Deck 14 Flashcards Preview

50 Terms > Deck 14 > Flashcards

Flashcards in Deck 14 Deck (50):
1

Enumeration

Listing items in order

2

Initiative

The process of taking action and doing what needs to be done without being asked

3

Equity

The concept of equal rights and opportunities for everyone

4

Top Management

Managers that make decisions that affect the whole company

5

Supervisory-level Management

Managers who supervise the activities of employees who carry out the tasks determined by middle and top management

6

Horizontal Management

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

7

Feature-Benefit Selling

Sales that match the characteristics of a product to a customer's needs and wants

8

Emotional Motive

A feeling experienced by a customer through association with a product

9

Extensive Decision Making

The process used when there has been little or no previous experience with an item

10

Limited Decision Making

The process used when a person buys goods and services that he or she has purchased before or not regularly

11

Routine Decision Making

The process used when a person needs little information about a product to make a decision because he or she buys it regularly

12

Pre-approach

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

13

Endless Chain Method

The process of asking previous customers for names of potential customers

14

Cold Canvassing

The process of locating as many potential customers as possible without checking out leads beforehand

15

Service Approach

A way to approach a customer that focuses on asking the customer if he or she needs assistance

16

Greeting Approach

A way to approach a customer that focuses on welcoming the customer to the store

17

Merchandise approach

A way to approach a customer that focuses on making a comment or asking questions about a product in which the customer shows interest

18

Open-ended Question

Questions that require respondents to construct their own answers

19

Layman's Terms

Words the average customer can understand

20

Objection Analysis Sheet

A document that lists common objections and possible responses to them

21

Substitution Method

A selling method that involves recommending a different product that would still satisfy the customer's needs

22

Boomerang Method

A selling method that converts a customer's objection into a selling point

23

Superior-point Method

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

24

Third-party Method

A selling method that involves using a previous customer or other neutral person who can give a testimonial about the product

25

Buying Signals

The things customers do or say to indicate a readiness to buy

26

Jargon

Specialized vocabulary used by members of a particular group

27

Vertical Organization

A hierarchical, up-and-down organizational structure in which the tasks and responsibilities of each level are clearly defined

28

Trail Close

An initial effort to close a sale

29

Values

Beliefs that guide the way people live

30

Whistle-Blowing

Reporting an illegal action by one's employer

31

Wholesale and Retail Buyers

Buyers who purchase goods for resale

32

Trading Area

The geographical area from which a business draws its customers

33

Triadic Colors

Three colors that are equally spaced on the color wheel

34

Transit Advertising

Advertising found on public transportation

35

Resources

All the things used in producing goods and services

36

Sales Forecasts

The projection of probable future sales in units or dollars

37

Site Map

An outline of what can be found on each page within the Web site.

38

Tariff

A tax on imports; also known as a duty

39

Storage

A marketing function that refers to the holding of goods until they are sold

40

Till

The cash drawer of a cash register

41

Ton-Mile

The movement of one ton of freight one mile

42

Rational Motive

A conscious, logical reason for a purchase

43

Realistic Goal

A goal that a person has a reasonable chance of achieving

44

Psychological Pricing

Pricing techniques that help create an Illusion for customers

45

Package

The physical container or wrapping for a product

46

Price

The value placed on a product

47

Networking

The art of building business contacts and alliances

48

Loss Leader

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

49

Job Lead

Information about a job opening

50

Digit

The ten basic symbols that compose the numbering system