Ordinary Dating – This is illustrated by such terms as “1/10, net 30” of “2/10, net 60.” The two specified time elements are the cash discount and the net credit period. the cash discount may be deducted if the bill is paid within the discount period (10 days in both examples); otherwise, the full amount is due at the end of the credit period (30and 60 days in the examples given). Both the cash discount ad the net credit periods are usually counted from the date of the invoice.
Original Retail – The first price at which merchandise is offered for sale, accounted for as the retail value of receipts.
Out Sizes – The sizes that are either very large or very small and, if offered at all, are offered in very limited depth because of the thin market demand for them. Some stores specialize in fringe sizes or out sizes -e.g.,tall women’s shops, petite size shops.
Out Supplier – A firm not currently supplying the company nor currently on its approved vendor list.
Out-of-stock Costs – The costs that can be directly or indirectly attributed to not having a product available when the buyer wants to purchase the product. They may include cost of the lost future sales.
Outlet Store – 1. A store specializing in job lots and clearance merchandise. 2. A store controlled by a vendor todispose of surplus stocks or for other reasons to be in the retail business.
Outlier – An observation so different in magnitude from the rest of the observations that the analyst chooses to treat it as a special case.
Outlined Presentation – A systematic sales presentation that lists the most important sales points that a salesperson needs to make.
Output Evaluation Measure – An objective measure of sales force performance including number of orders; average size of orders; number of canceled orders; and number of active, new, lost, overdue, and prospective accounts.
Outshopping – A practice whereby residents of smaller communities to shop when prices become too high or assortments are not available in the smaller communities. A situation in which customers are shopping in other areas because their needs are not being met locally.
Over, Shot, And Damage (OSD) – A traditional tern used in transportation and warehousing to describe an inventory situation. After a physical inventory, it is possible to be “over” (have too much in inventory), be “short” (have a shortage of inventory),or have damaged inventory that is not usable. The same term may be applied to a shipment received by the buyer or an intermediary. It may be an accounting adjustment in some systems.
Overage – The amount by which a physical inventory exceeds the book inventory figures, as opposed to shortage. It also may refer to cash excess.
Overbought – 1. A condition in which a buyer has become committed to purchases in excess of planned purchase allotment for a merchandise in excess of demand.
Overcoming Objections – The process of successfully handling reasons given by prospects for not buying the salesperson’s offering.
Overcoverage Error – A nonsampling error arises because of the duplication of elements in the list of sampling units.
Overprivileged Family – A family in a social class that has more than enough money to purchase the necessities, e.i.,shelter, clothing, and transportation, appropriate for its class status. An overpriviliged family is able to acquire luxuries above and beyond daily living expenses and usually is defined as having 25 to 30 percent greater income than the median for the social class.
Overstored – A market condition that exists when a geographic market area has too many stores to yield a fair return on investment for many of them.
Package – The container used to protect, promote, transport, and/or identify a product. The package may vary from a plastic band wrap to a steel or wooden box or drum. It may be primary (contains the product), secondary (contains one or more primary packages), or tertiary (contains one or more secondary packages).
Package Delivery Service – A transportation service offering that requires packages to conform to specialized size and weight restrictions. The packages may be moved by ground or air transportation, within a variety of delivery schedules. Prominent package delivery service carriers include Federal Express )FedEx), United Parcel Service (UPS), and the U.S. Postal Service.
Packaged Good – A good that is usually sold in smaller packages, carries a low unit price, is distributed through food and drug stores, is heavily promoted (usually in mass media), and is bought and consumed frequently.
Packaging – The process by which packages are created. Occasionally, it is used as synonymous with package.
Pallet – A platform usually made out of wood, but also made out of other materials, upon which product is stacked to provide a unit load in the transportation and distribution system.
Palming Off – A practice in which a retailer represents merchandise as being made by a firm other than the true manufacturer.
Panel (omnibus) – A sample of respondents who are measured repeatedly over time but on variables that change from measurement to measurement.
Panel (true) – A sample of respondents who are measured repeatedly over time with respect to the same variables.
PAR ROI – A regression model based on the PIMS program data that relates ROI (return of investment) to a set of independent variables. PAR ROI specifies the ROI and associated cash flow that could be expected for a business with a given market position, competitive conditions, and other specified conditions. In addition to allowing a comparison of PAR (based on the businesses in the PIMS program sample used for analysis) and actual ROI that various factors (such as attractiveness of the business environment, strength of competitive position, effectiveness of the use of investment, etc.)
Parallel Pricing – The practice of following the pricing practices of other organizations, particularly competitors.