bartering system

(noun)

Barter is a medium of exchange by which goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money.

Related Terms

Examples of bartering system in the following topics:

  • Defining Price

    • Bartering is an exchange of goods or services in return for goods or services.
    • Derived from a bartering system (exchanging goods of equal value), the monetary system of each society provides a more convient way to purchase goods and accumulate wealth.

  • Value of Retailing

    • Whether selling home-made wares at a marketplace, from a cart or servicing a community from a workshop, individuals and businesses offer goods and services in exchange for cash or barter.
    • Retailers are part of an integrated system called the supply chain.
    • The supply chain is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from suppliers to consumers.

  • Decision Support Systems

    • One example of this is a decision support system (DSS) .
    • Decision support systems can be either fully computerized, human, or a combination of both.
    • Decision support systems have become critical and useful across all types of business.
    • Companies with comprehensive decision support systems have a significant competitive advantage.
    • Demonstrate the uses and effectiveness of decision support systems from a marketing perspective

  • Marketing Information Systems

    • A marketing information system (MIS) is a management information system designed to support marketing decision making.
    • A marketing information system (MIS) is a management information system designed to support marketing decision making.
    • American academic Philip Kotler has defined it more broadly as "people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. " Not to be confused for a management information system, marketing information systems are designed specifically for managing the marketing aspects of the business.
    • This is an example of a marketing information system for agriculture.
    • Show the use of marketing information systems used in research and consumer marketing

  • Yield Management Systems

    • Yield management systems give managers optimal control of inventory to sell it to the right customer at the right time for the right price.
    • Firms that engage in yield management usually use computer yield management systems to do so.
    • The system will try to maintain a distribution of purchases over time that is balanced as well as high.
    • While yield management systems tend to generate higher revenues, the revenue streams tend to arrive later in the booking horizon as more capacity is held for late sale at premium prices.

  • Effects of Technology on Services

    • Today's buying and selling of products or services are conducted over electronic systems on the Internet and via other computer networks.
    • Technologies such as mobile commerce,electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, e-mail, mobile applications, social media, telephones and automated data collection systems are commonplace and the new normal for the business world.
    • It's core is a contact management system for tracking and recording every stage in the sales process for each prospective client, from initial contact to final disposition.
    • These systems track clicks, responses, leads, deals.
    • Automation is the use of machines, control systems and information technologies to optimize productivity of goods and the delivery of services.

  • The Rate of Adoption

    • The rate of adoption is defined as the relative speed with which members of a social system adopt an innovation.
    • The rate of adoption is defined as the relative speed with which members of a social system adopt an innovation.
    • It is usually measured by the length of time required for a certain percentage of the members of a social system to adopt an innovation.

  • The Diffusion of Innovation

    • He said diffusion is the process by which an innovation is communicated through certain channels over time among the members of a social system.
    • The rate of adoption is the relative speed with which an innovation is adopted by members of a social system. "
    • Social system - According to Rogers, a social system is "a set of interrelated units that are engaged in joint problem solving to accomplish a common goal. "

  • Motivating and Compensating Salespeople

    • Reward systems include compensation, bonuses, raises, job security, and benefits.
    • The first consideration for designing a compensation system is that the base pay system needs to be internally equitable.
    • The second consideration in creating a base pay system is external equity.
    • Most compensation systems include "variable pay."
    • Long-term incentives are also a part of reward systems.

  • The Communication Process

    • Communication systems also exist within an environment such as a corporate office or school.
    • The environment is everything internal and external to the communication system that can affect the system (family, school, competing advertisements, and so on).
    • Each of the factors within the environment interacts with the communication system to a different degree.