Average – Usually used interchangeably with Arithmetic Mean, which is found by summing a group of numbers and dividing by the number of items. It is important to know the data from which the average is derived before concluding anything from it. (2) Any of the several Measures of Central Tendency.
Average Cost – Total cost divided by the related quantity. See: Average Fixed Cost, Average Revenue, Average Variable Cost
Average Cost Per Unit – Total cost, i.e., the sum of fixed costs and variable costs at a given level of output, divided by the number of units.
Average Demurrage Agreement – An arrangement between a shipper and a carrier whereby the shipper is charged for the time units are held for loading or unloading beyond a certain period, and credited for the time units are released within a certain period. The net Demurrage is usually assessed at the end of each month.
Average Fixed Cost – fixed cost divided by related quantity. See: Average Cost
Average Quarter Hour Persons – the number of persons estimated to have listened at home or away to a station for a minimum of five minutes within a given quarter hour.
Average Revenue – Total revenue divided by related quantity. Same as: Demand See: Average Revenue Line
Average Revenue Line – Same as: Demand Curve
Average Variable Cost – Variable cost divided by related quantity. The total variable cost divided by the number of units produced and sold. See: Average Cost
Avoidance- Avoidance Conflict – One of the three way classification of conflict which may cause decision delays and which may require motivation to resolve, this one involves a choice between two or more undesirable alternatives. See: Approach-Approach Conflict, Approach-Avoidance Conflict
Awareness -(1) In Marketing Research, refers to what respondents know or do not know about the object of the investigation. (2) The amount of information respondents possess about the product in all of its ramifications See: Perception
Back Card – An advertising Message on a card attached to the back of Merchandiser, projecting above the merchandiser to present the message at eye level
Back-Door Selling – A situation in which a sales person deliberately bypasses the purchasing department and makes a call on personnel in the department which he believes can use his product. Most firms try to discourage this and some have strict rules that all selling must begin with the purchasing department.
Backgrounder Sheet – A brief review of an organization’s history, mission, financial support, or other information provided to the media with other publicity materials in order to supply basic information that maybe used in a news story. It is also known as a fact sheet.
Back Haul –1. the rerouting of a freight shipment back over a route that it has completed. 2. The use of a firm’s empty delivery equipment to haul back purchases of merchandise from supplier who are located near customer destinations.
Back-Haul Allowance – A reduction in price given to customers making their own pick-ups at the seller’s warehouse. Such allowance made by a seller using a uniform zone pricing system could have been questioned under FTC statement regarding the availability to customers of an option of buying at a true f.o.b shipping point price.
Back-Hauling – The process of moving goods from a warehouse to a customer who is situated between the warehouse and the plant. While it is not practicable to eliminate this entirely because of time limitation on supplying dealers, an effort should be made to locate warehouse where this condition is reduced to a minimum.
Back Haul Provision – Current transportation regulation authorizes a freight allowance for customer to pick up specific commodities rather than delivered pricing. this provision often increases utilization of transportation capacity.
BackHaul Traffic – The service an otherwise private carrier may be permitted to perform as a common carrier on the return trip from delivering a shipment to a customer.
Backing Activities – Those activities in a retail store which do not involve direct interaction with customers. When these activities can be done during periods of low customer load by the same persons who do the clerking activities, the store is said to be intrinsically backed. When the store is so large that specialized employees must be hired to handle the backing so that it is no longer a free good, the store is said to be extrinsically backed. A common manifestation of this distinction is in the tendency of sales per employee to decline as a store opens branches.
Backing Up – Denotes the printing of one side of the a sheet after the other side has been printed.
Backlighting – A full colored advertisement printed on a translucent sheet rather than on paper stock so that special lighting behind the sheet turns it into a dramatic color slide. Sometimes placed on a bus top.
Back Log – The total unfilled orders of a firm or Industry on hand at any one time. The size of the back log is often considered an indicator of the health of the business or industry. Unfilled orders sometimes are used as an Economic Indicator.
Back Order – A customer’s order which is being held pending the supplier’s ability to ship. ( retailing definition) A part of an order that the vendor intends to ship as soon as the goods in question are received, manufactured, or procured. (physical distribution definition) An order not filled or shipped at time originally requested and “kept the books” to be shipped later.
Back-To-Back – (1) A situation in broadcasting in which two commercials follow one another without intervening editorial or entertainment matter. A direct sequence of two or more. There is a decided tendency to place an ever larger number of commercials back-to-back. (2) Also applied to two programs which follow one another. See: Clutter, Triple -Spotting
Back-Up Inventory – Same as: Buffer Inventory
Back-Up Merchandise – Goods held in reserve at some storage point removed from access to customers but available to personnel for restocking purposes. See: Floor Stock
Back-Up Stock – In retailing, the amount of merchandise available in warehouse o in-store stockroom reasonably close to the selling floor. Important to runners that this be properly managed.
Backward Vertical Integration – See: Vertical Integration
Bagman – The earliest true salesperson, selling from bags of samples at the time of the Industrial Revolution in England, late 18th century. Same as: Manchester Manchester