F: E2

Brand

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

$16.53

A customer makes a purchase and their transaction total is $23.47. The customer pays with $40.00 in cash. How much change should they receive?

$10,000 shortage

A retailer completes a physical audit of the store's inventory. The total inventory was $100,000. Accounting books say there should be $110,000 in inventory. What's the amount of the inventory variation?

retailer prices products

According to the inventory life cycle, after a retailer receives products, the next step is

Phase 2-The customer considers differnet purchasing options

After a customer's televisionn breaks and the customer learns it can't be fixed, the customer looks online to learn more about which televisions are sold at the different retailers nearby. Which phase of the customer life cycle does this example best represent?

Customer life cycle phase 4 -customer likes or doesn't like their experience

After purchasing a new car, a customer is satisfied with the service received from the sales person. Which phase of the customer life cycle does this example best represent?

key performance indicators

Companies measure whether they're reaching sales goals using KPIs, also called

COGS

Cost of Goods Sold

C. Customer chooses a buying option

In the customer loyalty life cycle, the customer has a want or need, then considers different purhcasing options. What step comes next?

loyalty programs

Marketing programs that track purchase history, personal information and preferences and provide incentives to loyal, repeat customers are called:

More demand than supply

Read the inventory scenario, then select the best answer below: A grocery store plans to sell 100 gallos to merchandise on the shelf. All of the gallons were sold within 2 days. One hundred more customers came to buy gallons of milk, but the store was already sold out. This is an example of which type of inventory scenario?

profit made per sale

The comapny's goal is to earn $5 profit for every sale that's made in its store. Which key performance indicator can be used to measure the results of this goal?

Phase 1 -Customer has a want/need

The customer's current televsion breaks the week before the Super Bowl. The customer is supposed to have a Super Bowl party and needs a new TV so the guests can watch the big game. Which phase of the customer life cycle does this example best represent?

units per transaction

The number of units in each transaction is called:

company culture

The unique way that employees interact with each other and their customers. Also, the personality of the company:

Point of Sale

What does POS stand for in retail?

supply equals demand

When planning for inventory, a company's goal is to have

supply that meets or equals demand

When planning for inventory, a company's goal is to have

Using the top ladder as a step

When working on a ladder, what's one thing you need to avoid in order to prevent falling?

product knowledge

When you have key information about a company's products and services and use it to help customers understand how these products and services will meet their needs, you have:

delivering products

Which of the following is not a part of the retailer's role in inventory management?

Number of sales per store location

Which of the following key performance indicators can be used to measure whether each store is meeting its sales goals?

retail employee

Who is responsible for making sure the safety exits aren't blocked and are free to be used in an emergency?

30 seconds

it's always important to greet the customer within:

Cause of shrinkage

product stolen from the store