The Buyer's Job
Roles they play
Into the Future
Role Reversal
Performance
100
The individuals in the retail organization whose primary job is to purchase merchandise
What is the buyer
100
The preparation of the daily reports to identify the best sellers and slow seller. The replenishing of basic stock. The processee of completing markdown records and reports
What is an Assistant Buyer's Roles
100
The reason today's market is more of a number game for a buyer
What is Technology
100
First position for most college graduates entering retailing. Invoves company orientation, classroom and oth-the job training, and contact with all facets of the store
What is Management Trainee
100
Standars established in numerical terms, such as having a certain sales level while maintaining a specific markup percent.
What is Quantitative Performance Measurement
200
The products that a business always wants to have in stock. They have a stable consumer demand, so sales vary little from year to year.
What is Basic Merchandise
200
Keeping abreast of current market trends and economic conditions. Developing merchandising strategies for a product line, department store, or the entire retail organization. Visiting the store reegulary to consult with sales associates and store managers.
What is the Duties and Responsibilities of a Buyer
200
It generates weekly orders based on sales in relation to model stock plans which are developed based on apst sales and current trends
What is Automatic Reordering Systems
200
Reponsibile for developing and maintaining a retailer's overall fashion perspective.
What is Fashion Director
200
The difference between merchandise cost and its selling price
What is Markup
300
Scouting the market for the right merchandise that will provide their stores with unique items or looks that the competition does not carry.
What is Fashion Merchandise
300
A buyer in training
What is Assistant Buyer
300
DOUBLE JEOPARDY The 4 trends in buying patterns have developed from the use of Technogy.
What are Stronger Partnerships with retailers and venders More frequest orders in smaller quanities are being placed, orders are being made closer to the selling season, replenishment of basic merchandise is based on actual sales, forecasts and trends.
300
Selects merchandise for inclusion in catolgs. Works with vendors, places orders, and monitors order fulfillment
What is Catalog Manager
300
The calculation by first determining the dollar markup on an item, which is found by substracting the cost of the item from the retail price.
What is Individual Markup Percentage
400
The structure in which buyers are housed at a company.
What is Organizational Structure
400
The manager of the buying function in most retail organizations.
What is Merchandise Manager
400
The qualifications needed to become a buyer.
What are appropriate personality traits, human relations skills and merchandising knowledge and skills.
400
Works under the supervision of a department manager. Assists in managing personnel, controlling inventory, and other store operations
What is Assistant Department Manager
400
The markup achieved on all merchandise available for sale in a giving period.
What is Cumulative Markup
500
What two factors affect the scope of a buyer's job
What is Organizational Structure and Size of the Retail Organization.
500
DOUBLE JEOPARDY The duties of merchandise managers are divided into 4 areas
What are Planning, Directing, Cordinating and Controlling
500
Training where you learn the products and understanding customers wants and needs
What is Management Training Program
500
Acquires and analyzes relevant and timely information that assists executives in making importan decisions. Heavily involved in research methodology and data collection.
What is a Marketing Research Director
500
DOUBLE JEOPARDY The three tools buyers use to compare figures
What are 1. Established Goals 2. Past Records for the Department or store 3. Industry Averages
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