Flashcards in Deck 4 Deck (50):
1
Boomerang method-
Selling method that converts a customers objection into a selling point.
2
Aptitude-
An ability or natural talent the potential to learn a certain skill.
3
Brick and Mortar Retailers-
Traditional Retailers that sell goods to customers from physical stores, rather than over the Internet.
4
Carload-
minimum number of pounds per freight.
5
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.
6
Category Management-
A process that involves managing product categories as individual business units.
7
Consumer Price Index-
change in price over a period of time of retail goods.
8
Consumer product Safety Commission
oversee the safety of goods and services.
9
contract manufacturing
The process of hiring a foreign manufacturer to make products according to certain specifications.
10
decentralized buying
Store managers who are authorized to make special purchases.
11
direct check method
The merchandicse is checked directly against the actual invoice or purchase order.
12
disclaimer
statement that contains expectations to and exclusions from a warranty.
13
dollar control
the planning and monitoring of the total inventory investment that a business makes during a period of time.
14
empathy
understanding of a persons situation or frame of mind.
15
Equity
the concept of equal rights and opportunities for everyone.
16
layaway
It keeps the merchandise in storage until the costomer pays it off.
17
FOB
an orgainizaton
18
suggestion selling
a method of selling in which the salesperson recommends additional goods or services to the customer.
19
enumeration
listing items in order.
20
factors of production
four categories; land, labor, capitol, and entrepreneurship.
21
collateral
something of value that a person pledges as payment for a loan in case of default.
22
focal point
something on display that that grabs your attention.
23
telemarketing
selling goods over the phone.
24
till
the cash drawer of a cash register.
25
telecommunicating
program that involves working at home,usually on a computer, completed by email.
26
wholesale and retail buyers
buyers who purchase goods for resale
27
one price policy
All customers are charged the same price for the goods and services offered for sale.
28
product planning
making decisions about the features and services of a product or idea that will help sell that product.
29
primary data
Data obtained for the first time and used specifically for the particular problem or issue under study.
30
producer price index
Measurement of wholesale price levels in the economy.
31
push policy
A manufacturer uses a mix of personal selling, advertising, and buying discounts to promote a product to large retailers that sell its products.
32
net income
The amount left after the total expenses are subtracted from gross profit.
33
net sales
the amount left after gross sales have been adjusted for returns and allowances.
34
gross sales
the total of all sales for a given period of time.
35
gross profit
the difference between sales revenue and the cost of goods sold.
36
jargon
specialized vocabulary used by memebers of a particular group.
37
impression
a single exposure to an advertising message.
38
fractions
numbers used to describe or compare parts of a whole.
39
generalization
a statement that is accepted as true by most people.
40
frequency
the number of times an audience sees or hears an advertisement.
41
job lead
information about a job opening
42
monopoly
exclusive control over a product or the means of producing it.
43
mixed number
a whole number and a fraction written together.
44
networking
the art of building business contracts and alliances.
45
prospect
a potential customer
46
pull policy
a process that directs promotion towards consumers
47
package
physical container or wrapping for a product
48
sales tax
a percentage fee placed by the government on the sale of goods and services.
49
values
beliefs that guide the way people live
50