrimination against the disabled in employment and mandated easy
access to all public and commercial buildings.
analytical communication style - ANSWER A communication style in which a person
tends to ask a lot of questions and behave methodically. Typically wants the important
data, facts and logic.
Anit-theft methods - ANSWER Practices and devices used to manage and minimize
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deliberate preventable losses. Examples include: non-electronic ink tags, mirrors,
closed-circuit cameras, display or fixture locks, cables, chains and alarms and
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uniformed security guards.
Asset Protection - ANSWER Also referred to as loss prevention: The branch of retail
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in charge of implementing actions plans to reduce waste, breakage or theft and
increase safety.
at-will employment - ANSWER The employment relationship that exists when
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employers can hire any employee they choose and dismiss an employee with or without
cause at any time. Employees can also elect to work for the employer or to terminate
the relationship anytime they desire to do so.
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Automated fraud - ANSWER A type of ecommerce fraud in which cyber-criminals
either steal credit card information from customers or create programs to test randomly
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generated car numbers and CVV codes until they find a combination that works; then
bots place multiple transactions very quickly using the stolen credit card number.
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Audio ads on podcast - ANSWER An advertising strategy in which retailers use
podcast-digital audio-messages to advertise their merchandise.
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Available inventory (on-hand) - ANSWER The number of units within the total
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inventory that are available to sell.
Average customer spend - ANSWER This refers to the average amount that a
customer spends during a store visit. This information might help a store plan their sales
and marketing approaches.
Barcode - ANSWER A machine-readable series a parallel lines, used in retail to
create a unique item identifier.
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