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Fashion And Retail Merchandizing
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Fashion And Retail Merchandizing
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1. Competition between the same type of retailers (e.g. - Kroger versus Safeway).

2. To cut into; cause to become reduced; diminish.

3. A contractual agreement between a franchisor and a franchisee that allows the franchisee to operate a retail outlet using a name and format developed and supported by the franchisor.

4. A type of store concentrating on a limited number of complementary merchandise categories and providing a high level of service.

5. Merchandise that has minor mistakes in construction.

6. The voluntary actions taken by a company to address the ethical - social - and environmental impacts of its business operations - in addition to the concerns of its stakeholders.

7. A set of business activities that adds value to the products and services sold to consumers for their personal or family use.

8. A purchase decision involving a moderate amount of effort. Customers do this when they have some prior experience with the product or service and when their risk is moderate.

9. The way customers use the information they have and collect about alternatives - evaluate the alternatives - and make the choice that best satisfy their needs.

10. A model of customer decision making based on the notion that customers see a retailer or a product as a collection of attributes or characteristics. The model can also be used for evaluating a retailer - product - or vendor. The model uses a weighte

11. End-of-season merchandise that will not be used in following seasons.

12. Offer a limited and irregular assortment of food and general merchandise with little service at low prices - Use low-locations - inexpensive store design - little customer service. - Low inventory holding costs by carrying a limited assortment of fas

13. North American Industry Classification System Classification of retail firms into a hierarchical set of six-digit codes based on the types of products and services they produce and sell.

14. Selling merchandise or retailers through more than one channel. Ex: Stores - catalogs - and the internet.

15. When geographic and demographic characteristics are used to classify consumers.

16. A business that sells products and/or services to consumers for personal or family use.

17. A retailer performs some distribution and manufacturing activities - such as operating warehouses. Ex: JCPenney sells Arizona jeans (Private Label)

18. A group of customers whose needs will be satisfied by the same retail offering because they have similar needs and go through similar buying processes.

19. Social Class: Lower - Middle - Upper Lifestyle: Striver - driver - devoted - intimate - altruist - fun seeker - creative Personality: Agressive - shy - emotional

20. Upscale - high fashion chains with exclusive designer merchandise and excellent customer service - Ex: Nordstrom - Neiman Marcus - Saks

21. Needs motivating consumers to go shopping to accomplish a specific task.

22. The pattern of buying both premium and low-priced merchandise or patronizing both expensive - status-oriented retailers and price-oriented retailers.

23. Competition between retailers that sell similar merchandise using different formats - such as discount and department stores.

24. When retailers offer merchandise not typically associated with their type of store - such as clothing in a drug store - it results in scrambled merchandising. This increases intertype competition.

25. Stock-Keeping Unit The smallest unit available for keeping inventory control. In soft goods merchandise - a SKU usually means a size - color - and style.

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