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Funeral Merchandising > Merchandising > Flashcards

Merchandising Flashcards

1
Q

the purchasing, pricing, displaying, selling of merchandise

A

merchandising

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2
Q

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

A

merchandise

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3
Q

developing a merchandise plan; “sales objective”/”sales plan”; planning=profit

A

merchandise planning

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4
Q

steps in planning

A

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

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5
Q

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

A

cash discount

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6
Q

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

A

quantity discount

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7
Q

return of portion of a payment

A

rebate

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8
Q

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

A

consignment

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9
Q

pricing of services and merchandise

A

pricing

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10
Q

methods of determing merchandise prices

A

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

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11
Q

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

A

markup

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12
Q

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

A

consumer value index (CVI)

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13
Q

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

A

merchandise value ration (MVR)

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14
Q

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

A

service (fee) pricing

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15
Q

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

A

fixed multiple

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16
Q

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

A

graduated recovery

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17
Q

graduated recovery types

A

increase, decrease, modify

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18
Q

sum of group of numbers divided by number of units

A

average; mean

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19
Q

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

A

median

20
Q

number that appears most frequently in a listing of its numbers

A

mode

21
Q

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

A

quartile

22
Q

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

A

sales frequency

23
Q

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

A

itemization

24
Q

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

A

package pricing

25
Q

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

A

bi-unit pricing

26
Q

itemization charges are combined into several component parts

A

functional pricing

27
Q

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

A

unit pricing

28
Q

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

A

cash advance

29
Q

cash advacne items

A

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

30
Q

merchandise presentation

A

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

31
Q

selection room size

A

40-60 square feet per casket

32
Q

lighting

A

90-100 candles of illumination at casket level

33
Q

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

A

foot candle

34
Q

illumination directly shining on an object

A

direct lighting

35
Q

reflected illumination of an object

A

indirect lighting

36
Q

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

A

flourescent

37
Q

illumination resulting from the glowing of a heated filament

A

incandescent

38
Q

distance from floor to bottom of casket

A

26-30 inches

39
Q

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

A

church truck

40
Q

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

A

casket stand

41
Q

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

A

casket rack

42
Q

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

A

direct selection room procedure

43
Q

advantages of direct selection room procedure

A

some families prefer the support

44
Q

disadvantages of direct selection room procedure

A

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

45
Q

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

A

indirect selection room procedure

46
Q

advantages of indirect selection room procedure

A

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

47
Q

disadvantages of indirect selection room procedure

A

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

Funeral Merchandising (11 decks)

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