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Selling

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Give or hand over (something) in exchange for money.

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Manufacturer

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A person or company that makes goods for sale.

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Retailer

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Involves the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit. Demand is identified and then satisfied through a supply chain.

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Entrepreneurs

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A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.

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Intermediaries

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A person who acts as a link between people in order to try to bring about an agreement or reconciliation; a mediator.

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Want

answer

Have a desire to possess or do (something); wish for.

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Economic Flow

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The circular flow of income is a neoclassical economic model depicting how money flows through the economy.

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Ethics

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Moral principles that govern a person's or group's behavior.

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Selling-activity policies

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Guidelines for selling activities that involve interaction with customers or potential customers.

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Products

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An article or substance that is manufactured or refined for sale.

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Feature

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A distinctive attribute or aspect.

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Goods

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Items purchased to satisfy needs and wants

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Wholesaler

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The selling of goods in large quantities to be retailed by others.

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Tangible

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Can be touched

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Ultimate consumption

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Achieved by some goods and services being sold directly to consumers.

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Selling skills

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Ability to get people to buy something

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Need

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Basic requirement for survival

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Utility

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Usefulness

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Terms-of-sale policies

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Guidelines covering aspects of a sale with which customers are usually most concerned, through price, delivery, credit, discount, and guarantee policies.

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Benefit

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Advantage

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Services

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Actions or activities that one person performs for another

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Resale

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1- reasonable notification to debtor, surties, and secured parties/filing statemen

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Intangible

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Not material

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Economy

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A system for producing and distributing goods, and services to fulfill people's wants

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Product Knowledge

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Managers must comprehend such factors as technological trends, customer needs, and competitive forces affecting the goods the firm produces and sells

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Selling policies

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General rules established by management to guide the personal selling effort and outline how things must be done.

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Sales presentation

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A formal meeting in which the salesperson presents a sales proposal to a prospective buyer

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Service policies

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Designed to govern the support a company provides to customers after the sale.

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Positioning

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Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

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Slogan

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a short, catchy phrase that conveys an important idea

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Competitive advantage

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one or more unique aspects of an organization that cause target consumers to patronize that firm rather than competitors

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Determinant factor

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something the target market really cares about, something that makes a big difference to them

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Benefits

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part of an employee's compensation over and above wages or salary

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Performance

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How well a task is completed

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Durability

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Ability of an item to last a long time

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Reliability

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Consistency

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Repairability

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ease of fixing a problem with the product, as part of the product evaluation process

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Manufacturing or creation process

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The act of producing or causing to exist

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Quality

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how good or bad something is

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Competence

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having enough skills to do something

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Training

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A planned effort to facilitate the learning of job-related knowledge, skills, and behavior by employees.

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Responsiveness

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the ability to provide prompt service

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Communication

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A process through which you send messages to and receive messages from others.

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Courtesy

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Politeness originating in kindness and exercised habitually.

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Endorsements

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Is a person's public expression of approval or support for a product or service

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Brand

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All the combined impressions and experiences associated with a particular company, good, or service.

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Brand Ambassadors

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Individuals, usually employees, who communicate the company's values, vision, and personality to those they have contact with

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Brand Champion

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The person in a business who is responsible for making the brand come alive and for sustaining it; usually the business owner, president, or CEO

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Brand Cues

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Elements that remind customers and employees of brands and their values

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Brand Erosion

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The deterioration or destruction of a corporate or product brand

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Brand Identifiers

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Company or product names and logos

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Brand Identity

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Those elements that are instantly recognized as representing a particular business or product

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Brand Image

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Impressions of a corporate brand within customers' minds which represent what the brand stands for

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Brand Insistence

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The stage of brand loyalty in which consumers insist upon buying a specific brand

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Brand Licensing

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The legal authorization by a brand owner to allow another company to use the brand in exchange for a fee

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Brand Loyalty

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Customers' allegiance to a particular brand

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Brand Mark

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A distinctive symbol, design, sound, or group of letters which is seen or heard but cannot be spoken

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Brand Name

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That part of brand identity that can be spoken, including words, phrases, letters, numbers, or any combination of these

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Brand Personality

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The projection of a brand that encompasses its values and emotional connections with consumers. How your brand would behave or a detailed personal profile of your business in order to create and maintain an emotional connection with your customers

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Brand Positioning

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A branding strategy in which marketers create a certain image or impression of a brand as compared to those of competitors' brands

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Brand Preference

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The stage of brand loyalty in which consumers prefer to purchase a certain brand but will accept substitutes if the brand is not available

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Branded Product

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An item that features only the logo of the manufacturer and not another company's trademark

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Brand Promise

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A business's agreement (spoken or unspoken) with customers that it will consistently meet their expectations and deliver on its brand characteristics and values

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Brand Recognition

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The stage of brand loyalty in which consumers are made aware of a brand's existence

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Brand Strategies

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The actions a business takes with a brand in order to accomplish its goals

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Brand Symbol

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A business's distinctive logo, design, or group of letters that cannot be spoken but are used to establish brand identity; often used in conjunction with a brand name.

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Brand Value

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A brand's worth in terms of income, potential income, and prestige

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Brand Values

answer

Core values; beliefs or qualities that a corporate brand stands for and is built around

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Branding

answer

The ongoing decision-making process about the use of brands

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Customer Experience Management

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The strategies, processes, and policies a business uses to meet or exceed customer expectations and to provide customers with outstanding experiences at every touch point

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Mission Statement

answer

A brief summary of what a business owner wants a business to be doing

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Post-Purchase Touch Points

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All the opportunities that businesses have after sales transactions to connect with customers and reinforce their brand values

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Pre-Purchase Touch Points

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All the opportunities that businesses have before sales transactions to connect with customers and reinforce their brand values

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Purchase Touch Points

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All the opportunities that businesses have during sales transactions to connect with customers and reinforce their brand values

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Touch Points

answer

All the opportunities which businesses have to connect with customers and reinforce their brand value

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Trademark

answer

Legal method for protecting brands from misuse externally; represented by the registration mark (®), TM trademark (™), or (sm) service mark

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U.S. Patent and Trademark Office

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Office of the federal government responsible for issuing, administering, and enforcing U.S. patents and trademarks

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Vision statement

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A summary of what a business owner wants a business to become

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