Accelerated Development – The process of speeding up the new product development process. Development can be accelerated in a number of ways, such as speeding up the development process, eliminating unnecessary steps, undertaking two or more development tasks in parallel, or eliminating or minimizing decision-making delays.
Acceleration Principle– A postulation in economics that society’s stock of Capital will be increased only when total income is growing. A requisite to maintaining business investment is that consumption must continue to increase. After a time, as an arithmetic model will show, a recession would set in if the rate of sales growth declines below a given point.
Accelerated Purchase – A sales promotion goal achieved when consumers or channel members purchase the product before the time they would have normally bought.
Accent– the emphasis given a fashion to enhance its particular underlying style.
Acceptable Price Range – This includes those prices that buyers are willing to pay for goods and services.
Acceptance Sampling– the use of a specific pattern of statistical sampling as a part of the inspection activity of a manufacturing firm; designed to determine the acceptance or rejection of a particular lots of materials or products.
Accessories– In retailing, those items which coordinate with a basic article of wearing apparel and make it more attractive, and hence more attractive the complete appearance of the wearer. Usually applied to women’s wear. includes such as gloves, handbags, hosiery, jewelry, and scarves.
Accessory Equipment– Major units of processing equipment of a general nature, useful in variety of plants. Usually of a type to facilitate plant operations rather than to determine the product. (b) The portable factory equipment and tools that are used in the production process and do not become part of the finished product. They are generally inexpensive, short-lived, and relatively standardized. Examples are hand tools, lift trucks, and office equipment.
Access Time– In ADP, the time lapse between the moment information is called for from storage and the moment of delivery of the information is completed, called the read time. Also the time lapse between the moment information is ready for storage and the moment storage is completed is called the write time.
Accommodation Area– In retailing, an area devoted to giving auxiliary services to customers, such as wrappings, approving checks,validating parking cost receipts, and other sales- supporting but non-selling activities.
Accommodation Desk– (Essentially the same as Accommodation Area) A service area in a large store for customers accommodation on such things as store information, exchange or refunds, gift certificates, or stamping parking permits.
Accordion Fold– A way of folding an advertising piece so that the panels fold alternately inward and outward.
Accordion Theory– An attempt to explain retailing development by pointing to a seeming historical tendency for retail business to become dominated in an alternating pattern by general-line, wide assortment retailers followed by specialized, narrow-line retailers. Because there are no valid historical statistics on merchandise assortments, this theory cannot be approved conclusively. Nevertheless, many students of retailing history claim to have discern this pattern.
Account– In the field of advertising, a client of an advertising agency or a firm placing advertising directly with media. (2) Generally in marketing a customer, usually an institution or another organization, that purchases a company’s products or services. See: Key Account, National Account (3) In the practice of accounting, a device for storing and accumulating financial information about a particular part or detail of the operations of a business.
Account Classification – The categorization of a sales person’s customers into groups, based on criteria such as potential sales, for the purpose of developing a sales call plan. Comment: The classification scheme reflects the relative attractiveness of the various customers and is used to direct sales effort.
Account Executive– That person in an advertising agency who is responsible for the planning and preparation of advertising for one or more clients. He is a primary liaison between the advertiser and the agency. Same as: Account Supervisor, Contact Man 2. A sales person who has responsibility for the overall relationship between his or her firm and a few major accounts. Comment: An account executive coordinates financial. production, and technical capabilities of the firm to satisfy the needs of the account.