The term sales is commonly known among those who are learning the business and are completing the high education in this field. If we study further what the term sales means, we wouldn’t be able to omit such terms as direct sales, transaction sales, consultative sales, complex sales. All these terms are subtopics to the main theme and play the role of a great part of this.
Students, who decided to obtain their degree in marketing, will meet the long list of terms that are not easy to memorize. For those, who are struggling with the problem of memorizing new words, sales flashcards are created. Lots of them serve as information cards and give a complete study guide in the discipline of marketing. Learners can find various studying materials such as tables and schemes that would help to understand better some complicated themes among which the theme of retail could be mentioned.
Having flashcards is a good idea for the instructors who are searching for the additional teaching materials. Using them makes the process of explaining easier and smoother. For instance, if you’re about consignment, having the set of flashcards with different types of consignment will give students the opportunity to accept the information faster and more organized. The same thing is about studying different types of marketing. The process of learning will be more interesting if the teacher presents flashcards, which shows the example of each type, for instance, telemarketing or internet marketing.
Sales flashcards can provide students with an exam help or any test help, serving as a basis for their answers. They’re also helpful while completing any type of class assignment, giving the visual explanation of what undergraduates are supposed to do.
on the supply side of the business, aggregate planning is done by: product families long-range planning activities are: 1. designing the logistics activities that deliver products to the customer. 2. designing the manufacturing and service processes that produce the products of the firm. subcontracting production is similar to a ______ Read more…
Sales and operations planning (S&OP) A process for coordinating supply and demand. Aggregate refers to? Sales and operations planning for product lines or families. For services, capacity is often limited by? Space Ex: hotel room, Seats on an airplane. What are the two objectives to sales and operations planning? 1. Read more…
Review of the Sales Cycle Prospecting Preapproach Approach Needs Discovery Presentation Handling Objections Closing the Sale Customer Service After the Sale Needs Discovery (Identifying Needs) Selecting possible solution(s) Asking Questions Listening Probing Need discovery is more important than any other step in the sales cycle Plan your questions in sequence Read more…
Contracts for the sale or lease of goods is governed by . . . Statutory law and the UCC article 2 of UCC sets forth requirements for sales contracts or the sales of goods Article 2A covers issues for lease contracts Sale and Goods To constitute as a sale it Read more…
Customer Centric placing the customer first in everything inside and outside the firm. Customer Orientation is done by having a customer centric firm. Involves three things (1) Understanding your customer requirements (2) Getting knowledge from the marketplace and disseminating to employees within the firm (3) Align system capabilities internally so Read more…
A process to develop tactical plans by integrating marketing plans for new and existing products with the management of the supply chain; brings together all the plans for the business into one set of integrated plans. Sales & Operations Planning Sales and operations planning is a _____________ plan, residing between Read more…
Significance of UCC clarifies sales law and makes this area of law more predictable to businesses that engage in transactions in more than one state Article 2 focuses on contracts for the sale of goods Article 2(A) focuses on contracts for the lease of goods 3 categories that can be Read more…
professional selling direct to consumer -business to business -trade selling (selling to retailers) or can be called business to business selling =this is “where the money is at” Transactional selling -Retail -Inside sales (order taking) (this is where you get your “feet wet” or trial period) -Some non-human Sales Profession Read more…
closing the sale obtaining an agreement to buy from the customer buying signals things customers do or say to indicate a readiness to buy trial close an initial effort to close a sale which close encourages a customer to make a decision between two items standing-room-only close used when product Read more…
Contract of Sales – Two Main Effects 1. Transfer of Ownership of the thing sold from seller to buyer 2. Transfer of Risk of loss of the thing from seller to buyer Sellers Obligations (3) i. *Delivery* ii. *Warranty Against Eviction.* iii. *Warranty Against Redhibitory Defects.* Buyer’s Obligation (2) i. Read more…
Auction Buyer bids on item Barter exchange of goods. Bulk Transfer All or a major part of a business is sold. Cash and Carry Sales Pay cash and take immediate delivery COD Sales Collect on delivery Delivery Buyer possesses or has control of the item Existing Goods Goods that physically Read more…
Goods Movable personal property. Movable Personal Property All physical items except real estate. Property Subject to Sale A sales contract that does not meet the requirements of the UCC is unenforceable, if both parties-the buyer and the seller-choose to abide by its terms even if they are not legally bound, Read more…
EAT Encourage Accountable (Hold) Train Begin with… The end in mind People hate being…. but love… sold, buying Business is all about successfully building and maintaining: Relationships Who is the most important person in your life? Self The 3 keys to personal selling are the right ____, the right ______, Read more…
Sales The sale of goods in which the business trades Sales returns When goods previously sold on credit are returned to the business by it’s customers. Sales ledger A subsidiary ledger to general ledger, and contains the accounts of the trade receivables Financial documents Source documents for the accounting records Read more…
Steps in Sales Process 1. Prospecting 2. Preapproach 3. Approach 4. Needs Discovery 5. Presentation 6. Handling Objections 7. Close the Sale 8. Post-Sale Customer Service Approach First initial contact with prospect (Potential Customer) **Not always face-face contact Approach Objectives 1. Make a good first impression 2. Secure Attention 3. Read more…
Which function or department records a sale in the sales journal? A. Warehouse B. Sales department C. Billing department D. Inventory control Billing department Which functions should be segregated? A. Picking goods from the warehouse shelves and updating the inventory subsidiary ledger B. Authorized credit and determining reorder quantities C. Read more…
Companies accept credit cards for several reasons -To increase sales When customers purchase on open account, they may be offered a sales discount to encourage early payment 2/10, n/30 2% discount 10 days in discount period n (net total sales less returns) 30 is the maximum credit period of 30 Read more…
A simple definition of a “good” is movable, tangible property A good not yet manufactured is called A future good A contract to sell involves future transaction In performance of a contract, good faith: 1. Means honesty in fact 2. if lacking, breaches the contract A merchant: 1. Deals in Read more…
Goods Any moveable physical object. Merchant Someone who routinely deals in the particular goods involved. UCC Statute of Frauds The UCC requires a writing for any sales of goods priced $500 or more. Additional Terms Raise issues not covered in the offer. Different Terms Contradict those in the offer. Gap-Fillers Read more…
When is the Installment Method of Revenue Recognition used? The installment method of revenue recognition is used when there is no reasonable basis for estimating the degree of collectivility. Under the installment method, when is revenue recognized? Under installment accounting, revenue is not recognized at the time a sale is Read more…