Deck 5 Flashcards
(50 cards)
Demand Elasticity
Degree to demand for a product
Assertiveness
Standing up for what you believe in
Better Business Bureau
Oldest organization that establishes self regulation among businesses.
Channel Distribution
Path a product takes from its producer or manufacturer to the final user
Common Carriers
Trucking companies that provide transportation services to any business in their operating area for a fee
Customer Relationship Management
Identifying and understanding customers to form a strong, long-lasting relationship
Enterprise Resource Planning
Sophisticated software that integrates all parts of a company’s business management
Equal Employment Opportunity Commission
Federal Agency responsible for the fair and equitable treatment of employees with regard to hiring,firing, and promotions
Fidelity Bonds
Type of insurance that protects a business from employee dishonesty
Horizontal Organization
Structure where top management shares decision making with self-managing teams of workers who set their own goals and make their own decisions
Hypertext Transfer Protocol
Global computer protocol useed to identify and locate web pages on the Internet
Institutional Promotion
promotion method used to create a favorable image for a business, help it advocate for change, or take a stand on trade or community issues
Intensive Distribution
Sales involving the use of all suitable outlets to sell a product
Kiosks
Interactive point-of-purchase displays that are typically four feet high, have pedestal-mounted high-tech screens, and take up only a few square feet of floor space.
Limited Partnership
form of business organization in which each limited partner is liable for any debts only up to the amount of his or her investment in the company. Business’s general partner is liable for all debts.
Maintained Markup
final difference between an item’s final sale price and its costs.
Memorandum Buying
A buying process in which the supplier agrees to take back any unsold goods by a certain pre-established date.
Occupational Safety and Health Administration
Federal agency that provides guidelines for workplace safety and enforces those regulations
One-Price Policy
All customers are charged the same price for the goods and services offered for sale.
Perpetual Inventory System
inventory system that tracks the number of items in inventory on a constant basis
Point of Purchase Displays
A sales promotion device manufactured units with bold graphics and sinage that hold display or dispense products.
Flextime
Program that allows workers to choose their work hours
Storage
Marketing Function that refers to the holding of goods until they are sold
validity
When questions asked by a questionnaire measure what was intended to be measured