Term
| What is scrambled merchandise? |
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Definition
| Selling an unrelated group of goods |
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Term
| What are the 5 stages of development? |
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Definition
1. Traditional society
2. pre conditions for take off
3. take off
4. drive to maturity
5. age of mass consumption |
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Term
| Exists when consumers want to buy more products than sellers can provide |
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Definition
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Term
| Exists when sellers have more products than consumers want |
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Definition
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Term
| buyers have power, sellers compete for sales, supply is greater than demand |
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Definition
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Term
| sellers have power, consumers must settle, demand is greater than supply |
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Definition
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Term
-the decesion making unit is the individual shop
-no chains
-stores have little power
-many small competitors
-no single firm dominates
-little differentiation
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Definition
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Term
-multiple wholesalers
-the path a product takes and based on economic development |
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Definition
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Term
-central place theory
-convenience goods/specialized goods
-multiple retailers with different products |
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Definition
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Term
-Retail systems are very small and have small orders
-Retailers carry all the same products
-need to use unique strategies to sell products |
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Definition
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Term
-prices negotiable
-owner has control
-retailers can act to demand & optimize cash flow |
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Definition
| Flexible prices/bargaining |
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Term
-small retailers typically extend credit to their customers
-impt. step as country becomes more economically developed
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Definition
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Term
| Whats the difference btwn. formal credit & informal credit? |
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Definition
Formal credit- based on persons ability to pay
Informal credit- based on familiarity/geographic location |
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Term
Does a traditional retail system have formal or informal credit?
Fixed prices or flexible prices? |
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Definition
| Informal credit, and flexible prices |
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Term
-buyer vs sellers market
-govt regulations
A. channel characteristics
B. Economic
C. Consumer characteristics |
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Definition
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Term
-Size & frequency of purchases
-shopping is an enjoyable activity
A. channel communications
B.consumer characteristics
C. channel performance |
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Definition
| B. Consumer characteristics |
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Term
size & coordination among channel members
A. channel characteristics
B. channel communications
C. channelperformance |
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Definition
| A. channel characteristics |
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Term
financing, importing, loyalty, nature of products
A. environment
B. retail & wholesaleing practice
C. market research |
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Definition
| B. Retail & wholesaling practice |
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Term
-formality, word of mouth, Least developed= communication media
A. channel communications
B. channel performance
C. channel characteristics |
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Definition
| A. channel communications |
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Term
use & formality, Few retailers in U.S. conduct formal market research and those that do are large size, if size is removed there is no difference btwn. use of market research in less developed & more developed countries
A. market research
B. Environment |
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Definition
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Term
-prices, markups, margins
A. channel characteristics
B. channel performance
C. channel communications |
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Definition
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Term
Fragmented, suppliers have power, sellers markets, long channels, consumers buy small amounts frequently, low inventory levels & limited variety, flexible prices/bargaining
These are all key attributes of what? |
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Definition
| Traditional retail system |
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Term
| Do attributes change with level of economic development for traditional retail systems? |
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Definition
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