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RMAR

ch14

QuestionAnswer
national brands (manufacturer's brands) products designed, produced, and marketed by a vendor and sold to many different retailers
private-label brands (store brands, house brands, own brands) products developed by retailers
premium brands offer the consumer a private label that is comparable to, or even superior to, a manufacturer's brand quality, sometimes w/ modest price savings
generic brands target a price-sensitive segment by offering a no-frills product at a discount price
copycat brands imitate the manufacturer's brand in appearance and packaging, generally are perceived as lower quality, and are offered at lower prices
exclusive co-brand brand that is developed by a national brand vendor, often in conjunction w/ a retailer, and is sold exclusively by the retailer
market weeks buyers make appointments to visit the various vendor showrooms
trade shows provide another opportunity for buyers to see the latest products and styles and interact w/ vendors
reverse auctions one buyer, the retailer, and many potential sellers, the manufacturing firms. Buyers provide a specification for what they want to a group of potential vendors
tariffs (duties) taxes placed by government on imports that increase the cost of merchandise imported from international sources
resident buying offices organizations located in major market centers that provide services to help retailers buy merchandise
retail exchanges providers of internet-based solutions and services for retailers
markdown money funds vendors give retailers to cover lost gross margin dollars due to the markdowns needed to sell unpopular merchandise
slotting allowances (slotting fees) charges imposed by a retailer to sock a new item
co-op advertising programs undertaken by a vendor in which the vendor agrees to pay for all or part of a pricing promotion
strategic relationship (partnering relationship) 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
trust a belief that a partner is honest and benevolent
resale price maintenance (RPM) requirement imposed by a vendor that a retailer cannot sell an item for less than a specific price-manufacturer's suggested retail price (MSRP)
free riding taking more than its fair share of the benefits but not incurring its fair share of the costs
commercial bribery occurs when a vendor or its agent offers or a buyer asks for "something of value" to influence purchase decisions
charge-back practice used by retailers in which they deduct money from the amount they owe a vendor
buybacks (stock lifts, lifts-outs) activities engaged in by vendors and retailers to get products into retail stores
counterfeit merchandise includes goods made and sold w/out the permission of the owner of trademark or copy-right
intellectual property intangible and created by intellectual effort as opposed to physical effort
trade-mark any mark, word, picture, device, or nonfunctional design associated w/ certain merchandise
copyright protects the original work of authors, painters, sculptors, musicians, and others who produce works of artistic or intellectualism
gray-market goods (parallel imports) refer to the flow of merchandise through distribution channels other than those authorized or intended by the manufacturer or producer
diverted merchandise similar to gray-market merchandise except there need not be distribution across international boundaries
exclusive dealing agreements occur when a vendor restricts to carrying only its products and nothing from competing vendors
typing contract exists when a vendor requires a retailer to take a product it doesn't necessarily desire to ensure that it can buy a product it does desire
Created by: danicita3387 on 2011-05-03



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