Deck 8

Question 1

Blister packs

Answer 1

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

Question 2

aseptic packaging

Answer 2

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

Question 3

aptitude

Answer 3

an ability or natural talent

Question 4

boomerang method

Answer 4

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

Question 5

buying behavior

Answer 5

the process individuals use to decide waht they will buy

Question 6

buying signals

Answer 6

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

Question 7

centralized buying

Answer 7

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

Question 8

channels

Answer 8

the avenues through which messages are delivered

Question 9

co-branding

Answer 9

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

Question 10

cost per thousand

Answer 10

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

Question 11

demand elasticity

Answer 11

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

Question 12

embargo

Answer 12

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

Question 13

equity

Answer 13

the concept of equal rights and opportunities for everyone

Question 14

flextime

Answer 14

a program that allows workers to choose there own work time

Question 15

horizontal organization

Answer 15

a structure where top management shares decision making

Question 16

initiative

Answer 16

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

Question 17

incentives

Answer 17

products earned or given away through contests

Question 18

job lead

Answer 18

information about a job opening

Question 19

just in time inventory system

Answer 19

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

Question 20

kiosks

Answer 20

interactive point of purchase displays that are typicalls four feet high

Question 21

layman’s terms

Answer 21

words the average customer can understand

Question 22

limited decision making

Answer 22

the process used when a person buys goods and services

Question 23

limited liability

Answer 23

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

Question 24

limited liability company

Answer 24

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

Question 25

limited partnership

Answer 25

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

Question 26

memorandum buying

Answer 26

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

Question 27

nonverbal communication

Answer 27

expressing without words

Question 28

objection analysis sheet

Answer 28

a document that lists common objections and possible responses

Question 29

one price policy

Answer 29

all customers are charged the same price

Question 30

observation method

Answer 30

a research technique that you record data by observing it

Question 31

open ended questions

Answer 31

questions that require you to consturct your own answer

Question 32

open to buy

Answer 32

the ammount of money left for buying goods

Question 33

pull policy

Answer 33

a process that directs promotion towards consumers

Question 34

push policy

Answer 34

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

Question 35

primary data

Answer 35

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

Question 36

performance bonds

Answer 36

a type of insueance that provides financial protection for loss

Question 37

price bundling retaliating

Answer 37

two or more similar products packaged together

Question 38

Dollar Control

Answer 38

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

Question 39

Emotional Motive

Answer 39

A feeling experienced by a customer through association with a product

Question 40

Empowerment

Answer 40

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

Question 41

Freight Forwarders

Answer 41

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

Question 42

Horizontal Organization

Answer 42

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

Question 43

Law of Diminishing Marginal Utility

Answer 43

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

Question 44

Loss Leader

Answer 44

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

Question 45

Memorandum Buying

Answer 45

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

Question 46

PreRetailing

Answer 46

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

Question 47

Reverse Auction

Answer 47

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

Question 48

Agents

Answer 48

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

Question 49

Blind Check Method

Answer 49

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

Question 50

Category Management

Answer 50

A process that involves managing product categories as individual business units