AESHM 275 Study Guide 2
AESHM 275 Study Guide 2 AESHM 275
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This 4 page Study Guide was uploaded by Clare Schubert on Monday January 25, 2016. The Study Guide belongs to AESHM 275 at Iowa State University taught by Amrut in Spring 2016. Since its upload, it has received 114 views. For similar materials see Retailing Management in General at Iowa State University.
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Date Created: 01/25/16
AESHM 275 Fall 2014 Chapter 7 Types of retail locations including but not limited to Freestanding sites CBD Main Street 0 Inner city Gentrified residential areas Convenience neighborhood and community shopping centers Strip centers Power centers 0 Shopping Malls Lifestyle centers Outlet centers Mixeduse development and themefestival centers Omnicenters Stores within a store popup stores Convenience shopping comparison shopping and specialty shopping Societal and legal considerations in selecting retail locations Zoning and building codes Retailer s target market and location Chapter 8 What is Metropolitan statistical area and why is it important What are the factors affecting the attractiveness of an area for locating stores What is Cannibalization Accessibility and traf c ow why are they important in evaluating site location What is principle of cumulative attraction What is a trade area What is a primary secondary and tertiary trading area What affects the size of the trade area What are the sources of information about the trade area Census Bureau and GIS What models are used for forecastingestimating potential sales for retail site location Huff gravity model regression analysis and analog approach What are different types of leases Percentage leases and xedrate leases What are terms of leases Chapter 9 Objectives of corporate human resource management What is employee productivity and employee turnover What is employee engagement What is downward performance spiral Organization of a single store retailer and a national retail chain Centralization of retail organizations vs decentralization What is employment marketingbranding Why do retailers engage in this activity How do retailers motivate employees Corporate cultureorganization culture What is empowerment How can retailers empower their employees Why is it important to the success of the retailer Why is diversity in the workplace important What are legal issues in human resource management Chapter 10 Supply chain management and possible members of a retailer s supply chain How does good supply chain management create a sustainable competitive advantage What is a stockout Flow of information and merchandise in supply chain Universal Product Code UPC What is a data warehouse Electronic data interchange EDI what is it used forin What does logistics entail What are the functions of a distribution center What is crossdocking What are Push and pull supply chains What is a Bullwhip effect What is collaborative planning forecasting and replenishment CPFR RFID what are the benefits Disadvantages Chapter 11 What is Customer Relationship Management CRM What is Customer loyalty Why is a customer database important Frequent shopperloyalty programs What do they do What are cookies What are Legal issues associated with CRM and policies concerning CRM What is Customer Lifetime Value CLV What is a market basket analysis What are Advantagesdisadvantages of frequent shopperloyalty programs What is 8020 rule and the customer pyramid What is l to l retailing Retail brand community and customer loyalty Chapter 12 What is merchandise management Merchandise Management the process by which a retailer attempts to offer the appropriate quantity of the right merchandise in the right place at the right time so that it can meet the company39s nancial group Be able to identify merchandise group department classi cation SKU Merchandise group highest classi cation level a group Within an organization managed by the senior vice presidents of merchandise and responsible for several departments Classi cation third level for categorizing merchandise and organizing merchandise management activities A group of items targetng the same customer type SKU stockkeeping unit smallest unit available for inventory control SKU usually means a particular brand size color and style What is merchandise category An assortment of items that customers see as substitutes for one another What is GMROI and Why is it important A nancial ratio that assess a buyer39s contribution to RCA is gross margin return on inventory investment Measures how many gross margin dollars are earned on every dollar of inventory investment made by buyer gross margin percentage X Sales to stock ratio gross margin net sales X net sales average inventory at cost gross margin average inventory at cost What is salestostock ratio Annual basis if sales to stock ratio for a three month season 23 the annual sales ratio will be four times that number What are the two types of merchandise planning systems Staple merchandise categories that are in continuous demand over an extended time period Fashion merchandise categories are in demand only for a relatively short period of time How to develop forecast for category sales Forecasting staple project past sales trends into the future while making adjustments for any anticipated factors such as promotions and weather Forecasting fashion buyers need to place orders and commit to buying speci c quantities between three to 6 months before merchandise will be delivered and made available for sales What is a focus group Small group of respondents interviewed by a moderator using a loosely structured format What is an assortment plan A set of SKUs that a retailer will offer in a merchandise category in each of its stores and its websites What is a model stock plan How are they developed Identify backup stock also called as buffer or safety stock What is cycle stock or base stock Inventory for which the level goes up and down due to the replenishment process Identify product availability What is lead time Why is it important in terms of fashiontrendy goods Amount of time between the recognition that an order needs to be placed and the point at which the merchandise arrives in store and ready for sale What is an order point What is merchandise budget plan What is Open to Buy OTB system How to analyze merchandise management performance What is a salethrough analysis
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