chapter 13 terms | TXMD 1170 - Introduction to the Fashion Industry, Quizzes of Production and Operations Management

Download chapter 13 terms | TXMD 1170 - Introduction to the Fashion Industry and more Quizzes Production and Operations Management in PDF only on Docsity! TERM 1 Retailing DEFINITION 1 Retailing is the link between the manufacturer and the consumer. TERM 2 Lifestyle centers DEFINITION 2 Sometimes dubbed "Lifestyle theme stores," they try to create an ambiance to attract customers. TERM 3 Fifth Avenue DEFINITION 3 Most of the world's top retail stores began in manufacturing and marketing centers. Certain city streets or areas have become famous for retailing. Fifth Avenue. TERM 4 Chain stores DEFINITION 4 -A successful single-unit store may open additional locations to grow into a mutiple-unit operation These range from small retail organizations with just a few loactions to national retail chains. -Chain stores are retail outlets that share a brand and central management, and usually have standardized business methods and practices. TERM 5 Department stores DEFINITION 5 The term department store comes from the practice of presenting many different kinds of merchandise, each in a separate department or specific selling space. TERM 6 Specialty stores DEFINITION 6 Specialty stores cater to a particular target customer by providing a narrow focus of merchandise. Most specialty retailers stock merchandise within a certain price range, as well as in a specific category. TERM 7 Deep-niche retailing DEFINITION 7 Now anchors might be a moderate department store such as Macy's, a discount store such as Target, or a mass merchant such as Sears, with a variety of specialty stores catering to various market niches. TERM 8 Flagship stores DEFINITION 8 Most flagship stores, the first or main store of a chain, have remained in the cities, and new ones have been added. TERM 9 Private-label retailers DEFINITION 9 Not to be confused with single-line stores, single-brand stores carry only merchandise sold under the store's name or private label. Private-label retailers maintain their own design departments or use the services of desgn studios. TERM 10 Off-price retailers DEFINITION 10 Some retailers specialize in selling merchandise at low prices by offering special buys, closeouts, overruns (manufacturers' overproduced merchandise), last season's goods, off-colors, and manufacturers' returns.