Deck 10 Flashcards Preview

50 Terms > Deck 10 > Flashcards

Flashcards in Deck 10 Deck (50):
1

Blister pack

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

2

Business Philosphy

Beliefs about how a business should be run that demonstrate an understandingOf the business' role in the marketplace

3

Brick and Mortar Buying

Traditional retailers that sell goods to customers from physical stores, rather then over the internet

4

Just in time Inventory System

An inventory system that controls flow of parts and material into assembly and manufacturing plants

5

Monopoly

Exclusive control over a product or the means of producing it.

6

Performance bonds

A type of insurance that provides financial protection for losses that might

7

e-tailing

retailers selling products over the internet to the consumer also known as online retailing

8

pre-approach

the preporation for the face to face encounter with potential customers

9

objection anaylsis sheet

a document that lists common objectives and possible responces to them

10

prospect

a potential customer also known as a lead

11

recession

a period of economic slowdown that lasts for two quarters or six months

12

skimming pricing

a pricing that sets a very high price for a new product

13

trial close

an intial effort to close a sale

14

sole proprietorship

a business owned and operated by one person

15

whistle-blowing

reporting an illegal action by one's employer

16

planning

he process of settong goals and determining how to reach them

17

vertical organization

a hierarchial up and down organizational structure in which the tasks and responsibilites of each level are clearly defined

18

which close

a method of closing a sale that encourages a customer to make a decision between two items

19

trading area

the geographical area from which a business draws its customers

20

want slips

customers requests for items that are not carried in the store

21

triadic colors

three colors that are equally spaced on a color wheel

22

rational motive

a conscious logical reason for a purchase

23

realistic goal

a goal that a person has a reasonable chance of achieving

24

setting

the circumstances under which communication takes place

25

label

an information tag, wrapper, seal, or iprinted message that is attached to a product or its package

26

layaway

a sales method that keeps merchandise in storage until the customer finishes paying for it

27

lifestyle

the kind of life a person lives

28

marketing

process of planning, pricing, promoting, selling, and distributing products to satisfy customers' needs and wants

29

middle management

managers who implement the decisions of top management

30

mini- nationals

midsize or smaller companies that have operations in multiple countries

31

brand label

label giving the brand name trademark or logo

32

brand mark

a unique symbol, coloring, lettering, or design elements

33

channels

the avenues through which messages are delivered

34

clip art

images, stock drawings and photographs used in print advertising

35

broadcast media

radio and television

36

collateral

something of value that a person pledges as a payment for a loan in case of default

37

expansion

a time when the economy is flourishing also prosperity

38

equity

the concept of equal rights and opportunities for everyone

39

flextime

a program that allows workers to choose their work hours

40

gross profit

the difference between sales revenue and the cost of goods sold

41

feedback

a reciever's responce to a message

42

generic brands

products that do not carry a company identity

43

hypertext markup language (HTML)

a detailed code used to write web pages

44

impression

a single exposure to an advertising messge

45

job lead

information about a job opening

46

marquee

an architectural canopy that extends over a stores enterance

47

nonverbal communication

expressing oneself without the use of words

48

package

the physical container or wrapping fir a product

49

private carriers

trucking companies that transport goods for an individual business

50

teamwork

work done by a group of people to achieve a common goal