The amount of money a business charges for items
it offers for sale.
What is Price
100
The person who is responsible for purchasing the
merchandise for a store.
What is Buyer
100
Money left after all the expenses of a business have been deducted from the income
What is Profit
100
The positive communication a business has with its
customers.
What is Promotion
100
Paid public announcement to persuade you to buy an item or service.
What is Advertising
200
The amount of money the store pays to purchase the
merchandise from a supplier.
What is Cost
200
A business from which a buyer purchases
merchandise.
What is Vendor/Supplier
200
The amount of a good or service that producers are willing to produce.
What is Supply
200
Promotion of a store’s merchandise.
What is Product Promotion
200
The use of unpaid references to a business to
further a positive impression.
What is Public Relations
300
The difference between the retail price of an item and
the cost of the item to the store.
What is Margin/Mark Up
300
The total amount of goods a business has, including
goods in the backroom and on the sales floor.
What is Inventory
300
The amount or quantity of goods or services that consumers are willing and able to buy.
What is Demand
300
Promotion meant to heighten a store’s image.
What is Institutional Promotion
300
A form of public relations that involves calling
attention to a newsworthy aspect of the business.
What is Publicity
400
The principle that describes the amount of product
available to sell and the willingness of customers to
buy that product.
What is Supply and Demand
400
A usually computerized method of inventory control
that involves linking a store to its suppliers through
a computer system that purchases new inventory
automatically as sales are made.
What is Just-in-Time Inventory Control System
400
When wants are greater than resources.
What is Scarcity
400
A type of promotion that involves the use of
paid sales associates to interact with the store’s
customers.
What is Personal Selling
400
The combination of the types of promotion a
business uses. 4 P's
What is Promotional Mix/Marketing Mix
500
The percentage that a store has of the total sales in
its trading area.
What is Market Share
500
A measurement of how often stock/inventory is sold during
a given time period.
What is Stock/Inventory Turnover
500
Point at which consumers buy all of a product that is supplied, leaving neither a surplus nor a shortage.
What is Equilibrium
500
A type of promotion that involves the use of
activities meant to encourage customers to make immediate purchases or purchases during a particular time frame.
What is Sales Promotion
500
An agency of the federal government that enacts
and enforces advertising laws that protect
consumers.