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MARK 1115 Chapter 12
chapter 12
37
Marketing
Undergraduate 1
03/28/2014

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Cards

Term
atmosphere
Definition
The overall impression conveyed by a store’s physical layout, decor, and surroundings. p. 389
Term
automatic vending
Definition
The use of machines to offer goods for sale. p. 374
Term
buyer
Definition
A department head who selects the merchandise for his or her department and who may also be responsible for promotion and personnel. p. 367
Term
category killers
Definition
Specialty discount stores that heavily dominate their narrow merchandise segment. p. 372
Term
chain stores
Definition
Stores owned and operated as a group by a single organization. p. 365
Term
convenience store
Definition
A miniature supermarket, carrying only a limited line of high-turnover convenience goods. p. 370
Term
department store
Definition
A store housing several departments under one roof. p. 367
Term
destination stores
Definition
Stores that consumers purposely plan to visit. p. 387
Term
direct marketing (direct-response marketing)
Definition
Techniques used to get consumers to make a purchase from their home, office, or other nonretail setting. p. 376
Term
direct retailing
Definition
The selling of products by representatives who work door-todoor, office-to-office, or at home parties. p. 375
Term
discount store
Definition
A retailer that competes on the basis of low prices, high turnover, and high volume. p. 370
Term
drugstore
Definition
A retail store that stocks pharmacy-related products and services as its main draw. p. 370
Term
factory outlet
Definition
An off-price retailer that is owned and operated by a manufacturer. p. 372
Term
franchise
Definition
The right to operate a business or to sell a product. p. 365
Term
franchisee
Definition
An individual or business that is granted the right to sell another party’s product. p. 379
Term
franchiser
Definition
The originator of a trade name, product, methods of operation, and so on, that grants operating rights to another party to sell its product. p. 379
Term
full-line discount store
Definition
A retailer that offers consumers very limited service and carries a broad assortment of well-known, nationally branded “hard goods.” p. 370
Term
gross margin
Definition
The amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted. p. 366
Term
in-store retailing
Definition
Customers must physically shop at stores to make a purchase. p. 366
Term
independent retailers
Definition
Retailers owned by a single person or partnership and not operated as part of a larger retail institution. p. 365
Term
mass merchandising
Definition
A retailing strategy whereby retailers offer reduced service and moderate to low prices on large quantities of merchandise in order to stimulate high turnover of products. p. 371
Term
nonstore retailing
Definition
Shopping without visiting a store. p. 374
Term
off-price retailer
Definition
A retailer that sells at prices 25 percent or more below traditional department store prices because it pays cash for its stock and usually doesn’t ask for return privileges. p. 372
Term
on-line retailing
Definition
A type of shopping available to consumers with personal computers and access to the Internet. p. 378
Term
place of business
Definition
A physical in-store location where consumers come to shop, or a nonstore location where consumers may shop using communications technologies. p. 366
Term
pop-up shop
Definition
Temporary retail establishments that allow flexible locations without the long-term commitment of a more expensive retail lease. p. 393
Term
private label brand
Definition
A brand that is designed and developed using the retailer’s name. p. 384
Term
product offering
Definition
The mix of products offered to the consumer by the retailer; also called the product assortment or merchandise mix. p. 384
Term
retailing
Definition
All the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use. p. 364
Term
retailing mix
Definition
A combination of the six P’s—product, place, promotion, price, presentation, and personnel— to sell goods and services to the ultimate consumer. p. 383
Term
scrambled merchandising
Definition
The tendency to offer a wide variety of nontraditional goods and services under one roof. p. 369
Term
specialty discount store
Definition
A retail store that offers a nearly complete selection of single-line merchandise and uses self-service, discount prices, high volume, and high turnover. p. 372
Term
specialty store
Definition
A retail store specializing in a given type of merchandise. p. 369
Term
supercentre
Definition
A retail store that combines groceries and general merchandise goods with a wide range of services. p. 371
Term
supermarket
Definition
A large, departmentalized, self-service retailer that specializes in food and nonfood items. p. 368
Term
telemarketing
Definition
The use of the telephone to sell directly to consumers. p. 377
Term
warehouse membership club
Definition
A limited-service merchant wholesaler that sells a limited selection of brand-name appliances, household items, and groceries on a cash-and-carry basis to members, usually small businesses and groups. p. 372
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