Retail Glossary 'P Q'

Ad Slick, Atmosphere, ambiance, Acid-Test Ratio, Anchor Store, Brand Awareness, Blue Law, Break-Even Point, Bill of Lading, Brick and Mortar stores, Big Box Stores

Operating Expenses

The sum of all expenses associated with the normal course of running a business.

Odd-Even Pricing

A form of psychological pricing that suggests buyers are more sensitive to certain ending digits.

Odd pricing refers to a price ending in 1,3,5,7,9 just under a round number (e.g., Rs. 99, Rs. 199, $312.95,$ 2.95). Even pricing refers to a price ending
in a whole number or in tenths (e.g., Rs. 50, $6.10, $55.00).

Open-to-Buy

Merchandise budgeted for purchase during a certain time period that has not yet been ordered

Planogram

Visual description, diagram or drawing of a store's layout to include placement of particular products and product categories

Profit Margin

A ratio of profitability calculated as earnings divided by revenues.

Profit margin (in %) = (Profit/sales)*100

Product Life Cycle

The stages that a new product is belived to go through from the beginning to the end: Introduction, Growth, Maturity and Decline.

Private Label

Products which are generally manufactured or provided by one company under another company's brand or retailer itself. For, example we see many low prices garments in retails store, which are not available any where else.

POS

Point of Sale (POS) refers to the area of a store where customers can pay for their purchases. The term is normally used to describe systems that record financial transactions. This could be an electric cash register or an integrated computer system which records the data that comprises a business transaction for the sale of goods or services

Product Depth

Product depth is the number of each item or particular style of a product on the shelves. Product depth is also known as product assortment or merchandise depth.

Product Breadth

The product breadth is the variety of product lines offered by a retailer.

Purchase Order

A purchase order (PO)is a written sales contract between buyer and seller detailing the exact merchandise or services to be rendered from a single vendor.

Point-of-Purchase Display

Point-of-purchase displays, or POP displays, are marketing materials or advertising placed next to the merchandise it is promoting. These items are generally located at the checkout area or other location where the purchase decision is made. For example, The checkout counters of many convenience stores are cluttered with cigarette and candy POP displays.

Quantity Discount

A reduction in price based on the amount purchased. May be offered in addition to any trade discount. Also referred as volume discount. For example, for purchase above Rs. 10,000 supplier may offer 4% discount etc.

You may click here :

A    B     C     D    E    F    G     H     I     J     K     L    M    N    O    P     Q    R    S    T     U     V     W     X     Y     Z

Post new comment