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