Short Notes
a) Cash Memo
A cash memo is a document or receipt issued by a seller to the buyer when a product is sold for cash. It serves as proof of the transaction and includes details such as the name of the buyer, seller, product details, quantity, price, tax, total amount paid, and date of purchase.
Cash memos are mostly used in retail stores or businesses where the buyer makes immediate payment. The seller keeps a copy for record-keeping, and the buyer can use the cash memo for warranty claims or future reference.
Key Features of a Cash Memo:
- Indicates a cash sale
- Includes serial number, date, and business details
- Lists product name, price, quantity, and tax
- Shows the total amount received
- Authorized signature or stamp of the seller
Example: A customer buys groceries from a shop and pays in cash. The shopkeeper provides a printed cash memo that includes all the purchase details.
b) Trial Closes Unit
A trial close is a sales technique used by a salesperson to check the customer’s interest or readiness to buy before actually closing the sale. It helps in understanding if the customer is convinced or if there are any objections remaining.
It is not the final attempt to close the sale, but a way to test the waters. Trial closes are helpful in identifying concerns and guiding the salesperson on how to proceed.
Purpose of Trial Closes:
- To measure the buyer’s interest
- To get feedback without pushing the customer
- To identify hidden objections
- To keep the conversation moving toward a final sale
Common Trial Close Questions:
- “How do you feel about this feature?”
- “Would you prefer the silver model or the black one?”
- “Does this fit within your budget?”
- “Would you like me to go ahead and check stock availability?”
Trial closes are subtle and polite. They help the salesperson avoid being pushy and instead make the customer feel respected and understood.
Example: While selling a laptop, the salesperson might ask, “Would this configuration work for your daily college needs?” If the customer responds positively, the salesperson knows they are close to making the sale.