TAM Exam Study Questions with
Verified Solutions6
speed-to-market - ANSWERS -the rate at which a new product moves from conception to
commercialization
store brands - ANSWERS -brands that the retailer both produces and distributes (also called
private-label brands)
Strategic Planning - ANSWERS -the process of developing and maintaining a strategic fit
between the organization's goals and capabilities and its changing marketing opportunities
unethical practices - ANSWERS -Misrepresentation to collect data
aggregated - ANSWERS -combined, overall
automated replenishment system - ANSWERS -a retailer and a manufacturer collaborate on a
system to share critical sales forecasting information
brand tiers - ANSWERS -a strategy in which a company owns multiple brands in a product
category and positions each for a different target consumer and different retail channels,
differentiating between the brands in image, pricing, packaging, placement, and presentation
business cycle - ANSWERS -Alternating periods of economic expansion and economic recession
category management - ANSWERS -A retail strategy of managing groups of similar, often
substitutable products produced by different manufacturers
, data mining - ANSWERS -the application of statistical techniques to find patterns and
relationships among data for classification and prediction
data warehouse - ANSWERS -a place where databases are stored so that they are available
when needed
Decompression - ANSWERS -Procedure to remove pressure on a structure
Extranet - ANSWERS -A private electronic network that links a company with its suppliers and
customers
fast fashion - ANSWERS -Ultra-fast supply chain operations that focus on consumer demand of
fashion goods.
fixed-model time-series (FMTS) - ANSWERS -a set of statistical techniques that begins with the
idea that the forecast for next month's sales is the average of all past sales
leading indicators - ANSWERS -objective measures that accurately predict future labor demand
Markdown - ANSWERS -An amount by which the regular price of an item is reduced.
Product Life Cycle - ANSWERS -The stages through which goods and services move from the
time they are introduced on the market until they are taken off the market.
Qualitative Techniques - ANSWERS -a set of techniques that are used to tap into the expertise of
people inside and outside the company to adjust the quantitative forecast to account for
environmental factors; also called subjective and judgmental techniques
Verified Solutions6
speed-to-market - ANSWERS -the rate at which a new product moves from conception to
commercialization
store brands - ANSWERS -brands that the retailer both produces and distributes (also called
private-label brands)
Strategic Planning - ANSWERS -the process of developing and maintaining a strategic fit
between the organization's goals and capabilities and its changing marketing opportunities
unethical practices - ANSWERS -Misrepresentation to collect data
aggregated - ANSWERS -combined, overall
automated replenishment system - ANSWERS -a retailer and a manufacturer collaborate on a
system to share critical sales forecasting information
brand tiers - ANSWERS -a strategy in which a company owns multiple brands in a product
category and positions each for a different target consumer and different retail channels,
differentiating between the brands in image, pricing, packaging, placement, and presentation
business cycle - ANSWERS -Alternating periods of economic expansion and economic recession
category management - ANSWERS -A retail strategy of managing groups of similar, often
substitutable products produced by different manufacturers
, data mining - ANSWERS -the application of statistical techniques to find patterns and
relationships among data for classification and prediction
data warehouse - ANSWERS -a place where databases are stored so that they are available
when needed
Decompression - ANSWERS -Procedure to remove pressure on a structure
Extranet - ANSWERS -A private electronic network that links a company with its suppliers and
customers
fast fashion - ANSWERS -Ultra-fast supply chain operations that focus on consumer demand of
fashion goods.
fixed-model time-series (FMTS) - ANSWERS -a set of statistical techniques that begins with the
idea that the forecast for next month's sales is the average of all past sales
leading indicators - ANSWERS -objective measures that accurately predict future labor demand
Markdown - ANSWERS -An amount by which the regular price of an item is reduced.
Product Life Cycle - ANSWERS -The stages through which goods and services move from the
time they are introduced on the market until they are taken off the market.
Qualitative Techniques - ANSWERS -a set of techniques that are used to tap into the expertise of
people inside and outside the company to adjust the quantitative forecast to account for
environmental factors; also called subjective and judgmental techniques
