Chp 11 Flashcards
(47 cards)
What is retailing?
All the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use.
What is a retailer?
A business whose sales come primarily from retailing.
What is 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.
Who are omni-channel buyers?
Consumers who make little distinction between in-store and online shopping, and for whom the path to a retail purchase runs across multiple channels.
What is omni-channel retailing?
Creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.
What are self-service retailers?
Retailers that serve customers who are willing to perform their own locate-compare-select process to save time or money.
What is a specialty store?
A store that carries a narrow product line with a deep assortment, such as apparel stores, sporting-goods stores, furniture stores, florists, and bookstores.
What is a department store?
A store that carries several product lines—typically clothing, home furnishings, and household goods—with each line operated as a separate department managed by specialist buyers or merchandisers.
What is a supermarket?
A relatively large, low-cost, low-margin, high-volume, self-service operation designed to serve the consumer’s total needs for grocery and household products.
What is a convenience store?
A relatively small store located near residential areas, open 24/7, and carrying a limited line of high-turnover convenience products at slightly higher prices.
What is a superstore?
A very large store that meets consumers’ total needs for routinely purchased food and nonfood items.
What is a discount store?
A store that carries standard merchandise sold at lower prices with lower margins and higher volumes.
What is an off-price retailer?
A store that sells merchandise bought at less-than-regular wholesale prices and sold at less than retail.
What is an independent off-price retailer?
An off-price retailer that is independently owned and operated or a division of a larger retail corporation.
What are warehouse clubs?
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.
What are factory outlets?
An off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer’s surplus, discontinued, or irregular goods.
What is a corporate chain?
Two or more outlets that are commonly owned and controlled.
What is a voluntary chain?
Wholesaler-sponsored group of independent retailers engaged in group buying and merchandising.
What is a retailer cooperative?
Group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts.
What is a franchise organization?
Contractual association between a franchisor and franchisees.
What are retailer marketing strategies?
Retail segmentation and targeting and store differentiation and position.
What is a services mix?
Helps set one retailer apart from another.
What is a store’s atmosphere?
Retailers want to create a unique store experience that suits the target market and moves customers to buy.
What is experiential retailing?
Retailers trying something new such as new products or new experiences for the customer.
