Term
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Definition
| the final stop in the distribution channel in which organizations sell food and services to consumers for their personal use. |
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Term
| wheel of retailing hypothesis |
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Definition
| a theory that explains how retail firms change, becoming more upscale as they go through their life cycle. |
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Definition
| a theory that focuses on the various stages that a retailer passes through from introduction to decline. |
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Definition
| when two or more separately owned retail firms combine. |
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Term
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Definition
| when a firm in a mature industry closes or sells off unprofitable stores or entire divisions. |
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Term
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Definition
| retail computer system that collect sales data and are hooked directly into the store's inventory control system. |
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Term
| perpetual inventory unit control system |
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Definition
| retail computer system that keeps a running total on sales, returns, transfers to other stores and so on. |
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Term
| automatic reordering system |
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Definition
| retail reordering system that is automatically activated when inventories reach a certain level. |
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Term
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Definition
| losses experienced by retailers due to shoplifting, employee theft, and damage to merchandise. |
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Term
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Definition
| consumer practice of purchasing a product with the intent to return the non defective merchandise for a refund after it has fulfilled the purpose for which it was purchased. |
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Definition
| the total set of all products offered for sale by a retailer, including all product lines sold to all consumer groups. |
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Definition
| retailers that offer consumers food and general merchandise in the same store. |
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Term
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Definition
| large combination stores that combine economy supermarkets with lower priced merchandise. |
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Term
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Definition
| the range of products a store sells. |
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Term
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Definition
| the number of different product lines available. |
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Term
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Definition
| the variety of choices available for each specific product line. |
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Term
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Definition
| neighborhood retailers that carry a limited number of frequently purchased items and cater to consumers willingness to pay a premium for the ease of buying close to home. |
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Term
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Definition
| food stores that carry a wide selection of edibles and related products. |
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Term
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Definition
| food stores that have a limited selection of items, few brands per item, and few refrigerated items. |
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Term
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Definition
| a very large specialty store that carries a vast selection of products in its category. |
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Term
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Definition
| retailers that carry only a few product lines but offer good selection within the lines that they sell. |
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Term
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Definition
| departments within a larger retail store that an outside firm rents. |
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Term
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Definition
| stores that carry a variety of inexpensive items. |
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Term
| general merchandise discount store |
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Definition
| retailers that offer a broad assortment of items at low prices with minimal service. |
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Term
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Definition
| retailers that buy excess merchandise from well known manufacturers and pass the saving on to customers. |
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Term
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Definition
| discount retailers that charge a modest membership fee to customers who buy a broad assortment of food and nonfood items in bulk and in a warehouse environment. |
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Term
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Definition
| a discount retailer owned by a manufacturer that sells off defective merchandise and excess inventory. |
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Term
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Definition
| retailers that sell a broad range of items and offer a good selection within each product line. |
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Term
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Definition
| retailers with the characteristics of both warehouse stores and supermarkets; several times larger that other stores and offer virtually everything from grocery items to electronics. |
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Term
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Definition
| any method used to complete and exchange with a product end user that does not require a customer visit to a store. |
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Term
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Definition
| an interactive sales process in which a salesperson presents a product to one individual or a small group, takes orders, and delivers the merchandise. |
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Term
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Definition
| community regulations that prohibit door to door selling unless prior permission is given by the household. |
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Term
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Definition
| a sales technique that relies heavily on people getting caught up in the group spirit, buying things they would not normally buy if they were alone. |
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Term
| multilevel or network marketing |
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Definition
| a system in which a mater distributor recruits other people to become distributors, sells the company's product to the recruits, and receives a commission on all merchandise sold by the people recruited. |
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Term
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Definition
| an illegal sales technique that promises consumers or investors large profits from recruiting others to join the program rather than from any real investment or sale of good to the public. |
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Term
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Definition
| online exchanges between companies and individual consumers. |
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Term
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Definition
| consumers who engage in online shopping because of the experiential benefits they receive. |
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Term
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Definition
| the way the marketplace perceives a retailer relative to the competition. |
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Term
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Definition
| the use of color, lighting, scents, furnishings, and other design elements to create a desired store image. |
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Term
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Definition
| the direction in which shoppers will move through the store and which areas they will pass or avoid. |
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Term
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Definition
| the design of all the things customers see both inside and outside the store |
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Term
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Definition
| the physical exterior of a store |
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Term
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Definition
| the sign that shows a store's name. |
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Term
| central business district |
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Definition
| the traditional downtown business area found in a town or city |
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Term
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Definition
| a group of commercial establishments owned and managed as a single property. |
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Term
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Definition
| a temporary retail space a company erects to build buzz for its products |
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Term
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Definition
| a geographic zone that accounts for the majority of a store's sales and customers. |
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