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RMAR
ch14
| Question | Answer |
|---|---|
| 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
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