Customer Service Basics
What term describes something that cannot be physically touched, such as customer support? And give an example.
Intangible
What type of business sells products directly to consumers?
Retailer
What is the process of promoting and selling products or services?
Marketing
What is the term for the total number of products a business has in stock?
Total Inventory
What type of business sells products to customers in-person, online, or by phone?
Retailer
What term describes something that can be physically touched, like a product on a shelf? And give an example.
Tangible
What is the term for a small business that operates independently and is not part of a larger company?
Independent
Businesses that sell similar products and compete directly for customers are called what?
Direct Competitors
What term describes the products currently available in a store or warehouse?
On-Hand Inventory
A place where goods are stored before being shipped to stores is called what?
Distribution Center
What type of customer service experience leaves the customer satisfied and likely to return?
Quality Customer Service
What type of business has multiple owners but is legally recognized as a single entity?
Corporation
Businesses that offer different products but satisfy the same customer need are called what?
Indirect Competitors
What is the process of tracking and managing the goods a company has available for sale?
Inventory
In a franchise, what is the company that grants the right to operate under its name?
Franchisor
What is the term for the process of helping customers and ensuring their satisfaction?
Customer Service
A business owned and operated by a private individual or group rather than the public is called what?
Private Company
What type of competitor offers an alternative when a product is no longer available?
Replacement Competitor
What type of company sells products in large quantities to retailers?
Wholesaler
A seamless shopping experience across multiple channels is called what?
Omnichannel
is a customer who consistently chooses a particular business, brand, or product over competitors due to positive experiences, trust, and satisfaction. They often make repeat purchases and may advocate for the brand through word-of-mouth or referrals.
Loyal Customer
What is a type of business where one company grants rights to another to operate under its brand?
Franchise
The system in which all aspects of retail, from product creation to customer purchase, work together is called what?
Retail Ecosystem
What company creates products before they are sold to retailers or wholesalers?
Manufacturer
What is the method of selling products through multiple channels, such as online and in-store?
Multichannel