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