Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
44 Cards in this Set
- Front
- Back
|
PROMOTIONAL MIX
|
A mixture of different types of promotion.
|
|
|
MEDIA
|
Method used to deliver advertising messages to the public, such as TV or radio.
|
|
|
REACH
|
The number of people who will see or hear an advertisement.
|
|
|
COST PER THOUSAND
|
Cost to reach one thousand people through a particular media. Typically abbreviated CPM.
|
|
|
ROTATION
|
A time period in which a business' advertisement is played one or more times each day.
|
|
|
STOREFRONT
|
The exterior of a store generally facing the street including singnage and windows.
|
|
|
AD DESIGN
|
The combination of content(offers) and artwork that makes an ad effective with customers.
|
|
|
SALES PROMOTION
|
A limited time offer that is used to persuade customers to shop at paticular store or buy a particular product.
|
|
|
LOSS LEADER
|
A product priced at or below cost in order to draw customers into a store. the intent is that customers will purchase other items that are priced to make a profit.
|
|
|
MARKET RESEARCH
|
The steps taken to collect marketing information required to make intelligent business decisions.
|
|
|
SURVEY
|
A series of questions asked to a selected group of people.
|
|
|
SEGMENT
|
A group of people sharing some common attribute, such as age or occupation.
|
|
|
SAMPLE SIZE
|
The number of people questioned in a survey. Increasing the sample size of a survey increases cost. Decreasing sample size too far reduces the accuracy of a survey.
|
|
|
PRIMARY DATA
|
Data collected for a specific purpose.
|
|
|
SECONDARY DATA
|
Data used for a current study but obtained for another purpose or brouht from another business.
|
|
|
MARKET
|
A group of similar people with the same type of product needs or wants who may potentially buy a certian good or service.
|
|
|
TARGETED MARKETING
|
Marketing that attemps to identify reach, and serve a particular sub-group of the entire market.
|
|
|
DIRECT MAIL
|
Advertising that is mailed to people's homes or workplaces. It is most often paper-based and may include specfic offers such as coupons.
|
|
|
MERCHANDISING SPACE
|
Part of the store assigned to products that are kept for selling.
|
|
|
Point-of-Purchase Display
|
Display found close to or at the register to promote impulse purchases.
|
|
|
IMPULSE PRODUCTS
|
Products that you do not specifically go to a store to buy, but may buy if you see them.
|
|
|
PRODUCTS OF NECESSITY
|
Products that you need and specifically go to a store to purchase.
|
|
|
COMPLEMENTARY ITEM
|
Products that are often consumed together. One of the products often enchances the other, such as salsa and chips.
|
|
|
RELATED MERCHANDISE DISPLAY
|
A display contaning complementary products.
|
|
|
INVENTORY
|
The total amount of goods a business has. These may be in a backroom or out on the sales floor. Sometimes referred to as stock.
|
|
|
PURCHASING POLICY
|
policy specifying the amount to purchase of a product and when to purchase it.
|
|
|
JUST IN TIME INVENTORY
|
A system, usually computerized, that links a store to suppliers so that new inventory can be purchased automatically as sales are made. Just in time inventory systems reduce the total amount of inventory a store must carry.
|
|
|
REORDER POINT
|
A number that indicates that new product should be purchased when inventory falls below a certain level.
|
|
|
SHRINKAGE
|
The money a business loses due to broken, damagee, expired, or stolen inventory.
|
|
|
TRADE CREDIT
|
This is credit offered to you by suppliers. The supplier's payment terms allow you to pay for the goods after you receive them
|
|
|
PAYMENT TERMS
|
A supplier's requirement on when to bee paid. These are typicaly expressed in an abbrevated fashion. For example, 2/10/N/30 means you will get a 2% discount if you pay in 10 days or you can pay the Net (N) amount in 30 days.
|
|
|
INTEREST RATE
|
The percentage of the loan amount that you must pay in interest each year ( e.g. 9% per year)
|
|
|
LIABILITY
|
The general term for any amount owed to some one else.
|
|
|
ACCOUNTS PAYABLE
|
The amount a business owes to its suppliers at any point in time. This is shown as a liability.
|
|
|
REVENUE
|
Revenue is the money you collect for thing you sell. Othr names for revenue include Sales and Dollar Sales. Revenue is equal to Unit Sales x Price of each unit.
|
|
|
INCOME STATEMENT
|
The income statement shows your revenue and expenses for a given period of time and the difference between them - your profit. This statement, also known as the P&L (Profit & Lost), is the most frequently used financial statment. It's your main scorecard over any period - a week, a quarter, a year. When business people refer to the "bottom line," they mean the bottom line of this statment, profit.
|
|
|
BALANCE SHEET
|
The balance sheet shows what you own (assets) and what you owe to others (liabilities). The difference, the worth of your company is called Equity. Your Assets always balance with your Liabilities Plus Equity.
|
|
|
SUPPLY
|
The amount of goods created by producers and offered for sale in a marketplace.
|
|
|
DEMAND
|
The amount of good customers want to buy.
|
|
|
EQUILIBRIUM
|
When two dynamic values become or stay equal to each other.
|
|
|
SHOPLIFTING
|
Taking items from a retail establishment without paying for them.
|
|
|
STOLEN GOODS
|
Products stolen by shoplifters. The value of these items is recorded on the Income Statement under Cost of Goods sold.
|
|
|
PHYSICAL INVENTORY
|
A count of all the items in a business. This is used to determine if items are missing as a result of shoplifing or other causes.
|
|
|
TURNAROUND
|
An attempt to make an unprofitable business profitable again.
|
