Flashcards in Deck 16 Deck (50):
1
Attitude Research
a type of research to designed to obtain info on how people feel about certain products, services, companies, or ideas
2
Aptitude
An ability or natural talent; the potential to learn a certain skill
3
Blind Check Method
The receiver of a delivery writes the description of the merchandise, counts the quantities received, and lists them on blank form or dummy invoice
4
Basic Stock List
A list used for those staple items that should always be in stock
5
Bonded Warehouse
Public or private warehouses that store products requiring the payment of a federal tax
6
buying signals
the things customers do or say to indicate a readiness to buy
7
careeer outlook
valuable information on the number and types of jobs available in any field
8
channels
the avenues through which messages are delivered
9
consensus
a decsion on which all memebers of a team agree
10
cross-training
a process that prepares a team member to do ,amy different activities
11
debt capital
borrowed funds that must be repaid
12
drop shippers
businesses that own the goods they sell but do not physically handle the products
13
enumeration
listing items in order
14
equity
the concept of eqaul rights and opportunity for everyone
15
fidelity bonds
a type of insurance that protects a business from employee dishonesty
16
flextime
a program that allows workers to choose theie work
17
green marketing
producing and promoting evironmentally safe products
18
informal balance
the placement of several small items with one large item within a display
19
jargon
specialized vocabukary used by members of a particular group
20
layman's terms
words the average customer can uderstand
21
loss leader
an item priced at or below cost to draw customers into a store
22
maintained markup
the difference between an item's final sale price and its cost
23
marquee
an architectural canopy that extends over a store's entrance
24
never-out list
an inventory monitoring plan used for best selling products that make up a large percentage of sales volume
25
occupational area
a category of jobs that involve similar interstes and skills
26
Horizontal Organization
A structure where top management shares decision making with self managing teams of workers who set their own goals and make their own decisions
27
One-Price Policy
All customers are charged are charged the same price for the goods and services offered for sale
28
Open-To-Buy
The amount of money left for buying goods after all purchases received and on order have been considered
29
Penetration Pricing
A pricing policy that sets the initial price for a new product very low
30
Performance Bonds
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
31
Pull Policy
A process that directs promotion towards customers
32
Reverse Auction
Sale in which companies post what they want to buy and suppliers bid for contract
33
Which Close
A method of closing a sale that encourages a customer to make a decision between two items
34
Public Sector
Government financed agencies
35
Private Sector
Businesses not associated with government agencies
36
Vertical Organization
Refers to a chain of command, hierarchical structure where the tasks and responsibilities of each level of the organization are clearly defined
37
Top Management
Those who make decisions that affect the whole company
38
Middle Management
Implements the decisions of top management
39
Supervisory - Level Management
Managers who supervise the activities of employees who carry out tasks determined by the middle and top management
40
Remedial Action
Is a means of encouraging appropriate workplace behavior in order to improve employee performance
41
Personal Selling
Is any form of direct contact between a salesperson and a customer
42
Consultative Selling
Providing solutions to customer's problems by finding products that meet their needs
43
Rational Motive
A conscious, logical reason for a purchase
44
Emotion Motive
A feeling experienced by a customer through association with a product
45
Limited Decision Making
Used when a person buys goods and services that he or she has purchased before but not regularly
46
Routine Decision Making
Used when a person needs little information about a product
47
Endless Chain Method
When salespeople ask previous customers for names of potential customers whom you might not have reached without a recommendation
48
Cold Canvassing
Potential customers are selected at random
49
Objection Analysis Sheet
A document that lists common objections and possible responses to them
50