Karnataka SSLC NSQF Retail (KSEAB) flashcards

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

Retail definition

Sale of goods or services directly to the final consumer for personal or family use, not for resale. The retailer is the last link between producer and consumer.

Distribution channel

The path a product follows from manufacturer to consumer, typically manufacturer, wholesaler, retailer and consumer. Each stage adds cost and provides time, place or possession utility.

Organised vs unorganised retail

Organised retail is licensed, taxed and professionally managed with fixed outlets. Unorganised retail covers kirana shops, hawkers and weekly haats with little formal record-keeping.

Retail mix

The set of controllable elements a retailer combines to serve customers: merchandise assortment, price, location, promotion, store presentation, personnel and customer service.

Hypermarket format

A very large self-service store, usually on a city's edge, selling both groceries and general merchandise at low prices with minimal staff assistance and large parking areas.

Department store

A large store divided into separate departments, each buying and managing its own merchandise, offering broad assortment and higher service levels under one roof.

Cash-and-carry format

A warehouse-style outlet selling in bulk to retailers, hotels and other businesses rather than final consumers. Entry usually requires membership or a valid trade licence.

Planogram

A diagram specifying the exact position, number of facings and shelf space of each product on a fixture, used to keep displays consistent and maximise sales per shelf.

Grid store layout

Parallel aisles at right angles forming a grid. Efficient for fast-moving groceries, easy to navigate and clean, but less inviting for browsing fashion goods.

Service quality dimensions

Five aspects customers use to judge service: reliability, responsiveness, assurance, empathy and tangibles such as cleanliness, signage and staff grooming.

Feature-advantage-benefit

A selling sequence: state the product feature, explain the advantage it gives, then link it to a benefit that matters to this specific customer's need.

Objection handling

The process of responding to a customer's doubt: listen without interrupting, acknowledge the concern, clarify it, answer with evidence, then confirm it is resolved.

Grievance handling steps

Listen to the complaint, apologise for the inconvenience, resolve immediately or escalate within a stated time, then record it and follow up with the customer.

Assortment breadth and depth

Breadth is the number of different product lines stocked; depth is the number of variants such as size, colour or brand within each line.

Golden zone

The shelf area roughly between waist and eye height where products sell fastest, so high-margin and impulse items are placed there in preference to top or bottom shelves.

Point-of-purchase display

A display placed at or near the billing counter or aisle end to prompt impulse buying of small, low-priced or newly launched items.

Rule of three in display

A visual merchandising guideline that grouping items in odd numbers, especially three, creates a balanced arrangement that the eye finds more attractive than even numbers.

Stock turnover ratio

Cost of goods sold divided by average inventory at cost. It shows how many times stock is sold and replaced in a period; higher means faster movement.

Reorder level

The stock quantity that triggers a new purchase order, calculated as average daily sales multiplied by lead time in days, plus safety stock.

Safety stock

Extra inventory held beyond expected demand to cover sudden demand spikes or supplier delays. It is larger when lead time or demand is more uncertain.

ABC analysis

Stock classification by value: A items are few but high-value and tightly controlled, B items are moderate, and C items are many but low-value with simpler controls.

Shrinkage

The gap between recorded book stock and physically counted stock, caused by shoplifting, employee theft, supplier short supply, damage or administrative error.

Till reconciliation

End-of-day check where opening float plus cash sales, minus refunds and petty cash paid out, must equal the physical cash counted in the drawer.

Counting change rule

State aloud the amount received, then return change counting upward from the bill total to the amount handed over, so the customer can verify the sum.

Counterfeit note check

Verify currency by feeling the paper texture, checking the watermark and security thread, tilting for colour-shift ink, and comparing the serial number.

Credit note

A document issued to a customer for returned goods or an overcharge, reducing the amount owed or allowing adjustment against a future purchase.

Electronic article surveillance

A security system using tags or labels attached to merchandise that trigger an alarm at store exits if not removed or deactivated at the billing counter.

PASS fire extinguisher rule

Operating sequence for a fire extinguisher: pull the pin, aim at the base of the fire, squeeze the handle, and sweep side to side until the fire is out.

Cash-in-transit safety

Procedures for moving cash safely: vary route and timing, keep amounts confidential, use two staff, and never count large sums openly at the counter.

Incident report contents

A written record stating date, time, place, people involved, what happened, injuries or loss, and the action taken, submitted to the supervisor without delay.

Active listening

Fully concentrating on a speaker: facing them, keeping eye contact, not interrupting, paraphrasing what was said and asking questions to confirm understanding.

GSTIN structure

A 15-character tax identification code: two-digit state code, ten-character PAN, one entity number and one check character, printed on tax invoices.