Odisha CHSE +2 Vocational Counter Sales Executive flashcards

32 cards. Read the term and the definition here. The deck at the top of this page is optional.

Retail mix

The combination of product, price, place, promotion, presentation and personnel that a retailer uses to serve its target customers and compete in its chosen market.

GMROI

Gross margin return on inventory, calculated as gross margin divided by average inventory at cost; it shows how much gross profit each rupee of stock investment generates.

FAB technique

Feature, advantage, benefit: state a factual product attribute, explain what it does, then link it to the specific gain the customer will experience.

Trial close

A low-risk question that tests whether the customer is ready to buy, such as asking which of two models they prefer, before making the final closing request.

Service gap

The difference between what a customer expected from service and what they actually perceived receiving; over-promising and inconsistent delivery widen this gap.

Net Promoter Score

A loyalty metric found by subtracting the percentage of detractors from the percentage of promoters, based on the likelihood-to-recommend question.

Augmented product

The non-physical additions around the core product, such as warranty, delivery, installation, after-sales service and credit terms, which help differentiate competing offers.

Planogram

A diagram that specifies the exact position, number of facings and shelf space allocated to each product in a fixture, used to keep displays consistent across stores.

Golden zone

The shelf area roughly between waist and eye height, where products are most visible and easiest to reach, so high-margin items are placed there.

Till variance

The difference between actual cash counted at the end of a shift and the expected closing cash; any variance must be investigated and recorded.

Z-report

The end-of-day POS report that summarises sales, returns, discounts, taxes and tender-wise collection, and closes the day's batch for reconciliation.

Economic order quantity

The order size that minimises total ordering and holding cost, calculated as the square root of twice annual demand times ordering cost, divided by holding cost per unit.

Shrinkage

The loss of stock found when physical stock is compared with book stock; causes include theft, damage, expiry, supplier shortfall and billing errors.

Active listening

A communication technique in which the listener concentrates fully, paraphrases the speaker's meaning, asks clarifying questions and summarises before responding.

Grapevine

The informal communication network within an organisation; it spreads quickly but is often incomplete or inaccurate and should be verified against formal channels.

Tax invoice

A document listing seller GSTIN, invoice number and date, buyer details, HSN or SAC code, taxable value, GST rate and amount, and total payable.

Input tax credit

The GST already paid on eligible business purchases, which can be set off against the GST payable on outward supplies, subject to valid documents and conditions.

PASS technique

The fire extinguisher procedure: pull the pin, aim the nozzle at the base of the fire, squeeze the handle, and sweep from side to side.

GRN

A goods-received note recording the quantity, condition and discrepancies of an incoming consignment; it supports stock records, supplier payment and dispute resolution.

Cycle counting

A stock control method that counts a small group of items frequently on a rotating schedule, instead of one full annual physical stocktake.

Barcode check digit

The final digit of a UPC or EAN barcode, calculated from the preceding digits to detect scanning or key-entry errors; it does not encode the selling price.

Phishing

A fraudulent message that imitates a trusted sender to trick the recipient into revealing passwords, OTPs or card details, or into opening a malicious attachment.

Credit note

A document issued by a seller to reduce a previously invoiced amount, typically for a sales return, short supply or price revision, referencing the original invoice.

Bank reconciliation

A statement comparing the cash book balance with the bank statement balance, adjusting for cheques not yet presented, deposits not credited, charges and interest.

Conversion rate

The number of completed transactions divided by the number of customers who entered the store, expressed as a percentage; it measures selling effectiveness.

Upselling

Persuading a customer to buy a higher-specification or higher-priced version of the product they are considering, ideally because it better meets a stated need.

Decompression zone

The first few steps inside a store entrance where customers slow down and adjust; it is a poor place for displays because shoppers rarely notice them there.

End-cap

The display fixture at the end of a gondola aisle, facing the main walkway; it is prime selling space used for promotions and featured products.

Split payment

A single transaction settled using two or more tender types, such as part cash and part card, each recorded separately on the bill and settlement report.

Price override

A manual change to the system price during billing; it requires authorisation and a reason code, and frequent overrides are a recognised fraud indicator.

Safety stock

Extra inventory held above expected demand to absorb variations in customer demand and supplier lead time, protecting against stock-outs.

Three-way match

A control that compares the purchase order, goods-received note and supplier invoice for quantity and price before payment is approved.