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