MA225VC-14

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Author:
jlpasquale
ID:
115562
Filename:
MA225VC-14
Updated:
2011-11-10 06:55:04
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Retail Management
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Chapter 14: Developing Merchandise Plans
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  1. Activities involved in acquiring particular goods and/or services and making them available at the places, times, and prices and in the quantity to enable a retailer to reach its goals. (p. 384)
    Merchandising
  2. Sets the guiding principles for all the merchandise decisions a retailer makes. (p. 384)
    Merchandising Philosophy
  3. Strategy whereby a retailer adjusts its shelf-space allocations to respond to customer and other differences among local markets. (p. 386)
    Micromerchandising
  4. Exists when a retailer carries complementary goods and services so that shoppers are encouraged to buy more. (p. 387)
    Cross-Merchandising
  5. Inside or outside buying organization used when a retailer wants to keep in close touch with market trends and cannot do so with just its headquarters buying staff. Such offices are usually situated in important merchandise centers (sources of supply) and provide valuable data and contacts. (p. 390)
    Resident Buying Office
  6. Procedure used when a group of retailers make quantity purchases from suppliers. (p. 390)
    Cooperative Buying
  7. Person responsible for selecting the merchandise to be carried by a retailer and setting a strategy to market that merchandise. (p. 390)
    Buyer
  8. Person who typically supervises the on-floor selling and operational activities for a specific retail department. (p. 390)
    Sales Manager
  9. Projections of expected retail sales for given time periods. (p. 391)
    Forecasts
  10. Consists of the regular products carried by a retailer. (p. 392)
    Staple Merchandise
  11. Specifies the inventory level, color, brand, style category, size, package, and so on for every staple item carried by a retailer. (p. 392)
    Basic Stock List
  12. Apparel, furniture, autos, and other products for which the retailer must carry a variety of products in order to give customers a proper selection. (p. 392)
    Assortment Merchandise
  13. Planned composition of fashion goods, which reflects the mix of merchandise available based on expected sales. It indicates product lines, colors, and size distributions. (p. 392)
    Model Stock Plan
  14. Products that may have cyclical sales due to changing tastes and lifestyles. (p. 392)
    Fashion Merchandise
  15. Products that sell well over nonconsecutive time periods. (p. 392)
    Seasonal Merchandise
  16. Items that generate a high level of sales for a short time. (p. 392)
    Fad Merchandise
  17. Used when a retailer plans stock levels for best-sellers. The goal is to purchase enough of these products so they are always in stock. (p. 393)
    Never-Out List
  18. Shows the expected behavior of a good or service over its life. The traditional cycle has four stages: introduction, growth, maturity, and decline. (p. 394)
    Product Life Cycle
  19. Selection of merchandise carried by a retailer. It includes both the breadth of product categories and the variety within each category. (p. 396)
    Assortment
  20. Number of distinct goods/ service categories (product lines) a retailer carries. (p. 396)
    Width of Assortment
  21. The variety in any one goods/ service category (product line) with which a retailer is involved. (p. 396)
    Depth of Assortment
  22. Produced and controlled by manufacturers. They are usually well known, supported by manufacturer ads, somewhat pre-sold to consumers, require limited retailer investment in marketing, and often represent maximum product quality to consumers. (p. 400)
    Manufacturer (National) Brands
  23. Contain names designated by wholesalers or retailers, are more profitable to retailers, are better controlled by retailers, are not sold by competing retailers, are less expensive for consumers, and lead to customer loyalty to retailers (rather than to manufacturers). (p. 400)
    Private (Dealer, Store) Brands
  24. No-frills goods stocked by some retailers. These items usually receive secondary shelf locations, have little or no promotion support, are sometimes of less quality than other brands, are stocked in limited assortments, and have plain packages. They are a form of private brand. (p. 402)
    Generic Brands
  25. The competition between manufacturers and retailers for shelf space and profits, whereby manufacturer, private, and generic brands fight each other for more space and control. (p. 402)
    Battle of the Brands
  26. Merchandising technique that improves productivity. It focuses on product category results rather than the performance of individual brands or models. (p. 403)
    Category Management

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