IPA: /rɪˈspɛktɪvli/
KK: /rɪˈspɛktɪvli/
This word is used to indicate that two or more items are being referred to in the same order as they were mentioned before.
The two brothers, John and Mike, won first and second place, respectively.
Respectively → It is formed from "respect" (from Latin *respectus*, meaning regard or consideration) and the suffix "-ively" (meaning in a manner of). The word "respectively" means in the order given, with regard to each item mentioned.
Think of showing 'regard' ('respect') for each item 'in a manner of' ('-ively') — that's why respectively means in the order given.