Close-Out

Close or Closing -(1) In sales, a successful asking-for-the-order resulting in the prospect’s agreement to buy the product or service offered. See: Assumptive Close, Trail Close (2) In advertising, that section of the copy which contains the idea of interest to the advertiser. Sometimes called urge line.

Closed Assortment – An assortment in which the structure of products required by the consumer is present and complete. See: Open Assortment

Closed Circuit System – A marketing system which provides for feedback only from within the system. No provision is made for inputs from the environment or the economy. This may work rather well for a firm, but usually on a lagged basis, information coming back slowly.  See: Linear System, Open-Circuit System

Closed Display – Merchandise is placed in cases under or behind glass, often kept locked so that a sales clerk is necessary to assist a customer in examining the item. See: Open Display

Closed-Door Membership Store – A retail establishment which requires its customers to qualify on the basis of some employment designation, such as government employment designation, such as government employee. Usually a discount house type of operation, membership generally requires the payment of an initial or annual fee or both.

Closed-End Question – The type of question which elicits a direct response from respondents. Uses a structured questionnaire.

Closed Sales Territory – A geographically-defined area in which a producer will permit only one middleman to handle certain goods. See: Exclusive Distribution

Closed Stock – Sets of items sold with the understanding that replacements of individual pieces will probably not be possible. See: Open Stock

Close-Out – An offer to sell at reduced prices a selection of items the firm has decided to discontinue for reasons of slow sale, incomplete assortment, error in judging demand, space priorities and/or the like.

Close Rate – One factor used in evaluating Salespeople. It is the salesperson’s number of successful closing divided by that salesperson’s number of sales calls.

Closing – The step in the AIDCAS process in which salesperson actually gets the order. See: Trial Close

Closing Clue – A verbal statement, or physical action such as a facial expression, that suggests a buyer may be ready to place an order. Salespeople are constantly on alert for such signals.  See: Issue Date, On-Sale Date

Closing Date – The last day on which an advertisement must be delivered to a medium if it is to appear in a specific issue or program. See: Issue

Closure – The fulfilling of an individual’s need for a complete picture formed from organizing perceptions so as to achieve this. See: Grouping

Clubbing Offer – An arrangement whereby subscriptions to two or more different publication are offered at a lower, combination price. A consideration for an advertiser in judging the composition of the circulations of the publications.

Clucking Hens – New or unusual concerns for a retail store’s top management which demand time and attention.

Cluster – A group of small specialty stores located without overall planning in a high-density residential area.

Clustering – A heavy clutter situation,especially in broadcast media. If the networks continue the limitation on non-program time and the number of program interruptions, competitive pressures may result in an increase in clustering.

Cluster Marketing – Featuring a group of related products in various advertising media as one unit of a number of items suitable for interchangeable use for a specific purpose. The effect is to position them to a particular target market.

Cluster Sample – A random or probability sample that uses groups of people rather than individuals as the respondent unit. See: Cluster Sampling

Cluster Sampling – A method of developing a probability sample by randomly selecting the elements in groups rather than individually. Used where it would be usually difficult or expensive to get a listing of the entire population from which to derive the sample. When all the elements in the selected group are included in the sample, the process is called single stage;when there is further selection within the groups, it is called multistage. See: Cluster Sample

Clutter – Several commercials in broadcast media, or advertisements in print media, following one another without intervening program time or editorial matter. Some media will not accept piggybacks, and otherwise regulate the amount of clutter. Preceding and succeeding advertisements are of great interest to advertisers in all media. See: Product Protection

Clutter Position – An advertisement placed within a series of other advertisements, whether in print or broadcast media. Sometimes the first and last of the series are excluded from this designation. See: Clutter

C.O.D – Abbreviation for: Cash-on-delivery terms. Sometimes said to stand for: Collect-in-delivery. Used in a situation where the buyer does not qualify for credit terms, yet there is every reason to believe that he will pay for the goods when brought to him by a carrier.

Code Price – The price which results when the trade discount is deducted from the list price.

Coding – a technical procedure by means of which data collected, usually on a questionnaire, are placed into one of a group of exhaustive classes that have been either predetermined or determined by the researcher on the basis of the types of response received. See: editing, Tabulation

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