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Definition
| The look and appeal that contributes to the identity and saleability of the line |
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| The process of determining the styles, fabrications, colors, and sizes to be offered for sale; applying real merchandise to the line plan |
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| Requires assessment of the present, analysis of the past, and projection for future, while line plans are based on and integrated with the overall business and marketing plans, as well as information provided by the operations and finance constituencies |
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| Involves evaluating the line in order to make it visible and salable. The power of appeal, also known as hanger or shelf appeal, attracts attention and causes retail buyers and ultimate consumers to stop, take a longer look, and ultimately purchase. Successful merchandise groups have hanger and shelf appeal for retailers buyers and target customers |
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| Is the presentation of the planned and adopted line to the sales force. The purpose is to communicate the line concept and help sales representative to effectively sell the line the way it was conceived |
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| Marks the beginning of promotions for the new selling period. EX: can be done in fashion shows attended by fashion press or by sales force with samples |
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| Planned sales, dollar investment, and open-to-buy by merchandise category or classification; the financial framework of a merchandise plan |
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| Merchandising and Operating Ratios |
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Definition
| Associated with measures of income and income modifications. Commonly states as a percentage of net sales |
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| One-year Period from the first week of February to the last week of January |
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| Is the figure on which the firm pays income tax |
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| Is actual revenue from the sale of goods and services (gross sales less customer returns and allowances) |
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| Is what remains after all financial obligations related to operating the business are met (adjusted gross margin less overhead and operating expenses) |
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| Other Income &/or Expenses |
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| Are additional revenue or costs related to operating the firm other than from selling goods and services |
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Definition
| Are ordering and shipping cost associated with acquiring merchandise |
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| The design and engineering of products to be serviceable, producible, salable, and profitable |
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Definition
Consists of a combination of styles that:
Satisfy similar or related customer needs
are sold within the targeted price range
are marketed with similar strategies |
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Definition
Is an essential component of business operation in a capitalistic system.
Can be stated as: gross profit, operating profit, net profit, dollar or percentage profit, or before- and after- tax profit |
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Definition
| The process of selling a product line to ultimate consumers through a variety of avenues including retail stores, internet sites, and or television home shopping programs |
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| Individuals representing a company or product line to retailers and ultimate consumers |
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| Is the time a particular group of merchandise is planned to be available for sale. Traditionally called selling season |
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| Taxonomy of Apparel Merchandising Systems (TAMS) |
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Definition
| Was deleloped as a comprehensive system that describes the elements of merchandising- an extended definition of merchandising within the context of the BTAF. Describes planning, developing, and presenting product lines as merchandisers interact and collaborate with the firm's internal constituencies and with outside coalition, particularly vendors and customers |
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Definition
| Is the key component of post-adoption product development. The process includes perfecting styling and fit, finalizing patterns, testing materials and assembly methods, developing styles and quantity specifications, developing detailed cost, and grading patterns |
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| Wholesales Line Presentation |
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Definition
| 2 aspects include line preview and like release. |
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Definition
| A site where manufactures show lines to retail buyers |
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| Forecasting Merchandise Offerings |
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Definition
| Requires evaluation of past selling periods, usually with detailed analysis of the same selling period the previous year, as well as examination of the current selling period for any relevant trends |
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| Evaluating Merchandise Mix |
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Definition
| Requires objective analysis of financial productivity of merchandise by category, classification, sub-classification, and group. Classification analysis results in new priorities for weeks of sale, prices points, size ranges, and size standards |
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Definition
| Commonly called gross margin, is closely associated with merchandising responsibilities |
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Definition
| Is a summary of a firm's revenue and expenses for a defined period of time- prepared monthly, quarterly, and or annually. Frequently assessing revenue and profitability allows a firm to update plans, modify strategies in a timely way, and be productive rather than reactive in the business environment. Primary purpose is to demonstrate whether or not the firm has made a profit for the period |
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| Internal Line-Adoption Presentations |
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Definition
| Is to develop consensus and support for the proposed additions of specific products to the line plan |
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Definition
| May be one of the most stressful periods for designers and merchandisers- occurs during a series of daylong meeting involving elaborate pretensions of line concept, group concept with storyboards, and design samples, design specifications fit analysis, and cost estimates |
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