Exam (elaborations)
Rise Up- Ch. 1
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Exam of 2 pages for the course Rise Up- Ch. 1 at Rise Up- Ch. 1 (Rise Up- Ch. 1)
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Rise Up- Ch. 1Retail Cycle - -Selection-Allocation-Distribution-Selling-Markdowns
-Logistics - -those activities that focus on getting the right amount of the
right products to the right place at the right time at the lowest possible cost
-Inbound - -employees in charge of unloading the incoming pallets of
product from manufacturers and then either send them to the outbound
team or to the warehouse.
-retail - -the process of selling products and or services to customers in
order to earn a profit.
-retailer - -a business whose sales come primarily from selling products or
services to customers. Each retailer selects merchandise or services to
customers based on the needs of a specific store, region, or community.
-Customers - -those who pay to use an organization's goods or services
-Products - -also called merchandise, are physical goods that are bought
and sold, such as food, clothes, and household items.
-service - -an activity, benefit, or satisfaction offered for sale that is
essentially intangible and does not result in the ownership of anything
-Retail ecosystem - -An interconnected system of approaches for meeting
the goal of retailing, which is to provide customers with the merchandise and
services they want- when, where, and how they want to experience and
purchase them.
-multichannel retailing - -providing multiple distribution channels for
consumers to buy a product such as online or in-store
-omnichannel retailing - -creating a seamless cross-channel buying
experience that integrates in-store, online, and mobile shopping
-Geotargeting - -identifying a user's physical location for the purpose of
delivering tailored ads or other content
-manufacture - -to make by hand or by machine; to change raw material
into a new product. Ex. clothes, light bulbs, frozen pizza.
-wholesaler - -A type of business that buys goods in large amounts and
resells them to other businesses in smaller lots.
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