Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
7 Cards in this Set
- Front
- Back
Retailing |
is the set of business activities that adds value to products and services sold to consumers for their personal or family use. |
|
Retailer |
Is a business that sells product and or services to consumers for their personal or family use. |
|
Supply chain |
Is a set of firms that make and deliver goods and services to consumers. |
|
Wholesalers |
Buy and store merchandise in large quantities from manufacturers and then resell the merchandise to retailers. |
|
Vertical integration |
Means that a firm performs more than one set of activities in the channel as it occurs when a retailer engages in wholesaling activities by operating its own distribution centers to supply its stores. |
|
Backward integration |
arises when a retailer performs someone's selling and manufacturing activities such as operating warehouses or designing private label merchandise. |
|
Forward integration |
Occurs when a manufacturer undertakes retailing and wholesaling activities such as apple operating its own retail stores. |