Deck 19 Flashcards Preview

50 Terms > Deck 19 > Flashcards

Flashcards in Deck 19 Deck (50):
1

Aptitude

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

2

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.

3

Balance Sheet

A summary of a business's assets, liabilities,and owner's equity.

4

Cold Canvassing

The process of locating as many potential customers as possible without checking out leads beforehand.

5

(Biz) Marquee

An architectural canopy that extends over a store's entrance.

6

Memorandum Buying

A buying process in which the supplier agrees to take back any unsold goods by a certain pre-established date.

7

Prestige (World-Wide) Pricing

A pricing technique that sets higher-than-average prices to suggest status and high quality to the consumer.

8

Rack Jobbers

Wholesalers that manage inventory and merchandising for retailers by counting stock, filling it in when needed, and maintaining store displays.

9

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.

10

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.

11

Service Close

A way to close a sale in which a salesperson explains services that overcome obstacles or problems.

12

Skimming Pricing

A pricing policy that sets a very high price for a new product.

13

Sole Proprietorship

A business owned and operated by one person.

14

Specialty Media

Relatively inexpensive, useful items featuring and advertiser's name or logo that are given away; also known as giveaways or advertising specialties.

15

Standing-Room-Only Close

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.

16

Superior-Point Method

A selling technique that permits the salesperson to acknowledge objections as valid yet still offset them with other features and benefits.

17

Supervisor-Level Management

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

18

Trial Close

An initial effort to close a sale.

19

Uniform Resource Locator

The address of a file that is available on the Internet, usually on the World Wide Web.

20

Unit Control

A method of stock control that measures the quantities of merchandise that a business handles during a period of time.

21

Unlimited Liability

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.

22

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.

23

Which Close

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

24

Whistle-Blowing

Reporting an illegal action by one's employer.

25

Wi-Fi

Wireless Fidelity

26

Business Risk

The possibility of financial lost.

27

Carload

The minimum number of pounds of freight needed to fill a boxcar.

28

Cause Packaging

Packaging that is used by companies to promote social and political cause.

29

Channels

The avenues through which messages are delivered.

30

Contract Carriers

For-hire trucking companies that provide equipment and drivers for specific routes.

31

Debt Capital

Borrowed funds that must be repaid.

32

Derived Demand

The demand for industrial goods based on the demand for consumers goods and services.

33

Drop Shippers

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

34

Empathy

An understanding of a person's situation or frame of mind.

35

Enumeration

Listing items in order.

36

E-Tailing

Retailers selling products over the Internet to the customer; also known as online retailing.

37

Fidelity Bonds

A type of insurance that protects a business from employee dishonesty.

38

Flextime

A program that allows workers to choose their work hours.

39

For-Profit Business

A business that seeks to make a profit from it operations.

40

Grade Label

A label that states the quality of the product.

41

Inflation

A period of rising prices.

42

Invoice

An itemized list of goods that include prices, terms of sale, total, taxes and fees, and amount due.

43

Jargon

Specialized vocabulary used by members of a particular group.

44

Job Lead

Information about a job opening.

45

Layman's Terms

Words the average customers can understand.

46

Lifestyle

The kind of life a person lives.

47

Numerators

The top number in a fraction; it represents the number of parts being considered.

48

Product Life Cycle

The stages that a product goes through during its life.

49

Prospect

A potential customer; also known as a lead.

50

Quota

A limit on either the quantity or monetary value of product that may be imported.