Lesson 3 buying and selling the products objectives 1

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Fundamentals of Business Law Today: Summarized Cases
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Chapter 9 / Exercise 1
Fundamentals of Business Law Today: Summarized Cases
Miller
Expert Verified
Lesson 3: Buying and Selling the Products Objectives: 1. Describe how a seller buys his/her products 2. Describe what is required in effective selling 3. Enumerate the duties of a salesperson 4.Explain how to compute the selling price of a product based on cost, mark-up and profit
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Fundamentals of Business Law Today: Summarized Cases
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Chapter 9 / Exercise 1
Fundamentals of Business Law Today: Summarized Cases
Miller
Expert Verified
1. Inquiries made by his/her sales clerk to customers 2. Stock record which shows the items that are easily sold out 3. The sales of the different items and the merchandise with the highest sales Duties of the Salesperson A salesperson must be well-oriented on his/her duties and should carry them out well. His/her goal is to make a sale always. 1. To sell goods of the best quality possible. 2. To sell goods at the most reasonable price. 3. To be honest, courteous, and straightforward in his/her dealings. 4. To give the most satisfactory service to the customer. 5. To follow “The customer is always right” and “First come, first serve” policy to customers as they should be treated fairly. The dictum “The customers is always right” must always be observed. Every customer, young or old, rich or poor must be treated fairly with respect and attention until such is voided because if misbehavior and scandalous words and actions. As a routine, any customer who comes in the store is greeted by the salesperson with “Good ________ (morning, afternoon, or evening)! Followed with “What can I do for you,, Ma’am/Sir?” Then the salesperson presents/takes the items asked for. He/She answers queries about the item. When the transaction is completed, the salesperson says “Thank you, Ma’am/Sir, please come again!” and “Have a nice day.” Computing the Price of the Product The profitability of the store is greatly affected by the pricing of the product. There are several components of a price. These are: 1. Cost – this refers to the part of the price that covers the product. It is the amount paid for the merchandise. 2. Mark-up – this refers to the additional expenses involved in selling the goods and transportation, taxes, and others. 3. Profit – this refers to the amount added to the item cost. 4
Below is an illustration of a sample price component.

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