Shared Flashcard Set

Details

MKT-120 Vocabulary
Marketing Terms | Chapter 11
31
Marketing
Undergraduate 2
03/30/2017

Additional Marketing Flashcards

 


 

Cards

Term

Automatic Vending

[image]

Definition
Selling and delivering products through vending machines
Term

Convenience Stores

[image]

Definition
A convenience-oriented variation of the conventional limited-line food stores
Term

Corporate Chain

[image]

Definition
A firm that owns and manages more many stores
Term

Department Stores

[image]

Definition
Larger stores that are organized into many separate departmets and offer many prduct lines
Term

Discount Houses

[image]

Definition
Stores that sell hard goods (cameras, TVs, appliances) at substantial price cuts to customers who go to discounter's low-rent store, pay cash, and take care of any service or repair problems themselves
Term

Door-to-Door Selling

[image]

Definition
Going directly to the consumer's home
Term

Franchise Operation

[image]

Definition
A franchisor develops a good marketing strategy while the retail franchise holders carry out the strategy in their own units
Term

General Stores

[image]

Definition
Early retailers who carried anything they could sell in reasonable volume
Term

Limited Line Stores

[image]

Definition
Stores that specialize in certain lines of related products rather than a wide assortment
Term

Manufacturers' Sales Branches

[image]

Definition
Separate warehouses that producers set up away from their factories
Term

Mass Merchandisers

[image]

Definition
Large, self-service stores with many departments that emphasize soft goods (housewares, clothing, and fabrics) and staples (like health and beauty aids) and selling on lower margins to get faster turnover
Term

Mass-Merchandising Concept

[image]

Definition
The idea that retailers should offer low prices to get faster turnover and greater sales volume by appealing to larger numbers
Term

Merchant Wholesalers

[image]

Definition
Wholesalers who own (take title to) the products they sell
Term

Multichannel Shoppers

[image]

Definition
Shoppers who use different retailers as they move through the purchase process
Term

Omnichannel

[image]

Definition
A multichannel selling approach where a single retailer provides a seamless customer shopping experience from desktop computer, mobile device, telephone, or brick-and-mortar store
Term

Retailing

[image]

Definition
Activites involved in the sale of products to final consumers
Term

Scrambled Merchandising

[image]

Definition
Retailers carrying any product lines that they think they can sell profitably
Term

Service Wholesalers

[image]

Definition
Merchant wholesalers who provide all the wholesailing functions
Term

Single Line Stores

[image]

Definition
Stores that specialize in certain lines of related products rather than a wide assortment; also known as limited line stores
Term

Speciality Shop

[image]

Definition
Type of conventiolnal limited-line store, ususally small and with a distinct personality
Term

Supercenters

[image]

Definition
Very large stores that try to carry not only foods and drug items, but all goods and services that the consumer purchases routinely; also called hypermarkets
Term

Supermarkets

[image]

Definition
Large stores that are organized into many separate departments and offer many product lines
Term

Wheel of Retaling Theory

[image]

Definition
New types of retailers enter the market as low-status, low-margin, low-price operators and then--if successful--evolve into more conventional retalers offering more services with higher operating costs and higher prices
Term

Wholesalers

[image]

Definition
Firms whose main function is providing wholesailing actitivities
Term

Wholesaling

[image]

Definition
The activities of those persons or establishments that sell to retailers and other merchants, and/or to industrial, institutional, and commerical users, but who do not sell in large amounts to final consumers
Term

General Merchandise Wholesalers

[image]

Definition
Service wholesalers who carry a wide variety of nonperishable items such as hardware, electrical supplies, furniture, drugs, cosmectics, & automative equipment
Term

Single Line Wholesalers

[image]

Definition
Service wholesalers who carry a narrower line of merchandise than general merchandise wholesalers
Term

Specialty Wholesalers

[image]

Definition
Service wholesalers who carry a very narrow range of products and offer more information and service than other service wholesalers
Term

Limited-Function Wholesalers

[image]

Definition
Merchant wholesalers who provide only some wholesaling funcitons
Term

Cash-and-Carry Wholesalers

[image]

Definition
Like service wholesalers, except that the customer must pay cash
Term

Dropshippers

[image]

Definition
Wholesalers who own (take title to) the products they sell-- but do not actually handle, stock, or deliver them
Supporting users have an ad free experience!