Presentation on theme: "Process the sale to complete the exchange."— Presentation transcript:
1Process the sale to complete the exchange. Marketing Indicator 2.11Process the sale to complete the exchange.
2Types of charges and discounts associated with purchases. Credit card fee (percent of sales based on a sliding scale)Travel & entertainment cards is slightly higher than bank cards1.79% (MC/Visa) % (Am Ex)Debit card fee (flat fee no matter how much purchase is)Purchase Discount – set amount of money business saves on specific order if the payment made within certain period of time.Ex: A purchaser brought a $100 item, with a purchase discount term 3/10, net 30. If he pays within 10 days, he will only need to pay $97. If not, amount needs to be fully paid within 30 days.Bulk discounts – purchasing a large quantity & getting a discount on the price
3How do charges and discounts affect the price of purchases? Can increase the cost of items, overall, to cover credit card charges and frequent discountsRetailers want to make money, so they pass the charges/loss of revenue because of discount down to the customer
4Tax Table Sales Tax and Example OHIO SALES TAX EXERCISEWORKSHEET + TAX TABLE
5Shipping/Delivery Table Shipping Charges and Example WORKSHEET + CHART
6Alteration Charges How to read & calculate from a chart WORKSHEET
7How does technology speed up calculations of charges and discounts? Don’t have to figure “in your head” or by hand calculations of charges and/or discountsCash register/POS (point of sale) terminal/Register does it for you, so you don’t have to make changeEx: $6.65 sale. You are given a $10 bill. How will you make change?Lessens the time taken to double check figures.
8What is the impact of incorrectly calculating charges/discounts? Drawer/register doesn’t balanceCosts the retailer moneyMay cost the retailer a customerEx: Overcharging the customerEx: Customer loses confidence in store, as the transaction wasn’t correctTakes time to redo the sale/void out the previous transactionBooks/accounting don’t reconcile