Deck 12 Flashcards
(25 cards)
Free Enterprise System
A system that encourages individuals to start and operate their own businesses in a competitive market, without government involvement.
Public Sector
Local, state, and federal government agencies and services, such as public libraries and state universities.
Wholesalers
Channel of distribution that obtains goods from manufacturers and resells them to industrial users, other wholesalers, and retailers.
Green Marketing
Producing and promoting environmentally safe products.
Price Gouging
Pricing products unreasonably high when there is a high demand resulting from a monopoly or a natural disaster.
Emotional Barriers
Biases against the sender’s opinions that prevent a listener from understanding.
Jargon
Specialized vocabulary used by members of a particular group.
Consensus
A decision on which all members of a team agree.
Vertical Organization
A hierarchal, up-and-down organizational structure in which the tasks and responsibilities of each lever are clearly defined.
Middle Management
Managers who implement the decisions of top management.
Empowerment
Encouragement of team member to contribute and take responsibility for the management process.
Remedial Action
Using preventative discipline or corrective discipline
Exit Interview
An iterview arranged by the human resources department when an employee leaves a company
Consultative Selling
Sales that provide solutions to customers’ problems by finding products that meet their needs
Rational Motive
A conscious, logical reason for a purchase
Superior-point method
A selling technique that permits the salesperson to ackknowledge objections as valid yet still offset them with other featrues and benefits.
Till
The cash drawer of a cash register.
Recession
A period of economic slowdown that lasts for two quarters, or six months.
Trial close
An initial effort to close a sale.
Unit Control
A method of stock control that measures the quantities of merchandise that a business handles during a period of time.
Unit Pricing
Including price information for a standard unit or measure so that consumers can compare prices more easily.
Want Slips
Customer requests for items that are not carried in the store.
Whistle-blowing
Reporting an illegal action by one’s employer.
Loss Leader
An item priced at or below cost to draw customers into a store.
