Flashcards in Deck 4 Deck (50):
Selling method that converts a customers objection into a selling point.
An ability or natural talent the potential to learn a certain skill.
Brick and Mortar Retailers-
Traditional Retailers that sell goods to customers from physical stores, rather than over the Internet.
minimum number of pounds per freight.
Cash Flow Statement-
A monthly plan that tracks when a person anticipates that cash will come into their business and when they expect to pay out cash.
A process that involves managing product categories as individual business units.
Consumer Price Index-
change in price over a period of time of retail goods.
Consumer product Safety Commission
oversee the safety of goods and services.
The process of hiring a foreign manufacturer to make products according to certain specifications.
Store managers who are authorized to make special purchases.
direct check method
The merchandicse is checked directly against the actual invoice or purchase order.
statement that contains expectations to and exclusions from a warranty.
the planning and monitoring of the total inventory investment that a business makes during a period of time.
understanding of a persons situation or frame of mind.
the concept of equal rights and opportunities for everyone.
It keeps the merchandise in storage until the costomer pays it off.
a method of selling in which the salesperson recommends additional goods or services to the customer.
listing items in order.
factors of production
four categories; land, labor, capitol, and entrepreneurship.
something of value that a person pledges as payment for a loan in case of default.
something on display that that grabs your attention.
selling goods over the phone.
the cash drawer of a cash register.
program that involves working at home,usually on a computer, completed by email.
wholesale and retail buyers
buyers who purchase goods for resale
one price policy
All customers are charged the same price for the goods and services offered for sale.
making decisions about the features and services of a product or idea that will help sell that product.
Data obtained for the first time and used specifically for the particular problem or issue under study.
producer price index
Measurement of wholesale price levels in the economy.
A manufacturer uses a mix of personal selling, advertising, and buying discounts to promote a product to large retailers that sell its products.
The amount left after the total expenses are subtracted from gross profit.
the amount left after gross sales have been adjusted for returns and allowances.
the total of all sales for a given period of time.
the difference between sales revenue and the cost of goods sold.
specialized vocabulary used by memebers of a particular group.
a single exposure to an advertising message.
numbers used to describe or compare parts of a whole.
a statement that is accepted as true by most people.
the number of times an audience sees or hears an advertisement.
information about a job opening
exclusive control over a product or the means of producing it.
a whole number and a fraction written together.
the art of building business contracts and alliances.
a potential customer
a process that directs promotion towards consumers
physical container or wrapping for a product
a percentage fee placed by the government on the sale of goods and services.
beliefs that guide the way people live