Pharm Ad Finals 1

the present property and profit belong to a common fund for dividend purposes in the future

each of the partners is jointly liable for any or all outstanding financial obligations of the business enterprise

each partner is equally liable for the shortcomings and shortfalls of the business up to a fix amount only

three forms of legal business organizatiob

an owner who takes an active role in the business but doesn't want to disclose his identity

a partner who also takes an active role in the business but may be known by the public

he plays no active role in the business and is unknown to the public

an individual who does not own the business but suggests by words or deeds that he is a partner

one who has been with the partnership for a long time and generally owns a large share of the business

has been in the business for a short period of time and not expected to assume a great responsibility in major decisions

contributions to the business is in the form of money or currency

the partners contribution are in the form of his own labor or industry to the business

a document that sets forth all the terms under which a partnership is to operate

pertains to how much each party contribute to acquire the property and to pay the on going expenses

parties acquire equal interests, regardless of how much each contributes

unless the parties restrict the right to sell or transfer an interest, any owner has the right to sell their interest to a stranger or demand sale of the entire property

dictate the flow of work to become sytematic

pertains to how space is allocated if co owners occupy the property at the same time the liability

pertains to how to end the relationship and dispose of the property

most complex form of organization

owned by the government

a family type of corporation where only the members of one family are the members

have big number of stockholders

a relationship between the seller and the buyer where the seller grants the buyer the rights and license to sell a product or service developed by the franchisor

identified with the tradename without having to distribute the product exclusively under the manufacturer's name

purchase the right to resell specific products that are sold through an exclusive distribution network under the manufacturer's name

supplies a complete business format that includes every aspect of the business

legal requirements for single proprietorship

DPP

key advisors within the industry

category management tools

focuses on the performance of product categories rather than on individual brands

Legal requirements for corporation

Diagram to locate merchandise, how customers circulate and how much space is utilizied

No aisles or straight lines; fixtures at angles

Fixtures ran parallel to walls, with clean straight lines for maximum exposure to merchandise

Main aisle that circles the store with fixtures perimeter to the wall

Single aisle on either side of which are merchandise displays

After the entrance door, surrounded by merchandise

Space just upon entering the fron door, usually 5-15ft

Area for customer transition

Merchandise displays that slow down customers; usually for seasonal or new merchandise and rotation items

Key merchandising area located at the right side of DZ, displays of high demand or increase profit items

Located at the left side of the store with interesting displays of impulsive goods for continued shopping

BIR

Found near aisles to encourage impulsive purchases

Are in a fixed location or immobile which includes sink, medicine cabinets, dispensing counters

Three elements of lighting

Type of lighting in which it consists of direct, indirect and semi direct type of lighting

Highlights a specific group of merchandise like display windows which gives attractive lighting effects

Decorates or gives ornament to displays like neon signs or translucent glass blocks with colored lights

Pleasant shades and proper combination of color ceiling, walls and floor add to the attractiveness to the store

To reduce extremes in temperature, for added comfort of employees and customers

Provides more quiet and less nerve racking working and more pleasant purchasing conditions

All activities in aquiring particular goods and making them available at the right place, time and price in a quantity that enables a retailer to reach its goals

TIN

For retailers who frequently adjust displaces, shelf-space and merchandise based on consumer's wants/needs

For retailers who carry complementary goods and services to encourage shoppers to but more

Diversification of product line

Assures that there is a similarity in active ingredients and the same activity which ellicits effectiveness

Deciding on when certain merchandise is purchase, displayed and sold

How the stock is allocated either between stores or once in the store how much is displayed on shelves or in storage area

An estimate prediction of future development in business such as sales, expenditures and products

Makes the business survive

These are regular items found in the retail store

These are unpredictable items that cost cynical sales due to changing tastes and lifestyles

PTR

Only sell at specific dates

SEC

VAT

Critical element greatly affecting cost, has a major impact on overall profit, affected by globalization

Careful study should be given to the arrangement of the store in order to increase and facilitate the transaction of business; maximize the utilization of space

The customers are made to pass as many tempting display as possible on his way to purchase

The merchandise are placed on open tables or open boxes so that they may be bought most conveniently by the customers