Merchandising
Showing products in the coolest, most eye-catching way.
Visual Merchandising
Product, Price, Place, Promotion
4 Ps of Marketing (Marketing Mix)
Total money from sales.
Revenue
Applying a percentage to the cost of an item to determine the price.
Markup Pricing
The difference between book inventory and physical inventory.
Shrink
Walking around the store in order to spot things that need to be straightened or cleaned.
Store Walk-Through
Those most likely to buy a product or service.
Target Customer
Cost for a retailer to buy or make a product.
Cost of Goods Sold (COGS)
Abbreviated MSRP
Manufacturer's Suggested Retail Price
Customers stealing merchandise.
Shoplifting (External Theft)
A schematic that shows exactly where each product should go on the shelves.
Planogram (POG)
The action of promoting the sale of products and services.
Marketing
Costs of running a business.
Operating Expenses
Odd pricing strategy.
Phycological Pricing
Employees who steel from a business.
Employee Theft (Internal Theft)
A display at the very end of a store aisle that shows products in a way that is super easy to see and grab.
Endcap
The most influential form or advertising.
Television
Revenue - COGS
Gross Profit
Selling a group of items for a single price.
Multiple Pricing
The best way to prevent shoplifting.
Quality Customer Service
Placing the oldest items in fron.
FIFO (First In, First Out)
Free attention a business gets in the media or from the public.
Publicity
Gross Profit - Operating Expenses
Net Profit
When a company sets a very high price for a new product and lowers the price at a later date.
Price Skimming
Innocent errors, such as incorrect inventory counts.
Operational Errors (Administrative Errors)