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Definition
| merchandise purchase contract term; setting the invoice due date in the future |
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| merchandise purchase contract term; providing discount for paying the invoice early |
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| employee of manufacturing or retailing firm who commonly purchases designer name, brand name and or private brand goods to fill out his or her plans |
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| reduction in billed cost as incentive to pay the invoice on time |
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| CIF (cost insurance freight) |
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Definition
| shipping term ownership is transferred as soon as merchandise is shipped; billed cost includes merchandise cost, insurance, and freight |
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| payment term; no discounts are allowed and merchandise must be paid for in cash or by certified check when delivered |
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| determines when cash discounts can be taken and when an invoice is due to be paid |
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| the phase in product development that focuses on analysis, creativity, and the formation of product groups that are unique while reflecting the line concept |
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| merchandise purchase contract term; regarded as normal or ordinary dating for invoice payment |
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| FAS (free alongside the ship) |
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Definition
| Merchandise purchase contract term; the vendor to the transportation of goods to the dock, where ownership is transferred to the sourcing firm; all shipping cost are borne by the sourcing firm |
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| ownership is transfered when goods are loaded on a transporting vehicle, and the buyer bears the shipping cost |
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| joint product development |
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Definition
| retailers work with manufacturing merchandisers and designers to develop the line concept, establish line direction, and plan and develop products |
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Definition
| adaption of modification of a style from another firm's line; usually offered for sale at a lower price that the original |
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| late-selling period discount |
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Definition
| a price reduction offered from a manufacturer to a retailer that can be used to extend production and sales or clear finished goods still in stock |
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Definition
| determines what merchandise groups will be applied to the line plan what designs will become styles in the line, model stocks, gross margins, prices, and expected volume for each merchandise group |
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| the process of determining styles, fabrications, colors, and sizes to be offered for sale; applying real merchandise to the line plan |
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| suggested retail price used in manufacturer's / wholesalers catalogs and price sheets; an estimate of the value of the product to the ultimate consumer; the base for wholesale price structures |
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| a discount included in some purchase contracts that compensate retailers for price markdowns and discounts need to clear inventory |
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Definition
| tool used by large retailers to improve the effectiveness of their line development process; the merchandising group identifies its best and/ or most dominate suppliers and creates a list of preferred vendors for each merchandise classification |
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| pre-selling-period discount |
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Definition
| a discount offered to retail merchandisers by manufacturers when the merchandiser agrees to purchase merchandise early, ahead of the traditional buying period |
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| merchandise that has the retailers own name brand rather than that of a designers or manufacturers |
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| special arrangements in price made by the manufactures to promote sales |
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| purchase of finished goods |
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Definition
| acquisition of goods ready for use by a manufacturers or retailers buyer or by ultimate consumer |
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| reduction from list price related to efficiencies in the volume of purchase; incentive for the buyer to make larger or multiple purchases |
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| list price - seasonal and or quantity discounts |
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| a process in which manufacturers illegally control the retail price of their product AKA vertical price fixing |
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Definition
| reduction from list price retailing to time of purchase in a selling period; a manufacturer may offer pre-selling period, late selling period, and end of the selling period discount |
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Term
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Definition
| determines who bears transportation cost and when the buyer will take title/ownership of the merchandise - free on board (FOB) cost insurance freight (CIF) free along side shipping (FAS) |
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| stocking or introductory allowance |
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Definition
| discounts or promotions provided by manufacturers to persuade retail buyers to stock certain merchandise for the first time |
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Definition
| primarily post- adoption product development process required to perfect a design into a style producible at the quantity level desired by the target customer |
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Definition
| reduction from list price granted to a firm that performs some marketing discount or distribution function |
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| a sit where manufactures show lines to retail buyers |
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Term
| wholesale price structures |
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Definition
| based on list price, a scheme that determines the prices of the styles in the line at wholesale |
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