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Retail Management Exam 2
Chapter 12, 13, 15-18
262
Marketing
Undergraduate 4
12/04/2015

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Term
ABC Analysis
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 plan
Term
Assortment/Depth
Definition
the set of SKUs that a retailer will offer in a merchandise category in each of its stores and from its website
Term
Assortment Plan
Definition
chapter 12
Term
Base/Cycle Stock
Definition
inventory for which the level goes up and down due to the replenishment process
Term
Basic/Staple Merchandise
Definition
categories that are in continuous demand over an extended time period
Term
Breaking Sizes
Definition
stocking out of a specific size or color SKU
Term
Breadth/Variety
Definition
the number of different merchandising subcategories offered
Term
Category Captain
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 category
Term
Category Management
Definition
an approach to managing merchandise that assigns one buyer or category manager to oversee all merchandising activities for the entire category
Term
Classification
Definition
a group of items targeting the same customer type - the third level for categorizing merchandise and organizing merchandise management activities
Term
Continuous Replenishment
Definition
systems that involve continuously monitoring merchandise sales and generating replacement orders, often automatically, when inventory levels drop below predetermined levels
Term
Department
Definition
the second level in the merchandise classification scheme. They are managed by divisional merchandise managers (DMMs)
Term
Editing the Assortment
Definition
the process of determining the variety and assortment for a category
Term
Fashion Merchandise
Definition
categories that are in demand only for a relatively short period of time
Term
Fill Rate
Definition
the percentage of SKUs received complete on a particular order from a vendor
Term
Focus Group
Definition
a small group of respondents interviewed by a moderator using a loosely structured format
Term
In-Depth Interview
Definition
an unstructured personal interview in which the interviewer uses extensive probing to get individual respondents to talk in detail about a subject
Term
Lead Time
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 sale
Term
Markdown Money
Definition
funds vendors give retailers to cover lost gross margin dollars due to the markdowns needed to sell unpopular merchandise
Term
Merchandise Budget Plan
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 objectives
Term
Merchandise Category
Definition
an assortment of items that customers see as substitutes for one another
Term
Merchandise Group
Definition
the highest classification level of organization of the merchandise i.e. women's apparel, cosmetics, home & kitchen, etc
Term
Merchandise Management
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 goals
Term
Model Stock Plan
Definition
the number of each SKU in the assortment plan that the buyer wants to have available for purchase
Term
Multiattribute Analysis
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 issues
Term
Open-to-Buy
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 customers
Term
Order Point
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 arrives
Term
Perpetual Inventory
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 store
Term
Product Availability/Service Level/Level of Support
Definition
the percentage of the demand for a particular SKU that is satisfied
Term
Safety/Backup/Buffer Stock
Definition
number of units held that determines product availability
Term
Seasonal Merchandise
Definition
categories that consist of items whose sales fluctuate dramatically depending on the time of year
Term
Sell-Through Analysis
Definition
compares actual and planned sales to determine whether more merchandise is needed to satisfy demand or whether price reductions (markdowns) are require
Term
Shopworn
Definition
slightly damaged from being displayed and handled by customers for a long time
Term
Shrinkage
Definition
inventory losses caused by shoplifting, employee theft, merchandise being misplaced or damaged, and poor bookkeeping
Term
SKU Rationalization Program
Definition
a program that analyzes the benefits the retailers might gain from deleting, adding, or keeping certain items in their assortments
Term
Stock-Keeping Unit (SKU)
Definition
the smallest unit available for inventory control
Term
Stock-to-Sales Ratio
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 category
Term
Natioal/Manufacturer's Brands
Definition
products designed, produced, and marketed by a vendor and sold to many different retailers
Term
Umbrella/Family Brand
Definition
a larger company that is associated with the smaller company's brand
Term
Subbrand
Definition
a brand associated with the product
Term
Store/Private-Label/House/Own Brands
Definition
products developed by retailers
Term
Natioal/Manufacturer's Brands
Definition
products designed, produced, and marketed by a vendor and sold to many different retailers
Term
Umbrella/Family Brand
Definition
a larger company that is associated with the smaller company's brand
Term
Subbrand
Definition
a brand associated with the product
Term
Store/Private-Label/House/Own Brands
Definition
products developed by retailers
Term
Premium Store Brands
Definition
brands that offer the consumer a product that is comparable to a manufacturer's brand quality, sometimes with modest price savings
Term
Exclusive Brand
Definition
a brand that is developed by a national-brand vendor, often in conjunction with a retailer, and sold exclusively by the retailer
Term
Copycat Brands
Definition
brands that imitate the manufacturer's brand in appearance and packaging, generally are perceived as lower-quality, and are offered at lower prices
Term
Generic Brands
Definition
brands that are labeled with the name of the commodity and thus actually have no brand name distinguishing them
Term
Wholesale Market
Definition
a concentration of vendors within a specific geographic location
Term
Market Weeks
Definition
weeks during which buyers make appointments to visit the various vendor showrooms
Term
Trade Shows
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 area
Term
Tariffs/Duties
Definition
taxes collected by a government on imports
Term
Resident Buying Offices
Definition
organizations located in major market centers that provide services to help retailers buy merchandise
Term
Reverse Auctions
Definition
an auction in which there is one buyer (the retailer) and many potential sellers (the manufacturing firms)
Term
Slotting Fees/Allowances
Definition
charges imposed by a retailer to stock a new item
Term
Slotting Fees/Allowances
Definition
charges imposed by a retailer to stock a new item
Term
Co-Op (Cooperative) Advertising
Definition
a program undertaken by a vendor in which the vendor agrees to pay for all or part of a pricing promotion
Term
Strategic/Partnering Relationship
Definition
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 parties
Term
Trust
Definition
a belief that a partner is honest and benevolent
Term
Counterfeit Merchandise
Definition
merchandise including goods made and sold without the permission of the owner of a trademark or copyright
Term
Intellectual Property
Definition
property that is intangible and created by intellectual (mental) effort as opposed to physical effort
Term
Trademark
Definition
any mark, word, picture, device, or nonfunctional design associated with certain merchandise
Term
Copyright
Definition
protects the original work of authors, painters, sculptors, musicians, and others who produce works of artistic or intellectual merit
Term
Gray-Market/Parallel Imports
Definition
involve the flow of merchandise through distribution channels, usually across international borders, other than those authorized or intended by the manufacturer or producer
Term
Diverted Merchandise
Definition
similar to parallel imports but there need not be distribution across international borders
Term
Black Market
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 arms
Term
Commercial Bribery
Definition
occurs when a vendor or its agent offers or a buyer asks for "something of value" to influence purchase decisions
Term
Chargeback
Definition
a practice used by retailers in which they deduct money from the amount they owe a vendor
Term
Buybacks/Stocklifts/Lift-Outs
Definition
activities engaged in by vendors and retailers to get old products out of retail stores and new products in their place
Term
Exclusive Dealing Agreements
Definition
agreements that occur when a vendor restricts a retailer to carrying only its products and nothing from competing vendors
Term
Tying Contract
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 desire
Term
Corporate Social Responsibility
Definition
the voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations
Term
Fair Trade
Definition
a socially responsible movement that ensures that produces receive fair prices for their products
Term
Greenwashing/Green Sheen
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 environment
Term
Green
Definition
when a company operates with consideration for the environment rather than spending resources on environmentally sound practices
Term
Integrated Marketing Communication Program
Definition
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 channels
Term
Freestanding Insert (FSI)/Preprint
Definition
an advertisement printed at the retailer's expense and distributed as an insert in the newspaper
Term
Direct Mail
Definition
any brochure, catalog, advertisement, or other printed marketing material delivered directly to the consumer through the mail or a private delivery company
Term
Spots
Definition
ads in local markets as opposed to national ads
Term
Sales Promotions
Definition
special incentives or excitement-building programs that encourage consumers to purchase a particular product or service
Term
Coupons
Definition
offer a discount on the price of specific items when they are purchased
Term
Rebates
Definition
a refund issued by the manufacturer as a portion of the purchase price returned to the buyer in the form of cash
Term
Premium
Definition
offers an item for free or at a bargain price to reward some type of behavior, such as buying, sampling, or testing
Term
Point-of-Purchase (POP) Displays
Definition
merchandise displays located at the point of purchase
Term
Samples
Definition
offer potential customers the opportunity to try a product or service before they make a buying decision
Term
Special Event
Definition
a sales promotion program comprising a number of sales promotion techniques built around a seasonal, cultural, sporting, musical, or some other type of activity
Term
Event Sponsorship
Definition
occurs when retailers support various activities, usually in the cultural or sports and entertainment sectors
Term
Personal Selling
Definition
a communication process in which sales associates help customers satisfy their needs through face-to-face exchanges of indformation
Term
Public Relations (PR)
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 media
Term
Cause-Related Marketing Campaign
Definition
commercial activity in which businesses and charities form a partnership to market an image, product, or service for their mutual benefit
Term
Product Placement
Definition
when retailers and vendors pay to have their product included in nontraditional situations, such as in a scene in a movie or television program
Term
Search Engine Marketing (SEM)
Definition
marketing used to improve the visibility of their websites in searches
Term
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 theory
Term
E-mail
Definition
sending messages over the Internet to specific individuals
Term
Mobile Communications
Definition
communication through wireless handheld devices
Term
M-Commerce (Mobile Commerce)
Definition
completing a transaction via a mobile device
Term
Social Media
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 content
Term
Sentiment Mining
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 campaigns
Term
Blog (Weblog)
Definition
an individual or group of users regularly post their opinions and various topical information on a web page
Term
Word of Mouth
Definition
communication among people about an entity such as a retailer or a product or service
Term
Microblog
Definition
a short version of a blog
Term
Brand Images
Definition
a strategic objective
Term
Brand
Definition
a name, term, design, symbol or any other feature that identifies one seller's good or service as distinct from those of other sellers
Term
Brand Equity
Definition
the value a brand image provides retailers
Term
Brand Awareness
Definition
a potential customer's ability to recognize or recall that the brand name is a particular type of retailer or product/service
Term
Aided Recall
Definition
when consumers indicate they know the brand when the name is presented to them
Term
Top-of-Mind-Awareness
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 service
Term
Brand Association
Definition
anything linked to or connected with the brand name in a consumer's memory
Term
Communication Objectives
Definition
specific goals related to the retail communication mix's effect on the customer's decision-making process
Term
Co-Op (Cooperative) Program
Definition
a promotional program undertaken by a vendor and a retailer working together
Term
Marginal Analysis
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 contribution
Term
Objective-and-Task Method
Definition
determines the budget required to undertake specific tasks to accomplish communication objectives
Term
Rule-of-Thumb Methods
Definition
method using the past sales and communication activities to determine the present communication budget
Term
Affordable Budgeting Method
Definition
retailers first forecast their sales and expenses, excluding communication expenses, during the budgeting period
Term
Percentage-of-Sales Method
Definition
sets the communication budget as a fixed percentage of forecast sales
Term
Competitive Parity Method
Definition
the communication is set so that the retailer's share of its communication expenses equals its share of the market
Term
High-Assay Principle
Definition
the retailer should allocate the budget to areas that will yield the greatest return
Term
Impressions
Definition
the number of times the ad appears in front of the uses
Term
Click-Through Rate (CTR)
Definition
the number of times a user clicks on an ad and divides it by the number of impressions
Term
Relevance
Definition
describes how useful an ad message is to the consumer doing the search
Term
Return on Advertising Investment (ROAI)
Definition
(Net sales - Advertising cost) / Advertising Cost
Term
Utilitarian Benefits
Definition
benefits that enable customers to locate and purchase products in an efficient and timely manner with minimum hassle
Term
Hedonic Benefits
Definition
benefits that offer customers an entertaining and enjoyable shopping experience
Term
Fixtures
Definition
the equipment used to display merchandise
Term
Grid Layout
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 stores
Term
Racetrack Layout / Loop
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 racetrack
Term
Free-Form/Boutique Layout
Definition
a layout that arranges fixtures and aisles in an asymmetric pattern
Term
Digital Signage
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 screens
Term
Feature Areas
Definition
the areas within a store that are designed to get customers' attention
Term
Freestanding Displays
Definition
fixtures that are located on aisles and designed primarily to attract customers' attention and bring them into a department
Term
Mannequin
Definition
a life-size representation of the human body, used for displaying apparel
Term
End Caps
Definition
displays located at the end of an aisle in stores using a grid layout
Term
Promotional Aisle/Area
Definition
a space used to display merchandise that is being promoted
Term
Cash Wraps/Point-of-Purchase (POP) Counters/Checkout Areas
Definition
places in the store where customers can purchase merchandise
Term
Sales Per Square Foot & Sales Per Linear Foot
Definition
commonly used measures of space productivity
Term
Demand/Destination Merchandise
Definition
products that customers have decided to buy before entering the store
Term
Impulse Products
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 store
Term
Planogram
Definition
a diagram that shows how and where specific SKU's should be placed on retail shelves or displays to increase customer purchases
Term
Visual Merchandising
Definition
the presentation of a store and its merchandise in ways that will attract the attention of potential customers
Term
Straight Rack
Definition
a rack consisting of a long pipe balanced between supports in the floor or attached to a wall
Term
Rounder/Bulk Fixture/Capacity Fixture
Definition
a round fixture that sits on a pedestal
Term
Four-Way Fixture/Feature Fixture
Definition
a fixture with two crossbars that sit perpendicularly on a pedestal
Term
Gondola
Definition
an island type of self-service counter with tiers of shelves, bins, or pegs
Term
Idea-Oriented Presentation
Definition
a method of presenting merchandise based on a specific idea or the image of the store
Term
Price Lining
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
Vertical Merchandising
Definition
a way of organizing merchandise by presenting it vertically using walls and high gondolas
Term
Tonnage Merchandising
Definition
a display technique in which large quantities of merchandise are displayed together
Term
Frontal Presentation
Definition
a method of displaying merchandise in which the retailer exposes as much of the product as possible to catch the customer's eye
Term
Atmospherics
Definition
the design of an environment by stimulation of the five senses
Term
Customer Service
Definition
the set of activities and programs undertaken by retailers to make the shopping experience more rewarding
Term
Personalized Service
Definition
requires that service providers tailor their services to meet each customer's personal needs
Term
Standardized Service
Definition
service that is based on establishing a set of rules and procedures for providing high-quality service and ensuring that they get implemented consistently
Term
Reliability
Definition
the ability to perform the service dependably and accurately, such as performing the service as promised or contracted or meeting promised delivery dates
Term
Assurance
Definition
the knowledge and courtesy of employees and their ability to convey trust and confidence
Term
Tangibility
Definition
associated with the appearances of physical facilities, equipment, personnel, and communication materials
Term
Empathy
Definition
the caring, individualized attention provided to customers
Term
Responsiveness
Definition
to provide customer service personnel and sales associates that really want to help customers and provide prompt service
Term
Service Gap
Definition
when the customer's perception of the service delivered by a retailer fails to meet the customer's expectations
Term
Knowledge Gap
Definition
reflects the difference between customers' expectations and the retailer's perception of those customer expectations
Term
Standards Gap
Definition
the difference between the retailer's knowledge of customer's perceptions and expectations and the service standards it sets
Term
Delivery Gap
Definition
the difference between the retailer's service standards and the actual service it provides to customers
Term
Communication Gap
Definition
the difference between the actual service provided to customers and the service that the retailer's promotion program promises
Term
Sentiment Analysis
Definition
a way to assess the favorableness (or lack of favorableness) in their customers' sentiments by monitoring these social media
Term
Empowerment
Definition
allowing employees at the firm's lowest levels to make important decisions regarding how service will be provided to customers
Term
Instrumental Support
Definition
appropriate systems and equipment
Term
Emotional Support
Definition
demonstrating a concern for the well-being of others
Term
Distributive Fairness
Definition
a customer's perception of the benefits received compared with his or her costs in terms of inconvenience or monetary loss
Term
Procedural Fairness
Definition
the perceived fairness of the process used to resolve complaints
Term
It is the inventory used to guard against going out of stock when demand exceeds forecasts
Definition
What is true of a retailer's backup stock?
Term
Sell-Through Analysis
Definition
The ________ compares actual and planned sales to determine whether more merchandise is needed to satisfy demand or whether price reductions are required
Term
Matching Supply and Demand
Definition
Overbooking appointments, taking reservations for dinner, and selling advance tickets are examples of _____ by service retailers.
Term
Open-to-Buy
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
Merchandise Group
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
Variety
Definition
______ is the breadth of a retailer's merchandise and the number of different merchandising categories within a store or department
Term
The quantity of the merchandise in terms of too much or too little
Definition
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
Fashion merchandise:
Term
Assortment
Definition
______ is the depth of merchandise and the number of SKUs within a subcategory
Term
Model Stock Plan
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
Staple Merchandise
Definition
Merchandise like athletic socks, soup, tap, and men's work boots are classified as ______.
Term
Reverse Auction
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
A Strategic Relationship
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
Cooperative Advertising
Definition
__________ is when a vendor and a retailer share the costs and benefits of a pricing promotion.
Term
National
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
Sub
Definition
Kellog's is a family brand that is associated with the Frosted Flakes _____ brand.
Term
The Robinson-Patman Act
Definition
_________ prohibits vendors from offering different retailers different prices and purchase order terms for the same merchandise and quantity.
Term
Premium store branda
Definition
_________ offer the consumer a product that is comparable to a manufacturer's brand quality, sometimes with modest price savings.
Term
Tariffs
Definition
Which of the following is a feature of production facilities located in a developing economies?
Term
Being aware of deadlines
Definition
For a retailer, which of the following steps would help in negotiating a deal with vendors effectively?
Term
Counterfeit merchandise
Definition
_________ includes goods made and sold without the permission of the owner of a trademark or copyright
Term
overall risk in investment decreases
Definition
In strategic relationships, the:
Term
a trade show
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
Copycat
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
Slotting fees
Definition
___________ are charges imposed by a retailer to stock a new item.
Term
Builds customer loyalty
Definition
Which of the following is true of sales promotions?
Term
product placement
Definition
The judges in the television show of American Idol have Coca Cola logoed cups on their table. This is an example of ______.
Term
Top-of-mind awareness
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
Personal selling
Definition
Which of the following is generally the most expensive form of communication?
Term
social media
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
affordable budgeting
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 interactive
Definition
Marketing through a retailer's website:
Term
can reduce their reliance on price promotions.
Definition
When retailer have high customer loyalty, they:
Term
Brand awareness
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 mix
Definition
A communication program:
Term
public relations
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
Communication objectives
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
Word of mouth
Definition
_____ is a communication among people about an entity such as a retailer or a product or service
Term
Event sponsorship
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
Employee compensation
Definition
The store management is responsible for controlling their costs. What is the largest expense that they need to manage?
Term
inventory theft
Definition
Term
recruiting and selecting applicants to work for the retailer
Definition
There are many responsibilities of store management. The first step in the management process that affects store employees’ productivity is _____.
Term
autocratic
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
Miscounting merchandise
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
Democratic leaders:
Term
an extrinsic reward
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
an extrinsic reward
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
a job description
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
A loiterer
Definition
_____ is likely to be a shoplifter.
Term
include recognition and benefits.
Definition
Extrinsic rewards:
Term
Group maintenance
Definition
_____ are the activities store managers undertake to make sure that employees are satisfied and work well together
Term
Compelling merchandise
Definition
Which of the following is most likely to be placed in the “strike zone”?
Term
atmospherics
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
decompression zone
Definition
The lowest sales per square foot area within the store is usually in the _____.
Term
gondola
Definition
A _____ is an island type of self-service counter with tiers of shelves, bins, or pegs.
Term
does not encourage unplanned purchases
Definition
A grid layout:
Term
It reduces payroll costs.
Definition
Which of the following is true of smaller format stores with respect to store size?
Term
Point-of-sale
Definition
_____ signs are placed near the merchandise they refer to so that customers know its price and other detailed information.
Term
racetrack
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
Grid
Definition
What form of layout is best suited for grocery stores?
Term
Price lining
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
tonnage display
Definition
“Stock it high and let it fly” is utilizing the _____.
Term
The target market’s shopping goals
Definition
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 bars
Definition
Providing _____ in stores is done to comply with the ADA.
Term
utilitarian benefits
Definition
Stores provide _____ when it enables customers to locate and purchase products in an efficient and timely manner with minimum hassle.
Term
communication
Definition
The _____ gap is the difference between the actual service provided to customers and the service that the retailer’s promotion program promises.
Term
empowerment
Definition
When employees have _____, they have the best ability to fully serve their customers.
Term
Assurance
Definition
_____ is the knowledge and courtesy of employees and their ability to convey trust and confidence.
Term
delivery
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 retailers
Definition
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
knowledge
Definition
The _____ gap reflects the difference between customers’ expectations and the retailer’s perception of those customer expectations.
Term
Empathy
Definition
_____ refers to the caring, individualized attention provided to customers.
Term
Procedural fairness
Definition
_____ is the perceived fairness of the process used to resolve complaints.
Term
standards
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
standards
Definition
The _____ gap pertains to the difference between the retailer’s knowledge of customers’ perceptions and expectations and the service standards it sets.
Term
Japan
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
personalized services
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?
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