Business of Retail Credentialing Review

aimed at specific customers to get them to take action (order a product online, visit a social media site, etc)

• Direct Marketing

• Personal Selling

• Advertising

• Sales Promotion

Rivalry between or among businesses that offer similar types of goods or services

• Direct Competition

• Omni-channel retailing

• Indirect competition

• Replacement competition

something striking an individual, such as a product falling off of the shelf

• Struck by injury

• Slip, trip and fall

• Struck against injury

• Negligence

the difference between revenue and all costs and expenses of the business

• Net Profit

• Gross Profit

• Gross Profit Percentage

• Expenses

interconnected system of approaches for meeting the goal of retailing to provide customers with merchandise they want.

• Retail Ecosystem

• PLU - price look up

• markup pricing

• Keystone pricing

the marketing of two or more products in a single package price.

• Bundle Pricing

• Prestige Pricing

• Discount Pricing

• Odd Pricing

Number of units within the total inventory that are available to sell

• Available or on-hand inventory

• Total Inventory

• Safety Stock

• EAS (Electronic Article Surveillance)

complete listing of all merchandise a retailer owns

• Total Inventory

• EAS (Electronic Article Surveillance )

• Available on-hand inventory

• Safety Stock

wearing an expensive item once for an event and then returning it for a full refund

• Wardrobing

• Return fraud

• Automated fraud

• Switch Fraud

uses a chip in a tag or label to store information, and information is transmitted from, or written to, the tag or label when the chip is exposed to the correct frequency of radio waves.

• RFID (radio frequency identification)

• Non-Electric Ink Tags

• PLU - price look up

• POS (Point of Sale)