Term
| What are the three steps in the buying process? |
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Definition
| Planning,buying and selling. |
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Term
| What is merchandise planning? |
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Definition
| Estimating the quantities and types of products that the buyer should purchase. |
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Term
| What are the resources for merchandise planning? |
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Definition
| Sales records, vendor information, market week previews. |
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Term
| Who do buyer from retail stores buy from? |
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Definition
| Wholesalers and manufacturers. |
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Term
| Why is the shipping date on an order important? |
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Definition
| If the product arrives too late it won't sell well. A buyer can cancel the order if it is not shipped on time. |
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Term
| What is the buyers role in selling the merchandise? |
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Definition
| They provide product information. |
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Term
| What is a department store? |
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Definition
| A store that carries a wide variety of items. |
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Term
| What is a specialty store? |
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Definition
| A store that carries only a few types of products. |
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Term
| What is a discount store? |
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Definition
| A store that offers limited service so it can sell at lower prices. Usually also carries cheaper kinds of products. |
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Term
| What is an off prices retailer or outlet store? |
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Definition
| A store that sells leftover merchandise at lower prices. |
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Term
| T.J. Maxx and Marshall's are what type of store? |
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Definition
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Term
| Macy's and Nordstrom's are what kind of store? |
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Definition
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Term
| Hot Topic and Pac Sun are what kind of stores? |
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Definition
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Term
| Target and Walmart are what kind of stores? |
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Definition
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