Vocabulary
What is a printed or electronic offer giving a discount for goods or services bought before a certain date?
Coupon
What is clearance sale?
Merchandise price has been reduced from previous prices
What do Resale shops sell?
Used merchandise
What is the amount of money requested in exchange for a product called?
price
What is advertising?
Paid public announcement promoting the sale of a good or service?
Anywhere buyers and sellers meet to exchange goods, services, and money is called?
Marketplace
What is it called when seller is closing its business and selling goods at reduced prices to hasten the closing?
Going-out-of-business sale
What do costumers use catalogs for?
Catalogs are used by customers to order goods and services off their pages.
What happens when demand is greater than the supply?
Prices rise
Insecurity appeals are when?
The consumer desire to be popular and attractive.
What is the name of the governmental regulation that requires certain information be placed on labels for certain products?
Labeling law
When merchandise is no longer being produced it is called?
Closeout Sale
What are retail stores that sell directly from a physical location?
Brick-and-Mortar Stores
What is odd pricing?
When the price ends in an odd number.
When famous personalities promote product it is called?
Celebrity endorsement
When a participant must wager something to win it is called?
Game of chance
Liquidation is when?
Merchandise is selling at reduced prices in order to aid in converting inventory to cash.
A nonretail association owned and operated by a group of members for their own benefit rather than for profit is called?
Consumer Cooperatives
A special offer by sellers designed to help goods and services is called?
Buying incentive
What is in infomercial?
A program-length advertisements that resemble actual television programming. The products being promoted, such as cosmetics, kitchenwares, or exercise equipment, are often demonstrated.
What is the word for something that is no longer useful because a newer version exists?
Obsolete
When new merchandise is selling at a price that will increase after the initial offer it is called?
Introductory offer
A business activity that transpires using a mobile device is called?
M-commerce
A item that is priced lower to attract buyers is called?
Loss leader
When information that purposely misleads a consumer through dishonest claims what is it considered?
Deceptive advertising