chapter 4 quiz Flashcards
name something that is used to compare information.
bar graph
the total number of actual sales transactions made
total number of transaction
composed of retailers most loyal customers
platinum segment
these customers represent the lowest segment and can actually cost the company money
lead segment
total number of items within each transaction
units per transaction
shows how data changes over a period of time
line graph
customers receive special offers or rewards
loyalty programs
20% of the customers make up this segment
gold segment
used by managers to gauge how well the store and each department are operating
financial reports
required on all purchases
sale tax
a customer recommends a store or sales person based on his or her experience
referrals
represent percentages or proportions where the entire portion represents 100% and each smaller portion represents a piece of the 100%
pie charts
the price the customer is willing to pay for the products or service
price sensitivity
these customers are extremely conscious
iron segment
be able to figure a discount on a sales item
find the original price, get the discount percentage, calculate the savings, subtract the saving from the original price to get the sale price $160-15%=136
be able to read a pie chart
represents percentages or proportions where the entire circle/pie represents 100% and size of the slices give a sense of proportion to each piece
in the customer pyramid, customers in the lead segment get their name from
by being like a weight and costing the company money or lead
what items should clients records include
name, address, telephone number, and other occupations/hobbies
what rule states that a small number of customers account for the majority of your profits
80-20 rule
in retail sale the price on items in the store are always the same prices as on the stores website
false
word of mouth recommendations are the best mean of advertising
true
What three things are typically found in an ad?
regular priced merchandise, sale merchandise, and clearance merchandise
What does offering a “unique selling proposition” mean?
an offer the retailer makes to differentiates them from other retailers who offer the same similar products or services
Name three ways retailers can tell customers about their sales and promotions.
coupons, newspaper ads, and flyers
