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28 Cards in this Set
- Front
- Back
all the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use |
Retailing |
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a business whose sales come primarily from retailing |
Retailer |
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using in-store promotions and advertising to extend brand equity to "the last mile" and encourage favorable point-of-purchase decisions |
Shopper Marketing
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serve customers who are willing to perform their own locate-compare-select process to save time or money such as Target or Kohl's |
Self-Service |
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provide more sales assistance because they carry more shopping goods about which customers need information such as Sears or JCPenney |
Limited Service |
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assist customers in every phase of the shopping process such as specialty stores like Tiffany or Williams Sonoma or department store such as Nordstrom or Neiman Marcus |
Full Service |
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a retail store that carries a narrow product line with a deep assortment within that line |
Specialty Store |
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a retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers or merchandisers |
Department store |
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the most frequently visited type of retail store; a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products |
Supermarket |
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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 |
Convenience store |
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a store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services |
Superstore |
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a giant specialty store that carries a very deep assortment of a particular line |
Category killer |
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a retailer whose product line is actually a service; examples include hotels, airlines, banks, colleges, and many others |
Service retailer |
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a retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume |
Discount store |
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a retailer that buys at less-than regular wholesale prices and sells at less-than retail |
Off-price retailer |
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an off-price retailer that is either independently owned and run or is a division of larger retail corporation |
Independent off-price retailer |
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an off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer's surplus, discontinued, or irregular goods |
Factory Outlet |
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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 |
Warehouse clubs |
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two or more outlets that are commonly owned and controlled |
Corporate chains |
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a contractual assoication b/w a manufacturer, wholesaler, or service organization (franchiser) and independent businesspeople (franchisees) who buy the right to own and operate one or more units in the franchise system |
Franchise |
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a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit |
Shopping center |
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a concept that suggests new types of retailers usually begin as low-margin, low-price, low-status operations but later evoke into higher price, higher service operations. eventually becoming like the conventional retailers they replaced |
Wheel-of-retailing concept |
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all the activities involved in selling goods and services to those buying for resale or business use |
Wholesaling |
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a firm engaged primarily in wholesaling activities |
Wholesaler |
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an independently owned wholesale business that takes title to the merchandise it handles |
Merchant wholesaler |
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a wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation |
Broker |
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a wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods |
Agent |
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wholesaling by sellers or buyers themselves rather than through independent wholesalers |
Manufacturer's sales branches and offices |