Flashcards in Deck 19 Deck (50):
An ability or natural talent; the potential to learn a certain skill.
Articles of Incorporation
A document filed with a state department of commerce that identifies the name and address of a new corporation , its purpose, the names of the initial directors, and the amount of stock that will be issued to each director.
A summary of a business's assets, liabilities,and owner's equity.
The process of locating as many potential customers as possible without checking out leads beforehand.
An architectural canopy that extends over a store's entrance.
A buying process in which the supplier agrees to take back any unsold goods by a certain pre-established date.
Prestige (World-Wide) Pricing
A pricing technique that sets higher-than-average prices to suggest status and high quality to the consumer.
Wholesalers that manage inventory and merchandising for retailers by counting stock, filling it in when needed, and maintaining store displays.
Securities and Exchange Commission
Federal agency that regulates the sale of security (stocks and bonds), licensing brokerage firms and financial advisers, and investigates dealing among corporations.
Segmented Pricing Strategy
A pricing strategy that uses two or more different prices for a product, even though there is no difference in the item's cost.
A way to close a sale in which a salesperson explains services that overcome obstacles or problems.
A pricing policy that sets a very high price for a new product.
A business owned and operated by one person.
Relatively inexpensive, useful items featuring and advertiser's name or logo that are given away; also known as giveaways or advertising specialties.
A method of closing a sale that is used when a product is in short supply or when the price will be going up in the near future.
A selling technique that permits the salesperson to acknowledge objections as valid yet still offset them with other features and benefits.
Managers who supervise the activities of employees who carry out the tasks determined by middle and top management.
An initial effort to close a sale.
Uniform Resource Locator
The address of a file that is available on the Internet, usually on the World Wide Web.
A method of stock control that measures the quantities of merchandise that a business handles during a period of time.
A business owner's financial liability is not limited to investments in the business, but extends to his or her total ability to make payments.
Warranty of Fitness for a Particular Purpose
A warranty used when the seller advises a customer that a product is suitable for a particular use, and the customer acts on that advice.
A method of closing a sale that encourages a customer to make a decision between two items.
Reporting an illegal action by one's employer.
The possibility of financial lost.
The minimum number of pounds of freight needed to fill a boxcar.
Packaging that is used by companies to promote social and political cause.
The avenues through which messages are delivered.
For-hire trucking companies that provide equipment and drivers for specific routes.
Borrowed funds that must be repaid.
The demand for industrial goods based on the demand for consumers goods and services.
Businesses that own goods they sell but do not physically handle the products.
An understanding of a person's situation or frame of mind.
Listing items in order.
Retailers selling products over the Internet to the customer; also known as online retailing.
A type of insurance that protects a business from employee dishonesty.
A program that allows workers to choose their work hours.
A business that seeks to make a profit from it operations.
A label that states the quality of the product.
A period of rising prices.
An itemized list of goods that include prices, terms of sale, total, taxes and fees, and amount due.
Specialized vocabulary used by members of a particular group.
Information about a job opening.
Words the average customers can understand.
The kind of life a person lives.
The top number in a fraction; it represents the number of parts being considered.
Product Life Cycle
The stages that a product goes through during its life.
A potential customer; also known as a lead.