Jargon Session-1

Presented by:

BARCODES

Jargon-1

• Retailing:

– Commercial transaction in which a buyer intends

to consume the good or service through personal,

family, or household use.

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Example

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• Cost Leadership:

– Strategy used by businesses to primarily gain an

advantage over competitors by reducing operation

costs below that of others in the same industry.

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Example

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• Merchandising:

– Merchandising encompasses "planning involved in

marketing, the right merchandise or service at the

right place, at the right time, in the right quantities,

and at the right price”

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Example

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• Visual Merchandising:

– Store look and feel, display of product & price

communication.

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Example

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• Footfall:

– Consumer traffic into a store or area of a store.

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• Romancing the Customer:

– Create lasting business relationships.

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• Seducing the Senses:

– Using your environment to appeal to each of our

senses (what great retailers do best)

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• Loss Leader:

– Good or service advertised and sold at below cost

price. Its purpose is to bring in (lead) customers in

the retail store (usually a supermarket) on the

assumption that, once inside the store, the

customers will be stimulated to buy full priced

items as well.

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• Distribution Channel:– A path through which goods and services flow in one

direction (from vendor to the consumer), and the payments generated by them that flow in the opposite direction (from consumer to the vendor).

– A marketing channel can be as short as being direct from the vendor to the consumer or may include several interconnected intermediaries such as wholesalers, distributors, agents, retailers. Each intermediary receives the item at one pricing point and moves it to the next higher pricing point until it reaches the final buyer. Also called channel of distribution or marketing channel.

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• Vendor Managed Inventory:

– Inventory replenishment arrangement whereby the

supplier either monitors the customer's inventory

with own employees or receives stock information

from the customer. The vendor then refills the

stock automatically, without the customer initiating

purchase orders. See also collaborative planning,

forecasting, and replenishment (CPFR).

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Example

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• Hyper-Market:

– Store with a sales area in excess of 40,000 sq ft

(3,600 sq m)

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• Elevator Pitch:

– Very concise presentation of an idea covering all of

its critical aspects, and delivered within a few

seconds (the approximate duration of an elevator

ride).

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Thank You

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