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26 > Skid Marx > Flashcards

Skid Marx Flashcards

1
Q

Basic Stock List

A

A List used for those staple items that should always be in stock

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2
Q

Brick and Mortar Retailers

A

Traditional retailers that sell goods to customers from physical stores, rather than over the Internet

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3
Q

Brand Mark

A

A unique symbol, coloring, lettering, or other design elements

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4
Q

boomerang method

A

A selling method that converts a customer’s objection into a selling point

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5
Q

collateral

A

Something of value that a person pledges as payment for a loan in case of defult

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6
Q

co-branding

A

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

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7
Q

cause packaging

A

Packaging that is used by companies to promote social and political causes

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8
Q

cycle counts

A

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

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9
Q

endless chain method

A

The process of asking previous customers for names of potential customers

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10
Q

e-tailing

A

Retailers selling products over the Internet to the customer also known as online retailing

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11
Q

domestic business

A

A business that sells its products only in its own country

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12
Q

intermediaries

A

Businesses involved in sales transactions that move products from the manufacturer to the final user

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13
Q

marquee

A

An architectural canopy that extends over a store’s entrance

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14
Q

memorandum buying

A

A buying process in which the supplier agrees to take back any unsold goods by a certain pre-established date

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15
Q

multinational

A

Large corporations that have operations in multiple countries

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16
Q

on-approval sale

A

An agreement permitting a customer to take merchandise (usually clothing) home for further consideration

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17
Q

objection analysis sheet

A

A document that lists common objections and possible responses to them

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18
Q

nonprice competition

A

Competition based on factors that are not related to price, such as product quality, service and financing , business location, and reputation

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19
Q

sole proprietership

A

A business owned and operated by one person

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20
Q

stockkeeping unit

A

A unit or a group of related items in a unit control inventory system; the smallest unit used in inventory control

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21
Q

third-party method

A

A selling method that involves using a previous customer or other neutral person who can give a testimonial about the product

22
Q

till

A

The cash drawer of a cash register

23
Q

secondary data

A

Data that has already been collected for some purpose other than the current study

24
Q

rack jobbers

A

Wholesalers that manage inventory and merchandising for retailers by counting stock, filling it in when needed and maintaining store displays

25
Q

triadic colors

A

Three colors that are equally spaced on the color wheel

26
Q

trial close

A

initial effort to close a sale

27
Q

unit control

A

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

28
Q

whistle-blowing

A

reporting an illegal action by one’s employer

29
Q

warranty of merchantability

A

the seller’s promise that the product sold is fit for its intended purpose

30
Q

universal product code

A

a combination bar code and number used to identify a product and manufactuer

31
Q

push policy

A

a manufacturer uses a mix of personal selling, advertising and buying discounts to promote a product to large retailers

32
Q

rack jobbers

A

Wholesalers that manage inventory and merchandising for retailers by counting stock, filling it in when needed and maintaining store displays

33
Q

spot check method

A

The reciever of a delivery conducts a check of one carton in a shipment to see if the kind and quantity of goods were delivered

34
Q

remedial action

A

using preventive discipline or corrective discipline to encourage appropriate workplace behavior

35
Q

skimming pricing

A

a pricing policy that sets a very high price for a new product

36
Q

six-month merchandising plan

A

The budget that estimates planned purchases for a six-month period

37
Q

situation analysis

A

The study of the internal and external factors that affect marketing strategies

38
Q

superior point method

A

a selling technique that permits that salesperson to awknowledge objections as valid yet still offset them with feature benefits

39
Q

terms for delivery

A

the final delivery arrangement between the buyer and seller

40
Q

30-day accounts

A

accounts that enable customers to charge purchases during a month and pay the balance in full within 30 days after they are billed

41
Q

ton-mile

A

The movement of one ton (2,000lbs) of freight one mile

42
Q

trade character

A

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

43
Q

staffing/temporary agencies

A

employment agencies that are not supported by taxes and must earn a profit to stay in business

44
Q

substitution method

A

a selling method that involves recommending a different product that would still satisfy the customer’s needs

45
Q

pre retailing

A

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

46
Q

product depth

A

the number of items offered within each product line

47
Q

penetration pricing

A

a pricing policy that sets the price of a new product very low

48
Q

perpetual inventory system

A

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

49
Q

point-of-sale system

A

combining a cash register with a computer making it possible to capture information about the transaction at the time of sale, then applying it to different functions

50
Q

demand elasticity

A

the degree to which demand for a product is affected by its price

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