27 commonly Used Terms in Direct Selling - PowerPoint PPT Presentation

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27 commonly Used Terms in Direct Selling

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Title: 27 commonly Used Terms in Direct Selling


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1.Guidelines
"Guidelines" is the compilation of instructions
issued to assist the companies to observe
self-control for maintaining ethical business
practices and to avoid being booked under "The
Prize Chit and Money Circulation Banning Act
1978", "The Banning Act 2017" or various acts in
states including MPIDA, TNPIDA, OPIDA etc
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2.Consumer
  • "Consumer" refers to any person/s whether as an
    individual or as an organization (a group of
    individuals).

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  • 3. Direct Selling
  • "Direct selling" is the marketing and retailing
    of products to people in places other than fixed
    retail locations. Its primarily a B2C (Business
    to consumer) model with some exceptions (where
    the agreement is entered into between the Direct
    selling entity and an Entity / Organization-
    Proprietary, Partnership, Limited liability
    Partnership, One person company / Private
    limited, Trust, Public limited, etc.)

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  • 4. Company
  • "Company" is a business organization that
    manufactures or buys and sells products or
    provides services in exchange for money, i.e.,
    the organization may be a manufacturer or a
    trader of the product/s.

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  • 5. Direct Selling Company
  • "Direct selling company" is a company which
    utilizes the services of
  • self-employed individuals known as direct sellers
    as per the definition of direct seller to
    recommend and retail product/s.

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6.Direct Seller
  • "Direct Sellers are also known as Distributors,
    Associates, Independent business owners,
    Consultants, Networkers, Members, Advisors,
    Independent business associates, Affiliates,
    Independent representatives, etc.

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7.Active Direct Seller
  • "Active Direct seller" is a direct seller whose
    monthly purchase from the company exceeds INR 50.

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  • 8. Prospect
  • "Prospect" is a person to whom an offer or a
    proposal is made by the Direct Seller to join a
    Direct Selling opportunity or to purchase goods
    or services.

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  • 9. Product
  • "Product" refers to anything, goods or services,
    tangible or intangible that constitutes the
    subject of an intended direct selling transaction.

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  • 10. Saleable
  • "Saleable" with respect to goods and / or
    services, means unused and marketable, unexpired
    and undamaged

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  • 11. Price
  • "Price" is the money consideration for a sale of
    goods.

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  • 12. Quality
  • "Quality" is the ability to perform
    satisfactorily in service and is suitable for its
    intended purpose. As indicated in the literature
    including brochures, labels, and presentations
    developed / distributed / retailed by the
    company. Quality of goods includes their state or
    condition.

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  • 13. Satisfaction Guarantee
  • "Satisfaction guarantee" is the promise to the
    consumer to empower
  • him / her to return the product if he / she does
    not get the results as per the expectations or as
    promised/claimed by the company. This policy is
    to address the concerns of issues regarding the
    quality of the product/s.

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  • 14. Money Back Guarantee
  • "Money back guarantee" is the promise to the
    direct seller to empower
  • him / her to return the goods if he / she is
    unable to sell the purchased product/s to the
    consumer/s or use them for self-consumption.

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  • 15. Negative Product List
  • "Negative product list" is the list of products /
    services which are not to be promoted by the
    company deploying a Direct / Single level /
    Multilevel marketing compensation plan.

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  • 16. Special Product List
  • "Special product list" is the list of products /
    services which may be promoted along with the
    conditions mentioned along with them.

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  • 17. Delivery
  • "Delivery" is a voluntary transfer of possession
    from one party to another.

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  • 18. Office
  • "Office" a room, set of rooms, or building used
    as a place of exclusively conducting business
    activities.

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  • 19. Enrol
  • "Enrol" is to introduce / register / signup
    formally through a legally enforceable written
    contract to undertake direct selling business on
    principal to principal basis as a participant or
    an individual or any entity including any names
    mentioned under the definition of a direct seller.

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  • 20. Marketing Organization
  • "Marketing organization" is the way of
    representing the tiered nature of the direct
    sellers in a graphical form to help them
    recognize their relative positions to the company
    or direct sellers above or below them.

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  • 21. Compensation Plan
  • "Compensation plan" is a method to calculate the
    commissions/incentives and/or the rewards to be
    given to / among direct seller/s from the
    turnover achieved by them and/or their marketing
    organization.

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  • 22. Virtual Currency
  • "Virtual currency" (also known and circulated in
    the form of Crypto-currency, e-currency, e-money,
    electronic cash, electronic currency, e-vouchers,
    digital money, digital cash, virtual cash,
    digital currency, cyber currency or any other
    name) is the money that is only distributed /
    exchanged / redeemed

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  • 23. Cryptocurrency
  • "Cryptocurrency" is a digital currency that is
    generated by using computers to solve
    cryptographic puzzles while the transactions are
    done using cryptography. This currency may or may
    not be created and / or backed by any collateral
    or any government.

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  • 24. Pyramid Scheme
  • "Pyramid Scheme" means a multi layered network of
    subscribers to a scheme formed by subscribers
    enrolling one or more subscribers in order to
    receive any benefit directly, as a result of
    enrolment of additional subscribers to the
    scheme. The subscribers enrolling further
    subscriber(s) occupy higher position and the
    enrolled subscriber(s) occupies a lower position,
    thus, with successive enrolments, they form multi
    -layered network of subscribers.

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  • 25. Money Circulation Scheme
  • "Money Circulation Scheme" means any scheme, by
    whatever name called,for the promise of quick or
    easy money, or for the receipt of any money or
    valuable thing as the consideration on any event
    applicable to the enrolment of individuals into
    the scheme or on investments by the individuals
    as a consideration for a promise of returns for
    their investments. It also includes a promise of
    quick or easy money, which is not arithmetically
    viable or may not be related to sale of products
    by the participants or their marketing
    organization.

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  • 26. Direct Marketing
  • "Direct marketing" is a method in which companies
    communicate directly with the consumers through
    formats like online advertisements, direct
    mailing (postal mail and email), text messaging
    and telemarketing.

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  • 27. Ecommerce
  • "Ecommerce" is the  sale and / or purchase of
    goods or services conducted using the world wide
    web. This method of distribution may or may not
    be a part of the direct selling model.

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