What term describes the method by which customers acquire products and services, regardless of the format?

Prepare for the NRF Business of Retail Certification Exam. Study with interactive quizzes, flashcards, and detailed explanations. Boost your confidence and get ready to succeed!

Retailing refers to the process by which customers acquire products and services directly for personal consumption. It encompasses all activities related to the sale of goods and services to final consumers. This can occur through various channels, including physical stores, online platforms, mobile apps, and more, highlighting its inclusive nature across different formats.

In contrast, wholesaling involves selling products in bulk to retailers or other businesses rather than directly to consumers. Direct marketing focuses specifically on reaching consumers without intermediaries, often through targeted advertising methods. Franchising is a business model where a franchisor allows a franchisee to operate a business using their brand and system, but it doesn't directly describe the acquisition of products or services by customers. Thus, retailing is the most comprehensive term that reflects the various methods of customer acquisition in the marketplace.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy