MAR 3231 Chapter 14 - Buying Merchandise
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national (manufacturer's) products designed, produced, and
brands marketed by a vendor and sold to many
different retailers
private-label (store, house, products developed by retailers
own) brands
premium brands offer the consumer a private label that is
comparable to, or even superior to, a
manufacturer's brand quality, sometimes
with modest price savings
generic brands target a price-sensitive segment by
offering a no-frills product at a discount
price
copycat brands imitate the manufacturer's brand in
appearance and packaging, generally are
perceived as lower quality, and are
offered at lower prices
exclusive co-brand a brand that is developed by a national
brand vendor, often in conjunction with a
retailer, and is sold exclusively by the
retailer
, wholesale market a concentration of vendors within a
specific geographic location, perhaps
even under one roof or over the Internet
market weeks specific times during the year hosted by
wholesale centers during which buyers
make appointments to visit the various
vendor showrooms
trade shows an opportunity for buyers to see the
latest products and styles and interact
with vendors, typically staged at
convention centers not associated with
wholesale market centers
reverse auction one buyer, the retailer, accepts bids from
several potential sellers, the
manufacturers
tariffs (duties) taxes placed by a government on
imports that increase the cost of
merchandise imported from international
sources
resident buying offices organizations located in major market
centers that provide services to help
retailers buy merchandise
retail exchanges providers of Internet-based solutions and
services for retailers
Exam Questions and Answers with Verified
Solutions | Latest Updated 2026
national (manufacturer's) products designed, produced, and
brands marketed by a vendor and sold to many
different retailers
private-label (store, house, products developed by retailers
own) brands
premium brands offer the consumer a private label that is
comparable to, or even superior to, a
manufacturer's brand quality, sometimes
with modest price savings
generic brands target a price-sensitive segment by
offering a no-frills product at a discount
price
copycat brands imitate the manufacturer's brand in
appearance and packaging, generally are
perceived as lower quality, and are
offered at lower prices
exclusive co-brand a brand that is developed by a national
brand vendor, often in conjunction with a
retailer, and is sold exclusively by the
retailer
, wholesale market a concentration of vendors within a
specific geographic location, perhaps
even under one roof or over the Internet
market weeks specific times during the year hosted by
wholesale centers during which buyers
make appointments to visit the various
vendor showrooms
trade shows an opportunity for buyers to see the
latest products and styles and interact
with vendors, typically staged at
convention centers not associated with
wholesale market centers
reverse auction one buyer, the retailer, accepts bids from
several potential sellers, the
manufacturers
tariffs (duties) taxes placed by a government on
imports that increase the cost of
merchandise imported from international
sources
resident buying offices organizations located in major market
centers that provide services to help
retailers buy merchandise
retail exchanges providers of Internet-based solutions and
services for retailers
