Flashcards in Deck 11 Deck (43):
1
Adjacent Colors
colors that are next to each other on the color wheel
2
Aseptic Package
a food storage process that keeps food fresh without refrigeration for up to six months
3
BBB
one of the oldest nonprofit organizations that establishes self regulation among businesses
4
Basic Stock List
a list used for those staple items that should always be in stock
5
Bonded Warehouses
warehouses that store products requiring the payment of federal tax
6
Boomerang Method
a selling method that converts a customers objection into a selling point
7
Centralized Buying
buying process for all branches in a chain store operation, usually done in a central location, such as company headquarters
8
Cold Canvassing
the process of location as many potential customers as possible without checking out leads beforehand
9
Decentralized Buying
Local chain store managers or their designated buyers who are authorized to make special purchases for their individual stores
10
Dollar Control
the planning and monitoring of the total inventory investment that a business makes during a stated period of time
11
Drop Shippers
businesses that own the goods they sell but do not physically handle the products
12
Empathy
an understanding of a persons situation or frame of mind
13
Endless Chain Method
the process of asking previous customers for names of potential customers
14
Exempt Carriers
trucking companies that are free from direct regulation of rates and operating procedures
15
EEOC
equal employment opportunity commission
16
FTC
Federal trade commission
17
Fidelity Bonds
a type of insurance that protects a business from employee dishonesty
18
Firewall
hardware or software that protects a compurter from attacks by hackers
19
Flextime
a program that allows workers to choose their work hours
20
HTML
hypertext markup language
21
HTTP
hypertext transfer protocol
22
indirect distribution
sales of goods or services to the customer through intermediaries
23
Intermediaries
business involved in sales transactions that move products from the manufacturer to the final user; also known as middlemen
24
ISP
internet service provider
25
JIT
just in time inventory system
26
Laymans Terms
words the average customer can understand
27
LLC
limited liability company
28
Marquee
an architectural canopy that extends over a stores entrance
29
Memorandum Buying
a buying process in which the supplier agrees to take back any unsold goods by a certain pre-established date
30
Merchandise Approach
a way to approach a customer that focuses on making a comment about a product in which the customer shows interest
31
mini-nationals
midsize or smaller companies that have operations in multiple countries
32
model stock list
an inventory monitoring plan used for merchandise that quickly goes out of fashion
33
O*NET
occupational information network
34
on-approval sale
an agreement permitting a customer to take merchandise home for further consideration
35
Penetration Pricing
a pricing policy that sets the initial price for a new product very low
36
Performance Bonds
a type of insurance that provides financial protection for losses that might occur when a construction project is not finished due to the contractors impaired financial condition
37
Physical Inventory System
an inventory sstem where every so often stock is visually inspected or actually counted to determine the quantity on hand
38
Planogram
a computer developed diagram that shows retailers how and where products within a category should be displayed on a shelf at individual stores
39
Prestige Pricing
a pricing technique that sets higher than average prices to suggest status and high quality to the consumer
40
Protectionism
a governments establishment of economic policies that restrict imports to protect domestic industries
41
Rack Jobbers
wholesalers that manage inventory and merchandising for retailers by counting stock, filing it in when needed.
42
Stock keeping unit
a unit or a group ofrelated items in a unit control inventory system
43