VBM Retailing Vocabulary Flashcards

Data

Facts collected for the first time for the problem under study.

<p>A series of questions asked to a select and representative group of people to obtain quantitative data.</p> Signup and view all the answers

<p>An information-gathering technique that involves watching people.</p> Signup and view all the answers

<p>A small group of 8-15 people providing qualitative data.</p> Signup and view all the answers

<p>The number of people questioned for a survey.</p> Signup and view all the answers

<p>Facts collected previously for a purpose other than the problem being studied.</p> Signup and view all the answers

<p>Research used to discover consumer information.</p> Signup and view all the answers

<p>Research that answers questions about quantities and amounts.</p> Signup and view all the answers

<p>Other businesses trying to attract the same customers.</p> Signup and view all the answers

<p>A selling approach where the salesperson determines customer needs.</p> Signup and view all the answers

<p>The speed with which products are used up.</p> Signup and view all the answers

<p>The ease with which products can be sold.</p> Signup and view all the answers

<p>The products or goods that a retail store has for sale.</p> Signup and view all the answers

<p>Product that has a limited shelf life.</p> Signup and view all the answers

<p>The typical selling prices at which goods are sold.</p> Signup and view all the answers

<p>The amount of money that can be made from sales.</p> Signup and view all the answers

<p>Goods whose sales fluctuate according to the time of year.</p> Signup and view all the answers

<p>A group of retail businesses located together.</p> Signup and view all the answers

<p>An enclosed area containing many stores.</p> Signup and view all the answers

<p>A neighborhood space composed of separate stores connected by sidewalks.</p> Signup and view all the answers

<p>An unenclosed shopping area evolved with a variety of stores.</p> Signup and view all the answers

<p>A store that is unattached to other stores.</p> Signup and view all the answers

<p>A business's geographic surroundings providing customers.</p> Signup and view all the answers

<p>The number of people who go by a store location.</p> Signup and view all the answers

<p>One that sells the same or comparable merchandise.</p> Signup and view all the answers

<p>One that sells related merchandise.</p> Signup and view all the answers

<p>A contract for use of a property for a specified time.</p> Signup and view all the answers

<p>A lease that charges a specific amount of rent each month.</p> Signup and view all the answers

<p>A lease that bases rent on the percentage of sales.</p> Signup and view all the answers

<p>A lease that charges rent plus operating costs.</p> Signup and view all the answers

<p>The amount of money charged for items.</p> Signup and view all the answers

<p>The amount the store pays to purchase merchandise.</p> Signup and view all the answers

<p>The total revenue less all expenses.</p> Signup and view all the answers

<p>The difference between retail price and cost.</p> Signup and view all the answers

<p>The relationship between product availability and consumer willingness.</p> Signup and view all the answers

<p>The percentage of total sales a store has in its area.</p> Signup and view all the answers

<p>Reduction in price to increase sales of underperforming products.</p> Signup and view all the answers

<p>The positive communication a business has with customers.</p> Signup and view all the answers

<p>Promotion of a store's merchandise.</p> Signup and view all the answers

<p>Promotion meant to heighten a store's image.</p> Signup and view all the answers

<p>Promotion involving paid sales associates interacting with customers.</p> Signup and view all the answers

<p>Activities meant to encourage customers to make purchases.</p> Signup and view all the answers

<p>Communication to customers paid for by a business.</p> Signup and view all the answers

<p>An insert into a magazine or newspaper that contains product offers.</p> Signup and view all the answers

<p>Unpaid references to a business to further a positive impression.</p> Signup and view all the answers

<p>A form of public relations that highlights newsworthy aspects of a business.</p> Signup and view all the answers

<p>The combination of the types of promotion a business uses.</p> Signup and view all the answers

<p>An agency that enforces advertising laws to protect consumers.</p> Signup and view all the answers

<p>An order forcing advertisers to stop false advertising.</p> Signup and view all the answers

<p>Advertising a product at a low price but offering a more expensive item.</p> Signup and view all the answers

<p>A set of email addresses of potential customers.</p> Signup and view all the answers

<p>An email that cannot be delivered.</p> Signup and view all the answers

<p>Any email that a recipient does not wish to receive.</p> Signup and view all the answers

<p>The expense of developing an email list divided by the number of opens.</p> Signup and view all the answers

<p>A federal law regulating mass commercial emails.</p> Signup and view all the answers

<p>The effectiveness measured by the number of responses divided by emails sent.</p> Signup and view all the answers

<p>The part visible before opening the message.</p> Signup and view all the answers

<p>Any program that builds and maintains repeat customers.</p> Signup and view all the answers

<p>The assignment of workers to jobs within a business.</p> Signup and view all the answers

<p>The number of workers assigned at a particular time.</p> Signup and view all the answers

<p>Not enough staff to handle customers.</p> Signup and view all the answers

<p>Too many staff members for the customer traffic.</p> Signup and view all the answers

<p>Payments made to employees for their work hours.</p> Signup and view all the answers

<p>The person responsible for purchasing merchandise for a store.</p> Signup and view all the answers

<p>The amount of money available for purchasing items.</p> Signup and view all the answers

<p>A business from which a buyer purchases merchandise.</p> Signup and view all the answers

<p>The total amount of goods a business has.</p> Signup and view all the answers

<p>Another term for inventory.</p> Signup and view all the answers

<p>A vendor's bill for stock purchased.</p> Signup and view all the answers

<p>The management of merchandise a store has for sale.</p> Signup and view all the answers

<p>A method linking a store to its suppliers for automatic purchases.</p> Signup and view all the answers

<p>An inventory system using periodic counts of stock.</p> Signup and view all the answers

<p>An inventory system that continuously tracks stock items.</p> Signup and view all the answers

<p>A measure of how often stock is sold within a time period.</p> Signup and view all the answers

<p>The arrangement of store fixtures, equipment, and merchandise.</p> Signup and view all the answers

<p>Characterized by long rows of shelving with aisles.</p> Signup and view all the answers

<p>Designed to lead customers from the front back to the front.</p> Signup and view all the answers

<p>Features merchandise arranged in asymmetrical patterns.</p> Signup and view all the answers

<p>Features a center aisle extending from the front to the back of the store.</p> Signup and view all the answers

<p>Store furnishings used to hold and display merchandise.</p> Signup and view all the answers

<p>Usually small items purchased with little thought.</p> Signup and view all the answers

<p>Sales tools designed to encourage impulse purchasing.</p> Signup and view all the answers

<p>Items related to each other that usually sell together.</p> Signup and view all the answers

<p>Inventory losses from various factors like theft and error.</p> Signup and view all the answers

<p>A count and inspection of all merchandise in a store.</p> Signup and view all the answers

<p>The value of inventory recorded in business records.</p> Signup and view all the answers

<p>The removal of items from a store without payment.</p> Signup and view all the answers

<p>The unauthorized taking of merchandise by an employee.</p> Signup and view all the answers

<p>Costs associated with opening and operating a new business.</p> Signup and view all the answers

<p>Unpaid work put into a business that increases its value.</p> Signup and view all the answers

<p>A statement of an individual's personal financial status.</p> Signup and view all the answers

<p>Any tangible item of value an individual owns.</p> Signup and view all the answers

<p>Any debt an individual owes.</p> Signup and view all the answers

<p>The difference between total assets and total liabilities.</p> Signup and view all the answers

<p>A report outlining projected business revenue and expenses.</p> Signup and view all the answers

The systematic process of collecting and analyzing data about consumers to guide business decisions.

Original information collected specifically for the current research problem.

Pre-existing information gathered for purposes other than the current research problem.

A structured set of questions directed at a representative group to collect quantitative data.

An approach that collects data through direct watching of customer behaviors.

A moderated discussion with a small group of people to obtain qualitative insights.

Explores consumer perceptions that can be validated through quantitative measures.

Utilizes larger sample sizes to gather numerical data for statistical analysis.

Other businesses vying for the same customer base.

A selling approach where the salesperson helps customers identify their own needs.

The rate at which products are used up and need to be repurchased.

The ease or difficulty of selling a product.

Products with a limited shelf life, requiring prompt sales.

Items whose demand fluctuates based on the time of year.

A collection of retail businesses grouped together.

An enclosed structure housing various stores with adjacent parking.

A collection of stores linked by sidewalks in a neighborhood setting.

An independent store not attached to other businesses.

A formal agreement between landlord and tenant stipulating rent terms.

A lease with a set monthly payment.

Rent based on a percentage of sales generated by the tenant.

Rent plus additional operating expenses the tenant must pay.

The dollar amount set for items offered for sale.

The expense incurred by a store to acquire goods.

Revenue minus all expenses over a specific time.

The difference between retail price and cost price of an item.

The total stock available in a store, including in storage and on display.

An automated inventory method that links sales data with suppliers to manage stock levels.

A metric that indicates how quickly inventory sells over a period.

The design and arrangement of merchandise and fixtures.

Small, spontaneous purchases often driven by product placement.

Marketing tools used to promote items at checkout or key areas in-store.

Inventory loss due to theft, errors, or damages.

The act of stealing items directly from a retail establishment.

Unauthorized removal of merchandise by store employees.

Initial expenses incurred when opening a new business.

The value added to a business through the owner’s unpaid efforts.

A financial measure calculated as total assets minus total liabilities.

A financial report detailing income and expenditures over a period.

A government agency that enforces advertising laws to protect consumers.

Legislation setting rules for commercial email marketing to combat spam.

The variety of promotional tools and tactics a business utilizes to communicate with customers.

Unpaid media exposure that creates a positive public impression of a business.

Strategies aimed at maintaining repeat customers through rewards and incentives.