Conjoint Analysis – A m ethology for representing the structure of consumer preferences,and predicting consumer’s behavior towards new stimuli. Introduced relatively recently, it is still in the process of developing its application and potentials.
Conjunctive Rule – A decision-making rule of thumb or heuristic in which the consumer is assumed to set up minimum cutoffs for each of several attributes or dimensions of a product or thing. If the brand or item does not meet all minimum criteria, it is rejected. The evaluation rule leads to an acceptable decision. For example, a conjunctive rule may be that a slice of bread must have at least 3 grams of protein, minimum percentages of specific vitamins, less than 100 mg sodium, and less than 75 calories per slice to be acceptable. A brand must meet all of these minimum attributes or it is unacceptable. A shortfall in one attribute is not offset by excessive endowment in another attribute.
Conmanship – The art of persuading people to part with their purchasing power for something which will not provide benefits, or even for nothing. It is the opposite of Salesmanship
Connect Time – In ADP, the elapsed time while using a remote terminal in a time-sharing system.
See: Answering Time, Time Slice
Conscious Parallelism – 1. (legislation definition) Evidence of concert of action implied from business behavior, such as setting parallel prices, without proof an express agreement. 2. (strategic marketing definition) the pattern within an industry in which firms prefer to “follow” other firms (typically the market leader) rather than pursue a different course. the reason for behaving in this manner is that there is little opportunity and/or little gain to be made by adopting a different strategy from the others in the industry. It is most often observed as similarity in pricing actions.
Contrail – Created by Federal law as a private, for profit corporation to take over portions of six bankrupt railroads. Primarily a freight railroad, it operates only in the Northeast, Midwest, and two provinces of Canada. It provides operating personnel and maintenance services for certain commuter lines under contract to local commuter authorities. Money received from Federal Government is mainly treated as a loan.
Conscious Parallelism – Firms doing the same thing in the market, especially as to price. As court decisions now stand, this may well be judged a form of tacit collusion, and thus be illegal even without formal evidence. See: Price Leadership
Consent Order – An action taken by a government agency prohibiting a respondent from doing what the agency considers improper. When agreed to by the respondent, it becomes binding. Such an agreement is for settlement purposes only and does not constitute an admission by the respondent that he has violated the law. Numerous such orders are currently being issued by the FTC to effect respondent’s refraining from restraints of trade, deceptive sales practices, misleading advertising, etc. Because it carries force of law. Penalties of up to $10,000 may be imposed for each violation.
Conservative Philosophy – Same as: Neutral Philosophy
Consideration – 1. (sales definition) A sales manager definition leadership style wherein sales manager are supportive, friendly, and considerate of their sales personnel; they consult with them and represent their interests; and they recognize their contributions. in essence, a sales manager using this kind of leadership style exhibits relationship-oriented behavior. 2. (retailing definition) Something of value received or given at the request of the promiser in reliance on and in return for the promiser’s promise. It maybe payment of money, or merely an exchange of promises, as when the buyer orders goods and the vendor confirms the order. the buyer promises to buy and take the goods,and the vendor promises to sell and ship them.
Consideration Set – The group of alternatives that a consumer evaluates in making a decision.
Consigned Limit – The maximum dollar amount of the consignment which a dealer may carry under the consignment terms.
Consignee – (1) The holder of goods under consignment terms. See: Consignor (2) The one to whom a shipment of goods is addressed.
Consignment– (1) A stock of merchandise advanced to a dealer and located at his place of business, but with title remaining in the source of supply. (2) A shipment of goods is addressed. 3. (channels of distribution definition) A method of selling whereby a manufacturer provides an intermediary with the merchandise while retaining title to the goods. The intermediary is free to sell the product and pay only for goods actually sold. 4. (retailing definition) The product shipped for the future or other purpose, title remaining with the shipper (consignor), for which the receiver (consignee), upon acceptance, is accountable. The consignee may be the eventual purchaser, may act as the agent through whom the sale is effected, or may otherwise dispose of the products in accordance with an agreement with the consignor.
Consignment Buying – See: Stockless Purchasing
Consignment Distributor – In the petroleum industry, same as: Commission Bulk Plant Operator
Consignment Sale – In this sale, title remains with the vendor until the goods are resold by the retailer; however, any unsold portion of the goods may be returned to the vendor without payment.
Consignment Service Station – A service station owned or leased by an oil company, operated by a manager who sells gasoline under the company’s brand name and who receives a commission on sales. Same as: Commission Operated Station
Consignment Terms – Similar to Memorandum Terms except that title remains with the vendor until the merchandise is sold by a retailer.
Consignor – (1) The holder of the title to goods shipped under consignment terms. See: Consignee (2) The originator of the shipment of goods.
Consistency Theory – A theory that purports that attitude, values, and behavior tend to be consistent in the cognitive structures of the individual.
Console – In ADP, that part of the computer which is designed to give manual control over the computer. The console provides the means of correcting errors, revising the contents of the memory storage, instructing the computer as to operations, and otherwise monitoring the computer’s circuits, registers and counters.
Consolidated Buying – Same as: Central Buying
Consolidated Car – A carload of merchandise made up a number of shippers. Sent to one location and moving at carload rates. See: Freight Forwarder, Pool Area
Consolidated Metropolitan Area – A large metropolitan complex comprising a metropolitan area of a million people or more, together with other contiguous metropolitan areas the population of each of which is at least 75% urban and meets certain minimum criteria of integration with the central metropolitan area.
Consolidator – A transportation activity service agency limited by ICC rules to matching trailer loads tendered to it, shipping them as a single shipment at a volume rate. It performs a valuable service by reducing freight costs to the shipper. It must not arrange for breaking bulk or for distribution, which would push it into freight forwarder status and a different set of regulations.
Consolidation – 1. ( physical distribution definition) The small shipments combined or consolidated into larger shipments to reduce transportation expenditures. Larger volume shipments typically qualify for quantity discounts. Generally the larger the shipment, the lower the freight rate per hundred weight. 2. (environment definition) the joining of two or more independent business firms into a new firm. Unlike merger, the acquired company does not maintain its identity.
Consolidator – A person or firm providing he service of combining small shipments into larger shipments to reduce transportation expenditures.
Conspicuous Consumption – The purchase and use of goods and services primarily to raise one’s prestige rather than to satisfy material needs.
Conspiracy – An agreement between competitors, made prior to contacting customers, concerning their relationships with the customers.
Constant Dollar Value – The adjustment of dollar values by purchasing power to eliminate or allow for the effects of price changes on data in dollars reported over time. This is sometimes referred to as real dollars.
Constant Dollars – A statistical series expressed in dollars from which the effect of inflation has been removed with respect to a base year of group of years in the past. All the dollars in the series are thus constant and comparable, and maybe subjected to relative measurement.
Constant Returns to Scale – See: Returns to Scale