Patience is needed to keep showing your product to customers before you do a sale
If there are 3 bicycle vendors. Each has 10 pieces. 105 prospects (potential customers) visited them. Finally 15 items got sold that is half of total items. As per vendor observation, On an average, how many prospects visited a vendor ? How many prospects saw an item before it got sold ? How much percentage of prospects bought an item? How many people visited each vendor.
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Let's break this down step by step:
1. Average number of prospects per vendor:
There are 3 vendors.
A total of 105 prospects visited.
So, on average, each vendor was visited by:
\frac{105}{3} = 35 prospects per vendor
2. Prospects per item before it got sold:
15 items were sold in total.
105 total prospects visited.
On average, each sold item was seen by:
7 prospects per sold item.
3. Percentage of prospects who bought an item:
15 items were sold.
105 prospects visited.
The percentage of prospects who bought:
\left( \frac{15}{105} \right) \times 100 = 14.29\%
4. Number of customers visited vs who bought the item.
Since each vendor was visited by 35 prospects on average, and there are 3 vendors, an item was bought only by 5 out of 35 which visited.
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