NRF Exam 2 Questions and Answers Graded A

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NRF Exam 2 Questions and Answers Graded A Who is the most important person in a retail transaction? ✔✔Customer The overall impression someone gets of a busniess or product. ✔✔Company or Pro... duct Brand Uinque way employes interact with each other and customers ✔✔Company Culture Things that can happen as a result of poor cusomer service ✔✔- Loss of profit - Customers won't return - Tell others about thier bad experience Steps in the Cumstomer Loyalty Life Cycle (6 steps) ✔✔1. Customer has a want or need 2. Customer considers purchase option 3. Customer chooses a buying option 4. Customer likes or disklikes thier expereince 5. Customer purchase from that retailer again 6. Customers tells others about their expereince Customer Service Process (5 steps) ✔✔1. Greet the customer 2. LIsten 3. Understand what they need 4. Respond 5. Deliver/ sell After 1 negative expereince what will happen? ✔✔50% of people will not return to that store A group of people trying to reach a common goal ✔✔Team All the inventory owned by a retailer (in all locations) ✔✔Total Inventory Number of items avaiable to sell ✔✔On-Hand Inventory Retailers order things based on ✔✔supply & demand What is supply? ✔✔how mcuh they order or have in the store What is demand? ✔✔How much customers want to buy or need What is Inventory Replenishment? ✔✔Automatic or manually order more products POS stands for ✔✔Point of Sale System POS is used for ✔✔tracking inventory Parts of POS system ✔✔barcodes, scanners, registers, card readers, recipets, apps, kiosks, etc. Every product has a __________ to track it ✔✔barcode Placing inventory on the sales floor shelves is called _________ ✔✔stocking What is Saftey Stock? ✔✔extra inventory kept on hand in case customers buy more than expected Most improtant skills in inventory tracking ✔✔attention to detail & organization What is a supplier? ✔✔anyone who provides a good or service to a company Develop strategies to promote a product ✔✔Marketing Examples of Marketing ✔✔flyers, billboards, online advertisments, promotions, sales, billboards, etc. [Show More]

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