Business Exam 3

decision maker

a customer role that describes a person in an organization who is responsible for choosing which product or service will be obtained

purchaser

a customer role that describes an individual or institution that pays for or obtains a product or service

end user

a customer role that describes the person who eventually makes actual use of a product or service in his or her personal or work life

nepotism

a management philosophy of selecting and promoting people based on family ties

fulfillment center

a company that will warehouse your products and fill your customers' orders for you

influencer

a customer role describing a person or group who can make credible or recognized suggestions or recommendations to others regarding purchase choices

direct mail

a method of selling in which catalogs, brochures, letters, videos, and other pieces of marketing materials are mailed directly to customers from which they can mail, call, or email an order

agent

a middleman business which represents a manufacture's product or service to other business-to-business middleman firms

heterogeneity

a quality of a service in which each time it is provided it will be slightly different from the previous time

microinventory

a set of goods or services that consists of only one or a few items

wholesaler

an intermediary business which buys and sells to businesses rather than consumers

tangibility

an item's capability of being touched, seen, tasted, or felt

employee referral

an underused, low-cost method for finding workers that rewards your employees for recommending potential candidates that would be a great employee fit

bundling

combining two or more products in one unit and pricing it less than if the units were sold separately

telemarketing

contact via telephone for the express purpose of selling a product or service; can be either inbound or outbound

on-the-job training

delivered to employees while they perform their regular jobs; techniques include orientations, job instruction training, internships

indirect exporting

exporting using intermediaries such as agents, export management companies, or export trading companies

direct exporting

exporting using no intermediaries

just-in-time inventory

having just enough product on your shelves to meet the immediate purchases; usually requires frequent shipment from your supplier

off-the-job training

includes lectures, special study, videos, television conferences, simulation

low customer contact business

manufacturing business; commercial space might be appropriate

internet recruiting

meted of recruiting that allows you to search a resume database or post a job description to the web

direct sales

methods of going directly to your customer in order to sell your product; vending machines, farmers' market

direct response advertising

placing an advertisement in a magazine or newspaper, on television or radio, or in any other media

perishability

service exhibits perishability in that if it is not used when offered, it cannot be saved for later use

client's location

services include such things as house or office cleaning, pest control, remodeling, lawn and gardening services, carpet cleaning, and similar services which must be performed at the client's house

skimming

setting a price at the highest level the market will bear, usually because there is no competition at the time

captive pricing

setting the price for an item relatively low and then charging much higher prices for the expendable it uses

total product

the entire bundle of products, services, and meanings of your offering; includes extras like service, warranty, or delivery, as well as what the product means to the customer

guerilla marketing

the use of creative and relatively inexpensive ways to reach your customer

high customer contact business

three critical site selection considerations: traffic, customer ease, completion; parking is also an issue

mutually accessible location

too much specialized equipment to be readily transported; barbershops, dentist offices, video rental stores, restaurant

probationary period

trial period in which an employee has temporarily status before a formal offer to work full time is presented

meritocracy

a management philosophy of selecting and promoting people based solely on their being the most capable person for the job

sales promotion

a form of communication that encourages the customer to act immediately towards a purchase, such as coupons, sales, or contests