RIF Review #1

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The selling of goods and/or services to a customer is called

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retail

Front

What's considered a retail service?

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Car Wash

Front

Which item is considered a retail product? Options: New refrigerator, Refrigerator Repair, Refrigerator Delivery, Extended warranty for a refrigerator

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New refrigerator

Front

Customers of a popular shoe store chain can purchase items in-store, online, and via their mobile app. Customers also receive texts and emails about current promotions and sales. This is an example of

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omnichannel retailing

Front

People who purchase goods or services from a business are called:

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customers

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The physical goods that can be bought and sold are called

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products

Front

This type of business buys large quantities of product from manufacturers and sells them to retailers.

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wholesaler

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A retail business, owned by share holders that has a centralized decision making board for their multiple locations is called a

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corporation

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A company's image and reputation, how the outside world sees the product or company, is also called the company's

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brand

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The repetitive cycle that occurs with retailers in regard to product assortment is called

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retail product cycle