NRF Exam 2 Questions with 100% Correct Answers | Verified | Updated 2023-2024, Exams of Advanced Education

Download NRF Exam 2 Questions with 100% Correct Answers | Verified | Updated 2023-2024 and more Exams Advanced Education in PDF only on Docsity! NRF Exam 2 Questions with 100% Correct Answers | Verified | Updated 2023-2024 Who is the most important person in a retail transaction? - Correct Answer-Customer The overall impression someone gets of a busniess or product. - Correct Answer- Company or Product Brand Uinque way employes interact with each other and customers - Correct Answer- Company Culture Things that can happen as a result of poor cusomer service - Correct Answer-- Loss of profit - Customers won't return - Tell others about thier bad experience Steps in the Cumstomer Loyalty Life Cycle (6 steps) - Correct Answer-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) - Correct Answer-1. Greet the customer 2. LIsten 3. Understand what they need 4. Respond 5. Deliver/ sell After 1 negative expereince what will happen? - Correct Answer-50% of people will not return to that store A group of people trying to reach a common goal - Correct Answer-Team All the inventory owned by a retailer (in all locations) - Correct Answer-Total Inventory Number of items avaiable to sell - Correct Answer-On-Hand Inventory Retailers order things based on - Correct Answer-supply & demand What is supply? - Correct Answer-how mcuh they order or have in the store