Resources
Uses labor and machinery to convert raw materials into finished products
Manufacturers
Taxes to restrict foreign competition
Tariffs
A place where buyers and sellers transact business
Markets
A marketing and research consulting firm
Buying Office
Owned and operated independently of its member stores
Salaried Buying Office
Acts as a middleman to bring buyers and sellers together to transact business
Sales Representatives
Limit the quantity of goods that can be imported into a country in a given period of time
Quotas
A group of temporary exhibits in a convention center, merchandise mart, or hotel, at which vendors of a single category of merchandise, or group of related categories, present goods to buyers
Trade shows
What do buying offices do?
Provide market information, merchandising guidance and other services
Owned and operated by a retail conglomerate
Syndicated Buying Office
Buys manufacturers' products then resells them to retailers
Wholesalers
Refers to buying goods and services from foreign sources to bring them back in the home country
Imports
Designed as "one-stop shopping for buyers"
Merchandise Mart
Buying offices are located in
An example is Macy's
Syndicated Buying Office
Often called account representatives or account executives
Direct Sales Forces
An example of this is DMC
Market Center
The trade show we were supposed to go on a field trip to
KNOWKNOW
Communicate market conditions to clients (fashion trends, new resources, hot items, opportunistic buys, promo opportunities)
Market Specialists or Market Reps
Owned and operated by a single retail organization as an extension of its corporate merchandising function
Private Buying Office
An example of this is Alibaba
Wholesaler
Act as a retailer's agent by screening resources, facilitating order placement, ensuring quality control, making payment and shipping arrangement
Commisionaire
Where sales force presents product to buyers
Showroom
The pooling of orders for merchandise, store fixtures, and services from many members to meet minimum order requirements or to negotiate quantity discounts
Group buying
An example is The Doneger Group
Salaried Buying Office