Chapter 11 Flashcards Preview

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Flashcards in Chapter 11 Deck (27):
1

Retailing

All activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family, or household use

2

Form of ownership

Distinguishes retail outlets on the basis of whether individuals, corporate chains, or contractual systems own the outlet

3

What are the forms of ownership?

-Independent retailer
-Corporate chain
-Contractual system

4

Retailing mix

The goods and services, pricing, physical distribution, and communications tactics chosen by a store

5

Level of service

The degree of service provided to the customer by self-, limited- and full service retailers

6

Merchandise mix

How many different types of products a store carries and in what assortment

7

Depth of product line

Assortment of products within each product line that a store carries

8

Breadth of product line

The variety of different lines a store carries

9

Scrambled merchandise

Offering several unrelated product lines in a single retail store

10

Intertype competition

Competition between very dissimilar types of retail outlets

11

Shrinkage

Breakage and theft of merchandise by customers and employees

12

Off price retailing

Selling brand name merchandise at lower than regular prices

13

Central business district

The oldest retail setting, the communities down town area

14

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

15

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

16

Strip location

A cluster of stores for people who live within a 5-10 minute drive

17

Power centre

Large shopping strip with multiple anchor stores, a convenient location, and a supermarket

18

Multichannel retailers

Use a combination of traditional store formats and non store formats such as catalogues and online retailing

19

Telemarketing

Using the telephone to interact with and sell directly to consumers

20

Merchant wholesalers

Independently owned firms that take title to the merchandise they handle

21

Manufactures' agents

Work for several producers and carry non-competitive, complementary merchandise in an exclusive territory

22

Selling agents

Represents a single producer and are responsible for the entire marketing function of that producer

23

Brokers

Independent firms or individuals whose main function is to bring buyers and sellers together to make sales

24

What are the five consumer utilities offered by retailers?

1) Time
2) Place
3) Form
4) Information
5) Possesion

25

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.

26

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.

27

What is a contractual system?

Contractual systems involve independently owned store that use leverage to act like a chain. This includes retailer-sponsored cooperatives, wholesaler-sponsored voluntary chains, and franchises.