Deck 8 Flashcards Preview

50 Terms > Deck 8 > Flashcards

Flashcards in Deck 8 Deck (50):
1

Blister packs

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

2

aseptic packaging

a food storage process that keeps food fresh for up to 6 months

3

aptitude

an ability or natural talent

4

boomerang method

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

5

buying behavior

the process individuals use to decide waht they will buy

6

buying signals

the things customers do or say to indicate a readiness to buy

7

centralized buying

when u buy for a branch or a chain all at once

8

channels

the avenues through which messages are delivered

9

co-branding

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

10

cost per thousand

the media cost of exposing 1000 readers or viewers to an advertising impersion

11

demand elasticity

the degree to which demandfor a product is affected by its price

12

embargo

a total ban on specific goods coming into and leaving a country

13

equity

the concept of equal rights and opportunities for everyone

14

flextime

a program that allows workers to choose there own work time

15

horizontal organization

a structure where top management shares decision making

16

initiative

the process of taking action and doing what needs to be done without being asked

17

incentives

products earned or given away through contests

18

job lead

information about a job opening

19

just in time inventory system

an inventory system that controlls the flow of parts and material into assembly and manufacturing plants

20

kiosks

interactive point of purchase displays that are typicalls four feet high

21

layman's terms

words the average customer can understand

22

limited decision making

the process used when a person buys goods and services

23

limited liability

the personal assers of the owners cannot be taken if the company does not meet its fininacial obligations

24

limited liability company

a relativly new for of business orginization thatus hybrid of a partnership and corporation

25

limited partnership

a form of business organiztion in which each limited partner is kliable for any debts only up to the amount of his or her investment

26

memorandum buying

a buying process in which the supplier agrees to take back any unsold goods

27

nonverbal communication

expressing without words

28

objection analysis sheet

a document that lists common objections and possible responses

29

one price policy

all customers are charged the same price

30

observation method

a research technique that you record data by observing it

31

open ended questions

questions that require you to consturct your own answer

32

open to buy

the ammount of money left for buying goods

33

pull policy

a process that directs promotion towards consumers

34

push policy

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

35

primary data

data obtained for the first time and yused specifically for the particular problem or issue under study

36

performance bonds

a type of insueance that provides financial protection for loss

37

price bundling retaliating

two or more similar products packaged together

38

Dollar Control

The planning and monitoring of the total inventory investment that a business makes during a stated period of time

39

Emotional Motive

A feeling experienced by a customer through association with a product

40

Empowerment

Encouragement of team members to contribute and take responsibility for the management process

41

Freight Forwarders

Private companies that combine less than carload or truckload shipments from several businesses and deliver them to their destinations

42

Horizontal Organization

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

43

Law of Diminishing Marginal Utility

As economic law stating that consumers will buy only so much of a given product

44

Loss Leader

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

45

Memorandum Buying

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

46

PreRetailing

Marketing method when pricing information is marked in advance on the purchase order

47

Reverse Auction

Sale in which companies post what they want to buy and suppliers bid for contract

48

Agents

Intermediaries who bring buyers and sellers together and do not own the goods they sell

49

Blind Check Method

The receiver of a delivery writes the description of the merchandise, counts the quantities received, and lists them on a blank form or dummy invoice

50

Category Management

A process that involves managing product categories as individual business units