Deck 24 Flashcards Preview

50 Terms > Deck 24 > Flashcards

Flashcards in Deck 24 Deck (50):
1

Nonprice Competetion

Competetion based on factors that are not related to price, such as product qualtiy service and financin business location and reputation

2

Price Competetion

The sale price of a product the assumption is that consumers will buy the product with lowest price

3

Ad council

Nonprofit orginization that helps produce public service advertising campagins for government agencies and other qualified sponsors

4

Adjacent colors

Colors that are located next to each other in the color wheel and share the same undertones also known as analogous colors.

5

Asserts

Anything of monetary value that a person owns such as cash checking and savings accounts, real estate or stocks.

6

Aseptic Packaging

A food storage process that keeps foods fresh without refrigeration for up to six months

7

Boomerang Method

A selling method that converts a customers objection into a selling point

8

Blisterpack

Packaging with preformed plastic molds surrounding individual items arranged on a carboard backing

9

Blind check method

Receiver of a delivery writes the description of the merchandise counts the quantities received and lists them on a blank form or dummy invoice.

10

Brick and Mortar Retailers

Traditional retailers that sell goods to customer from physical stores, rather than over the internet

11

Broadcast Media

Radio and Television

12

Carload

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

13

Cash on delivery sale

a transaction that occurs when a customer pays for merchandise at the time of delivery

14

Cause Packaging

Packaging that is used by companies to promote social and political causes

15

Free Enterprise System

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

16

Copyright

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

17

Public Sector

Government financed agencies

18

Wholesalers

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

19

Jargon

Specialized vocabulary used by members of a particular group

20

Enumeration

Listing items in order

21

Top Management

Those who make decisions that affect the whole company

22

Middle Management

Implements the decisions of top management

23

Horizontal Organization

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

24

Empowerment

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

25

Remedial Action

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

26

Exit Interview

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

27

Personal Selling

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

28

Business - To - Business Selling

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

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Rational Motive

A conscious, logical reason for a purchase

30

Emotion Motive

A feeling experienced by a customer through association with a product

31

Limited Decision Making

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

32

Routine Decision Making

Used when a person needs little information about a product

33

Pre - Approach

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

34

Cold Canvassing

Potential customers are selected at random

35

Greeting Approach

The salesperson simply welcomes the customer to the store

36

Merchandise Approach

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

37

Objection Analysis Sheet

A document that lists common objections and possible responses to them

38

Substitution Method

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

39

Superior - Point Method

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

40

Third - Party Method

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

41

Till

the cash drawer of a cash register

42

push policy

manufacture uses a mix of personal selling advertising and buying discounts to promote a product to large retailer that sell its products

43

Secondary Data

Data that has already been collected for some purpose other than the current study `

44

Unlimited Liability

owners financial liability is not limited to investments in the business but extends to his or hers total ability to make payments.

45

triadic colors

three colors that are equally spaced on the color wheel

46

Rack Jobbers

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

47

Specific Goal

Goal stated exact terms and includes some details

48

Ton mile

Movements of one ton of freight one mile

49

Validity

When questions asked on a questionnaire measure what was intended to be measured

50

Unit Control

Method of stock control that measures the quantities of merchandise that a business handles during a period of time