| A | B |
|---|
| Selling | planned, personalized communication designed to influence purchase decisions that ensure customer satisfaction |
| feature | a fact or characteristic of the product |
| benefit | advantage consumers receive from using a product |
| manufacturer | type of producer that changes the shapes or forms of materials so that they will be useful to consumers |
| goods | tangible objects that can be manufactured or produced for resale |
| services | intangible activities that are performed by other people for money; productive acts that satisfy economic wants |
| retailer | a business that buys consumer goods or services and sells them to the consumer |
| entrepreneur | oeople who assume the risks of starting and operating businesses |
| tangible | capable of being touched, smelled, tasted, seen or heard |
| intangible | not capable of being detected through the senses |
| ultimate consumption | the process or activity of using goods and services for personal use |
| economy | the system in which people make and spend their income |
| economic flow | the movement of resources from resource owners to producers and from producers to consumers |
| need | something required or essential that is lacking |
| want | a desire for something that may or may not be required |
| selling skills | the ability to determine customers' needs, wants, and buying motives; to open and close sales; to question customers; to handle customer objections; suggest additional or substitute items; demonstrate products and follow up sales |
| product knowlege | information about a specific good or service that can be used in sales presentations |
| ethics | basic principles that govern your behavior |
| utility | the usefulness; capable of satisfying wants and needs |
| sales presentation | the sales procedure in which the sales person shows the customer the benefits of the products features; includes the sales dialogue and product demonstration |
| products | goods and services |
| selling policies | guidelines for selling. How will products be sold? |
| selling-activity policies | guideslines for salespeople. What is required of the sales employees? What laws apply? |
| terms-of-sale policies | determining conditions that apply to each type of sale |
| service policies | guidelines for servicing customers |
| deceptive advertising | advertising that misleads consumers, either by making unjustified claims regarding a product's composition, qualities, sponsorship or performance or by omitting a material fact concerning the product's composition, qualities, sponsorship, or performance |
| false statement of "fact" | advertising that appears to be based on facts which are, in fact, scientifically untrue, is deceptive |
| bait-and-switch-advertising | advertising one peoduct 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 |
| puffery | vague generalities and/or obvious exaggerations; not deceptive |
