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Retailing Test 2
Marketing Class, Retailing test 2, different channels
18
Marketing
Undergraduate 4
10/06/2013

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Term
Catalog retailing
Definition
nonstore retail format in which the retail offering is communicated to a customer through a catalog.
Term
Channel Migration
Definition
When consumers' collect information about products on one comany's channel and then buy from a competitor.
Term
direct selling
Definition
a format in which a salesperson, frequently an independent distributor, contacts a customer directly in a convenient location, demonstrates merchandise benefits, takes an order, and delivers the merchandise to the customer.
Term
Disintermediation
Definition
when a manufacturer sells directly to consumers, thus competing directly with its retailers.
Term
Electronic Retailing
Definition
a retail format in which the retailers communicate with customers and offer products and services for sale over the internet.
Term
Multichannel retailer
Definition
retailer that sells merchandise or services through more than one channel.
Term
Complexity
Definition
the ease with which customers can understand and use a new fasion.
Term
Cross-Shopping
Definition
when you execute premium and low-priced shopping, or patronizing expense, status oriented retailers and price-oriented retailers.
Term
Everyday Low Pricing (EDLP)
Definition
a pricing strategy that stresses continuity of retail prices at a level somewhere between the regular nonsale price and the deep discount sale price of the retailer's competitors.
Term
information search
Definition
when the customer is seeking out more information to satisfy a need.
Term
multi-attribute attitude model
Definition
a model of customer decision making based on the notion that customers see a retailer or a product as a collection of attributes or characteristics. The model can also be used for evaluating a retailer, product, or vendor. The model uses a weighted average score based on the importance of various issues and performance on those issues.
Term
satisfaction
Definition
an evaluation of how satisfied you are with the product you purchased.
Term
store advocates
Definition
customers who like a store so much that they actively share their positive experiences with the friends and family.
Term
brand image
Definition
set of associations consumers have about a brand that are usually organized around some meaningful themes.
Term
positioning
Definition
the design and implementation of a retail mix to create in the customer's mind an image of the retailer relative to its competitors. Also called BRAND BUILDING.
Term
gentrification
Definition
a process in which old buildings are torn down or restored to create new offices, housing developments, and retailers.
Term
inner city
Definition
typically a high-density urban area consisting of apartment buildings populated primarily by ethnic groups.
Term
Main street
Definition
the central business district located in the traditional shopping area of smaller towns, or a secondary business district in a suburb or within a larger city.
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