Maslow's Hierarchy
These are the needs that come to the surface in a time of crisis or disorganization in the social structure
What is Safety Needs
Business selling to other businesses
What is Business-to-business selling
A way to approach a customer that focuses on welcoming the customer to the store
What is greeting approach
Biggest shopping day in US. It's the day after Thanksgiving
What is Black Friday
The product sales, revenue and profits are on the rise. Second stage of the product life cycle
What is Growth
These are the needs for basic necessities: food, water, oxygen, etc. These are the needs that are vital to survival
What is Physiological Needs
Seller induces customer to purchase more expensive items
What is up-selling
A way to approach a customer that focuses on making a comment or asking questions about a product in which the customer shows interest
What is merchandise approach
Process of paying for something little by little while the store keeps it
What is lay-away
The image a product projects that sets it apart from the competition
What is product positioning
This is an ongoing process of doing good that leads to a feeling of fulfillment. This is the pinnacle of the needs' hierarchy
What is Self-actualization
Sell a different product or service to an existing customer
What is cross-selling
A way to approach a customer that focuses on asking the customer if he or she needs assistance
What is service approach
Buying something at a lower price after the sale has ended
What is rain check
Is when a product dissolves as a result of decreased or negative growth
What is decline
These are the needs that involve emotions such as love, affection, and belonging
What is belongingness and love needs
May be basic, physical, or extended attributes of the product or purchase
What is product features
Questions that require respondents to construct their own answers
A social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services
What is Economics
When a product is brought into the market
These are the needs that people have for stability, high level of self-respect as well as respect from others. When it comes to key decision-makers in an organization, it is important to cater to their ego and show respect for their authority and position
What is Esteem Needs
The struggle between companies to attract new customers, keep exiting ones, and take away customers from other companies
What is competition
Expressing oneself without the use of words
What is non-verbal communication
Competition based on factors that are not related to price, such as product quality, service and financing, business location and reputation
What is non-price competition
The longest period in the life cycle of a firm, industry, or product, during which sale peak and start to decline. In economics, the final stage of economic growth characterized by high level of mass consumption
What is maturity