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25 Cards in this Set
- Front
- Back
Retailing |
All the activities involved in selling goods or services directly to final consumers for their personal, non-business use |
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Retailer |
A business whose sales come primarily from retailing |
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Shopper Marketing |
Using point-of-sale promotions and advertising to extend brand equity to "the last mile" and encourage favorable in-store purchase decisions |
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Specialty Store |
A retail store that carries a narrow product line with a deep assortment within that line |
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Department Store |
A retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers or merchandiser |
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Supermarket |
A large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products |
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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 |
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Superstore |
A store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services |
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Category Killer |
A giant specialty store that carries a very deep assortment of particular line |
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Service Retailer |
A retailer whose product line is actually a service; examples include hotels, airlines, banks, colleges, and many others |
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Discount Store |
A retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at a higher volume |
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Off-PriceRetailer |
A retailer that buys at less-than-regular wholesale pricesand sells at less than retail |
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IndependentOff-Price Retailer |
Anoff-price retailer that is either independently owned and run or is a divisionof a larger retail corporation |
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FactoryOutlet |
Anoff-price retailing operation that is owned and operated by a manufacturer andnormally carries the manufacturer’s surplus, discontinued, or irregular goods |
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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 |
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Corporate Chains |
Two or more outlets that are commonly owned and controlled |
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Franchise |
A contractual association between a manufacturer, wholesaler, or service organization (a franchisor) and independent business-people (franchises) who buy the right to own and operate one or more unites in the franchise system |
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Shopping Center |
A group of retail businesses built on a site that is planned, developed, owned, and managed as a unit |
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Wheel-of-retailing concept |
A concept that suggests new types of retailers usually begin as low-margin, low-price, low-status operations but later evolve into higher-priced operations, eventually becoming like the conventional retailers they replaced |
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Wholesaling |
All the activities involved in selling goods and services to those buying for resale or business use |
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Wholesaler |
A firm engaged primarily in wholesaling activites |
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Merchant Wholesaler |
An independently owned wholesale business that takes title to the merchandise it handles |
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Broker |
A wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation |
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Agent |
A wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few good functions, and does not take title to goods |
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Manufacturers' Sales Branch and Offices |
Wholesaling by sellers or buyers themselves rather than through independent wholesalers |