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16 Cards in this Set
- Front
- Back
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Opportunistic Buying |
Negotiates low prices for merchandise who's sales have not met expectations |
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Quick response inventory planning |
It is aimed mainly at reducing order response time, and achieving greater accuracy in shipping the correct goods in correct quantities, by employing computerized equipment such as barcodes and EDI to speed up flow of information. |
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Cost Oriented Pricing |
all pricing is base off of acquisition cost |
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Consignment Inventory |
The retailer accepts goods onconsignment and does not own the items. The supplier is paid after merchandiseis sold. |
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Price Elasticity of Demand |
The change in demand due to change in prices |
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Horizontal Price Fixing |
agreement among competitors to restrain price competition in some way. |
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Chargeback |
demand by a credit-card provider for a retailer to make good the loss on a fraudulent or disputed transaction |
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Logistics System |
part of supply chain management that plans, implements, and controls the efficient, effective forward, and reverse flow and storage of goods, between the point of origin and the point of consumption. |
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Floor Ready Merchandise |
Products shipped by a supplier having all needed tags, prices, security devices, and so on already in place |
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Inventory Shrinkage |
the loss of products between point of manufacture or purchase from supplier and point of sale. |
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Electronic Data Interchange |
a process which allows one company to send information to another company electronically rather than with paper. |
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Robinson Patman Act |
United States federal law that prohibits anticompetitive practices by producers, specifically price discrimination. |
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Minimum Price Laws |
price floors and are most commonly associated with minimum wages in the labour market or guaranteed price support schemes for farmers or other producers |
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Bait and Switch Advertising |
A dishonest marketing tactic in which a marketer advertises a very attractive price/rate/term that is really a teaser rate meant to attract customers. |
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Loss Leader |
product sold at a loss to attract customers. |
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One Price Policy |
prices are set and cannot be negotiated by customers. |
