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Chapter 17
Definitions
22
Marketing
Undergraduate 3
04/04/2011

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Term
Retailing
Definition
all activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use
Term
Form of Ownership
Definition
distinguishes retail outlets based on whether individuals, corporate chains, or contractual systems own the outlet
Term
Level of Service
Definition
the degree of service provided to the customer from three types of retailers: self-, limited-, and full-service
Term
Merchandise Line
Definition
describes how many different types of products a store carries and in what assortment
Term
Depth of Product Line
Definition
means that the store carries a large assortment of each item
Term
Breadth of Product Line
Definition
describes the variety of different product items a store carries
Term
Scrambled Merchandising
Definition
offering several unrelated product lines in a single store
Term
Hypermarket
Definition
a form of scrambled merchandising, which consists of a large store (more than 200,000 square feet) that offers consumers everything in a single outlet, eliminating the need for consumers to shop at more than one location
Term
Intertype Competition
Definition
competition between very dissimilar types of retail outlets that results from a scrambled merchandising policy
Term
Telemarketing
Definition
using the telephone to interact with and sell directly to consumers
Term
Retail Positioning Matrix
Definition
a matrix that positions retail outlets on two dimensions: breadth of product line and value added, such as location, product reliability, or prestige
Term
Retailing Mix
Definition
the activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise
Term
Off-Price Retailing
Definition
selling brand-name merchandise at lower than regular prices
Term
Central Business District
Definition
the oldest retail setting, usually located int eh community's downtown area
Term
Regional Shopping Centers
Definition
50 to 150 stores that typically attract customers who live or work within a 5- to 10-mile range, often containing two or three anchor stores
Term
Community Shopping Center
Definition
a retail location that typically has one primary store (usually a department store branch) and often 20 to 40 smaller outlets, serving a population of consumers who are within a 10- to 20-minute
Term
Strip Mall
Definition
a cluster of neighborhood stores to serve people who are within a 5- to 10-minute drive
Term
Power Center
Definition
a huge shopping strip with multiple anchor (or national) stores
Term
Category Management
Definition
an approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category
Term
Wheel of Retailing
Definition
a concept that describes how new forms of retail outlets enter the market
Term
Retail Life Cycle
Definition
the process of growth and decline that retail outlets, like products, experience. It consists of the early growth, accelerated development, maturity, and decline stages
Term
Multichannel Retailers
Definition
retailers that utilize and integrate a combination of traditional store formats and nonstore formats such as catalogs, television, and online retailing
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