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Chapter 12
Marketing
25
Marketing
Undergraduate 3
04/26/2010

Additional Marketing Flashcards

 


 

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Term
Value Delivery Network
Definition
The network made up of the company, suppliers, distributors, and ultimately consumers who "partner" with each other to improve the performance of the entire system in delivering customer value
Term
Retailing
Definition
All activities involved in selling goods or services directly to final consumers for their personal, non-business 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 product lines- each line is operated as a separate department managed by specialist buyers or merchandisers
Term
Supermarket
Definition
A large, low-cost, low-margin, high-volume self-service store that carries a wide variety of grocery and household products
Term
Convenience Store
Definition
A small store, located near a residential area, that is open long hours seven 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 offers a large assortment of routinely purchased food products, non-food items and services
Term
Category Killer
Definition
A giant specialty store that carries a very deep assortment or a particular line and is staffed by knowledgeable employees.
Term
Service Retailer
Definition
A retailer whose product line is actually a service, including hotels, airlines, banks, colleges, and many others.
Term
Discount Store
Definition
A retail operation that sells standard merchandise at lower prices by accepting lower margins and selling a higher volume.
Term
Off-Price Retailer
Definition
A retailer that buys at less than regular wholesale prices and sells at less than retail. Examples are factory outlets, independents, and warehouse clubs.
Term
Independent Off-Price Retailer
Definition
An off-price retailer that is either independently owned and run 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, discontinues, or irregular goods.
Term
Warehouse Club
Definition
An off-price retailer that sells a limited selection of brand name grocery items, and appliances, clothing, and a hodgepodge of other goods at deep discounts to members who pay annual membership fees.
Term
Chain Stores
Definition
Two or more outlets that are commonly owned and controlled
Term
Franchise
Definition
A contractual association between a manufacturer, wholesaler, or service organization (a franchiser) and independent business people (franchisees) who buy the right to own and operate one or more units in a 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 that states the new types of retailers usually begin as low margin, low price, low status operations but later evolve into higher price, higher service operations, eventually becoming like the conventional retailer that they replaced.
Term
Wholesailing
Definition
All activites involved in selling goods and services to those buying for resale or business use
Term
Wholesaler
Definition
A firm engaged primarily in wholesaling activities.
Term
Merchant Wholesaler
Definition
An independently owned business that takes title to the merchandise it handles.
Term
Broker
Definition
A wholesaler that 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, performs only a few functions, and does not take title to goods.
Term
Manufacturers' Sales Branches and Offices
Definition
Wholesaling by sellers or buyers themselves rather than through independent wholesalers.
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