Deck 9

Question 1

Focal Point

Answer 1

an area in a display that attracts attention first, above all else

Question 2

Trade Character

Answer 2

a specific type of brand mark, one with human form or characteristics

Question 3

Unit Control

Answer 3

a method of stock control that measures the quantities of merchandise that a business handles during a period of time

Question 4

Whistle Blowing

Answer 4

reporting an illegal action by one’s employer

Question 5

Pre - Approach

Answer 5

the preparation for the face-to-face encounter with potential customers

Question 6

Pre - Retailing

Answer 6

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

Question 7

Penetrative Pricing

Answer 7

a pricing policythat sets the initial price for a new product very low

Question 8

Perpetual Inventory System

Answer 8

an inventory system that tracks the number of items in inventory on a constant basis

Question 9

Marquee

Answer 9

an architectual canopy that extends over a store’s entrance

Question 10

Networth

Answer 10

the differece between the assets of a business and its liabilities

Question 11

On - Approval Sale

Answer 11

an agreementpermitting a customer to take merchandise home for further consideration

Question 12

One Price Policy

Answer 12

all customers are charged the same price for the goods and services offered for sale

Question 13

Open - To - Buy

Answer 13

the amount of money left for buying goods after all purchases recieved and on order have been considered

Question 14

Job Lead

Answer 14

information about a job opening

Question 15

Grade Label

Answer 15

a label that states the quantity of the product

Question 16

Fidelity Bonds

Answer 16

a type of insurance that protects a business from employee dishonesty

Question 17

Flextime

Answer 17

a program that allows workers to choose their work hours

Question 18

Cycle Counts

Answer 18

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

Question 19

Cover Letter

Answer 19

a letter written by an applicant to an employer decribing why that applicant is the best personto fill a specific job opening

Question 20

Dollar Control

Answer 20

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

Question 21

Drop Shippers

Answer 21

businesses that own the goods they sell but do not physically handle the products

Question 22

Endless Chain Method

Answer 22

the process of asking previous customers for names of potential customers

Question 23

Blister Pack

Answer 23

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

Question 24

aseptic packaging

Answer 24

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

Question 25

aptitude

Answer 25

an ability or natural talent

Question 26

boomerang method

Answer 26

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

Question 27

buying behavior

Answer 27

the process individuals use to decide waht they will buy

Question 28

buying signals

Answer 28

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

Question 29

centralized buying

Answer 29

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

Question 30

channels

Answer 30

the avenues through which messages are delivered

Question 31

co-branding

Answer 31

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

Question 32

cost per thousand

Answer 32

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

Question 33

demand elasticity

Answer 33

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

Question 34

embargo

Answer 34

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

Question 35

horizontal organization

Answer 35

a structure where top management shares decision making

Question 36

initiative

Answer 36

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

Question 37

incentives

Answer 37

products earned or given away through contests

Question 38

kiosks

Answer 38

interactive point of purchase displays that are typicalls four feet high

Question 39

layman's terms

Answer 39

words the average customer can understand

Question 40

limited decision making

Answer 40

the process used when a person buys goods and services

Question 41

limited liability

Answer 41

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

Question 42

limited partnership

Answer 42

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 43

limited liability company

Answer 43

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

Question 44

Bonded Warehouses

Answer 44

Public or private warehouses that store products requiring the payment of a federal tax

Question 45

Category Management

Answer 45

A process that involves managing product categories as individual business units

Question 46

Contract Carries

Answer 46

For-hire trucking companies that provide equipment and drivers for specified routes

Question 47

Cost Plus Tracking

Answer 47

All costs and expenses are calculated, and the desired profit is added to arrive at a price

Question 48

Decentralized Buying

Answer 48

Local chain store managers or their designated buyers who are authorized to make special purchases for their individual stores

Question 49

Empowerment

Answer 49

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

Question 50

Extensive Decision Making

Answer 50

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