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Marketing Definitions
Definitions for Vocabulary-Chapter 13: Basic marketing-A Marketing Strategey Planning Approach, McGraw Hill Publishing Co.
44
Marketing
Undergraduate 3
11/06/2007
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Term
agent middlemen:
 Definition
wholesalers who do not own (take title to) the products they sell.
Term
auction companies:
 Definition
agent middlemen who provide a place where buyers and sellers can come together and complete a transaction.
Term
automatic vending:
 Definition
selling and delivering products through vending machines.
Term
brokers:
 Definition
agent middlemen who specialize in bringing buyers and sellers together.
Term
cash-and-carry wholesalers:
 Definition
like service wholesalers, except that the customer must pay cash.
Term
catalog wholesalers:
 Definition
sell out of catalogs that may be distributed widely to smaller industrial customers or retailers who might not be called on by other middlemen.
Term
combination export manager:
 Definition
a blend of manufacturers' agent and selling agent--handling the entire export function for several producers of similar but noncompeting lines.
Term
convenience (food) stores:
 Definition
a convenience-oriented variation of the conventional limited-line food stores.
Term
cooperative chains:
 Definition
a firm that owns and manages more than one store--and often it's many.
Term
department stores:
 Definition
larger stores that are organized into many separate departments and offer many product lines.
Term
discount houses:
 Definition
stores that sell hard goods (cameras, TVs, appliances) at substantial price cuts to customers who go to discounter's low-rent store, pay cash, and take care of any service or repair problems themselves.
Term
door-to-door selling:
 Definition
going directly to the consumer's home.
Term
drop-shippers:
 Definition
wholesalers who own (take title to) the products they sell--but do not actually handle, stock, or deliver them.
Term
export agents:
 Definition
manufacturers' agents who specialize in export trade.
Term
export brokers:
 Definition
brokers who specialize in bringing together buyers and sellers from different countries.
Term
franchise operation:
 Definition
a franchisor develops a good marketing strategy, and the retail franchise holders carry out the strategy in their own units.
Term
general merchandise wholesalers
 Definition
service wholesalers who carry a wide variety of nonperishable items such as hardware, electrical supplies, furniture, drugs, cosmetics, and automobile equipment.
Term
general stores:
 Definition
early retailers who carried anything they could sell in reasonable volume.
Term
import agents:
 Definition
manufacturers' agents who specialize in import trade.
Term
import brokers:
 Definition
brokers who specialize in bringing together buyers and sellers from different countries.
Term
limited-function wholesalers:
 Definition
merchant wholesalers who provide only some wholesaling functions.
Term
limited-line stores:
 Definition
stores that specialize in certain lines of related products rather than a wide assortment--sometimes called single-line stores.
Term
manufacturers' agent:
 Definition
agent middlemen who sell similar products for several noncompeting producers for a commission on what is actually sold.
Term
manufacturers' sales branches:
 Definition
separate warehouses that producers set up away from their factories.
Term
mass-merchandisers:
 Definition
large, self-service stores with many departments that emphasize soft goods (housewares, clothing, and fabrics) and staples (like health and beauty aids) and selling on lower margins to get faster turnover.
Term
mass-merchandising concept:
 Definition
the idea that retailers should offer low prices to get faster turnover and greater sales volume by appealing to larger numbers.
Term
merchant wholesalers:
 Definition
wholesalers who own (take title to) the products they sell.
Term
rack jobbers:
 Definition
merchant wholesalers who specialize in hard-to-handle assortments of products that a retailer doesn't want to manage--and they often display the products on their own wire racks.
Term
retailing:
 Definition
all of the activities involved in the sale of products to final consumers.
Term
scrambled merchandising:
 Definition
retailers carrying any product lines that they think they can sell profitably.
Term
selling agents:
 Definition
agent middlemen who take over the whole marketing job of producers--not just the selling function.
Term
service wholesalers:
 Definition
merchant wholesalers who provide all the wholesaling functions.
Term
single-line stores:
 Definition
service wholesalers who carry a narrower line of merchandise than general merchandise wholesalers.
Term
single-line (or general-line) wholesalers:
 Definition
stores that specialize in certain lines of related products rather than a wide assortment--sometimes called limited-line stores.
Term
specialty shop:
 Definition
type of conventional limited-line store--usually small and with a distinct personality.
Term
specialty wholesalers:
 Definition
service wholesalers who carry a very narrow range of products and offer more information and service than other service wholesalers.
Term
supercenters (hypermarkets):
 Definition
very large stores that try to carry not only foods and drug items, but all goods and services that the consumer purchases routinely (also called hypermarkets).
Term
supermarkets:
 Definition
large stores specializing in groceries--with self-service and wide assortments.
Term
telephone and direct-mail retailing:
 Definition
allows consumers to shop at home--usually placing orders by mail or a toll-free long distance telephone call and charging the purchase to a credit card.
Term
truck wholesalers:
 Definition
wholesalers who specialize in delivering products that they stock in their own trucks.
Term
voluntary chains:
 Definition
wholesaler-sponsored groups that work with independent retailers.
Term
wheel of retailing theory:
 Definition
new types of retailers enter the market as low-status, low-margin, low-price operators and then--if successful--evolve into more conventional retailers offering more services with higher operating costs and higher prices.
Term
wholesaling:
 Definition
firms whose main function is providing wholesaling activities.
Term
wholesalers:
 Definition
the activities of those persons or establishments that sell to retailers and other merchants, and/or to industrial, institutional, and commercial users, but who do not sell in large amounts to final consumers.
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