Rise Up 2.2 Sales Basic
Revenue - CORRECT ANSWER-Total amount of income generated from the sale of
goods and services. Calculated by multiplying the total number of products or services
sold by their selling prices.
Profit - CORRECT ANSWER-The amount of income generated from the sale of goods
and services AFTER all expenses, debts, and operating costs have been subtracted.
Transaction - CORRECT ANSWER-An instance of buying or selling something in retail
is called a transaction. This can take place when a customer buys or returns a product.
Key Performance Indicators - CORRECT ANSWER-Values used to measure
performance such as overall sales, and customer satisfaction levels. Examples of KPIs
that are often used in retail stores includes sales per square foot, sales per hour, and
dollars per transaction.
SMART - CORRECT ANSWER-Goal system is a process used to help people develop
quality goals.
Sales Per Square Foot - CORRECT ANSWER-The average amount of merchandise
sold per square foot space in a store. This information helps a store's employees
understand of the store is performing well overall and if the store's layout is effective.
Units Per Transaction - CORRECT ANSWER-Also known as UPT, is a way retailers
measure the average number of items their customers are buying per transaction. The
higher the UPT, the more items customers are purchasing for every visit.
Average Sales - CORRECT ANSWER-Are the total amount of sales for a given period
divided by the number of customers of transactions for the same period.
Revenue - CORRECT ANSWER-Total amount of income generated from the sale of
goods and services. Calculated by multiplying the total number of products or services
sold by their selling prices.
Profit - CORRECT ANSWER-The amount of income generated from the sale of goods
and services AFTER all expenses, debts, and operating costs have been subtracted.
Transaction - CORRECT ANSWER-An instance of buying or selling something in retail
is called a transaction. This can take place when a customer buys or returns a product.
Key Performance Indicators - CORRECT ANSWER-Values used to measure
performance such as overall sales, and customer satisfaction levels. Examples of KPIs
that are often used in retail stores includes sales per square foot, sales per hour, and
dollars per transaction.
SMART - CORRECT ANSWER-Goal system is a process used to help people develop
quality goals.
Sales Per Square Foot - CORRECT ANSWER-The average amount of merchandise
sold per square foot space in a store. This information helps a store's employees
understand of the store is performing well overall and if the store's layout is effective.
Units Per Transaction - CORRECT ANSWER-Also known as UPT, is a way retailers
measure the average number of items their customers are buying per transaction. The
higher the UPT, the more items customers are purchasing for every visit.
Average Sales - CORRECT ANSWER-Are the total amount of sales for a given period
divided by the number of customers of transactions for the same period.
