Shared Flashcard Set

Details

Ch. 12-Retailers, Wholesalers, & Their Strategy Planning
N/A
44
Marketing
Undergraduate 3
11/01/2017

Additional Marketing Flashcards

 


 

Cards

Term
Retailing
Definition
All of the activities involved in the sale of products to final consumers.
Term
General Stores
Definition
Early retailers who carried anything they could sell in reasonable volume.
Term
Single-Line Stores
Definition
Stores that specialize in certain lines of related products rather than a wide assortment-sometimes called limited-line stores.
Term
Limited-Line Stores
Definition
Stores that specialize in certain lines of related products rather than a wide assortment-sometimes called single-line stores.
Term
Specialty Shop
Definition
A type of conventional limited-line store-usually small & with a distinct personality.
Term
Department Stores
Definition
Larger stores that are organized into many separate departments & offer many product lines.
Term
Mass-Merchandising Concept
Definition
The idea that retailers should offer low prices to get faster turnover & greater sales volume by appealing to larger numbers.
Term
Supermarkets
Definition
Large stores specializing in groceries-with self-service & wide assortments.
Term
Discount Houses
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, & take care of any service or repair problems themselves.
Term
Mass-Merchandisers
Definition
Large, self-service stores with many departments that emphasize soft goods (housewares, clothing, and fabrics) & staples (like health & beauty aids) & selling on lower margins to get faster turnover.
Term
Supercenters (Hypermarkets)
Definition
Very large stores that try to carry not only food & drug items but all goods & services that the consumer purchases routinely (also called supercenters).
Term
Convenience (Food) Stores
Definition
A convenience-oriented variation of the conventional limited-line food stores.
Term
Automatic Vending
Definition
Selling & delivering products through vending machines.
Term
Door-to-Door Selling
Definition
Going directly to the consumer's house.
Term
Wheel of Retailing Theory
Definition
New types of retailers enter the market as low-status, low-margin, low-price operators & then, if successful, evolve into more conventional retailers offering more services with higher operating costs & higher prices.
Term
Scrambled Merchandising
Definition
Retailers carrying any product lines that they think they can sell profitably.
Term
Corporate Chain
Definition
A firm that owns & manages more than one store-and often it's many.
Term
Cooperative Chains
Definition
Retailer-sponsored groups, formed by independent retailers, to run their own buying organizations & conduct joint promotion efforts.
Term
Voluntary Chains
Definition
Wholesaler-sponsored groups that work with independent retailers.
Term
Franchise Operation
Definition
A franchisor develops a good marketing strategy, & the retail franchise holders carry out the strategy in their own units.
Term
Wholesaling
Definition
The activities of those persons or establishments that sell to retailers & other merchants, or to industrial, institutional, & commercial users, but who do not sell in large amounts to final consumers.
Term
Wholesalers
Definition
Firms whose main function is providing wholesaling activities.
Term
Manufacturers' Sales Branches
Definition
Separate warehouses that producers set up away from their factories.
Term
Merchant Wholesalers
Definition
Wholesalers that own (take title to) the products they sell.
Term
Service Wholesalers
Definition
Merchant wholesalers that provide all the wholesaling functions.
Term
General Merchandise Wholesalers
Definition
Service wholesalers that carry a wide variety of nonperishable items such as hardware, electrical supplies, furniture, drugs, cosmetics, and automobile equipment.
Term
Single-Line (or General-Line) Wholesalers
Definition
Service wholesalers that carry a narrower line of merchandise than general merchandise wholesalers.
Term
Specialty Wholesalers
Definition
Service wholesalers that carry a very narrow range of products & offer more information & service than other wholesalers.
Term
Limited-Function Wholesalers
Definition
Merchant wholesalers that provide only some wholesaling functions.
Term
Cash-and-Carry Wholesalers
Definition
Like service wholesalers, except that the consumer must pay cash.
Term
Drop-Shippers
Definition
Wholesalers that own (take title to) the products they sell but do not actually handle, stock, or deliver them.
Term
Truck Wholesalers
Definition
Wholesalers that specialize in delivering products that they stock in their own trucks.
Term
Rack Jobbers
Definition
Merchant wholesalers that specialize in hard-to-handle assortments of products that a retailer doesn't want to manage-& they often display the products on their own wire racks.
Term
Catalog Wholesalers
Definition
Sell out of catalogs that may be distributed widely to smaller industrial customers or retailers that might not be called on by other wholesalers.
Term
Agent Wholesalers
Definition
Wholesalers who do not own (take title in) the products they sell.
Term
Manufacturers' Agent
Definition
Agent wholesalers who sell similar products for several noncompeting producers for a commission on what is actually sold.
Term
Export Agents
Definition
Manufacturers' agents who specialize in export trade.
Term
Import Agents
Definition
Manufacturers' agents who specialize in import trade.
Term
Brokers
Definition
Agent wholesalers who specialize in bringing buyers & sellers together.
Term
Export Brokers
Definition
Brokers who specialize in bringing together buyers & sellers from different countries.
Term
Import Brokers
Definition
Brokers who specialize in bringing together buyers & sellers from different countries.
Term
Selling Agents
Definition
Agent wholesalers who take over the whole marketing job of producers, not just the selling function.
Term
Combination Export Manager
Definition
A blend of manufacturers' agent & selling agent-handling the entire export function for several producers of similar but noncompeting lines.
Term
Auction Companies
Definition
Agent wholesalers that provide a place where buyers and sellers can come together and complete a transaction.
Supporting users have an ad free experience!