RIF Review Sections 1 and 2

Front

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

Back

retail

Front

What's considered a retail service? Options: Car Wash, New Car, Car engine repair, New car tires

Back

Car Wash

Front

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

Back

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

Back

omnichannel retailing

Front

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

Back

customers

Front

The physical goods that can be bought and sold are called

Back

products

Front

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

Back

wholesaler

Front

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

Back

corporation

Front

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

Back

brand

Front

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

Back

retail product cycle