Deck 9 Flashcards Preview

50 Terms > Deck 9 > Flashcards

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

Extensive Decision Making

The process used when there has been little or no previous experience with an item