RMG 200 Chapter Notes - Chapter 10: Liquid Oxygen, Baby Boomers, Inventory Turnover

• School: Ryerson University
• Department: Retail Management
• Course: RMG 200
• Professor: Brent Bar

Document Summary

Merchandise management - the process by which a retailer attempts to offer the right quantity of the right merchandise in the right place at the right time while meeting the company"s financial goal. A group within an organization managed by the senior vice presidents of merchandise and responsible for several departments. A segment of a store with merchandise that represents a group of classifications the consumer views as being complementary. A group of items or skus for the same type of merchandise, such as pants (as opposed to jackets or suits), supplied by different vendors. Merchandise category - an assortment of items (skus) the customer sees as reasonable substitutes for each other. The process of managing a retail business with the objective of maximizing the sales and profits of a category. A supplier that forms an alliance with a retailer to help gain consumer insight, satisfy consumer needs, and improve the performance and profit potential across the entire category.