Part 8 Flashcards
activities involved in selling merchandise to ultimate consumers
retailing
3 parts to selecting a target market:
- size of the market
- profit potential of the market
- level of competition
guides retailer’s decisions on the items it will offer-strategy
merchandising strategy
seeks to improve retailer’s product performance through coordinated buying, merchandising, and pricing
category management
offering within a product line
stock keeping unit (SKU)
nonrefundable fees grocery retailers receive from manufacturers to secure shelf space for new products
slotting allowances
amount a retailer adds to the cost of a product to determine its selling price
markup
amount by which a retailer reduces the original selling price of a product
markdown
group of retail stores planned, coordinated, and marketed as a unit
planned shopping center
combination of physical characteristics and amenities that contribute to a store’s image
atmospherics
group of retail outlets that operate under central ownership and management and handle the same product lines
chain stores
focuses marketing appeals on:
- accessible locations
- extended store hours
- rapid checkout services
- adequate parking facilities
convenience retailer
offer potential customers the chance to compare pricing, assortment, and quality levels
shopping stores
combine carefully defined product lines, services, and reputations in attempts to persuade consumers to expend considerable effort to shop at their stores
specialty retailers
handles only part of a single product line that it stocks in considerable depth or variety
specialty stores
