Term
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Definition
selling directly to the consumer
smaller transactions
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Term
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Definition
distribute/resell to retailers
don't typically sell to consumers
larger transactions |
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Term
| retail classification schemes |
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Definition
1. number of outlets
2. profit margin vs. inventory turnover
3. location |
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Term
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Definition
represent 20%, remaining 80% are independent stores
divided by Census into two categories:
2-10 stores or 11 or more stores |
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Term
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Definition
| requires that all stores in a retail chain stock the same merchandise |
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Term
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Definition
| allows individual stores within the chain to customize a certain percentage (i.e. 10%) of stock to cater to local needs |
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Term
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Definition
shows how much gross margin (net sales-cost of goods sold) the retailer makes as a percentage of sales
used by more expensive, more specialty stores that don't have high turnover (more expensive, higher markup) |
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Term
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Definition
the number of times per year on average that a retailer sells its inventory
low markup, high volume
i.e. grocery store |
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Term
| high margin, low turnover |
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Definition
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Term
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Definition
model train stores
cut $ to stay alive but low turnover bc low interest |
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Term
| low margin, high turnover |
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Definition
| grocery stores, food items |
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Term
| high margin, high turnover |
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Definition
| big markup, expensive, but moves quickly |
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Term
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Definition
1. business districts=central, secondary, neighborhood => typically unplanned
2. shopping centers/malls => central ownership, balanced tenancy
3. freestanding units
4. nontraditional locations (md in wal) |
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Term
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Definition
-wheel of retailing=overtime retailers evolve and expand to meet customer needs and demands
-scrambled merchandise=unrelated lines of merchandise carried by one retailer
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Term
| store-based retailers (6) |
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Definition
| department stores, specialty stores, supermarkets, convenience stores, category killers, supercenters. |
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Term
| non-store based retailers |
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Definition
| street peddling, mail order, electronic shopping, automatic merchandising, direct selling |
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Term
| integrated marketing communications |
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Definition
| assures all 5 aspects of MarCom mix convey the same thing and work together---consistency |
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Term
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Definition
1. personal selling
2. advertising
3. PR
4. sales promotion
5. sponsorship marketing |
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