Deck 16

Question 1

Attitude Research

Answer 1

a type of research to designed to obtain info on how people feel about certain products, services, companies, or ideas

Question 2

Aptitude

Answer 2

An ability or natural talent; the potential to learn a certain skill

Question 3

Blind Check Method

Answer 3

The receiver of a delivery writes the description of the merchandise, counts the quantities received, and lists them on blank form or dummy invoice

Question 4

Basic Stock List

Answer 4

A list used for those staple items that should always be in stock

Question 5

Bonded Warehouse

Answer 5

Public or private warehouses that store products requiring the payment of a federal tax

Question 6

buying signals

Answer 6

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

Question 7

careeer outlook

Answer 7

valuable information on the number and types of jobs available in any field

Question 8

channels

Answer 8

the avenues through which messages are delivered

Question 9

consensus

Answer 9

a decsion on which all memebers of a team agree

Question 10

cross-training

Answer 10

a process that prepares a team member to do ,amy different activities

Question 11

debt capital

Answer 11

borrowed funds that must be repaid

Question 12

drop shippers

Answer 12

businesses that own the goods they sell but do not physically handle the products

Question 13

enumeration

Answer 13

listing items in order

Question 14

equity

Answer 14

the concept of eqaul rights and opportunity for everyone

Question 15

fidelity bonds

Answer 15

a type of insurance that protects a business from employee dishonesty

Question 16

flextime

Answer 16

a program that allows workers to choose theie work

Question 17

green marketing

Answer 17

producing and promoting evironmentally safe products

Question 18

informal balance

Answer 18

the placement of several small items with one large item within a display

Question 19

jargon

Answer 19

specialized vocabukary used by members of a particular group

Question 20

layman’s terms

Answer 20

words the average customer can uderstand

Question 21

loss leader

Answer 21

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

Question 22

maintained markup

Answer 22

the difference between an item’s final sale price and its cost

Question 23

marquee

Answer 23

an architectural canopy that extends over a store’s entrance

Question 24

never-out list

Answer 24

an inventory monitoring plan used for best selling products that make up a large percentage of sales volume

Question 25

occupational area

Answer 25

a category of jobs that involve similar interstes and skills

Question 26

Horizontal Organization

Answer 26

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

Question 27

One-Price Policy

Answer 27

All customers are charged are charged the same price for the goods and services offered for sale

Question 28

Open-To-Buy

Answer 28

The amount of money left for buying goods after all purchases received and on order have been considered

Question 29

Penetration Pricing

Answer 29

A pricing policy that sets the initial price for a new product very low

Question 30

Performance Bonds

Answer 30

A type of insurance that provides financial protection for loses that might occur when a construction project is not finished due to the contractors impaired financial condition; also know as surety bonds

Question 31

Pull Policy

Answer 31

A process that directs promotion towards customers

Question 32

Reverse Auction

Answer 32

Sale in which companies post what they want to buy and suppliers bid for contract

Question 33

Which Close

Answer 33

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

Question 34

Public Sector

Answer 34

Government financed agencies

Question 35

Private Sector

Answer 35

Businesses not associated with government agencies

Question 36

Vertical Organization

Answer 36

Refers to a chain of command, hierarchical structure where the tasks and responsibilities of each level of the organization are clearly defined

Question 37

Top Management

Answer 37

Those who make decisions that affect the whole company

Question 38

Middle Management

Answer 38

Implements the decisions of top management

Question 39

Supervisory - Level Management

Answer 39

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

Question 40

Remedial Action

Answer 40

Is a means of encouraging appropriate workplace behavior in order to improve employee performance

Question 41

Personal Selling

Answer 41

Is any form of direct contact between a salesperson and a customer

Question 42

Consultative Selling

Answer 42

Providing solutions to customer's problems by finding products that meet their needs

Question 43

Rational Motive

Answer 43

A conscious, logical reason for a purchase

Question 44

Emotion Motive

Answer 44

A feeling experienced by a customer through association with a product

Question 45

Limited Decision Making

Answer 45

Used when a person buys goods and services that he or she has purchased before but not regularly

Question 46

Routine Decision Making

Answer 46

Used when a person needs little information about a product

Question 47

Endless Chain Method

Answer 47

When salespeople ask previous customers for names of potential customers whom you might not have reached without a recommendation

Question 48

Cold Canvassing

Answer 48

Potential customers are selected at random

Question 49

Objection Analysis Sheet

Answer 49

A document that lists common objections and possible responses to them

Question 50

Substitution Method

Answer 50

Recommending a different product that would satisfy the customer's needs