499 Glossary packing slip. Form that lists the contents of a shipped box or container. (7) partnership. Relationship between two or more people who join to create a business. (2) patent. Type of intellectual property registration that grants a person or company the right to be the sole producer of a product for a defi ned period of time. (17) patronage buying motive. Motive based on loyalty and suggests that a customer prefers to buy a particular brand or from a particular store. (5) peer pressure. Social infl uence, mild or strong, exerted on an individual by his or her peers. (5) people skills. Ability to get along with others, to resolve issues with others, and communicate effectively with people. (10) performing. Stage four of team development when the team is functioning at its best. (16) periodic inventory control system. Method of counting inventory that involves taking a physical count of merchandise at regular periods. (7) permission marketing. The practice of receiving permission to send people company information through e-mail, text messaging, and other means also known as opt-in marketing. (9) perpetual inventory control system. Method of counting inventory that shows the quantity of items on hand at all times. (7) personal selling. Direct contact between a salesperson and a customer for the purpose of persuading the customer to make a purchase. (10) personal shopper. Helps select products for individual customers based on the customer’s personal preferences also called store consultant. (11) personnel. People who work for the retail business. (5) persuasion. Using logic to change a belief or get people to take a certain action. (9) philanthropy. Action that contributes to the improvement of the welfare of others. (1) phishing. Using fraudulent e-mails and copies of valid websites to trick people into providing private, confi dential, and personal data pronounced fi shing. (18) piracy. Illegal copying or downloading of software, fi les, or other protected material. (17) place. All of the activities in getting the product to the customer also called distribution. (5) plagiarism. Claiming another person’s material as your own. (17) planned retail purchases. Amount of merchandise that is planned for delivery during a given period. (6) planned stock. Dollar amount of merchandise required to meet sales goals. (6) planning. Deciding on the actions that will guide the store in reaching its goals. (15) plug-in. Browser software applications that read and interpret the technology. (13) point-of-purchase display. Special display usually found near a cash register where goods are purchased. (12) point-of-sale software. Electronically records each sale when it happens by scanning product bar codes. (7) pop-up menu. Navigation bar that displays a submenu when a site visitor places the cursor over or clicks on a navigational button or link. (13) pre-approach. Tasks sales associates complete before coming in contact with customers. (10) predatory pricing. Setting prices low to drive other companies out of business. (17) premium. Amount paid for insurance. (18) presentation. See visual merchandising. prestige pricing. Setting product prices high to convey quality and status. (8) price. Amount of money requested or exchanged for a product or service. (5, 8) price ceiling. Maximum prices for certain products or services that are set by the government. (17) price competition. Occurs when a lower price is the main reason for customers to buy from one retailer over another. (8) price discrimination. Selling the same product at different prices to different customers based on customers’ personal characteristics. (17) price fixing. When two or more retailers get together and agree upon a set price for similar products. (17) price floor. Minimum prices for certain products or services that are set by the government. (17) price gouging. Practice of raising prices at times of emergency or great need. (17) price lining. Setting various prices for the same type of product to indicate different levels of quality. (8) pricing objective. Goal defi ned in the business plan for the overall pricing policies of the company. (8) primary data. Data collected directly by researchers. (4) problem-solving skills. Group of skills that give a person the ability to identify a problem and take steps to solve it. (16) process. Series of actions that lead to an end, such as a sale or a return. (5) product. Anything that can be bought or sold. (6) product life cycle. Customers’ acceptance and buying levels of a product. (6) product management. Process of managing a product across its complete life cycle. (6)