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Bait-and-switch
Bait-and-switch is a form of fraud used in retail sales but also employed in other contexts. First, the merchant "baits" the customer by advertising a product or service at a low price; then when the customer goes to purchase the item, they discover that it is unavailable, and the merchant pressures them instead to purchase a similar but more expensive product ("switching"). Bait-and-switch techniques have a long and widespread history as a part of commercial culture. Many variations on the bait-and-switch appear, for example, in China's earliest book of stories about fraud, Zhang Yingyu's '' The Book of Swindles'' (c. 1617). Function The intention of the bait-and-switch is to encourage purchases of substituted goods, making consumers satisfied with the available stock offered, as an alternative to a disappointment or inconvenience of acquiring no goods (bait) at all, and reckoning on a seemingly partial recovery of sunk costs expended trying to obtain the bait. It suggests tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
False Advertising
False advertising is the act of publishing, transmitting, distributing or otherwise publicly circulating an advertisement containing a false claim, or statement, made intentionally, or recklessly, to promote the sale of property, goods or services. A false advertisement can be classified as deceptive if the advertiser deliberately misleads the consumer, rather than making an unintentional mistake. A number of governments use regulations or other laws and methods to limit false advertising. Types of deception False advertising can take one of two broad forms: an advertisement may be factually wrong, or intentionally misleading. Both types of false advertising may be presented in a number of ways. Photo manipulation Photo manipulation is a technique often used in the cosmetics field and for weight loss commercials to advertise false (or non-typical) results and give consumers a false impression of a product's capabilities. Photo manipulation can alter the audience's percep ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fraud
In law, fraud is intent (law), intentional deception to deprive a victim of a legal right or to gain from a victim unlawfully or unfairly. Fraud can violate Civil law (common law), civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, such as obtaining a passport, travel document, or driver's licence. In cases of mortgage fraud, the perpetrator may attempt to qualify for a mortgage by way of false statements. Terminology Fraud can be defined as either a civil wrong or a criminal act. For civil fraud, a government agency or person or entity harmed by fraud may bring litigation to stop the fraud, seek monetary damages, or both. For cr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Outline Of Marketing
The following outline is provided as an overview of and topical guide to marketing: Marketing – social and managerial processes by which products, services, and value are exchanged in order to fulfill individuals' or groups' needs and wants. These processes include, but are not limited to, advertising, promotion, distribution, and product management. Core concepts in marketing Marketers may sell goods or services directly to consumers, known as business to customer (B2C marketing); commercial organizations (known as business to business marketing or B2B), to government; to not-for-profit organizations ( Not-for-profit organization (NFP)) or some combination of any of these. Actors and relationships : At the center of the marketing framework is the consumer lies the relationship between the consumer and the organization with the implication that marketers must manage the way the organization presents its public face. :: The consumer: Typically, the consumer refers t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Low-ball
The low-ball is a persuasion, negotiation, and selling technique. Overview By buyers When used by buyer, the low-ball is an offer for goods or services far lower than the price the buyer is willing to pay, made in the hope that the seller will at least counter-offer a price lower than the original asking price. Sellers looking to maximize profit but expecting would-be buyers to haggle may conversely make a "high-ball" offer and/or asking price. Eg:- A car buyer offers an unreasonably low price to a dealer, hoping to settle for a fair discount. By sellers When a seller makes a low-ball offer this means an item or service is offered at a lower price than what is needed actually for the desired profit margin to be realized. The seller makes the offer with the intent of quickly raising the price in order to increase profits and/or with the intent of selling would-be buyers additional, more profitable products and services. An explanation for the effect is provided by cognitive d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Invitation To Treat
An invitation to treat (or invitation to bargain in the United States) is a concept within contract law which comes from the Latin phrase ''invitatio ad offerendum'', meaning "inviting an offer". According to Professor Andrew Burrows, an invitation to treat is Sometimes a person may not offer to sell their goods, but makes some statement or gives some information with a view to inviting others to make offers on the basis. Likewise, inviting persons to an auction, where goods to be auctioned are displayed, is not an offer for the sale of goods. The offer is made by the intending buyers in the form of bid. Such an offer (bid), when accepted by the fall of hammer or in some other customary way, will result in a (binding) contract. A contract is a legally binding voluntary agreement formed when one person makes an offer, and the other accepts it. There may be some preliminary discussion before an offer is formally made. Such pre-contractual representations may include "invitation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foot-in-the-door Technique
Foot-in-the-door (FITD) technique is a compliance tactic that aims at getting a person to agree to a large request by having them agree to a modest request first. This technique works by creating a connection between the person asking for a request and the person that is being asked. If a smaller request is granted, then the person who is agreeing feels like they are obligated to keep agreeing to larger requests to stay consistent with the original decision of agreeing. This technique is used in many ways and is a well-researched tactic for getting people to comply with requests. The saying is a reference to a door to door salesman who keeps the door from shutting with his foot, giving the customer no choice but to listen to the sales pitch. Classic experiments In an early study, a team of psychologists telephoned housewives in California and asked if the women would answer a few questions about the household products they used. Three days later, the psychologists called again. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Door-in-the-face Technique
The door-in-the-face technique is a compliance method commonly studied in social psychology. The persuader attempts to convince the respondent to comply by making a large request that the respondent will most likely turn down, much like a metaphorical slamming of a door in the persuader's face. The respondent is then more likely to agree to a second, more reasonable request, than if that same request is made in isolation. The DITF technique can be contrasted with the foot-in-the-door (FITD) technique, in which a persuader begins with a small request and gradually increases the demands of each request. Both the FITD and DITF techniques increase the likelihood a respondent will agree to the second request. The door-in-the-face technique was tested in a 1975 study conducted by Robert Cialdini. Classic experiment In a classic experiment investigating the effectiveness of the DITF technique, researchers separated participants into three groups. In group 1, experimenters asked particip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loss Leader
A loss leader (also leader) is a pricing strategy where a product is sold at a price below its market cost to stimulate other sales of more profitable goods or services. With this sales promotion/marketing strategy, a "leader" is any popular article, i.e., sold at a low price to attract customers. One use of a loss leader is to draw customers into a store where they are likely to buy other goods. The vendor expects that the typical customer will purchase other items at the same time as the loss leader and that the profit made on these items will be such that an overall profit is generated for the vendor. "Loss lead" is an item offered for sale at a reduced price that is intended to "lead" to the subsequent sale of other services or items. The loss leader is offered at a price below its minimum profit margin—not necessarily below cost. The firm tries to maintain a current analysis of its accounts for both the loss lead and the associated items, so it can monitor how well the sche ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Job Interview
A job interview is an interview consisting of a conversation between a job applicant and a representative of an employer which is conducted to assess whether the applicant should be hired. Interviews are one of the most common methods of employee selection. Interviews vary in the extent to which the questions are structured, from an Unstructured interview, unstructured and informal conversation to a structured interview in which an applicant is asked a predetermined list of questions in a specified order; structured interviews are usually more accurate predictors of which applicants will make suitable employees, according to research studies. A job interview typically precedes the Recruitment, hiring decision. The interview is usually preceded by the evaluation of submitted résumés from interested candidates, possibly by examining job applications or reading many resumes. Next, after this screening, a small number of candidates for interviews is selected. Potential job intervi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing
Marketing is the act of acquiring, satisfying and retaining customers. It is one of the primary components of Business administration, business management and commerce. Marketing is usually conducted by the seller, typically a retailer or manufacturer. Products can be marketed to other businesses (B2B Marketing, B2B) or directly to consumers (B2C). Sometimes tasks are contracted to dedicated marketing firms, like a Media agency, media, market research, or advertising agency. Sometimes, a trade association or government agency (such as the Agricultural Marketing Service) advertises on behalf of an entire industry or locality, often a specific type of food (e.g. Got Milk?), food from a specific area, or a city or region as a tourism destination. Market orientations are philosophies concerning the factors that should go into market planning. The marketing mix, which outlines the specifics of the product and how it will be sold, including the channels that will be used to adverti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Introductory Rate
An introductory rate (also known as a teaser rate) is an interest rate charged to a customer during the initial stages of a loan. The rate, which can be as low as 0%, is not permanent and after it expires a normal or higher than normal rate will apply. The purpose of the introductory rate is to market the loan to customers and to seem attractive. They are commonly used for the application of balance transfers, and they may or may not apply to cash advances. In the United States, the Fair Credit and Charge Card Disclosure Act (FCCCDA) requires that the rate that will occur following the expiration of the introductory rate be clearly disclosed to the customer. When determining qualification for a loan Sometimes, due to an introductory rate, an applicant can get approved for a mortgage based on payment history, when that applicant may have had a good payment history on the introductory rate, but may not be able to maintain such payments once this rate expires and rises. Teaser r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cross-selling
Cross-selling is a sales technique involving the selling of an additional product or service to an existing customer. In practice, businesses define cross-selling in many different ways. Elements that might influence the definition might include the size of the business, the industry sector it operates within and the financial motivations of those required to define the term. The objective of cross-selling can be either to increase the income derived from the client or to protect the relationship with the client or clients. The approach to the process of cross-selling can be varied to include two teams within the same organization or two organizations partnering to cross-sell or co-sell a client. Unlike the acquiring of new business, cross-selling involves an element of risk that could disrupt the relationship of existing clients. For that reason, it is important to ensure that the additional product or service being sold to the client or clients enhances the value the client ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
