Customer Service and Sales Glossary PDF

CUSTOMER SERVICE AND SALES Teamwork: The combined actions of a group of people, especially when effective and efficient, to achieve a common goal. Temporary employment: Employment that is meant to last for a designated Transaction: An instance of buying or selling something-in buying or returni...

CUSTOMER SERVICE AND SALES Teamwork: The combined actions of a group of people, especially when effective and efficient, to achieve a common goal. Temporary employment: Employment that is meant to last for a designated Transaction: An instance of buying or selling something-in buying or returning an item. period of time. retail, this generally refers to a customer Universal Product Code (UPC): A barcode that contains specific product information a description, price, tax status and relevant discounts or promotions. including Upselling: The act of highlighting or revealing an extra value of a product or directing the customer's attention to other products that may better satisfy their need, even when they may be more expensive. Value: The subjective worth that an item or service has for the customer compared to other alternatives. Visual merchandising: The branch of retail in charge of promoting through engaging visual displays. Warranty: A type of add-on service in which the manufacturer the item for a specific period of time, if needed. specific products and services promises to repair or replace Wholesaler: An entity that buys large quantities of these products directly from the manufacturer and then sells smaller amounts of the products to different retailers. Worth: The satisfaction that the customer feels after obtaining/experiencing the purchased product or service. ©2019 NRF FOUNDATION. ALL RIGHTS RESERVED. the benefits from _A_P_P_E_N_D_I_X_B_-_G_Lo_s_s_A_R_Y __________________________________ _ Retail: The process of selling products and/or services to customers to earn a profit. Retail ecosystem: An interconnected system of approaches for providing customers with the merchandise and services they want - when, where and how they want to experience and purchase it. A retailer's reimagined ecosystem may offer a network of physical store formats, direct or phone sales options, ecommerce site(s), app(s), targeted marketing, experiences, services, amenities and interactions. Retailer: A business or person that sells products and/or services to customers. Each retailer selects merchandise or services based on the needs of a specific store, region or community. Revolving credit: A financing model in which the retailer offers a credit card to costumers-usually connected to loyalty programs-so they can make purchases and pay the card balance over time. Self-checkouts: Checkout lanes that allow customers to scan, pack and pay for their merchandise without the assistance of a store cashier, although an employee is always close by in case the customer needs help. Self-service kiosks/tablet kiosks: Interactive computers with customized software that provides access to information and applications like ordering food and drink items, locating merchandise in a store, accessing product information, finding gift registries or recipes, requesting employee assistance, buying merchandise online and more. Services: Intangible (can't be physically owned by the customer) transactions, hair care services, personal training, ride sharing and video streaming. such as lawn mowing, Service benefits: The advantages that make a certain service a good choice for the consumer. Service recovery: The action a retailer provides to address a service failure. It includes activities to turn the negative experience into a positive one. It can occur during the same visit or at a time in the future. Short-change artist: Dishonest shoppers who try to scheme salespeople by arguing that they paid with a bigger bill to get more change than they are owed. SMART goal system: A process used to help people develop quality goals. The acronym SMART stands for: specific (make the outcome or result clear), measurable (include quantitative and/or qualitative measures that accurately determine success), achievable (ensure the measure, result and timeframe are reasonable), results-oriented (identify a concise and valuable accomplishment, outcome or end product) and time-based (establish a definite date and/or time for achieving the result). Social media influencer: A social media user who has established credibility in a specific industry or content area, has access to a huge audience through their follower network and can persuade others to act based on their recommendations. STAR method: A method that is used to organize and present job tasks as accomplishments applying for jobs. The acronym stands for situation, task, action, result. when Store credit: This term refers to money that can only be used at that particular store or retailer. Customers usually get store credit when they return an item and do not choose, or are not eligible for, a cash refund. Store credit comes in the form of a physical card or an account balance ·and can be used by the customer to purchase items at that store or retailer only. ©2019 NRF FOUNDATION. ALL RIGHTS RESERVED. CUSTOMER Part-time work: Work that requires fewer hours than a full-time It may be eligible for some benefits. SERVICE AND position and hour quantity SALES may vary. Personal communication style: A communication style refers to the way a person interacts with others. Someone who has a personal communication style typically values relationships, connecting with people and emotional language. Point-of-sale (POS): Systems to track items sold, process sales, hold cash, and generate receipts. Private company: Large companies with many retail locations, centralized business operations and their stock is not traded on the stock market. Privately-owned retailers include large chains such as Albertsons, Ashley Stewart and Belk. Private-label products (also called store brands or in-house brands): Products developed by national or international manufacturers and then sold under another brand name that is available , only at that retailer's stores. Products (or merchandise): Physical goods that are bought and sold, such as food, clothes and household items. Product brands: Brands that are associated with specific merchandise and may be offered at multiple retailers. Product features: A product's characteristics. They can be touched, tasted, seen, smelled and/or heard and include things like color, size, flavor, scent, sound and texture. Product benefits: The advantages that make a certain product a good choice for the consumer. ,Product and/or service knowledge: Information learned and used to help customers understand how a product or service will meet their needs. It includes knowing the features, benefits, functions, uses and required support for products and/or services. Product return: The process of the customer taking previously purchased merchandise back to the retailer to receive a refund in the original form of payment, an exchange for another item or a store credit. QR (quick response) codes: Barcodes that contain product or website information. a customer scans the QR code with a smartphone to access the data. Quality customer service: The delivery of a positive, memorable what the customer expected. In stores, experience that is more than Recreational shopper: A customer who views shopping as a fun occasion, rather than looking for specific merchandise or services. This customer's mindset focuses on adventure and leisure. Referral: The term used when a person recommends experiences. Respect for diversity: The disposition customs, and individual differences. ©2019 NRF FOUNDATION. ALL RIGHTS RESERVED. a store or salesperson based on their quality to be respectful of differing opinions, lifestyles, background, APPENDIX B - GLOSSARY Layaway: A type of add-on service that allows customers to make an initial deposit on merchandise and then pay for the rest over time. Loss prevention (sometimes referred to as asset protection): The branch of retail in charge of implementing action plans to reduce waste, breakage or theft and increase safety. Loyal customer: A shopper who repeatedly chooses to shop at the same retailer over others, usually because of positive customer experiences with the retailer and their products and/or services. Loyalty: The likelihood that a customer will shop at a particular retailer again and again. Loyalty programs: Marketing programs that provide incentives to repeat customers who are loyal company brand shoppers. They generally use customer personal information, purchase history and preferences to refine the product and service assortment, target promotions to consumer groups or individual customers and reward loyal shoppers. Manufacturer: Any entity that produces finished products. Marketing: The branch of retail in charge of developing strategies to promote the company brand and specific products and services to increase customer satisfaction. Mindset: Customers' attitudes and expectations experiences. about retailers, customer service and their shopping Mobile apps: Software applications designed to run on small wireless devices such as smartphones, tablets or smartwatches. Retailer apps enable customers to purchase merchandise, view promotions and e-coupons, track loyalty or reward program activity and experience other retailer content. Motivation: The reason someone behaves a certain way, which influences the way consumers make purchase decisions. Motivation can be swayed by both external and internal signals. Multichannel retailing: A retail model that offers customers the opportunity to interact with the multiple options in their ecosystem. These can or cannot be systemically connected to each other. Near Field Communication (NFC): Contactless payments between two devices, like a terminal and a smartphone. The connection is made when the two devices are about 1.6 inches (4 cm) from each other. Network: An interconnected group of people. Nonverbal communication: Interaction between individuals that focuses on visual, auditory, tactile and kinesthetic (physical) methods of communication. Omnichannel retailing: A retail model that integrates multiple channels of a retail ecosystem to create a seamless consumer experience through the use of technology. Open-ended questions: Questions that cannot be answered with yes or no, and that are used to get customers to provide details about what they want or need. Open-ended questions begin with the words who, what, when, where, why and how. ©2019 NRF FOUNDATION. ALL RIGHTS RESERVED. - .,,________ CUSTOMER _____ SERVICE _ AND SALES Fixed mindset: The belief that one's skills and knowledge are fixed traits that cannot be developed. Follower: A shopper who wants to find out what's trendy before making a purchase. Followers have a more cautious mindset and are reluctant to be the first to try new products. They often look to established brands that they have previously purchased and trust for guidance before making a buying decision. Franchise: A license granted to another entity to retail a company's products or services in a particular area. Full-time work: Work that requires a specific number of hours per week and is eligible for benefits. Functional communication style: A communication style refers to the way a person interacts with others. Someone who has a functional communication style typically wants process, detail, timelines and well-thought-out plans. Growth mindset: The belief that one's abilities can continuously and determination. improve through learning, focus Human resources: The branch of retail that oversees various aspects of employment, including recruitment, training, ensuring compliance with labor laws, processing employee benefits and payroll and performance management, along with the regular maintenance of personnel files and databases. Impulse buyer: A customer who makes quick purchase decisions, often for inexpensive items that do not have a high importance to the buyer. Independent retailer: A retail business owned by an individual. Typically, a single store or a small, regional chain. Information Technology (IT): The branch of retail in charge of collecting, storing, and processing data from Point-of-Sale, inventory management, customer service management, communication and more. Innovation/trend buyer: A customer who is motivated to be one of the first to purchase the newest technology, fashion or car, eat at the just-opened restaurant, or see the latest movie. They have an early adopter mindset and want to be recognized as a trendsetter by others. Installment financing: A financing model in which the retailer loans a customer money-which comes from an internal lending department or a third-party bank-to buy the product as a part of the sale. Borrowers typically pay the retailer in monthly installments. Intuitive communication style: A communication style refers to the way a person interacts with others. Someone who has an intuitive communication style typically wants big-picture ideas to determine what is important and will lose interest in the conversation if there is too much structure or a deep dive into product features. Job description: A written statement about a specific job, which may include details such as the company name, the job title, the purpose of the position, the job's duties and responsibilities, the scope of the role, the qualifications and requirements for the position, the title of the role's supervisor, and the job's working conditions. ©2019 NRF FOUNDATION. ALL RIGHTS RESERVED. _A_P_P_E_N_D_I_X_B_-_G_L_o_s_s_A_R_Y ______________________________ _ provide customers with a way to browse and purchase products and services that the company offers along with information about store locations and hours, career opportunities and general information about the company. Comparison shopper: A shopper who spends a lot of time checking out products and prices through online sites, visiting different stores, comparing retailer ads and/or getting the opinions of others either personally or through social media. Corporation: A business that has shareholders through publicly traded stock, and usually has a centralized decision-making for its multiple store locations. Corporate-owned retailers include large chains such as Walmart, Kroger and Target. Credit: In finance, this refers to an agreement between a consumer and a financial institution that allows the consumer to obtain products and services without payment, but with the promise of paying back within a certain timeframe. The retail term "store credit" refers to money that can only be used at that particular store or retailer. Customers usually get store credit when they return an item and do not choose, or are not eligible for, a cash refund. Store credit comes in the form of a physical card or an account balance and can be used by the customer to purchase items at that store or retailer only. Cross-selling: The practice of recommending additional products that complement the customer's purchase. They can be operational necessities, like batteries, or items that may contribute to a better or more complete experience for the customer. Customer service: The help, information and recommendations to people who explore or buy its products and/or services. that company representatives give Customers (or consumers): People who purchase goods or services from a business. Data privacy: The processes involved to ensure that customers' personal data that they have shared with a retailer or its employees is kept private, and not shared with others or with public. Demographic data: Quantifiable information used to help retailers determine customer behavior (e.g., household size, gender, age, income, education, occupation, place of residence). Digital signage: Technology used to electronically display digital images, video, web pages and text. Retailers use them to attract in-store customers to merchandise, provide price and product information and share brand content and messaging with customers to enhance their shopping experience. Discrimination: The unfair treatment of someone less favorably than others based on race, color, religion, gender, gender identity, sexual orientation, pregnancy, national origin, age, disability, genetic information and retaliation. Distribution channel: A path through which a product travels from its creation to when it reaches the customer. Exchange: The action of swapping one purchased item for another one. Finance/Accounting: The branch of retail in charge of managing budget generation, administration, reconciliation and reporting for revenue, expenses and profit. ©2019 NRF FOUNDATION. ALL RIGHTS RESERVED. CUSTOMER SERVICE AND SALES APPENDIXB Glossary Active listening: The practice of hearing and understanding and any messages suggested behind the words. what a speaker is saying out loud Add-on services: Available services for specific product purchases that customers can opt for (e.g., payment options, product modifications, or other ways that customers can protect their purchases). Alterations: Modifications to products that help them best meet the needs of customers (e.g., the tailoring of clothing items or installing additional memory in a laptop). Analytical communication style: A communication style refers to the way a person interacts with others. Someone who has an analytical communication style typically wants the important data, facts and logic. At-will employment: Employment subject to termination by an employer at any time for any reason, except for an illegal reason such as discrimination. An employee is also free to leave a job at any time, for any reason. Body language cues: Conscious or unconscious gestures and movements that express intentions. These are a key form of nonverbal communication. Brand promise: An extension of the company brand that reflects the benefit of doing business with them-for example, providing quality customer service. Breakaway statements: Phrases used to smooth the transition between one customer and the next one (e.g., "Would it be OK if I grab a few items for another customer?"). Buying: The branch of retail in charge of selecting and purchasing merchandise. Clientele: The collective group of customers that are served by a specific retailer, when considered in total. Closed-ended questions: Questions that aim to get you a short or yes/no answer. These are useful to limit the scope of a conversation, to confirm a specific response, or to close the sale. Closedended questions often begin with words such as: will, can, may, are and do. Company brand: The overall impression gathered from information that is seen, heard and experienced by customers who encounter a business, its products and its services. Company culture: The unique way that an organization's employees interact with each other and with customers. The culture defines the personality of a company, and typically includes a variety of elements, such as work environment, company mission, value, ethics, expectations and goals. A company's culture can provide additional expectations for employees to deliver on the company's brand promises. Company website: A website that represents a retailer on the Internet. Retailer websites typically ©2019 NRF FOUNDATION. ALL RIGHTS RESERVED.