Deck 19 Flashcards
(50 cards)
Aptitude
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.
Balance Sheet
A summary of a business’s assets, liabilities,and owner’s equity.
Cold Canvassing
The process of locating as many potential customers as possible without checking out leads beforehand.
(Biz) Marquee
An architectural canopy that extends over a store’s entrance.
Memorandum Buying
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.
Rack Jobbers
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.
Service Close
A way to close a sale in which a salesperson explains services that overcome obstacles or problems.
Skimming Pricing
A pricing policy that sets a very high price for a new product.
Sole Proprietorship
A business owned and operated by one person.
Specialty Media
Relatively inexpensive, useful items featuring and advertiser’s name or logo that are given away; also known as giveaways or advertising specialties.
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.
Superior-Point Method
A selling technique that permits the salesperson to acknowledge objections as valid yet still offset them with other features and benefits.
Supervisor-Level Management
Managers who supervise the activities of employees who carry out the tasks determined by middle and top management.
Trial Close
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.
Unit Control
A method of stock control that measures the quantities of merchandise that a business handles during a period of time.
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.
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.
Which Close
A method of closing a sale that encourages a customer to make a decision between two items.
Whistle-Blowing
Reporting an illegal action by one’s employer.
