Term
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Definition
| all activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use. |
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Term
| Consumer Utilities offered by Retailing |
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Definition
Time Utility
Place Utility
Form Utility
Possession Utility |
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Term
| Classifying Retail Outlets |
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Definition
Form of Ownership- Independent, Corporate, Contractual
Level of Service- Self Service, Limited Service, Full Service
Type of Merchandise Line- Depth, Breadth |
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Term
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Definition
Offering several unrelated product lines in a single retail store.
Example of a broad merchandise product line. |
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Term
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Definition
| Automatic Vending, direct mail, catalogs, television home shopping, online retailing, telemarketing, direct selling. |
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Term
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Definition
activities around managing the store and its merchandise.
Includes retail pricing, store location, retail communication, and merchandise. |
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Term
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Definition
Mark Ups- how much should be added to the cost the retailer paid to reach a final price
Original Mark Up- difference between retailer cost and initial selling price.
Maintained Markup (Gross Margin)- difference between final sale and the retailers cost |
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Term
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Definition
| Use a combination of traditional store formats and non store formats, such as catalogs, television, and online retailing. |
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Term
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Definition
| Use a combination of traditional store formats and non store formats, such as catalogs, television, and online retailing. |
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Term
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Definition
| describes how new forms of retail outlets enter the market. |
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Term
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Definition
| selling products and service for the purpose of resale or business use. |
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Term
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Definition
Merchant Wholesalers
Manufacturer's agents
Brokers
Manufactures Branches
Manufactures Sales Offices |
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Term
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Definition
Independent firm that takes title to the merchandise handled.
Most common type of Wholesaler
Can be either full service or limited service. |
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Term
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Definition
Do not take title to merchandise.
Work for producers to carry noncompetitive complementary merchandise in an exclusive territory.
Selling agents - work for a sole producer |
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Term
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Definition
Do not take title of merchandise.
principle function is to bring buyers and sellers together. |
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Term
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Definition
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Term
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Definition
Track Record of Success
Marketing Assistance
Strong Brand
Training Programs & Support
Risk Avoidance |
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Term
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Definition
Ready Access to Capital
Leverage Efficiencies (e.g. purchasing)
Committed People (workersinvestors)
Reduced Investment Risk |
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Term
| Integrated Marketing Communications |
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Definition
| a holistic approach to marketing communications that coordinates all promotional activities (advertising, personal selling, sales promotion, public relations, & direct marketing) ensuring consistency of message & complementary use of media. |
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Term
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Definition
Advertising
Personal Selling
Public Relations
Sales Promotion
Direct Marketing |
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Term
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Definition
| any paid form of nonpersonal communication about an organization, good, service, or idea by an identified sponsor. |
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Term
| 2 Disciplines in Advertising |
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Definition
Creative Strategy- determines what the advertising message will say
Media Planning-determines how and where the message will appear |
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Term
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Definition
… advertisements that focus on selling a good or service and which take three forms:
(1) pioneering – what it is, what it can do, where it can be found
(2) comparative – one brand vs. another
(3) reminder – reinforce previous knowledge of a product |
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Term
| Institutional Advertisement |
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Definition
| advertisements designed to build goodwill or an image for an organization rather than promote a specific good or service. |
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