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
