Deck 16 Flashcards Preview

50 Terms > Deck 16 > Flashcards

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

Substitution Method

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