Deck 5

Question 1

Demand Elasticity

Answer 1

Degree to demand for a product

Question 2

Assertiveness

Answer 2

Standing up for what you believe in

Question 3

Better Business Bureau

Answer 3

Oldest organization that establishes self regulation among businesses.

Question 4

Channel Distribution

Answer 4

Path a product takes from its producer or manufacturer to the final user

Question 5

Common Carriers

Answer 5

Trucking companies that provide transportation services to any business in their operating area for a fee

Question 6

Customer Relationship Management

Answer 6

Identifying and understanding customers to form a strong, long-lasting relationship

Question 7

Enterprise Resource Planning

Answer 7

Sophisticated software that integrates all parts of a company’s business management

Question 8

Equal Employment Opportunity Commission

Answer 8

Federal Agency responsible for the fair and equitable treatment of employees with regard to hiring,firing, and promotions

Question 9

Fidelity Bonds

Answer 9

Type of insurance that protects a business from employee dishonesty

Question 10

Horizontal Organization

Answer 10

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

Question 11

Hypertext Transfer Protocol

Answer 11

Global computer protocol useed to identify and locate web pages on the Internet

Question 12

Institutional Promotion

Answer 12

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

Question 13

Intensive Distribution

Answer 13

Sales involving the use of all suitable outlets to sell a product

Question 14

Kiosks

Answer 14

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.

Question 15

Limited Partnership

Answer 15

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.

Question 16

Maintained Markup

Answer 16

final difference between an item’s final sale price and its costs.

Question 17

Memorandum Buying

Answer 17

A buying process in which the supplier agrees to take back any unsold goods by a certain pre-established date.

Question 18

Occupational Safety and Health Administration

Answer 18

Federal agency that provides guidelines for workplace safety and enforces those regulations

Question 19

One-Price Policy

Answer 19

All customers are charged the same price for the goods and services offered for sale.

Question 20

Perpetual Inventory System

Answer 20

inventory system that tracks the number of items in inventory on a constant basis

Question 21

Point of Purchase Displays

Answer 21

A sales promotion device manufactured units with bold graphics and sinage that hold display or dispense products.

Question 22

Flextime

Answer 22

Program that allows workers to choose their work hours

Question 23

Storage

Answer 23

Marketing Function that refers to the holding of goods until they are sold

Question 24

validity

Answer 24

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

Question 25

Want Slips

Answer 25

customer requests for items that are not carried in the store

Question 26

Basic Stock List

Answer 26

List used for those staple items that should always be in stock

Question 27

Buying Signals

Answer 27

Things customers do or say to indicate a readiness to buy

Question 28

Co-Branding

Answer 28

Combination of one or more brands in the manufacture of a product or in the delivery of a service

Question 29

Consumer Product Safety Commission

Answer 29

Federal agency responsible for overseeing the safety of all products except food, drugs, cosmetics, medical devices, tobacco products,fireams and ammunition,motor vehicles pesticides,aircraft,boats, and fixed site amusement rides.

Question 30

Decentralized Buying

Answer 30

Local chain store managers or their designated buyers who are authorized to make special purchases for their individual stores.

Question 31

Derived Demand

Answer 31

Demand for industrial goods based on the demand for consumer goods based on the demand for consumer goods and services

Question 32

Environment Protection Agency

Answer 32

Federal agency that protects human health and our environment

Question 33

Federal Trade Commission

Answer 33

Federal agency responsible for enforcing the principles of a free enterprise system and protecting consumers from unfair or deceptive business practices.

Question 34

Flextime

Answer 34

Program that allows workers to choose their work hours

Question 35

Hypertext Markup Language

Answer 35

detailed code used to write up web pages

Question 36

Institutional Advertising

Answer 36

Process used to try to create a favorable image for a company and foster goodwill in the marketplace.

Question 37

Integrated Distribution

Answer 37

Distribution system in which manufactures act as a wholesaler and a retailer for their own products

Question 38

Intermediaries

Answer 38

Businesses in sales transactions that move products from the manufacturer to the final user; also known as middleman

Question 39

Insurance Policy

Answer 39

Contract between and an insurance company to cover a specific business risk

Question 40

Law of Diminishing Marginal Utility

Answer 40

An economic law stating tgat consumers will buy only so much of a given product,even though price is low

Question 41

Limited Warranty

Answer 41

Warranty that excludes certain parts of the product from coverage or requires the customer to bear some of the expense for repairs resulting from defects

Question 42

Marketing Information system

Answer 42

Set of procedures and methods that regularly generates stores,analyzes, and distributes information for use in making marketinf and other business decisions

Question 43

Maintained Markup

Answer 43

Difference between an item's final sale price and its cost

Question 44

Never-Out List

Answer 44

Inventory monitoring plan used for bestselling products that make up a large percentage of sales volume

Question 45

Occupational Information Network

Answer 45

Online database that includes information on skills, abilities,knowledge,work activities, and interest associated with occupations

Question 46

On-Approval Sale

Answer 46

agreement permitting a customer to take merchandise home for further consideration

Question 47

Opening Cash Fund

Answer 47

Limited amount of money for the cash register provided by the manager or other designated person at the beginning of each day.

Question 48

Physical Inventory System

Answer 48

Invetory system where every so often,stock is visually inspected or actually counted to determine the quantity on hand.

Question 49

Rational Motive

Answer 49

Conscious logical reason for a purchase

Question 50

Securities and Exchange Commission

Answer 50

Federal Agency that regulates sale of securities, licenses brokerage firms and financial advisers, and investigates dealings among corporations