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19 Cards in this Set
- Front
- Back
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ABC Analysis
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an analysis that rank-orders SKUs by some profitability measure to determine which items should never be out-of-stock, which items should be allowed to be out-of- stock occasionally, and which items should be deleted from the stock selection.
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Abilities
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the aptitude and skills of an employee
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Accessibility
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the degree to which customers can easily get into and out of a shopping center
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Accordion Theory
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A cyclical theory of retailer evolution cycles suggesting that changes in retail institutions are explained in terms of depth versus breadth of assortment. Retail institutions cycle from high depth/low breadth to being low depth/high breadth stores, and back again
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Accounts Payable
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amount of money owed to vendors, primarily for merchandise inventory
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Accounts Receivable
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amount of money due to the retailer from selling merchandise on credit
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Accrued Liabilities
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liabilities that accumulate daily, but are only paid at the end of a period
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Acquisition
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growth strategy in which one firm acquires another firm usually resulting in a merger. (See also, leveraged buyout)
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Actual Selling Cost
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Relationship (expressed as a percentage) of salary to net sales; determined by dividing net sales into gross salary for any respective period.
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Addition Markup
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an increase in retail price after and in addition to original markup
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Additionally Markup Cancellation
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the percentage by which the retail price is lowered after a markup is taken
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Additional Markup Percentage
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the addition of a further markup to the original markup as a percent of net sales
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Advertising
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Paid communications delivered to customers through nonpersonal mass media vehicles such as newspapers, television, radio, and direct mail
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Advertising Frequency
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the number of times the typical potential customer is exposed to an ad.
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Advertising Manager
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a retail manager that manages advertising activities such determining the advertising budget, allocating the budget, developing ads, selecting media, and monitoring effectiveness.
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Advertising Reach
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the percent of customers in the target market exposed at least once to an ad.
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Affordable Promotional Budgeting
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budgeting method by which a retailer first sets a budget from every element of the retail mix except promotion and then funds the left over to a promotional budget.
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Allowances
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deductions from the sale price to a customer in lieu of returning unsatisfactory merchandise.
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Alteration Costs
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expenses incurred to change the appearance or fit, assemble, or repair merchandise.
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