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FM Unit 5 Products
Unit 5 Product Mix & Marketing Research
| Term | Definition |
|---|---|
| product planning | the decisions related to determining which products and services to offer and sell in order to make a profit and satisfy customer |
| hardlines | are non-textile items. Major appliances, tools, etc. |
| product line | a group of related products sold by a company or business - brand - NIKE |
| product item | an individual product from a product line - NIKE running shoes |
| product assortment | a term used in retail to mean the variety of different products sold in a retail establishment - similar to the product mix. (full, limited, or specialty) |
| softlines | are products made from textiles - apparel, household textiles, sleeping bags, stuffed animals, etc |
| substitute goods | can be used in place of each other. scarf instead of a hat |
| merchandise classifications | the different categories that apparell is divided into: women's, men's, infants and children's, etc. |
| women's apparel | largest most important segment of retail merchandise 60% of all apparel sales. Based on size and apparel classification |
| furnishings | Men's apparel such as: dress shirts, neck wear, underwear, hats, socks, sleepwear, robes and belts |
| infants and children's apparel | often based upon age |
| accessories | articles added to complete or enhance outfits, secondary items used to dress up or set off garments |
| cosmetics | products to be applied to the face, skin, or hair to improve appearance - make up |
| toiletries | are personal care products used in grooming, toothpaste, shampoos, and deodorants |
| fragrances | products that add a pleasant scent - perfume, cologne and scented bath products |
| brand line representatives | hired only to sell that brand are specially trained and uniformly dressed. Usually for specialities such as: cosmetics, fragrances or jewelry |
| marketing research | the process of gathering, analyzing, and report information or data related to marketing goods and services |
| survey | questionnaires sent by email, mail, telephone, the internet, or stopping people in malls |
| product research | types of products and how they work, packaging, etc. |
| attitude and opinion research | customer feelings and opinions about the store, its products and services. |
| point of sale research | can be done at the point of check out to see what customer purchased, how experience was, etc - can be formal or informal, can also be done using data from database |
| database marketing | also called customer relationship management (CRM) is a process of designing, creating, and managing customer lists. Examples - rewards or loyalty programs - used to track purchases and buyer behavior |
| bar code | are product codes with dark bars and white spaces of varying width used on merchandise for electronic data collection |
| costume jewelry | "fashion jewelry" that is inexpensive, often of plated metals and artificial stones |
| dual sizing | a combination of two size dimensions, such as neck plus sleeve length combinations (men's shirts) or waist plus inseam combinations (men's slacks, jeans) |
Created by:
janice ritchey
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