MA225VC-14

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)

Sets the guiding principles for all the merchandise decisions a retailer makes. (p. 384)

Strategy whereby a retailer adjusts its shelf-space allocations to respond to customer and other differences among local markets. (p. 386)

Exists when a retailer carries complementary goods and services so that shoppers are encouraged to buy more. (p. 387)

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)

Procedure used when a group of retailers make quantity purchases from suppliers. (p. 390)

Person responsible for selecting the merchandise to be carried by a retailer and setting a strategy to market that merchandise. (p. 390)

Person who typically supervises the on-floor selling and operational activities for a specific retail department. (p. 390)

Projections of expected retail sales for given time periods. (p. 391)

Consists of the regular products carried by a retailer. (p. 392)

Specifies the inventory level, color, brand, style category, size, package, and so on for every staple item carried by a retailer. (p. 392)

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)

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)

Products that may have cyclical sales due to changing tastes and lifestyles. (p. 392)

Products that sell well over nonconsecutive time periods. (p. 392)

Items that generate a high level of sales for a short time. (p. 392)

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)

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)

Selection of merchandise carried by a retailer. It includes both the breadth of product categories and the variety within each category. (p. 396)

Number of distinct goods/ service categories (product lines) a retailer carries. (p. 396)

The variety in any one goods/ service category (product line) with which a retailer is involved. (p. 396)

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)

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)

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)

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)

Merchandising technique that improves productivity. It focuses on product category results rather than the performance of individual brands or models. (p. 403)