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Unit 5

This document provides information on various topics related to selling fashion merchandise, including: - Defining personal selling and customer-oriented selling approaches. - Describing non-selling duties of salespeople like stockkeeping, receiving merchandise, and maintaining product information. - Explaining basic retail sales terms like cost of merchandise, and how to calculate markup, cost, retail price, and markup percentage. - Identifying reasons for marking down prices like buying errors, special sales, and reducing stock.

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45 views16 pages

Unit 5

This document provides information on various topics related to selling fashion merchandise, including: - Defining personal selling and customer-oriented selling approaches. - Describing non-selling duties of salespeople like stockkeeping, receiving merchandise, and maintaining product information. - Explaining basic retail sales terms like cost of merchandise, and how to calculate markup, cost, retail price, and markup percentage. - Identifying reasons for marking down prices like buying errors, special sales, and reducing stock.

Uploaded by

api-283744556
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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UNIT 5

SELLING FASHION
Lily !!!!!!!!!!!!!!!!!

Selling as a
marketing
function

Personal selling: A function of marketing that involves


personalized, two-way communication between the salesperson and
the customer in the process of exchanging merchandise for money
or credit.

Selling as a
marketing
function

Customer-oriented selling: An approach to selling that


involves meeting and exceeding customer expectations
while making customers feel important, identifying their
needs, and finding solutions to best fulfill those needs.
Stores using customer-oriented selling are applying the marketing
concept instead of using sales-oriented, high pressure selling.
Stores distinguish themselves from each other by the quality and
quantity of personal services they offer the customer.

Roles of
Salespeople

Sales clerk: An Order-taker who may stand behind the counter


to ring up a sale and who is usually employed by stores that sell
lower-priced merchandise.

Non-Selling
Duties and
Responsibilitie
s of the
Salesperson

Basic stockkeeping duties/tasks

Stockkeeping
Receiving merchandise
Preparing merchandise for sale

Maintaining product information

Preparing
merchandise
for sale

Sort and arrange merchandise by color, size, and/or


classification.

Ticket and price merchandise if necessary.

Transfer merchandise between store branches.

Set up and clean merchandise fixtures.

Maintaining
product
information

Product knowledge allows the


salesperson to tailor the sales message
to meet the specific needs of each
customer.
Types of information needed
Product use
Product care

Calculate Basic
Math

Convert fractions to percents.


Divide the numerator of the fraction
by the denominator.
Example: = 1 2 = .50 = 50%

Steps Necessary
to Open and
Close a Cash
Drawer

1. Verify the opening change fund to


determine that the amount of money
actually provided for the cash till at
the beginning of the day is equal to
the amount designated for the given
days activity.
Change fund: Coins and currency
designated for use in opening the
register for a given days activity.
Till: The cash drawer of a cash
register.

Retail Sales
Terms

Cost (Cost of merchandise sold): The


amount a retailer pays the supplier for
an item for resale.
Reflects wholesale price, vendor
discounts/allowances, and
transportation charges
Represents a major outlay of money
for the retailer

Basic Markup
Calculations

When cost and dollar markup are


known
Retail Price (RP) = Cost (C) +
Markup (MU)
Example:
Retail Price (RP)=$55.00 (C) + $45.00
(MU)
Retail Price (RP) = $100.00

Basic Markup
Calculations
(cont.)

When retail price and markup are


known
Cost (C) = Retail Price (RP)
Markup (MU)
Example:
Cost (C) = $100.00 (RP) - $45.00 (MU)
Cost (C) = $55.00

When retail price and cost are known


Markup (MU) = Retail Price (RP)
Cost (C)
Basic Markup
Calculations
(cont.)

Example:
Markup (MU) = $100.00 (RP) - $55.00
(C)
Markup (MU) = $45.00

Markup percent based on cost


Used by some small businesses
Markup % (MU%) = Markup (MU)
Cost (C)

Basic Markup
Calculations
(cont.)

Example:
Markup % (MU%) = [$210 (RP) - $120 (C)]
$120 (C)

Markup % (MU%) = $90 (MU) $120 (C)


Markup % (MU%) = .75 or 75%

Reasons for
Marking Down
Retail Price

Buying errors
Pricing errors
Special sales
Broken assortments
Reduction of goods in stock

Markdown
Percentage

Usually calculated for a specific period of time


Expressed as a percentage of net sales, which
cannot be calculated until the merchandise is
sold
Used in planning and forecasting
Markdown % (MD%) = Dollar Markdown
(DMD) Net Sales (NS)
Example:
Markdown % (MD%) = $10,000 (DMD)
$550,000 (NS)
Markdown % = .01818 or 1.8%

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