| A | B |
|---|
| Bait-and-Switch | Advertising one product (the "bait") at a very attractive price, then informing the customer that the advert+B1ised product is either unavailable or of poor quality, convincing the customer to purchase a different, more expensive product.B37 |
| Benefit | an advantage consumers receive from using a product. |
| 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. |
| Economic Flow | is the movement of resources from resource owners to producers and from producers to consumers. |
| Economy | is the system in which people make and spend their incomes. |
| Entreprenuers | people who assume the risks of starting and operating businesses. |
| Ethics | the basic principles that govern your behavior. |
| False statement of Fact | Advertising that appears to be based on facts which are, in fact, scientifically untrue, is deceptive. |
| Feature | a fact or characteristic of the product. |
| Goods | tangible objects that can be manufactured or produced for resale. |
| Intangible | not capable of being detected though the senses. |
| Manufacturer | a type of producer that changes the shapes or forms of materials so that they will be useful to consumers. |
| Need | something required or essential that is lacking. |
| Product Knowledge | information about a specific good or service that can be used in sales presentations. |
| Products | goods and services. |
| Retailer | a business that buys consumer goods or services and sells them to the ultimate consumer. |
| Sales | 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 | planned, personalized communication designed to influence purchase decisions that ensure customer satisfaction. |
| Selling - Activity Policies | are guidelines for sales people. What is required of the sales employees? What laws apply? |
| Selling Policies | are guidelines for selling. How will products be sold? |
| 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. |
| Service Policies | guidelines for servicing customers. |
| Services | intangible activities that are performed by other people for money; productive acts that satisfy economic wants. |
| Tangible | capable of being touched, smelled, tasted, seen or heard. |
| Terms-of-Sale Policies | determining conditions that apply to each type of sale? (Think airline tickets, e-Bay, close-outs) |
| Ultimate Consumption | the process or activity of using goods and services for personal use. |
| Utility | usefulness; capable of satisfying wants and needs. |
| Want | a desire for something that may or may not be required. |
