Deca retail merchandising - Study guides, Class notes & Summaries

DECA Retail Merchandising Exam - Q & A Retailing process on how to get goods from the manufacturer to the consumer. What is the supply chain? Manufacturer - Wholesaler - retailer - consumer Market segment group of customers whose needs are satisfied by the same retail mix because they have similar needs Actionable retailer should know what to do to satisfy the needs of the customer Identifiable retailer can identify which customers are in the market segment Substantial if a market is too small...

DECA Buying and Merchandising Exam - Q & A Floor Ready Merchandise Negotiated agreement to packaging, folding, hanging, ticketing, merchandise, so that it is ready for the selling floor Control Measuring actual performance against goals and reacting to any deviations Anticipation Additional discount for paying invoice prior to cash discount period Initial Markup Markup added to the cost to establish the first retail price Cumulative Discount Discount that applies to orders placed over a period...

DECA Marketing cluster exam 2023 with complete solution Exclusive Distribution Situation where suppliers and distributors enter into an exclusive agreement that only allows the named distributor to sell a specific product. Electronic Data Interchange (EDI) Systems The electronic interchange of business information using a standardized format; a process which allows one company to send information to another company electronically rather than with paper. Trading Partners Business entities...

DECA Marketing cluster exam 2023 with complete solution Exclusive Distribution Situation where suppliers and distributors enter into an exclusive agreement that only allows the named distributor to sell a specific product. Electronic Data Interchange (EDI) Systems The electronic interchange of business information using a standardized format; a process which allows one company to send information to another company electronically rather than with paper. Trading Partners Business entities...

DECA principles latest 2023 100% pass Agent Intermediary that assists in the sale and/or promotion of goods and services but does not take title to them. Annual fee An amount of money charges on a yearly basis for the privilege of using certain kinds of credit (ex. American Express card) Annual percentage rate (APR) Tate of interest expressed as a yearly percentage Approach stage The beginning of a sale when the customer and salesperson first communicate; also called the "opening" or "atte...

DECA Marketing cluster exam with verified solutions 2023Exclusive Distribution Situation where suppliers and distributors enter into an exclusive agreement that only allows the named distributor to sell a specific product. Electronic Data Interchange (EDI) Systems The electronic interchange of business information using a standardized format; a process which allows one company to send information to another company electronically rather than with paper. Trading Partners Business...