What is Retail?
The first link in the Distribution Channel
Manufacturing
This type of buyer makes quick purchase decisions
Impulse buyer
A product's smell, taste, sound, feel, etc.
Features
When gathering information, this is the best type of question to ask
Open-ended
The term for selling additional items with a purchase
Cross-selling
This type of retail ownership is usually a single store
Independent
The first step in the customer loyalty life cycle
The customer has a want or need
The best way to assist a customer who needs to locate a product
Take them to the location
This type of listening means you are hearing and understanding what a customer is saying
Active Listening
The term for selling a more expensive item based on a customer's needs
Up-selling
Physical goods that are bought or sold
Products
The 2nd step in the Five-Stage Decision-Making Process
Search for Information
The advantage that makes a certain product a good choice, based on the features
Benefit
The best way to show that you understand a customer's needs
Restate or summarize their needs
An add-on service
Warranty, Service Plan, Credit, Delivery, Alterations
The majority of retailers are this
Independently owned
The type of buying cue that comes from a customer's own needs; hungry, headache, etc.
Internal Physical Cue
This type of mindset believes in continuous learning
Growth Mindset
A greeting such as "It's a beautiful day today!"
Ice-breaker
This type of program encourages customers to choose them over competitors (Kohls cash, apps, etc.)
Loyalty program
This type of retailing approach places emphasis on a seamless shopping experience
Omnichannel
The type of buying cue that comes from retail marketing; tv, advertisements, etc.
External Commercial Cue
One way to learn about a product
Online courses, customer feedback, product labels, Apps
The type of question that limits information, only getting a "yes" or "no"
Closed-ended
A question you should never ask a customer
"How much do you want to spend?"