Term
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Definition
| all activities involved in selling goods or services directly to final consumers for their personal, non-business use |
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Term
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Definition
| a business whose sales come primarily from retailing |
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Term
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Definition
| the idea that the retail store itself is an important marketing medium |
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Definition
| selling to final consumers through the internet, direct mail, catalogs, telephone, etc... |
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Term
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Definition
- self-service
- limited-service
- full-service |
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Term
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Definition
| serve customers who are willing to perform their own "locate-compare-select" process to save time or money |
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Term
| Limited-Service Retailers |
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Definition
| provide more sales assistance because they carry more shopping goods about which customers need information |
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Term
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Definition
| salespeople assist customers in every phase of the shopping process |
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Definition
| a retail store that carries a narrow product line with a deep assortment of that line |
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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 |
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Definition
| a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products |
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Term
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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 |
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Term
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Definition
| a store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services |
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Definition
| a giant specialty store that carries a very deep assortment of a particular line and is staffed by knowledgeable employees |
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Definition
| a retailer who product line is actually a service, including hotels, airlines, banks, colleges, etc... |
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Term
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Definition
| a retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume |
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Term
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Definition
| a retailer that buys at less than regular wholesale prices and sells at less than retail |
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Term
| Independent Off-Price Retailers |
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Definition
| an off-price retailer is either independently owned and run or is a division of a larger retail corporation |
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Term
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Definition
| an off-price retailing operation that is owned and operated by a manufacturer that normally carries the manufacturer's surplus, discontinued, or irregular goods |
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Term
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Definition
| an off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, and a hodgepodge of other goods at deep discounts to members who pay annual membership fees |
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Term
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Definition
| two or more outlets that are commonly owned and controlled |
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Term
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Definition
| a wholesale sponsored group of independent retailers that engages in group buying and common merchandising |
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Term
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Definition
| a group in independent retailers that band together to set up a jointly owned, center wholesale operation and conduct joining merchandising and promotion efforts |
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Term
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Definition
| a contractual association between a manufacturer, wholesalers, or service organization and independent businesspeople who buy the right to own and operate one or more units in the franchise system |
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Term
| Merchandising Conglomerates |
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Definition
| corporations that combine several different retailing forms under central ownership |
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Term
| 3 Major Product Variables |
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Definition
- product assortment
- services mix
- store's atmosphere |
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Term
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Definition
| should differentiate the retailer while matching target shopper's expectations |
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Term
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Definition
| inviting customers to ask questions or consult service representatives in person or via phone |
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Term
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Definition
| create a unique store experience, one that suits the target market and moves customer to buy |
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Term
| Central Business Districts |
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Definition
| stores clustered together to increase their customer pulling power and to giv e consumers the convenience of one-stop shopping |
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Term
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Definition
| a group of retail businesses planned, developed, owned and managed as a unit |
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Term
| Wheel-of-Retailing Concept |
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Definition
| a concept that states that new types of retailers usually begin as low-margin, low-price, low-status operations but later evolve into higher-priced, higher-service operations, eventually becoming like the conventional retailers they replace. The cycle begins again when still newer types of retailers evolve with lower costs and prices |
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Term
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Definition
| all activities involved in selling goods and services to those buying fr resale or business use |
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Term
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Definition
| a firm egaged primarily in wholesaling activities |
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Term
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Definition
- selling and promoting
- buying and assortment building
- bulk breaking
- warehousing
- transportation
- financing
- risk bearing
- market information
- management services and advice |
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Term
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Definition
| an independently owned business that takes title to the merchandise it handles |
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Term
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Definition
| an indepently owned business that takes title to the merchandise it handles |
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Term
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Definition
| sell primarily to retailers and provide a full range of services |
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Term
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Definition
| sell to manufactureres rather than to retailers |
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Term
| Limited-Service Wholesales |
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Definition
| offer fewer services to their suppliers and customers |
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Term
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Definition
| carry a limited line of fast-moving goods and sell to small retailers for cash |
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Term
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Definition
| perform primarily a selling and delivery function |
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Term
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Definition
| do not carry inventory or handle the produce |
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Term
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Definition
| a wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation |
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Term
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Definition
| a wholesaler who does not take title to goods and whose function is to bring buyers and seller together and assist in negotiation |
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Term
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Definition
| represent two or more manufacturers of complementary lines |
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Term
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Definition
| have contractual authority to sell a manufacturer's entire output |
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Term
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Definition
| generally have a long-term relationship with buyers and make purchases for them often receiving, inspecting, warehousing, and shipping the merchandise to the buyers |
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Term
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Definition
| take physical possession of products and negotiate sales |
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Term
| Manufacturers' Sales Branches and Offices |
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Definition
| wholesaling by sellers or buyers themselves rather than through independent wholesalers |
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Term
| Sales Branches and Offices |
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Definition
| set up by manufacturers to improve inventory control, selling, and promotion |
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Term
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Definition
| perform a role similar to that of brokers or agents but are part of the buyer's organization |
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