2020-21 Fashion 2nd SW Review

An industry-wide program that ties together the entire textile/apparel pipeline using product code data, EDI technology

For the estimated dollar amount for planned stock, sales and profit for 6 month period

Proprietary information is available to the public and usually in the reference section of libraries.

The quantity of each item available in the assortment of goods offered to customers

Preferred vendors with which retailers consistently place large orders are known as ___.

Floor-ready merchandise has all the price tags, labels, informative hangtags, and security tags attached

When retail managers talk about their customer, they mean the company's ideal target market consumer.

The interior space of stores is divided into selling areas and sales-support areas.

Low stock turnover rates make more cash available to buy more merchandise and generate more profits.

A retailer's product mix is how it combines its upscale and discount branch stores in a community

Market research is the ___

The exchange of information & transactions through computer linkages between companies using an understand digital forma

Recent trends in retail positioning include efficiency and entertainment for shoppers.

A retailer's unique fashion image is formed by a combination of its ____.

The vital statistics of human populations, broken down by such factors as age,gender, race, education, religion, income,

Locked-in resources-preferred vendors with whom the retailer has had excellent past dealings&has consistently placed ord

Findings from market research are used to ___.

Atmosphere that has great influence on retail fashion image is known as ____.

Retailers should ideally be well-stocked while an item is in high demand and try to be low in inventory when demand drop

To differentiate themselves from competitors, retailers use a marketing mix that blends product, price, place, and promo

Target marketing _____.

Product symbols with dark bars & white spaces of varying widths, used on merchandise tags for electronic data collection

RFID means "reader for identification data."

Retailer situates itself in the consumer market

A buying plan that projects the variety & quantity of stock-keeping units to be carried by a retailer to meet demand

Number of different categories of merchandise a retailer offers regardless of how many of each category is in stock

The dollar amount that is available for buyers to order new goods after all purchases have been deducted

Computer generated experience that stimulates the senses to create a perception of being in another environment.

External resources of merchandising information includes salespeople, consumer opinions and merchandising bureaus.

A balanced assortment has sufficient items to meet demand, with breadth&depth to satisfy customers,maintaining low inves

The most popular methods to segment markets are with demographic and psychographics.

An advantage of buying directly from producers is ____.

Retail buyers are responsible for selecting and purchasing goods for their companies to sell.

The company with the largest market share usually has the highest per-item costs.

Turnaround time is ____.

The two main methods for developing merchandise assortments are ___.

EDI technology ____

If retail buyers order less merchandise than needed, ___.

A never-out list is made up of goods that customers will ask for, so the items do not need to be displayed in store

A dollar merchandise plan is also called a twelve-month merchandise plan.

A retailer's assortment is its total number of stores and their locations.

Dividing the total market into smaller groups that contain similar characteristics.

Printed bar codes can be read by stationary, movable wired, or nearby wireless readers.

The smallest unit for which sales and stock records are kept

The main advantage of RFID tags is the increase of consumer privacy.

If retailers fail to define their target markets and positions clearly, they usually end up satisfying no market at all.