Flashcards in Chapter 11 Deck (27):
All activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family, or household use
Form of ownership
Distinguishes retail outlets on the basis of whether individuals, corporate chains, or contractual systems own the outlet
What are the forms of ownership?
The goods and services, pricing, physical distribution, and communications tactics chosen by a store
Level of service
The degree of service provided to the customer by self-, limited- and full service retailers
How many different types of products a store carries and in what assortment
Depth of product line
Assortment of products within each product line that a store carries
Breadth of product line
The variety of different lines a store carries
Offering several unrelated product lines in a single retail store
Competition between very dissimilar types of retail outlets
Breakage and theft of merchandise by customers and employees
Off price retailing
Selling brand name merchandise at lower than regular prices
Central business district
The oldest retail setting, the communities down town area
Regional shopping centers
Consists of 50-150 stores that typically attract customers who live within a 5-15 km range; often containing 2 or 3 anchor stores
Community shopping centers
Retail location that typically has one primary store and 20-40 smaller outlets, serving a population of consumers within a 2-5 KM drive
A cluster of stores for people who live within a 5-10 minute drive
Large shopping strip with multiple anchor stores, a convenient location, and a supermarket
Use a combination of traditional store formats and non store formats such as catalogues and online retailing
Using the telephone to interact with and sell directly to consumers
Independently owned firms that take title to the merchandise they handle
Work for several producers and carry non-competitive, complementary merchandise in an exclusive territory
Represents a single producer and are responsible for the entire marketing function of that producer
Independent firms or individuals whose main function is to bring buyers and sellers together to make sales
What are the five consumer utilities offered by retailers?
What is an independent retailer?
A small retail business owned by and individual. This makes up more than 60% of the retail trade in Canada. Ex) restaurants, sporting goods store, bakeries etc.
What is a Corporate chain?
Multiple outlets under common ownership. Chain stores have an advantage when dealing with manufacturers particularly as the chain grows. A large chain can bargain with manufacturers to obtain good service or volume discounts on orders.