Deck 12 Flashcards Preview

50 Terms > Deck 12 > Flashcards

Flashcards in Deck 12 Deck (25):
1

Free Enterprise System

A system that encourages individuals to start and operate their own businesses in a competitive market, without government involvement.

2

Public Sector

Local, state, and federal government agencies and services, such as public libraries and state universities.

3

Wholesalers

Channel of distribution that obtains goods from manufacturers and resells them to industrial users, other wholesalers, and retailers.

4

Green Marketing

Producing and promoting environmentally safe products.

5

Price Gouging

Pricing products unreasonably high when there is a high demand resulting from a monopoly or a natural disaster.

6

Emotional Barriers

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

7

Jargon

Specialized vocabulary used by members of a particular group.

8

Consensus

A decision on which all members of a team agree.

9

Vertical Organization

A hierarchal, up-and-down organizational structure in which the tasks and responsibilities of each lever are clearly defined.

10

Middle Management

Managers who implement the decisions of top management.

11

Empowerment

Encouragement of team member to contribute and take responsibility for the management process.

12

Remedial Action

Using preventative discipline or corrective discipline

13

Exit Interview

An iterview arranged by the human resources department when an employee leaves a company

14

Consultative Selling

Sales that provide solutions to customers' problems by finding products that meet their needs

15

Rational Motive

A conscious, logical reason for a purchase

16

Superior-point method

A selling technique that permits the salesperson to ackknowledge objections as valid yet still offset them with other featrues and benefits.

17

Till

The cash drawer of a cash register.

18

Recession

A period of economic slowdown that lasts for two quarters, or six months.

19

Trial close

An initial effort to close a sale.

20

Unit Control

A method of stock control that measures the quantities of merchandise that a business handles during a period of time.

21

Unit Pricing

Including price information for a standard unit or measure so that consumers can compare prices more easily.

22

Want Slips

Customer requests for items that are not carried in the store.

23

Whistle-blowing

Reporting an illegal action by one's employer.

24

Loss Leader

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

25

Mixed Bundling

The practice of packaging different products and services together.