RMG 200 Study Guide - Final Guide: Organizational Culture, Affinity Analysis, Financial Ratio
Document Summary
Markup$ on all goods on hand/ retail$ on all goods on hand. Order point( point at which inventory available should not go below or else we will run out of stock b4 next order arives. Trickle-down theory: suggest that fashion leaders are consumers with the highest social status- wealthy, well-educated consumers. After they adopt a fashion the fashion trickles down to consumers in lower social classes. When the fashion is accepted by the lower social class, it is no longer acceptable to the fashion leaders in the highest social class. Knock offs: a copy of the latest styles that are sold at lower prices though retailers targeting a broader market. Mass-market theory: suggest that fashions spread across social classes. Each social class has its own fashion leaders who play a key role in their own social networks. Buzz: genuine, street-level excitement about a hot new product. Hype: artificially generated word of mouth, manufactured by public relations people.
