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Use this page to repeat the most important points from the module and as a quick reference when you are in a concrete situation in practice.
| Concept | Short explanation |
|---|---|
| Markup | The difference between purchase and selling price |
| Contribution margin | What a product contributes after variable costs |
| Right of complaint | Statutory right in case of defects that were in the product from the start |
| Inventory turnover rate | How fast the inventory is sold and renewed |
| CRM | System that keeps track of customers |
Ask to try both a sales, purchasing and customer service task. When you have seen both sides of the transaction, you understand far better why things are done the way they are.
“The skilled retail employee doesn't just provide a product — they create a customer who comes back.”