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Funeral Merchandising > Merchandising > Flashcards

Flashcards in Merchandising Deck (47):
1

the purchasing, pricing, displaying, selling of merchandise

merchandising

2

good bought and sold such as caskets, vaults, clothing, urns, register books, etc.

merchandise

3

developing a merchandise plan; "sales objective"/"sales plan"; planning=profit

merchandise planning

4

steps in planning

evaluate the market, evaluate sales history, determine product availability, consider supplier recommendations, establish product and service mix

5

reduction of price for payment of an account within time limits established by sales contract

cash discount

6

reduction in amount of a bill when a minimum quantity of merchandise ahs been ordered

quantity discount

7

return of portion of a payment

rebate

8

supplier gives merchandise to an agent to be cared for/sold; payment is not made to supplier until merchandise is sold

consignment

9

pricing of services and merchandise

pricing

10

methods of determing merchandise prices

markup, consumer value index, merchandise value ratio, fixed multiple, graduated recovery

11

difference between merchandise (wholesale) cost and selling (retail) price; profit margin

markup

12

percentage derived by dividing whole sale cost by retail price; spending more money should provide more value for each dollar spent

consumer value index (CVI)

13

relationship between wholesale cost of merchandise and total cost of both service and merchandise to consumer

merchandise value ration (MVR)

14

staff services for obits, DC's, paperwork, etc.; overhead costs such as salaries, office suppliers, rent, maintenance, utilities, etc.; sum of these costs divided by number of services

service (fee) pricing

15

price determination method whereby casket cost is multiplied by a constant factor (number); advantage- easy to use and provide quality; disadvantage- no improvement in CVI, no incentive to buy up

fixed multiple

16

return of money produced by varying the amount expected on each selection; amount of markup (factor varies with cost of merchandise)

graduated recovery

17

graduated recovery types

increase, decrease, modify

18

sum of group of numbers divided by number of units

average; mean

19

value in an ordered set of values which represent the midpoint, where by they are an equal number of values above and below midpoint value

median

20

number that appears most frequently in a listing of its numbers

mode

21

division of total into 4 intervals, each one representing 1/4th of the total

quartile

22

number of times in a given price bracket occurs over a fixed period of time

sales frequency

23

method of price quotation by which each unit of service and merchandise is priced seperately; requirements of FTC

itemization

24

groups together selected services and merchandise; unit pricing, bi unit pricing, funcitonal pricing

package pricing

25

price quotation showing separately the price of the service and the price of casket

bi-unit pricing

26

itemization charges are combined into several component parts

functional pricing

27

historical method used prior to FTC regulations; price quotation which creates one total price package for both service and merchandise

unit pricing

28

any item of service/merchandise described to a purchaser as a "cash advance", "accommodation", "cash disbursement"/similar item; common to all forms of price quotation; item obtained from a 3rd party and paid for by funeral provider on purchasers behalf

cash advance

29

cash advacne items

cemetery/crematory services, pro. casket bearers, transportation, clergy honorarium, flowers, musicians/singers, nurses, obit notices, gratiuities, certified copies of DC's

30

merchandise presentation

FH, casket manufacturers selection room, catalog, computer, price lists

31

selection room size

40-60 square feet per casket

32

lighting

90-100 candles of illumination at casket level

33

amount of illumination produce by one candle ant a distance of one foot

foot candle

34

illumination directly shining on an object

direct lighting

35

reflected illumination of an object

indirect lighting

36

illumination produced by a tubular electric discharge lamp; flourescence of phosphors coating inside of a tube

flourescent

37

illumination resulting from the glowing of a heated filament

incandescent

38

distance from floor to bottom of casket

26-30 inches

39

wheeled collapsable support for the casket used in FH, church/ home

church truck

40

stand/support upon which a casket rests in the selection room; casket standard

casket stand

41

device upon which 2/3rd caskets are placed, one on top of the other for display

casket rack

42

method of selling caskets whereby the FD remains in selection room entire selection period

direct selection room procedure

43

advantages of direct selection room procedure

some families prefer the support

44

disadvantages of direct selection room procedure

no privacy and restricts communication; may influence/misrepresent needs of family

45

makes introductory presentation to family; leaves selection room; returns upon request

indirect selection room procedure

46

advantages of indirect selection room procedure

privacy; influence by FD eliminated; communication occurs; information may be better analyzed

47

disadvantages of indirect selection room procedure

no support; FD not available for questions; info may be ignored