| A | B |
|---|
| shrinkage | Money lost by a business due to broken, damaged, expired or stolen inventory |
| shoplifting | taking itmes from a retial store without paying for them |
| stolen goods | products taken by shoplifters; recorded on Income Statement under Cost of Goods Sold |
| physical inventory | a count of all the items in a business |
| cost | what it costs your store to purchas products from a supplier |
| margin | the difference between your price an dthe cost for a particular product |
| revenue | the total sales (in dollars) of your tore over some period of time |
| profit | the revenue of your tore minus all expenses over some period of time |
| cost-oriented pricing | setting prices based on cost; usually prices are set as a multiple of the cost; ie; 1.5 times the cost |
| demand-oriented pricing | setting prices based on what the customer is willing to pay |
| competition-oriented pricing | setting prices based on competitor's prices |
| 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 and advertisement |
| cost per thousand | cost to reach one thousand people through a particualr media, typically abbreviated CPM |
| rotation | a time period in which a business' advertisment is played one or more times each day |
| 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 purchases | 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 enter a store to purchase |
| complementary items | products that are often consumed together |
| related merchandise display | a display containing complementary products |
