Deck 1 Flashcards Preview

50 Terms > Deck 1 > Flashcards

Flashcards in Deck 1 Deck (28):
1

Monopoly

Exclusive control over a product or the means of producing it

2

Derived Demand

The demand for industrial goods based on the demand for consumer goods and services

3

Private Sector

Businesses not associated with government agencies

4

Flextime

A program that allows workers to choose their work hours

5

Telecommuting

A program that involves working at home, usually on a computer, with completed jobs transmitted by e-mail or mail-in disk

6

Emotional Barriers

Biases against the sender’s opinions that prevent a listener from understanding

7

Enumeration

Listing terms in order

8

Assertiveness

Standing up for what you beileve

9

empathy

an understanding of a person's situation or frame of mind

10

horizontal organization

A structure where top management shares decision making with self-managing teams of workers who set their own goals and make their own decisions

11

telemarketing

the process of selling over the phone

12

emotional motive

A feeling experienced by a customer through association with a prduct

13

pre-approach

The preparation for the face-to-face encounter with potential customers

14

prospect

A potential customer; also know as a lead

15

cold canvassing

the process of locating as many potential customers as possible

16

laymans terms

Words the average customer can understand

17

boomerang method

A selling method that converts a customer's objecction into a selling point

18

subsititution method

A selling method that involves recommending a different product that would still satisfy the cutomer's needs

19

superior-point method

A selling technique that permits the salesperson to acknowledge objections as valid yet still offset them with other features and benefits

20

marquee

An architectural canopy that extends over a store's entrance

21

formal balance

When a large item is placed on one side of a display, a similarly large item should be placed on the other side

22

informal balance

The placement of several small items with one large item within a display

23

e-tailing

Retailers selling products over the internet to the customer; also known as online retailing

24

e-marketplace

The online shopping location where products are sold to customers and industrial buyers through the use of the internet

25

integrated distribution

A distribution system in which manufacturers act as a wholesaler and retail their own products

26

blisterpack

Packaging with performed plastic molds surrounding individual items arranged on a cardboard backing

27

loss leader

An item priced at or below cost to draw customers into a store

28

protectionism

A government's establishment of economic policies that restrict imports to protect domestic imports