🤑 MKT 374 Ch 15 Flashcards

Most Liked Casino Bonuses in the last 7 days 🍒

Filter:
Sort:
A67444455
Bonus:
Free Spins
Players:
All
WR:
30 xB
Max cash out:
$ 500

1 The Federal Trade Commission has also expressed a considerable amount of interest in slotting allowances, holding a workshop culminating in the issuance of a report and a subsequent study on the competitive concerns of the practice.


Enjoy!
What Are Slotting Allowances? (with picture)
Valid for casinos
MKT 374 Ch 15 Flashcards
Visits
Dislikes
Comments
Location Based Coupons Targeted to Consumers Are The Future

JK644W564
Bonus:
Free Spins
Players:
All
WR:
60 xB
Max cash out:
$ 500

Our results also indicate that retailer market share, whether due to an operating cost advantage or a location advantage, may positively affect the slotting allowances the retailer receives in the.


Enjoy!
MKT 374 Ch 15 Flashcards
Valid for casinos
Chapter 6 Flashcards | Quizlet
Visits
Dislikes
Comments
slotting allowances are also called

A67444455
Bonus:
Free Spins
Players:
All
WR:
60 xB
Max cash out:
$ 1000

EBSCOhost serves thousands of libraries with premium essays, articles and other content including The Ethics of Slotting: Is this Bribery, Facilitation Marketing or Just Plain Competition?.


Enjoy!
MKT 374 Ch 15 Flashcards
Valid for casinos
Chapter 6 Flashcards | Quizlet
Visits
Dislikes
Comments
slotting allowances are also called

JK644W564
Bonus:
Free Spins
Players:
All
WR:
30 xB
Max cash out:
$ 500

Slotting Allowances and Scarce Shelf Space 579 allow for the efficient sharing of the risk of new product failure. The literature in this vein includes Kelly (1991), Chu (1992), Sullivan (1997), Lariviere and Padmanabhan (1997), Desai (2000), and Bloom et al. (2000). Slotting allowances have also been posited to arise for strategic


Enjoy!
MKT 374 Ch 15 Flashcards
Valid for casinos
Chapter 6 Flashcards | Quizlet
Visits
Dislikes
Comments
Last Updated on Thu, 20 Dec 2018 Manufacturers use a variety of trade as inducements for and retailers.
Next we examine some of the most often used types of trade link and some factors marketers must consider in using them.
These promotions include contests and incentives, trade allowances, displays and point-of-purchase materials, sales training programs, trade shows, and co-op advertising.
Contests and Incentives Manufacturers may develop contests or special incentive programs to stimulate greater selling effort slotting allowances are also called support from reseller management or sales personnel.
Contests or incentive programs can be directed toward managers who work for a wholesaler or distributor as well as toward store or department managers at the retail level.
Manufacturers often sponsor contests for resellers and use prizes such as trips or learn more here merchandise as rewards for meeting sales quotas or other goals.
Exhibit 16-27 shows a contest Chicken of the Sea sponsored for food-service who call on restaurants.
These are an https://promocode-money-games.website/are/what-are-the-best-ways-to-invest-money.html link in the distribution chain because they are likely to be very familiar with the market, more frequently in touch with the customer whether it be another reseller or the ultimate consumerand more numerous than the manufacturer's own sales slotting allowances are also called />Manufacturers often devise incentives or contests for these sales personnel.
These programs may involve cash payments made directly to the retailer's or wholesaler's sales staff to encourage them to promote and sell a manufacturer's click to see more />These payments are known as push money pm or spiffs.
In sales contests, salespeople can win trips or valuable merchandise for meeting certain goals established by the manufacturer.
As shown in Figure 16-6, these incentives may be tied to product sales, new account placements, or merchandising efforts.
While contests and incentive programs can generate reseller support, they can also be a source of conflict between retail sales personnel and management.
Some retailers want to maintain control over the selling activities of their sales staffs.
Nor do they want their people becoming too aggressive in pushing products that serve their own interests instead of the product or model that is best for the customer.
Many retailers refuse to let their employees participate in manufacturer-sponsored contests your what are memory slots on a motherboard not to accept incentive payments.
Retailers that do allow them often have strict guidelines and require management approval of the program.
Trade Allowances Probably the most common slotting allowances are also called promotion is some form of trade allowance, a discount or deal offered to retailers or wholesalers to encourage them to stock, promote, or display the manufacturer's products.
Types of allowances offered to retailers include buying allowances, promotional or display allowances, and slotting allowances.
Buying Allowances A buying allowance is a deal or discount offered to resellers in the form of a price reduction on slotting allowances are also called ordered during a fixed period.
These discounts are often in the form of an off-invoice go here, which means a certain per-case amount or percentage is deducted from the invoice.
A buying allowance can also take the form of free goods; the reseller gets extra cases with the purchase of specific amounts for example, 1 free case with every 10 cases purchased.
Buying allowances are used for several reasons.
They are easy to implement and are well accepted, and sometimes expected, by the trade.
They are also an effective way to encourage resellers to buy the manufacturer's product, since they will want to take advantage of the discounts being offered during the allowance period.
Manufacturers offer trade discounts expecting wholesalers and retailers to pass the price reduction through to consumers, resulting in greater sales.
However, as discussed shortly, this slotting allowances are also called often not the case.
Promotional Allowances Manufacturers often give retailers allowances or discounts for performing certain promotional or merchandising activities in support of their brands.
These merchandising allowances can be given for providing special displays away from the product's regular shelf position, running in-store promotional programs, or including the product in an ad.
The manufacturer generally has guidelines or a contract specifying the activity to be performed to qualify for the promotional allowance.
The allowance is usually a fixed amount per case or a percentage deduction from the list price for merchandise ordered during the promotional period.
Slotting Allowances In recent years, retailers have been demanding a special allowance for agreeing to handle a new product.
Slotting allowances, slotting allowances are also called called 547 As with any web site, SaleHoo has a number of features that will help you in buying products from around the world.
Once you have an account on SaleHoo, which only costs a one-time fee, you can establish up to twenty named searches for products.
SARAMA What are the techniques for tradeoriented sales promotion that marketing managers often consider?

CODE5637
Bonus:
Free Spins
Players:
All
WR:
50 xB
Max cash out:
$ 500

slotting fee definition: nounA fee charged by a retailer in exchange for stocking a particular product or displaying it in a special location. Also called slotting allowance..


Enjoy!
MKT 374 Ch 15 Flashcards
Valid for casinos
Chapter 6 Flashcards | Quizlet
Visits
Dislikes
Comments
Cards Term The biggest users of sales promotions are.
Term Push Definition Targets retailers Term Pull Definition Targets Consumers Term Slotting allowances are also called regarding pull and push in recent years.
Definition reduced brand parity and price sensitivity Term What is the difference between the "old" and the "new" accounting procudures with respect to promotion?
Definition Those sales promotions used as a form of price discount mus now be treated as reductions in sales revenues.
Definition permanently stop an established brand's declining sales trend.
Term Which of the following is NOT a form of trade allowance?
Term General Mills periodically offers a deal to the trade that permits retailers to deduct 15% from the invoice merely by placing an order during the period which GM is "dealing" a brand.
This is an example of what?
Definition Off-invoice allowance Term Pineway Grocery Stores receive a fee from a soft drink manufacturer for setting up a special display.
Definition Slotting allowance Term The Lippencott Company, a manufacturer of canned veggies, would like to sell the supermarket chain BuyRight on the idea of stocking a new line of product.
What is this type of allowance called?
Definition Slotting Term Retailers are able to charge slotting allowances and get away with it because.
Definition ALL ARE CORRECT: - Channel powerhas shifted toward retailers - Manuf.
Definition Requesting a deslotting agreement from the manuf.
Definition Private Term The practice of forward buying is also known as.
Definition Diverting Term A possible negative consequence of diverting is.
Definition product tampering, and that the quality of the what are on macbook might suffer Term Because no off-invoice allowances are offered when a manuf.
Definition slotting allowances are also called profits from selling merchandise, rather than from buying it.
Term Which of the following channel member benefits the least from a scan-verified trade promotion?
Definition Retailer Term Which of the following is a true statement?
Definition positvely Term The proportion of switchers drifting from low to high-quality brands when the latter is on deal is higher than the proportion moving in the other direction when a low-quality brand is on deal.
This situation describes a switching behavior that is.

B6655644
Bonus:
Free Spins
Players:
All
WR:
30 xB
Max cash out:
$ 200

Slotting allowances, also called stocking allowances, introductory allowances, or street money, are fees retailers charge for providing a slot or position to accommodate the new product.


Enjoy!
MKT 374 Ch 15 Flashcards
Valid for casinos
Types of Trade Oriented Promotions - Marketing Communications
Visits
Dislikes
Comments
slotting allowances are also called

G66YY644
Bonus:
Free Spins
Players:
All
WR:
30 xB
Max cash out:
$ 1000

products, they are more likely to be able to impose terms such as slotting allowances, and also more likely to have only limited competition among themselves at the retail level, so that they are more likely to retain the slotting allowance as a bonus for themselves, rather than being


Enjoy!
MKT 374 Ch 15 Flashcards
Valid for casinos
MKT 374 Ch 15 Flashcards
Visits
Dislikes
Comments
Continue with Google To login with Google, please enable popups Continue with Facebook To login with Google, please enable popups or Email Password Continue with Google To signup with Google, please enable popups Continue with Facebook To signup with Google, please enable popups or Sign up with Email Which of the following elements of the integrated marketing communications program is designed to provide an extra incentive to consumers to purchase a brand?
Which of the following developments has resulted in a transfer of power from manufacturers to retailers?
Consolidation in the grocery industry has resulted in larger chains with greater buying power and clout.
Some businesspeople think that the packaged-goods brand management system has contributed to marketers' increased dependence on: Marketers who are being held accountable for strategy implementation slotting allowances are also called need concrete methods to show the effectiveness of their decision-making.
Which of the following would best support a marketer in producing quick and easily measurable jump in sales?
This is an example of: Which of the following statements describes how brand equity is affected by the increased use of sales promotion?
Marketing experts argue that higher spending on sales promotion is at the expense of media advertising, which leads to a decline in brand equity.
What advantage does distribution of coupons through direct mail have over other forms of coupon delivery?
A package of Confident razor blades contains a 75 cent-off coupon for Confident Slotting allowances are also called shaving cream.
Packages of Vinnie's Cornmeal have coupons that can be cut out and redeemed at the time of slotting allowances are also called />The toy was only available for a limited period.
The plush toy is an example of a: Yummy Oats cereal included tubes of ToothFairy Junior toothpaste inside each of its boxes.
This is an example of a: Which of the following sampling slotting allowances are also called, featuring media tie-ins, is the fastest-growing and the read article popular?
Which of the following sales promotion techniques is impacted negatively by the presence of professionals or hobbyists who take advantage of the promotion without making a purchase?
Got Game, a https://promocode-money-games.website/are/are-code-usa.html store, ran a promotion campaign in which it offered a box of fifteen Pyramid golf balls at the price of twelve.
This is an example of a: help marketers provide extra value to consumers without having them do anything more than purchase the product.
When reductions from the regular price of a product are offered at the point-of-purchase through specially marked packages, a marketer is using a: Every time Beth buys a book at The Venus Bookstore, she presents her Venus card, and the sales associate enters her purchase in a database.
When she has purchased five books at regular price, she is sent a coupon for a free book to be slotting allowances are also called out on her next visit to the store.
This discount will be deducted straight from the bill.
This is an example of: Payments offered by manufacturers to retailers for merchandising products or running special in-store programs are called: Retailers justify slotting allowances by pointing to the costs associated with taking on a new product.
Some retailers have demanded payment for new products that do not reach a minimum sales target.
A manufacturer of skis slotting allowances are also called skiing accessories provides sales personnel in ski shops with instruction classes, detailed manuals, and other tools to help them better understand how to sell the company's ski boots.
Several different manufacturers of personal computers PCs have joined to create and sponsor ads that promote both the computer and the microprocessor by sharing the cost of advertising.
Which of the following is true of allocation of the promotional budget when a brand enters the growth stage?
In this stage, promotional dollars must be used primarily for advertising to stress brand visit web page />Which of the following is true of allocation of the promotional budget when a brand enters the introductory stage?
According to attribution theory, a consumer who purchases a product on promotion may not repurchase it because the:.

B6655644
Bonus:
Free Spins
Players:
All
WR:
30 xB
Max cash out:
$ 200

Slotting fees or listing fees, slotting allowances, pay-to-stay These are all names for the fact that the supermarket or other retail outlet wants to optimise its shelf space. The specific metrics may vary, but the principe remains the same: its a way to share the risk/opportunity of a failure/success of a listing between the manufacturer and.


Enjoy!
Chapter 16 - Business Buad301 with Bambach at University of Delaware - StudyBlue
Valid for casinos
MKT 374 Ch 15 Flashcards
Visits
Dislikes
Comments
slotting allowances are also called

CODE5637
Bonus:
Free Spins
Players:
All
WR:
60 xB
Max cash out:
$ 500

Also called shipping boxes, RSCs are the most commonly used boxes. They are usually kraft brown in color, have four flaps on the top and bottom and the side walls are sealed at one corner known as the "Manufacturer's Joint." This design is highly functional for most packing applications.


Enjoy!
Chapter 16 - Business Buad301 with Bambach at University of Delaware - StudyBlue
Valid for casinos
What Are Slotting Allowances? (with picture)
Visits
Dislikes
Comments
Slotting allowances refer to fees that pay for some type of preferential treatment from their distributors.
There are a number of benefits that suppliers can receive from paying a slotting allowance, such as eye-level shelf placement of their products or the opportunity to introduce new ones.
This practice is widely used in the grocery store industry.
The need for these fees is supported by the risks and costs that are associated with stocking a store's shelves and replacing failed products with new products.
Consumers tend to be most familiar with the practice of distributors purchasing products for their stores from various suppliers.
Many are unaware that slotting allowances refer to a practice where suppliers pay the distributors to take some type of action.
The prevalence of this practice greatly varies.
Some distributors may require certain suppliers article source make these payments or may require these fees for certain products.
In other instances, suppliers may offer to pay slotting allowances to motivate a store to invest in a new product, to place a product in a prime location on the shelves, or to motivate a distributor not to drop a product from its stock.
The amount paid for slotting allowances slotting allowances are also called varies.
Instead of decisions being made on an industry-wide basis, fees are often negotiated on a slotting allowances are also called basis.
Different suppliers may be charged different fees, and slotting allowances are also called is even possible that one supplier may be subject to different fees for different items.
Grocery stores tend to operate differently than many other retail establishments, slotting allowances are also called operate on.
On the https://promocode-money-games.website/are/are-there-any-coin-slots-in-vegas.html, stocking grocery stores involves substantially greater risks because store owners purchase their merchandise outright.
Any merchandise that does not sell or that must be deeply discounted results in losses for the grocery store owner.
Annual product failure rates are generally high, supporting the need for slotting allowances in this industry.
These allowances allow stores to cover their costs.
In addition to helping to compensate for the financial losses, the fees paid by suppliers also help to cover other categories of expenses, such as the costs of setting up displays and applying labor to remove unsold products from the shelves.
Other costs associated with acquiring, selling, or replacing a product includeprogramming new items into vendor systems, and producing new shelf labels.
There are debates about the fairness of slotting allowances.
It is commonly argued that this practice is anti-competitive because large suppliers have an obvious slotting allowances are also called />Some small suppliers cannot afford to pay these fees at all.
This may keep their products out of certain stores or may prevent them from ever receiving preferential placement on the shelves.
One of our editors will review your suggestion and make changes if warranted.
Note that depending on the number of suggestions we receive, this can take anywhere from a few hours to a few days.
Thank you for helping to improve wiseGEEK!

T7766547
Bonus:
Free Spins
Players:
All
WR:
30 xB
Max cash out:
$ 500

Define slotting fee. slotting fee synonyms, slotting fee pronunciation, slotting fee translation, English dictionary definition of slotting fee. n. A fee charged by a retailer in exchange for stocking a particular product or displaying it in a special location. Also called slotting allowance


Enjoy!
MKT 374 Ch 15 Flashcards
Valid for casinos
Types of Trade Oriented Promotions - Marketing Communications
Visits
Dislikes
Comments
Slotting allowances refer to fees that pay for some type of preferential treatment from slotting allowances are also called distributors.
There are a number of benefits that suppliers can slotting allowances are also called from paying a slotting allowance, such as eye-level shelf placement of their products or the opportunity to introduce new ones.
This practice is widely used in the grocery store industry.
The need for these fees is supported by the risks and costs that are associated with stocking a store's shelves and replacing failed products with new products.
Consumers tend to be most familiar with the practice of distributors purchasing products for their stores from various suppliers.
Many are unaware that slotting allowances learn more here to a practice where suppliers pay the distributors to take some type of action.
The prevalence of this practice greatly varies.
Some distributors may require certain suppliers to make these payments or may require these fees for certain products.
In other instances, suppliers may offer to pay slotting allowances to motivate a store to invest in a new product, to place a product in a prime location on the shelves, or to motivate a distributor not to drop a product from its stock.
The amount paid for slotting excellent, are there any coin slots in vegas would also varies.
Instead of decisions being made on an industry-wide basis, fees are often negotiated on a case-by-case basis.
Different suppliers may be charged different fees, and slotting allowances are also called is even possible that one supplier may be subject to different fees for different items.
Grocery stores tend to operate differently than slotting allowances are also called other retail establishments, which operate on.
On the contrary, stocking grocery stores involves substantially greater risks because store owners purchase their merchandise outright.
Any merchandise that does not sell or that must be deeply discounted results in slotting allowances are also called for the grocery store owner.
Annual product failure rates are generally high, supporting the need for slotting allowances in this industry.
These allowances allow stores to cover their costs.
In addition to helping to compensate for the financial losses, the fees paid by suppliers also help to cover other categories of expenses, such as the costs of setting up displays and applying labor to remove unsold products from the shelves.
Other costs associated with acquiring, selling, or replacing a product includeprogramming new items into vendor systems, and producing new shelf labels.
There are debates about the fairness of https://promocode-money-games.website/are/all-free-user-slots-are-booked.html allowances.
It is commonly argued that this practice is anti-competitive because large suppliers have an obvious advantage.
Some small suppliers cannot afford to pay these fees at all.
This may keep their products out of certain stores or may prevent them from ever receiving preferential placement on the shelves.
One of our editors will review your suggestion and make changes if warranted.
Note that depending on the number of suggestions we receive, this can take anywhere from a few hours to a few days.
Thank you for helping to improve wiseGEEK!

TT6335644
Bonus:
Free Spins
Players:
All
WR:
60 xB
Max cash out:
$ 1000

1 There is no consensus on the definition of slotting allowances, which are also called slotting fees, listing fees, pay-to-stay fees, street money, etc. Narrowly defined slotting fees refer to the “one-time payments a supplier makes to a retailer as a condition for the initial


Enjoy!
Chapter 16 - Business Buad301 with Bambach at University of Delaware - StudyBlue
Valid for casinos
Chapter 16 - Business Buad301 with Bambach at University of Delaware - StudyBlue
Visits
Dislikes
Comments
slotting allowances are also called

JK644W564
Bonus:
Free Spins
Players:
All
WR:
50 xB
Max cash out:
$ 200

The Lippencott Company, a manufacturer of canned veggies, would like to sell the supermarket chain BuyRight on the idea of stocking a new line of product. BuyRight informs Lippencott that it will have to charge them $250 for every store in the BR chain that stocks LC's new product. What is this type of allowance called?


Enjoy!
Chapter 16 - Business Buad301 with Bambach at University of Delaware - StudyBlue
Valid for casinos
Chapter 6 Flashcards | Quizlet
Visits
Dislikes
Comments
Last Updated on Thu, 20 Dec 2018 Slotting allowances are also called use a variety of trade as inducements for and retailers.
Next we click here some of the most often used types of trade promotions and some factors marketers must consider in using click to see more />These promotions include contests and slotting allowances are also called, trade allowances, displays and point-of-purchase materials, sales training programs, trade shows, and co-op advertising.
Contests and Incentives Manufacturers may develop contests or special slotting allowances are also called programs to stimulate greater selling effort and support from reseller management or sales personnel.
Contests or incentive programs can be directed toward managers who work for a wholesaler or distributor as well as toward store or department managers at the retail level.
Manufacturers often sponsor contests for resellers and use prizes such as trips or valuable merchandise as rewards for meeting sales quotas or other goals.
Exhibit 16-27 shows a contest Chicken of the Sea sponsored for food-service who call on restaurants.
These are an important link in the distribution chain because they are likely to be very familiar with the market, more frequently in touch with the customer whether it be another reseller or the ultimate consumerand more numerous than the manufacturer's own sales organization.
Manufacturers often devise incentives or contests for these sales personnel.
These programs may involve cash payments made directly to check this out retailer's or wholesaler's sales staff to encourage them to promote and sell a manufacturer's product.
These payments are known as push money pm or spiffs.
In sales contests, salespeople can win trips or valuable merchandise for meeting certain goals established by the manufacturer.
As shown in Figure 16-6, these incentives may be tied to product sales, new account placements, or merchandising efforts.
While contests and incentive programs can generate reseller support, they can also be a source of conflict between retail sales personnel and management.
Some retailers want to maintain control over the selling activities of their sales staffs.
Nor do they want their people becoming too aggressive in pushing products that serve their own interests instead of the product or model that is best for the customer.
Many retailers refuse to let their employees participate in manufacturer-sponsored contests or to accept incentive payments.
Retailers that do allow them often have strict guidelines and require management approval of the program.
Trade Allowances Probably slotting allowances are also called most common trade promotion is some form of trade allowance, a discount or deal offered to retailers or wholesalers to encourage them to stock, promote, or display the manufacturer's products.
Types of allowances offered to retailers include buying allowances, promotional or display allowances, and slotting allowances.
Buying Allowances A buying allowance is a deal or discount offered to resellers in the form of a price reduction on merchandise ordered during a fixed period.
These discounts are often in the form of an off-invoice allowance, which means a certain per-case amount or percentage is deducted from the invoice.
A buying allowance can also take the form of free goods; the reseller gets extra cases with the purchase of specific amounts for example, 1 free case with every 10 cases purchased.
Buying allowances are used for several reasons.
They are easy to implement and are well accepted, and sometimes expected, by the trade.
They are also an effective way to encourage resellers to buy the manufacturer's product, since they will want to take advantage of the discounts being offered during the allowance period.
Manufacturers offer trade discounts expecting wholesalers and retailers to pass the price reduction through to consumers, resulting in greater sales.
However, as discussed shortly, this is often not the case.
Promotional Allowances Manufacturers often give retailers allowances or discounts for performing certain promotional or merchandising activities in support of their brands.
These merchandising allowances can be given for providing special displays away from the product's regular shelf position, running in-store promotional programs, or including the product in an ad.
The manufacturer generally has understand are casino slot machines fixed alone! or a contract specifying the activity to be performed to qualify for the promotional allowance.
The allowance is usually a fixed amount per case or a percentage deduction from the list price for merchandise ordered during the promotional period.
Slotting Allowances In recent years, retailers have been demanding a special allowance for agreeing to handle a new product.
Slotting allowances, also called 547 As with any web site, SaleHoo has a number of features that will help you in buying products from around the world.
Once you have an account on SaleHoo, which only costs a one-time fee, you can establish up to twenty named searches for products.
SARAMA What are the techniques for tradeoriented sales promotion that marketing managers often consider?

T7766547
Bonus:
Free Spins
Players:
All
WR:
30 xB
Max cash out:
$ 500

Slotting allowance or slotting fee is the fee charged to producers/manufacturers by the supermarket retailers for various reasons like – a) keeping their products on the shelves b) stocking the product in its warehouse c) entering the product data in its inventory and d) managing their IT systems to recognize the product’s barcode.


Enjoy!
Types of Trade Oriented Promotions - Marketing Communications
Valid for casinos
Chapter 16 - Business Buad301 with Bambach at University of Delaware - StudyBlue
Visits
Dislikes
Comments
slotting allowances are also called

B6655644
Bonus:
Free Spins
Players:
All
WR:
50 xB
Max cash out:
$ 200

Define slotting fee. slotting fee synonyms, slotting fee pronunciation, slotting fee translation, English dictionary definition of slotting fee. n. A fee charged by a retailer in exchange for stocking a particular product or displaying it in a special location. Also called slotting allowance


Enjoy!
MKT 374 Ch 15 Flashcards
Valid for casinos
Chapter 6 Flashcards | Quizlet
Visits
Dislikes
Comments
slotting allowances are also called

A7684562
Bonus:
Free Spins
Players:
All
WR:
50 xB
Max cash out:
$ 200

“Slotting fees” (or “slotting allowances”) are fees that manufacturers pay retailers to appear on their scarce shelves.


Enjoy!
What Are Slotting Allowances? (with picture)
Valid for casinos
What Are Slotting Allowances? (with picture)
Visits
Dislikes
Comments
slotting allowances are also called