Fashion Chapter 9

Marketing ??? is the process of gathering information about current and potential customers.

Order forecast allow fashion buyers to guess how much merchandise will sell in a period of time

The turnover rate is the amount of money received from an item above the money invested in it.

?? inventory system, arrangements are made with a vendor so that merchandise arrives as needed 

The same person may fall into many different market segments

The chance that manufacturers may not make desired in-stock dates is called  ?? risk.

An order forecast estimates

MktIS provide the capabilities of collecting, ??,reporting, analyzing, and using information.

Inventory data is not part of the MktIS -- it doesn't provide data about the customer's tastes.

track the quantities/wholesale value/retail value of garments received/sold is called ??control

An accurate inventory system can help stores prevent theft.

Which of the following stores most likely does NOT cater to the mass market?

Retailers should always be careful to limit orders due to slow sales.

Inventory ?? involves minimizing inventory on hand while keeping sales constant or growing.

Which of the following is NOT an example of a demographic?

In optimizing inventory, priority must be given to items that

Generation Y refers to the market segment of people born in the United States between the years

range of lowest price a retailer can afford to charge &  top price a customer is willing to pay

Same-?? sales reports compare what is happening today to the same datein the previous year.

Point-of-sale info, special events, marketing research, are types of data used to develop

Stored marketing data is good for only a short period of time, as clothing trends change often

Typically, 20 percent of the products sold in a store will account for ____% of the turnover.

A(n) ____________________ is a yielding on a vendor’s price orreturn policy.

Fashion marketers can fully focus on and thoroughly get to know its mass-market customers.

Downstream risk -- retailer purchase too much inventory to prevent running out of stock

Market is divided into segments based on the ideology, values, and attitudes, 

Low levels  on a particular item is not always reason enough to purchase more of the item.

Which of the following statements about inventory turnover is TRUE?

The purpose of a marketing-information system is to

?? market refers to a large number of potential customers with no specific similarities.