Deck 6 Flashcards
(50 cards)
Equity
The concept for equal rights and opportunities for evryone
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
Boomerang method
A selling method that converts a customers objection into a selling point
Trial Close
An initial effort to close a sale
Suggested Selling
A method of selling in which the salesperson recommends additional goods or services to the customer
On-Approval Sale
An agreement permitting a customer to take merchandise home for further consideration
Cash-on-Delivery
A transaction that occurs when a customer pays for merchandise at the time of delivery
Layaway
A sales method that keeps merchandise in storage until
Till
The cash drawer of a cash register
Free-on-Board
The price for goods includes delivery at the sellers expense to a specified point and no further
Invoice
an itemized list of goods that includes prices,terms of sales, total, taxes and fees, and amount due
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
Transit Advertising
Advertising found on public transportation
Drop Shippers
Businsses that own the goods they sell but do not physically handle the product
Wholesalers
Channel of distribtution that obtains goods from manufacturers and resels them to industrial users, other wholesalers, and retailers
Intermediaries
Businesses involved in sales transactions that move products from the manufacturer to the final user; also known as middlemen
Rack jobbers
Wholesalers that manage inventory and merchandising for retailers by counting stock, filling it in when needed, and maintaing store displays
Memorandum Buying
A buying process in which the supplier agrees to take back any unsold goods by a certain pre-established date
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
Just-in-time inventory system
An inventory system that controls the flow of parts and material into assembly and manufacturing plants
Perpetual inventory system
An inventory system that tracks the number of items in inventory on a constant basis
Real-time inventory system
An Internet tachnology that connects applications, data, and users in real time
Fidelity Bonds
A type of insurance that protects a business from employee dishonesty
Collateral
Something of value that a person pledges as payment for a loan in case of default
