Deck 17 Flashcards Preview

50 Terms > Deck 17 > Flashcards

Flashcards in Deck 17 Deck (35):
1

Free Enterprise System

Encourages individuals to start and operate their own businesses in a competitive system

2

Trademark

Is a word name symbol or color that identifies a good or service that cannot be used by anyone but the owner

3

Copyright

Involves anything that is authorized by an individual such as writings music or artwork

4

Public Sector

Government financed agencies

5

Private Sector

Businesses not associated with government agencies

6

Wholesalers

Obtain goods from manufacturers and resell them to industrial users, other wholesalers, and retailers

7

Jargon

Specialized vocabulary used by members of a particular group

8

Enumeration

Listing items in order

9

Vertical Organization

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

10

Top Management

Those who make decisions that affect the whole company

11

Middle Management

Implements the decisions of top management

12

Supervisory - Level Management

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

13

Horizontal Organization

Top management shares decision making with self-managing teams of workers who set their own goals and make their own decisions

14

Empowerment

Encouraging team members to contribute to and take responsibility for the management process

15

Remedial Action

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

16

Exit Interview

An exit interview provides the opportunity for both the employee and manager to obtain valuable feedback

17

Personal Selling

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

18

Business - To - Business Selling

May take place in a manufacturer's or wholesaler's showroom or a customer's place of business

19

Consultative Selling

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

20

Rational Motive

A conscious, logical reason for a purchase

21

Emotion Motive

A feeling experienced by a customer through association with a product

22

Limited Decision Making

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

23

Routine Decision Making

Used when a person needs little information about a product

24

Pre - Approach

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

25

Prospect

A lead, or a potential customer

26

Endless Chain Method

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

27

Cold Canvassing

Potential customers are selected at random

28

Service Approach

The salesperson asks the customer if he or she needs assastance

29

Greeting Approach

The salesperson simply welcomes the customer to the store

30

Merchandise Approach

The salesperson makes a comment or asks questions about a product in which the customer shows interest

31

Objection Analysis Sheet

A document that lists common objections and possible responses to them

32

Substitution Method

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

33

Boomerang Method

Brings the objection back to the customer as a selling point

34

Superior - Point Method

Is a technique that permits the salesperson to acknowledge objections as valid yet still offset with other features and benefits

35

Third - Party Method

Involves using a previous customer or another neutral person who can give a testimonial about the product