Shared Flashcard Set

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Define + Lists
Chapter 13
22
Marketing
Undergraduate 4
11/03/2007

Additional Marketing Flashcards

 


 

Cards

Term
Retailing
Definition
All activities involved in selling goods or services directly to final consumers for their personal nonbusiness use
Term
Retailer
Definition
A business whose sales come primarily from retailing
Term
Specialty store
Definition
A retail store that carries a narrow product line with a deep assortment within that line
Term
Department store
Definition
A retail organization that carries a wide variety of products. Each product line is operated as a separate department managed by specialists
Term
Convenience store
Definition
A small store located near a residential area, that is open long hours 7 days a week and carries a limited line of high-turnover convenience goods
Term
Superstore
Definition
A store much larger than a regular supermarket that carries a large assortment of routinely purchased food products, nonfood items, and services
Term
Category killer
Definition
Giant specialty store that carries a deep assortment of a particular line and is staffed by knowledgeable employees
Term
Discount store
Definition
A retail institution that sells standard merchandise at low prices by accepting lower margins and selling at higher volume
Term
Off-price retailer
Definition
Retailer that buys at less than regular wholesale prices and sells at less than retail
Term
Independent off-price retailer
Definition
An off-price retailer that is either owned and run by an entrepreneur or is a division of a larger retail corporation
Term
Factory outlet
Definition
An off-price retailing operation that is owned and operated by a manufacturer and that normally carries the manufacturer's surplus, discounted, or irregular goods
Term
Warehouse club
Definition
An off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, and a hodgepodge of other goods at deep discounts to members who pay annual fees
Term
Chain stores
Definition
Two or more outlets that are owned and controlled in common, have central buying and merchandising and sell similar lines of merchandise
Term
Franchise
Definition
A contractual association between a wholesaler, manufacturer, or service organization and independent business people who buy the right to own an operate one or more units in the franchise system
Term
Shopping Center
Definition
A group of retail businesses planned, developed, owned, and managed as a unit
Term
Wheel of retailing concept
Definition
A concept of retailing that states that new types of retailers usually begin as low margin low price low status operations but later evolve to high price, high service operations eventually becoming like the conventional retailers they replaced
Term
Wholesaling
Definition
All activities involved in selling goods and services to those buying for resale or business use
Term
Wholesaler
Definition
A firm engaged primarily in wholesaling activity
Term
Merchant wholesaler
Definition
Independently owned business that takes title to the merchandise it handles
Term
Broker
Definition
A wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation
Term
Agent
Definition
A wholesaler who represents buyers or sellers on a relatively permanent basis, preform only a few functions, and does not take title to goods
Term
Manufacturer's sales branches and offices
Definition
Wholesaling by sellers or buyers themselves rather than through independent wholesalers
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