Block E – Business Practices

Trends

Partspersons are becoming more aware of and involved in marketing strategy. Online ordering is becoming more prominent. There is a continuing increase of social media for marketing.

Related Components (including, but not limited to)

Gondolas, turnstiles, display fixtures, shelving units, pricing labels, warranty manuals and tags, signage, banners, posters, displays, product literature, invoices (pre-printed, computer generated), deposit books (bank, company), customer account registry.

Tools and Equipment

Reference tools, business machines and communication equipment.

Task 14 Promotes products and services.

Context

Partspersons promote various products and services based on customers’ requirements, seasonal trends and vendor promotions.

Required Knowledge

• K 1 promotional items, coupons and their time frame
• K 2 special tags
• K 3 pricing
• K 4 seasonal trends and items
• K 5 available literature
• K 6 various products available
• K 7 product features and benefits
• K 8 sourcing information electronically
• K 9 product dangers such as corrosiveness and flammability
• K 10 product safety regulations such as labelling, MSDS and TDG
• K 11 product warranty
• K 12 related products
• K 13 price value
• K 14 new products
• K 15 available and recommended services
• K 16 warranty options such as customer installation or service installation
• K 17 on-call service
• K 18 work order system
• K 19 product needed to complete task
• K 20 various systems such as mechanical, electrical, hydraulic and cooling
• K 21 selling techniques

Sub-task - E-14.01 Displays products and literature.

Key Competencies

• E-14.01.01 choose display method such as open and closed, posters, and clearance tables and bins according to product
• E-14.01.02 display current in-store and manufacturers’ promotional products and literature
• E-14.01.03 maintain display and signage according to company policy
• E-14.01.04 determine strategic location for display according to store layout, seasonal trends and product visibility
• E-14.01.05 label products with pertinent information such as accurate pricing, alphanumerical listings, product number and bar code
• E-14.01.06 select products for display according to seasonal trends, market trends and supplier promotion
• E-14.01.07 select and display related products according to promotional items

Sub-task - E-14.02 Recommends products to customer.

Key Competencies

• E-14.02.01 explain to customer product benefits such as quality, price, warranty and availability
• E-14.02.02 explain product information to ensure correct application and usage
• E-14.02.03 recognize customers’ needs by asking closed and open-ended questions
• E-14.02.04 introduce new and innovative products by explaining their features and benefits
• E-14.02.05 recommend related products to assist/enhance product usage

Sub-task - E-14.03 Recommends services to customer.

Key Competencies

• E-14.03.01 recognize customers’ needs by asking closed and open-ended questions
• E-14.03.02 introduce services by explaining their features and benefits
• E-14.03.03 recommend related service to assist/enhance product usage
• E-14.03.04 offer to test customers’ used products such as electrical and electronic components prior to purchase to confirm defect
• E-14.03.05 explain mailing list options to customer

Task 15 Implements pricing formula.

Context

Partspersons price products according to company policy, net cost and promotions.

Required Knowledge

• K 1 products
• K 2 pricing structures
• K 3 price changes such as price increases and promotional prices
• K 4 basic mathematics
• K 5 additional costs such as freight, taxes, brokerage, environmental fees and currency exchange
• K 6 company and customer discount policy
• K 7 pricing for discontinued items

Sub-task - E-15.01 Calculates additional costs.

Key Competencies

• E-15.01.01 research and determine additional costs such as shipping fees, environmental fees and taxes, and customs and duty fees
• E-15.01.02 calculate net cost (landed) for product, taking into consideration labour charges, currency exchange rates, shipping fees and brokerage fees according to company pricing formula
• E-15.01.03 calculate customer price taking into consideration net cost and company pricing formula

Sub-task - E-15.02 Overrides price.

Key Competencies

• E-15.02.01 modify invoice according to company policy and management instruction
• E-15.02.02 verify pricing on specials and promotions
• E-15.02.03 compare products to verify quality, warranty and availability
• E-15.02.04 research competitors’ prices to verify override
• E-15.02.05 verify and override pricing errors

Task 16 Processes financial transactions.

Context

Partspersons process financial transactions based on company policies. They process various methods of payments, depending on the customer and their type of account.

Required Knowledge

• K 1 methods of payment such as cash, credit card, cheques, debit card and inhouse charge
• K 2 company financial practices such as received on account (ROA ), terms of payment and central billing
• K 3 types of invoices such as cash, charge, credit and quotes
• K 4 pricing and discounting structure
• K 5 manufacturers’ and suppliers’ warranty/return policies such as duration of coverage and limitations of coverage
• K 6 company accounting system
• K 7 basic accounting principles
• K 8 related company policies

Sub-task - E-16.01 Generates invoices.

Key Competencies

• E-16.01.01 determine types of invoice such as quote, cash, charge and credit
• E-16.01.02 apply company pricing formula and discounting structures
• E-16.01.03 verify customer’s approved credit limit with the company
• E-16.01.04 use company invoice systems such as manual and electronic

Sub-task - E-16.02 Accepts payments.

Key Competencies

• E-16.02.01 use company point of sale (POS ) systems such as manual and electronic
• E-16.02.02 obtain authorization for credit card and cheque payments
• E-16.02.03 handle cash, make change and provide receipt

Sub-task - E-16.03 Processes customer returns.

Key Competencies

• E-16.03.01 identify types of returns such as core, warranty or new
• E-16.03.02 verify product return eligibility
• E-16.03.03 explain return policies to customers
• E-16.03.04 verify original receipts
• E-16.03.05 label returned items according to company policy
• E-16.03.06 place returned items in designated area according to company policy

Sub-task - E-16.04 Processes day end reports.

Key Competencies

• E-16.04.01 balance invoices, cash and credit card receipts according to company policy
• E-16.04.02 complete banking forms and financial documents according to company policy