Flashcards in Deck 9 Deck (50):
1
Focal Point
an area in a display that attracts attention first, above all else
2
Trade Character
a specific type of brand mark, one with human form or characteristics
3
Unit Control
a method of stock control that measures the quantities of merchandise that a business handles during a period of time
4
Whistle Blowing
reporting an illegal action by one's employer
5
Pre - Approach
the preparation for the face-to-face encounter with potential customers
6
Pre - Retailing
marketing method when pricing information is marked in advance on the purchase order
7
Penetrative Pricing
a pricing policythat sets the initial price for a new product very low
8
Perpetual Inventory System
an inventory system that tracks the number of items in inventory on a constant basis
9
Marquee
an architectual canopy that extends over a store's entrance
10
Networth
the differece between the assets of a business and its liabilities
11
On - Approval Sale
an agreementpermitting a customer to take merchandise home for further consideration
12
One Price Policy
all customers are charged the same price for the goods and services offered for sale
13
Open - To - Buy
the amount of money left for buying goods after all purchases recieved and on order have been considered
14
Job Lead
information about a job opening
15
Grade Label
a label that states the quantity of the product
16
Fidelity Bonds
a type of insurance that protects a business from employee dishonesty
17
Flextime
a program that allows workers to choose their work hours
18
Cycle Counts
a small portion of the inventory is physically counted each day by stockkeeping units so that the entire inventory is accounted for on a regular basis
19
Cover Letter
a letter written by an applicant to an employer decribing why that applicant is the best personto fill a specific job opening
20
Dollar Control
the planning and monitoring of the total inventory investment that a business makes during a stated period of time
21
Drop Shippers
businesses that own the goods they sell but do not physically handle the products
22
Endless Chain Method
the process of asking previous customers for names of potential customers
23
Blister Pack
packaging with preformed plastic molds surrounding individual items arranged on a cardboard backing
24
aseptic packaging
a food storage process that keeps food fresh for up to 6 months
25
aptitude
an ability or natural talent
26
boomerang method
a selling method that converts a customers objection into a selling point
27
buying behavior
the process individuals use to decide waht they will buy
28
buying signals
the things customers do or say to indicate a readiness to buy
29
centralized buying
when u buy for a branch or a chain all at once
30
channels
the avenues through which messages are delivered
31
co-branding
a comabination of one or more brands in the manufacture of a product or in the delivery of a service
32
cost per thousand
the media cost of exposing 1000 readers or viewers to an advertising impersion
33
demand elasticity
the degree to which demandfor a product is affected by its price
34
embargo
a total ban on specific goods coming into and leaving a country
35
horizontal organization
a structure where top management shares decision making
36
initiative
the process of taking action and doing what needs to be done without being asked
37
incentives
products earned or given away through contests
38
kiosks
interactive point of purchase displays that are typicalls four feet high
39
layman's terms
words the average customer can understand
40
limited decision making
the process used when a person buys goods and services
41
limited liability
the personal assers of the owners cannot be taken if the company does not meet its fininacial obligations
42
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
43
limited liability company
a relativly new for of business orginization thatus hybrid of a partnership and corporation
44
Bonded Warehouses
Public or private warehouses that store products requiring the payment of a federal tax
45
Category Management
A process that involves managing product categories as individual business units
46
Contract Carries
For-hire trucking companies that provide equipment and drivers for specified routes
47
Cost Plus Tracking
All costs and expenses are calculated, and the desired profit is added to arrive at a price
48
Decentralized Buying
Local chain store managers or their designated buyers who are authorized to make special purchases for their individual stores
49
Empowerment
Encouragement of team members to contribute and take responsibility for the management process
50