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An accounting method that enables a business to understand more clearly how and where it makes a profit. ABC identifies all major costs associated to relevant activities and then down to product level. |
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Definition
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All Commodity Volume
| Will be posting separate sheet with fiancial terms and calculations |
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Term
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Definition
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Range
| A selection of products that are chosen based on a number of attributes (including consumer need, retailer strategy) that maximizes efficiency and commercial return within a category or store. |
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Term
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Definition
| The physical distance (usually expressed in inches) between the back and front of the base shelf. |
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Term
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Definition
| The lowest shelf of a fixture |
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Term
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Definition
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Baseline Sales
| Those sales of a product that would have occurred had there been no promotional or marketing activity. |
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Term
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Definition
| The grouping of products together within a fixture to produce a clearer display and reduce consumer confusion. Products can be blocked either horizontally or vertically within a fixture. |
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Term
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Definition
| A group of products blocked by brand. Example placing all of Campbell's Condensed Soups together. |
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Term
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Definition
| Switching of sales within a brand. E.g. consumers buying 64oz Gatorade instead of 32oz. Gatorade. |
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Term
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Definition
| Defined as a measure of the expenditure on one brand as a proportion of expenditure by a household on all brands within a category or sub category. |
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Term
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Definition
| The number of products in a case. |
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Term
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Definition
| Products or services grouped together to reflect consumer usage or purchase occasion. For example ‘Household Cleaning’. |
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Term
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Definition
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Purchase Decision Hierarchy
| The order of priority in which shoppers make their purchasing decisions. The hierarchy is usually described like a family tree and details the various product attributes (such as price, flavor, size, brand etc.). |
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Term
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Definition
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Term
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Definition
| A group (consumers, stores, locations) that identifies "like" characteristics or similar attributes. Ranges can be targeted at cluster groups to better meet consumer needs. Stores can be clustered and managed depending on their catchment area. |
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Term
| Brand Switching Brand Cannibalisation |
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Definition
| Switching of sales from one brand to another usually as a result of a promotion E.g. consumers purchasing Coke and Switching to Pepsi |
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Term
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Definition
| Merchandising a group of products by the product color or packaging color |
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Term
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Definition
| The end user of a product. The consumer is not necessarily the same as the shopper, who is the person who buys the product or service. The term customer is often used (by retailers) when referring to the consumer. |
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Term
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Definition
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Consumer Sales
| The average daily sales of a product. |
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Term
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Definition
| The products that form the "must stock" range within a store or category. These products offer what is regarded as the "minimum" choice and usually include key brands. |
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Term
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Definition
| The display of a product in a different category to its usual location, due to an associated relationship (e.g. can openers within the canned food section). Cross merchandising assumes there is an element of lateral thinking and shopper logic to the purchase. |
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Term
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Definition
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Cube
| The literal shelf space that a three dimensional cube would occupy. |
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