acknowledgment (ack)
Barron's Marketing Dictionary:
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acknowledgment (ack)
Letter, postcard, or form sent to a customer confirming the receipt of an order, payment, or inquiry. It is frequently used in response to credit orders to encourage fast payment or to offer an opportunity to increase the order. The latter use is referred to as a collection extension, renewal-at-birth, step-up or upgrade. See also cash acknowledgment.
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acknowledgment (ack)
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Barron's Marketing Dictionary
Dictionary of Marketing Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved.
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