Flashcards for General Merchandise and Event Planning Notes

These flashcards cover key vocabulary and concepts related to general merchandise and event planning, aiding in exam preparation.

General Merchandise

Any product commonly found in retail stores and intended for everyday use, excluding food and grocery products.

One-stop shopping experience

Providing a wide array of goods in a single location for consumer convenience.

Cross-selling

The practice of selling additional products to customers who initially come for one item.

Market trends

The general direction in which a market is moving, which influences what products retailers choose to sell.

Target market

A specific group of consumers a business aims to reach with its products or services.

Brand loyalty

The tendency of consumers to continue buying the same brand's products over others.

Department stores

Retail establishments that sell a wide variety of goods, including clothing, electronics, and home goods.

Discount stores

Retail outlets that sell products at lower prices, often by accepting lower margins.

E-commerce

Buying and selling goods or services over the internet.

Customer Relationship Management (CRM)

Strategies and technologies used to manage interactions with current and potential customers.

Integrated Marketing Approach

A marketing strategy that combines both digital and traditional channels to reach consumers.

SEO (Search Engine Optimization)

The practice of optimizing web content to increase traffic from search engines.

Social Commerce

Using social media platforms to facilitate sales and marketing activities.

Event planning business

A company that assists individuals or organizations in planning and executing events.

Venue

The place where an event is held.

Budget

A financial plan that estimates income and expenses for a specific period.

Logistical support

The management of how resources are acquired, stored, and transported to their final destination.

Networking

Building relationships and connections that may help with business opportunities.

Event Coordinator

An individual who organizes and arranges all aspects of an event.

Creative

The ability to invent or imagine new ideas, a crucial skill in event planning.

Payment structure

The method by which payments are organized and collected in a business.

Local laws

Regulations and statutes that govern how businesses operate in a specific locality.

Community events

Local gatherings designed to foster community and bring people together.

Market research

The process of gathering, analyzing, and interpreting information about a market.

Financial demographics

Statistics that identify the economic characteristics of a population.

Professional certification

A credential awarded to individuals who have demonstrated a certain level of competence in a professional field.

Client satisfaction

The extent to which a customer's expectations of a service or product have been met.

Business insurance

Coverage that protects businesses against various risks such as property damage or legal liability.

Event vendors

Suppliers of services and goods used in organizing an event.

User-friendly website

A website designed to be easy to navigate and understand for users.

Aesthetics

The visual appeal of a product, service, or environment.

Online presence

The visibility of a business or individual on the internet.

Marketing strategy

A plan designed to promote and sell a product or service.

Vendor contracts

Agreements that define the terms of services provided by vendors.

Promotional events

Events organized to promote a product, service, or brand.

Event scope

The detailed outline of what the event will entail, including costs and timelines.

Regulatory compliance

Conforming to laws, regulations, and guidelines relevant to a business.

Home-based businesses

Businesses operated from the owner's home.

Life cycle of an event

The various stages of planning, executing, and evaluating an event.

Feedback

Information from customers about their experiences with a product or service.

Customer segmentation

The process of dividing a customer base into groups based on specific criteria.

Networking opportunities

Events or situations that facilitate building relationships for business.

Catering services

Companies that provide food and beverage services for events.

E-commerce platforms

Websites and services that allow businesses to sell products online.

Budget management

The process of planning and controlling the budget for an event.

Guest registry

Records of all invited guests and attendees for an event.

Transportation logistics

The planning and management of how guests will travel to an event.

Seating assignments

Pre-arranged seating for guests at an event.

Success metrics

Criteria used to measure the effectiveness of a marketing strategy or event.

Client consultations

Meetings with clients to discuss their needs and preferences.

Delegation

Assigning tasks and responsibilities to others.

Event sponsorship

Financial support from a business in exchange for marketing and promotional opportunities.

Client referrals

Recommendations made by satisfied customers to prospective clients.

Marketing collateral

Printed materials used to promote a business, product, or service.

Creative solutions

Innovative ways to solve problems or meet needs in event planning.

Event themes

The central idea or concept that guides the design and planning of an event.

Crisis management

The process of dealing with unexpected emergencies during an event.

Strategic partnerships

Collaborations between businesses that are mutually beneficial.

Event marketing

The process of promoting events to raise awareness and attendance.

Industry trends

Current tendencies or shifts in the event planning sector.

Talent acquisition

The process of attracting and hiring professionals in the event planning field.

Budget estimates

Projected costs needed to plan an event.

Creative briefs

Documents that outline the goals and expectations for a creative project.

Problem-solving techniques

Approaches used to address and resolve issues that arise during events.

Freelance event planner

An independent contractor who provides event planning services on a per-project basis.

Market positioning

The process of establishing a brand or product in the market relative to competitors.

Event timelines

Schedules that outline when each aspect of an event should take place.

Business startup

The process of establishing a new business.

Education requirements

The academic qualifications needed for a specific career.

Conventional events

Traditional, often formal, gatherings that follow established formats.