Chapter 15 - Retailers, Wholesalers, and Direct Marketers Flashcards
(31 cards)
1
Q
Retailing
A
- Activities involving in selling merchandise to ultimate consumers
2
Q
Wheel of Retailing
A
- Hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current suppliers charge, the result of reducing or eliminating services
3
Q
Stock-keeping Unit
A
- Offering within a product line, such as a specific size of liquid detergent
4
Q
Markup
A
- Amount a retailer adds to the cost of a product to determine its selling price
5
Q
Markdown
A
- Amount by which a retailer reduces the original selling price of a product
6
Q
Planned Shopping Center
A
- Group of retail stores planned, coordinated, and marketed as a unit
7
Q
Atmospherics
A
- Combination of physical characteristics and amenities that contribute to a store’s image
8
Q
Convenience Retailers
A
- Store that appeals to customers by having an accessible location, long hours, rapid checkout, and adequate parking
9
Q
Specialty Retailers
A
- Store that combines carefully defined product lines, services, and reputation to persuade shoppers to spend considerable shopping effort there
10
Q
Limited-line Store
A
- Retailer that offers a large assortment within a single product line or within a few related product lines
11
Q
Category Killer
A
- Store offering huge selections and low prices in single product lines
12
Q
General Merchandise Retailers
A
- Store that carries a wide variety of product lines
13
Q
Department Store
A
- Large store that handles a variety of merchandise, including clothing, household goods, appliances, and furniture
14
Q
Mass Merchandiser
A
- Store that stocks a wider line of goods than a department store, usually without the same depth of assortment within each line
15
Q
Discount House
A
- Store that charges low prices but may not offer some services
16
Q
Hypermarkets
A
- Giant one-stop shopping facility offering wide selections of grocery items and general merchandise at discount prices, typically filling up 200,000 or more square feet of selling space
17
Q
Supercenters
A
- Large store, usually smaller than a hypermarket, that combines groceries with discount store merchandise
18
Q
Retail Convergence
A
- Situation in which similar merchandise is available from multiple retail outlets, resulting in the blurring of distinctions between types of retailers and merchandise offered
19
Q
Scrambled Merchandising
A
- Retailing practice of combining dissimilar product lines to boost sales volume
20
Q
Wholesalers
A
- Channel intermediary that takes title to goods it handles and then distributes those goods to retailers, other distributors, or B2B customers
21
Q
Wholesaling Intermediaries
A
- Comprehensive term that describes wholesalers as well as agents and brokers
22
Q
Merchant Wholesalers
A
- Independently owned wholesaling intermediary that takes title to the goods it handles; also known as an industrial distributor in the business goods market
23
Q
Rack Jobber
A
- Full-function merchant wholesaler that markets specialized lines of merchandise to retail stores
24
Q
Truck Wholesaler (or Truck Jobber)
A
- Limited-function merchant wholesaler that markets perishable food items
25
Drop Shipper
- Limited-function merchant wholesaler that accepts orders from customers and forwards those orders to producers, which then ship directly to the buyers
26
Mail-Order Wholesaler
- Limited-function merchant wholesaler that distributes catalogs instead of sending sales personnel to contact customers
27
Commission Merchants
- Agent wholesaling intermediary that takes possession of goods shipped to a central market for sale, acts as the producer's agent, and collects an agreed-upon fee at the time of the sale
28
Brokers
- Agent wholesaling intermediary that does not take title to or possession of goods in the course of its primary function, which is to bring together buyers and sellers
29
Selling Agent
- Agent wholesaling intermediary for the entire marketing program of a firm's product line
30
Manufacturers' Representatives
- Agent wholesaling intermediary who represents manufacturers of related but noncompeting products and receives a commission on each sale
31
Direct Marketing
- Direct communications, other than personal sales contacts, between buyer and seller, designed to generate sales, information requests, or store or website visits
