Merchandising : Theory, Principles, and Practice, 2nd Edition,9781563673535

Merchandising : Theory, Principles, and Practice, 2nd Edition

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Edition: 2nd
ISBN13: 9781563673535
ISBN10: 1563673533
Format: Hardcover
Pub. Date: 2005-05-31
Publisher(s): Bloomsbury USA Academic
List Price: $105.50

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Summary

This book focuses on the process of merchandising and the principles applied to the planning, development and presentation of product lines in both the manufacturing and retailing sectors. It also relates the role of merchandising to other business fundamentals. Vignettes describe alternative merchandising strategies. Applications to other consumer goods are also discussed.

Table of Contents

Preface xvii
SECTION ONE Merchandising Theory
1(110)
Merchandising Concepts
2(30)
Merchandising Processes
4(1)
Learning Activity 1.1
5(1)
Definitions of Merchandising
5(1)
Case 1.1 Making a wholesale business click
6(2)
Merchandising as a Business Function
8(2)
Theoretical Foundations
8(1)
Fundamental Constructs from Behavioral Theories of the Firm
9(1)
Learning Activity 1.2
10(1)
Behavioral Theory of the Apparel Firm
10(2)
Relationships of Internal Constituencies of the Apparel Firm
11(1)
External Coalitions and Environments
12(1)
Learning Activity 1.3
12(6)
The Marketing Concept as a Philosophy of the Firm
12(2)
Constituencies of the Firm
14(4)
Learning Activity 1.4
18(2)
The Decision-Making Matrix According to Behavioral Theory of the Apparel Firm
18(2)
Case 1.2 Nike laces up Converse deal
20(4)
Learning Activity 1.5
24(2)
Case 1.3 What will it take to get Sears back on track?
26(2)
Summary of Relationships Among a Firm's Internal Constituencies
27(1)
Fundamental Assumptions of Behavioral Theory of Apparel Firm
28(1)
Summary
28(1)
Key Concepts
29(1)
Recommended Resources
29(1)
References
30(2)
Merchandising Technology
32(44)
Overview of Merchandising Technology
33(3)
Concept of Merchandising Technology
35(1)
Learning Activity 2.1
36(1)
Quick Response Business Systems
36(3)
Fundamentals of Quick Response
37(2)
Case 2.1 Wal-Mart will direct top 100 suppliers to use RFID by 2005
39(1)
Learning Activity 2.2
40(4)
Merchandising Issues
43(1)
Case 2.2 Danskin introduces electronic B2B ordering with 7thOnline
44(1)
Learning Activity 2.3
45(1)
Theoretical Foundations of Technology Innovation
45(4)
Theories of the Firm and Theories of Management Style
46(1)
Organizational Learning
46(2)
Theory of Diffusion of Innovations
48(1)
Summary of Concepts of Quick Response and Technology Innovation
48(1)
Case 2.3 A failure of merchandising technology innovation
49(3)
Learning Activity 2.4
52(1)
Decision Making in a QR Universe
53(3)
Merchandising in a QR Universe
54(2)
Learning Activity 2.5
56(4)
Sources and Capabilities of Merchandising Technology
56(3)
Overview of Potential Outcomes of QR
59(1)
Merchandising Technology Theory
60(1)
Summary
61(1)
Key Concepts
61(1)
Integrated Learning Activity 2.6.1
62(1)
Integrated Learning Activity 2.6.2
63(7)
Integrated Learning Activity 2.6.3
70(3)
References
73(3)
Merchandising Systems
76(35)
Business-to-Business Relationships---Wholesaling
77(1)
Business to Ultimate Consumer Transactions---Retailing
78(3)
Case 3.1 Retailers reap rewards of selling goods online
81(1)
Learning Activity 3.1
82(6)
Merchandising in Multi-Channel Environments
83(1)
Taxonomy of Apparel Merchandising Systems
84(4)
Learning Activity 3.2
88(4)
Learning Activity 3.3
92(1)
Context of Merchandising
92(5)
Income Statements
92(3)
Relationships of Income Measurements, Income Modifications, and Associated Ratios
95(2)
Learning Activity 3.4
97(1)
Income Statements for Mike's Bikes
98(1)
Company Profile 3.1 Mike's Bikes, Part 1, Financial Position
98(3)
Learning Activity 3.5
101(1)
Case 3.3 Nordstrom unveils plan for revamping
102(1)
Benchmarks of a Firm's Success
103(1)
Learning Activity 3.6
103(1)
Summary
103(3)
Key Concepts
106(1)
Integrated Learning Activity 3.7.1
107(1)
Integrated Learning Activity 3.7.2
108(1)
Recommended Resources
109(1)
References
109(2)
SECTION TWO Merchandise Planning
111(202)
Fundamentals of Merchandise Planning
112(52)
Traditional Line Planning
113(2)
Phases of Traditional Line Planning
114(1)
Contemporary Line Planning
115(4)
Contemporary Integrated Planning
117(1)
Phases of Contemporary Line Plans
118(1)
Learning Activity 4.1
119(1)
Case 4.1 Federated to supply goods for Bon-Ton
119(2)
Learning Activity 4.2
121(1)
Dimensions of Planning Product Lines
121(3)
Pricing Dimensions
121(1)
Assortment Dimensions
122(2)
Company Profile 4.1 Mike's Bikes, Part 2, Merchandise Mix
124(2)
Learning Activity 4.3
126(3)
Learning Activity 4.4
129(8)
Styling--Dimensions of Product Change
129(5)
Assessment of Product Change and Length of Selling Periods
134(3)
Learning Activity 4.5
137(6)
Timing--Merchandising Calendars
137(6)
Learning Activity 4.6
143(1)
Forecast-Based Merchandise Plans
143(3)
Regional and Local Economic and Cultural Influences
144(1)
During-the-Period Trend Analysis
145(1)
End-of-Period Trend Analysis
145(1)
Case 4.2 Merchandise planning with Accurate Response
146(4)
Learning Activity 4.7
150(2)
Category Management
151(1)
Case 4.3 Applying category management to SKU intensive, low turn merchandise
152(1)
Learning Activity 4.8
153(1)
Summary
154(1)
Key Concepts
155(1)
Integrated Learning Activity 4.9.1
156(1)
Integrated Learning Activity 4.9.2
156(3)
Integrated Learning Activity 4.9.3
159(1)
Case 4.4 Second-hand items, first-rate bargains
159(2)
Recommended Resources
161(1)
References
162(2)
Merchandising Perspectives on Pricing
164(50)
Pricing Relationships in the Trade Matrix
166(1)
Control of Price
167(1)
Case 5.1 States settle CD price-fixing case
167(1)
Learning Activity 5.1
168(1)
A Language of Price
169(1)
Learning Activity 5.2
169(6)
Perceptions of Price
173(2)
Learning Activity 5.3
175(1)
Company Profile 5.1 Mike's Bikes, Part 3, Pricing Policy
175(1)
Learning Activity 5.4
176(1)
Pricing Mechanics
176(4)
Retail Pricing Policies
178(2)
First Price
180(1)
Learning Activity 5.5
180(5)
Markups
180(2)
Markdowns
182(1)
Pricing in Relation to the Merchandising Calendar
183(2)
Learning Activity 5.6
185(1)
Strategic Pricing
186(4)
Strategic Pricing Fundamentals
187(3)
Case 5.2 Slowdown in retail sales creates overstock glut
190(2)
Learning Activity 5.7
192(6)
Components of Pricing Strategies
193(5)
Learning Activity 5.8
198(5)
Types of Pricing Strategies
198(5)
Learning Activity 5.9
203(4)
Understanding the Pricing Game/Application of Pricing Mechanics to Pricing Strategies
203(4)
Learning Activity 5.10
207(1)
Summary
207(1)
Key Concepts
208(1)
Integrated Learning Activity 5.11.1
209(1)
Integrated Learning Activity 5.11.2
210(2)
Recommended Resources
212(1)
References
212(2)
Planning and Controlling Merchandise Budgets
214(52)
Components of Merchandise Budgets
215(2)
Learning Activity 6.1
217(3)
Mechanics of Merchandise Budgets
220(1)
Company Profile 6.1 Mike's Bikes, Part 4, Merchandise Budgets
221(5)
Planning Sales
222(4)
Learning Activity 6.2
226(1)
Planned Sales for Selling Periods, Months, Weeks, or Days
226(1)
Learning Activity 6.3
227(5)
Planning Sales Based on Space Productivity
229(3)
Learning Activity 6.4
232(3)
Planning Reductions
232(3)
Learning Activity 6.5
235(2)
Planning Merchandise to Receive
235(2)
Learning Activity 6.6
237(3)
Planning First Price, Allowable Cost, and Number of Units to Receive
237(3)
Learning Activity 6.7
240(10)
Developing an Expanded Merchandise Budget
241(1)
Planning Inventory and Purchases During the Selling Period
241(9)
Learning Activity 6.8
250(5)
Planning Purchases, Merchandise On Order, and Open-to-Buy
250(4)
Planning Initial Markup
254(1)
Learning Activity 6.9
255(1)
Summary
256(1)
Key Concepts
256(1)
Integrated Learning Activity 6.10.1
257(1)
Integrated Learning Activity 6.10.2
258(2)
Integrated Learning Activity 6.10.3
260(1)
Case 6.1 Manage that inventory!
261(4)
Recommended Resources
265(1)
References
265(1)
Planning and Controlling Merchandise Assortments
266(47)
In-Store Shopping Behavior
268(4)
Situational Factors
269(3)
Learning Activity 7.1
272(1)
Case 7.1 Wal-Mart eyes BMW crowd
273(5)
Shopper's Intentions
274(1)
Stock Situations
275(1)
Purchase Decisions
275(2)
Implications for Merchandising Strategy
277(1)
Learning Activity 7.2
278(1)
Language of Assortment Planning
278(3)
Traditional Dimensions of Assortments
279(2)
Learning Activity 7.3
281(1)
Company Profile 7.1 Mike's Bikes, Part 5, Merchandise Assortments
281(4)
Measurable Assortment Dimensions
283(2)
Learning Activity 7.4
285(1)
Case 7.2 Famous Footwear is winning the battle of widths
286(3)
Integration of Assortment Dimensions into Assortment Plans
287(2)
Learning Activity 7.5
289(3)
Learning Activity 7.6
292(2)
The Concept of Assortment Diversity
294(4)
The Relationship of VSA to Financial Productivity
296(2)
Learning Activity 7.7
298(4)
Learning Activity 7.8
302(1)
Integrated Merchandise Plans
303(1)
Summary
303(2)
Key Concepts
305(1)
Integrated Learning Activity 7.9.1
305(1)
Integrated Learning Activity 7.9.2
306(2)
Integrated Learning Activity 7.9.3
308(1)
Case 7.3 Tommy Jeans makes major line changes
308(2)
Recommended Resources
310(1)
References
310(3)
SECTION THREE Developing and Presenting Product Lines
313(156)
Developing Product Lines
314(34)
Fundamental Methods of Line Development
315(5)
Purchase of Finished Goods
316(4)
Case 8.1 To sell goods to Wal-Mart, get on the net
320(1)
Learning Activity 8.1
321(2)
Product Development as a Means of Line Development
321(2)
Learning Activity 8.2
323(4)
Case 8.2 Target-Mossimo sales generate $700M---and designer copies
327(1)
Learning Activity 8.3
328(2)
Learning Activity 8.4
330(1)
Negotiating with Vendors
330(7)
Manufacturer's Wholesale Price and Cost Structures
332(5)
Learning Activity 8.5
337(1)
Case 8.3 Negotiating with Your Vendors
338(4)
Summary
342(1)
Key Concepts
343(1)
Integrated Learning Activity 8.6.1
343(1)
Integrated Learning Activity 8.6.2
344(1)
Case 8.4 Solving the special-size puzzle
344(2)
Recommended Resources
346(1)
References
346(2)
Presenting Product Lines
348(42)
Concepts of Merchandise Presentation
349(2)
Offering Merchandise for Consideration
350(1)
Case 9.1 Lifting store sales: Value-added gives a leg up to U.S. hosiery sector
351(2)
Learning Activity 9.1
353(1)
Case 9.2 The art of store layout: Enhancing retail presentation
354(2)
Learning Activity 9.2
356(1)
Case 9.3 Fashion first when it comes to space in Midwest
357(2)
Learning Activity 9.3
359(1)
Merchandise Replenishment
359(7)
Merchandise Replenishment Model
360(6)
Case 9.4 Nike's LeBron James sneaker makes rapid strides in sales
366(1)
Learning Activity 9.4
366(4)
Merchandise Replenishment in Relation to BTAF
367(1)
Merchandise Replenishment Technology
367(3)
Multiple Delivery Strategies in Relation to Merchandise Planning
370(7)
The Value of Product Velocity
373(2)
Product Velocity at Mike's Bikes
375(2)
Case 9.5 The Bermuda Triangle of profits
377(1)
Learning Activity 9.5
378(1)
Developing Merchandise Delivery Plans
379(4)
Learning Activity 9.6
383(1)
Summary
383(1)
Key Concepts
384(1)
Integrated Learning Activity 9.7.1
384(1)
Integrated Learning Activity 9.7.2
385(1)
Integrated Learning Activity 9.7.3
385(1)
Case 9.6 Flexsteel finds niches in embattled industry
386(1)
Recommended Resources
387(1)
References
388(2)
Global Sourcing
390(46)
The Concept of Globalization
391(3)
Regulation of Trade
392(2)
Learning Activity 10.1
394(1)
Case 10.1 Wal-Mart puts on pajamas, lies down in king-size mess
395(4)
The Americas
396(3)
Case 10.2 U.S. firms a force in Canadian apparel market
399(1)
Learning Activity 10.2
400(1)
Case 10.3 U.S. firms exporting to Europe
401(4)
Europe
402(3)
Case 10.4 U.S. government ends ``Banana War'' with European Union
405(1)
Case 10.5 Textiles and apparel in the United Kingdom
406(1)
Learning Activity 10.3
407(2)
Asia
407(2)
Case 10.6 For Chinese retailers, entry into WTO is not risk-free
409(2)
Learning Activity 10.4
411(1)
Globalization of Apparel Sourcing
411(5)
Learning Activity 10.5
416(1)
The Sourcing Process
417(2)
Full Package Sourcing
417(1)
Cut, Make, Trim (CMT)
418(1)
Learning Activity 10.6
419(7)
Sourcing Decisions
420(4)
Labor Availability and Cost
424(2)
Case 10.7 Kids trade sweatshops for school
426(2)
Case 10.8 Who's making the clothes?
428(1)
Learning Activity 10.7
429(1)
Summary
430(1)
Key Concepts
430(1)
Integrated Learning Activity 10.8.1
431(1)
Case 10.9 Time is money
431(2)
Recommended Resources
433(1)
References
434(2)
Customer/Vendor Relationships
436(33)
The Concept of Customer Service
437(5)
Levels of Customer Service
438(4)
Role of Personal Selling Services
442(1)
Case 11.1 Keys to customer service at Nordstrom
443(1)
Learning Activity 11.1
444(1)
Why Customers Buy
445(1)
The Personal Selling Process
446(12)
Prospecting
447(2)
Greeting and Approaching Customers
449(1)
Determining Customers' Needs and Wants
450(1)
Presenting the Merchandise/Providing Selection Assistance
451(1)
Handling Objections
452(2)
Closing the Sale
454(1)
Enlarging the Sale
455(1)
Follow-Up
456(2)
Learning Activity 11.2
458(1)
Case 11.2 The art of haggling
458(2)
Learning Activity 11.3
460(1)
Improving Customer/Vendor Relationships
460(3)
Case 11.4 Partnering, finally more than a buzzword
463(1)
Summary
464(1)
Key Concepts
465(1)
Integrated Learning Activity 11.4.1
465(1)
Recommended Resources
466(1)
References
466(3)
SECTION FOUR Career Opportunities
469(37)
Merchandising-Related Career Development
470(36)
The Concept of Career Development
471(3)
Learning Activity 12.1
474(2)
Career Development in Relation to the Firm
474(2)
Learning Activity 12.2
476(1)
Merchandising-Related Careers
476(1)
Case 12.1 E-talent: A tangled search process
477(10)
Taxonomy of Merchandising Careers
478(9)
Learning Activity 12.3
487(1)
Career Advancement
487(5)
Management Development
489(2)
Computers and the Merchandising Environment
491(1)
Case 12.2 Ashford.com names Cheryl Holland vice president of merchandising
492(3)
Keys to Career Advancement
493(2)
Learning Activity 12.4
495(1)
Selecting an Employer
495(4)
Environments for Merchandising-Related Careers
495(4)
Case 12.3 The making of Under Armour
499(1)
Learning Activity 12.5
500(3)
Recruiting for Merchandising Positions
501(2)
Summary
503(1)
Key Concepts
504(1)
Integrated Learning Activity 12.6.1
504(1)
Case 12.4 L.L.Bean streamlines hiring process
504(2)
Integrated Learning Activity 12.6.2
506(1)
Recommended Resources
506(1)
References
506

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