Term
|
Definition
| All the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use. p 374 |
|
|
Term
|
Definition
| A business whose sales come primarily from retailing. p 374 |
|
|
Term
|
Definition
| Using in- store promotions and advertising to extend brand equity to “ the last mile” and encourage favorable point- of-purchase decisions. p 374 |
|
|
Term
|
Definition
| A retail store that carries a narrow product line with a deep assortment within that line. p 375 |
|
|
Term
|
Definition
| A retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers or merchandisers. p 375 |
|
|
Term
|
Definition
| A large, low- cost, low- margin, high- volume, self- service store that carries a wide variety of grocery and household products. p 377 |
|
|
Term
|
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. p 377 |
|
|
Term
|
Definition
| A store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services. p 377 |
|
|
Term
|
Definition
| Giant specialty store that carries very deep assortment of particular line. (for example, Best Buy, Home Depot, & PetSmart). They feature stores the size of airplane hangars that carry a very deep assortment of a particular line. p 377 |
|
|
Term
|
Definition
| A retailer whose product line is actually a service; examples include hotels, airlines, banks, colleges, and many others. p 377 |
|
|
Term
|
Definition
| A retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume. p 378 |
|
|
Term
|
Definition
| A retailer that buys at less- than- regular wholesale prices and sells at less than retail. p 378 |
|
|
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
|
Definition
| An off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer’s surplus, discontinued, or irregular goods. p 378 |
|
|
Term
|
Definition
| An off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, & other goods at deep discounts to members who pay annual membership fees. p 379 |
|
|
Term
|
Definition
| Two or more outlets that are commonly owned and controlled. p 379 |
|
|
Term
|
Definition
| Contractual association between a manufacturer, wholesaler, or service organization (a franchisor) & independ businesspeople (franchisees) who buy the right to own & operate one or more units in the franchise system. p 379 |
|
|
Term
|
Definition
| A group of retail businesses built on a site that is planned, developed, owned, and managed as a unit. p 385 |
|
|
Term
| Wheel-of-retailing concept |
|
Definition
| Concept that suggests 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 retailers they replaced. p 387 |
|
|
Term
|
Definition
| All the activities involved in selling goods and services to those buying for resale or business use. p 392 |
|
|
Term
|
Definition
| A firm engaged primarily in wholesaling activities. p 392 |
|
|
Term
|
Definition
| An independently owned wholesale business that takes title to the merchandise it handles. p 393 |
|
|
Term
|
Definition
| A wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation. p 393 |
|
|
Term
|
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. p 393 |
|
|
Term
| Manufacturers’ sales branches & offices |
|
Definition
| Wholesaling by sellers or buyers themselves rather than through independent wholesalers. p 393 |
|
|
