Show Definition an analysis that identifies the performance of individual SKU's in the assortment plan. It is used to determine which SKUs should be in the plan and how much backup stock and resulting product availability are provided for each SKU in the planTerm Definition the set of SKUs that a retailer will offer in a merchandise category in each of its stores and from its websiteTerm Definition Term Definition inventory for which the level goes up and down due to the replenishment processTerm Definition categories that are in continuous demand over an extended time periodTerm Definition stocking out of a specific size or color SKUTerm Definition the number of different merchandising subcategories offeredTerm Definition the vendor who works with the retailer to develop a better understanding of consumer shopping behaviors, create assortments that satisfy consumer needs, and improve the profitability of the merchandise categoryTerm Definition an approach to managing merchandise that assigns one buyer or category manager to oversee all merchandising activities for the entire categoryTerm Definition a group of items targeting the same customer type - the third level for categorizing merchandise and organizing merchandise management activitiesTerm Definition systems that involve continuously monitoring merchandise sales and generating replacement orders, often automatically, when inventory levels drop below predetermined levelsTerm Definition the second level in the merchandise classification scheme. They are managed by divisional merchandise managers (DMMs)Term Definition the process of determining the variety and assortment for a categoryTerm Definition categories that are in demand only for a relatively short period of timeTerm Definition the percentage of SKUs received complete on a particular order from a vendorTerm Definition a small group of respondents interviewed by a moderator using a loosely structured formatTerm Definition an unstructured personal interview in which the interviewer uses extensive probing to get individual respondents to talk in detail about a subjectTerm Definition the amount of time between the recognition that an order needs to be placed and the point at which the merchandise arrives in the store and is ready for saleTerm Definition funds vendors give retailers to cover lost gross margin dollars due to the markdowns needed to sell unpopular merchandiseTerm Definition specifies the amount of merchandise in dollars (not units) that needs to be delivered during a month, based on the sales forecast, the planned discounts to employees and customers, and the level of inventory needed to support the sales and achieve the desired GMROI objectivesTerm Definition an assortment of items that customers see as substitutes for one anotherTerm Definition the highest classification level of organization of the merchandise i.e. women's apparel, cosmetics, home & kitchen, etcTerm Definition the process by which a retailer attempts to offer the appropriate quantity of the right merchandise, in the right place and at the right time, so that it can meet the company's financial goalsTerm Definition the number of each SKU in the assortment plan that the buyer wants to have available for purchaseTerm Definition a method for evaluating vendors that uses a weighted-average score for each vendor. The score is based on the importance of various issues and the vendor performance on those issuesTerm Definition a system used to keep track of the actual merchandise flows--what the present inventory level is, when purchased merchandise is scheduled for delivery, and how much has been sold to customersTerm Definition the amount of inventory below which the quantity available shouldn't go or the item will be out of stock before the next order arrivesTerm Definition the retailer's information system determines the inventory level at each point in time by comparing the sales made through the POS terminals with the shipments received by the storeTerm Product Availability/Service Level/Level of SupportDefinition the percentage of the demand for a particular SKU that is satisfiedTerm Safety/Backup/Buffer StockDefinition number of units held that determines product availabilityTerm Definition categories that consist of items whose sales fluctuate dramatically depending on the time of yearTerm Definition compares actual and planned sales to determine whether more merchandise is needed to satisfy demand or whether price reductions (markdowns) are requireTerm Definition slightly damaged from being displayed and handled by customers for a long timeTerm Definition inventory losses caused by shoplifting, employee theft, merchandise being misplaced or damaged, and poor bookkeepingTerm SKU Rationalization ProgramDefinition a program that analyzes the benefits the retailers might gain from deleting, adding, or keeping certain items in their assortmentsTerm Definition the smallest unit available for inventory controlTerm Definition specifies the amount of inventory that should be on hand at the beginning of the month to support the sales forecast and maintain the inventory turnover objective for the categoryTerm Natioal/Manufacturer's BrandsDefinition products designed, produced, and marketed by a vendor and sold to many different retailersTerm Definition a larger company that is associated with the smaller company's brandTerm Definition a brand associated with the productTerm Store/Private-Label/House/Own BrandsDefinition products developed by retailersTerm Natioal/Manufacturer's BrandsDefinition products designed, produced, and marketed by a vendor and sold to many different retailersTerm Definition a larger company that is associated with the smaller company's brandTerm Definition a brand associated with the productTerm Store/Private-Label/House/Own BrandsDefinition products developed by retailersTerm Definition brands that offer the consumer a product that is comparable to a manufacturer's brand quality, sometimes with modest price savingsTerm Definition a brand that is developed by a national-brand vendor, often in conjunction with a retailer, and sold exclusively by the retailerTerm Definition brands that imitate the manufacturer's brand in appearance and packaging, generally are perceived as lower-quality, and are offered at lower pricesTerm Definition brands that are labeled with the name of the commodity and thus actually have no brand name distinguishing themTerm Definition a concentration of vendors within a specific geographic locationTerm Definition weeks during which buyers make appointments to visit the various vendor showroomsTerm Definition shows where vendors display their merchandise in designated areas and have sales representatives, company executives, and sometimes even celebrities available to talk with buyers as they walk through the exhibit areaTerm Definition taxes collected by a government on importsTerm Definition organizations located in major market centers that provide services to help retailers buy merchandiseTerm Definition an auction in which there is one buyer (the retailer) and many potential sellers (the manufacturing firms)Term Definition charges imposed by a retailer to stock a new itemTerm Definition charges imposed by a retailer to stock a new itemTerm Co-Op (Cooperative) AdvertisingDefinition a program undertaken by a vendor in which the vendor agrees to pay for all or part of a pricing promotionTerm Strategic/Partnering RelationshipDefinition a relationship that emerges when a retailer and vendor are committed to maintaining the relationship over the long term and investing in opportunities that are mutually beneficial to both partiesTerm Definition a belief that a partner is honest and benevolentTerm Definition merchandise including goods made and sold without the permission of the owner of a trademark or copyrightTerm Definition property that is intangible and created by intellectual (mental) effort as opposed to physical effortTerm Definition any mark, word, picture, device, or nonfunctional design associated with certain merchandiseTerm Definition protects the original work of authors, painters, sculptors, musicians, and others who produce works of artistic or intellectual meritTerm Gray-Market/Parallel ImportsDefinition involve the flow of merchandise through distribution channels, usually across international borders, other than those authorized or intended by the manufacturer or producerTerm Definition similar to parallel imports but there need not be distribution across international bordersTerm Definition occurs when consumer goods are scarce, such as water or gasoline after a natural disaster; heavily taxes, such as cigarettes or alcohol; or illegal, such as drugs or armsTerm Definition occurs when a vendor or its agent offers or a buyer asks for "something of value" to influence purchase decisionsTerm Definition a practice used by retailers in which they deduct money from the amount they owe a vendorTerm Buybacks/Stocklifts/Lift-OutsDefinition activities engaged in by vendors and retailers to get old products out of retail stores and new products in their placeTerm Exclusive Dealing AgreementsDefinition agreements that occur when a vendor restricts a retailer to carrying only its products and nothing from competing vendorsTerm Definition a contract that exists when a vendor requires that a retailer take a product it doesn't necessarily desire to ensure that it can buy a product it does desireTerm Corporate Social ResponsibilityDefinition the voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operationsTerm Definition a socially responsible movement that ensures that produces receive fair prices for their productsTerm Definition the disingenuous practice of marketing products or services as being environmentally friendly with the purpose of gaining public approval and sales rather than actually improving the environmentTerm Definition when a company operates with consideration for the environment rather than spending resources on environmentally sound practicesTerm Integrated Marketing Communication ProgramDefinition a program in which they integrate a variety of communication elements to deliver a comprehensive, consistent message to all customers over time, across all elements of their retail mix and across all delivery channelsTerm Freestanding Insert (FSI)/PreprintDefinition an advertisement printed at the retailer's expense and distributed as an insert in the newspaperTerm Definition any brochure, catalog, advertisement, or other printed marketing material delivered directly to the consumer through the mail or a private delivery companyTerm Definition ads in local markets as opposed to national adsTerm Definition special incentives or excitement-building programs that encourage consumers to purchase a particular product or serviceTerm Definition offer a discount on the price of specific items when they are purchasedTerm Definition a refund issued by the manufacturer as a portion of the purchase price returned to the buyer in the form of cashTerm Definition offers an item for free or at a bargain price to reward some type of behavior, such as buying, sampling, or testingTerm Point-of-Purchase (POP) DisplaysDefinition merchandise displays located at the point of purchaseTerm Definition offer potential customers the opportunity to try a product or service before they make a buying decisionTerm Definition a sales promotion program comprising a number of sales promotion techniques built around a seasonal, cultural, sporting, musical, or some other type of activityTerm Definition occurs when retailers support various activities, usually in the cultural or sports and entertainment sectorsTerm Definition a communication process in which sales associates help customers satisfy their needs through face-to-face exchanges of indformationTerm Definition involves managing communications and relationships to achieve various objectives, such as building and maintaining a positive image of the retailer, handling or heading off unfavorable stories or events, and maintaining positive relationships with the mediaTerm Cause-Related Marketing CampaignDefinition commercial activity in which businesses and charities form a partnership to market an image, product, or service for their mutual benefitTerm Definition when retailers and vendors pay to have their product included in nontraditional situations, such as in a scene in a movie or television programTerm Search Engine Marketing (SEM)Definition marketing used to improve the visibility of their websites in searchesTerm Search Engine Optimization (SEO)Definition creating and adjusting website content to show up closer to the top of a search engine results page (SERP)Term Search Engine Results Page (SERP)Definition lists the results that a search engine provides, in response to a user's key-word theoryTerm Definition sending messages over the Internet to specific individualsTerm Definition communication through wireless handheld devicesTerm M-Commerce (Mobile Commerce)Definition completing a transaction via a mobile deviceTerm Definition various forms of electronic communication, which users can employ to create online communities in which they share ideas, information, their interpersonal messages, and other contentTerm Definition a process whereby retailers can tap into a variety of online chat formats to collect consumer comments and then analyze these data to identify customers' overall attitudes and preferences for products and advertising campaignsTerm Definition an individual or group of users regularly post their opinions and various topical information on a web pageTerm Definition communication among people about an entity such as a retailer or a product or serviceTerm Definition a short version of a blogTerm Definition Term Definition a name, term, design, symbol or any other feature that identifies one seller's good or service as distinct from those of other sellersTerm Definition the value a brand image provides retailersTerm Definition a potential customer's ability to recognize or recall that the brand name is a particular type of retailer or product/serviceTerm Definition when consumers indicate they know the brand when the name is presented to themTerm Definition the highest level of awareness that occurs when consumers mention a specific brand name first when they are asked about the type of retailer, merchandise category, or type of serviceTerm Definition anything linked to or connected with the brand name in a consumer's memoryTerm Definition specific goals related to the retail communication mix's effect on the customer's decision-making processTerm Co-Op (Cooperative) ProgramDefinition a promotional program undertaken by a vendor and a retailer working togetherTerm Definition analysis based on the economic principle that firms should increase communication expenditures as long as each additional dollar spent generates more than a dollar of additional contributionTerm Objective-and-Task MethodDefinition determines the budget required to undertake specific tasks to accomplish communication objectivesTerm Definition method using the past sales and communication activities to determine the present communication budgetTerm Affordable Budgeting MethodDefinition retailers first forecast their sales and expenses, excluding communication expenses, during the budgeting periodTerm Percentage-of-Sales MethodDefinition sets the communication budget as a fixed percentage of forecast salesTerm Competitive Parity MethodDefinition the communication is set so that the retailer's share of its communication expenses equals its share of the marketTerm Definition the retailer should allocate the budget to areas that will yield the greatest returnTerm Definition the number of times the ad appears in front of the usesTerm Definition the number of times a user clicks on an ad and divides it by the number of impressionsTerm Definition describes how useful an ad message is to the consumer doing the searchTerm Return on Advertising Investment (ROAI)Definition (Net sales - Advertising cost) / Advertising CostTerm Definition benefits that enable customers to locate and purchase products in an efficient and timely manner with minimum hassleTerm Definition benefits that offer customers an entertaining and enjoyable shopping experienceTerm Definition the equipment used to display merchandiseTerm Definition layout with parallel aisles with merchandise on shelves on both sides of the aisles with cash registers located at the entrances/exits of the storesTerm Definition a store layout that provides a major aisle that loops around the store to guide customer traffic around different departments within the store. POS terminals are typically located in each department bordering the racetrackTerm Free-Form/Boutique LayoutDefinition a layout that arranges fixtures and aisles in an asymmetric patternTerm Definition signs whose visual content is delivered electronically through a centrally managed and controlled network, distributed to servers in stores, and displayed on flat-panel screensTerm Definition the areas within a store that are designed to get customers' attentionTerm Definition fixtures that are located on aisles and designed primarily to attract customers' attention and bring them into a departmentTerm Definition a life-size representation of the human body, used for displaying apparelTerm Definition displays located at the end of an aisle in stores using a grid layoutTerm Definition a space used to display merchandise that is being promotedTerm Cash Wraps/Point-of-Purchase (POP) Counters/Checkout AreasDefinition places in the store where customers can purchase merchandiseTerm Sales Per Square Foot & Sales Per Linear FootDefinition commonly used measures of space productivityTerm Demand/Destination MerchandiseDefinition products that customers have decided to buy before entering the storeTerm Definition products that are purchased without planning. They are almost always located near the front of the store, where they're seen by everyone and may actually draw people into the storeTerm Definition a diagram that shows how and where specific SKU's should be placed on retail shelves or displays to increase customer purchasesTerm Definition the presentation of a store and its merchandise in ways that will attract the attention of potential customersTerm Definition a rack consisting of a long pipe balanced between supports in the floor or attached to a wallTerm Rounder/Bulk Fixture/Capacity FixtureDefinition a round fixture that sits on a pedestalTerm Four-Way Fixture/Feature FixtureDefinition a fixture with two crossbars that sit perpendicularly on a pedestalTerm Definition an island type of self-service counter with tiers of shelves, bins, or pegsTerm Idea-Oriented PresentationDefinition a method of presenting merchandise based on a specific idea or the image of the storeTerm Definition occurs when retailers offer a limited number of pre-determined price points and/or price categories within another classification that are merchandised togetherTerm Definition a way of organizing merchandise by presenting it vertically using walls and high gondolasTerm Definition a display technique in which large quantities of merchandise are displayed togetherTerm Definition a method of displaying merchandise in which the retailer exposes as much of the product as possible to catch the customer's eyeTerm Definition the design of an environment by stimulation of the five sensesTerm Definition the set of activities and programs undertaken by retailers to make the shopping experience more rewardingTerm Definition requires that service providers tailor their services to meet each customer's personal needsTerm Definition service that is based on establishing a set of rules and procedures for providing high-quality service and ensuring that they get implemented consistentlyTerm Definition the ability to perform the service dependably and accurately, such as performing the service as promised or contracted or meeting promised delivery datesTerm Definition the knowledge and courtesy of employees and their ability to convey trust and confidenceTerm Definition associated with the appearances of physical facilities, equipment, personnel, and communication materialsTerm Definition the caring, individualized attention provided to customersTerm Definition to provide customer service personnel and sales associates that really want to help customers and provide prompt serviceTerm Definition when the customer's perception of the service delivered by a retailer fails to meet the customer's expectationsTerm Definition reflects the difference between customers' expectations and the retailer's perception of those customer expectationsTerm Definition the difference between the retailer's knowledge of customer's perceptions and expectations and the service standards it setsTerm Definition the difference between the retailer's service standards and the actual service it provides to customersTerm Definition the difference between the actual service provided to customers and the service that the retailer's promotion program promisesTerm Definition a way to assess the favorableness (or lack of favorableness) in their customers' sentiments by monitoring these social mediaTerm Definition allowing employees at the firm's lowest levels to make important decisions regarding how service will be provided to customersTerm Definition appropriate systems and equipmentTerm Definition demonstrating a concern for the well-being of othersTerm Definition a customer's perception of the benefits received compared with his or her costs in terms of inconvenience or monetary lossTerm Definition the perceived fairness of the process used to resolve complaintsTerm It is the inventory used to guard against going out of stock when demand exceeds forecastsDefinition What is true of a retailer's backup stock?Term Definition The ________ compares actual and planned sales to determine whether more merchandise is needed to satisfy demand or whether price reductions are requiredTerm Matching Supply and DemandDefinition Overbooking appointments, taking reservations for dinner, and selling advance tickets are examples of _____ by service retailers.Term Definition The purpose of a(n) _______ system is to keep track of what the present inventory level is, when purchased merchandise is scheduled for deliver, and how much has been sold to customer.Term The allocation decision depends on the current inventory in a store.Definition Which of the following must be considered when allocating merchandise to stores?Term Definition A ______ is a group of items targeting the same customer type, such as men's designer sweaters.Term Allocate the merchandise purchased.Definition After developing a plan for managing merchandise inventory in a category, the next step in the merchandise management process is to ________.Term It is likely to take inputs from fashion trend services.Definition Which of the following is true of forecasting for fashion merchandise categories?Term Higher level of stimulation associated with the shopping experience.Definition When a retailer offers large assortments, there is a:Term Definition ______ is the breadth of a retailer's merchandise and the number of different merchandising categories within a store or departmentTerm The quantity of the merchandise in terms of too much or too littleDefinition Which of the following has the least importance when making decisions about purchasing and allocating merchandise to stores?Term Offers less flexibility in correcting forecasting errors.Definition Term Definition ______ is the depth of merchandise and the number of SKUs within a subcategoryTerm Definition The ____________ is the number of each SKU in an assortment plan that the buyer wants to have available for purchase in a store.Term Definition Merchandise like athletic socks, soup, tap, and men's work boots are classified as ______.Term Definition In a(n) ________, the retail buyer provides a specification for what they would like to be produced for their private-label products and then manufacturers bid on the opportunity to be the supplier.Term Definition Kohl's Department store and the Vera Wang Company worked together on developing a brand called Simply Vera to be carries exclusively at Kohl's. They shared market research of what their target customer needs, like, and dislikes were to develop the right assortment at the right price. They agree to respond to the market nuances together, share trends, and sales analysis. This describes an example of ________.Term Definition __________ is when a vendor and a retailer share the costs and benefits of a pricing promotion.Term Definition Mead paper products, Cover Girl cosmetics, and Apple computers are all examples of ________ brands.Term facilitate the bulk sale of a vendor's offerings.Definition Wholesale market centers:Term Definition Kellog's is a family brand that is associated with the Frosted Flakes _____ brand.Term Definition _________ prohibits vendors from offering different retailers different prices and purchase order terms for the same merchandise and quantity.Term Definition _________ offer the consumer a product that is comparable to a manufacturer's brand quality, sometimes with modest price savings.Term Definition Which of the following is a feature of production facilities located in a developing economies?Term Definition For a retailer, which of the following steps would help in negotiating a deal with vendors effectively?Term Definition _________ includes goods made and sold without the permission of the owner of a trademark or copyrightTerm overall risk in investment decreasesDefinition In strategic relationships, the:Term Definition The menswear buyers from Macy's is attending the "MAGIC Marketplace" to search for new trends, meet existing vendors, and talk to sales representatives as they walk through the exhibit area. The buyer is at ______.Term Definition Cure, a pharmacy store, retails its own set of products that closely imitates a popular manufacturer's brand in appearance and packaging. This is an example of a ______ brand.Term Definition ___________ are charges imposed by a retailer to stock a new item.Term Definition Which of the following is true of sales promotions?Term Definition The judges in the television show of American Idol have Coca Cola logoed cups on their table. This is an example of ______.Term Definition When Joe's guests were arriving for his Super Bowl party, they asked him if he remembered to order pizzas. Joe quickly used speed dial on his cell phone to reach his favorite Domino's. Domino's has what type of brand equity with Joe?Term Definition Which of the following is generally the most expensive form of communication?Term Definition When Dave Carroll's $3500 guitar was damage by United Airlines, he made a music video about it which quickly became viral on the Internet mostly due to ______.Term Definition In the _______ method, retailers first forecast their sales and expenses, excluding communication expenses, during the budgeting period.Term is likely to be very personalized and interactiveDefinition Marketing through a retailer's website:Term can reduce their reliance on price promotions.Definition When retailer have high customer loyalty, they:Term Definition _______ refers to a potential customer's ability to recognize or recall that the brand name is a particular type of retailer or product/service.Term defined the target audience for a communication mixDefinition Term Definition REI’s sustainable outdoor products come with ecosensitive labels that help consumers easily track items made from a high percentage of recycled, rapidly renewable and/or organic fibers. About one-fourth of all REI locations are supplied by green energy, six of its buildings are LEED-certified, and REI’s employees are encouraged to be green with biking and public transportation incentives. Plus, REI has plans to become both climate neutral and a zero-waste-to-landfill company by 2020 through emission cuts, green energy, and carbon offsets. These initiatives are best communicated through _____.Term Definition _____ are specific goals related to the retail communication mix's effect on the customer's decision-making process.Term Starbucks coffee has a strong brand loyalty from Lori.Definition When Lori travels to visit friends and family, she brings along her own Starbucks coffee grounds in case her friends and family use a different kind of coffee. Based upon this scenario:Term Definition _____ is a communication among people about an entity such as a retailer or a product or serviceTerm Definition he college football game played in Atlanta, Georgia’s “dome” was formerly titled the Peach Bowl but is now titled the Chick-fil-A Bowl. What best describes this type of communication method?Term Definition The store management is responsible for controlling their costs. What is the largest expense that they need to manage?Term Definition Term recruiting and selecting applicants to work for the retailerDefinition There are many responsibilities of store management. The first step in the management process that affects store employees’ productivity is _____.Term Definition A store manager who does not seek or welcome employee input when he or she is making decisions about how the store should be operated is considered to be a(n) _____ leader.Term Definition Which of the following would cause shrinkage?Term is administered in the form of a commission.Definition An incentive compensation plan:Term seek information and opinions from employees and base their decisions on this information.Definition Term Definition Chelsea was recognized as the top sales associate at a Macy’s store for the year. Her name, along with the names of previous year’s winners, is engraved on a plaque that is prominently displayed in the store. This is an example of _____.Term Definition Chelsea was recognized as the top sales associate at a Macy’s store for the year. Her name, along with the names of previous year’s winners, is engraved on a plaque that is prominently displayed in the store. This is an example of _____.Term Undertake a job description.Definition Amber has her store front leased for her women’s clothing and accessory retail business. She needs employees to help her be ready for the grand opening and to help with the day-to-day business of operating a retail business. What should Amber do to hire the best employees and lessen the risk of high employee turnover?Term Definition The following examples illustrate _____. - Drive sales by overseeing sales floor operations throughout the entire store. - Manage the guest service and merchandising of two to three departments with sales ranging from $2-$9 million. - Provide training, feedback, and follow up on merchandising skills for sales floor team members. - Recruit, select, develop, and retail talented team members. - Act as leader on duty on a rotating basis, by responding to customer and team member concerns, opening and closing the store and ensuring all property and personnel are secure and safe.Term What happens if your husband/wife gets transferred or needs to relocate?Definition Which of the following would be inappropriate to ask at an interview?Term is easy for the employee to comprehend.Definition A straight salary compensation plan:Term Definition _____ is likely to be a shoplifter.Term include recognition and benefits.Definition Term Definition _____ are the activities store managers undertake to make sure that employees are satisfied and work well togetherTerm Definition Which of the following is most likely to be placed in the “strike zone”?Term Definition As customers enter the store Sunny Side Up, a swimwear and beach apparel store, they first become aware of the pleasant seaside smell along with the slight breeze from the large ceiling fans. The store is well lit utilizing lots of natural light and accent lights on featured merchandise. The music playing is fun-loving beach themed artists and songs. This environment has (an) attractive _____.Term high traffic areas, good for impulse items.Definition Areas near the escalators and cash wraps are considered to be:Term high traffic areas, good for impulse items.Definition Areas near the escalators and cash wraps are considered to be:Term Definition The lowest sales per square foot area within the store is usually in the _____.Term Definition A _____ is an island type of self-service counter with tiers of shelves, bins, or pegs.Term does not encourage unplanned purchasesDefinition Term It reduces payroll costs.Definition Which of the following is true of smaller format stores with respect to store size?Term Definition _____ signs are placed near the merchandise they refer to so that customers know its price and other detailed information.Term Definition The store design that provides a major aisle to facilitate customer traffic with access to the store's multiple entrances is the _____ layout.Term Definition What form of layout is best suited for grocery stores?Term Definition _____ occurs when retailers offer a limited number of pre-determined price points and/or price categories within another classification that are merchandised together.Term Definition “Stock it high and let it fly” is utilizing the _____.Term The target market’s shopping goalsDefinition Which of the following does the retail store design team considers to decipher how exciting the store should be?Term bathrooms with handrails or grab barsDefinition Providing _____ in stores is done to comply with the ADA.Term Definition Stores provide _____ when it enables customers to locate and purchase products in an efficient and timely manner with minimum hassle.Term Definition The _____ gap is the difference between the actual service provided to customers and the service that the retailer’s promotion program promises.Term Definition When employees have _____, they have the best ability to fully serve their customers.Term Definition _____ is the knowledge and courtesy of employees and their ability to convey trust and confidence.Term Definition The _____ gap is the difference between the retailer’s service standards and the actual service it provides to customers.Term differentiate itself from other book retailersDefinition When Ashley was shopping online and entered the Amazon.com site, it immediately recognized her from her browsing history and cookies. The site listed recommendations for her based upon her past purchases and even items she only looked at but did not purchase. These customer service aspects allow Amazon.com to _____.Term Definition The _____ gap reflects the difference between customers’ expectations and the retailer’s perception of those customer expectations.Term Definition _____ refers to the caring, individualized attention provided to customers.Term Definition _____ is the perceived fairness of the process used to resolve complaints.Term Definition Amy purchased a new suit at a local mall to wear for her interview. After she got home, she found that the sensor/ink tag was still on the jacket sleeve. Amy was frustrated as she could not remove it herself and called up the store. The sales associate soon arrived at Amy’s home with the device that would remove the sensor/ink tag for her and rectified the situation. The retailer would later review this situation and realize they need to work on closing the _____ gap.Term Definition The _____ gap pertains to the difference between the retailer’s knowledge of customers’ perceptions and expectations and the service standards it sets.Term Definition In the USA, many higher end retailers focused on superior customer service have the mantra “the customer is always right”. In which country do retailers take this to an even higher level with the mantra “the customer is god”?Term Provide excellent customer service.Definition What is the most effective approach for a retailer to develop a sustainable competitive advantage?Term Definition Tara was shopping for shoes at a mall. The sales associate at Nordstrom’s greeted her when she entered the footwear area and showed her the new back-to-school season arrivals. The sales associate brought out suggestions of different styles that met what Tara expressed she was interested in and stayed with her throughout her shopping experience. The same sales associate completed Tara’s transactions at the cash wrap and after putting the shoes in a shopping bag, walked around the counter to hand the bag to Tara and thanked her for shopping at Nordstrom’s. This sales service can best be described as _____.Term requires a specialized and skilled set of service providers.Definition Personalized customer service:Term Encourage Amanda to complain by listening without interruption.Definition Amanda was upset about the service she received when she was shopping at a department store in the cosmetics department. First, the different sales people in the area were clustered together talking and laughing and not paying attention to any customers. Then when Amanda asked for her regular color of foundation which was priced at $49, the sales associate simply stated that they were out of stock and did not offer an alternative. Amanda went to the customer service desk and asked to speak to the store manager. What can the manager do to recover from this service failure? Why are category specialists sometimes called category killers?By offering a complete assortment in a category at low prices, category specialists can “kill” a category of merchandise for other retailers and thus are frequently called “category killers”.
What does it mean when a merchandise category has a high sales to stock ratio?In general, the higher the ratio number the better as it most often indicates strong sales. A lower ratio can point to weak sales and/or decreasing market demand for the goods.
What is an example of staple merchandise?Staple merchandise consists of the items that are regularly purchased, displayed and sold by the retailers. For a grocery store, staple merchandise will be bread, butter, milk, salt, eggs, tissues and so on.
What type of retailers sell products from a specific category or are limited to one line or brand?Specialty Stores: concentrate on a limited number of complementary merchandise categories and provide a high level of service in relatively small stores. Specialty stores tailor their retail strategy toward very specific market segments by offering deep but narrow assortments and sales associate expertise.
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Categories consist of items whose sales fluctuate dramatically depending on the time of year
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