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Definition
| Any form of direct contact occurring between a salesperson and a customer |
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Definition
| Matching the characteristics of a product to a customer's needs and wants |
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Definition
| A conscious, logical reason for a purchase |
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| Used when a person needs little information about a product that he or she is buying. High degree of prior experience with the product. |
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Definition
| Getting ready for the face-to-face encounter in a selling situation |
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Definition
| Lead or a potential customer |
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Definition
| Salesperson tries to locate as many potential customers as possible without checking out leads beforehand. |
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| The salesperson asks the customer if he or she needs assistance. |
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Definition
| The salesperson simply welcomes the customer to the store |
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Definition
| Salesperson makes a comment or asks questions about a product in which the customer shows interest. |
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| Brings the objection back to the customer as a selling point |
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Definition
| "Seeing is believing". Can be quite convincing and should be used when appropriate. |
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Definition
| Initial effort to close a sale. |
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Definition
| Used when a product is in short supply or when the price will be going up in the near future. |
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Definition
| Method in which you ask for the sale. |
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Definition
| Explains services that overcome obstacles or problems. |
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Definition
| Selling additional goods or services to the customer. |
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Definition
| Feeling experienced by a customer through association with a product. |
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Definition
| Restate the objections in a different way |
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Definition
| Things customers do or say to indicate a readiness to buy. |
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Definition
| Process of developing, promoting, and distributing products to satisfy customers' needs and wants. |
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Term
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Definition
| Kinds of things you can touch or hold in your hand. |
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Definition
| Kinds of things you can't physically touch. |
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Definition
| Changing raw materials or putting parts together to make them more useful. |
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Definition
| Having a product where customers can buy it. |
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Definition
| Having a product available at a certain time of year or a convenient time of day. |
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Definition
| Exchange of a product for some monetary value. |
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Definition
| Involves communication with the consumer. |
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Term
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Definition
| Those people who actually use the product. |
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Definition
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Definition
| States that businesses must satisfy customers' needs and wants in order to make a profit. |
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Definition
| Product, place, price, and promotion. |
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Term
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Definition
| Statistics that describe a population in terms of personal characteristics, like; education, age, gender, income and ethnicity. |
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Definition
| Left after taking out taxes. |
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Term
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Definition
| Left after paying for basic living necessities such as food, shelter, and clothing. |
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Definition
| Studies of consumers based on social and psychological characteristics, like; attitudes, income, hobbies, etc. |
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Definition
| Segmentation of the market based on where people live. |
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Definition
| Freedom to operate own business without government involvement. |
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Definition
| Focuses on the sale price. |
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Definition
| Exclusive control over a product or the means of producing it. |
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Term
| FOOD AND DRUG ADMINISTRATION (FDA) |
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Definition
| Bans the sale of impure, improperly labeled, falsely guaranteed, and unhealthful foods. |
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Term
| EQUAL EMPLOYMENT OPPORTUNITY COMMISSION(EEOC) |
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Definition
| Bans discrimination against employees based on age, race, color, national origin, religion, or gender. |
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Term
| OCCUPATIONAL SAFETY AND HEALTH ADMINISTRATION (OSHA) |
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Definition
| Workplace safety and health |
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Term
| CONSUMER PRODUCT SAFETY COMMISSION (CPSC) |
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Definition
| Rules on products that are unsafe. |
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Definition
| Prohibits price discrimination. |
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Definition
| Refers to consumer willingness and ability to buy products. |
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Definition
| Amount of goods producers are willing to make and sell. |
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Definition
| Goods occur when supply exceeds demand. |
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Definition
| When supply and demand are balanced. |
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Definition
| Difference between wants and needs and available resources. |
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Term
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Definition
| Technical or specialized vocabulary used by members of a particular profession or industry. |
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Definition
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Term
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Definition
| Free. Involves placing positive and newsworthy information about a business. |
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Term
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Definition
| Low-cost items given to consumers at a discount for free. |
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Term
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Definition
| Higher-priced products earned and given through contests, sweepstakes, and rebates. |
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Term
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Definition
| All the businesses involved in sales transactions that move products from the manufacturer to the final user. |
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Term
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Definition
| Number of different product lines a business manufactures. |
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Term
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Definition
| Refers to the number of products items offered within each product line. |
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Term
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Definition
| Name, term, design or symbol that identifies a business or organization. |
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Definition
| Symbol or design of the business. |
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Term
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Definition
| A way of analyzing a market by specific characteristics in order to create a target market. |
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