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SEM Unit 2 Vocab
Term | Definition |
---|---|
Bait-and-switch advertising | Advertising one product (the "bait") at a very attractive price, then informing the customer that the advertised product is either unavailable or of poor quality, convincing the customer to purchase a different, more expensive product. |
benefit | Advantage consumers receive from using a product. |
buying motive | emotional or rational reasons a customer decides to make a purchase. |
deceptive advertising | Advertising that misleads consumers, either by making unjustified claims regarding a product's composition. |
direct distribution | channel of distribution is straight from manufacturer to consumer. |
false statements of fact | Advertising that appears to be based on facts which are, in fact, scientifically untrue, is deceptive. |
indirect distribution | /middlemen (wholesaler, retailer) involved in channels of distribution |
intermediaries | business firms operating between manufacturer & the customer/buyer that aide in the movement of product (middlemen); o performs Marketing functions better than manufacturer is capable of. |
resale | the sale of an article, goods or merchandise which one has bought with an intention to sell it to another person. |
retailer | a business that buys consumer goods or services from wholesalers or directly from manufacturers and resells them to the ultimate consumer. |
sales presentation | the sales procedure in which the sales person shows the customer the benefits of the product’s features; includes the sales dialogue and product demonstration |
selling policies | guidelines for selling. How will products be sold? |
selling skills | : ability to determine customers’ needs, wants, and buying motives; to open and close sales; to question customers |
selling activity policies | guidelines for sales people. What is required of the sales employees? What laws apply? |
terms of sale policies | determining conditions that apply to each type of sale? (Think airline tickets, e-Bay, close-outs) |
ultimate consumption | process or activity of using goods and services for personal use. |
wholesaler | buys from the manufacturer and sells products to buyers who are purchasing them for reasons other than personal or family use (business use, resale, production);sell to other businesses, not directly to consumers |
utility | usefulness; capable of satisfying wants and needs. |
want | a desire for something that may or may not be required. |
need | something required or essential that is lacking. |