Podcast
Questions and Answers
What should you do if you find ice-cream tubs with a sell-by date of two more days?
What should you do if you find ice-cream tubs with a sell-by date of two more days?
What should the associate do if a shopper leaves behind a cart full of merchandise including perishable items?
What should the associate do if a shopper leaves behind a cart full of merchandise including perishable items?
What should a server do about an expired coupon presented by a customer?
What should a server do about an expired coupon presented by a customer?
What is the best action for a sales associate to take to sell 50 yellow pens for $1.00 each?
What is the best action for a sales associate to take to sell 50 yellow pens for $1.00 each?
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What should the sales associate do when the store alarm goes off as a customer is leaving?
What should the sales associate do when the store alarm goes off as a customer is leaving?
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Which of the following is not a cost associated with retailing?
Which of the following is not a cost associated with retailing?
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____________ is a drawing or schematic diagram created to visually represent the store and the way the merchandise should be displayed on the sales floor.
____________ is a drawing or schematic diagram created to visually represent the store and the way the merchandise should be displayed on the sales floor.
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What should you NOT do if you see someone shoplifting?
What should you NOT do if you see someone shoplifting?
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Which pricing strategy involves doubling the cost of an item to determine the retail price?
Which pricing strategy involves doubling the cost of an item to determine the retail price?
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On a snowy day, what should the associate do to meet customer needs at the store entrance?
On a snowy day, what should the associate do to meet customer needs at the store entrance?
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Dan created a ___________ to show what products he would sell, the price of those products, the place or location of his physical store and how he would promote his business.
Dan created a ___________ to show what products he would sell, the price of those products, the place or location of his physical store and how he would promote his business.
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How should the store make room for new holiday items after Halloween?
How should the store make room for new holiday items after Halloween?
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What should a sales associate do when being held at gunpoint by a robber?
What should a sales associate do when being held at gunpoint by a robber?
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What is Sarah's gross profit if she sells 18 cakes for $18.00 each and the cost of each cake is $5.00?
What is Sarah's gross profit if she sells 18 cakes for $18.00 each and the cost of each cake is $5.00?
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Who is typically first in a distribution channel?
Who is typically first in a distribution channel?
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______________ describes using the manufacturer's suggested price as a pricing strategy used to prevent competitive pricing between retailers.
______________ describes using the manufacturer's suggested price as a pricing strategy used to prevent competitive pricing between retailers.
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What should a sales associate do when asked to restock a shelf where most products are sold out?
What should a sales associate do when asked to restock a shelf where most products are sold out?
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All retailers strive for supply to be _______ to demand.
All retailers strive for supply to be _______ to demand.
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Which factor is not important for retail employees regarding their responsibilities?
Which factor is not important for retail employees regarding their responsibilities?
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Study Notes
Retail Operations and Customer Interaction
- When encountering food items close to their sell-by date, move them forward and notify management for potential removal to prevent waste.
- If a shopper leaves behind a cart of merchandise, return perishable items to the shelves promptly to maintain product quality.
- Expired coupons should be honored as a gesture of good customer service, enhancing customer satisfaction.
- To promote slow-selling items like yellow pens, proactively offer them to customers at the point of sale.
Loss Prevention and Security
- If an alarm sounds upon a customer's exit, verify their purchase and deactivate any security tags to prevent theft misunderstandings.
- Do not confront suspected shoplifters directly as it poses safety risks; instead, report suspicious activity to management.
Pricing Strategies and Business Planning
- Keystone pricing involves doubling the cost of an item to set its retail price, simplifying pricing strategies for retailers.
- A marketing plan encompasses product offerings, pricing, location, and promotional strategies for a new business.
Seasonal Adjustments and Inventory Management
- Transitioning inventory after holidays requires marking down unsold seasonal items to make space for new stock.
- Adapt displays according to current customer needs, such as showcasing winter clothing as the weather changes.
Emergency Protocols and Customer Safety
- In crisis situations like armed robberies, remain calm and comply with the distressing individual's demands for personal safety.
- Maintaining balance in supply and demand is essential for retail operations to optimize inventory levels.
- Employee safety is vital; abandoning the store during emergencies can jeopardize safety protocols and other customers.
Financial Overview
- Gross profit calculation example: Selling 18 cakes at $18.00 each with a cost of $5.00 per cake results in a gross profit of $234.
- Understanding the distribution channel typically starts with the manufacturer, establishing the flow of goods to consumers.
Important Retail Responsibilities
- Retail associates must prioritize the safety of themselves, co-workers, and customers, particularly in emergencies while remaining vigilant against potential hazards in the store environment.
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