POB Chapter 1 Test

The process of selling products and/org services to customers to earn a profit.​ (a)  

• retail
• goal of retailing
• services
• products

Intangible, they can't be physically owned by the customer.​ (a)  

• service
• products
• manufacturer
• goal of retailing

The first online shopping order was in 1994, the first mobile payment was in 2000, and to the introduction of omnichannel retailing was in 2015.

Some examples of franchise businesses are KFC, Pizza Hut, and Edible Arrangements.

An independent retail ownership example is Walmart.

Huda Kattan, a social media influencer, had over 50 million followers in 2019.

There are over 2 billion social media users worldwide.

Similar to multichannel retailing in that customers have the opportunity to interact with all of the available channels in the retail ecosystem​ (a)  

• omnichannel retailing
• multichannel retailing
• retail ecosystem
• manufacturer

Ownership is typically limited to a single or small number of owner investors,

​ (a)  

• private company
• franchise
• corporation
• independent

It is called merchandise are physical goods that are bought or sold.​ (a)  

• products
• services
• independent
• manufacturer