Planning and Controlling Merchandise Assortments
The assortment factor(s) that commonly form the basis of a merchandise assortment plan
What is style, color and size?
Manufacturer and retailer merchandisers work together as a means of line development
What is Joint Product Development?
The process of planning and placing reorders, handling, shipping, receiving, distributing, and displaying merchandise
What is Merchandise replenishment?
The acquisition and delivery of components or fully finished products or services from outside of the organization.
What is sourcing?
Direct responsibility include speed of transactions. and increase sales by turning browsers into shoppers and building long-term relationships
What is the role of personal selling services?
The assortment that is consistent with customers’ needs and wants
What is balanced assortment?
Suggested retail price by manufacturer
What is list price?
Using more than one shipment of a given assortment based on an initial order and reorder(s)
What is multiple delivery?
Taxes on goods that are imported or exported.
What are tariffs?
______ involves looking for potential customers—leads and determining if the leads are qualified.
What is prospecting?
A plan for merchandise assortment according to assortment factors
What is a model stock?
Manucturer's discounts such as seasonal discount, pre-selling-period discount, and quantity discount
What are discounts on list price?
The difference in distribution of assortment factors between planned and actual demand
What is assortment error?
Advantages of_______ include reduced material/ operating cost; i; increase product availability; and responding quickly to changing market.
What is advantages of global sourcing?
The two types of approach in the personal selling process.
What are greeting and merchandise approach?
The allocation of volume across assortment factors at the classification level.
What is assortment distribution?
_______ enable retailers to acquire goods at lower cost and price them with a greater markup percentage.
What are private brands?
The average number of units in stock during the selling period
What is average inventory?
Limit quantity of products that can be exported to developed countries by their developing-country suppliers
What are trade quotas?
Getting the customer to agree to buy the product
What is closing the sale?
The range of relationships that may exist assortment volume and assortment variety.
What is assortment diversity?
________develops a supplier negotiation strategy, and must understand wholesale price structures and how these interrelate with retail price structures.
What is retail merchandiser?
The speed with which a product passes through the industry matrix
What is product velocity?
The amount of fabric required to make a garment or a group of garments is measured in _________
What is square meter equivalents (SMEs)?
Listen and remain calm, let the customer unload
What is dealing with difficult customers