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Retail 265 3/28/16 week of notes

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by: Kara Lyles

Retail 265 3/28/16 week of notes Retail 265

Marketplace > University of South Carolina > Retail > Retail 265 > Retail 265 3 28 16 week of notes
Kara Lyles

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About this Document

These notes cover this passed week in class notes. ( 3/28/16 - 4/1/16)
Principles of Retailing (265)
Karen Edwards
Class Notes
Retail 265
25 ?




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"Loved these! I'm a horrible notetaker so I'll be your #1 fan in this class"
Kris Klein

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This 4 page Class Notes was uploaded by Kara Lyles on Friday April 1, 2016. The Class Notes belongs to Retail 265 at University of South Carolina taught by Karen Edwards in Spring 2016. Since its upload, it has received 32 views. For similar materials see Principles of Retailing (265) in Retail at University of South Carolina.


Reviews for Retail 265 3/28/16 week of notes

Star Star Star Star Star

Loved these! I'm a horrible notetaker so I'll be your #1 fan in this class

-Kris Klein


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Date Created: 04/01/16
3/28/16 - 4/1/2016 Customer Service Individuals expect different level of customer service depending on retailer Customer service includes activities that influence:  Ease of shopping and learning about product,  Ease of completing transaction,  Customer satisfaction Phases of Service Pre-transaction service: ex. store hours Transaction service: ex. Customer buying online, sales associate helping customer Post-transaction service: ex. tailoring Goals 1. Get customer into your store 2. Convert them to customers 3. Operate as Efficiently as Possible Customer Relationship Management (CRM) *All customers are not equally profitable How to get information on customer??? Through data that is collected CRM involves data- based relationship building - Communication - Rewards - Enhanced Service Customer – Centric Retailing …. Is a business strategy of aligning products and services with the wants and needs of the retailer’s most valuable customers. Objective: Long- term profits Example: Nordstrom’s CRM Cycle Collect customer data analyze data develop CRM Program Implement CRM Program Customer Complaints 1. acknowledge the importance of the customer 2. Empathize :ask all questions needed to understand the customer’s problem 3. Repeat problem 4. Think of all possible solutions 5. Agree to the solution 6. Make sure the customer leaves feeling as you would want Do we even need salespeople? Salesperson selection  Hiring criteria  Predictors: Demographics, personality, knowledge of the individual, and experience *EXPERIENCE is very important Checklist  Outgoing  Able to build relationships  Area-specific qualifications Ex: cosmetics, shoes, intimate apparel 3Ps of salesperson Training  Policies (How to do things)  Persona (our image)  Persuasion (the selling process) The selling process A. Greeting B. Ask open -ended questions C. Present merchandise D. Explain features and benefits of item *features (describes) benefits (do) E. Overcome objections F. Close the sale Customer types  Defensive (Don’t really trust salesperson)  Interrupter ( Intense and impatient)  Decisive (Confident in making decisions)  Indecisive ( worried about making the wrong decision)  Sociable (Friendly talkative)  Impulsive ( quick to make decisions) Salesperson evaluation Performance standards:  Sales per hour - Total sales/Hrs. Worked  Conversion rate -shoppers into customers  Use of time- standard v. Observed  Teamwork-standard v. observed *Objective; Data Driven


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