FM225 notes 2 - Classification, collection, key item, Professor Geib PDF

Preview

Summary

Classification, collection, key item, Professor Geib...

Description

Classification and collection - Collection: different types of merchandise Understanding classification differences across families of businesses (FOBS), departments and categories of merchandise - FOB: big categories of business What is a classification? - Grouping of related items within a given category of merchandise - Used to group and identify selling trends for the purpose or planning, budgeting and controlling stock assortments - Also used to merchandise a selling floor - Can be broken down to many different categories - Body type, fabrication, neckline, ect. - Classifications and how they are categorized differ based on the merchandise - To classify reason a merchandise was sold What is a sub-classification? - A more specific group of related merchandise within the classification - Retailers use subclasses to more closely define the selling trends of a garment - Always will be a part of the classification that it comes from - Every piece of merchandise is already color coded; we do not classify by color What is a collection business? - A business that is bought by a designer or vendor and may be merchandised in multiple classifications - Generally sportswear is bought by collection - Generally designer merchandise is bought by collection What a key item? - A style of merchandise within a classification or collection that is identified to be a big volume producer - Can be basic or fashion - Usually bought in multiple colors and a wide range of sizes...