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Chapter 11 int.docx

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Ryerson University
FSN 132
Joanne Mc Neish

Chapter 11 Category Buying or Classification Buying: a practice whereby a chain store buyer located in a central buying office is usually assigned to purchase only a specific category or classification of merchandise instead of buying all categories carried in a single department. See also departmental buying Category Killer: superstores or category specialists who so dominate a market that they drive out or kill smaller specialty stores Chain Organization: a group of 12 or more centrally owned stores, each handling somewhat similar goods that are merchandised and controlled from a central headquarters office (as defined by the Bureau of the Census) Departmental Buying: a practice whereby a department buyer is responsible for buying all the various categories of merchandise carried in that department. See also category buying Department Store: as defined by the Bureau of the Census, a store that employs 25 or more people and sells general lines of merchandise in each of three categories: home furnishings, household linens and dry goods (an old trade term meaning piece goods and sewing notions), and apparel and accessories for the entire family Discount Store: a departmentalized retail store using many self-service techniques to sell its goods. It operates usually a low profit margin, has a minimum annual volume of $500 000, and is at least 10 000 square feet in size. Factory Outlet Store: manufacturer-owned stores that sell company products at reduced prices in austere surroundings with minimum services Franchise: a contracted agreement in which a firm or individual buys the exclusive right to condu
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