Deck 6 Flashcards Preview

50 Terms > Deck 6 > Flashcards

Flashcards in Deck 6 Deck (50):
1

Equity

The concept for equal rights and opportunities for evryone

2

Merchandise Approach

A way to approach a customer that focuses on making a comment or asking questions about a product in which the customer shows interest

3

Boomerang method

A selling method that converts a customers objection into a selling point

4

Trial Close

An initial effort to close a sale

5

Suggested Selling

A method of selling in which the salesperson recommends additional goods or services to the customer

6

On-Approval Sale

An agreement permitting a customer to take merchandise home for further consideration

7

Cash-on-Delivery

A transaction that occurs when a customer pays for merchandise at the time of delivery

8

Layaway

A sales method that keeps merchandise in storage until

9

Till

The cash drawer of a cash register

10

Free-on-Board

The price for goods includes delivery at the sellers expense to a specified point and no further

11

Invoice

an itemized list of goods that includes prices,terms of sales, total, taxes and fees, and amount due

12

Push policy

A manufacturer uses a mix of personal selling, advertising, and buying discounts to promote a product to large retailers that sell its product

13

Transit Advertising

Advertising found on public transportation

14

Drop Shippers

Businsses that own the goods they sell but do not physically handle the product

15

Wholesalers

Channel of distribtution that obtains goods from manufacturers and resels them to industrial users, other wholesalers, and retailers

16

Intermediaries

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

17

Rack jobbers

Wholesalers that manage inventory and merchandising for retailers by counting stock, filling it in when needed, and maintaing store displays

18

Memorandum Buying

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

19

Spot Check Method

The reciever of a delivery conducts a check of one carton in a shipment to see if the right kind and quantity of goods were delivered

20

Just-in-time inventory system

An inventory system that controls the flow of parts and material into assembly and manufacturing plants

21

Perpetual inventory system

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

22

Real-time inventory system

An Internet tachnology that connects applications, data, and users in real time

23

Fidelity Bonds

A type of insurance that protects a business from employee dishonesty

24

Collateral

Something of value that a person pledges as payment for a loan in case of default

25

Net worth

The difference between the assets of a business and its laibilities

26

Principle

Money that is borrowed sometimes to start a business

27

Disclaimer

A statement that contains exceptions to and exclusions from a warranty

28

Planogram

A computer-developed diagram that shows retailers how and where products within a category should be displayed on a shelf at individual stores

29

Aseptic packaging

A foood storage process that keeps foods fresh without refrigertation up to six months

30

Credit

The opportunity for businesses or individuals to obtain products or money in exchange for a promise to pay later

31

DBA

The registration by which a country government officially recognizes that a new propreitorship or partnership exists

32

Laymans terms

Words the average customer can understand

33

Empathy

An understanding of a persons situation or frame of mind

34

Ton-mile

The movement of one ton of freight one mile

35

Trial close

An initial effort to close a sale

36

Uniform resources locator

The address of a file that is available on the Internet, usually on the World Wide Web

37

Open-to-buy

The amount of money left for buying goods after all purchases received and on order have been considerded

38

Consignment buying

Paying for goods only after the final customer purchases them

39

Marquee

An architectual canopy tht extends over a stores entrance

40

Loss leader

An item priced at or below cost to draw customers into a store

41

Ad layout

A sketch that shows the general arrangement and appearance of a finished ad

42

Assertiveness

Standing up for what you believe in

43

Blisterpack

Packaging with preformed plastic molds surrounding individual items arranged on a cardboard backing

44

Brand label

Label giving the brand name, trademark, or logo

45

Carload

The minimum number of pounds of freight needed to fill a boxcar

46

Channels

The avenues through which messages are delivered

47

Cross-training

A process that prepares a team member to do many different activities

48

EDLP

Consistantly low prices with no intention of raising them or offfering discounts in the future

49

Debt Capital

Borrowed funds that must be repaid

50

HTML

A detailed code used to write Web pages