Deck 4 Flashcards
(50 cards)
Boomerang method-
Selling method that converts a customers objection into a selling point.
Aptitude-
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.
Carload-
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.
Category Management-
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.
contract manufacturing
The process of hiring a foreign manufacturer to make products according to certain specifications.
decentralized buying
Store managers who are authorized to make special purchases.
direct check method
The merchandicse is checked directly against the actual invoice or purchase order.
disclaimer
statement that contains expectations to and exclusions from a warranty.
dollar control
the planning and monitoring of the total inventory investment that a business makes during a period of time.
empathy
understanding of a persons situation or frame of mind.
Equity
the concept of equal rights and opportunities for everyone.
layaway
It keeps the merchandise in storage until the costomer pays it off.
FOB
an orgainizaton
suggestion selling
a method of selling in which the salesperson recommends additional goods or services to the customer.
enumeration
listing items in order.
factors of production
four categories; land, labor, capitol, and entrepreneurship.
collateral
something of value that a person pledges as payment for a loan in case of default.
focal point
something on display that that grabs your attention.
telemarketing
selling goods over the phone.
till
the cash drawer of a cash register.
