chapter 3 test Flashcards
something used to compare information
bar graphs
the number of sale transactions made
total number of transactions
most loyal customer
platinum customer
lowest segment customer (can cost the comany money)
lead segmant
total number of items within each transaction
units per transaction
shows how data changes over time
line graphs
customers recive special offers and rewards
loyalty program
20% of customers
gold segment
used by mangers to gauge how well the store and each department are operating
financial reports
required on all purchaces
sales tax
a customers recommends a store or sales person based on his or her experience
refferal
represents percentages or portions where the entire portion represents 100%
pie chart
these customers are price sensitive
iorn segment
be able to read a pie chart
represents percentages or promotions
in the pyramid, customers in the lead segment get thier names from
the retailers
what items should clients records inculde
name, adress, tetphone number,occupation
what rule states that small number customers acount for the majority of profits
80-20 rule
in retail sales the price of an item in the store are always the same prices as on the stores website (true or false)
false
word-to-mouth recommendations are the best for advertising (true or false)
true
what are found in an ad
- regular price merchandice
- sales merchandice
- clearance merchandice
what dose “unique selling propositions” mean
an offer a retailer makes you to be different
three ways a retailer can tell a customer about sales and promotions
coupons
newspaper ads
special events
what is a gereral rule in retail sales
the customer is always right
