Term
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Definition
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distribution of goods and services to the consumer
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Term
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Definition
| 20 million (1 in 5 Americans) |
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Term
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Definition
| All of the activities involved in selling of goods and services to the final consumer |
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Term
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Definition
| kinds of good the offer, ownership, their prices, locations, organizational, and operational characteristics |
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Term
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Definition
- Stored: brick and mortar, traditional store front (where you can go to shop)
- non-stored: catalog, online, TV etc. (not a physical location
also, multichannel which is both stored and non-stored (ex: victoria's secret)
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Term
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Definition
distribution center
physical place for sales, the space they own and people who work there, products and services |
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Term
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Definition
| buying and selling of goods to make profit |
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Term
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Definition
entire aspect of company
deals with personal matters, hiring, firing, training, salaries, benefits, etc. |
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Term
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Definition
dealing with numbers and money matters
accounting, bookkeeping, loss prevention, debits and credits |
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Term
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Definition
getting the name out
advertising, public relations, fashion office, visual merchandising, and display |
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Term
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Definition
variety: (broad or narrow) number of merchandise categories
breath of merchandise (horizontally)
assortment: (deep or shallow) number of different items in a merchandise category (vertically) |
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Term
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Definition
| responsible for merchandising and operations of a department |
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Definition
| responsible for a group of stores in a geological area (ex: midwest division) |
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Term
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Definition
| supervises a group of District Managers and reports to a Vice President |
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Term
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Definition
| responsible for the entire store |
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Term
| department vs. specialty store |
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Definition
department: broad and deep; many departments under one roof
specialty store: narrow and shallow; one particular type of merchandise or related merchandise |
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Term
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Definition
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§ Chain Store: many of one store
§ Supermarket: grocery store
§ Hypermarket: walmart, target
§ Warehouse: Costco, BJ’s
§ Convenience: Circle K
§ Off Price: TJ Maxx, Marshalls
§ Discount: dollar store
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Term
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Definition
§ Full-line (walmart)
§ Category killer (low price, specialty like bass pro)
§ Off-price (TJ Maxx)
§ Closeout store (Big Lots)
§ Manufacturer’s Outlet
§ Warehouse club (Costco, BJ’s)
§ Supercenter (Super Walmart, Target Greatland)
§ Weekend warrior (open part time)
§ Destination store (draw customers in like home depot)
§ Warehouse showroom (no-wait furniture)
§ Extreme value store (low-priced basic goods)
§ Megastore (huge category killer)
§ Airpert shop (specialty shops for travelers)
§ Auction/trade (ebay)
§ Vending machine
§ TV (HSN, QVC)
§ At home/parties (Tupperware parties)
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Term
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Definition
· Work with newest merchandise
· Opportunities all over the world
· Great financial rewards
· Company paid travel if needed
· Store discount
· Always changing and dynamic
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Term
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Definition
· Long hours and weekend
· Tough competition
· Always changing and dynamic
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Term
| Characteristics of an Effective Visual Merchandiser |
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Definition
§ Mental flexibility
§ Option thinking
§ Pig picture thinking
§ Skill in explaining and selling ideas
§ Intellectual and creative courage
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Term
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Definition
§ Primarty objective is to implement retailers strategy
§ Meet needs of target market
§ Builds sustainable competitive advantage
§ Display the store’s image
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Term
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Definition
§ Implement retailers structure
§ Influence buying behavior
§ Control design and maintenance costs
§ Provide flexibility
§ Meet legal requirements
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Term
| What is Visual Merchandising? |
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Definition
§ To show and sell a product
· By creating an image
· Carrying out a design concept, plans by atmosphere
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Term
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Definition
| to entertain, educate and introduce/explain new products, sell by showing, establish/promote/enhance store image |
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Term
| Impact on customer behavior |
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Definition
| attract customers, make merchandise easy to locate, keep them in store for longer, motivate to make unplanned purchases, provide satisfying experience |
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Term
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Definition
| merchandise, fixtures and props, arrangement, message/theme, lighting, space, signage |
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Term
| legal considerations : ADA |
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Definition
Americans with disabilities act
people need reasonable access to merchandise, protects from discrimination of any kind or at any level |
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Term
| legal considerations: Reasonable Access |
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Definition
32 inch pathways
bathroom and fitting rooms fully accessible |
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Term
| Store Layout: Grid Layout |
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Definition
long gondolas (repetitive)
easy to locate merchandise
allows for more merchandise to be displayed
cost efficient
(used in grocery, dscount and drug stores) |
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Term
| store layout: Racetrak Layout |
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Definition
loop with major aisle
draws customers around the store
provide different lines and encourage exploration (impulse) |
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Term
| store layout: Free-Form Layout |
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Definition
fixture and aisles asymmetrical
relaxing ambiance (not cheap)
inefficient use of space
more susceptible to shoplifting
specialty and upscale department |
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Term
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Definition
most valuable resource we have
seconds, minutes, hours, days |
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Term
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Definition
method of time prioritizing
live in present, plan future
(set goals) |
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Term
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Definition
events/goals that motivate and necessitate actions
daily activities |
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Term
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Definition
| keep a log, take advantage of options, manage time, leave work at work, nurture yourself, fight guilt, get sleep, bolster support system, enjoy yourself |
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Term
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Definition
need money
benefits (discounts, medical, etc)
self-actualization
enjoyment/passion |
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Term
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Definition
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Term
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Definition
| work expands to available time |
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