MRTS 2342-001 Exam 2 With 100% Correct And Verified Answers
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Course
MRTS
Institution
MRTS
MRTS 2342-001 Exam 2 With 100% Correct And Verified Answers
Merchandise - Correct Answer-Goods that are bought and to be sold, usually purchased from a whole seller.
Merchandising - Correct Answer-The purchase, display and sale of goods. A practice which contributes to the sale of products to a...
MRTS 2342-001 Exam 2 With 100%
Correct And Verified Answers
Merchandise - Correct Answer-Goods that are bought and to be sold,
usually purchased from a whole seller.
Merchandising - Correct Answer-The purchase, display and sale of goods.
A practice which contributes to the sale of products to a retail consumer.
Display of products in a way to stimulate interest, entice customers to
make a purchase.
Sales Objectives - Correct Answer-1. Sales history: How much of this item
have we sold?
2. Availability of product: Can we get it in a timely manner?
3. Recommendation of suppliers: Does the company have good
recommendations? How long in business?
4. Amount of profit: How much will we make from the sale?
Cost vs Value - Correct Answer-Cost: the amount of money required to
purchase something.
Value: usefulness or desirability of a good or service.
Profit Oriented - Correct Answer-Pricing strategies that rely on setting a
product or services price to attain a specific, predetermined net profit
percentage after all deductions.
, Considering Cost of Living Increase - Correct Answer-One of the many
outside influences that affect profitability and a retailers bottom line.
Setting the right price is a crucial step toward achieving that profit.
Legitimate Profit Increase Each Year - Correct Answer-Important because
setting an attainable profit increase each year can help avoid pitfalls. If
you set unrealistic goals it makes for having inaccurate profits.
Coordination of Merchandise - Correct Answer-Coordinate each casket,
vault or urn to offer additional value above the price are all part of sales
objectives.
Example: cheapest to most expensive
Human Factor - Correct Answer-Any merchandising plan is only as good
as the director's knowledge of the product. As a funeral director you need
to be able to convey knowledge of products.
Suppliers - Correct Answer-It is important to have a good relationship with
your suppliers.
Things to consider about suppliers:
1. Who do I purchase from?
2. Can the provide required quality, type or model?
3. Are they reliable?
4. Do they employ representatives?
Discount & Incentive - Correct Answer-Discount: savings on goods that is
offered to customers, usually as a reward for repeated business or for
bringing in the customers.
Incentive: Inducement or supplemental reward that serves as a
motivational devise for a desired action or behavior. Something that
motivates and individual to perform an action.
Cash Discount, Quantity Discount, Rebate, Consignment - Correct
Answer-Cash Discount: Reduction of price within time limits established.
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