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Bandwagon
the suggestion that everybody is using the product and that you should too in order to be part of the group
Old Navy, Stanley
Facts and Figures
statistics and factual information are used to prove the superiority of the product
cleaning 99% of germs, 99% of dentists recommend
Glittering Generalities
“Weasel words” are used to suggest a positive meaning without actually making any guarantee
Skincare, teeth whitening, weight loss products, eyelash serum
Plain Folk
the suggestion that the use of the product is a practical product of good value for ordinary people
Hamburger helper, jimmy dean sausage, ford, crackle barrel
Snob Appeal
the suggestion that the use of the product makes the customer part of an elite group with a luxurious and glamorous lifestyle
Cat food, Stanley
Testimonial
a famous personality is used to endorse the product
Covergirl Carrie Underwood, clothing stores, cartoon products, shoes, bandaids
Wit and Humor
customers are attracted to products that divert the audience by giving viewers a reason to laugh or to be entertained
Super bowl commercials
collateral
property that is a pledged to guarantee repayment of a loan
credit report
a record of a particular consumer’s transactions and payment patterns
credit rating
an evaluation of a consumers credit history
credit score
a numerical rating, based on credit report information, that represents a persons level of credit worthiness
cosigner
a person with a strong established credit history who signs a credit application and contract along with the borrower
capital
items owed, or assets
credit references
a reference who can provide information about your character
ex. teacher, businesses whom you have dealt with on a credit basis, and businesspeople
canceled check
a check that is stamped and perforated by a financial institution to show it’s been paid
checking fees
check to see what kind of fees are included before choosing your checking account like a monthly fee, a fee for each check you write, ATM and debit card fees
endorsement
a signature on the back of a check that entitles the payee to either receive payment or transfer it to someone else
minimum balance
you have to keep a certain amount of money in your account in order to avoid a penalty
outstanding
refers to transactions received by the bank after the closing date of your bank statement
overdraft
lack of sufficient funds to cover the full amount of a check
payee
the one to whom a check is made out
reconcile
to bring a bank statement and your own record of transactions into agreement
voided check
a check which you made a mistake and torn up, wrote in your register as void
claim
a request made by the holder of an insurance policy for payment of a loss
co-insurance
an agreement in which the insurance company and the insured person share the cost of claims after the deductible is met
deductible
a set amount an insured person must pay per loss before the insurer will pay benefits
exclusion
specific risks not covered by an insurance policy
indemnity
restoring the insured person to the financial position he or she was in before the loss occurred
insurable interest
you have a financial stake in the life or property being insured
insurance
purchased protection that guarantees to pay you in the event of certain specified losses
liability
legal responsibility to pay someone who has suffered an injury or loss caused by another
policy
the written agreement between a consumer who purchases insurance and the insurance company
pre-existing conditions
conditions existing before applying for insurance, might have a one-year waiting period before claims relating to the condition are paid
example medical conditions
premium
payments insured people make to the insurance company in exchange for coverage
base price
the price of a vehicle with its standard equipment
book value
the estimated value of a given make, model, and year of vehicle
invoice price
the price the dealer pays the manufacturer for a vehicle
lease price
a monthly payments in exchange for exclusive use of the vehicle for a specific period of time
MSRP
manufacturers suggested retail price; for a vehicle, its includes the base price, the price of options installed by the manufacturer, and the manufacturer’s transportation charge
options
features available on a vehicle at extra cost
standard equipment
featured that every model comes with
sticker price
the dealer’s initial asking price for a vehicle
benefits
sick leave, vacation leave. health insurance
bonuses
a sum of money paid to an employee in addition to regular pay
commission
a fixed percentage or amount of profit given to an employee in exchange for making a sale
contract employees
hired for a specified period of time to complete a particular project for an employee, usually at an hourly rate or a total project rate, sometime have benefits
minimum wage
the lowest hourly rate an employer may legally pay most workers
overtime
work in excess of 40 hours per week
salary
a set amount of money earned by an employee per year or other fixed length of time
temporary employees
to fill temporary vacancies or to help with additional work, paid by an employment agency and given short-term assignments at various companies, slightly lower hourly wage, no benefits
TIP
money given to an employee by customers in exchange for performing a service
to insure promptness
to insure prompt services