How do retailers and vendors ensure that the information that passes back and forth between retailers and vendors is secure?
The system ensures that the information received has not been tampered with by ensuring that the communication is both authentic and authorized
.
Which of the following statements is a reason why some vendors and retailers choose not to adopt RFID tagging?
Which of the following statements is a reason why some vendors and retailers chose not to adopt RFID tagging?
They believe the additional costs do not benefit the return on investment.
Which of the following is a vendor who forms an alliance with a retailer to help gain consumer insight satisfy customer needs and improve performance and profit across a category?
| the largest level in the buying organization is called: merchandise group | which of the following is a vendor who forms an alliance to help gain consumer insight, satisfy customer needs and improve performance and profit across a category category captain |
|---|
What is the first step in merchandise management planning?
(The first step in merchandise management planning is
to develop a forecast for category sales
. The approach for forecasting sales of staple merchandise is to project past sales trends into the future, while making adjustments for any anticipated factors, such as promotions and weather, that may affect future sales.)
Why are retailers considered the most important part of the supply chain?
Why are retailers considered the most important part of the supply chain?
They can best gauge customers' wants and needs
. … Every time a customer makes a purchase at a Target, data is transmitted to the buyers and the distribution center so the merchandise can be replenished and sent on the next truck delivery.
What is the outcome when a retailer sells counterfeit merchandise?
What is the outcome when a retailer sells counterfeit merchandise?
It can destroy the relationship with the vendor of the legitimate brand.
Which of the following 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.
Why are location decisions so important to retailers?
Location decisions are
critical to the ultimate success of the retail enterprise
. Good locations allow ready access, attract large numbers of customers and increase the potential sales of retail outlets… even slight differences in location can have significant effects on market share and profitability.
Which of the following is a function of a distribution center?
A distribution center (DC) is a node in a supply network which can be used for:
storing goods (short term or longer)
, processing products, de-aggregating vehicle loads, creating SKU assortments, assembling shipments, among other things.
What are the 4 types of merchandise?
Merchandising can be categorized according to different criteria, but the most common types are
product merchandising, retail merchandising, visual merchandising, digital marketing, and omnichannel merchandising
.
What are the 5 R's of merchandising?
The five rights include
providing the right merchandise, at the right place, at the right time, in the right quantities, and at the right price
.
What is required to develop a merchandise plan?
- Product. First and foremost, the basic component of any merchandise mix is the product. …
- Range. This refers to the variety of merchandise that you sell. …
- Price. …
- Assortment. …
- Space. …
- Perform a post-season analysis. …
- Forecast sales. …
- Plan and implement the assortment.
Why knock offs are bad?
Consumers often confuse these knock-off products with the real thing and
blame the poor quality on the real manufacturer's quality control
, damaging the reputation of the real maker. This can lead to a diminished impression of the maker in the marketplace and reduced sales.
Why should you not buy counterfeit products?
The production and trafficking of counterfeit goods poses a
significant health and safety threat to consumers
. It also impacts the economic growth of legitimate businesses and consumers through lost revenue, downtime, and replacement costs.
What are the dangers of buying and consuming counterfeit products?
The danger of fake goods includes
chemical burns, rashes and long-term health problems
. Cosmetics consumers do seem to be averse to buying fake cosmetics. Only 3% admitted to having knowingly purchased counterfeits, while 19.5% admitted to having purchased fakes accidentally.
