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    F. ashion Business Glossary Accessories All articles ranging from hosiery to shoes, bags, gloves, belts, scarfs, jewelry, and hrs, or example, worn to complete or enhance an outfit of apparel Accessorizing The process of adding accessory items to apparel for display, for models in fashion shows, or for customers clothes on request Accounts Payable The financial obligations owed by company to its suppliers. Accounts Receivable The financial obligations owed ‘toa company by its customers. Acquisition A company purchased (acquired) by an- other firm. ‘Ad Valorem Tariff An import raxcas « percentage of the price ofthe product. Adaptation A design that reflects the outstanding features of another design but is not an exact copy. Advance Ship Notices (electronic bills of lading) ‘are sent electronically to the retailer wien the ‘supplier ships the merchandise. This aleres the reiailer that the merchandise will soon arrive, to be distributed among multiple stores if needed. Advectising A nonpersonal method of influencing sales through a paid mesiage by an identified sponsor. Advertising appears in media such aS newspapers, magazines, television, and radio, Advertising Credit ‘The mention of a store name (one or several) in a producer's advertisement, asa retail source forthe advertised merchandise Agile Manufacturing Quick Response with a higher ‘order of flexibility, or QR made-to-order (Clune, 1993). ‘Anchor Stores The department store (or other simi- lar major stores) in a shopping mall Apparel An allembracing term that applies to ‘men’s, women’s, and children’s clothing. Apparel Jobber A firm that generally handles all the Processes but the sewing, and sometimes the cut- ting, and that contracts out these production processes to independently owned contractors. Apparel Manufacturer According to the Baremt ‘of Census, a firm that buys fabrics and does the designing, patteramaking, grading, cutting, sewing, and assembling of garments in factories thacit owns. Today, industry use ofthe term has ‘a mach broader interpretation to include any firm that develops garments, controls produc- tion, sel’ to rerailers (or directly to endvuse cus- tomers), and ships and bills for merchandise. Firms may or may not buy the fabrics tobe used. “Today, generally only small apparel companies conform to the census definition for apparel smanafacturers. Apparel Mart A building that houses the regional showrooms of apparel companies. aa saz ‘Avant Garde In any art, the most daring ofthe ex- perimental; innovation of original and un- Conventional designs, ideas, of techniques daring a particular period. Bar Code "A series of vertical bars that identify a ‘merchandise category, the manufacture, and the individual item, Bilateral Agreements Trade agreements between Bilateral Treaty A treaty beeen two counties. Boarding (Hosiery) Heatsetting process used 0 ‘give hosiery a permanent shape, Body Scanning A futuristic concept to scan an indi- viduals body electronically t0 make a eustom- ‘made pattern. Boutique From the French word meaning “litle shop.” A freestanding shop or an area within 2 etal store, devoted co specialized merchandise for special interest customers. Branch In reniling, an extension ofa parent or fag ship store, operated under the same name and ‘ownership, Brand A trade name or symbol that distinguishes a product as that ofa particular manufacturer or Aisibutor Bridge Jewelry Jewelry that in price and materials is ‘between costume and fine jewelry Bayer "An executive (etal) who is responsible for ‘the selection and purchase of merchandise and for the financial performance of that person's assigned merchandise area. Canton Trade Fair A textile trade show held in ‘Canton (now generally known as Guangzhou), China. Caribbean Basin Initiative (CBI) AUS. wade policy tha gives special privileges to counties in the Caribbean Basi, Caribbean Basin Textile Access Program Provides virtually unlimited quotas for Caribbean-made ‘garments made of US, fabrics and cu in the United States Caribbean Parity “Having apparel trade privileges for the Caribbean countries equal to those for Mexico. Catalog A promotional book or booklet in which merchandise is offered forsale. Catalog Showroom Retailer An underselling estab- lishment that prints and dstibutesa catalog and maintains a showroom where samples of the merchandise can be sen and ordered. FASHION BUSINESS GLOSSARY “Category Killers” Retailers that specialize in exten- sive assortments ofa single kind of merchandise a prices below those of conventional retailers. Caution” French term for admission or entrance fee charged to trade customers by haute couture houses, CD-ROM Shopping Viewing products compiled from catalogs or other sources on a compact disk Centralized Buying When all buyingis done by mer- chandise staff from corporate headquarters. Chain Stores A rex organization that owns and op- erates a string of similar stores that are mer- chandised and controlled from a central headquarters office, ‘Chambre Syndicale de la Couture Parisienne The ‘French trade asvociation that represents the ations (andlor individuals) that performs 2 variety of interrelated funccions in moving ‘products from origination to consumption/use ‘destinations. ‘Chapter 11 The legal process that provides an op- portunity for companies burdened by excessive debt to continue operations while plans are made o restructure the company and resched> ule debe payments CChargebacks Financial penalties retailers demand of vendors for various reasons, Executive Officer (CEO) The individual in a firm who has the final decision-making power for the company. (Chief Operating Officer (COO) The individual in a firm whois head ofall day-to-day operations for the company; this individual reports to the CEO, Classic A particular style that continues as an ac- cepted fashion over an extended period of time. Closeout "An offering of selected discontinued goods by a vendor to a retailer at reduced prices. Collection A manufacturer's or designer's group of styles or design creations for a specific season. ‘The season's total number of styles of designs, accumulated for presentation to buyers, consti- tutes a collection Commissionaire An independent retailer's sevice ‘organization that is based in another country (or countries) and is used to represent importers abroad. FASHION BUSINESS GLOSSARY ‘Competition tn ies marketing context, tis. a form of ‘business activity in which wo or more paris are engaged in a rivalry for consumer acceprance. ‘Computer Aided Design (CAD) Uses software vo ay sist in-produet development by siving time re- quired to create a. protorype garment. When ‘CAD systems are linked to automatic marker smakingland cutting, asample can be produced in a mater of hours. Computer Integrated Manufacturing (CIM) Links {together Via computers many aspects ofa com: ‘pany’ activities associated with developing and Producing line. Concentration (or Industry Concentration). The ‘amount of an industry's business handled by a small numberof the largest firms. Confined A line or label that is sold to one retailer ‘na trading area on an exclusive bass Conglomerate A company consisting of a number ‘of subsidiary divisions in variety of unrelated industries. Consumer ‘The ultimate user af goods or services. Consumer Obsolescence The reection of something that retains utility valve in favor of something, Consumer Orientation A business gives primary at- tention to serving and pleasing the consumer. Consumer Ready Customized products are sent di- ecily from the manufacturer o the consumer. Contract Tanners Business firms that contact hides ‘and skins tothe specification of lather converters. Contractor (Apparel) A garment production opera- tion thar does the sewing and often the cating for otber apparel producers or retalers socalled because this work is done under a coneractal arrangement), The contractor may, in some cases, be responsible fr securing the fabric. Converter (Leathers) A company that buys hides and skins, farms them out for processing to cox: tract tanneries, and sells the finished product. Converter (Textley” A firm tae buys or hale tbe ‘reige goods (i. unfinished fabees) from mills ‘and contracts them out to finishing plants to hnave them finished (i... dyed, printed, :) Cooperative Advertising. Advertsing, the cost of ‘which is shared by a frm and is customer for the benef of both. Cooperative Merchandising Onganization (formerly a ‘Cooperative Buying Office) A service opera: tion owned by a group of stores to asst those 513 store in developing (-e, product development) snd securing merchandise for their ors: other Services ma alo be available. Corporate MerchandseBuying Office A. modem ‘version of what was once the coeporate Buying oifice only; now assis stores in a sore owner ship group with a broader range of merchan- sig services (often including product devel: pment) 35 well s buying. Corporation An artifical egal ens. Gost Price ‘The price at which goods ae illed to 2 store, exclusive of any cash discount that may apply tothe purchase, Costume Jeveley Jewelry made of nonpreons mae Country-of Origin Rules The laws tha determine the official country of origin for purposes of quota use, Couturier” French word for (male) designer, usually lone who has his own couture hotse. Couturiére (emule) Graze Afador fasion characterized by much crowd Cros Docking A method used in retail distribution ‘enters in which merchandise is recsived, sorted, and routed ditecly from reezving 10 shipping without spending anytime in storage, Cross-shoppers Consumers who may shop across all real channels they may, for example, buy outerwear at deparument stores and under rents at discount stores. Currency Exchange Rates The number of units (i. the “price” of one currency in elation to am other. For example, one British pound (£) may he worth $1.50 ar certsn time, depending on fluctuating curreney exchange ates, Custom Made Apparel made 10 the order of ind vida customers cit and fied to indvideal ‘measurements ar opposed 0 apparel thats mass produced in standardized sizes Customization Tailoring. products and services around the needs of inividaal customers Customized Products Those produced for a con- sumer’s specific neds Cut, Make, Trim (CMT) Contracting to have gar rents ext, sewn, and immed as a “package” agreement. Cuuing-Uip Trades The segment of the fashion induces that produces apparel (se apparel producers 514 [Database An information system, generally compur- rized, in which a variety of factual data are or- ‘eanized and stored. Data Mining A new strategy that goes fa simply an- ‘alyzing POS data to help manufacturers and re- ‘ailers analyze consumers’ wants, needs, and spending patterns. Companies can identify ‘which eustomersare spending money with thera ‘ot which products are selling. Database Marketing Using compurer files contain- ing a great deal of information on consumers” demographic and psychological characteristics and lifestyle vo rarget market efforts to amarrow sroup of consumers. Demographics The stay of vital and social statistics ‘of a population. Department Store According to- the US. Census Bureau, a retail establishment that employs at ‘east $0 people and that carries a wide variety ‘of merchandise lines, including home furnish- ‘ings, apparel for the family, and household linens and dry goods. Today, however, few de- partmene stores carey home furnishings or ma- jor appliances. Design An arrangement of part, form, color, and Tine, for example, to create 4 version of a style. Designess Individuals responsible for the creative "aspect of product development Developing Country A poor country in carly stages, ‘of economic development. “Deverticalize” ‘This isa business decision by a ver- tically integrated company to foces on only one stage in the production-disribution process. In ‘one example, Sara Lee sold the manufacturing part of its business co focus on being only an ap- parel marketer. In another example, it might also mean an apparel manufacturing company decides to close its retal stores. Direct Marketing A term that embraces direct mail, mail order, and ditect response. Direct Seller A retailer that sels merchandise by contacting customers either through door-to- door approaches or through some form of in- home party plan. Discounter (Off-Price) An “underselling” retail es tablishment that utilizes self-service combined with many othee expense-saving techniques. This term is commonly used ro refer tothe mass- merchandising discount chains. Display A visual presentation of merchandise oF ideas, FASHION BUSINESS GLOSSARY Diverters Questionable businesses that “divert” mer- cchandise to aretailer other than the one towhom the manufacturer sold it. This strategy puts hux- ‘uryor name-brand goods in office reril stores 10 whom the manafacrrer will not sel. Domestic Market When referring t0 origin of ‘goods, domestic means manufactured in one's ‘own country as opposed to foreign made. Domestics Merchandise essentially forthe home in- cluding sheets, pillows, towels, blankets, table Tinens, and other textile products. “Doors” An industry term for the number of stores. ‘A chain might have 200 “doors” or a vendor might be selling to 100 “doors.” Duty (also known asa tariff) A tax on imports E-commerce Conducting business electronically, us- ‘ing modern computer technalogies and the Tintern. Economies of Scale The savings associated with ‘manufacturing or selling om a large scale EDI Electronic data imerchange: the exchange of business data between two parties electronically. EDI Mailbox Where data are stored on a third party's computer, when a receiving computer is incompatible with a sending computer. EDIThied Party Accompany that provides EDI tiail- boxes EDI Trading Partner Acompany with which one ex- ‘changes data electronically. Editorial Credit The mention, in a magarine oF ‘newspaper, ofa store name asa retail source for merchandise that is being edivorially featured by the publication. 80719802 Production A provision in the US. tariff rules chat permiss garments to be cut in this ssouniry and sewn elsewhere, When garments are returned to the United States, ariffs are paid ‘on only the value added during the assembly process. Technically, this rule is now 9802, but much of the industry stil refers so this as “807 production.” 807A Production Using US-made fabries that are ‘cut into garments in the United States, assem- ‘bled in the Caribbean, and resummed virally quota free to the U.S. market. Electronic Retailing Selling by means of an elec- tronic device such as television or interact computers Entrepreneur A person who organizes, launches, and -lreets a business undertaking and assumes the f- nancial risks and uncertainties ofthe undertaking. FASHION BUSINESS GLOSSARY Establishment Generaly synonymous with plant, ‘which refers toa single production facility Ifthe business is large, many establishments may be pare ofa firm. Etsiling This refers tothe retailing aspect of elec tronie commerce, This usually refers to selling direc 0 consumers. European Union (EU) These are the major countries 'f Western Europe, which have formed an int frated area with common trade policies, com> ‘mon agricutual practices, and free movement Of labor and capital among members. Exclusivity Allowing 2 company sole use within 2 given trading area ofa product. Exportorientation Anarttude and business orient tion that emphasies the importance of export jing fora firm or country. Exports Products or services that one country sells and ships to another. Factor Financial institation that buys accounts e- ‘eivable from sellers, assumes the sks and te sponsbilities of collection, and charges a fe for this service Factory A manufacturing plant. Factory Outlet A manafacturer-owned retail outlet. Tm earlier decades the major purpose was to dis pose of the manufacturer's excess inventor ‘Nowy, many manulacurers see this 36 another place to sell thei merchandise. Fad ‘A minor o shore-ived fashion, Fashion (or Fashions). (1) The prevailing stye(9) at ‘any particular time. When a syle is followed or accepted by many people, it sa fashion. (2) A Continuing procest of change in the styles of dress that is accepted and followed by a large segment ofthe public at any paricular time. Fashion Bullen Writen report on significant fash- ions prepared by fshion specialists shion Clinic Meeting ofa group of persons inter ‘sted in fashion (under the dtecion of a fashion Spel) forthe purpone of presenting wr di ‘ssng significant fashion trends, Clinics are ws- ally held a che begmning of new fashion seasons. Fashion Consultant "A person who gives profes ‘sional fashion advice or services. Fashion Coordinator (or Director) A person charged with the responsibility for keeping abreast of fashion tends and developments and acting asa source of fashion information to oth- ters in is or her organization, Other responsibil ities vary from plae to place, as do jb titles. sa Fashion Forecasting Identifying which fashions or ‘syles wil be popular diving a future period by Tooking at past experiences and curcent tends in the context of environmental issues. (The) Fashion Group A national association of women engaged inthe fashion busines Fashion Image The inpresion the consumer has of retailers (or manufacturers) postion on fash- ‘on leadership, quali selection, and prices. (The) Fashion Press Reports of fashion news for ‘aguzines, newspapers, broadcast media, and so Fashion Retailing The business of buying fashion- ‘otiented merchandise from a variety of te- sources and assemblirg it inconvenient Tocations for resale ro ultimate consumers. Fashion Show or Showing. Formal presentation ofa 10up 0 styles, often in connection with show ing the season's new merchandise. Fashion Trend The ditection in which fashion is ‘moving. Firm The overall busines, or company. A firm may have many establishments (plants) or could hhaveonly one. Today, a namber of apparel firms have no production facies but are simply marketing companies that contract «0 have ‘manufacturing done by others First Cost The price a retailer pays to the producer {in another country for merchandise. Flea Market A location in which a wide variety of independent sellers periodically rent space. Floor-Ready | Manufacturers end merchandise vo re- ‘alers with packaging and ticketing char permits ‘moving goods diretly on tothe sling hoot. Focus Groups Small consumer groups brought to- ‘ether to discuss their views and preferences re- sarding certain products or services, Forcign Exchange The currescy one country uses ro ‘buy from another whise "A contractual agreement between a ‘wholesaler, mamufeetren wr tervice organ tion (the franchisor and an independent retailer that buys the right 0 use the franchisors prod ‘uct name of service for a stipulated fee. In re- tuen, che parent company provides assistance, guidelines, and established Busines patterns. Franchisee The owneroperaor of a retail unit for ‘which there isa franchive arrangement with a Franchisor, the parent company. Franchisor "The parent company which provides the franchisee with exclusive use of an established FASHION BUSINESS GLOSSARY Job Lot A broken, unbalanced assortment of discon- tinued merchandise reduced in price for quick sale, Also called oda lot. Jobber See Apparel Jobber. Kips Animal skins weighing from 15 to 25 pounds when shipped toa tannery. Knock-Off The copying of another suanufscrurer's fashion design, Labor-Imensive A product that involves 2 great deal of labor to produce Landed Cost The cose of an imported product, which includes the cost of the merchandise, transportation, and duty. Last A form in the shape of aboot over which shoes ae built, Lead Time Time necessary to produce merchandise from receipt of order to delivery time. Lean Retailing When retailers keep inventory levels low to reduce investments and risks. Ths occurs successfully only when manufacturers are pre- pared so provide rapid replenishment of items sold, Less-Developed Countries Another term for devel- ‘oping counties; thie serm incorporates countries that have advanced beyond the poorest level, Letters of Credit Typical form of payment for mer- chandise produced in other countries. Leveraged Buyout (LBO) The purchase of a public ‘company’s stock made by 2 group of investors who borrow money from an investment fim us- ing the company's asets as collateral. Licensee The person or organization 10 whom a lic cense is granted. Licensing An arrangement whereby fms ae given permission to produce and market merchandise that bears the name ofa licensor, who receives a percentage of wholesale sales (ea royalty) in recur for the use of is or her name. Licensor The person or organization who grants @ Ticense Line "A collection of seyles and designs shown by 2 producer in.a given season. Line-for-Line Gopy Exact copy ofa style ‘oped by an original designer. Lobby’ A group that works together to put political ‘ressure on policymakers to attempt to have the ‘group's wishes carried out Logistics The process of moving merchandise from manufacturers to retailers to consumers in the most efficient way possible, with concerns also for prompr delivery. devel S17 Mail Order A firm that does the bulk ofits sales through a catalog. Mail-Order House "A retailing organization that ‘generates the bulk ofits busines through mer handte catalogs. Mall "See Shopping Centers. Management Consultants Busines specials (and ‘companies) that asst client firms om broad Strategic planning, market strategy analysis and planning, and merchandising and operations Strategies (in contrast to fashion conssleants ‘who asst with rend analysis and merchandise selection) Management Information Sytems (MIS) A com: puterized system for managing data and putting rin meaningful form so chav is useful 0 man agement in making good decisions, Manufactured Fibers Known previously as “man- rade” fibers, they ae produced from chemical Substances in contrast fibers produced in na- ture (aatural fibers). Markdown Reduction from an orginal retail price. Market (1) A group of potential customers (2) The place or area in which buyers and. sellers Congrense. Market Representative (1) A marker specialist in a ‘corporate merchandisingbuying office who cov- frsasegment ofthe wholeale market and makes information about iravalble o client stores. (2) Similarly a market specialist for a store owner- ship group or corporation who secks merchan- ‘ise lines for that company’ stores. “Market Segmentation The subdivision of a popula- tion (eequeatly ultimate consumers) whose tembersshate similar identifiable characteris fics (¢@, age, wealth education level, marital sans, or lifes). Market Wecks Scheduled periods during which pro- ‘ducers introduce their mew ines for an upon Marketing The total busines interaction that ine ‘volves the planning, pricing, promotion, and ‘Sistribution of consumer-wanted goods and ser ‘ies for profit A marketing orientation means that a company builds thi around the con- sumer’ needs. ‘Marketing Concept Recognizing the importance of The ultimate consumer inthe buying and sling proces. Marketing Evironment All the factors that affect Thow a company is able to meet i goals in FASHION BUSINESS GLOSSARY (Offshore Assembly Having cut garments asembled Crtsnore Production Production of goods by dox ‘mestic manufacturer including retailers) in an- coxher country. Online Computer Shopping When consumers vse ‘online computer services 10 view and order merchandise, Openings Fashion showings of new collections by apparel producers atthe beginnings of a season Open-io-Buy The amount of money that a buyer ‘may spend on merchandise to be delivered in a siven period. Outside Shop See Contractor, Outsourcing When 2 company contracts to have funetions of the busines petformed by compa- ais that specialize in performing cha function, Examples are sewing, logistics, and so on. Outward Processing Trade (OFT) Sending gar- ‘ments to another country for some oF all of the assembly. Overseas Merchandise Representatives tndividuats in other countries who assis their retail clients in the selection, development, and delivery of merchandise (i, sourcing) produced in that overseas region ‘Overstoring The excess retail space available, rela- tive to che population, in the United States. ‘Felt Skin-of fr-bearing animal Plants The same as establishments; cha sya single production facility that may or may not be part ofa langer firm, “Plastisization of Business” When credit cards are used extensively to conduct business, For exam- ple, a consumer from almost anywhere in the world can use a creditcard to order an item of merchandise ‘Policy A clear defined course of action or method. -of doing business deemed necessary, expedient, ‘or advantageous POS Point-ot-sale. in retailing, that area of the store or department where the customer pays ‘or the merchandise and the sale is recorded. ‘This information is processed by computers and provides the basis for Quick Response systems. reproduction Operations Those between the time a style is accepted for the line and when a syle is ready for the sewing loor. Glock, R., 8c Kunz, G, (1995), Apparel manufactring: Sewn prod uct analysis (2nd ed.). Englewood Cliffs, NJ Prentice Hall 519 Press Kit A collection of facts, figures, photographs, and other promotional materials assembled into ‘compact package and distributed to the press. Press Release A written statement of news that has occurred of it about to occur, specifying the souree of the information and the date after which its use is permissible, Porter (French term meaning, literally, “ready- to-camry") French ready-to-wear apparel, asdis- tinguished from counare clothes, which are custom made. Preticketing The vendor puts the price om merchan- cise before shipping it to the retailer. Many re+ tailees ate now requiring vendors to do this. Primary Market Producers of fibers, testis, leather, aid fs Private Label Merchandise that is produced exclu- sively for one retail firm and identified by one or ‘more “names” or brands that are owned by the ly Held Companies Those owned privately by individuals o groups rather than shareholders. Privatized Industries Those previously operated by the government but now have been transferred to private ownership, such as those in the former Soviet Union Product Developer A person employed by a manu- facrurer to develop product lines ora retailer to create private-label merchandise for their exclu- sive use, Product Development The part of apparel manufac taring (also used increasingly by retailers} that develops the line and monitors its production to assure that garments mect expeetations. Product Manager An executive who functions as the head of the product development team respon sible for the planning and development of a par- ticular product, product line, oF brand. Production Orientation A company’s focus on pro- ducing what the company wants to produce of «an produce, in contrast to a marketing orienta: tion, which’ focuses on customers’ needs and Production Package Contacting out the complete production of garments from cutting to finishing. Productivity The amount of factory output per err ployee. This sa measure of efficiency of a man- facturing company: ‘Total revenue and sales less all costs and ex: Profit enses. Progressive Bundle System The traditional way of producing garments in assembly-line fashions workers perform specialized tasks and chen pass the garment on to the next operators. Protectionism Strategies to restrain imports from ‘one’s market. Psychographics The study of people's attitudes and values Public Corporation A business that sells shares ofits ‘stock on the stock market ¢o the public, Publicity Anonpaid message—verbal or written—in ‘@ publicinformation medium about a com- pany’s merchandise, activities, or services. Publicly Owned A corporation whose shares are available for sale to any person who chooses to purchase these shares; this means the share- holders (stockholders) collectively own the company. Pull System Determining the consumer's needs ‘and wants and basing production on that information Push System Force feeding a praduct line through the manufacturing and marketing process in hopes the consumer wil like QR (Quick Response) A compurerized partnership bberween different segments of the industry. ts ‘Purpose is to supply customers with products or services in the precise quantities required at ex- actly the right time. Computer technologies are imporcant in Quick Response systems. Quota Quantitative restrictions placed on exporting, ‘Countries on the number oF unite of specific product categories that may be shipped to a par: ‘cular importing country over a specified pe- riod of time, Rapid Replenishment A Quick Response system that [permits quick replacement of items sold by the retalee. When an item is sol, the manufacturer thas a replacement item in the retailer's stock in a matter of days. Ready-to-Wear Apparel that is mast-produced in ‘standardized sizes as opposed to apparel made t0.a customers special order (custom made) Real-Time Merchandising The continuous analysis of fashion direction, consumer style testing re- sults and current retail sles that permits man: facturers and retailers to operate in “realtime” (auch closer to the selling season) rather than having merchandise tied up in the pipeline for months. Relationship Marketing Idencifying the needs of a specific group of customers, customizing mer cchandise assortments around those customers FASHION BUSINESS GLOSSARY needs, and maincaining an ongoing relationship with those consumers. Reorder Number A style number that continues to be ordered by buyers. Resident Buying Office Formerly, a service organi- zation located in a major market center that re- Ports market information, acts as marker representative, and renders other related ser- vices to a group of stores who have their own buyers. Today, chese organizations provide other kinds of services (e2, product development, ‘merchandising, and sourcing) and may do no bncying a all. Resource A vendor or source of supply. Restructuring The changes a sector or company’ goes through in is efforts ro remain competitive in response to changing market conditions Retailing The business of buying goods from a vari- ery of resources for resale to ulimate con- Royalty _Acompensation paid to the owner of aright (oame, brand, etc.) for the use of that right. Sales Operations Carry out the firm's marketing and merchandising plans by physically selling the line to retail customers, Sales Promotion Any activity that is used to infla- cence the sale of merchandise, services, or ideas. Sample The model or tal garment (may be original in design, a copy or an adaptation} to be shown to the trade or perhaps made to check the design effectiveness and fit of the garment Season In retailing, a selling period. Secondary Fashion Genters Regional market centers ‘outside New York City; examples include Los Angeles, Dallas, and Chicago. Secondary Market Producers of finished consumer fashion products (dresses, coats, suis, acces= sories, and the like). Sell Through A measurement of the amount of mer- chandlse sold of a particular merchandise cate- gory or syle. Seventh Avenuc An expression wsed as a synonym, for New York City’s women's apparel industry (acwally, a street on which the showrooms of many garment manufacturers are located). Shareholders (also referred to a8 Stockholders) ‘The individuals who own a publicly held company because they own stock inthe firm. Shopping Centers A group of retail stores and re- laved facilities planned, developed, and managed S22 weaving, and eating: and dyeing, prising and other finishing. Third World The poorer counties of the world “These are ako sometines known asthe les developed countries (LDCs) oF the developing ‘Trade The sale of goods or services from one coun- ey tw another ‘Trade Association A nonprofit voluntary associa- tion of busineses having common interes “Trade Attorneys Specialists in trade law who asst their clint in importing and exporting activities Trade Balance The difference between a country's ‘imports on one hand and exports onthe other A negative balance (deficit) means the countey receives mate imports than it expores a postive Balance (surplus) means the county export more than it imports. ‘ade Deficit A condition in international trade in which the value of a country’s imports isin ex- es of the wale of impor. ‘Trade Publications Newspapers or magazines pub: lished specifically for profesionals ina special field ‘Trade Show Periodic meechanuie exhibits staged in ‘arious wading areas by groups of produces. ‘Teanschipment When a country that has used all ts “quot sends products to another with avalable

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