Chapter 3 test Flashcards
1-Name something that is used to compare information.
Bar Graph
2-The number of actual sales transactions made
-Actual Sales
3- Composed of retailer’s most loyal customers
-Platinum Segmen
4-These customers represent the lowest segment and can actually cost the company money
-Lead Segment
5-Total number of items within each transaction
-Units per transaction
6-Shows hos data changes over a period of time
-Line graph
7- Customers receive special offers or rewards
-Loyalty program
8-20% of the customers make up this segment
-Good segment
9-Used by managers to gauge ow well the store and each department are operating
-Francial Report
10-Required on all purchases
-Sales Required
11-A customer recommends a store or sales person based on his or her experience
-Referral
12-Represents percentages or proportions where the entire portion represent 100% and each smaller portion represents a piece of the 100%.
-Precharts
13-The price the customer is willing to pay for the products or service.
-Price sensibility
14-These customers are extremely price conscious.
-Iron segments
15-Be able to figure a discount on a sales item.
-Price munching
16-Be able to read a pie chart.
-Unpriced Merchandise
17-These customers represent the lowest segment and can actually cost the company money.
- Platinum
- Gold
- Iron
- Lead
18-What items should client’s records include?
-Its necessary to keep records on your customer for better seem them
19-What rule states that a small number of customers account for the majority of your profits?
-20 rule
20-In retail sales, the price on items in the store are always the same prices as on the store’s website? True or False
-False
21-Word-of-mouth recommendations are the best means of advertising?
True or False
True
22-What three things are typically found in an ad?
- Regular priced merchandise.
- Sale merchandise.
- Clearance merchandise.
23-What does offering a “unique selling proposition” mean?
-An after the retailer makes a difference from others retailers who after the same or similar products or service. ex: A domino’s pizza make yours 30 min or it would be free
24-Name three ways retailers can tell customers about their sales and promotions.
a. coupons
b. news paper ads
c. flyers and circulars
25-What is the general rule in retail sales?
-The customer is always right
