Chapter 11- Retailing and Wholesaling Flashcards
(33 cards)
Retailer
Business who’s sales come primarily from retailing
Shopper Marketing
Using in-store promotions and advertising to extend brand equity “to the last mile”
Retailing
Activities involved in selling goods or services directly to consumers for their personal, non business use
Types of Retailers
- Amount of service offered
- Breadth and depth of product lines
- Relative prices they charge
- How they’re organized
Levels of Service
Self Service- customers who are willing to perform their own “locate-compare-select” to save time/money
Ex) Supermarkets- Target/Kohls
Limited Service- carry more shopping goods about which customers need information
Ex) Sears/JcPenney
-Full-Service- carry more speciality goods and assist customers in every phase of shopping process
Ex) Tiffany’s, Nordstroms
Specialty Store
Carries narrow product lien with a deep assortment
Department Store
Carries several product lines- each line operated as a separate department
Supermarket
Huge, low cost, low margin, high volume, self service operation
Convenience store
Carries a limited line of high turnover
-slightly higher price
Discount Store
Sells goods at lower prices with lower margins and higher volumes
Off-price retailer
Sells merchandise bought at less-than regular wholesale prices and are sold at less than retailer
Superstore
Large store for routinely purchased items
Warehouse club
Off price retailer selling a limited selection of brand name grocery items, appliances, clothing, and other goods at deep discounts to members who pay annual membership fees
Corporate Chain store
Two or more outlets that are commonly owned and controlled
Strongest in department stores, discount stores, food stores, drug stores, and restaurants
Ex) Sears, Target, Kroger, CVS
Voluntary Chain
Wholesaler-Sponsored group of independent retailers engaged in group buying and merchandising
Ex) Independent Grocers Alliance (IGA)
Retailer Cooperative
Group of independent retailers who jointly establish a central buying organization and conduct joint promotional efforts
Ex) Ace hardware
Franchise Organization
Contractual association between a franchisor and franchisee
Ex) Subway, McDonalds, 7 Eleven
Product Assortment
Offer merchandise that is carried by no other competitor
Services Mix
Offer unique services
Store Atmosphere
Create a unique store experience, such as with experiential retailing
Price Decisions
Price Policy must fit the retailers
- Target Market and positioning
- Product and Service Assortment
- Competition
- Economic factors
- Everyday low prices (EDLP) or high-low prices
Promotion Decision
Advertising Personal Selling Sales Promotion Public Relations Direct Marketing
Place Decision
Locations should be accessible to the target market in areas that are consistent with the retailer’s positioning
Shopping Centre
Group of retail businesses built on a site that is planned, developed, owned, and managed as a unit
