Chapter 13 Flashcards
Retailing
All the activities involved in selling goods or services directly to final consumers for their personal, no business use.
Retailers
A business whose sales come primarily from retailing.
Shopper marketing
Focusing the entire marketing process on turning shoppers into buyers as they move along toward the point of sale, whether during in-store, online, or mobile shopping.
Omni-channel retailing
Creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.
Speciality store
A retail store that carries a narrow product line with a deep assortment within that line.
Department store
A retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers or merchandisers. (Hema).
Supermarket
A large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products.
Convenience store
A small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods. (Gas stations).
Superstore
A store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, non-food items, and services.
Category killer
A giant specialty store that carries a very deep assortment of a particular line.
Service retailer
A retailer whose product line is actually a service; examples include hotels, airlines, banks, colleges, and many others.
Discount store
A retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume.
Off-price retailer
A retailer that buys at less-than-regular wholesale prices and sells at less than retail.
Independent off-price retailer
An off-price retailer that is independently owned and operated or a division of a larger retail corporation.
Factory outlet
An off-price retailing operating that is owned and operated by a manufacturer and normally carries the manufacturer’s surplus, discontinued, or irregular goods.
Warehouse club
An off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, and other goods at deep discounts to members who pay annual membership fees.
Corporate chains
Two or more outlets that are commonly owned and controlled.
Franchise
A contractual association between a manufacturer, wholesaler, or service organization (a franchisor) and independent businesspeople (franchisees) who buy the right to own and operate one or more units in the franchise system.
Shopping center
A group of retail businesses built on a site that is planned, developed, owned, and managed as a unit.
Wholesaling
All the activities involved in selling goods and services to those buying for resale or business use.
Wholesaler
A firm engaged primarily in wholesaling activities.
Merchant wholesaler
An independently owned wholesale business that takes title to the merchandise it handles.
Broker
A wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation.
Agent
A wholesaler who represents buyer or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods.
