100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
NRF Foundation: Rise Up Certification Review – Qs & As $9.99   Add to cart

Exam (elaborations)

NRF Foundation: Rise Up Certification Review – Qs & As

 6 views  0 purchase
  • Course
  • NRF Rise Up
  • Institution
  • NRF Rise Up

NRF Foundation: Rise Up Certification Review – Qs & As

Preview 2 out of 7  pages

  • September 25, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • NRF Rise Up
  • NRF Rise Up
avatar-seller
Studyhall
NRF Foundation: Rise Up Certification Review – Qs & As

Retail Right Ans - process of selling products and/or services to earn a
profit

Retailer Right Ans - a business or person that sells products and/or
services to customers

Customers Right Ans - people who purchase goods or services from a
business

Products Right Ans - (also called merchandise) are physical goods that are
bought and sold

Services Right Ans - intangible transactions such as lawn mowing, hair
care, etc.

Retail ecosystem Right Ans - interconnected system of approaches
designed to meet the goal of retailing. It's providing customers with the
experience they want and need.

Multichannel retailing Right Ans - multiple buying options, but they are all
separate. For example, what is available online is not available in-store.

Omnichannel retailing Right Ans - multiple buying options that are all
interconnected. For example, buying an item online and picking it up at the
store.

Manufacturer Right Ans - produce finished products

Wholesaler Right Ans - purchases large quantities from the manufacturer
and sells smaller amounts to retailers

Independent ownership Right Ans - Typically, a single store, online site, or
small regional chain. 95% of retailers have just one location. Most businesses
in the US are under this type of ownership

, Corporations Right Ans - a business owned by shareholders through
publicly traded stock. Centralized decision making for all of it's multiple
locations

Private Company Right Ans - Ownership is limited to a single or small
group of investors (not run by shareholders). Can be a large company with
multiple locations

Franchise Right Ans - a license is granted to another entity to retail a
company's products or services in a particular area; consistency in the
customer experience is crucial

Retail supports 1 in ______ American Jobs Right Ans - 4

Teens Right Ans - The retail industry is the largest employer of this age
group.

Retail Product Cycle Right Ans - This cycle includes the following steps:
selection, allocation, distribution, selling, markdowns

Selection Right Ans - getting the right products and services to the right
place at the right time for customers to purchase

Allocation Right Ans - the process of distributing merchandise to a
retailer's locations. The larger the retailer, the more complicated it can be.

Distribution Right Ans - the process of taking products from warehouse
and distribution centers to stores to be sold to customers

On-hand Inventory Right Ans - The products or merchandise that retailers
have in their retail locations to sell.

Total Inventory/Retail Inventory Right Ans - The complete listing of all the
merchandise a retailer owns. It is usually the amount of merchandise owned
throughout the retailer's entire enterprise.

Safety stock Right Ans - Excess inventory that is kept on hand in case
customers buy more than the company estimated before the next shipment
arrives

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Studyhall. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81989 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.99
  • (0)
  Add to cart