Oligopoly – A market situation in which there are so few sellers that each anticipates the impact of its marketing actions on all competitors. The products can be either differentiated or undifferentiated.

Oligopsony – A market situation in which there are so few buyers that each anticipates the impact of its marketing actions on the others.

On Order -When the retailer has ordered merchandise and it has not been received, it is considered to be on order and thus a commitment against a planned purchase figure. Thus, the open-to-buy figure is affected by the amount of the on order dollars.

On-Pack Premium -A gift attached to the product or product package in some way such as banding, taping, or other adhesive. It is used to influence product purchase or reward to the purchaser.

On-Percentage – The result of multiplying together the complements of a given series of discount percentages. To find the net merchandise price, the list price is multiplied by the on-percentage.

One Hundred Percent Location -The retail site in a major business district that has the greatest exposure to a retail store’s target market customers.

One Price Policy -A policy that, at a given time, all customers pay the same price for any given item of merchandise.

One Price Retailer – A store that offers all merchandise at a fixed price, the same to all customers, as opposed to bargaining or negotiating a price.

Open Account – The sale of goods on credit. The seller gives the buyer no written evidence of indebtedness; instead the seller debits the buyer’s account; open credit.

Open Dating – The practice of putting onto a product information that reveals the date beyond which it should no longer be sold or used. this applies primarily to perishable product, those that lose some important attribute over time while awaiting sale in the channel between maker and user. open dating is common to certain industries(for example, dairy products and pharmaceuticals) and is sometimes mandated by law.

Open Order – An order sent by a store to a market representative to be placed with whatever vendor the latter finds can best fill it. In department store buying, it is the authority granted to a resident buyer to purchase merchandise required by the store.

Open Rate – The highest rate charged for space or time by an advertising vehicle.

Open Stock – The items kept on hand in retail stores and sold either in complete sets or in separate pieces -e.g., china, glassware.

Open-Code Dating – a date marked on food products to indicate the last day that the food can be sold in the store. It sometimes indicates use dates.

Open-Date Labeling – A date marked on food products to indicate the last day that the food can be sold in the store.

Open-Ended Question – A question characterized by the condition that respondents are free to reply in their own words rather than being limited to choose from among a set of alternatives.

Open-to-Buy (OTB) – The residual balance of current purchase allotments; total planned purchase for a period, less receipts and merchandise on order.

Open-to-buy Report – A statement of existing or expected relations between dollar inventory and sales, used to calculate open-to-buy amounts.

Operant Conditioning – The process of altering the probability of a behavior being emitted by changing the consequences of the behavior.

Operational Definition – A definition of a construct that describes the operations to be carried out in order for the construct to be measured empirically.

Opportunity Cost – The cost attributable to doing a thing caused by foregone opportunities that are sacrificed in order to do this one thing.

Optical Character Recognition (OCR-A)-An industry-wide classification system for coding information onto merchandise. It enables retailers to record information on each SKU, when it is sold, and transmit the information to a computer.

Option – A contract that allows the holder to buy or sell a specific stock at a fixed price at or before a stated maturity date.

Options Pricing Models – A class of models designed to calculate the value of an option. Comment: The empirical adequacy of these models is an unresolved issue in financial economics.

Order Entry – The order entry phase is the beginning phase of the order cycle process. Order entry refers to the process of actually entering an order into the seller’s order processing system. this may be done by a salesperson writing an order, a customer ordering b phone, a telemarketing solicitation, or by the buyer’s computer communicating directly with the seller’s computer, as in an electronic data interchange system.

Order Processing – The system of the firm that generally refers to the way orders are recorded by the firm and how this information is used to provide customer service, and manage various functional elements of the business. it includes the management of the order entry process as well as the information flows that surround and support the order fulfillment objectives of the firm.

Order Register – A form or computerized record of orders placed with vendors. It includes the date of each order, the name of the vendor, the total amount of each order, the month in which shipment is to be made, the amount to be delivered each month, and a serial number.

Order-Shipping-Billing Cycle – This describes the paperwork or information cycle of the order processing system.

Ordinal Scale – A measurement in which numbers are assigned to attributes of objects or classes of objects to reflect the order (for example, more than, greater than) of the objects.

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