Deck 1

Question 1

Monopoly

Answer 1

Exclusive control over a product or the means of producing it

Question 2

Derived Demand

Answer 2

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

Question 3

Private Sector

Answer 3

Businesses not associated with government agencies

Question 4

Flextime

Answer 4

A program that allows workers to choose their work hours

Question 5

Telecommuting

Answer 5

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

Question 6

Emotional Barriers

Answer 6

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

Question 7

Enumeration

Answer 7

Listing terms in order

Question 8

Assertiveness

Answer 8

Standing up for what you beileve

Question 9

empathy

Answer 9

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

Question 10

horizontal organization

Answer 10

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

Question 11

telemarketing

Answer 11

the process of selling over the phone

Question 12

emotional motive

Answer 12

A feeling experienced by a customer through association with a prduct

Question 13

pre-approach

Answer 13

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

Question 14

prospect

Answer 14

A potential customer; also know as a lead

Question 15

cold canvassing

Answer 15

the process of locating as many potential customers as possible

Question 16

laymans terms

Answer 16

Words the average customer can understand

Question 17

boomerang method

Answer 17

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

Question 18

subsititution method

Answer 18

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

Question 19

superior-point method

Answer 19

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

Question 20

marquee

Answer 20

An architectural canopy that extends over a store’s entrance

Question 21

formal balance

Answer 21

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

Question 22

informal balance

Answer 22

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

Question 23

e-tailing

Answer 23

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

Question 24

e-marketplace

Answer 24

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

Question 25

integrated distribution

Answer 25

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

Question 26

blisterpack

Answer 26

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

Question 27

loss leader

Answer 27

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

Question 28

protectionism

Answer 28

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