marketing 13, 21, 26

Blog

a regularly updated website that has information or articles written in an informal or conversational style

Infographics

charts or diagrams that communicate information customers need to know

Podcasting

digital recordings or broadcasts that cover relevant topics, answer questions, or even involve interviews of people in the industry. Podcasts are available to download or stream on a device like a phone, computer, or tablet.

Quote Images

Photographs with uplifting/relevant quotes posted on social media platforms.

Vlogging

a video post that can results in a deeper connection with the audience. Vlogs can be posted on the businesses Blog, Social Media accounts, or the Funeral home’s YouTube Channel.

Social Media

as defined by Wikipedia -interactive technologies and digital channels that facilitate the creation and sharing of information, ideas, interests, and other forms of expression through virtual communities and networks

YouTube

as defined by Wikipedia - an American online video sharing and social media platform owned by Google.

Website

as defined by Wikipedia - (also written as web site) is a collection of web pages and related content that is identified by a common domain name and published on at least one web server

Advertising

making the public aware of the services or commodities that a business has for sale.

Brand (Trademark)

A name term, design, symbol, or any other feature that identifies one seller’s goods or services as distinct from those of other sellers. The legal term for brand is Trademark.

Census of Business

A source of market data that explains where certain businesses are located.

Census of Housing

A source of market data that keeps track of new home sales by region and/or the construction of new houses by region and specific area.

Census of Manufacture

A source of market data that explains where manufacturers are located.

Census of Population

A source of market data that complies population statistics and distribution or population by region, area, etc.

Demographics

the statistical study of human populations with respect to their size and density, distribution, composition, and income

Economic base

the wealth produced in or near a community that provides employment and income to the local population.

Good Customer Service

means to exceed the customer’s expectations.

Marketing

Any activity a funeral home engages in to create public awareness, generate new business, or retain present business.

Market

A group of potential customers having purchasing power and unsatisfied needs.

Public Relations

inducing the public to have a positive feeling about a business. A well-organized public relations program can reinforce a funeral home’s advertising, increase the credibility of the firm in the eyes of the public, and position the funeral home in the community as a leader in the field.

Publicity

The firm’s name, and that of the staff, consistently reported in the local press, on radio or television establishes the firm as a professional, reputable authority.

ABC Method

a method of classifying inventory items with categories that are of high value, less costly, and/or low cost items.

Average (Mean)

the sum of a group of numbers divided by the number of units.

Bier

typically a stand upon which a casket is placed for viewing and services, but sometimes a means of merchandise display.

Bi-Unit Pricing

a method of price quotation showing separately the price of the services and the price of the casket.

Cash Discount

a reduction of the price given for payment of an account within the time limits established by the sales contract.

Consignment

the funeral director does not have to pay for the merchandise that will be displayed until it is sold.

Cash advance items

any item of service or merchandise obtained from a third party and paid for by the funeral provider on the purchaser’s behalf.

Casket Rack

a device upon which two or three caskets are placed, one on top of the other for display.

Casket Stand (Casket Standard)

the stand or support upon which a casket rests in the selection room.

Church truck

a wheeled collapsible support for the casket, used in the funeral home, church, or home.

Competition based pricing

setting prices based on the competitor’s strategies, prices, costs, and market offerings.

Consecutive method

placing caskets for selection in their order of increasing or decreasing value.

Cost based pricing

pricing based on the costs of producing, distributing, and selling the product, plus, a fair rate of return for effort and risk.

Consumer Value Index (CVI)

the percentage derived by dividing the wholesale amount of the merchandise by the retail price of the merchandise.

Customer value-based pricing

setting prices based upon the buyers perceived value.

Declining Price Structure

a pricing method where there is an inverse relationship between the markup and the price of the casket. Higher priced caskets given a lower markup.

Demonstration Group (Educational Group)

three or four caskets utilized to educate the selecting party regarding the elements of casket construction.

Direct Selection Room Procedure

presenting caskets whereby the funeral director remains in the selection room throughout the entire selection process.

Direct Lighting

illumination directly shining on an object.

Economic Order Quantity (EOQ)

the quantity to be purchased which minimizes total costs.

Fluorescent Lighting

the illumination produced by a tubular electric discharge lamp; the fluorescence of phosphors coating the inside of a tube.

Fixed dollar amount

pricing method in which the same dollar amount is added to the wholesale cost of merchandise.

Fixed Multiple or Times Factor

a price determination method whereby the markup is multiplied by a constant factor.

Functional Pricing

a method of price quotation by which the charges are broken down into several component parts, such as professional service, facilities, automobile, and merchandise.

Foot Candle

the amount of illumination produced by a source of one candle at a distance of one foot.

Fractional display

use of portions of caskets (1/2, 1/8) in the selection room versus full sized caskets.

Gross Casket Profit (Margin)

measures profit of each casket to the funeral director/firm.

Graduated Recovery

a pricing method where the mark up varies. Higher priced caskets are given a higher mark up.

Halogen lighting

a high intensity light source that produces a white light approximating natural daylight

Inventory

those goods or stock of goods which are held for resale.

Inventory Turnover

the number of times the average inventory has been sold or used up during a period.

Incandescent Lighting

the illumination resulting from the glowing of a heated filament.

Indirect Lighting

reflected illumination of an object.

Indirect Selection Room Procedure

the method of selling caskets whereby the funeral director does not stay in the selection room during the selection process, but instead leaves after his introductory presentation.

Itemization

a method of pricing by which each unit of service and merchandise is priced separately.

LED lighting

light emitting diode lighting, a semiconductor device that converts electricity into light; noted for high energy savings and long-lasting durability.

Mark Up

difference between merchandise cost and selling price, i.e., gross margin

Mark Down

reduction of selling price.

Merchandise

Goods that are bought and sold.

Merchandising

The purchase, display, and sales of goods/merchandise.

Merchandise Value Ratio (MVR)

the relationship between the wholesale cost of the merchandise and the total cost of both service and merchandise to the consumer.

Median

a value in an ordered set of values which represents the midpoint, whereby there are an equal number of values above and below the midpoint value.

Mode

the number that appears most frequently in a listing of numbers.

Natural lighting

illumination by the sun.

Package Pricing

a method of pricing where certain items of service and merchandise are grouped together and sold at a specific price.

Price Quotation

method by which prices are explained to the consumer (example, itemized GPL required by FTC, but package pricing allowed)

Price determination

method used by management to establish the selling price for services and merchandise.

Quantity Discount

reduction in the amount of a bill when a minimum quantity of merchandise has been ordered.

Quartile

a division of the total into four intervals, each one representing one-fourth of the total.

Rebate

a return of a portion of a payment.

Range

The upper and lower limits of a series of numbers

Sales Frequency

the number of times sales in a given price bracket occur over a fixed period of time.

Sales Frequency Chart

a chart on which all sales are listed showing the number of sales in any sales bracket.

Unit Pricing

a method of price quotation which creates one total price package for both service and merchandise.