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Chapter 23 vocab

Terms and Definitions

AB
brand namea name given to a product or service that is intended to distinguiseh it from other similar and/or competitive producst/services
unit priceprice per unit of measure
promotional salessales in which businesses promote the sale of regular merchandise by making temporary price reductions
clearance salessales used to clear merchandise that stores no longer wish to carry in stock
full-service storesstores that offer a wide variety of goods and emphasize customer service
factory outlet storesstores selling products that sometimes have minor flaws at low prices
warehouse marketsno-frills food outlet emphasizing the sale of large quantities of items at reasonable prices
convenience storesstores that emphasize the sale of food items, an accessible locations, and long operating hours
price indexseries of figures showing how prices have changed over a period of years
consumer price indexshows the changes in the average prices of goods and services bought by consumers over a period of time
comparison shoppingcomparing the price, quality, and services associated with one product with those of another product
impulse buyingbuying too repidly without much thought
supermarketa large, full-service food retailer that carries a wide veriety of national, store, and generic brands at moderate prices
specialty storesstores that have a special line of products for sale
discount storelarge stores that sell large quantities of goods at low prices


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