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28 Cards in this Set
- Front
- Back
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BUSINESS BUYING PROCESS |
Procedures to purchase a product. |
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NEW TASK PURCHASE |
Process when they are purchasing a product. |
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MODIFIED REBUY |
A business purchases a new or modified program from established suppliers. |
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STRAIGHT REBUY |
When purchase decisions are low risk and can be made without modifications. |
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LIST PRICE |
Initial price. |
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DISCOUNTS |
Reductions from a list price. |
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TRADE DISCOUNT |
Reduction for wholesalers an retailers. |
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QUANTITY DISCOUNT |
Reductions offered or customers who buy large quantities. |
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SEASONAL DISCOUNT |
Reduction offered for ordering before or after the normal season. |
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CASH DISCOUNT |
Reduction given for paying by a certain date. |
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SELLING PRICE |
Actual price. |
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COST OF GOODS SOLD |
Cost to produce the product or buy it for resale. |
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OPERATING EXPENSES |
Costs of operating a business. |
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MARGIN |
Difference between the selling price and costs g goods sold. |
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NET PROFIT |
Difference between the selling price and all costs and expenses of the business. |
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MARKUP |
Is the amount added to the cost of goods sold to determine the selling price. |
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MARKDOWN |
Is the amount by which the original selling price is reduced. |
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Advertising
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is any form of paid promotion that delivers a message to many people at the same time. |
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Advertising media |
are methods of delivering the promotional message to the intended audience. |
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Full disclosure |
is providing all information necessary for consumers to make an informed decision. |
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Substantiation |
is be able to prove all claims mak about their products and services in promotion. |
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Cease-and-desist order |
which requires the company to immediately stop using specific advertisements or practices. |
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Corrective advertising |
is a new advertising designed to change false impression left by the misleading information. |
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Personal selling |
is promotion through direct, personal contact with a customer. |
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Buying motives |
the reasons people to buy. |
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Objections |
concerns or complains expressed by a potential customer. |
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Sales promotions |
any promotional activities other than advertising and personal selling intended to motivate customers to buy. |
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Self-service merchandising |
Customers select the products they want to purchase, take them to the checkout counter, and pay for them without much assistance from salespeople. |
