NRF BUSINESS OF RETAIL
CERTIFICATION EXAM CORRECT
100%
brick-and-mortar - ANSWERthe presence of a physical storefront and face-to-face
customer experiences
closeout stores - ANSWERoff-price stores that offer an assortment of brand-name
merchandise at a significant discount off the manufacturer's price
commercial cue - ANSWERadvertising message that impacts purchase decisions
comparison shopper - ANSWERthe customer who spends time searching for the best
price or deal on the item she is looking to purchase
convenience stores - ANSWERthese stores aim at providing their customers a
convenient shopping experience. the general merchandise stores are easily accessible,
small in size, with quick shopping and easy checkout
corporate chain - ANSWERa company that operates multiple stores under common
ownership, and usually has centralized decision-making
gross domestic product (gdp) - ANSWERthe monetary value of all the finished goods
and services produced within a country annually
impulse buyer - ANSWERthe person who makes quick purchase decisions
independent establishment - ANSWERtypically single store or a small, regional chain
innovative customer - ANSWERthe buyer who wants to be the first to purchase and own
the latest merchandise
manufacturer - ANSWERproduces the products
multi-channel - ANSWERretail operations with customer transactions possible through
multiple connected channels
off-price retailers - ANSWERoffer brand name merchandise at a discount. the
merchandise typically consists of excess inventory, closeouts and irregulars
omnichannel - ANSWERsimilar to multi-channel retailing, with the focus on creating a
seamless consumer experiences through any and all shopping channels
, outlet stores - ANSWERoff prices stores that are owned by the manufacturer or retailer
physical cue - ANSWERa physical need such as hunger or thirst that drives behavior
recreational shopper - ANSWERthis customer shops for fun, and therefore shopping
does not necessarily mean always making a purchase
retailer - ANSWERreceives, stores, displays, and presents the products to customers
retailing - ANSWERno matter what format it takes, retailing is the method by which
customers acquire products and services
social cue - ANSWERdecision making based on the suggestion or preference of a
friend, colleague, or family member
specialty stores - ANSWERthis segment focuses on deep but narrow assortments with
a high level of customer service
stimulus - ANSWERa thing or event that causes a
supercenters - ANSWERThese stores typically combine a supermarket and a
department store, resulting in a gigantic retail facility that carries an enormous range of
products, from apparel to groceries to automotive supplies, all under one roof.
supermarkets - ANSWERThese stores sell a wide variety of goods including food,
alcohol, and medicine.
target market - ANSWERa defined customer who has the need, desire, and ability to
buy a retailer's products.
wholesale clubs - ANSWERwholesalers who sell products in bulk directly to consumers.
these clubs typically require a membership
wholesaler - ANSWERbuys large quantities of products directly from the manufacturer,
breaks them into smaller units, and sells the smaller units to retailers
active listening - ANSWERa structured form of listening and responding that focuses the
attention on the speaker. the listener must take care to attend to the speaker fully, and
then repeat, in the listener's own words, what he or she thinks the speaker has said
benefits - ANSWERadvantages or rewards of features
closed-ended questions - ANSWERQuestions that tend to evoke one-word answers:
yes or no. The aim of using closed-ended questions is to limit talking or to control the
direction of conversation, such as when you want to narrow the scope of the
CERTIFICATION EXAM CORRECT
100%
brick-and-mortar - ANSWERthe presence of a physical storefront and face-to-face
customer experiences
closeout stores - ANSWERoff-price stores that offer an assortment of brand-name
merchandise at a significant discount off the manufacturer's price
commercial cue - ANSWERadvertising message that impacts purchase decisions
comparison shopper - ANSWERthe customer who spends time searching for the best
price or deal on the item she is looking to purchase
convenience stores - ANSWERthese stores aim at providing their customers a
convenient shopping experience. the general merchandise stores are easily accessible,
small in size, with quick shopping and easy checkout
corporate chain - ANSWERa company that operates multiple stores under common
ownership, and usually has centralized decision-making
gross domestic product (gdp) - ANSWERthe monetary value of all the finished goods
and services produced within a country annually
impulse buyer - ANSWERthe person who makes quick purchase decisions
independent establishment - ANSWERtypically single store or a small, regional chain
innovative customer - ANSWERthe buyer who wants to be the first to purchase and own
the latest merchandise
manufacturer - ANSWERproduces the products
multi-channel - ANSWERretail operations with customer transactions possible through
multiple connected channels
off-price retailers - ANSWERoffer brand name merchandise at a discount. the
merchandise typically consists of excess inventory, closeouts and irregulars
omnichannel - ANSWERsimilar to multi-channel retailing, with the focus on creating a
seamless consumer experiences through any and all shopping channels
, outlet stores - ANSWERoff prices stores that are owned by the manufacturer or retailer
physical cue - ANSWERa physical need such as hunger or thirst that drives behavior
recreational shopper - ANSWERthis customer shops for fun, and therefore shopping
does not necessarily mean always making a purchase
retailer - ANSWERreceives, stores, displays, and presents the products to customers
retailing - ANSWERno matter what format it takes, retailing is the method by which
customers acquire products and services
social cue - ANSWERdecision making based on the suggestion or preference of a
friend, colleague, or family member
specialty stores - ANSWERthis segment focuses on deep but narrow assortments with
a high level of customer service
stimulus - ANSWERa thing or event that causes a
supercenters - ANSWERThese stores typically combine a supermarket and a
department store, resulting in a gigantic retail facility that carries an enormous range of
products, from apparel to groceries to automotive supplies, all under one roof.
supermarkets - ANSWERThese stores sell a wide variety of goods including food,
alcohol, and medicine.
target market - ANSWERa defined customer who has the need, desire, and ability to
buy a retailer's products.
wholesale clubs - ANSWERwholesalers who sell products in bulk directly to consumers.
these clubs typically require a membership
wholesaler - ANSWERbuys large quantities of products directly from the manufacturer,
breaks them into smaller units, and sells the smaller units to retailers
active listening - ANSWERa structured form of listening and responding that focuses the
attention on the speaker. the listener must take care to attend to the speaker fully, and
then repeat, in the listener's own words, what he or she thinks the speaker has said
benefits - ANSWERadvantages or rewards of features
closed-ended questions - ANSWERQuestions that tend to evoke one-word answers:
yes or no. The aim of using closed-ended questions is to limit talking or to control the
direction of conversation, such as when you want to narrow the scope of the
