Profit & Loss
This is the total amount of money earned from sales before subtracting expenses.
Revenue
When a salesperson suggests an upgraded or more expensive version of a product, this is called ____.
Upselling
A short and memorable phrase used to promote a business or product is called this.
A slogan or tagline.
The phrase "the customer is always right" encourages businesses to do this.
Provide good customer service.
The process of keeping track of money coming in and going out of a business.
Bookkeeping
When expenses are higher than revenue, a business experiences this.
A loss.
The technique of suggesting additional related products to a customer is known as this.
Cross-selling.
A company’s unique visual symbol or design used to identify its brand.
A logo.
When a customer has a problem, a good employee does this before responding.
Listen
A plan that outlines a business’s financial goals and spending limits.
A budget.
The formula for profit is revenue minus these.
Expenses
A friendly and positive first impression is important in sales because of this principle.
People buy from people they like.
The "4 Ps" of marketing stand for Product, Price, Place, and this.
A promotion.
Saying "thank you" and "have a nice day" is part of this important customer service skill.
Politeness or courtesy.
This term refers to the amount of a product available for sale.
Inventory
If a business sells an item for $10 but it costs $4 to make, this is the profit per item.
$6.00
Instead of just listing product features, good salespeople explain how the product does this for the customer.
Solve a problem or meet a need.
Social media, flyers, and word-of-mouth are all examples of this.
Advertising
A happy customer is more likely to do this, which helps a business grow.
Return or recommend the business to others.
A business that only sells products online is called this type of store.
An e-commerce store.
A business that consistently makes more money than it spends is considered to be this.
Profitable
This term describes customers who are unsure about buying and need extra convincing.
Hesitant customers.
Companies often offer discounts or free samples as a way to do this.
Attract new customers.
If a customer is angry, employees should stay this way to handle the situation professionally.
Remain calm and respectful.
Before opening a business, owners should conduct this to understand their potential customers.
Market research