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Bargain Bin
A bargain bin refers to an assorted selection of merchandise, particularly software, tools and CDs, which have been discounted in price. Reasons for the discount can range from the closure of a production company to a steep decline in an item's popularity in the aftermath of a fad or scandal. Another reason for the discount can be the particular product line being discontinued. The origin of the term comes from the fact such items would be found in an isolated bin rather than on store shelves. The phrase "bargain basement" is now a synonym. "Bargain basement" used to be a literal basement in downtown department stores. Clearance merchandise would be placed there regardless of which section of the store it originally came from. Chicago's Marshall Field's had begun selling discounted stock from its cellar level before 1910, and many retailers followed suit.Butler Brothers, ''Success in Retailing: The Variety Business,'' 1910, pp. 151–52 The country's first bargain counter was op ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product (business)
In marketing, a product is an object, or system, or service made available for consumer use as of the consumer demand; it is anything that can be offered to a market to satisfy the desire or need of a customer. In retailing, products are often referred to as '' merchandise'', and in manufacturing, products are bought as raw materials and then sold as finished goods. A service is also regarded as a type of product. In project management, products are the formal definition of the project deliverables that make up or contribute to delivering the objectives of the project. A related concept is that of a sub-product, a secondary but useful result of a production process. Dangerous products, particularly physical ones, that cause injuries to consumers or bystanders may be subject to product liability. Product classification A product can be classified as tangible or intangible. A tangible product is an actual physical object that can be perceived by touch such as a building, ve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Knock-off
Counterfeit consumer goods (or counterfeit and fraudulent, suspect items - CFSI) are goods, often of inferior quality, made or sold under another's brand name without the brand owner's authorization. Sellers of such goods may infringe on either the trademark, patent or copyright of the brand owner by passing off its goods as made by the brand owner.Chaudhry, Peggy E., Zimmerman, Alan. ''The Economics of Counterfeit Trade: Governments, Consumers, Pirates and Intellectual Property Rights'', Springer Science & Business Media (2009) Counterfeit products made up 5 to 7% of world trade in 2013,"Challenging the Counterfeit Connector Conundrum" ''Connector Supplier'', November 4, 2013 [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Store Elements
Retail is the sale of goods and Service (economics), services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturing, manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a Profit (accounting), profit. Retailers are the final link in the supply chain from producers to consumers. Retail markets and shops have a very ancient history, dating back to antiquity. Some of the earliest retailers were itinerant peddlers. Over the centuries, retail shops were transformed from little more than "rude booths" to the sophisticated shopping malls of the modern era. In the digital age, an increasing number of retailers are seeking to reach broader markets by selling through multiple channels, including both bricks and mortar store, bricks and mortar and Online shopping, online retailing. Digital technologies are also affecting the way that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mockbuster
A mockbuster (also known as knockbuster or a drafting opportunity) is a film created to exploit the publicity of another major motion picture with a similar title or subject. Mockbusters are often made with a low budget and quick production to maximize profits. "Mockbuster" is a portmanteau of the words "mock" and "blockbuster". Criteria Unlike films produced to capitalize on the popularity of a recent release by adopting similar genre or storytelling elements, mockbusters are generally produced concurrently with upcoming films and released direct-to-video at the same time the film they are inspired by is released. A mockbuster may be similar enough in title and/or packaging that consumers confuse it with the actual film it mimics, but their producers maintain that they are simply offering additional products for consumers who want to watch more films in the same subgenres. History Mockbusters have a long history in Hollywood and elsewhere. For example, the 1959 Vanwick film ''The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shovelware
Shovelware is a term for individual video games or software bundles known more for the quantity of what is included than for the quality or usefulness. The metaphor implies that the creators showed little care for the quality of the original software, as if the new compilation or version had been created by indiscriminately adding titles "by the shovel" in the same way someone would shovel bulk material into a pile. The term "shovelware" is coined by semantic analogy to phrases like shareware and freeware, which describe methods of software distribution. It first appeared in the early 1990s when large amounts of shareware demo programs were copied onto CD-ROMs and advertised in magazines or sold at computer flea markets. Shovelware CD-ROMs ''Computer Gaming World'' wrote in 1990 that for "those who do not wish to wait for "software that used the new CD-ROM format, The Software Toolworks and Access Software planned to release "game packs of several classic titles". By 1993 the mag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Filene's Basement
Filene's Basement, also called The Basement, was a Massachusetts-based chain of department stores which was owned by Retail Ventures, Inc. until April 2009 when it was sold to Syms. The oldest off-price retailer in the United States, Filene's Basement focused on high-end goods and was known for its distinctive, low-technology automatic markdown system. As of late 2006, the company operated stores in metropolitan areas in eight U.S. states and Washington, D.C. and used a distribution center in Auburn, Massachusetts. The store's name was derived from the subterranean location of its flagship store, in the basement of the former Filene's department store at Downtown Crossing in Boston, Massachusetts. The flagship Downtown Crossing store closed in September 2007 while the building above it underwent construction and had been set to reopen following the conclusion of the construction. The 2009 economic crisis negatively impacted the chain, prompting the closing of many stores and t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Variety Store
A variety store (also five and dime (historic), pound shop, or dollar store) is a retail store that sells general merchandise, such as apparel, automotive parts, dry goods, toys, hardware, home furnishings, and a selection of groceries. It usually sells them at discounted prices, sometimes at one or several fixed price points, such as one dollar, or historically, five and ten cents. Variety stores do not include larger formats: general merchandise superstores (hypermarkets) such as Target and Walmart. Warehouse clubs like Costco, grocery stores, and department stores are also not considered variety stores. Economics Pricing and margins Some items are offered at a considerable discount over other retailers, whereas others are at the same price point. There are two ways variety stores make a profit: * Buying and selling vast amounts of goods at heavily discounted prices provides a small profit margin multiplied by the volume of sales. * Pricing many items at prices that are h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inferior Good
In economics, an inferior good is a good whose demand decreases when consumer income rises (or demand increases when consumer income decreases), unlike normal goods, for which the opposite is observed. Normal goods are those goods for which the demand rises as consumer income rises. Inferiority, in this sense, is an observable fact relating to affordability rather than a statement about the quality of the good. As a rule, these goods are affordable and adequately fulfill their purpose, but as more costly substitutes that offer more pleasure (or at least variety) become available, the use of the inferior goods diminishes. Direct relations can thus be drawn from inferior goods to socio-economic class. Those with constricted incomes tend to prefer inferior goods for the reason of the aforementioned observable inferiority. Depending on consumer or market indifference curves, the amount of a good bought can either increase, decrease, or stay the same when income increases. Examples T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Variety Store
A variety store (also five and dime (historic), pound shop, or dollar store) is a retail store that sells general merchandise, such as apparel, automotive parts, dry goods, toys, hardware, home furnishings, and a selection of groceries. It usually sells them at discounted prices, sometimes at one or several fixed price points, such as one dollar, or historically, five and ten cents. Variety stores do not include larger formats: general merchandise superstores (hypermarkets) such as Target and Walmart. Warehouse clubs like Costco, grocery stores, and department stores are also not considered variety stores. Economics Pricing and margins Some items are offered at a considerable discount over other retailers, whereas others are at the same price point. There are two ways variety stores make a profit: * Buying and selling vast amounts of goods at heavily discounted prices provides a small profit margin multiplied by the volume of sales. * Pricing many items at prices that are h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hutzler's
Hutzler's, or Hutzler Brothers Company, was a department store founded in Baltimore by Abram G. Hutzler (1836–1927) in 1858. From its beginning as a small dry goods store at the corner of Howard and Clay Streets in downtown Baltimore, Hutzler's eventually grew into a chain of 10 department stores, all of which were located in Maryland. Early years At age 23, Abram Hutzler was not yet old enough to secure credit; his father, Moses Hutzler, signed the official documents Abram needed to open the store in July 1858. Although the store originally traded as M. Hutzler & Son, Moses Hutzler was otherwise not involved in the business. After Abram brought his two brothers, Charles and David, into the business in 1867, the retail store was left in David's hands while Abram and Charles operated a wholesale business. The retail store expanded into three other storefronts on Howard Street in 1874, 1881 and 1887, gradually transforming into a department store.Lisicky, p. 18. Abram and Charl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Software
Software is a set of computer programs and associated documentation and data. This is in contrast to hardware, from which the system is built and which actually performs the work. At the lowest programming level, executable code consists of machine language instructions supported by an individual processor—typically a central processing unit (CPU) or a graphics processing unit (GPU). Machine language consists of groups of binary values signifying processor instructions that change the state of the computer from its preceding state. For example, an instruction may change the value stored in a particular storage location in the computer—an effect that is not directly observable to the user. An instruction may also invoke one of many input or output operations, for example displaying some text on a computer screen; causing state changes which should be visible to the user. The processor executes the instructions in the order they are provided, unless it is instructed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marshall Field's
Marshall Field & Company (commonly known as Marshall Field's) was an upscale department store in Chicago, Illinois. Founded in the 19th century, it grew to become a large chain before Macy's, Inc acquired it in 2005. Its eponymous founder, Marshall Field, was a pioneering retail magnate. The company's flagship Marshall Field and Company Building on State Street in the Chicago Loop is a National Landmark. It was officially branded ''Macy's on State Street'' in 2006, when it became one of Macy's flagship stores. History Early years Marshall Field & Company traces its antecedents to a dry goods store opened at 137 Lake StreetPDX History of Marshall Field's Retrieved August 20, 2006. in , |
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